Mars Morning News | Ethereum Fusaka upgrade officially activated; ETH surpasses $3,200

Ethereum Fusaka upgrade officially activated

Mars Finance news, on December 4, according to official sources, Ethereum's second major upgrade of the year, Fusaka, was officially activated on the Ethereum mainnet today at 5:49:11 (GMT+8, corresponding to Epoch 411392). This upgrade was implemented simultaneously on both the Ethereum consensus layer and execution layer, enhancing Ethereum's ability to handle large-scale transactions from various Layer 2 networks. The block gas limit was increased to 60 million, and the upgrade paves the way for subsequent blob parameter adjustments through BPO forks, which are expected to reduce L2 fees by 40% to 60%.

Data: ETH breaks through $3,200

Mars Finance news, OKX-ETH/USDT is now quoted at $3,198.7, with a 5-minute increase of 0.44%.

BlackRock: U.S. debt growth will drive cryptocurrency prices up

Mars Finance news, BlackRock has released its outlook. Setting aside its pessimistic view on U.S. bonds and the world's largest economy, the report essentially outlines an optimistic roadmap for accelerated institutional adoption of cryptocurrencies. The report points out that U.S. federal debt will break through $38 trillion, market vulnerabilities are increasing, and traditional hedging tools are gradually failing. In this environment, Wall Street giants will turn to digital assets as alternative investments more quickly. BlackRock's Global Head of Markets Development, Samara Cohen, stated that stablecoins have "moved beyond the niche" and are becoming a key bridge between traditional finance and digital liquidity.

Crypto market rally returns, ETF inflows hit $1.1 billion, a 7-week high

Mars Finance news, on December 4, KobeissiLetter released a market analysis stating that cryptocurrency ETFs are making a comeback. Last week, crypto funds recorded $1.1 billion in inflows, a 7-week high, marking a reversal from the previous 4 consecutive weeks of $4.7 billion in cumulative outflows. U.S. crypto ETFs led with $994 million in inflows, followed by Canada ($98 million) and Switzerland ($24 million), while Germany saw $57 million in outflows. Bitcoin led the inflows with a net inflow of $461 million, followed by ETH with $308 million. Meanwhile, investors withdrew $1.9 billion from short Bitcoin ETPs. The upward momentum in cryptocurrencies is returning.

Trump-nominated CFTC and FDIC chair candidates move toward confirmation, may reshape crypto regulatory landscape

Mars Finance news, according to CoinDesk, the U.S. Senate is advancing confirmation votes for two key financial regulators nominated by President Trump: Mike Selig as CFTC chairman and Travis Hill as FDIC chairman. Both are seen as crypto-friendly and will play important roles in U.S. crypto market regulation. Once in office, Selig will become the sole CFTC commissioner and lead crypto regulatory legislation and enforcement; Hill emphasizes lifting previous restrictions on banks engaging in crypto business and addressing the issue of "de-banking".

Malaysia cracks down on illegal Bitcoin miners, losses reach $1 billion in electricity

Mars Finance news, Malaysian authorities are actively cracking down on illegal Bitcoin mining activities, which have reportedly caused up to $1 billion in electricity theft losses. Law enforcement agencies are using a combination of high-tech and traditional methods, including drones to detect abnormal heat sources, handheld sensors to detect irregular electricity usage, and responding to residents' reports of strange noises. Some illegal miners are even said to use natural bird calls to mask the noise of mining equipment. The crackdown has turned into a "cat-and-mouse game," involving raids on shops and abandoned houses. The Malaysian government will continue to strengthen regulation to curb this increasingly serious problem.

