Good Morning,

Here's a quick preview of today’s content: San Francisco thief steals $11M in crypto after tying up homeowner, House bill would allow taxes in BTC while aiding US reserve, Grayscale's Dogecoin and XRP ETFs launch, Strategy supporters call for boycott of JP Morgan, Tom Lee sees Bitcoin as high as $200k by January’s end, and so much more

Happy Monday - Let’s dive in.

Market Snapshot

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• Bitcoin plunged below $82K after weak US jobs data dimmed rate-cut hopes, pushing sentiment into extreme fear

  • Nearly $1B BTC was liquidated with total crypto liquidations topping $2.2B

  • BTC ETFs have bled a record $3.79B in November, including $1.2B last week alone

  • SOL and XRP ETFs attracted nearly $900M combined

  • XRP fell with the market but jumped +7%, while ZEC surged +14%

• Realized losses have risen to FTX-era levels, with ETH hitting a 4-month low and majors sliding into oversold territory

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Satoshi’s Bitcoin wealth falls by $41B (DC)

• Bitcoin suffers flash crash on Hyperliquid (CD)

• San Francisco thief steals $11M in crypto after tying up homeowner (NYP)

• Solo Bitcoin miner earns $266K BTC reward (DC)

• Tom Lee sees Bitcoin as high as $200k by January’s end (BBG)

• ‘Rich Dad, Poor Dad’ author sells his BTC (CT)

• BlackRock Bitcoin clients aren’t considering Bitcoin’s daily use (CT)

• Spot Bitcoin ETFs see near-record outflows (TB)

• AI valuation fears deepen on Wall Street (DC)

• BlackRock Bitcoin ETF sheds $2.47B in November (CT)

• Wall Street’s crypto engine loses power as ETF flows reverse (BBG)

• Crypto crash is eroding wealth for Trump’s family (BBG)

• Memecoin market sinks to 2025 low as $5B wiped out (CT)

• Fanatics enters prediction markets via Crypto.com partnership (CD)

• Strategy supporters call for boycott of JP Morgan (CT)

• Monad token sale ends oversubscribed on Coinbase (TB)

• Crypto wealth manager turns memecoins into a billion dollars (CD)

• Build on Bitcoin token rallies on Coinbase listing (TD)

• Ark Invest loads up on Coinbase, BitMine and Circle stock (DC)

• Michael Saylor defends Strategy as MSCI Index risk looms (TD)

• BitMine shares tumble after earnings (DC)

• PayPay integrates with Binance Japan (CT)

• Philippines bets on Sui's for education system (DC)

• Anchorage Digital adds HYPE staking support (CT)

• Coinbase 'negative premium' at widest level since Q1 (CD)

• $12B in DeFi liquidity sits idle as 95% of capital goes unused (CD)

• NFT lending TVL nears all-time lows (TD)

• Telos begins trusted setup ceremony for privacy layer (CD)

• Offchain Labs challenges Vitalik's RISC-V proposal (TB)

• Coinbase executes internal wallet migration (CT)

Venture Capital

• Dtcypay, a crypto startup, raises $16.5M in a pre-Series A round led by Kwee Liong Tek, and others (DP)

• Crypto platform HelloTrade raises $4.6M in seed funding to build a blockchain led by Dragonfly Capital (FM)

M&A Announcements

• Coinbase acquires Solana memecoin social trading app Vector (DC)

Launches

• Grayscale's Dogecoin and XRP ETFs launch (TB)

• Coinbase expands 24/7 futures trading for altcoins (TB)

• LeverageShares debuts 3x Bitcoin and Ether ETFs in Europe (TB)

• Tom Lee's BitMine begins offering annual dividend (TB)

• Wormhole Labs unveils 'Sunrise' gateway (TB)

• BitMine announces 2026 ETH staking plans (CT)

• KuCoin Pay integrates with Brazil’s Pix payments network (CT)

• Crypto liquidity provider GSR expands institutional platform (CD)

Regulation

• United States, Korea, and Brazil eye crypto tax crackdown (TD)

• House bill would allow taxes in BTC while aiding US reserve (CD)

• Japanese tax policy allows Bitcoin treasury firms to outperform US (CD)

• Crypto industry makes tax policy push with private dinner (DC)

• Ex-Coinbase lawyer announces run for NY Attorney General (CT)

• Federal agency asked to halt Grok AI use amid racism concerns (DC)

Cybersecurity

• US probes Chinese miner Bitmain over national security concerns (TB)

• Base lets bots front-run its founder as snipers walk off with $1.3M (CD)

• Cardano network disrupted by transaction attack (DC)

• Top DEXs hit with front-end compromise (TB)

• UK hits Russian sanctions evasion arrests and seizes $32.6M in crypto (DC)

• Crypto ATM firm considers $100M sale following money laundering charges (TB)

• Indonesia detains hacker tied to crypto theft after $398K loss (DC)

• Brazil faces surge in worm attacks targeting crypto apps (CD)

• Samourai Wallet co-founder sentenced to four years (BM)

• aPriori denies insider role of APR airdrop (CT)

Extra Reads

• Historically, yen weakness has been linked to risk-on sentiment, but this narrative now appears challenged against the backdrop of Japan’s mounting fiscal strains - Is the yen slump bullish for BTC and risk assets

• Gold has long met store-of-value standards, while fiat currencies lose purchasing power over time, but Bitcoin now meets several of the same store-of-value benchmarks - Can Bitcoin really be a store of value?

• Layer-1 blockchains are the foundational networks that validate, record, and finalize transactions independently, powering Bitcoin, Ethereum, and beyond - What is a layer-1 blockchain?

Chart of the Day

Short-term holders dumped -62.4K BTC to exchanges at a loss

Meme Dump

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