On December 1st, during the Asian early session, the price of Bitcoin fell nearly 5%, dropping below $87,000, erasing recent gains. This decline is mainly attributed to the surge in Japanese government bond yields, which triggered a risk aversion sentiment, coupled with low trading volume leading to severe market liquidity shortages. Data shows that Bitcoin has moved down from the $91,000 consolidation range, with the total market capitalization of Crypto Assets evaporating by about $150 billion. 10x Research pointed out that the crypto market experienced its lowest trading volume week since July, with a thin order book unable to withstand institutional selling pressure, causing the price decline to evolve from a technical correction into a liquidity crisis. BRN research director Timothy Misir stated that this is not a controlled correction, but rather a liquidity shock caused by position adjustments and macro re-pricing. In November, Bitcoin's market capitalization fell by nearly 18%, and market momentum quickly reversed, forcing leveraged long positions to be liquidated.

XRP price fell to $2 on Monday, sparking traders' interest in the upcoming Spot XRP ETF. In the overall dumping wave of the Crypto Assets market, XRP's decline surpassed that of Ethereum and BNB, primarily influenced by the liquidation of leveraged positions and ETF expectations. Data shows a significant outflow of funds from the sector in the past 12 hours, indicating clear short-term selling pressure. Market analysts point out that this decline was not triggered by any new fundamental events, but rather typical leverage liquidation and "news dumping" effects. Traders view the Spot XRP ETF as a potential bearish factor, similar to the market reaction when Canary Capital and Bitwise launched their products. Historical experience shows that the initial listing of an ETF is often accompanied by short-term price fluctuations, followed by a possible correction.

Golden Finance reported that Musk said in a conversation with investor and podcast host Nikhil Kamath released on Sunday that the only way for the U.S. to escape its deepening fiscal predicament is through productivity driven by AI and Bots. Musk stated that this is almost the only way to solve the U.S. debt crisis. He added that this is likely to bring about significant deflation. According to data from the U.S. Department of the Treasury, as of November 26, the national debt of the United States has reached $38.34 trillion, more than double what it was ten years ago. Musk stated that AI currently does not have sufficient productivity improvements to make economic output exceed the inflation rate, but this is about to change. He said that within three years or less, his judgment is that the output of goods and services will exceed the rate of inflation. Musk stated that advancements in AI and Bots technology will bring humanity into an era where work becomes optional.

BlockBeats news, on December 1st, despite market rumors that Fed Chairman Powell will announce his resignation at an emergency meeting on Monday at 7 PM Eastern Time. However, according to related predictions on Polymarket, the probability of "Powell resigning as Fed Chairman this year" is only 3%.

PANews, December 1st news, Yearn tweeted that the recent yETH-related attack did not affect the yCRV product.

Odaily News Regarding the accusation that Monad ecosystem developers claim Wintermute is acting as a market maker but is shorting MON, Wintermute founder Evgeny Gaevoy refuted the claim by stating, "Do not make unverified statements." Later, community members asked Evgeny if he was going long, to which Evgeny responded, "In fact, yes."

Kyle Samani, co-founder of Multicoin, posted on X calling for projects to unlock 100% on the first day for effective price discovery, and mentioned the unlocking model of Solana. He suggested that the team should have a Lock-up Position while investors do not, believing this rationalizes the role of investors, and proposed a mechanism for unlocking based on price or time triggers.

The current pullback in the crypto market is mainly influenced by the concentrated clearing events in October and a tightening macro environment, with low liquidity and leverage issues exacerbating uncertainty. The market lacks new capital inflows, and the rebound in the secondary market is weak. Future influencing factors include interest rate policies and on-chain economic activities, with investors following the Bitcoin range of $100,000—$110,000. If there is no excessive leverage or large outflows, a reversal may be seen.

According to Jinse Finance, the board of Alt5 Sigma, a reserve company associated with the Trump family, did not learn of the conviction in May for the money laundering case in Rwanda until the end of August, several months after the World Liberty Financial transaction. Previously, ALT5Sigma announced that it had fired several executives, including acting CEO Jonathan Hugh and COO Ron.

Golden Finance reports that Tether CEO Paolo Ardoino posted on the X platform, stating that according to the latest verification report for the third quarter of this year, Tether holds billions of dollars in excess reserve buffers, with total assets reaching approximately $215 billion, while the liabilities of the stablecoin are about $184.5 billion. Furthermore, S&P's mistake lies in not considering that Tether alone holds U.S. Treasury bonds that can generate approximately $500 million in profit each month, and they likely did so intentionally to support Tether's competitors.

