Odaily News DAT provides investors with exposure to underlying digital assets by packaging crypto assets in securities regulated by the SEC, aiming to outperform the performance of the underlying assets through a strategy that maximizes returns. A key metric for measuring the performance of DATs is the market net asset value (mNAV), which compares the company's enterprise value to its digital asset holdings. Investment bank Macquarie points out that the viability of DAT is closely related to the equity premium relative to net asset value. If this premium erodes or turns into a discount, the model will face significant challenges. When the crypto market experiences a pullback, mNAV may fall below 1, indicating that the company's trading price is below the value of its crypto asset holdings, which may force DATs to sell some tokens to obtain liquidity. Sussex University finance professor Carol A

ChainCatcher news, in the past 24 hours, the net outflow ranking of Spot funds in encryption is as follows: ETH net outflow of 126 million USD; XRP net outflow of 116 million USD; ZEC net outflow of 18.2 million USD; COMP net outflow of 11.26 million USD; DOGE net outflow of 10.9 million USD. The net inflow ranking of Spot funds in encryption is as follows: BTC net inflow of 21 million USD; USDE net inflow of 5.26 million USD; TRX net inflow of 5.21 million USD; AAVE net inflow of 3.28 million USD.

On December 1st, the U.S. Spot Solana ETF experienced the largest capital outflow in history, while the Spot XRP ETF recorded a net inflow of 90 million USD. The main redemptions from the Solana ETF came from the 21Shares Solana ETF (TSOL), with a single-day net outflow of 32.54 million USD, bringing the cumulative net outflow for TSOL since its launch to 60.14 million USD. Despite the outflows, the Bitwise Solana Staking ETF (BSOL) and Grayscale Solana ETF still maintained capital inflows, with the Solana ETF's managed assets still exceeding 790 million USD. The SOL price rebounded over 3% after the capital outflow, currently trading at 127.53 USD.

Odaily News Cango (NYSE: CANG) announced its unaudited financial report for the third quarter of 2025, with quarterly revenue reaching 224.6 million USD, a rise of 60.6% quarter-over-quarter, of which the Bitcoin mining business contributed 220.9 million USD. The company recorded an operating profit of 43.5 million USD, a net profit of 37.3 million USD, and an adjusted EBITDA of 80.1 million USD. The average computing power in the third quarter rose from 40.91 EH/s in July to 44.85 EH/s in September, and further increased to 46.09 EH/s in October; a total of 1930.8 coins were mined in the quarter.

Gate News Bot news, December 02, according to CoinMarketCap data, as of the time of writing, UAI (UnifAI Network) is currently priced at $0.15, with a rise of 22.94% in the last 24 hours, reaching a high of $0.16 and a low of $0.11. The current market capitalization is approximately $34.8 million, an increase of $6.5 million compared to yesterday. UnifAI Network is an AI-native infrastructure platform dedicated to supporting the agent financial era. The platform allows everyone to easily create, share, replicate, and automate their strategies. UnifAI Network provides end-to-end infrastructure, including agent runtime, AI evaluation system, and unified tool integration to support the development of autonomous DeFi. Important news about UAI recently: 1️⃣ **UnifAI Net

Golden Finance reported that Bitcoin treasury company Strategy has updated its profit expectations for the fiscal year 2025, estimating that if the Bitcoin price is between $85,000 and $110,000, the operating revenue for the fiscal year 2025 will be between $7 billion and $9.5 billion, with a net income of between $5.5 billion and $6.3 billion, and earnings per share of between $17.0 and $19.0.

In November, Bitcoin spot ETF experienced the most severe monthly outflow of funds since the beginning of the year, with a total net outflow of $3.48 billion. According to SoSoValue data, from November 12 to 18, the ETF saw fund withdrawals for five consecutive weeks, with the largest single-day outflow occurring on November 20, reaching $903 million. At the end of the month, the market warmed up, with three consecutive days of net inflow, partly due to Nasdaq ISE submitting an application to quadruple the options trading capacity linked to BlackRock iShares Bitcoin Trust (IBIT).

