高盛固定收益、外汇及大宗商品（FICC）部门分析师认为，美联储在即将到来的 12 月会议上降息已基本成为定局。分析师指出，基于劳动力市场的疲软趋势和风险管理需求，此时降息是正确的政策选择，而市场定价也已充分反映了这一预期。高盛分析师指出，鉴于在此次会议前的数据日历较为稀疏，且市场预期高度一致，降息已被“锁定”。考虑到劳动力市场的轨迹，美联储在 12 月降息，随后在 1 月（即实际上再观察三份非农就业报告后）进行重新评估，是良好的风险管理策略。（华尔街见闻）

1.数据：12月底约150万枚ETH将退出质押；2.Vitalik：希望Zcash能够抵制代币投票势力的影响；3.Upbit拟于12月1日开始分阶段恢复存取款功能；4.币安：持有至少245个Alpha积分的用户可申领500个SQD代币空投；5.数据：过去一周鲸鱼出售超5万枚BTC，价值约46亿美元；6.纳斯达克上市公司Prenetics披露比特币总持有量增至504枚；7.天风证券遭证监会立案，子公司已在香港获批可提供虚拟资产交易服务；8.Vitalik：Meme正在重塑英语，英文互联网已开始形成自己的“成语体系”；9.JAN3 CEO：Dolphin Cards已暂停使用，用户资金安全且会对测试用户退款；10.HyperLiquid联创：未进行外部融资，因此不存在投资人HYPE代币解锁；11.Arthur Hayes：已建议Maelstrom投资项目尽快释放全部代币，但暂未被采纳；12.贝莱德：IBIT本月流出23.4亿美元属正常调整，仍看好现货ETF长期增长；13.某交易员MON多单遭完全清算，亏损190万美元；14.分析：BTC价格回升或将在明年Q1，当前走势与2022年熊市相似度极高；15.麻吉大哥新开10倍杠杆ZEC多单，整体仓位市值现已突破3000万美元。

The total market cap is close to $3. 2 trillion again. source: https://cryptopotato.com/these-are-this-weeks-top-performers-as-bitcoin-settles-at-91k-weekend-watch/

According to ChainCatcher, a report by Galaxy Digital reveals that in the third quarter of this year, seven major transactions raised over $2.26 billion, accounting for 48.7% of the total venture capital investments in cryptocurrency and blockchain-related companies during the same period. During this time, venture capital firms invested $4.65 billion across 415 deals in startups and private companies focused on cryptocurrency, marking a 290% increase from the previous quarter. However, this figure remains below the levels seen in 2021-2022. The growth was primarily driven by later-stage companies, indicating that capital continues to concentrate on more mature companies rather than early-stage startups. Despite improving market sentiment and increased investment activity, Galaxy Digital suggests that the "golden age of pre-seed cryptocurrency venture capital" has passed.

According to BlockBeats, data from Coinglass reveals that current funding rates on major centralized and decentralized exchanges indicate a persistent bearish sentiment in the market. The funding rates for mainstream cryptocurrencies are detailed in the accompanying chart. Funding rates are fees set by cryptocurrency trading platforms to maintain balance between contract prices and the prices of underlying assets, typically applied to perpetual contracts. This mechanism facilitates the exchange of funds between long and short traders, without the trading platform charging this fee. It serves to adjust the cost or profit of holding contracts, ensuring that contract prices remain close to the asset prices. A funding rate of 0.01% signifies a baseline rate. When the funding rate exceeds 0.01%, it indicates a general bullish market sentiment. Conversely, a funding rate below 0.005% suggests a prevailing bearish sentiment in the market.

According to ChainCatcher, Fidelity's Ethereum-based tokenized U.S. Treasury fund has experienced a 15% growth over the past month, with its scale surpassing $250 million. Reports indicate that 2025 is anticipated to be the year for Real World Assets (RWA), as the total on-chain value of RWA has now exceeded $36 billion, more than doubling since the beginning of this year. The market is composed of tokenized U.S. Treasuries, bonds, and private credit. Private credit accounts for more than half of the industry's market value, reaching $18.7 billion. In terms of the tokenization of these assets, Ethereum plays a dominant role, holding $11.6 billion worth of risk-weighted assets (RWA), which constitutes over 63.7% of the industry's total.

null source: https://x.com/cryptoquant_com/status/1995088757087961135

基于 Proof-of-Behavior（PoB）的 OracleX 宣布将于 12 月 1 日上线。OracleX 表示，Polymarket 月创 35,000 个市场但其长尾市场交易稀少，Kalshi 65%份额依靠体育单一品类，而 OracleX 旨在解决这一问题。其核心机制将预测行为与质押挖矿绑定：提出行为贡献证明模型，用户质押 OEX 铸造 USDX 参与预测，收益率动态调整（准确率/频次/流水加权），让“认真预测”有利可图，将流动性提供与信息贡献合二为一。

null source: https://x.com/DaanCrypto/status/1995088281881788921

null source: https://x.com/cryptoquant_com/status/1995088216018559066

“我们的核心诉求非常明确—— 物归原主，也就是归还中国受害者。”

11月29日，中国人民银行官方发布文章《打击虚拟货币交易炒作工作协调机制会议召开》，对于虚拟货币及稳定币进行了最新论述。

稳定币,监管,法律,稳定币的 2025：你在红楼 我在西游 金色财经,谁在红楼，谁在西游？想来我们心中或似都有答案。

2025 年 12 月 3 日，以太坊将在主网激活“Fusaka”升级，这是继 5 月的“Pectra”升级之后，今年第二次重大硬分叉。

2025 年 11 月 28 日，中国人民银行召开打击虚拟货币交易炒作工作协调机制会议。

Vitalik 往年着重在探讨技术，今年则转向探讨以太坊"存在价值"，反映以太坊正在从基础建设阶段转向定位其在链上的影响力。

2025 年，AB 慈善基金会持续加大对东帝汶的支持力度，从教育与基础民生两条主线同步发力，围绕当地青年和困境儿童，推出具有延续性与互补性的公益项目，推动当地社会的可持续发展。

Taken together, these two initiatives in Timor-Leste amount to a total of USD 1,191,412 in support. By combining scholarships with in-kind assistance, the Foundation is addressing both “present-day necessities” and “future opportunities,” demonstrating its global, long-term commitment to its mission of “Technology for Good, Empowering the Future.”

金色周刊是金色财经推出的一档每周区块链行业总结栏目，内容涵盖一周重点新闻、行情与合约数据、矿业信息、项目动态、技术进展等行业动态。

你可以理解为：如果你在TGE时买入且未在最高点抛售，你的盈亏情况与同级其他代币相比如何？