Recent global markets can be described as a "troubled autumn": the candidate for the Fed chair has exploded with surprises, former governor Walsh has surpassed Hassett to become the top favorite; Nasdaq is about to push for "5 days and 23 hours" of extended trading, completely breaking time zone limitations; positive signals about the Russia-Ukraine peace agreement are emerging, with Trump stating that "never been so close"; the crypto industry has mixed feelings, with the SEC warning about monitoring risks while also educating about custody knowledge, and the postponement of the legislative hearing has poured cold water on the industry. These major events spanning politics, finance, and crypto are quietly reshaping the market landscape, and below we will break down the core highlights in the most straightforward manner.

1. Major changes in the financial circle: reversal of Federal Reserve candidates, U.S. stocks to open for 23 hours straight

Recently, there have been two major pieces of news in traditional financial markets, one regarding the direction of monetary policy and the other altering trading rules, both of which have far-reaching implications.

1. The reversal in the Federal Reserve chair candidate has made Walsh the biggest favorite.

The competition for the next chair of the Federal Reserve suddenly changed! On December 16, former Fed governor Kevin Walsh's support rate soared in the prediction market, directly surpassing the originally favored candidate Hassett, becoming the top candidate.

On Polymarket, the nomination probability for Walsh surged from 7% to 48%, while the Director of the National Economic Council, Hassett, dropped from a high of 85% to 42%; on the Kalshi platform, the numbers were even more drastic, with Walsh's probability skyrocketing to 52% and Hassett falling to 39%. Trump also conceded when questioned: "Yes, I think he (Walsh) is (the top candidate), both Kevins are great, and there are other excellent candidates."

Hassett's decline in popularity is due to concerns about his close relationship with Trump, which led to the cancellation of candidate interviews in early December, leaving only Walsh to complete the rescheduled interview last week. It is worth mentioning that JPMorgan CEO Dimon has long supported Walsh, stating that he would be a "great chairman." Current Federal Reserve official Williams also expressed support for last week's 25 basis point rate cut, but whether to continue action at the next meeting at the end of January will depend on the data.

2. Nasdaq officially applied for "5×23" hours of trading, allowing global investors to avoid staying up late.

U.S. stock trading is about to enter the "all-weather era"! On December 16, Nasdaq plans to submit an application to the SEC to extend stock and ETF trading hours from the current 16 hours daily to 23 hours for 5 days a week.

The new trading model is divided into two time periods, arranged clearly:

  • Daytime hours: Eastern Time from 4 AM to 8 PM, retaining the current pre-market, regular trading (opening at 9:30 AM, closing at 4 PM), and after-hours periods, with the core rhythm unchanged;

  • Night trading hours: Eastern Time from 9 PM to 4 AM the next day, where trades from 9 PM to midnight will count towards the next trading day's transactions.

This means that the trading week will start at 9 PM on Sunday and end at 8 PM on Friday. For global investors, especially participants from Asia and Europe, there is no longer a need to stay up late to monitor the markets, allowing them to participate in the U.S. stock market during their own schedule; however, some institutions worry that night trading may face issues of insufficient liquidity and increased volatility.

2. The crypto industry has mixed feelings: legislative delays are met with cold reception, while regulatory education and pardoning signals bring warmth.

The cryptocurrency industry has recently been met with both cold water and multiple positive signals, creating a clear dichotomy.

1. The legislative hearing has been postponed until next year; the industry will have to wait a bit longer for new regulations.

A bad piece of news has arrived for the cryptocurrency industry: The U.S. Senate Banking Committee has postponed the hearing on revisions to the cryptocurrency market structure legislation until next year.

Originally, the market expected the hearing to be held this week, hoping to introduce comprehensive regulatory new laws by 2025, but it ultimately did not materialize. The committee stated that although significant progress has been made with Democratic colleagues, negotiations are still ongoing. This postponement is a significant blow to the industry, as next year the primary task of Congress is to allocate funds to the government (the funding bill expires on January 30), followed by preparations for midterm elections, leaving little time for crypto legislation, and the regulatory clarity the industry desires will have to wait.

2. The SEC's dual stance: warning of monitoring risks while providing hands-on guidance for retail custody.

The SEC's recent stance on the cryptocurrency industry is very clear: on one hand, it warns of risks, and on the other, it promotes knowledge.

SEC Chairman Paul Atkins warned that blockchain can efficiently link transactions with senders, and if the government intervenes excessively, treating every wallet and software as monitoring nodes, cryptocurrency could become "the most powerful financial monitoring structure ever." But he also emphasized that it is possible to balance innovation and security without sacrificing privacy, and that a regulatory framework that respects personal freedom will be constructed.

