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Summary
6-Hour Summary
12/01/2025, 03:15
The crypto market experienced a sharp correction over the last six hours, with Bitcoin plunging below $88,000 and total market capitalization falling under $3 trillion. This risk-off move triggered over $400 million in leveraged liquidations, contrasting sharply with traditional safe havens as Gold reclaimed $4,250 and Silver broke historical highs. The decline was broad-based, with Layer 2 tokens leading the drop amid significant leverage flushing.
Despite the negative price action, institutional and corporate adoption continues to accelerate. Sony Bank announced plans for a US dollar stablecoin by FY2026, Robinhood introduced tokenized stocks for the EU market, and BlackRock executives highlighted the immense profitability of their Bitcoin ETF. Additionally, HashKey Holdings advanced its IPO plans in Hong Kong, and Grayscale is preparing to launch a spot Chainlink ETF.
On the macro front, rising Japanese bond yields and a contraction in China's manufacturing PMI are adding complexity to the global outlook, while traders await the imminent announcement of President Trump's Federal Reserve Chair pick. Specific protocol developments include a $9 million exploit on Yearn Finance's yETH pool and the launch of 'Cocoon,' a decentralized AI network on TON by Telegram founder Pavel Durov.
Bitcoin Plunges Below $88,000 Triggering $400M in Liquidations
・Bitcoin dropped sharply to trade below $88,000, dragging the total crypto market cap under $3 trillion.
・The move flushed over $400 million in leveraged positions within an hour, causing significant losses for whales like 'Machi Big Brother.'
・This correction coincides with Gold reclaiming $4,250 and Silver hitting historical highs, highlighting a divergence in asset performance.
関連
Sony Bank Targets FY2026 for US Dollar Stablecoin Launch
・Sony Bank plans to issue a US dollar-pegged stablecoin specifically for its gaming and anime IP ecosystem by FY2026.
・The initiative aims to reduce transaction costs and improve global settlement efficiency within Sony's economic zone.
・This represents a significant expansion of traditional banking into Web3 infrastructure to support entertainment payments.
関連
Institutional Giants Expand Crypto Footprint with ETFs and Tokenization
・BlackRock executives identified the Bitcoin ETF as their most profitable product line with AUM nearing $100 billion.
・Concurrently, Robinhood launched tokenized stocks on Arbitrum for the EU, and Grayscale is preparing a spot Chainlink ETF.
・HashKey Holdings also passed its HKEX hearing for a Hong Kong IPO, revealing $81.9B in 2024 trading volume.
関連
Macro Volatility: Trump Finalizes Fed Pick While BOJ Signals Hikes
・President Trump confirmed the selection of a new Federal Reserve Chair, with betting markets pricing in a 90% chance of a December rate cut.
・Japan's 2-year bond yields hit 1% as BOJ Governor Ueda signaled continued rate hikes to ensure FX stability.
・Meanwhile, China's manufacturing PMI contracted to 49.9, indicating cooling economic health in the region.
関連
Telegram Founder Launches Decentralized AI Network 'Cocoon' on TON
・Pavel Durov announced the launch of 'Cocoon,' a decentralized AI computing network built on the TON blockchain.
・The project focuses on 100% user privacy and aims to address the high costs associated with traditional AI computing.
・The network has already processed its first requests, signaling a push to integrate AI utility directly into the Telegram ecosystem.
関連
Yearn Finance yETH Pool Exploited for $9 Million
・The yETH pool on Yearn Finance suffered an infinite mint exploit, resulting in a total loss of approximately $9 million.
・Attributed funds were quickly moved to Tornado Cash, coinciding with the broader market's sharp decline.
・Security firms confirmed the vulnerability was isolated to the yETH pool, leaving other vaults unaffected.
関連
CoinShares Pivots to SPAC Merger, Withdrawing US ETF Filings
・CoinShares withdrew its US ETF applications for XRP, Solana, and Litecoin to focus on a new strategic direction.
・The firm plans to list in the US via a $1.2 billion SPAC merger with Vine Hill Capital.
・This move prioritizes high-margin products and global asset management expansion over immediate spot ETF offerings.
関連
Hyperliquid Markets Surge with Whales Betting on HYPE and BTC
・Permissionless markets on Hyperliquid hit $500M daily volume, driven by HIP-3 assets and niche futures products.
・Despite the broader market dip, whales opened significant long positions, including a $20M long on the HYPE token.
・Activity remains concentrated on the platform, supported by open-source tooling and high engagement in diverse asset classes.
関連
Bitmine Accumulates 3% of Total Ethereum Supply
・Bitmine has accelerated its accumulation, now holding 3.63 million ETH, which represents roughly 3% of the total supply.
・The entity purchased nearly 70,000 ETH in a single week and plans to launch a validator network in Q1 2026.
・This strategic positioning targets an estimated $500 million in future staking revenue.
関連
Network Upgrades to Halt Deposits on Major Chains Dec 2-3
・Major networks including Optimism, Arbitrum, and Polygon will suspend deposits and withdrawals on December 2-3.
・The suspension is due to scheduled network upgrades across these ecosystems.
・Users and exchanges are preparing for the temporary downtime to ensure fund safety during the maintenance.