According to ChainCatcher news, WBTC has officially logged in to JustLend DAO. Users can now deposit or borrow WBTC on the platform, unlocking more efficient asset strategies and diversified yield combinations. This move not only injects liquidity of top global crypto assets into the TRON ecosystem, expands the strategic dimensions of on-chain finance, but also provides community users with richer earning opportunities and more flexible asset portfolio choices.

PANews reported on November 30 that the People's Bank of China recently held a meeting of the coordination mechanism for combating virtual money trading speculation. At this meeting, financial regulatory authorities defined stablecoins for the first time, clarifying that stablecoins are a form of virtual money. Currently, they cannot effectively meet the requirements for customer identification, AML, and other aspects, and there is a risk of being used for money laundering, fundraising fraud, and illegal cross-border fund transfers. The meeting reiterated the need to continue cracking down on illegal financial activities related to virtual money. However, industry insiders believe that this meeting will not affect the layout of stablecoins in Hong Kong, but speculation on stablecoins in mainland China will be severely suppressed. Moreover, relevant entities in the mainland will see their scope for future stablecoin layouts in Hong Kong shrink significantly, being more limited to practical application scenarios such as cross-border payments and supply chain finance.

Economic analyst Timothy Peterson pointed out that the current Bitcoin trend is highly similar to the Bear Market of 2022, with a daily chart correlation of 80% and a monthly correlation of 98%. If history repeats itself, the Bitcoin price rebound may not occur until the first quarter of next year. Despite experiencing a fall, Crypto Assets have shown signs of a Rebound, and there may be another "Christmas rally" before the end of the year.

Odaily News Strategy CEO Phong Le stated in a recent interview that the company will only consider selling Bitcoin when its stock price falls below net asset value and it is unable to secure new funding. However, he emphasized that this is not a shift in its long-term policy or an active dumping plan, but rather a "financial decision" that is made only in extreme market conditions and when the capital environment deteriorates. Strategy has launched a new "BTC Credit" dashboard this month in response to recent market concerns about its liabilities and liquidity. The company claims that even if Bitcoin prices remain depressed over the long term, its debt structure and cash flow coverage remain robust. (Cointelegraph)

BlockBeats news, on November 30, Arthur Hayes and Monad co-founder Keone Hon continued their verbal battle over "Monad as a high FDV low circulation VC coin." Keone Hon pointed out that the project party of the investment portfolio under Arthur Hayes' family office Maelstrom has not unlocked all the tokens either. Arthur responded: "The projects we are currently or have previously invested in or advised also have a large amount of locked-up tokens. My advice to founders has always been that the team's and investors' tokens should be fully unlocked 100% as soon as possible, preferably unlocked all at once immediately." "Then one of the following two situations will happen: the price will drop to zero directly, and if there is no organic demand based on actual usage, it will remain there; or the price will first experience a big dump, and then..."

The National Bank of Kazakhstan is considering investing in encryption assets, with funding potentially reaching $300 million, but the specific scale has not yet been determined. The chairman stated that caution is needed to get on board, and the funds will come from forex reserves. The national-level encryption fund Alem Crypto Fund has completed its first investment.

HyperLiquid data shows that the largest short positions address for BTC incurred a loss of approximately $5.041 million this week after reducing its position, having shorted BTC at a high of $120,000. It currently still holds 1101.9 BTC, with a liquidation price of $99,116.1, and the 1300 limit buy orders placed have not yet been executed.

ChainCatcher news, Swiss crypto bank Amina Bank has recently completed a pilot project using Distributed Ledger Technology (DLT) in collaboration with Crypto Finance Group and its partner banks through Google Cloud Universal Ledger: enabling fiat settlement between regulated banks in Switzerland, achieving near real-time, 24/7 availability. The pilot did not introduce any new digital money, but instead continued to use traditional commercial bank funds, demonstrating that DLT technology can seamlessly integrate with existing banking systems within the current regulatory and compliance framework. Officials stated that this achievement lays the foundation for future promotion of "cross-border payments," "multi-currency settlements," and "physical point of sale (POS) integrated payments," suggesting that the TradFi system may be on the verge of a transformation.

Keone Hon, the founder of Monad, responded to Arthur Hayes' criticism by stating that Hayes did not provide specific comments and pointed out that his investment projects also have Lock-up Position tokens. He believes that the current Blockchain is still evolving and cannot be in its final form.

Golden Finance reports that the encryption payment company Truther will launch a new card in El Salvador on January 29, allowing users to spend USDT directly from their self-custody Wallet through a partnership with Visa. The card does not require preloaded funds or custodial services, and the currency exchange fee is 2%, with Brazilian users exempt from IOF tax. Truther plans to expand its services to countries such as Argentina, Mexico, Colombia, and Russia, and will integrate more local stablecoins into its self-custody Wallet by early 2025.