The crypto assets market experienced its worst falling trend since February at the close of November. The volume on centralized exchanges (CEX) plummeted to $1.59 trillion, a 26.7% month-on-month decline, while Bitcoin ETF recorded a net outflow of $3.48 billion in a single month - the worst performance since February. The price of Bitcoin fell below $86,000 on Monday, plunging 6% during the Asian session, with a cumulative decline of 32% from the October high, triggering over $600 million in liquidations. BTC ($188.5 million) and ETH ($139.6 million) bulls were the hardest hit, and market panic spread.

Odaily News In response to Arthur Hayes' doubts about USDT operations, former Citibank encryption research head Joseph stated on the X platform that @CryptoHayes' analysis missed several key points: 1. Disclosure of assets ≠ all corporate assets. USDT adopts a "matching principle" for disclosing reserves, but its undisclosed balance sheet includes equity investment income, mining operations, corporate reserves, and potential Bitcoin holdings, with remaining profits distributed to shareholders in the form of dividends. 2. Extremely high profit margins and equity value. Tether holds $120 billion in U.S. Treasury bonds (annualized 4% yield), with a projected annual net profit of about $10 billion from 2023 (with only 150 employees), making it arguably the world's most efficient money printer; equity valuation may reach $50-100 billion.

The US spot Bitcoin ETF saw a significant outflow of funds in November, with a net outflow of $3.48 billion in a single month, marking the largest monthly outflow since February this year. According to SoSoValue data, the Bitcoin ETF has recorded net outflows for four consecutive weeks starting from the week of October 31, with a cumulative outflow exceeding $4.34 billion, but it briefly experienced three days of net inflow before the Thanksgiving holiday. BlackRock's IBIT, as the largest Bitcoin ETF, saw a net outflow of $2.34 billion in November, recording its largest single-day outflow since inception on November 18, amounting to $523 million. LVRG director Nick Lark pointed out that this round of capital outflow mainly stems from institutions taking profits after Bitcoin reached historical highs and year-end asset rebalancing, rather than a decline in confidence in Bitcoin's fundamentals. He emphasized that the cumulative inflow of Bitcoin ETFs remains positive, while open interest in futures continues to rise, indicating that institutional structural long positions remain solid, although valuation sensitivity has clearly increased amid macroeconomic uncertainties.

PANews, December 1st, according to SoSoValue data, as of the week ending November 28, Bitcoin, Ethereum, and Solana spot ETFs have all shifted from net outflows to net inflows, recording net inflows of $70.05 million, $313 million, and $108 million respectively. ETFs under Fidelity have been the market makers among the three product categories, while BlackRock's ETHA and BSOL also performed well.

Odaily News Strategy CEO Phong Le stated in a recent interview that the company will only consider selling Bitcoin when its stock price falls below net asset value and it is unable to secure new funding. However, he emphasized that this is not a shift in its long-term policy or an active dumping plan, but rather a "financial decision" that is made only in extreme market conditions and when the capital environment deteriorates. Strategy has launched a new "BTC Credit" dashboard this month in response to recent market concerns about its liabilities and liquidity. The company claims that even if Bitcoin prices remain depressed over the long term, its debt structure and cash flow coverage remain robust. (Cointelegraph)

BlockBeats news, on November 30, BlackRock's Bitcoin Spot ETF IBIT saw a net outflow of 2.34 billion dollars in November, with a net outflow of approximately 463 million dollars on November 14 and about 523 million dollars on November 18, both of which refreshed the previous single-day outflow record. Cristiano Castro, the business development director, stated that the 2.34 billion dollars outflow is a normal phenomenon, and BlackRock remains confident in its long-term prospects. The Bitcoin Spot ETF has become one of BlackRock's most important sources of income, and its rise is "surprising," with the outflow in November solely due to previously strong demand. Cristiano Castro told reporters: "The Spot ETF is a very liquid and powerful tool, and its existence is

According to Golden Finance and The Information, Morgan Stanley stated that Oracle's corporate borrowing and data center leasing will more than double its net adjusted debt in the fiscal year 2028, reaching approximately $290 billion, compared to about $100 billion currently.

