Terra Luna Classic (LUNC) jumped nearly 100% today, after CoinDesk journalist Ian Allison appeared at Binance Blockchain Week Dubai wearing a vintage Terra Luna logo t-shirt while moderating interviews with executives from Mastercard, Ripple, and TON.

The image circulated across X and Telegram within hours, triggering discussion that the moment felt like a nostalgic revival of one of crypto’s most notorious altcoins.

Terra Luna Is Back? Not Quite

Traders had already been rotating into LUNC ahead of a scheduled network upgrade supported by Binance. 

The exchange confirmed it would pause deposits and withdrawals during the upgrade, signalling strong operational backing from the world’s biggest trading venue.

That announcement pushed volume sharply higher, setting the stage for fast speculative flows.

Token burn trackers reported aggressive supply reduction recently, including hundreds of millions of LUNC removed from circulation in the past week. Community messaging amplified the theme, reviving the idea of a shrinking float.

04 December 2025:

Terra Classic $LUNC Max Supply: 6,480,742,753,204 Tokens Burned Previous Day: 83,945,886 (🔴-0.0013%)

Terra Classic $LUNC Price: $0.00002834 (🟢+0.11%) pic.twitter.com/Gwppn0zHZH

— LUNC BURN UPDATE (@LuncBurnDaily) December 4, 2025

This narrative resurfaced at the same moment as Allison’s shirt went viral, reinforcing the perception of a coordinated cultural comeback.

The Do Kwon Effect

The rally also coincides with renewed attention on Do Kwon’s ongoing sentencing proceedings in the United States. Traders view developments toward legal conclusion as a potential reset point, allowing LUNC to trade like a legacy meme asset rather than a distressed one.

As volume spiked and spot markets tightened, the narrative gained traction quickly.

As expected, the DOJ wants a 12-year prison sentence for Do Kwon. Their sentencing submission suggests they don't buy Kwon's apologies, and they attack his attempts to evade blame and cast himself as a victim of Montenegrin officials. pic.twitter.com/Ub8MKk8iiP

— Alexander Osipovich (@aosipovich) December 5, 2025

Why the T-Shirt Moment Landed So Loudly

Terra’s collapse remains one of crypto’s most dramatic episodes, erasing billions in market value in 2022 and triggering regulatory crackdowns worldwide. Many in the industry still associate the logo with that moment — a symbol of excess, leverage, and systemic failure.

Seeing the design reappear on a main stage alongside established institutions added an unexpected emotional layer to the rally. It represented a strange throwback and also an emotional provocation.

$LUNC just went x2 and added 150 million to its market cap.

Not because of some innovation, not because of fundamentals, but simply because a @IanAllison123 from CoinDesk wore a $LUNC t-shirt on camera.

This is the reality of the market. People are not chasing technology,… pic.twitter.com/TpHeZwCWgm

— Cryptech Sam 𐤊 (@Cryptech_Sam) December 5, 2025

Terra’s Ghosts Are Still Here

Terra’s algorithmic stablecoin unraveled three years ago, triggering contagion that spread into lending platforms, hedge funds, and later exchanges. Millions of investors were left underwater, and it drove the biggest crypto winter to date. 

Today’s rally simply shows that memory, speculation, and narrative still carry weight in crypto — sometimes more than fundamentals.

As LUNC surged, the sight of that shirt reminded markets how quickly sentiment can swing, even for a project once written off as irrecoverable.

The post Terra Luna Classic (LUNC) Soars 100% After Viral T-Shirt Moment in Dubai appeared first on BeInCrypto.

Yi He, who was named Binance co-CEO on Wednesday, offered blunt advice for women navigating the corporate world: drop the soft-skill crutches and build undeniable expertise.

Speaking to reporters in Dubai just hours after her appointment was announced at Binance Blockchain Week, Yi He reflected on what it takes for women to succeed in male-dominated industries.

Professional Excellence Over Gender Advantages

Her message cut against conventional wisdom about leveraging “feminine” strengths—and resonated with a career that took her from a rural village in Sichuan province to the top of the world’s largest crypto exchange.

“The biggest barrier for women isn’t which industry they’re in—it’s the mental ceiling they set for themselves,” Yi He said.

She cautioned against over-relying on perceived gender advantages such as communication skills or likability.

“When you lean on these soft skills, people respect your charm rather than your expertise. That ultimately undermines your professional credibility.”

Her message was unequivocal: in business competition, being female earns no leniency.

