Binance co-CEO Yi He hit by WeChat hack amid growing Web2 risks for crypto execs

Ethereum has surged above the $3,350 mark, generating renewed momentum in the cryptocurrency market after a period of uncertainty. Despite this breakout, market sentiment remains cautious, with analysts warning of a potential bear market as traders assess whether this rally is sustainable or a temporary spike before further declines.

Bitcoin's market structure has shown resilience despite a slowdown in trading activity, with prices stabilizing as long-term holders maintain their positions. The transition from volatile trading to a more stable market is evident as Bitcoin flows into cold storage and exchange supply tightens.

Crypto analyst Cryptollica has identified a potential breakout phase for XRP, suggesting that the altcoin may be mirroring the structural pattern observed before its significant rally in 2017. Current price action is centered around $1.95, with targets projected between $9 and $13, as XRP trades at approximately $2.0892. This analysis is based on a long-range log chart from Binance, outlining mirrored cycles from 2014-2017 and 2021-2025.

Andrew Tate engaged in a discussion on social media with Binance founder Changpeng Zhao regarding Bitcoin's market liquidity after a significant purchase of 10,624 BTC by Strategy, which had minimal impact on prices. Tate expressed skepticism about Bitcoin's stability and questioned its value as an investment.

Binance co-CEO Yi He's WeChat account was hacked on December 9, leading to the promotion of a memecoin named MUBARA by scammers in a coordinated pump-and-dump scheme. This incident highlights vulnerabilities in the security of high-profile cryptocurrency executives and their communication channels.

Ethereum has experienced significant inflows to Binance, marking the largest daily exchange netflow since 2023, amidst a period of price consolidation between $3,000 and $3,200. This development has raised concerns among analysts about a potential bearish phase due to weakening demand and market uncertainty.

Circle has secured a Financial Services Permission (FSP) license from the Abu Dhabi Global Market (ADGM), marking a significant step in its expansion into the Middle East and positioning the company to enhance stablecoin adoption in the region.

At the Bitcoin MENA conference, Binance founder Changpeng Zhao (CZ) announced that the traditional four-year Bitcoin cycle is over, predicting a potential Bitcoin supercycle driven by its growing role in global finance. This statement comes amidst a backdrop of fluctuating market conditions and evolving investor sentiment towards Bitcoin.