Morning News | BlackRock Bitcoin ETF inflows near $100 billion; People's Bank of China defines stablecoins for the first time; Upbit plans to gradually resume deposit and withdrawal functions starting December 1
Overview of Important Market Events on November 30整理：ChainCatcher
Important News:
- Nasdaq Executive: We are fully promoting the tokenized stock plan, and SEC approval is our top priority
- Crypto payment company Truther to launch non-custodial USDT Visa card in El Salvador
- Arthur Hayes: Tether bought gold and Bitcoin anticipating interest rate cuts; USDT may go bankrupt if assets drop 30%
- BlackRock Bitcoin ETF inflows near $100 billion, IBIT sets record
- Beijing Business Daily: The People's Bank of China defines stablecoins for the first time, industry analysis says it won't affect Hong Kong's stablecoin layout
- Sun Yuchen: My WeChat was hacked, I am urgently contacting to retrieve it
- Upbit plans to gradually restore deposit and withdrawal functions starting December 1
What important events have occurred in the past 24 hours?
According to ChainCatcher, Matt Savarese, head of Nasdaq's digital asset strategy, stated that the exchange has prioritized SEC approval for its tokenized stock program and will "accelerate the process as much as possible." The proposal aims to allow investors to trade tokenized assets based on publicly listed company shares on the Nasdaq platform.
Savarese emphasized that Nasdaq is not trying to "disrupt the existing system," but rather hopes to promote tokenized assets to the mainstream in a "responsible and investor-oriented" manner under the SEC regulatory framework. He mentioned that the proposal will be continuously improved based on public feedback and regulatory issues.
Reports indicate that tokenized stocks have become one of the key discussion points in the crypto industry this year. In September, Galaxy Digital announced it became the first Nasdaq-listed company to tokenize its equity on a major blockchain. Additionally, many industry insiders are cautiously optimistic about the potential value addition that tokenized stocks could bring to the crypto ecosystem, arguing that if tokenized assets primarily operate on various layer-two networks, the space for value to flow back to Ethereum and the broader crypto market may be limited.
Hassett: Will be very willing to serve as Fed Chair if nominated by Trump
According to ChainCatcher, Hassett, director of the White House National Economic Council, stated that if President Trump nominates him to serve as Fed Chair, he "would be very willing to take the position."
Michael Saylor releases Bitcoin Tracker information again, possibly hinting at another BTC purchase
ChainCatcher reports that Strategy founder Michael Saylor has released information related to the Bitcoin Tracker again.
According to previous patterns, Strategy always discloses information about increasing Bitcoin holdings the day after relevant news is released.
Upbit plans to gradually restore deposit and withdrawal functions starting December 1
ChainCatcher reports that South Korean cryptocurrency exchange Upbit has officially announced that deposit and withdrawal functions will gradually resume starting at 1 PM on December 1, 2025, with the first to be restored being network digital assets whose wallet systems have passed inspection and whose deposit and withdrawal security has been confirmed, including Akash Network digital asset AKT, Ethereum ecosystem assets: 1INCH, AAVE, ADT, etc. Due to security vulnerability fixes and wallet system maintenance, all digital assets will require new deposit addresses. According to previous reports, Upbit suspended deposits and withdrawals due to the theft of $36.8 million in Solana network assets.
According to ChainCatcher, Beijing Business Daily published an article today titled "Speculative trading has risen, the People's Bank of China strikes again against virtual currency, and for the first time defines stablecoins," which points out: The People's Bank of China recently held a meeting to coordinate efforts to combat virtual currency trading speculation, where financial regulatory authorities defined stablecoins for the first time, clarifying that stablecoins are a form of virtual currency that currently cannot effectively meet customer identity verification, anti-money laundering, and other requirements, posing risks of being used for money laundering, fundraising fraud, and illegal cross-border fund transfers, and reiterating the need to continue combating illegal financial activities related to virtual currencies.