Golden Finance reports that on November 28, 2025, the People's Bank of China held a coordination meeting to combat the speculation and trading of Virtual Money. The meeting emphasized that Virtual Money does not have the same legal status as legal tender, does not have legal compensation, and should not and cannot be circulated as money in the market. Activities related to Virtual Money are considered illegal financial activities. Stablecoins are a form of Virtual Money that currently cannot effectively meet customer identification, anti-money laundering, and other requirements, posing risks of being used for illegal activities such as money laundering, fundraising fraud, and illegal cross-border fund transfers. (People's Bank of China website)

Nillion has announced the initiation of a buyback plan due to the fluctuation in the price of the NIL Token, but it has been suspended after trading conditions worsened. A comprehensive structured buyback plan is currently being developed to ensure that it does not cause market turmoil and to accelerate the transition of new market makers.

Alliance DAO co-founder QwQiao stated that they will not be shorting L1 Tokens, but believe it is not a quality investment, pointing out that L1 Tokens lack competitive advantages and are prone to commoditization. He suggested following the Application Layer as a potential way out.

PANews, November 29 news, CZ tweeted, "Although this view is not very popular, it is best to sell when the market greed reaches its peak and buy when the market fear reaches its peak."

PANews, November 29 news, according to CCTV news, the Macro-Prudential Management Bureau of the People's Bank of China has recently issued a notice to fully support the search and rescue of personnel, medical treatment of the injured, and post-incident comfort work for the fire in Tai Po, Hong Kong, ensuring that donations received domestically are credited with zero latency. The People's Bank supports commercial banks in establishing a green channel for cross-border RMB donations. Commercial banks do not need to review document materials and can directly transfer donations to the Tai Po Hong Fu Yuan Assistance Fund account (01287521901607) based on payment instructions from domestic institutions or individuals, and ensure proper submission of RCPMIS data as required.

Terminal Finance announces the termination of the Terminal project due to the reliance on the Converge chain, which has not gone live, leading to a lack of ecological foundation. Although the code has been completed, the team believes that continuing to push forward is not feasible and promises that users' principal will be preserved at a 1:1 ratio, allowing users to withdraw their assets at any time.

According to Jinse Finance, U.S. President Trump: All documents signed by "Sleepy Joe Biden" through an automatic signature device (about 92% of his signed documents) are hereby nullified and permanently invalid. The automatic signature device may not be used without special approval from the U.S. President. Radical leftist crazies surrounding the Resolute Desk in the Oval Office have stripped Biden of his presidential powers. I hereby revoke all executive orders and other documents not personally signed by Biden, due to illegal operations by the automatic signature device operator. Joe Biden did not participate in the automatic signature process, and if he claims to have participated, he will face perjury charges. Please be advised!

The Ethena ecological project Terminal Finance has announced its shutdown due to the inability to provide services resulting from the Converge chain not launching on schedule. Despite exploring various transformation options without success, the project promises that all user deposits will be preserved 1:1 and will allow withdrawals. The team will open source the protocol codebase to maintain integrity and accountability.

The Chicago Mercantile Exchange (CME) gradually resumed forex trading at 20:00 Beijing time after experiencing several hours of global market trading interruption, but has not yet announced the recovery times for other markets. This interruption lasted longer than a similar event in 2019, highlighting the extensive impact of the CME and its Globex platform. After the resumption, trading fluctuations in the forex market were minimal.

ChainCatcher news, Yala has posted on the X platform stating that all native BTC under the institutional model will be withdrawn from the Yala protocol. This process is completely separate from retail investor activities and will not affect the retail investor's YU balance or redemption rights. The complete redemption plan and timetable will be announced on December 15. In addition, Yala will release an updated roadmap outlining the next phase of development, including a shift towards AI-driven agent prediction.

Golden Finance reports that the stablecoin protocol Yala plans to remove the native BTC under institutional mode on the X platform, but will not completely destroy YBTC. Some YU remains locked in the Euler pool, and the retail investor YU balance and redemption rights are not affected. The redemption plan will be announced on December 15.