Goldman Sachs reported that the S&P 500 index may remain flat in November, but as market volatility drops and the breadth of the stock market improves, the market outlook becomes clearer. Indicators show that the market tends to stabilize entering December, with broader participation expected and a net buying anticipated, with a scale of about $4.7 billion.

According to BlockBeats news on November 29, HyperInsight monitored that "Maji" has launched a swing trading mode, conducting high-frequency operations tonight, buying low and selling high on Ethereum and HYPE long orders. The overall strategy remains focused on net accumulation. As of the time of reporting, the amount of ETH long order holdings has increased to 23.92 million USD, and HYPE long orders have been increased to 7.09 million USD. The unrealized gains from this round of operations have reached 535,000 USD.

According to Gate News bot, as per the official announcement on November 28, 2025, the Gate quantitative fund has launched the "Yield Pioneer - BTC" strategy product and opened subscriptions. This product focuses on enhancing BTC ecosystem returns, employing a multi-strategy combination approach to capture market-neutral opportunities and volatility premiums. The total subscription limit for the product is 500 BTC, with individual investment limits ranging from 0.1 to 10 BTC. It has been running for 947 days, and the annualized return over the past year is 2.18%. This quantitative fund product is open to VIP5-14 level users and aims to provide high-net-worth users with Bitcoin asset allocation options. The product adopts a neutral arbitrage strategy, primarily obtaining market returns through quantitative trading methods.

ChainCatcher news, according to SoSoValue data, the US LTC Spot ETF has maintained a daily net inflow of 0 funds for 7 consecutive trading days, with the current total net assets of this ETF being approximately 7.42 million USD, accounting for 0.11% of the LTC market capitalization. In terms of price, Litecoin (LTC) price since October 28 Canary LTC Spot

PANews, November 27 news, the Ethereum treasury protocol ETH Strategy announced that it will launch a two-month linear unlocking plan on November 29, 2025, involving the distribution of STRAT tokens to early supporters "PreSaylors". To address potential market selling pressure, the project party plans to use treasury ETH to repurchase and destroy STRAT when the STRAT price is below its net asset value (NAV), thereby reducing circulating supply and strengthening the economic model. In addition, the ETH Strategy will launch a treasury lending product two weeks after unlocking, allowing STRAT holders to borrow treasury ETH at a slight discount to NAV while retaining the potential for token appreciation. The project also offers a limited-time option for one week, allowing PreSaylors to redeem 80% of their initial ETH commitment by destroying NFTs. It is reported that ETH Strategy previously communicated

In the past 24 hours, the net inflow of funds in the crypto market has mainly concentrated on projects like BTC and BNB, with a net inflow of $473 million for BTC, while ETH and others experienced a net outflow of $33.22 million.

ChainCatcher news, according to SoSoValue data, the total net inflow of XRP Spot ETF is $21,810,000. The XRP Spot ETF with the highest daily net inflow is Bitwise XRP ETF, with a daily net inflow of $7,460,000, and the historical total net inflow of XRP has reached $163,000,000. Next is Canary XRP ETF, with a daily net inflow of $5,210,000, and the historical total net inflow has reached $335,000,000. As of the time of writing, the total asset net value of XRP Spot ETF is $676,000,000, with an XRP net asset ratio of 0.5%, and the historical cumulative net inflow has reached $644,000,000.

ChainCatcher message, QCP's analysis states that BTC is currently stable at a high level of 90,000 USD, with market risk sentiment improving and the expectation of a rate cut in December rising to 85%. However, macro signals remain complex, inflation is still high, and labor data is weak. Warning signals have appeared in the AI credit sector, with credit default swaps (CDS) widening, raising concerns about rising accounts receivable and inventory at Nvidia. The capital flow in cryptocurrency shows a similar trend: ETFs continue to see outflows, and most products are trading below their net asset value. MicroStrategy's strategy is under scrutiny again, as its BTC holdings approach breakeven, and its stocks have been added to the MSCI delisting watch list. The options market shows cautious sentiment, the correlation between Bitcoin and AI stocks has increased, and the fear and greed index has decreased. Technically, Bitcoin is around 95,000 USD.

