Odaily News: The Flow Foundation posted on X, stating that the foundation and Flow's development company, Dapper Labs, have submitted an application to the Seoul Central District Court, requesting the suspension of the plan by three Korean exchanges—Upbit, Bithumb, and Coinone—to delist FLOW, originally scheduled for March 16.The Flow Foundation added that following the security incident on December 27 (in which no user funds were affected and all counterfeit tokens have been permanently destroyed), other major global exchanges have now completed independent reviews and have fully restored services for FLOW.

Odaily Planet Daily reports that Dapper Labs CEO Roham posted on the X platform that Flow suffered a serious security incident this weekend, with attackers exploiting an execution-layer vulnerability to steal millions of dollars. The attack was subsequently stopped through collaboration among various parties in the Flow ecosystem. Validators shut down the network within 30 minutes, and the Flow core development team and community developers identified and patched the vulnerability. Within the following 48 hours, the Flow Foundation, bridging operators, exchanges, and ecosystem developers reached a consensus on a fix. As of this morning, the network under the Cadence environment has been fully restored, with 99.9% of accounts recovered. Roham pointed out that this incident protected consumer accounts; due to the architecture isolating the loss, the decentralized process remained stable under stress, and Dapper users were safe throughout.

According to Odaily, the Canada Revenue Agency (CRA) stated that approximately 40% of taxpayers using crypto platforms are involved in tax evasion or high-risk non-compliance activities. In an emailed statement, the CRA said its crypto asset audit team, consisting of 35 auditors, is handling over 230 related cases and has "recovered over $100 million in taxes" through audits over the past three years. The CRA acknowledged that current Canadian law has significant limitations in identifying crypto asset users, and that regulators "cannot reliably identify crypto users and assess their tax compliance." Therefore, the CRA repeatedly attempted to request platforms to disclose user data, including requesting data on Dapper Labs' top 18,000 users, but ultimately only obtained information on 2,500 users after negotiations between lawyers and officials. In October, the Canadian Department of Finance announced new legislation to close regulatory loopholes, to be introduced in the spring of 2026. Finance Minister François-Philippe Champagne stated that the government will establish a dedicated financial crime agency to combat rapidly evolving fraud and financial crime. Meanwhile, the Financial Intelligence Centre of Canada (FINTRAC) continues to strengthen its anti-money laundering enforcement, recently fining KuCoin's operating entity, Peken Global, over CAD 19.5 million for reasons including failing to register as a foreign money services company as required. (CoinDesk)

1. The Canada Revenue Agency has launched a crypto tax investigation targeting Dapper Labs users; 2. Dubai Customs and Binance are collaborating to promote the application of crypto payments; 3. CICC: If Hassett becomes the Fed Chair, it may cause US Treasury yields and the dollar to fall first and then rise; 4. Coinbase restarts registration for Indian users and will launch fiat currency deposits next year; 5. 10x Research: Bitcoin appears to be maintaining range-bound trading, while the derivatives market has already anticipated significant volatility; 6. HumidiFi announced that it will launch a public sale of its new tokens on December 8th at 23:00; 7. The Hong Kong Investment Corporation appointed ten institutions as asset management companies for the "New Investment Immigration Scheme" 2025; 8. K33 Research: The market is more likely to rise sharply than fall again; December may present a good opportunity to build positions. 9. ZKsync announced that it will cease maintenance of the original ZKsync Lite version next year; 10. Glassnode: After Bitcoin stabilized, investor panic subsided, and funds began to flow into call options; 11. Trump plans to replace personal income tax with tariff revenue.

According to Odaily, the Canada Revenue Agency (CRA) is launching its second-ever search for cryptocurrency tax information on Dapper Labs users. Court documents show that the CRA has obtained data on 2,500 users through a court order. The original plan was to obtain information on the first 18,000 users, but this was ultimately reduced after consultation with Dapper's management and lawyers. Over the past three years, the CRA has collected over $100 million in taxes through crypto-related audits, but has not filed any criminal charges since 2020. The CRA's 35-person crypto audit team has handled over 230 cases, estimating that approximately 40% of taxpayers using crypto platforms have unreported or high-risk non-compliance records. However, the CRA's top crypto auditor acknowledged in an affidavit that the agency "has been unable to reliably identify crypto asset users and assess their tax compliance." This action marks the second time a Canadian court has issued a similar order to a crypto company, following a 2020 court order requiring Toronto-based exchange Coinsquare to provide user information. Dapper Labs has not yet responded to The Block's request for comment. Despite progress in tax collection, the CRA faces significant challenges in enforcement. Since 2020, the CRA has initiated five criminal investigations involving digital assets, four of which are ongoing but have not yet resulted in charges, citing reasons such as the complexity of cross-border activities, limited evidence, and reliance on international cooperation. The agency states that such investigations typically take years. Meanwhile, Canada is pushing forward with stablecoin legislation and plans to launch a new agency specifically to combat financial crime by spring 2026. Another regulatory body, FINTRAC, has been more active recently, issuing multiple anti-money laundering and sanctions fines to Cryptomous, KuCoin, and Binance for violations. (The Block)