TSMC recently confirmed that its Fab 21 factory in Arizona experienced production disruptions in late September due to a power outage from a supplier. According to insider Tim Culpan, the outage forced the factory to scrap some wafers, but TSMC has not disclosed the specific number of losses or economic impact. A TSMC representative confirmed to Tom's Hardware that the power outage did occur but did not confirm whether it resulted in wafer losses. The power outage originated from the UK industrial gas supplier Linde, which is responsible for supplying critical materials to Fab 21. Although the Fab 21 plant itself did not experience a power cut (equipped with backup generators), the disruption in the supply of critical materials forced the plant to halt production for several hours and caused potential losses. TSMC in the US must rely on external suppliers to manage gas infrastructure, while in Taiwan it is managed internally, making Fab 21 more susceptible to supply chain disruptions.

Since November 21, XRP has risen nearly 26%, but the price is hovering in a key range, with a relatively mild pump. Recently, buying pressure on the exchange has surged, while the price fall has failed to break through the support level, indicating limited selling momentum. XRP is still below the key resistance level since mid-November. If it breaks through that resistance level, the trend may reverse. The price is currently fluctuating within a descending wedge, which is usually a bullish signal. Once the buying power strengthens, the price is expected to break upward. Since November 25, the lower boundary of $2.14 has absorbed all selling attempts, and even with the 100-day and 200-day EMA completing a death cross, the price has not fallen below the support.

The European Central Bank recently made a clear statement regarding Bitcoin reserves, indicating that it will not include Bitcoin in its official reserves. This decision has sparked heated discussions in the global crypto world, with the market and investors showing high concern for the future direction of European digital assets. The European Central Bank emphasizes that Bitcoin reserves do not align with its long-term framework. The bank prefers assets that are stable, have clear valuations, and a historically reliable safety record, whereas Bitcoin has yet to meet these standards. In its statement, the European Central Bank pointed out that further regulatory strengthening is needed to ensure that the risks are manageable before Bitcoin is included in the official financial system.

ChainCatcher news, according to a report by Cointelegraph, the International Monetary Fund (IMF) recently released a video warning that although the tokenization market can make financial transactions faster and cheaper, this technology also brings new systemic risks. The IMF acknowledges that tokenization can lead to significant cost savings by reducing intermediaries and enabling instant settlements, but it also points out that automated trading could increase market volatility and the risk of flash crashes. Complex smart contracts chains under market pressure could trigger a chain reaction like "dominoes," turning localized issues into systemic shocks. The IMF predicts that based on historical experience, governments will not remain spectators in this important monetary evolution and will play a more active role in the field of tokenization in the future.

On November 28, news emerged that on the afternoon of November 26, 2025, a level five fire broke out in Wangfu Garden, Tai Po, New Territories, Hong Kong, resulting in significant casualties and property losses. This severe disaster has touched the hearts of the entire Hong Kong and even the global Chinese community, prompting swift action from all sectors through donations, material assistance, and volunteer services to support the affected residents. In this context, the AB Charity Foundation donated 10 million Hong Kong dollars to the Hong Kong General Association for the Promotion of Peaceful Reunification of China, jointly participating in the fire rescue and post-disaster community reconstruction work at Tai Po Wang Fuk Court, working together to promote the sustainable development of humanitarian assistance and related public undertakings. The AB Charity Foundation was established in May 2025 in Ireland, dedicated to promoting global public welfare, with a particular focus on vulnerable groups affected by war and natural disasters, especially women and children. This donation not only reflects the core mission of the AB Charity Foundation of "technology for good," but also demonstrates its holistic approach to the planet, transcending regions and cultures.

The crypto assets market welcomes the options delivery day, with BTC and ETH respectively expiring 143,000 and 572,000 options. Market sentiment has improved, but due to macro uncertainties, analysts do not recommend leveraged operations.

Foresight News reported that, according to China News Weekly, court documents show that Qian Zhimin purchased a total of 194,951 Bitcoins, which is higher than the 61,000 coins identified by the police, but the court did not disclose the situation regarding the remaining over 120,000 Bitcoins. In an interview with British media, Detective Joe Ryan from the London Metropolitan Police revealed that Qian Zhimin claimed that the "password" for a Wallet containing 20,000 Bitcoins was "lost." Based on the latest exchange market price, these "lost" Bitcoins are valued at approximately 12.5 billion.

The South African Reserve Bank (SARB) clearly stated in its latest research report that while retail Central Bank Digital Currency (CBDC) is technically feasible, South Africa does not urgently need to launch a digital rand at this time and should focus on upgrading and reforming the existing payment system. The report points out that improving payment infrastructure, enhancing settlement speed, and expanding the participation of non-bank institutions are more realistic and faster ways to enhance financial accessibility. In contrast, launching a public-facing CBDC will require a completely new legal and technical framework, with higher implementation costs and longer cycles. Therefore, SARB will focus on the wholesale scenarios of digital money and improving cross-border payment efficiency, rather than promoting consumer-facing CBDC.