Amber International announced its third quarter performance for 2025, with revenue reaching $16.3 million, a year-on-year increase of 1,934.6%; gross profit was $11.8 million, with a gross margin of 72.3%; net profit was $2.15 million. The company also launched a $50 million stock buyback program.

The Nasdaq-listed Bitcoin mining company CleanSpark released its financial report for 2025, with total revenue of $766.3 million and a net profit of $364.5 million, representing a rise of 102.2% compared to last year. The company holds approximately 13,011 Bitcoins, with a market capitalization of about $1.2 billion, and possesses $43 million in cash and mining assets valued at $950 million.

Bitcoin miner CleanSpark announced its fiscal year results for the period ending September 30, 2025, achieving revenue of $766.3 million, a year-on-year rise of 102%, and a net profit of $364.5 million, compared to a net loss of $145.8 million in the same period last year. Adjusted EBITDA increased from $245.8 million to $823.4 million, indicating a significant improvement in the company's operating leverage. CEO Matt Schultz stated that the fiscal year 2025 marks a breakthrough in CleanSpark's operational capabilities and financial performance, with the company's operational hash rate exceeding 50 EH/s and setting a new revenue record. The company has secured capital support for business expansion through convertible bonds and Bitcoin collateralized revolving credit financing, rather than traditional ATM programs.

CleanSpark announced its fiscal year 2025 performance, with revenue reaching $766.3 million, a year-on-year rise of 102.2%. Net profit was $364.5 million, with earnings per share of $1.25. Adjusted EBITDA increased to $823.4 million, holding Bitcoin with a market capitalization of $1.2 billion, and total assets reaching $3.2 billion.

Golden Finance reported that the U.S. Treasury: The U.S. budget deficit in October was $284 billion, market expectations were for a deficit of $235.5 billion, and the same period last year was $257 billion. October expenditures were $689 billion; revenues were $404 billion, setting a historical high for October, with net tariff revenue of $31.4 billion, a record high, far exceeding $7.3 billion for the same period in 2024.

According to ChainCatcher news and monitoring by Lookonchain, 10 U.S. Bitcoin ETFs had a net inflow of 807 BTC, with Grayscale accounting for 1711 BTC; 9 Ethereum ETFs had a net inflow of 35725 ETH, with BlackRock contributing 31141 ETH, 5

According to Jinse Finance, a customer survey on U.S. Treasury bonds by JPMorgan as of the week ending November 24 shows that the proportion of long positions rose by 4 percentage points, reaching the highest level since April, while the proportion of short positions fell by 1 percentage point, and the neutral proportion decreased by 3 percentage points. The net long positions account for the highest level since October 2010.

PANews, November 25 news, according to Jin10 reports, Alibaba (09988.HK) reported that its revenue for the second fiscal quarter of FY2026 reached 247.795 billion yuan, a year-on-year rise of 4.8%, exceeding market expectations. The cloud intelligence revenue of 39.82 billion yuan was higher than estimated, and Ant Group's profit reached 8.37 billion yuan, a year-on-year increase of 10.3%. However, the adjusted net profit was 10.35 billion yuan, lower than the expected 16.8 billion yuan, with earnings per ADS of 4.36 yuan also falling short of expectations. The company stated that it will continue to increase investments in AI and consumer sectors, and short-term profits will fluctuate.

Gate announces a reduction in the minimum investment amount for its private wealth management services from 1,000,000 USDT to 500,000 USDT, targeting high net worth and VIP clients, aimed at providing flexible asset allocation channels. At the same time, Gate continues to expand its VIP service system, launching multiple exclusive features to enhance user experience.

According to Gate News bot, on November 25, 2025, Gate announced that its private wealth management service has lowered the minimum investment threshold for private sales from the original 1 million USDT to a temporary amount of 500,000 USDT, with limited availability. This service offers exclusive services such as one-on-one asset allocation scheme design and customized private sale fund products for high-net-worth clients. The service is provided by the professional asset management team of the Gate platform, utilizing a risk diversification allocation model with multiple strategies, multiple currencies, and multiple time periods. At the same time, Gate's quantitative product "Arbitrage Pioneer-USDT" has completed the quota replenishment and reopened for subscription, with a personal subscription limit of 250,000 USDT.

