Polymarket's Dec. 9 market "Will Thailand strike Cambodia?" rose from 37% to 62% within one hour on Dec. 9. Bangkok Post said the Thai Royal Army confirmed an F-16 destroyed a casino used as a drone control station and the air force was targeting rocket bases. Thailand's military said it carried out a "retaliatory" strike after a border clash killed a Thai soldier. The "before Dec. 31" contract jumped from 28% between 8:00 and 10:00 yesterday and settled "Yes", while new Dec. 9 market settles daily and remains unsettled on low trading volume.

On December 9, Arkham launched Zcash on-chain monitoring, tagging 53% of transactions across protected and unprotected activity. The firm attributes $4200 亿美元 in transaction volume and 48% of all inputs and outputs to specific entities, and says 37% of balances have been marked, totaling 25 亿美元. These labels are linked to known individuals and institutions, and ZEC's price previously briefly surpassed $750 on its privacy narrative, according to BlockBeats.

The wallet dubbed "BTC OG 内幕巨鲸" (address (0xb31)) now holds about $217 million in ETH longs with $3.45 million unrealized profit (8%) and a $3,068 average entry after a 2,000 ETH limit buy near $3,120 around 11:00 on December 9. Its position totals 7,000 ETH on Hyperliquid; since the first order the trader logged six winning and one losing derivatives trade: $30 million ETH longs on August 21; a combined $110 million BTC and ETH short on October 11 via two addresses; a $30 million BTC short on October 20; a $20 million BTC long on November 4; a $10 million ETH long on November 25; a $3 million ETH short on November 29; and a $70 million ETH long opened on December 7 that remains in profit. BTC holdings were cut from 88,000 to 37,000 coins since August (about $5.1 billion in net disposals at a $100,000 BTC price) while on-chain holdings remain roughly $5.7 billion, including around $3.32 billion in BTC and $1.83 billion in ETH; notable flows included rotating BTC into ETH between August and October, sending 2,000 BTC to Coinbase on October 16, 3,000 BTC to Binance on October 21, 1,900 BTC to Kraken from October 22 to November 2, and borrowing over 220 million USDT against ETH and sending it to Binance on December 1. Arkham links the address to an eight-year-dormant BTC OG that once held more than 50,000 BTC, notes several trades coincided with statements by Donald Trump and U.S. policy moves, and cites roughly $100 million profit from a $500 million BTC short opened hours before the October 11 price drop; the address is connected to one of BitForex's clients, per Coinbob and Arkham data and BitForex CEO Garrett Jin.

BlockBeats reports that the Hong Kong SAR Government on December 9 launched a public consultation on implementing the OECD's Crypto-Asset Reporting Framework and related amendments to the Common Reporting Standard in Hong Kong. The government aims to complete the required local legislative changes next year, with automatic exchange of tax information on crypto-asset transactions with partner tax jurisdictions targeted from 2028 and implementation of the revised Common Reporting Standard from 2029. Exchanges will apply a reciprocity principle with suitable partners that meet confidentiality and security standards, and the public has been invited to submit views by February 6, 2026. The OECD published the framework in 2023, under which partner tax jurisdictions annually exchange tax data on crypto-asset transactions and incorporate new digital financial products and optimized reporting and due diligence rules into the CRS.

Stripe will launch stablecoin payments on Dec. 12, supporting USDC on Ethereum, Base and Polygon, according to Adam of RWA.xyz. Stripe said it will charge a 1.5% fee on the transaction amount in USD with no fixed fee, and all transactions will settle in USD to users' existing payment balances.

A large BTC options block trade on Deribit on December 9 saw a user buy $90,000 strike put options expiring at the end of January and sell $90,000 strike put options expiring at the end of February, with both legs sized at 375 BTC, according to data shared by a Deribit official. The Deribit representative said the structure reflects a view that Bitcoin could weaken into late January but recover to levels above $90,000 in February. The representative added that some users are positioning for downside in January due to the risk of being removed from the Strategy index at the start of the month, while still maintaining a clearly constructive outlook on the market from February onward.

Bitcoin may be forming a bearish flag pattern and could drop to 7 万美元 on Dec. 9, according to analyst @ali_charts, as cited by BlockBeats. The outlook from the analyst highlights either a potential bearish flag scenario or a move to 7 万美元.

OKX said in an official announcement it will open "闪赚" Midnight (NIGHT) at 16:00 (UTC+8) on Dec 9, totaling 4 亿枚 NIGHT, described as 10 倍 the project's airdrop. The campaign primarily targets OKB holders and supported asset users; subscriptions via OKB, USDT, BTC, ETH or ADA start at 约百 U, with caps increasing from regular users to VIP7+. Users can join in the OKX APP via the top-left "赚币与奖励" section and the 闪赚 page. Under Midnight (NIGHT) official rules, OKX will also distribute airdrops to ADA BTC ETH SOL XRP BNB AVAX and BAT holders, with the first-round total around 4000 万枚.

On Dec. 9, James Wynn warned in frequent posts that crypto and stocks could face a bloodbath and urged investors to prioritize wealth preservation and safety, BlockBeats reported. On Dec. 4, the trader described as "bankrupt" said he had closed a Bitcoin short five days earlier and forecast a rebound to $97,000–$103,000 before another decline. Images he shared indicated a potential low at $46,618. He posted bearish calls on X on Nov. 10 and 25 that anticipated a drop in Bitcoin, though the pullback did not reach his $67,000 target.