According to BlockBeats news, on November 28, kain.mega, the founder of Infinex, stated on social media that it should be made clear that the intention behind Infinex's restart of the ICO is not to guarantee profits for everyone, but to eliminate the eyewash system of "low Circulating Supply and high Fully Diluted Valuation"—in that model, no one can profit except for three venture capital institutions.

Jin10 reports that there has been an increasing buzz in the market about Google's (GOOG.O) self-developed TPU, raising concerns about its impact on NVIDIA's market share in AI chips. NVIDIA CEO Jen-Hsun Huang stated that the AI market is vast and growing rapidly, with competition occurring daily, and NVIDIA must "run faster." He emphasized that NVIDIA's positioning is "very unique and solid," with a core focus on the high versatility of its GPUs and platform, which can be deployed in major cloud environments and is currently the only system capable of running all AI models. Regardless of customer needs, NVIDIA can provide complete solutions.

MegaETH officially announced that it will refund all funds raised through the pre-stored bridge, as the execution did not meet expectations. The refund process will be distributed as soon as possible after a new smart contract audit. At the same time, the conversion bridge for exchanging USDC to USDM will be reopened to increase liquidity before the Mainnet launch.

BlockBeats news, on November 28, Alliance DAO co-founder QwQiao posted on social media stating, "The reason I find it difficult to convince myself to hold L1 public chain tokens long-term is not because their price-to-earnings (P/E) ratios are high, but because they lack a moat. Without a moat, they will become commoditized and fail to capture meaningful value. Nowadays, users can easily transfer across chains. Apart from a few complex smart contracts, most application developers can quickly migrate from one chain to another. Moreover, launching a new chain is easier than ever. The switching costs for Blockchain are far less than that of infrastructures like AWS. The only way I see chains strengthening their moats is by verticalizing and controlling the Application Layer. My observation is that Solana, Base, and...

PANews, November 27 - The Dutch Bitcoin platform Blockrise announced that it has been authorized by the Netherlands Authority for the Financial Markets (AFM) under the EU MiCAR to provide Bitcoin-related services in Europe. Blockrise is a "Bitcoin-only" platform that will offer loans collateralized by Bitcoin to corporate clients, with a minimum loan amount of 20,000 euros. Clients retain ownership of the pledged BTC and it will not be re-staked. The company previously raised 2 million euros in seed funding and is now planning to initiate a 15 million euro Series A round to expand its market and credit business in the EU.

BlockBeats news, on November 27, wealth management company Swissblock stated that Bitcoin had low Trading Volume and high Fluctuation during Thanksgiving, presenting a good opportunity for tactical operations rather than a structural trend. When macro Liquidity and capital flow remain weak, these Fluctuations should be viewed as "noise" rather than market signals.

Odaily News CZ stated in a post commenting on the relationship between BNB price and ecosystem that in the short term, price and ecological development are not always proportional, but in the long run, they indeed are.

Odaily News Alliance DAO co-founder responded to the previous viewpoint that "crypto bros will face stronger opponents when trading U.S. stocks" by stating that he is clear about this because he himself was one of the "professional counterparties" in the U.S. stock market ten years ago. He stated, "In the U.S. stock market, about 1 in every 20 trades is against my counterparty. I know my level at that time, and I am aware of the strength of my peers like Jump, Citadel, etc.—any market inefficiency you can think of has been completely squeezed out by us." He emphasized that retail investors might "get lucky for a few months," but the only way to make stable profits in the long term is straightforward: buy quality assets and hold them long-term, most likely index funds. If everyone does this, the professional trading industry will not be able to sustain itself. He concluded by writing: "The worst performer at the table.

PANews, November 27, reported that Aave founder Stani Kulechov stated that the UK's HM Revenue and Customs (HMRC) has released the tax consultation results regarding DeFi lending and staking activities, proposing a "No Gain No Loss (NGNL)" tax treatment suggestion, which means that when users deposit crypto assets into protocols like Aave, it is not regarded as a capital gains disposal. If this policy is legislated, it will greatly simplify the reporting burden for users and is seen as a significant victory for DeFi users. The Aave team participated in the consultation process and urged that this policy reflects the economic substance of on-chain interactions.

Stani.eth, the founder of Aave, stated that the consultation results from HM Revenue and Customs indicate that deposits made by users on Aave will not be regarded as a disposal for Capital Gains Tax purposes, which is a significant victory for UK DeFi users looking to borrow stablecoins. He emphasized support for this tax treatment and looks forward to it being reflected in the tax law soon.