However, industry insiders believe that this meeting will not affect the relevant layout of stablecoins in Hong Kong, but speculation on stablecoins in mainland China will be severely cracked down on. The imagination space for relevant entities in mainland China to layout stablecoins in Hong Kong will be greatly reduced, more limited to practical application scenarios such as cross-border payments and supply chain finance.
ChainCatcher reports that Sahara AI officially stated that it has noticed abnormal fluctuations in the price of the SAHARA token and has launched an internal investigation. Currently, there are no security risks or product-level issues on the Sahara platform, and further updates will be provided.
According to HTX market data, SAHARA briefly plummeted 50% to $0.03468, with its market cap halving to $106 million, and has slightly rebounded to $0.044.
ChainCatcher reports that according to KOL Crypto Fearless, the abnormal drop in SAHARA price was due to the recent liquidation of its active market maker.
Insiders analyzed that this active market maker managed several well-known projects including MMT and SAHARA. Subsequently, this market maker was discovered by the trading platform due to abnormal market making in a certain project, and all associated addresses/accounts were investigated, leading to an overall restriction on their positions. Ultimately, the position was risk-controlled, resulting in last night's plunge. Michael Saylor releases Bitcoin Tracker information again, possibly hinting at another BTC purchase.
dYdX community passes new proposal for "Liquidation Rebate Pilot Program"
ChainCatcher reports that the dYdX community has passed a new proposal for a "Liquidation Rebate Pilot Program," which will launch a one-month pilot program starting December 1, 2025, rewarding traders who experience liquidation events with points and rebates, up to $1 million.
Crypto payment company Truther to launch non-custodial USDT Visa card in El Salvador
ChainCatcher reports that according to CoinDesk, crypto payment company Truther will launch a payment card in El Salvador on January 29, 2026, allowing users to spend USDT directly from their self-custodied wallets through a partnership with Visa.
The card does not require preloading or custodial services, with a currency exchange fee of 2%, and Brazilian users do not need to pay the IOF tax. After its launch in El Salvador, the card will be available to all Truther users. Truther plans to expand its services to other countries, including Argentina, Mexico, Colombia, and Russia, and will integrate more local stablecoins into its self-custodied wallet before early 2025.
Arthur Hayes: Tether bought gold and Bitcoin anticipating interest rate cuts; USDT may go bankrupt if assets drop 30%
ChainCatcher reports that BitMEX co-founder Arthur Hayes commented on Tether's audit report on X platform, stating, "The Tether team is in the early stages of a large-scale interest rate trade. They believe the Federal Reserve will cut interest rates, which will significantly reduce interest income. To cope with this situation, they are buying gold and Bitcoin; theoretically, as currency prices drop, the prices of these assets should soar. If the holdings of gold and Bitcoin drop by about 30%, their equity will vanish, and USDT will theoretically go bankrupt. I believe some large holders and exchanges will demand real-time visibility into their balance sheets to assess Tether's solvency risk."
Monad founder responds to Arthur Hayes' criticism: I can send you some MON tokens for you to experience
ChainCatcher reports that in response to Arthur Hayes' frequent attacks on MON, Monad founder Keone Hon stated on X, "I have great respect for everything you have done for the industry. Perpetual contracts are an amazing innovation, and I believe they will continue to grow rapidly in the future. Over the past few days, I have seen you comment on Monad multiple times; while some content may have been taken out of context, I think you might be interested in what makes Monad unique. I am sure that when you were innovating at BitMEX, you faced a lot of FUD, but you faced the doubts head-on and continued to move forward, and I dare to respond in the same way… If you are willing to try Monad, I can send you some MON."
Previously, Arthur Hayes had repeatedly criticized Monad, even stating he wanted to send MON, which he called "dog shit," to zero.
Wyoming Stablecoin Committee releases stablecoin FRNT testnet faucet
ChainCatcher reports that according to market news, the Wyoming Stablecoin Committee has released a testnet "faucet" for the Frontier Stable Token (FRNT). Anyone with a digital wallet can now connect to their website and choose from one of the eight testnets.
