Switzerland's AMINA Bank has integrated Paxos' USDG stablecoin, providing custody, trading, and rewards, joining the global dollar network. Institutional clients can enjoy an annualized rate of up to 4%, and it connects with mainstream encryption platforms. This indicates that institutions prefer to use stablecoins within a compliance framework, valuing compliance over returns.

On December 2nd, the global bond market was in turmoil. The reason? Bank of Japan Governor Kazuo Ueda dropped a bombshell—hinting at a possible interest rate hike this month.
It should be noted that the market originally expected the Bank of Japan to continue to maintain a wait-and-see approach. This sudden statement directly caused the 10-year Japanese government bond yield to soar to 1.879%, setting a new highest closing record since June 2008. Along with this, the 10-year U.S. government bond yield was also lifted to 4.095%, and it is worth noting that this figure was hovering below 4% in the middle of last week.
Why is this matter so serious?
Because Japan is the largest overseas buyer of US debt, holding about $1.2 trillion in US Treasury bonds. If Japan really tightens its monetary policy, it means that domestic funds in Japan will accelerate their withdrawal from overseas assets such as US bonds and flow back to the homeland. This reversal of capital flow is enough to interrupt the downward trend of US Treasury yields.
What Wall Street is most worried about now is

The ETF data from December 2nd is quite interesting, with a clear divergence in fund flows.
BlackRock's ETHA continues to attract capital, with a net inflow of $26.6535 million in a single day, bringing its total funds raised to $13.174 billion. In contrast, Grayscale's ETHE is still experiencing outflows, with $49.788 million flowing out on the same day, totaling $4.982 billion in outflows.
From an overall perspective, the total net asset value of Ethereum spot ETFs is now $17.209 billion, accounting for 5.17% of the total market capitalization of ETH. Although Grayscale continues to experience outflows, the cumulative net inflow of the entire ETF sector has still reached $12.866 billion, indicating that the influx of new funds is surpassing the withdrawal of old funds.
This polarized pattern may reflect investors' differing preferences for fees and product structures.

【Block Rhythm】Recently, I saw someone saying that Bitcoin will crash to 35,000 dollars? To be honest, this kind of argument doesn’t hold water.
Think about it, if BTC is going to crash by 75%, it must first go through a completely crazy expansion cycle, right? But this round of market hasn't even reached that stage. The market structure is more like it was in 2019, not the bubble-bursting rhythm of 2018 or 2021.
Looking back at the QT tightening phase in 2019, BTC stabilized when it retraced to the middle band of the Bollinger Bands. So even if we really encounter a hard landing, the worst-case scenario would be a monthly line breaking below the middle band, in which case the bottom might touch around the $55,000 position.
Of course, this is just a technical deduction. But those predictions that casually mention over 30,000 are mostly made by people who haven't seriously looked at the historical trends and the differences in the current market structure.

A mysterious address recently withdrew 25 million ENA from an exchange, with a total of 405.15 million transferred, and a market capitalization nearing 9.68 million USD. The market is full of speculation regarding its underlying intentions, focusing on the lock-up position or other strategic movements.

[Coin World] The U.S. Department of Commerce recently did something big—investing $150 million in the semiconductor new force xLight, and this is the third time the government has done this. Where does the money come from? It's from the funding pool established by the CHIPS Act passed in 2022.
In simple terms, they are targeting the most hardcore technology in chip manufacturing: particle accelerator lasers. The goal is aimed directly at the 2-nanometer process, clearly indicating their intention to compete with industry giant ASML.
This issue has caused a stir in Silicon Valley. Some believe that the government should not interfere in the operations of private enterprises and that market issues should be resolved by the market. However, Secretary of Commerce Raimondo does not think so; he made it clear that when it comes to national security and technological leadership, action must be taken when necessary.
Behind this wave of operations lies the reality of an intensifying technological competition. Should the market be allowed to operate freely, or should there be a strong intervention by national power? This debate probably won't have an answer in the short term.

Famous fund analyst Mark Newton recently stated that he is buying the dip in crypto assets, expecting prices to rise in the next two months. His view was shared by Tom Lee, but it is worth noting that his recent predictions about Ethereum have been inaccurate multiple times.

Mark Newton, a technical analyst from Tom Lee's team, stated that he is gradually building a position during the current pullback in cryptocurrency asset prices, expecting that the coin price will rise by mid-January or early February next year. Although his recent judgments on Ethereum have been inaccurate multiple times, the risk-reward ratio is still considered attractive. Investors need to weigh carefully.