At the same time, the SEC also released an announcement specifically aimed at educating retail investors about cryptocurrency asset custody, including the types of crypto wallets, the differences between self-custody and third-party custody, and the precautions for choosing custody services, effectively providing a step-by-step guide on safely holding crypto assets.

3. Trump considers pardoning privacy wallet developers, indicating a shift in regulatory winds.

Another positive signal comes from the White House: Trump expressed willingness to consider pardoning convicted Bitcoin Samourai wallet developer Keonne Rodriguez, and he directly told the U.S. Attorney General, "We will pay attention to this matter."

Rodriguez was just sentenced to 5 years in federal prison last month because his developed Samourai wallet allows users to ensure Bitcoin transaction privacy without going through a third party, and he is due to begin serving his sentence this Friday. Trump's statement has given the market new expectations for the regulatory environment of the cryptocurrency industry and has brought a glimmer of warmth to the development of privacy-oriented crypto tools.

4. The Solana hackathon has concluded, with 33 projects winning awards, and hardware wallets taking the championship.

The crypto ecosystem has also received good news: the Solana Breakpoint 2025 hackathon concluded in Abu Dhabi, with a total of 33 projects winning awards, covering various tracks such as infrastructure, consumer applications, DeFi, and RWA.

Among them, the Unruggable hardware wallet won the overall championship with its innovative design, showcasing the innovative vitality of the Solana ecosystem. For investors, these award-winning projects may also become potential targets worth paying attention to in the future, and the prosperity of the ecosystem will provide long-term support for the SOL token.

3. International and legal: Peace between Russia and Ukraine is within reach, BSV investors' $13 billion claim rejected.

In addition to finance and crypto, significant developments have also occurred in international situations and legal cases.

1. Trump stated that he is close to reaching a peace agreement between Russia and Ukraine, with multiple leaders engaged in intensive dialogue.

The Russia-Ukraine conflict may be nearing a turning point! On December 15 local time, Trump stated that he had long discussions with leaders from Germany, France, the UK, and other European countries, as well as NATO leaders, and communicated multiple times with Russian President Putin, with all parties hoping to end the conflict, now "closer than ever to reaching a peace agreement."

Trump also revealed that the U.S. is working with Europe to develop security guarantees for Ukraine. Ukrainian President Zelensky also stated that recent talks with the U.S. in Berlin were "complex but productive," and that they will continue to seek to end the conflict through diplomatic channels. However, Russia has previously emphasized that the foundation for the talks is to reach a legally binding document stating that Ukraine will not join NATO, and further details of the subsequent agreement still need to be monitored.

2. The UK Supreme Court rejected the $13 billion BSV claim, ruling that the "missed growth" argument is not valid.

A high-stakes crypto lawsuit has reached a final result: the UK Supreme Court rejected the appeal of BSV investors for $13 billion.

This case originated in 2019, after major exchanges like Binance and Kraken delisted BSV, its price plummeted. BSV Claims Limited, formed by investors, sued the exchanges, claiming not only immediate losses but also losses due to the "missed growth effect," even hypothesizing that BSV could rise to the same value as Bitcoin. However, the court repeatedly rejected this claim, stating that the assumption was invalid, and ultimately the Supreme Court upheld the original ruling, completely nullifying the investors' exorbitant claim.

Conclusion: The market is seeking direction amidst changes, with opportunities and risks coexisting.

From the reversal of the Federal Reserve candidates, extended trading hours in the U.S. stock market, to the regulatory relaxation signals in the crypto space and the postponement of legislation, and the positive progress on the Russia-Ukraine peace agreement, recent global markets are full of uncertainties. For investors, this means more new opportunities: more convenient trading in U.S. stocks, gradually clearer regulations in the crypto industry, and continuous ecological innovation.

However, risks cannot be ignored: the uncertainty of crypto legislation, potential volatility in the U.S. stock night market, and the subsequent developments in geopolitics all require cautious handling. Whether investing in traditional finance or crypto assets, choosing legitimate channels, paying attention to core policy changes, and controlling risk exposure are key. In this market full of changes, only by closely following trends and making rational judgments can one seize real opportunities.

Disclaimer: The content of this article is for reference only and does not constitute any investment advice. Investors should consider their own risk tolerance and investment goals, rationally view cryptocurrency investments, and avoid blindly following trends.