Huoxun Finance News, December 14th – Hong Kong Legislative Council member Ng Kit-chong was successfully re-elected for the eighth term. During the election process, he stated that he would continue to promote the development of Web3 in Hong Kong and assist the Hong Kong SAR government in developing cutting-edge future industries, including empathic intelligence, quantum computing, and space technology. Furthermore, Ng Kit-chong addressed recent questions regarding Hong Kong's Web3 development. He believes that the development of stablecoins in Hong Kong will not undergo significant changes and will continue to move steadily forward. Regarding RWA, Hong Kong has already implemented a regulatory sandbox, and Ng Kit-chong believes that different industries can boldly experiment with Web3 technology, which he believes will drive the development of numerous real-world applications. At the same time, Ng Kit-chong stated that he will assist the industry in building a talent ecosystem and encourage more developers and practitioners to settle in Hong Kong.

According to Odaily Planet Daily, market data shows that FOLKS briefly surged above $40, reaching a high of $40.3, representing a daily increase of over 170%. As of press time, FOLKS is currently trading at $40.3, indicating significant intraday volatility; investors should be aware of the risks.

Odaily Planet Daily reports that the Prysm team released a mainnet incident recap report stating that during the Ethereum mainnet Fusaka session on December 4th, almost all Prysm beacon nodes ran out of resources while processing specific attestations, resulting in their inability to respond to validator requests in a timely manner and causing a large number of missing blocks and witnesses. The incident affected epochs 411439 to 411480, a total of 42 epochs, with 248 blocks missing out of 1344 slots, a missing rate of approximately 18.5%. Network participation dropped to 75% at one point, and validators lost approximately 382 ETH in witness rewards. The root cause was that Prysm received attestations from nodes that may have been out of sync with the mainnet. These attestations referenced the block root of the previous epoch. To verify their validity, Prysm repeatedly replayed the old epoch state and performed high-cost epoch transitions, causing nodes to run out of resources under high concurrency. The defect originated from Prysm PR 15965, which had been deployed to the testnet a month prior but did not trigger the same scenario. The official temporary solution was to enable the `--disable-last-epoch-target` parameter in version 7.0.0; subsequent releases 7.0.1 and 7.1.0 included a long-term fix, using head state to verify attestations and avoid repeatedly replaying historical states. Prysm stated that the issue gradually subsided after 4:45 UTC on December 4th, with network participation recovering to over 95% by epoch 411480. The Prysm team pointed out that this incident highlights the importance of client diversity; if a single client accounts for more than one-third, it may lead to a temporary inability to terminate; exceeding two-thirds poses a risk of an invalid termination chain. They also reflected on the unclear communication regarding feature switches and the failure of the test environment to simulate large-scale asynchronous nodes, and will improve testing strategies and configuration management in the future.

Despite the crypto market's pullback from its October highs and the loss of approximately $1 trillion in market capitalization, venture capital firms still poured about $176 million into the crypto sector this week, covering 16 startups. DefiLlama data shows that total funding in the crypto space so far in 2025 has exceeded $25 billion, significantly higher than the same period last year and far exceeding market expectations at the beginning of the year. Major investors this week included Pantera Capital, Coinbase Ventures, and Digital Currency Group (DCG). Several industry insiders pointed out that the logic of capital allocation is changing; investors are gradually moving away from projects that rely solely on market sentiment and narrative-driven approaches, and are paying more attention to clear product positioning, genuine demand, and sustainable revenue models. Sebastián Serrano, CEO of the Argentine crypto exchange Ripo, stated that projects with clear product-market fit and stable cash flow are more likely to receive funding in the current environment. Specifically, cross-chain infrastructure project LI.FI completed a $29 million funding round this week. Its protocol integrates multiple cross-chain bridges and decentralized trading aggregators, and plans to use the funds to expand infrastructure for AI agents and stablecoin scenarios, as well as to advance the intent and solver market, scheduled for launch in Q1 2026. Real Finance also completed a $29 million private funding round. This project builds an institutional-grade L1 blockchain based on the Cosmos architecture, focusing on compliant real-world asset tokenization, aiming to bring approximately $500 million worth of assets onto the chain in the short term. Another key project, TenX Protocols, completed a $22 million funding round and has already listed on the Toronto Stock Exchange Venture Exchange. Its business covers staking, validator nodes, and digital asset treasury services for multiple high-performance public chains. The current funding structure reflects the market's continued interest in "infrastructure-type" and "institution-friendly" projects. Even with overall market pressure, capital is still willing to pay for projects with long-term competitiveness and clear business paths. (DL News)

Huoxun Finance reported on December 14th that, according to Cointelegraph, TRMLabs predicts in a report that the use of Venezuelan stablecoins is likely to continue to grow. As regional and geopolitical tensions continue to escalate, leading to macroeconomic instability and the continued depreciation of the Venezuelan bolivar, the demand for stablecoins as a store of value and medium of exchange will rise. At the same time, regulatory ambiguity and ongoing uncertainty surrounding the authority and enforcement capabilities of Venezuela's cryptocurrency regulator, SUNACRIP, coupled with declining public trust in traditional banking infrastructure, may prolong public reliance on blockchain and further drive its usage. Previously, Chainalysis's "2025 Cryptocurrency Adoption Index Report" ranked Venezuela 18th globally in cryptocurrency adoption, but after adjusting for population size, its ranking rose to 9th.