On December 1st (Eastern Time), the SOL Spot ETF market experienced a net outflow of $13.55 million.
From the perspective of specific products, Bitwise's BSOL performed the best, attracting $17.18 million in a single day, bringing its historical total inflow to $545 million. Grayscale's GSOL also had a decent income, with $1.82 million coming in daily, accumulating to a total inflow of $79.64 million.
But 21Shares' TSOL is relatively unfortunate, with $32.54 million flowing out in a single day, and the historical cumulative outflow has reached $60.14 million.
As of now, the total net asset value of the entire Solana Spot ETF stands at $791 million, with a net asset ratio of 1.14%. Since its inception, there has been a cumulative net inflow of $605 million. These numbers somewhat reflect the market's differentiated attitude towards the SOL asset—some people are

On December 2, on-chain data from 【Block Rhythm】 shows that a wallet associated with Paradigm transferred 6,300 ETH to a certain compliance platform, which is approximately 17.6 million USD based on the price at that time. This operation is significant, and the movements of institutions are worth paying attention to.

On December 2nd, a wallet address related to Paradigm transferred 6,300 ETH to a compliance platform, totaling approximately 17.6 million USD. Such large transfers may indicate that institutions are preparing to liquidate or adjust their positions, and a comprehensive assessment should consider subsequent market actions.

[Coin World] The active player in the Solana ecosystem, HumidiFi, is going to issue coin. On December 5th, this decentralized liquidity platform with a daily trading volume exceeding $1 billion will launch its native token $WET through Jupiter's new issuance tool DTF, with a total supply of 1 billion.
How is the pre-sale divided? Whitelist gets 6%, mainly for early users and contributors of the platform; Jupiter's staking users can get 2%; the remaining 2% is open for everyone to grab.
$WET is not a shitcoin. Staking it can reduce transaction fees, and there are commission incentives for trading. The data speaks: HumidiFi now accounts for over 35% of the spot trading volume on Solana, and this scale deserves the issuance of its own governance Token.
If you want to participate, keep an eye on the DTF section of the Jupiter platform on December 5th. This decentralized issuance method is at least fairer than centralized snatching.

[Coin World] Breaking! Vanguard has finally made a move and officially opened the purchasing channel for Bitcoin ETF. This means that the 50 million investors under its management can now directly trade BTC ETF. The speed at which TradFi giants are getting on board is much faster than expected.

A leading compliance exchange was sued by shareholders in a Delaware court for concealing compliance loopholes, data leaks, and senior executives cashing out, seeking compensation and shared management. The timing of the lawsuit is clever, coinciding with the exchange's announcement of its move to Texas.

【Coin World】A big news has come from South Korea - Dunamu (the one that operates Upbit) is set to be acquired by Naver's fintech division.
This stock transaction gives Dunamu a valuation of $13.6 billion. The two founders have directly achieved financial freedom: Song Ji-hyung received 19% of the merged company's shares, amounting to $2.7 billion; Kim Hyung-nyeon received 10%, also bringing in $1.4 billion. These two have instantly made it onto the global rich list.
To be honest, Naver's move is quite impressive. They directly acquired Korea's largest exchange through a share swap, without spending cash, while integrating the cryptocurrency business into their own fintech landscape. For the founder of Dunamu, although they relinquished control, their wealth has soared, and they can continue to participate in the development of the merged entity, which seems to be a win-win situation.
The landscape of the cryptocurrency market in South Korea may be reshuffled.

On December 2nd, there was news from 【区块律动】 that a certain compliance platform is going to launch Plasma (code XPL). Spot trading will be available on the same day, but it depends on the circumstances—liquidity standards must be met, and the trading regions must also comply with the requirements before the XPL-USD trading pair can be officially opened.
This rhythm of listing new coins is quite common; the platform usually observes market reactions and depth performance first. For XPL holders, this is a positive development as it provides an additional trading channel.

[Block Rhythm] The prediction market sector has stirred again. Kalshi's action this time is significant, directly announcing the transfer of the entire platform to Solana.
Their plan is very clear: to tokenize all those thousands of prediction markets in hand. This move can not only attract native players on the chain but also completely open up the liquidity pools, allowing anyone to participate in market making. In simple terms, it aims to completely transform the traditional prediction market model into a decentralized one.
Now Polymarket must be feeling the pressure. They have already established themselves on Polygon, and now Kalshi is also going head-to-head with the on-chain market. The user base and trading volume of both platforms are soaring; this battle has just begun. Who will come out on top? The market will provide the answer.