The MON token issuance of Monad is exceptionally strong, with a first-day rise of over 35%, while most new token issuances driven by Airdrop (TGE) quickly fall in a weak market, indicating that the early excitement is fading. The potential dumping triggered by Airdrop claims, the decrease in Perptual Futures Holdings, and weak volume are all putting short-term pressure on Monad's price prediction chart. Due to the lack of long-term historical data, MON is still in the issuance phase, making short-term signals more important than ever. Perptual Futures Holdings is the clearest early signal for MON, as most of the new liquidity flowed into Perptual Futures Holdings in the early stages of trading. These operations often lead the spot price, especially in volatile conditions.

According to Gate News bot, the announcement from Gate platform on November 25, 2023. Gate has launched a winter skiing season event, offering professional skiing equipment to users who complete specified tasks. The registration period for the event is from November 25th, 16:00 to December 9th, 16:00 (UTC+8). Users who complete the net recharge and additional holding tasks of YuBiBao within 30 days after registration can receive corresponding rewards. Among them, completing a net recharge of 5 million USD and maintaining the same amount of average additional holdings in YuBiBao can earn a full set of Burton snow gear or an equivalent reward of 2,250 USDT. The reward tiers also include ski suits, 30th anniversary commemorative ski boards, and three-piece sets, corresponding to reward amounts ranging from 420 to 2,250 USDT.

The only Litecoin ETF in the U.S. has seen a net inflow of zero for five consecutive trading days, highlighting the lack of interest from investors since its listing in October 2025. According to data from SoSoValue, as of November 25, 2025, the Canary Litecoin Spot ETF (LTCC) has had a daily net inflow of $0 over the past five trading days. The Canary Litecoin ETF has performed the worst among the recently approved cryptocurrency ETFs, significantly lagging behind funds focused on XRP and Solana. Its net assets are only $7.44 million, and the cumulative net inflow since its launch on October 28, 2025, is only $7.26 million.

The US Spot Solana exchange-traded fund (ETF) achieved net inflows for the 20th consecutive trading day on Monday, continuing the sustained rise since its launch in late October. According to data from SoSoValue, the Spot Solana ETF had a net inflow of 58 million USD yesterday, with the Bitwise BSOL fund leading the way with a net inflow of 39.5 million USD. This is the third largest net inflow for the Solana fund report and the largest net inflow since November 3.

The price of XRP has rebounded after a recent fall. At the same time, according to data from SoSoValue, the Spot XRP ETF saw a net inflow of $164 million on November 24, marking the second-highest single-day inflow since the fund began trading. Grayscale's GXRP led all issuers with a capital inflow of $67.36 million after its launch yesterday. Franklin Templeton's XRPZ followed closely with an inflow of $62.59 million. This marks the seventh consecutive day of capital inflow for XRP, and it is the second highest daily capital inflow recorded since the launch of the Canary fund.

On Monday, a Block Trading trader bet that the price of Bitcoin would continue to rebound until the end of the year, expecting the price to break the 100,000 USD mark again, but not reach a new all-time high. This is a massive "bullish vulture" Options strategy with a notional value of 20,000 Bitcoins (1.76 billion USD), betting that the price of Bitcoin will continue to rise above 100,000 USD before the end of the year. Bitcoin, as the highest market capitalization cryptocurrency, has rebounded from last week's low of nearly $80,000 to about $88,000. Although this rebound is mainly driven by market expectations of a 25 basis point rate cut by the Federal Reserve in December, institutional buying has not yet returned for spot ETFs. According to SoSoValue, on Monday, 11 spot ETFs recorded a net outflow of $151 million.

Strategy did not increase its holdings of Bitcoin last week, breaking a six-week streak of increases. It currently holds 649,870 Bitcoins, with the stock price down about 70% from its peak, and the current trading price is slightly above 1.2 times the net asset value.