After that, they can request up to 1,000 "tFRNT" tokens to their public address every 24 hours. tFRNT is not backed by any reserves; it is merely a token on the testnet (i.e., development) blockchain, designed to "simulate the deployment of smart contracts on its supported seven mainnet blockchains." According to previous news, the Wyoming stablecoin FRNT is still unavailable for purchase after its mainnet launch last month.
Strategy CEO: Will only sell Bitcoin if mNAV falls below 1 and cannot raise funds
ChainCatcher reports that according to Cointelegraph, Strategy CEO Phong Le recently stated publicly that the company will only consider selling Bitcoin if its mNAV falls below 1 and it cannot obtain new funds through financing—calling it a "last resort."
Phong Le emphasized that this is not a shift in long-term policy or an active selling plan, but a "financial decision" taken only in extreme market conditions and deteriorating capital environments. Strategy has released a new "BTC Credit" dashboard this month in response to recent market concerns about its liabilities and liquidity. The company stated that even if Bitcoin prices remain low for an extended period, its debt structure and cash flow coverage remain robust.
Vitalik: Hopes Zcash can resist the influence of token voting forces
ChainCatcher reports that Vitalik Buterin stated on X that he hopes Zcash can resist the influence of dark forces like token voting, which is terrible in every aspect, even worse than Zcash's current situation. If ordinary token holders are allowed to take control, privacy is the kind of thing that will gradually erode over time.
Sun Yuchen: My WeChat was hacked, I am urgently contacting to retrieve it
ChainCatcher reports that Sun Yuchen posted on X, reminding that "My WeChat was hacked, I am urgently contacting to retrieve it."
BlackRock Bitcoin ETF inflows near $100 billion, IBIT sets record
ChainCatcher reports that according to Cryptopolitan, BlackRock operates over 1,400 ETFs globally, managing over $13.4 trillion in total assets. Cristiano Castro, head of business development for BlackRock Brazil, stated that the company's Bitcoin fund currently ranks first in revenue, with inflows into Bitcoin ETFs (including the US fund IBIT and the Brazilian fund IBIT39) nearing $100 billion.
Among them, IBIT launched in January 2024, becoming the fastest ETF in history to reach $70 billion in assets, taking only 341 days. Reports also indicate that IBIT recorded over $52 billion in net inflows in its first year, surpassing all other ETFs launched in nearly a decade; by October 2025, IBIT's annual fee income had reached approximately $245 million.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of December 1, 09:00,
The top five popular ETH tokens in the past 24 hours are: SHIB, LINK, PEPE, UNI, ONDO
The top five popular Solana tokens in the past 24 hours are: TRUMP, Fartcoin, PUMP, FWOG, TAI
The top five popular Base tokens in the past 24 hours are: NATO, B3, TOSHI, toby, KEYCAT
What are some interesting articles worth reading in the past 24 hours?
Central Bank's first major positioning on stablecoins, where will the market go?
On November 29, the People's Bank of China officially published an article titled "Meeting on Coordinating Work to Combat Virtual Currency Trading Speculation," providing the latest discussion on virtual currencies and stablecoins.
The article provided the latest positioning on stablecoins, stating, "Stablecoins are a form of virtual currency that currently cannot effectively meet customer identity verification, anti-money laundering, and other requirements, posing risks of being used for money laundering, fundraising fraud, and illegal cross-border fund transfers."
In 2012, Jordan Fish, also known as Cobie, had $200 and a dilemma.
At that time, he was a computer science student at the University of Bristol, working at Tesco to pay rent, and his living conditions… were not great. For a working-class kid, the basic common sense of going to college is: you need money to live, but you also need time to study, and there are only 24 hours in a day. So, he took out $200 to buy Bitcoin.
This was clearly the right decision, but not in the way you might think.
Risk warning
Risk warning
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