Crypto

The total crypto market cap dipped below $3 trillion today again.

Prediction markets Polymarket and Kalshi surge for the pro-crypto candidate as Trump’s likely Fed chair pick, just as internal Fed reforms spark pushback from veterans. Prediction markets Polymarket and Kalshi view Kevin Hassett, US President Donald Trump’s National Economic Council director, as the favorite to replace Jerome Powell as the next Federal Reserve chair. The odds of Hassett filling the seat have spiked to 66% on Polymarket and 74% on Kalshi at the time of writing. Hassett is widely viewed as crypto‑friendly thanks to his past role on Coinbase’s advisory council, a disclosed seven‑figure stake in the exchange and his leadership of the White House digital asset working group.​ Founder and CEO of Wyoming-based Custodia Bank, and a prominent advocate for crypto-friendly regulations, Caitlin Long, commented on X: Read more

PeckShield says hackers minted unlimited yETH, drained a custom stETH/rETH pool, and laundered over $3 million in ETH through Tornado Cash.

Bitcoin price erased recent gains, shedding nearly 5% to below $87,000 in early Asian trading hours on Dec. 1. This came as a surge in Japanese government bond yields triggered a broad risk-off sentiment, shattering a fragile, low-volume market structure. According to CryptoSlate data, BTC fell from a consolidation range near $91,000, wiping out approximately […] The post $150B wiped: Bitcoin drops below $87k on Japan yield shock appeared first on CryptoSlate.

Crypto ETPs rebound with $1.07 billion inflows after four weeks of losses, while XRP hits record weekly gains amid US ETF launches. Cryptocurrency investment products snapped a four-week losing streak, drawing about $1 billion in fresh money after four consecutive weeks of losses totaling $5.5 billion. Crypto exchange-traded products (ETPs) recorded $1.07 billion of inflows last week, their first week of gains since late October, according to the European crypto asset manager CoinShares. James Butterfill, CoinShares’ head of research, attributed the rebound to optimism over a potential US interest rate cut, following remarks from Federal Open Market Committee (FOMC) member John Williams. Read more

A weekend crypto crash triggered $524M in liquidations, with fears over Tether's stability and DAT selling pressure acting as key catalysts.

HKEX published a post-hearing information pack for HashKey Holdings, pushing Hong Kong’s top crypto exchange closer to a high-profile IPO. HashKey Holdings, the parent company of one of Hong Kong’s biggest licensed crypto exchanges, moved a step closer to a public listing, according to new filings from the Hong Kong Stock Exchange (HKEX). On Monday, the HKEX published a 633-page post-hearing information pack for HashKey Holdings. The document was published at the request of The Stock Exchange of Hong Kong Limited and the local financial regulator, the Securities and Futures Commission (SFC). A post-hearing information pack is only published after HKEX’s listing committee formally clears an applicant at the listing hearing. In other words, without explicitly stating it, this document indicates that HashKey has moved closer to listing on the exchange and is progressing toward its initial public offering (IPO). Read more

Bitcoin falls below $86K after $93K rejection. Analysts debate whether a $100K rally is still possible or if a deeper bear trend has begun.

Bitcoin gained fresh BTC price crash predictions as it fell to $85,000 in flash volatility at the monthly close amid a lack of liquidity. Bitcoin (BTC) threatens a fresh crash as December begins with a snap 5% BTC price drawdown. Bitcoin price volatility hits around the November monthly close, with BTC/USD falling to near $85,000. Analysis blames a lack of market liquidity, while history warns that bearishness may continue in December. Read more

As crypto taxes become unavoidable, understanding what counts as a deductible expense can make a meaningful difference this tax season.

Sony Bank is reportedly pursuing a US license and partnering with Bastion as it develops a 2026 dollar stablecoin connected to its growing Web3 unit, BlockBloom. Sony Bank, the online lending subsidiary of Sony Financial Group, is reportedly preparing to launch a stablecoin that will enable payments across the Sony ecosystem in the US. Sony is planning to issue a US dollar-pegged stablecoin in 2026 and expects it to be used for purchases of PlayStation games, subscriptions and anime content, Nikkei reported on Monday. Targeting US customers — who make up roughly 30% of Sony Group’s external sales — the stablecoin is expected to work alongside existing payment options such as credit cards, helping reduce fees paid to card networks, the report said. Read more

Bitcoin opened the week in the red as fears of a Bank of Japan rate hike triggered a yen carry trade unwind, potentially risking a drop in BTC price to $67,000. Bitcoin (BTC) experienced a sharp pullback in early Asian trading on Monday, dropping to $85,500 amid increasing expectations of a December rate hike by the Bank of Japan (BOJ). Key takeaways: Bitcoin dropped 5% to almost $85,000 in a marketwide correction, liquidating $656 million in longs. Read more

As AI demand accelerates, the world’s compute supply chain is straining under old assumptions. Andrew Sobko argues that the next era won’t be built in data centers alone—but in globally distributed, human-aligned networks.

Is it another 'sell-the-news' type of day?

The backlog of United States economic data is still rolling out this week as crypto markets start the month in the red following another big Bitcoin crash. 

Bitcoin's price lost almost $6K in a couple of hours as broader crypto markets sell off.

Japan’s 10-year bond yields surged to 1.86%, the highest since 2008, threatening to unwind the yen carry trade that funneled trillions into risk assets. Japanese government bond yields have jumped to their highest level in decades, prompting some analysts to speculate that it could be behind the recent crypto market sell-off on Sunday.  Japan’s 10-year government bond yield hit 1.86% on Monday, its highest level since April 2008, according to MarketWatch.  Yields in the 10-year bonds have almost doubled in Japan over the past 12 months. Japan’s two-year bond yields also hit 1% for the first time since 2008.  Read more

Major cryptocurrencies traded lower in early Asia as DeFi platform Yearn noted at "incident" in its yETH pool.

Binance, HashKey, KuCoin, Bitget, and TRON together committed millions to assist victims and rebuild communities

NYDIG’s research head questions how mNAV is used to assess bitcoin treasuries, arguing it masks key risks tied to capital structure and equity dilution.