Odaily News Digital asset financial institution Arca and crypto investment institution BlockTower Capital have signed a letter of intent for an all-equity transaction. The respective business units of both parties will transition to a unified brand, but BlockTower Venture Capital will remain independent. Arca co-founder and chief investment officer Jeff Dorman pointed out that new investment tools are expected to be launched after the merger. According to venture capital tracking agency DealRooms, BlockTower Capital has invested in Aptos Labs, Dapper Labs and Solana, while Arca's portfolio includes Mintify and Bitwave. (The Block)

Odaily News Kraken has appointed former Dapper Labs CFO Stephanie Lemmerman as CFO, replacing current CFO Carrie Dolan, who announced plans to resign earlier this year. Stephanie Lemmerman has also served as CFO of Recharge Payments and executive vice president of finance at Headspace. Prior to that, she worked at Activision Blizzard for seven years, overseeing global teams in corporate planning and accounting. (Bloomberg)

Odaily News Orange Cap Games, a blockchain game development studio, announced the completion of a $2 million Pre-Seed angel round of financing, with participation from Igloo Inc, LayerZero CEO Bryan Pellegrino, YGG founder Gabriel Dizon, Dapper Labs executive Amber, and others. It is reported that the funds from this round of financing will be used for its upcoming collectible card game Vibes, which also received IP support from Pudgy Penguins.

Odaily News According to a recent report by FT, Kamala Harris will meet with digital asset giants Ripple, Coinbase and Circle, and multiple sources indicate that the Harris campaign is reconsidering the issue of cryptocurrency. At the same time, Silicon Valley is reconsidering its position on it. While many tech figures have abandoned the Democratic Party during Biden's presidential campaign, about 100 venture capitalists and founders have pledged to support Harris, including some cryptocurrency figures. Among the more than 100 venture capital investors, founders and technology leaders who signed their commitment to support Harris on Wednesday are the following crypto industry figures: 1. Ron Conway: Managing partner and founder of SV Angel. The fund is an investor in at least 10 crypto companies, including Coinbase, Uniswap and OpenSea; 2. Ryan Morrison: Partner of Founders Circle Capital, which has invested in Robinhood, a retail investment app that provides crypto services, and FalconX, a digital asset brokerage; 3. Rebecca Kaden: USV's first female managing partner. USV has 24 crypto companies in its portfolio, including Coinbase, Blackbird Labs, Dapper Labs and Polychain Capital. Kaden donated $4,000 to Democratic candidates and committees last year; 4. Mark Cuban: Investor in 20 blockchain companies, including Arbitrum, Polygon and DeepSea. Cuban is a staunch critic of Trump; 5. Reid Hoffman: Co-founder of LinkedIn and partner of Greylock, has invested in six crypto companies including Coinbase. On Wednesday, he called supporting Harris "an investment in the future of our democracy." (Fortune)

Odaily News Several venture capital firms that have invested in the crypto industry are seizing the trend of artificial intelligence. The list of supporters of Stability.AI's $80 million investment includes several institutions that invest in the crypto field. According to relevant documents, Lightspeed Ventures and Coatue invested $2.4 million and $4.9 million respectively. Lightspeed is an investor in Ripple, Solana and Yuga Labs, and Coatue is an investor in crypto companies such as Chainalysis, CertiK, and Dapper Labs. Both investment companies have also provided funding for blockchain infrastructure startup Alchemy. In addition, Greycroft Partners invested about $20 million. It is reported that there are currently 270,000 users on Stability.AI's Discord, who have created more than 400 million pictures, and can also create audio and video based on user prompts. (DL News)