Mars Morning News | Binance Registered Users Exceed 300 Million; Coinbase Resumes Registration for Indian Users

CZ: Binance registered users exceed 300 million

Mars Finance News, December 8, Binance founder CZ stated on social media, “The number of registered users on the Binance platform has exceeded 300 million.”

Coinbase resumes registration for Indian users, fiat on-ramps to launch next year

Mars Finance News, Coinbase has reopened registrations for Indian users after being suspended for over two years. Indian users can now conduct crypto-to-crypto trading within the app. John O’Loghlen, head of Coinbase Asia-Pacific, stated at India Blockchain Week that the company plans to launch fiat on-ramps in 2026, allowing users to directly deposit and purchase crypto assets. Coinbase entered the Indian market in 2022 but suspended support for the Unified Payments Interface (UPI) within days after launch as UPI operator NPCI did not confirm Coinbase’s business locally. The company subsequently stopped services for Indian users in 2023 and required them to clear their accounts. O’Loghlen mentioned that the decision to exit was made to restart operations under a compliant framework. This year, Coinbase communicated with the Financial Intelligence Unit of India (FIU) and completed registration, relaunching its app in October via “early access” and now opening to all users. Despite being the world’s second-largest internet market, strict crypto regulations and tax policies pose challenges for industry growth in India. The government imposes a 30% tax on crypto income, disallows loss offsets, and levies a 1% withholding tax on each transaction. Coinbase hopes for future regulatory easing. Despite the strict environment, Coinbase remains optimistic about India, recently investing further in local exchange CoinDCX (post-investment valuation of $2.45 billion) and planning to expand its team of over 500 people in India. O’Loghlen said Coinbase aims to be a trusted platform and provide a safe, convenient trading experience in the Indian market.

10x Research: Bitcoin appears range-bound, but derivatives market pricing in major volatility

Mars Finance News, according to a 10x Research report, recent Bitcoin price fluctuations have been limited, but derivatives market pricing is starting to reflect expectations of significant moves. The report highlights several recent structural signals: volatility is being bought rather than sold, option skew is again leaning toward downside protection, funding rates have fallen, futures open interest is diverging, and ETFs continue to see net outflows. The report suggests that, although the spot market appears stable, capital positioning and pricing structures indicate the market is preparing for sudden events. Bulls often see the US Treasury General Account rebuild, the end of quantitative tightening, and potential rate cuts as liquidity positives, but without consistent market structure support, macro expectations are unlikely to drive sustained trends. 10x Research notes that liquidity alone is not enough for directional moves; it’s still necessary to monitor leverage, position structures, and trade flows for alignment. This weekly report covers Bitcoin and Ethereum derivatives positions, volatility trends, funding rates, ETF and stablecoin flows, options activity, and potential ranges and key catalysts over the next 1-2 weeks.

ZKsync announces ZKsync Lite deprecation in 2026

Mars Finance News, according to official sources, ZKsync announced plans to stop supporting ZKsync Lite (i.e., ZKsync 1.0)—the first ZK-rollup launched by ZKsync on Ethereum—in 2026. Everything continues as normal for now, with no immediate action required; ZKsync Lite will keep running. Funds remain safe, and withdrawals to L1 will be supported throughout the deprecation process.

ZKsync will publish detailed deprecation plans over the next year and will soon announce specific details, timelines, and migration guidance.

Pakistan signals strengthened crypto regulation after Binance meeting

Mars Finance News, Pakistan announced it would move forward with digital asset regulation plans after meetings with a Binance delegation. Prime Minister Shehbaz Sharif and Army Chief General Syed Asim Munir attended the meeting, with Binance CEO Richard Teng leading the delegation. Pakistan’s Virtual Assets Regulatory Authority (PVARA) chairman Bilal Bin Saqib presented the country’s regulatory plans to Binance. The Prime Minister’s Office stated that Pakistan aims to establish a “transparent and secure” digital asset framework to protect investors while encouraging innovation. The meeting is part of Pakistan’s broader efforts this year to formalize crypto regulation, including establishing a dedicated digital asset regulator and clarifying exchange rules. Saqib also mentioned that Pakistan is developing a sovereign stablecoin and exploring central bank digital currency (CBDC). According to Chainalysis, Pakistan ranks among the top countries globally for crypto adoption.