Foresight News reports that the DeFi protocol Spark has opened a proposal vote for the "SubDAO Proxy Management Plan," which will last until November 28. The proposal includes that Spark will accumulate all net profits into the SubDAO Proxy (treasury). Surplus funds beyond the risk capital and operational expenditure needs of Spark will be used to purchase SPK Tokens according to governance parameters. As the treasury's surplus capital grows, the scale of repurchases will automatically expand according to the program.

Gate News bot message, on November 24, Bitcoin ETFs recorded net outflows of 2,588 BTC (approximately $626.29 million), with BlackRock's fund contributing to a decrease of 1,452 BTC ($126.93 million). In contrast, Ethereum ETFs demonstrated positive performance with net inflows of 2,123 ETH ($6.07

BlockBeats news, on November 24, the founder of Equation News, Vida, posted on her personal channel yesterday that she is gradually implementing DCA (Dollar Cost Averaging) on some coins with particularly small market capitalization and liquidity value, while also continuously increasing her position in Bitcoin at the $84,000 level (accounting for 0.5% of her net worth). In addition, Vida stated, "The more the market falls, the more excited I become. If BTC flash crashes to $77,000 within this week, I will directly allocate 5% of my net worth to BTC."

PANews, November 24 news, according to Cointelegraph, Artemis data shows that in the past 24 hours, Sui led in stablecoin supply changes with a net inflow of 2.4 billion dollars, followed closely by Aptos and Ethereum.

Odaily News Due to the price of Bitcoin falling over 30% from its historical high at the beginning of October, Satoshi Nakamoto's net worth in Bitcoin has shrunk by $41 billion in just over a month. According to data from Arkham Intelligence, based on wallet tracking that is believed to be related, the total holdings of Bitcoin have decreased in value from $137 billion a month ago to $95.8 billion. When the price of Bitcoin reached a historical high of $126,080 at the beginning of October, the total assets reached $137 billion, ranking 11th on the Forbes Billionaires List, above Bill Gates. As the price of Bitcoin recently fell to around $87,281, his net worth has dropped to $95.8 billion, lower than Bill Gates.

According to a report by Jinse Finance, 1inch's report shows that 83% - 95% of the liquidity in mainstream Decentralized Finance (DeFi) liquidity pools such as Uniswap and Curve is idle, with billions of dollars in funds not generating fee income or any returns. This inefficiency issue has a particularly severe impact on retail liquidity providers: 50% of retail investors incur losses due to impermanent loss, with total net losses exceeding 60 million dollars. 1inch proposed to solve this problem through its Aqua protocol - this protocol allows DeFi applications to share a unified liquidity pool, aiming to optimize liquidity utilization, reduce capital fragmentation, and simultaneously enhance returns for liquidity providers.

PANews reported on November 22 that the Bitcoin mining company Bitdeer tweeted that as of November 21, its Bitcoin holdings had decreased to 2,084.7 coins (pure holdings, excluding customer deposits). Additionally, this week the Bitcoin mining output was 121 BTC, with a net reduction of 385.6 coins.

Last week, $2 billion flowed out of encryption ETFs, setting the largest weekly outflow record since February, with a total outflow of $3.2 billion for the third consecutive week. Bitcoin and Ethereum ETFs saw outflows of $1.4 billion and $689 million respectively, with total managed assets dropping 27% from the peak in October.

According to SoSoValue data, on November 21, the net inflow of Bitcoin Spot ETF reached $238 million, with the highest net inflow of Fidelity ETF FBTC at $108 million. BlackRock ETF IBIT had a net outflow of $122 million. The current net asset value of Bitcoin Spot ETF is $110.11 billion.

Odaily News According to monitoring by Arkham, (as the BTC price continues to fall,) the Satoshi Nakamoto address has lost 47 billion USD, bringing personal wealth down to 90.7 billion USD, the lowest point since reaching an ATH of 137 billion USD last October. The 47 billion USD loss generated by the market decline accounts for approximately 34% of its historical highest net worth.

Gate News bot message, according to market data from November 21, both Bitcoin and Ethereum ETFs recorded substantial outflows. Ten Bitcoin ETFs saw a combined net outflow of 7,341 BTC, equivalent to $626.29 million. BlackRock's Bitcoin ETF experienced the largest outflow of 4,108 BTC ($350.42 milli