CryptoQuant: Strategy sets up $1.44 billion reserve to hedge against Bitcoin bear market risk

Mars Finance news, according to The Block, CryptoQuant analysis shows that Michael Saylor's Bitcoin treasury company, Strategy, set up a $1.44 billion reserve this week to hedge against potential Bitcoin bear market risks. The reserve will be used to support preferred stock dividend payments and debt interest, with plans to ultimately cover 24 months of financial needs. CryptoQuant's Head of Research, Julio Moreno, said that if the bear market continues, Bitcoin prices may fluctuate between $70,000 and $55,000 next year. Strategy's purchasing volume has dropped from 134,000 bitcoins in November 2024 to 9,100 bitcoins in November 2025. Investment bank Mizuho maintains an "outperform" rating on Strategy, emphasizing that the dollar reserve is only a liquidity risk management tool, and selling Bitcoin would be a "last resort".

Data: 505.28 BTC transferred from anonymous address, relayed to another anonymous address

Mars Finance news, according to Arkham data, at 08:15 (UTC+8), 505.28 BTC (worth about $47 million) was transferred from one anonymous address (starting with 1F3qci...) to another anonymous address (starting with 1HD612...).

Coinbase adds Beam (BEAM) to listing roadmap

Mars Finance news, according to an official announcement, Coinbase has added Beam (BEAM) to its listing roadmap. The specific listing time will be determined based on technical and compliance review progress.

Vitalik: Ethereum will continue to implement multiple "hard rules" to strengthen security and protocol efficiency

Mars Finance news, Ethereum co-founder Vitalik Buterin posted on X that in recent years, Ethereum has effectively improved protocol security and long-term adaptability by continuously introducing multiple "hard fixed rules". He recalled: 2021: EIP-2929 and EIP-3529, increasing storage read costs and reducing gas refunds; 2024: with the Dencun upgrade, weakening contract self-destruct instructions; 2025: setting a gas limit of 16,777,216 for a single transaction.

Vitalik pointed out that such changes set clear upper limits for the maximum processing volume of a single block and a single transaction, helping to avoid various types of denial-of-service attacks, simplifying client implementation, and providing more room to improve system efficiency. He also stated that more hard limits are expected to be introduced, including: limiting the total number of accessible code bytes (in the short term increasing the cost of calling large contracts, in the medium term adopting a binary tree structure and charging by data block); setting a maximum computation cycle for zero-knowledge EVM verifiers and synchronously adjusting costs; adjusting memory charging methods and setting a clearer upper limit for EVM maximum memory consumption.

Connecticut orders Kalshi, Robinhood, Crypto.com to stop sports betting business

Mars Finance news, on December 4, according to CoinDesk, Connecticut has launched a legal offensive in the sports event contract sector, issuing cease-and-desist notices on Wednesday to three major prediction market operators—Robinhood, Kalshi, and Crypto.com. The state's Department of Consumer Protection accused these companies of "unlicensed sports betting." According to the state government notice, these companies are "hereby ordered to immediately cease and desist from advertising, offering, promoting, or in any way providing contracts or other forms of unlicensed online gambling to Connecticut residents." Robinhood argued on Wednesday that the company is regulated by the U.S. federal government.

Tom Lee buys another $150 million in Ethereum

Mars Finance news, according to Solid Intel, Tom Lee has once again purchased $150 million worth of Ethereum (ETH).

Wall Street makes last-ditch effort to block Trump from appointing Hassett as Fed chairman

Mars Finance news, on December 4, according to Fox Business reporter Charles Gasparino, insiders from Wall Street and the U.S. business community are making last-ditch efforts to warn Trump about the selection of Kevin Hassett as Federal Reserve chairman. The main argument from Wall Street and the business community is that, given Hassett's political background (Director of the U.S. National Economic Council) and past experience, he lacks credibility among Fed staff and in the market, while the market seeks Fed independence. Appointing Hassett would lead to higher long-term interest rates and chaos at the Fed. If Hassett manages to lower short-term rates through a split vote under stubborn inflationary pressures (as Trump wishes), it would be seen as political interference and trigger inflation. Mortgage and consumer rates are benchmarked to the 10-year Treasury; if they soar due to inflation concerns, it could slow the economy as the midterm elections approach. Of course, Trump may ignore all of the above and go his own way. Other candidates for Fed chairman include Kevin Warsh and Fed Governor Christopher Waller, both of whom are potential contenders.