News & Research

Binance co-founder He Yi has been appointed co-CEO of the exchange, Fortune Crypto reported. She is expected to oversee marketing and customer-related operations, while current CEO Richard Teng will focus on regulatory and legal compliance. The outlet noted that while the appointment marks the emergence of a new female leader in the crypto industry, it could also attract additional regulatory scrutiny. This is due to her having children with Changpeng Zhao, who is prohibited from participating in the company's management. He Yi stated that her personal and business lives are independent.

The Australian Bitcoin Industry Body (ABIB) has sent a letter of protest to the country's public broadcaster, ABC, Cointelegraph reported. The complaint stems from a broadcast that allegedly portrayed Bitcoin as a tool used exclusively by criminals. The association argued that the program completely ignored Bitcoin's intrinsic value, depicting it solely as a means for money laundering. ABIB also criticized the language and terminology used in the report as highly sensationalist, adding that its narrow focus on price volatility and links to U.S. politics constituted biased reporting.

FTX founder Sam Bankman-Fried, who is currently serving a prison sentence for fraud, has resurfaced on social media, The Block reported. On the platform X, Bankman-Fried commented on President Donald Trump's pardon of former Guatemalan President Juan Orlando Hernandez, who was imprisoned on drug trafficking charges, stating that Hernandez was more deserving than anyone. The outlet noted that this is being interpreted as an indirect appeal for his own pardon. Bankman-Fried was convicted in 2023 on fraud and conspiracy charges for misappropriating billions of dollars in customer funds and is currently appealing the verdict.

Digital asset infrastructure firm Taurus has partnered with blockchain infrastructure provider Everstake to support staking for SOL, NEAR, ADA, and XTZ, The Block reported. The staking functionality will be integrated into Taurus-PROTECT, the company's institutional custody solution used by global banks. This integration enables clients to stake their assets directly from custody without needing to move them externally.

U.S. President Donald Trump stated that he will nominate a new Federal Reserve Chair early next year, Walter Bloomberg reported.

Kraken has acquired Backed Finance to expand its tokenization business, Unfolded reported.

Cantor Equity Partners (CEPT), a special purpose acquisition company (SPAC) backed by a Cantor Fitzgerald affiliate, will hold a shareholder vote on Dec. 3 to approve its merger with Bitcoin investment firm Twenty One Capital. Twenty One Capital CEO Jack Mallers stated that if approved, the merger could be completed as early as next week. The company, co-founded by Tether, Bitfinex, and Cantor Fitzgerald, is pursuing a Nasdaq listing through the deal. Twenty One Capital currently holds 43,514 BTC. Excluding spot ETFs, the firm is the third-largest corporate holder of BTC, after Strategy (MSTR) and MARA Holdings (MARA).

The Crypto Fear & Greed Index, compiled by data provider Alternative, has fallen one point from yesterday to 23, remaining in the extreme fear category. The index measures market sentiment on a scale where zero represents extreme fear and 100 signifies extreme optimism. It is calculated using several metrics, including volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).

An address suspected of belonging to either Bitmine (BMNR) or the Nasdaq-listed SharpLink Gaming (SBET) acquired 7,080 ETH ($19.89 million) from FalconX, Onchain Lens reported. The address now holds a total of 23,772 ETH ($66.77 million).

Selling pressure is intensifying across the Bitcoin and broader cryptocurrency markets, driven by a surge in risk-off sentiment after Japan's 20-year government bond yield hit a 25-year high, CoinDesk reported, citing multiple analysts. The outlet noted that the spike in yields increases the likelihood of yen carry trade liquidations. Compounding the issue are growing global economic uncertainties, highlighted by emerging debt risks at AI companies and China's tightening regulations on digital assets. Stablecoin-related risks also persist. Investor sentiment was further dampened after S&P downgraded Tether's USDT stability rating to its lowest level of five, which was followed by USDT trading below the official exchange rate in China.