“It’s white knife in, red knife out,” she said, using a Chinese idiom for brutal competition. “Nobody slows down because you’re a woman. If anything, the attacks can be harsher.”

The key, she emphasized, is to become the absolute best in your field—whether in marketing, growth, or content—so that colleagues and competitors alike respect your professional capability above all else.

A Consistent Message on Female Leadership

Yi He’s remarks echo views she has expressed before. In a 2023 interview, she urged women to “forget your gender” and focus instead on becoming good business leaders. “Don’t focus on the fact that you’re a woman in a man’s world,” she said. “Never set a limit on yourself.”

Later that year, in another interview, she attributed the underrepresentation of women in leadership to societal expectations that discourage them from pursuing top positions. “Many women do not speak out or pursue leadership positions because they were not encouraged to do so by their families, schools, or friends,” she said at the time.

何一谈女性职业发展：商业竞争中从无“性别让步”可言

2025 年 12 月 3 日，币安联合创始人何一成为新的币安联席 CEO 后，在迪拜举办的 2025 币安区块链周上接受媒体群访，接受 Blockbeats… pic.twitter.com/1utwcYc7tz

— 吴说区块链 (@wublockchain12) December 5, 2025

Her advice then, as now, centered on seizing opportunities proactively. “Women in tech or other new industries can be bolder and take more risks,” she noted. “They will never know what they can do unless they jump into it.”

Dual Leadership for Binance’s Next Chapter

Yi He’s appointment as co-CEO was announced by Richard Teng during his keynote at Binance Blockchain Week, where the co-CEOs outlined an ambitious roadmap for the exchange. The dual leadership structure pairs Yi He’s product innovation expertise with Teng’s background in regulated financial markets.

Teng called her promotion “a natural progression,” highlighting her role in shaping Binance’s user-first culture since its 2017 founding. The exchange now approaches 300 million users and has set a target of one billion.

When asked about the potential influence of the founder and her partner in a long-term relationship, Changpeng Zhao, Yi He drew a clear line:

“My personal life is independent from my professional life. My achievements and capabilities as cofounder are often overlooked with my personal life in question. Binance has nearly 300 million users who trust us for upholding our core values—looking after their interests, protections, and 1:1 backing for every user asset.”

The exchange now approaches 300 million users and has set a long-term target of one billion. Teng said Binance aims to become a “Super App” bridging centralized and decentralized finance. The company is also deepening partnerships with major institutions, including BlackRock and Franklin Templeton. On the compliance front, Binance blocked nearly $7 billion in potential scams in 2025. It continues to pursue regulatory approvals worldwide.

The post Yi He to Women: “No One Goes Easy on You in Business” appeared first on BeInCrypto.

A Maryland man was sentenced to prison this week for helping IT workers linked to North Korea infiltrate US companies.

This incident fits into a wider pattern in 2025, where insider access and rising crypto theft are becoming key features of North Korea’s cyber strategy. 

US Jobs Opened to North Koreans

The Justice Department announced on Thursday the sentencing of Minh Phuong Ngoc Vong, an American citizen convicted of conspiracy to commit wire fraud. Prosecutors proved that Vong used false credentials to secure remote software development jobs for North Korean nationals at 13 American companies.

According to public documents, Vong allowed a foreign operator to use his logins, devices, and identity documents to perform the work remotely. The man, who operated from China, is believed to be from North Korea.

One job created a particular risk when a Virginia technology firm hired Vong for work on a Federal Aviation Administration contract in 2023. 

Maryland Man Sentenced for Conspiracy to Commit Wire Fraud https://t.co/avJWBhOWVi

— National Security Division, U.S. Dept of Justice (@DOJNatSec) December 4, 2025

The role required US citizenship and granted him a government-issued personal identity verification card. Vong installed remote-access tools on the company laptop. The move allowed the North Korean man to complete the work from abroad inconspicuously.

The company paid Vong more than $28,000, and he sent part of those earnings to his overseas partners. Court filings show he collected over $970,000 across all companies, with most of the work performed by North Korean-linked operatives. Several firms also subcontracted with him for US government agencies, further expanding the exposure.

Vong was sentenced to 15 months in federal prison, followed by three years of supervised release.

The case comes as North Korea intensifies its global cyber operations. 

Record Year for North Korean Hacks

In October, blockchain analytics firm Elliptic reported that North Korea-linked hackers had stolen over $2 billion in cryptocurrency in 2025. This figure represents the highest annual total ever recorded. 

The overall amount attributed to the regime now surpasses $6 billion. These proceeds are widely believed to support nuclear and missile development.

