MicroStrategy announced the establishment of a $1.44 billion reserve fund to pay for preferred stock dividends and debt interest over the next 12 to 24 months, drawing widespread market attention and bearish expectations. On-chain analytics firm CryptoQuant noted that this move shows MicroStrategy is preparing in advance to cope with a potential Bitcoin bear market. If the bearish trend continues, Bitcoin prices may fluctuate between $55,000 and $70,000 next year.

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Pi Network experienced three consecutive declines on Friday, approaching the local support trendline formed by connecting the lows of October 22 and November 4. Technically, the MACD indicator's moving averages continue to decline toward the zero axis, and if they cross into negative territory, it will strengthen the downward momentum. If Pi Network breaks below the trendline near the December 1 low of $0.2204, it could further test the support level at $0.1919.

The Connecticut state government has issued cease and desist orders to prediction market operators Robinhood and Kalshi, accusing these platforms of illegally operating online gambling businesses in the state and demanding an immediate halt to the offering of sports event contracts. Robinhood quickly responded, citing the federal regulatory agency CFTC as a "shield," emphasizing that its event contracts are strictly regulated at the federal level and that it operates legitimate derivative financial products rather than gambling.

The latest sentiment index from cryptocurrency analytics firm Santiment shows that XRP is slipping into panic territory, with the number of bearish comments rising sharply and overwhelming bullish opinions. On Friday, XRP traded near $2, and after a roughly 31% decline over two months, social discussions around the token have turned sharply negative. Santiment noted that a similar opportunity to two weeks ago seems to be emerging, with the extremely pessimistic sentiment potentially fueling a short squeeze.

Financial Supervisory Commission Chairman Peng Jinlong revealed on December 3 that the Taiwan version of stablecoins is expected to be launched as early as the second half of 2026. The FSC has confirmed that banks will take the lead in issuing stablecoins. Currently, the draft "Virtual Asset Service Act" has entered the final stage of review by the Executive Yuan. If the three readings process is successfully completed, the FSC will finalize eight sub-laws, including the "Regulations on the Issuance and Management of Stablecoins," within six months.

Within less than a month of its launch, the US spot XRP ETF has rapidly approached $1 billion in assets under management (AUM), with cumulative net inflows reaching $881.25 million and no single-day outflows recorded, making it one of the fastest-growing crypto investment products. However, in stark contrast to the robust institutional inflows, the market price of XRP continues to face downward pressure, currently trading near $2.09, down approximately 31% over the past two months. According to market analytics platform Santiment, social sentiment surrounding XRP has sharply turned negative, entering the "fear zone." This is similar to the scenario at the end of November when sentiment hit bottom and then rebounded by 22%, suggesting the market may be approaching a sentiment-driven turning point.

Blockchain analytics firm Glassnode warned in its latest report that for Bitcoin to avoid year-end downside risk, the price must return to and remain in the $96,100 to $106,000 range. Data shows that more than 25% of Bitcoin supply is currently at a loss, and the market is facing higher-than-usual potential selling pressure. The derivatives market is displaying risk-averse sentiment, with futures open interest declining, funding rates resetting to neutral, and options implied volatility compressing.

The Ethereum-based decentralized cryptocurrency exchange Lighter is about to launch spot trading. The platform will first open ETH transfer services on Thursday and plans to expand to more markets in the coming days. Lighter’s trading volume reached $292.5 billion in November, making it the most active cryptocurrency trading protocol that month, surpassing Hyperliquid’s $308.5 billion.

MrBeast (real name Jimmy Donaldson), the world's most-subscribed YouTube superstar, is expanding his vast business empire into the heart of fintech. The CEO of his holding company, Beast Industries, recently confirmed the launch of a financial services platform called "MrBeast Financial" and a mobile phone company called Beast Mobile. According to trademark application documents that have surfaced, the financial platform's scope of business clearly includes "cryptocurrency exchange" services. With revenues exceeding $400 million last year, Beast Industries is no longer satisfied with just content and consumer products, and is now seeking to leverage its massive influence over Gen Z to become a gateway to next-generation financial and digital asset services.

Token reserve company AlphaTON Capital Corp, listed on Nasdaq, has filed a $420.69 million shelf registration application. The funds will be used to expand AI and high-performance computing infrastructure to support Telegram's Cocoon AI network and to drive the acquisition of revenue-generating companies within the ecosystem. The company has already deployed Nvidia B200 GPUs to Cocoon, bringing in new revenue for its business.

