From last night to this morning ( December 5, 21:00 - next day 7:00 ), there have been quite a few noteworthy movements in the crypto market.

Starting with exchanges and project teams: a leading brokerage platform has added the AERO trading pair, signaling their continued push into the crypto sector—users now have another asset option. Meanwhile, prediction market leader Polymarket is on a major hiring spree to build an in-house market-making team, clearly in an expansion phase and aiming to further boost market depth and liquidity with their own team.

There’s also an interesting development in ecosystem expansion: Base, the Ethereum Layer-2 network incubated by a major compliant exchange, has launched a Solana asset bridge. This means Base is no longer content with just the Ethereum ecosystem and is beginning to reach out to other chains—cross-chain interoperability has always been a key step in growing an ecosystem.

On the macro level, the news is even more explosive. US federal debt has once again surpassed the $30 trillion mark, which is double what it was in 2018. With debt levels swelling to this point, the trajectory of the dollar, interest rates, and risk assets could all be affected. However, the market seems to have already anticipated this: over the next few years, the federal funds rate may drop to the 3.25%–3.50% range, which would mean a more favorable liquidity environment for crypto assets and other high-risk targets. Former economic advisor Kevin Hassett even stated that the Fed might cut rates by 25 basis points at its next meeting—if this happens, it would be a clearer signal of an easing cycle.

But the most significant news comes from the regulatory side. The US CFTC ( Commodity Futures Trading Commission ) acting chairman officially announced: spot crypto assets can now be traded on CFTC-registered exchanges. This is no minor move—it marks another step up in the US regulatory framework’s acceptance of crypto assets.