This year’s surge stemmed from several major incidents, including the $1.46 billion Bybit breach, as well as attacks on LND.fi, WOO X, and Seedify. Analysts have also connected more than 30 other hacks to North Korean groups.

Most breaches in 2025 began with social engineering rather than technical flaws. Hackers relied on impersonation, phishing, and fabricated support outreach to gain wallet access. The trend highlights a growing focus on human weaknesses over code vulnerabilities.

Taken together, these trends suggest a coordinated approach, with North Korea combining insider infiltration with advanced cryptocurrency theft to expand both its income and operational footprint.

The post Maryland Man’s Fraud Conviction Highlights North Korea’s Rising Crypto Threat appeared first on BeInCrypto.

Is Elon Musk’s SpaceX Really Selling Its Bitcoin, Or Is It Just FUD?

SpaceX’s recent Bitcoin transfers have sparked fresh debate across crypto markets, with Twitter speculation claiming the company may be preparing to sell. 

However, on-chain data suggests a more nuanced picture, and there is no confirmed evidence of liquidation.

SpaceX Bitcoin Sell Fears

Arkham data shows SpaceX moved around 2,246 BTC in the past 12 hours and one week prior. 

The transfers include two large outflows totaling over $200 million, alongside several small inbound transactions from Coinbase Prime.

The company still holds over 5,012 BTC, valued at roughly $448 million. That means less than half of SpaceX’s tracked Bitcoin has moved, despite viral claims that the company transferred “all” of its holdings.

Crypto Twitter rushed to interpret the outflows as imminent selling. Social media posts argued that fund movement from treasury wallets to new addresses signals a liquidation event, a behaviour often seen before corporate selloffs.

SpaceX is about to SELL all their Bitcoin. They’ve moved it all to an exchange, a move done only when selling. pic.twitter.com/uQ8AAsNCWe

— Jacob King (@JacobKinge) December 5, 2025

However, the receiving wallets are not labelled as exchanges, and no direct link to Binance, Coinbase or OTC liquidation desks has been confirmed. 

This weakens the assumption that the transfers represent a planned dump.

There are also neutral explanations. SpaceX could be rotating wallets for security, consolidating funds, or shifting custody structure. Corporate treasuries regularly rebalance or upgrade storage without selling.

Also, this move could even be interpreted as potentially bullish. Funds may be headed toward OTC desks or multi-sig vaults instead of sell-side liquidity pools, which would apply no immediate market pressure.

Today, Bitcoin has dropped below $90,000 again, but it was mostly driven by US ETF outflows and macro fears from the Bank of Japan increasing interest rates. 

For now, SpaceX’s activity is notable, but not conclusive. Until the destination wallets link to a known exchange or distribution pattern appears, the claim that Elon Musk’s space giant is selling Bitcoin remains unproven.

The line between fear and fact is thin, and today, the noise is louder than the data.

The post Is Elon Musk’s SpaceX Really Selling Its Bitcoin, Or It’s Just FUD? appeared first on BeInCrypto.

With 2026 on the horizon, uncertainty is mounting over whether the crypto market structure bill will sail through early in the year or become mired in a political fight that pushes its passage further down the calendar.

Key unresolved issues continue to slow momentum, including how the bill should address stablecoin yield, conflict-of-interest language, and the treatment of decentralized finance under federal law.

Path to Senate Vote Uncertain

The CLARITY Act cleared the House in July with broad bipartisan support, marking the strongest move yet toward a federal digital asset framework.

The bill now awaits action in the Senate, where the Banking and Agriculture committees are advancing parallel versions of a market-structure framework. The Senate’s split jurisdiction adds complexity, with the Banking Committee overseeing securities, while the Agriculture Committee handles commodities.

Both committees have now published discussion drafts, but a unified package has yet to emerge. Lawmakers still need to reconcile differences before either committee can send a combined bill to the Senate floor.

One major technical dispute involves how the legislation should treat yield-bearing stablecoins.

Banks Push Broader Yield Restrictions

The GENIUS Act, passed earlier this year, bars permitted stablecoin issuers from paying holders any form of interest or yield. 

However, the restriction is narrowly written. It applies only to direct payments from payment-stablecoin issuers and does not explicitly cover reward programs, third-party yield, or other digital asset structures.

The banks demanded the exclusion for yield-bearing stablecoins in the GENIUS Act. Now they're upset that the language they asked for doesn't screw over stablecoin holders hard enough.

