Mars Morning News | ZCash shielded pool assets reach 23% of total supply, network usage surges

US Government Plans to End Shutdown, SEC and CFTC May Accelerate Crypto Regulation and Product Progress

According to market sources, the two parties in the Senate have reached an agreement, and the 41-day government shutdown may end this week, with the SEC and CFTC resuming normal operations. The SEC may prioritize issuing “exemptive relief” to support tokenization and crypto businesses, and continue investigating digital asset custody companies. During the shutdown, crypto ETFs such as SOL, Litecoin, and HBAR, which were launched under unified listing standards, may automatically take effect, receive supplemental inquiries, or be delayed after the SEC resumes operations. CFTC Acting Chair Caroline Pham stated that this year will see the promotion of “spot crypto trading and tokenized collateral,” and discussions are underway with regulated exchanges to launch leveraged spot trading as early as next month. The Senate Banking Committee and Agriculture Committee are respectively advancing bills to allocate SEC/CFTC authority and define “ancillary assets,” which will ultimately need to be coordinated into a single version for the President’s signature.

GoPlus: Hello 402 Contract Faces Risks of Unlimited Minting and Centralized Manipulation

The GoPlus Chinese community disclosed on the X platform that the Hello 402 contract contains some hidden risks—unlimited minting and centralized manipulation. 1. The administrator address has extremely high authority, fully controlling the minting and distribution of H402 tokens. For example: the addTokenCredits function allows the administrator to allocate H402 token minting shares to users, but does not check whether it exceeds the MAX_SUPPLY total, effectively creating a backdoor for unlimited minting; the redeemTokenCredits function allows users to actually mint H402 tokens based on their shares; the WithdrawDevToken function allows the administrator address to mint all unallocated shares at once, posing a high risk of centralized manipulation. 2. The project team stated on X that the WithdrawDevToken function is only for “token replenishment,” “ecosystem incentives,” and “profit margin” after the private sale ends, but none of these commitments are specifically implemented at the contract level, resulting in a high risk of centralized default. Previously, OKX stated that it has launched an investigation into the abnormal behavior of Hello 402, will continue to track on-chain evidence, and reserves the right to take legal action.

Probability of Fed Cutting Rates by 25 Basis Points in December Currently at 69.6%

On November 12, according to CME “FedWatch” data, the probability of the Federal Reserve cutting rates by 25 basis points in December is 69.6%, while the probability of keeping rates unchanged is 30.4%.

US Stocks Close Mixed, Crypto Stocks Mostly Down

On November 12, according to market data, US stocks closed mixed on Tuesday, with the Dow Jones up 1.18%, the S&P 500 up 0.2%, and the Nasdaq down 0.25%. Crypto stocks mostly declined, including: Coinbase (COIN) down 4.38%, Circle (CRCL) down 5.57%, Strategy (MSTR) down 3.15%, Bullish (BLSH) down 2.58%, Bitmine (BMNR) down 3.79%, SharpLink Gaming (SBET) down 3.26%, BTCS (BTCS) down 6.09%, BNB Network Company (BNC) down 3.7%, ALT5 Sigma (ALTS) down 6.67%, American Bitcoin (ABTC) up 0.41%, new SOL treasury stock Helius (HSDT) down 4.09%, BTC treasury stock Kindly MD (NAKA) down 5.15%, and new stock Figure (FIGR) down 3.8%.

ZCash Shielded Pool Assets Reach 23% of Total Supply, Network Usage Surges

According to The Block, Zcash’s shielded pool asset size has reached 23% of its total supply, up from 18% in October, marking steady progress in network privacy applications. The shielded pool works by hiding transaction details, and as more ZEC enters this privacy state, the entire network becomes harder to track.

ClearToken Approved by UK to Launch Crypto and Tokenized Asset Settlement System

According to The Block, the UK Financial Conduct Authority (FCA) has approved London-based ClearToken to launch regulated settlement services for digital assets. Its upcoming CT Settle platform adopts a “payment versus delivery” model, allowing simultaneous settlement of both sides of crypto, stablecoin, and fiat currency transactions. The platform is designed similarly to the CLS system in the foreign exchange market, reducing settlement risk and freeing up capital. This approval grants ClearToken the status of an authorized payment institution and registered crypto asset company, laying the foundation for building future tokenized and digital asset clearinghouses. In addition, the company plans to apply to the Bank of England for approval to expand clearing and margin services using the central bank’s digital securities sandbox.

Data: $479 Million Liquidated Across the Network in the Past 24 Hours, $407 Million Longs Liquidated, $72.16 Million Shorts Liquidated

According to Coinglass data, in the past 24 hours, $479 million was liquidated across the network, with $407 million in long positions and $72.16 million in short positions. Among them, $99.5 million in bitcoin long positions were liquidated, $18.11 million in bitcoin short positions, $101 million in ethereum long positions, and $12.257 million in ethereum short positions. In addition, in the past 24 hours, a total of 153,381 people were liquidated globally, with the largest single liquidation occurring on Bitfinex - tBTCF0:USTF0, valued at $12.8504 million.

On the Day the Internet Collapses, How Would Bitcoin Split Itself?

The article explores the impact of a global internet backbone collapse on the bitcoin network, analyzing chain splits after partitioning, hash rate distribution, transaction confirmation issues, and recovery mechanisms.

Who Will Visa Choose? Mastercard, Coinbase, and Stripe Have All Made Their Moves

The payments industry is undergoing structural changes, with enterprise-level stablecoin services becoming the focus of competition. Major payment giants are accelerating their layouts through acquisitions. Visa’s strategic legacy shows a preference for infrastructure-first, and the current industry competition is shifting toward full-stack productization capabilities. The article analyzes potential acquisition targets for Visa and their pros and cons, emphasizing that stablecoin orchestration platforms have become the new infrastructure battleground.

Shorting MSTR for 100% Profit: How Did He Consider This Trade?

Wall Street investor Jim Chanos achieved significant returns by shorting MicroStrategy (MSTR) stock and going long on bitcoin (BTC), believing that MSTR’s stock price is overvalued relative to its bitcoin holdings. Chanos’s trading logic is based on MSTR’s difficulty in maintaining a high net asset multiple (mNAV) and criticizes its leveraged bitcoin purchase strategy.