Central banks around the world are stockpiling gold at an unprecedented pace, with net purchases reaching 53 tons in October 2025 alone—a new annual high. Poland, Brazil, and other countries are the main buyers. Meanwhile, Bitcoin is transitioning from a fringe asset to the national reserve stage: the United States, under executive order, has designated approximately 200,000 Bitcoins (worth about $17 billion) as a strategic national reserve asset; Texas has taken the lead by purchasing $10 million worth of Bitcoin as part of its state treasury reserves. This trend of reserve diversification, extending from traditional gold to digital gold, may be reshaping the global financial power structure for the coming decades.

XRP fell back after failing to break through $2.2, but the US XRP ETF market recorded a net inflow of $50.27 million on December 3, marking 13 consecutive trading days of net capital inflows. Since its inception, the cumulative net inflow has reached $874 million. The divergence in capital flow direction between XRP and Bitcoin ETFs has intensified speculation about decoupling. Holding the psychological support level of $2.0 will pave the way for the mid-term target of $3.0.

Digital Asset Holdings LLC, a blockchain company focused on the financial sector, has raised an additional $50 million in funding. Digital Asset’s public blockchain, the Canton Network, processes financial transactions and allows users to decide what information remains confidential. In August this year, several Wall Street banks and trading firms used the network to trade U.S. Treasuries with digital dollars on a Saturday, enabling 24/7 trading.

In November 2025, the Bitcoin mining industry faced a historic profitability crisis. The network-wide hashprice fell below $35 per petahash, while production costs rose to $44.8, resulting in an average miner payback period exceeding 1,200 days. In this life-or-death moment, the industry underwent dramatic changes: 70% of leading publicly listed mining companies began generating revenue from artificial intelligence infrastructure, raising over $6.6 billion in funding and signing GPU procurement contracts worth $15.5 billion. Meanwhile, miners led by Marathon Digital (MARA) were accumulating Bitcoin against the trend, with holdings valued at $5.6 billion. This signals Bitcoin mining’s transformation from a single-purpose energy consumer into a comprehensive high-performance computing service provider.

On the main stage of Binance Blockchain Week 2025, a long-anticipated clash of ideas unfolded as scheduled. CZ and renowned economist and gold bull Peter Schiff engaged in a direct debate on the topic: “Bitcoin vs. Tokenized Gold—which is the better sound money?” CZ defended Bitcoin from the angles of verifiability, digital native utility, and provable scarcity, while Schiff argued that gold’s physical value and historical trust are irreplaceable, with tokenization merely representing its evolutionary form. This debate went far beyond a mere exchange of personal views; it profoundly revealed the core contradiction between traditional stores of value and digital native assets as they vie for influence over the future of finance, and provided investors with a clear framework to understand the fundamental differences between the two asset classes.

The Pi Network core team has issued an announcement stating that the project will become a key driving force in the next phase of Web3, emphasizing that its mobile-first design will enable millions of new users to integrate into the digital economy faster than with traditional blockchains. However, the plan to unlock 190 million Pi tokens in December 2025 remains a hot topic within the community, with users debating whether the unlock will stimulate liquidity growth or further depress the price.

On December 4, XRP pulled back more than 4.5% after failing to break through the $2.20 resistance, closing at $2.097 and falling below the key 50-day and 200-day moving averages. However, there are positive signals from the fundamentals: the US spot XRP ETF has seen net inflows for 13 consecutive trading days, with the cumulative total approaching $900 million. Market analysis platform Santiment pointed out that current FUD (fear, uncertainty, doubt) sentiment around XRP has reached its highest level since October, similar to the situation after November 21, when a 22% rebound followed. Although the short-term technical outlook is weak, strong ETF demand and the potential “decoupling from Bitcoin” narrative are laying a bullish foundation for XRP in the mid to long term.

CZ has officially announced that Predict.Fun, a prediction market platform incubated by YZi Labs under his leadership, is about to launch on BNB Chain. The platform’s biggest innovation lies in the fact that users' staked funds for predictions will no longer remain idle, but will continuously generate returns through integrated DeFi strategies. Its founder is none other than former Binance employee dingaling, who had previously fallen out publicly with CZ over the “rat trading” incident. This collaboration marks a temporary “reconciliation” between the two based on shared business interests, with the aim of seizing the prediction market opportunity and making BNB Chain the core infrastructure for global prediction markets.

After the $19 billion cryptocurrency liquidation event in October 2025, there was a severe outflow of funds from cryptocurrency ETFs. As of November 21, the net asset value of Bitcoin ETFs shrank from $164.5 billion to $110.1 billion, with the total net asset value of cryptocurrency ETFs evaporating by about $68 billion. BlackRock's annualized fee income from Bitcoin and Ethereum ETFs dropped by 28% and 38%, respectively.