Sorry you guys did a bad job negotiating your regulatory moat. Try lobbying better next time! https://t.co/3BbjUxmZlm

— Jake Chervinsky (@jchervinsky) August 13, 2025

Banking groups argue these gaps could allow workarounds and are urging lawmakers to expand the prohibition in upcoming market structure legislation. They want a broader rule that covers all forms of yield associated with stablecoins. 

Several senators appear open to that approach, giving the issue significant weight in negotiations. Any expansion would influence how stablecoins compete with traditional bank deposits, which remains a central concern for the banking lobby.

Meanwhile, lawmakers remain divided over how the broader framework should address potential conflicts of interest.

Concerns Over Political Influence Intensify

The involvement of US President Donald Trump and his family members in crypto-related projects has prompted renewed scrutiny of potential ethical concerns. 

Some lawmakers, such as Senator Elizabeth Warren, argue that new conflict-of-interest language is necessary to ensure that political figures and their relatives are prohibited from engaging in activities that could raise questions about their influence over digital asset policy.

Such measures would help insulate the legislation from perceptions of political interference.

However, the proposed language does not appear in the House-passed CLARITY Act, nor was it included in earlier Senate drafts. Its absence has become a point of debate, and the disagreement is contributing to ongoing hesitation.

Meanwhile, questions remain regarding how the bill should address decentralized finance (DeFi).

DeFi Oversight Remains Unresolved

The market structure bill is designed for centralized intermediaries, including exchanges, brokers, and custodial platforms. Yet the rapid rise of DeFi introduces questions the Senate has not fully resolved.

First Ken Griffin screwed over Constitution DAO

Now he's coming for DeFi, asking the SEC to treat software developers of decentralized protocols like centralized intermediaries

Bet Citadel has been lobbying behind closed doors on this for years

Okay thats all pretty bad, but… pic.twitter.com/ExoNhbhadu

— Hayden Adams 🦄 (@haydenzadams) December 4, 2025

Current drafts primarily focus on custodial activity. However, some traditional financial institutions are advocating for broader definitions that would classify developers, validators, and other non-custodial actors as regulated intermediaries.

Such an approach would significantly expand federal oversight and reshape the legal environment for open-source development.

Until lawmakers define that boundary, the bill is unlikely to advance. The DeFi question remains one of the key factors shaping when the market structure bill may finally move forward in 2026.

The post What Does the Market Structure Bill ‘CLARITY Act’ Need to Pass in 2026? appeared first on BeInCrypto.

Bitcoin slipped under $90,000 this week as liquidation pressure, weak ETF demand, and macro uncertainty converged. 

The fall erased gains from earlier attempts to reclaim the $94,000–$95,000 zone, marking the second major breakdown this month.

Forced Liquidations Across the Market

The catalyst was a cascade of forced long liquidations. Nearly $500 million was wiped out across exchanges, including around $420 million in long positions, and over 140,000 traders were liquidated in a 24-hour window. 

ETF flows failed to absorb the selling. BlackRock’s iShares Bitcoin Trust recorded six straight weeks of outflows totaling more than $2.8 billion. 

US ETF inflows fell to just $59 million on December 3, signalling fading appetite from institutions.

Macro Pressure Added Fuel to the Drop

The macro backdrop turned hostile. The Bank of Japan signaled a possible rate hike, threatening the carry-trade liquidity that helped sustain global risk assets. 

Traders also derisked ahead of the US PCE inflation release, forcing Bitcoin into a cautious $91,000–$95,000 holding pattern.

BREAKING: Bitcoin pumped $1500 on the lower than expected PCE data. But then it crashed -$3500 in 60 minutes.

This wiped out $155 million worth of long positions in last 1 hour.

There is no negative news or sudden FUD which could cause this type of sudden dump.

It appears that… pic.twitter.com/G3twQw0Yud

— Bull Theory (@BullTheoryio) December 5, 2025

The latest US PCE data arrived broadly in line with expectations, showing cooling core inflation but still above the Federal Reserve’s target. 

Markets reacted cautiously, interpreting the print as evidence that inflation continues to ease, but not fast enough to guarantee rapid rate cuts.

Corporate signals amplified the fear. MicroStrategy warned it may sell Bitcoin if its treasury-valuation ratio weakens, triggering a 10% decline in its stock. 

Miner stress increased as energy costs rose, hashrate fell, and high-cost operators began liquidating BTC to remain solvent.

On-chain flows reflected split sentiment. Matrixport moved more than 3,800 BTC off Binance into cold storage, suggesting accumulation among long-term holders. 