CZ: Binance registered users exceed 300 million

Mars Finance News, December 8, Binance founder CZ stated on social media, “The number of registered users on the Binance platform has exceeded 300 million.”

Canada obtains data on 2,500 Dapper Labs users in second crypto tax probe

Mars Finance News, according to The Block, court documents obtained by the Canadian Press show that over the past three years, Canadian tax authorities have collected over 100 million CAD (about $72 million) in taxes from crypto-related audits, but have not filed any criminal charges since 2020, revealing structural limitations in law enforcement capabilities. The Canada Revenue Agency (CRA) audit team has handled over 230 files and estimates that 40% of taxpayers using crypto platforms are either non-compliant or at high risk of noncompliance. However, the CRA admits it “cannot reliably identify crypto-related taxpayers or assess their income tax compliance.” The report also states that the CRA obtained data on 2,500 users from Dapper Labs through a court order. The CRA initially sought information on Dapper’s top 18,000 users, but after negotiations with company executives and lawyers, the number was set to 2,500. The CRA’s application to the federal court in September follows a similar order issued in 2020 to Toronto exchange Coinsquare, marking the second time a Canadian crypto company has been ordered to disclose such information.

ZKsync announces ZKsync Lite deprecation in 2026

Mars Finance News, December 8, according to official sources, ZKsync announced plans to stop supporting ZKsync Lite (i.e., ZKsync 1.0)—the first ZK-rollup launched by ZKsync on Ethereum—in 2026. Everything continues as normal for now, with no immediate action required; ZKsync Lite will keep running. Funds remain safe, and withdrawals to L1 will be supported throughout the deprecation process. ZKsync will publish detailed deprecation plans over the next year and will soon announce specific details, timelines, and migration guidance.

CICC: If Hassett becomes Fed chair, US Treasury yields and USD may fall first then rise

Mars Finance News, December 8, according to a research report by CICC, if Hassett becomes the new Fed chair under the baseline scenario, US Treasury yields and the USD may first dip then rise, which would generally be positive for US stocks. In terms of timeline, Trump would announce the new chair nomination in early 2026. For Hassett, he would first need to be nominated and confirmed as a Fed governor, then nominated and confirmed as chair, officially taking over after current chair Powell’s term ends in May 2026, and could lead the June FOMC meeting at the earliest. Next year’s first quarter will be a key period when the new chair nomination starts to influence market expectations. If Hassett adopts an excessively dovish stance at that time, US Treasury yields and the USD may fall more than expected temporarily. However, as long as the position doesn’t cross the line into “loss of independence concerns,” expectations materializing along with a US economic recovery could turn yields and the USD upward. (Jin10)

CICC: If Hassett becomes Fed chair, US Treasury yields and USD may fall first then rise

Mars Finance News, December 8, according to a research report by CICC, if Hassett becomes the new Fed chair under the baseline scenario, US Treasury yields and the USD may first dip then rise, which would generally be positive for US stocks. In terms of timeline, Trump would announce the new chair nomination in early 2026. For Hassett, he would first need to be nominated and confirmed as a Fed governor, then nominated and confirmed as chair, officially taking over after current chair Powell’s term ends in May 2026, and could lead the June FOMC meeting at the earliest. Next year’s first quarter will be a key period when the new chair nomination starts to influence market expectations. If Hassett adopts an excessively dovish stance at that time, US Treasury yields and the USD may fall more than expected temporarily. However, as long as the position doesn’t cross the line into “loss of independence concerns,” expectations materializing along with a US economic recovery could turn yields and the USD upward. (Jin10)