On December 10 in Washington D.C., Senators Kirsten Gillibrand and Cynthia Lummis detailed plans for the US Congress to advance comprehensive oversight of the cryptocurrency industry, saying they aim to publish a draft of the CLARITY Act, a market structure bill, by the end of this week and hold a hearing next week to amend and vote on it, BlockBeats reported. Lummis said Democrats and Republicans are in ongoing negotiations, held their first bipartisan meeting last week with what she described as very good progress, and claimed that nothing is blocking the bill. Congress has spent years trying to move broader crypto market structure legislation with limited progress, while the House in July passed its version of the Digital Asset Market Structure Clarity Act, which has given new momentum to similar efforts in the Senate. The Senate Banking Committee already has a draft that seeks to delineate oversight between the SEC and CFTC and introduces the term "ancillary assets" to clarify which cryptocurrencies are not securities, while the Senate Agriculture Committee last month released its own draft to grant the CFTC additional authority.

U.S. President Donald Trump said on Dec. 10 he will begin final interviews this week for the next Fed chair and already has a choice, Bloomberg reported. White House NEC Director Kevin Hassett is a leading option. Trump and Treasury Secretary Besent will interview Kevin Warsh on Wednesday.

The Federal Reserve's December meeting carried an 89.6% probability of a 25-basis-point rate cut on December 10, CME's FedWatch data show. The likelihood of the Fed keeping rates unchanged stood at 10.4% on the same date, the CME FedWatch data showed.

Crypto market liquidations totaled 3.62 亿美元 in the 24 hours ending December 10, Coinglass data show. Over the same period, longs were liquidated 8079 万美元, while shorts accounted for 2.82 亿美元.

On Dec. 10, a whale address described as the "1011 flash crash insider" deposited 40 million USDC as margin on Hyperliquid, said on-chain analyst Ai Aunt (@ai_9684xtpa). It plans to place buy orders for 19,108.68 ETH at $3,280, worth $62.67 million. It is currently holding a long position of 80,985.83 ETH with unrealized profit of $17.72 million, a total position value of $269 million and an average entry price of $3,108.49.

Bitcoin climbed back above $94,000 on December 10, with HTX market data showing the price reaching $94,030. The cryptocurrency recorded a 24-hour increase of 4.05% over the same period, according to HTX.

Liquid Capital (formerly LD Capital) founder Yi Lihua said on December 10 that ETH had risen above $3,300 and that he remains optimistic about the subsequent market since taking a full position, BlockBeats reported. He added on social media that investing is challenging and tests an investor's mindset.

A trader opened a $67 million ETH long position with 10x leverage within the past 20 minutes, Lookonchain said on Dec. 10. The position is currently showing more than $578,000 in unrealized gains, the data provider reported.