Recommended reading tonight: 1. YZi Labs announces incubation of 17 projects; see which hardcore sectors CZ and He Yi have bet on; 2. Don't worry, Strategy will never sell its Bitcoin holdings; 3. On-chain price discovery;

According to Odaily, Peter Schiff, a senior economist and founder of Euro Pacific Asset Management & Schiff Gold, expressed skepticism about Bitcoin's value. Schiff stated that Bitcoin holds little practical use, despite its ability to facilitate transactions and its intelligent system. He emphasized that the Bitcoin he transfers ultimately serves no purpose.

Key TakeawaysETH pushes back against $3,200, a key resistance levelTreasury demand collapse continues, with DAT purchases down 81% since AugustFalling wedge breakout points toward a potential $4,150 technical target if support holdsImmediate Market Update: ETH Reclaims $3,200ETH now hovers around $3,200, up 17% from its $2,620 local low on Nov. 21. The move helped Ethereum regain the $3,080–$3,200 zone where the 50-week and 100-week SMAs converge. A daily close above this range signals easing selling pressure and reinforces short-term bullish momentum.However, ETH still faces overhead resistance at the 200-period SMA, a level that has capped advances since Oct. 28. This region also aligns with a heavy on-chain cost basis cluster of 5.1 million ETH, according to Glassnode. Market And Industry Context: Treasury Demand WeakensOne of the most notable trends is the collapse in ETH treasury demand. Digital asset treasury (DAT) firms acquired only 370,000 ETH in November, down 81% from the 1.97 million ETH peak in August.Bitwise’s Max Shannon warns that the structural bid for Ether is weakening, noting that shrinking mNAV and limited purchasing power among smaller firms are driving a deeper decline and it is not just a cyclical slowdown.Capriole Investments shows institutional flows turning negative, shifting from a daily buying peak of 121,827 ETH in mid-August to net selling of 5,520 ETH per day now.Despite this broad contraction, a few major players remain active. BitMine, led by strategist Tom Lee, accumulated 679,000 ETH over the past month and is nearly 62% of the way toward its goal of holding 5% of the circulating Ether supply. The firm also retains $882 million in cash reserves for future allocations. On-Chain And Technical Insights: Breakout Targets $4,150Ethereum has broken above the upper boundary of a falling wedge near $3,000, a pattern typically associated with declining selling pressure and a shift toward recovery. A confirmed daily close above this line opens a path toward the wedge target at $4,150, a 36% upside from current levels.ETH also reclaimed the 50% Fibonacci retracement at $3,141 and the 7-day SMA at $3,013, supporting near-term strength. The MACD histogram has flipped positive for the first time since Nov. 22, reinforcing improving momentum.Still, RSI sits near 52, leaving room for consolidation before ETH can challenge higher resistance around $3,413, the 23.6% Fib level.The 20-day EMA at $3,100 remains crucial. A sustained position above this indicator would suggest that selling pressure continues to ease. Outlook: Key Levels To WatchEthereum’s immediate focus is maintaining support above $3,100–$3,200, which would validate the wedge breakout and stabilize confidence. Failure to hold could expose ETH to a retest of $2,847, a critical Fibonacci level.On the upside, clearing resistance toward $3,500, the region aligned with the 50-day SMA, would strengthen the broader recovery structure.Network fundamentals also hinge on the Fusaka upgrade, activated Dec. 3. If the upgrade successfully reduces Layer-2 costs over the coming weeks, it may provide a catalyst for renewed institutional interest and on-chain activity.

연방준비제도의 양적 긴축 종료와 뱅가드의 암호화폐 상품 출시에 힘입어 비트코인이 9만 3,000달러를 돌파했습니다. source: https://ko.spaziocrypto.com/biteukoin/biteukoin-bandeung-yeonjun-hyogwa-baenggadeu-etf/

Sam Altman, the head of OpenAI, reportedly held talks about buying into or teaming up with a rocket company, putting him on a path to go head-to-head with Elon Musk’s SpaceX. So what exactly did Altman propose to the rocket company? Altman contacted at least one rocket builder, Stoke Space, during the summer months, with […] source: https://www.cryptopolitan.com/sam-altman-challenge-musk-space-dominance/

SkyBridge Capital founder and managing partner Anthony Scaramucci believes Solana has positioned itself as one of the strongest contenders for large-scale institutional blockchain adoption. Speaking on CNBC’s Squawk Box on December 3, Scaramucci discussed the rise of Solana, how it fits within a diversified crypto portfolio and why major financial firms may eventually build on it. The SkyBridge Capital founder highlighted that Solana, along with Bitcoin and Avalanche, is emerging as a leader among public blockchains. He argued that the industry has reached a level of maturity in which three or four dominant players will become clear within the next five years source: https://finbold.com/solana-could-play-a-role-in-blackrocks-tokenization-strategy-says-anthony-scaramucci/

Bitcoin’s market structure has entered a new phase as US spot exchange-traded funds now account for more than 5% of cumulative net inflows into the asset. According to Glassnode, the 12 funds have allowed institutions to become a marginal source of demand for the world’s largest digital asset. source: https://cryptoslate.com/bitcoin-etf-market-structure-shift-institutional-flows/

Why is the competition among Perp DEXs essentially a competition of "risk models"?

A US judge has ordered OpenAI to hand over 20 million anonymised ChatGPT conversation logs to several news organisations as part of a copyright lawsuit. The case examines whether the AI reproduced copyrighted articles without permission, despite OpenAI’s concerns over user privacy.

USDT, stablecoin, and the strong counterattack of the RMB: Stablecoins have become "risky assets." Golden Finance reports that in the past six months, the RMB has quietly completed a "comeback."

The trading system is idle for 73% of the remaining time from Monday to Friday. How can we solve this problem?

A 21-year-old Ukrainian student in Vienna was tortured and set on fire after attackers forced him to give passwords to his cryptocurrency wallets, which they emptied before his death. Two suspects fled to Ukraine with the stolen crypto and were arrested three days later, highlighting the rising risk of violent attacks on crypto holders.

Overall, the attitude of mainland judiciary and regulators toward virtual assets is gradually shifting from "complete rejection" to "classification and differentiated treatment," while the cross-border regulatory landscape is also being rapidly reshaped.

On December 1, 2025, the long-established decentralized yield aggregation protocol Yearn was attacked, resulting in a loss of approximately $9 million.

The Venezuelan traveler's checks market from 1983 to 1996 serves as a powerful yet poorly studied historical case study for simulating stablecoins. It demonstrates that under financial repression, markets will invariably construct parallel price discovery mechanisms.

A flaw in a MediaTek chip used in many Android phones lets attackers take full control of the device, and it cannot be fixed because it sits in the chip’s hardware. Ledger says this makes storing crypto keys on affected phones unsafe, as the weakness allows attackers to bypass security during startup.