However, analysts estimate that a quarter of all circulating supply remains underwater at current prices.

Matrixport has withdrawn 3,805 $BTC($352.5M) from #Binance over the past 24 hours.https://t.co/GLzqCvlogX pic.twitter.com/54whKSsISy

— Lookonchain (@lookonchain) December 5, 2025

Community Sentiment Shows Fear — With Pockets of Optimism

Traders on social platforms debated whether the move was natural or manipulated. Market analysts largely blamed excess leverage, thin liquidity, and macro-hedging rather than coordinated price intervention. 

Others pointed to long-term optimism, citing JPMorgan’s fresh $170,000 price model for 2026.

Bitcoin now trades near a critical pivot. Liquidation clusters between $90K and $86K leave the market vulnerable without renewed ETF inflows or easing macro pressure. 

A move back above $96,000–$106,000 is needed to confirm recovery momentum.

For now, volatility rules the tape. Bitcoin has fallen, rebounded, and broken again — and traders are watching for the next decisive move.

The post Why Did Bitcoin Drop Below $90,000 Again? A Breakdown of the Latest Sell-Off appeared first on BeInCrypto.

DeFi landscape has been marked by impressive growth, yet persistent volatility remains a defining feature as 2025 draws to a close. The ecosystem hit a record $237 billion in total value locked (TLV) in Q3 2025, but the exuberance was short-lived. By late November, the total TVL had contracted by $55 billion, falling to $123 billion.

Despite these sharp fluctuations, DeFi participation has not only held steady but has gone way up. Over 14.2 million wallets were engaged in the ecosystem this year, and Ethereum continues to capture around 63% of all DeFi activity.

This high level of participation can be seen as a testament to DeFi’s potential. However, according to some experts, the volatility has exposed a fundamental challenge: the constant need to react to market conditions, placing success out of reach for most users.

Users have been expected to continuously monitor liquidity ranges, adjust positions, and navigate shifting arbitrage opportunities. This has created a paradox where, despite the claim that money grows on its own, DeFi participants are actually burdened with time-consuming, manual tasks to optimize their returns.

One example of this view is Ron Bodkin, a former Google executive who now leads the team for AI Agent Protocol Theoriq. Bodkin claims that he has watched the burden on everyday users increase as DeFi has scaled.

“Most people came to DeFi hoping their money would work for them,” Bodkin says.

“But somehow it turned into them working for their money: checking charts at midnight, adjusting ranges in between meetings. It’s kind of backwards and wears users down.”

According to Bodkin, real passivity won’t come from asking users to do even more but from rethinking how yield is managed altogether. This sounds less like the yield-chasing days of past cycles and more like a search for tools that don’t depend on users being glued to their wallets.

Bringing AI Into DeFi Without the Black Box Problem

Theoriq’s new protocol, AlphaVault, fits into a broader shift toward more autonomous forms of DeFi management. In the past year, more projects have started experimenting with the overlap between DeFi and AI (sometimes called DeFAI), using agents to help automate routine decisions and keep up with fast-moving markets.

It’s the kind of experimentation that has slowly moved from hackathon curiosity to something protocol teams now discuss as part of long-term roadmaps. Bodkin adds: 

“We’re seeing more interest in AI across DeFi, but the real challenge is making sure people can understand and trust what those agents are doing. Transparency has to grow alongside automation, or none of this scales the way people hope.”

AlphaVault  is among the DeFi vaults experimenting with using specialized AI agents to manage user capital directly. Instead of relying on simple, rule-based compounding tools, it uses a multi-agent system built to adjust to changing market conditions. This setup was tested under real pressure during Theoriq’s testnet, which processed more than 65 million agent requests across 2.1 million wallets.

According to the team, one of the key differences with it and other AI Agent protocols is how it handles transparency and safety. Earlier attempts were often criticized for hiding how decisions were made.

AlphaVault approaches this with “policy cages”, which are smart-contract rules that define exactly what an agent is allowed to do, from asset types to position sizes. These boundaries are meant to give users a clearer sense of how the system operates and reduce the risks seen in earlier AI experiments.

At launch, AlphaVault is integrating with established, trusted partners in the Ethereum yield space. These include Lido’s stRATEGY vault, curated by Mellow Protocol, and Chorus One’s MEV Max, powered by StakeWise.

These partnerships allow AlphaVault to allocate capital into established Ethereum yield strategies that have been used across the ecosystem. The idea is to give users a way to earn returns without constantly checking or adjusting their positions, though how well this works in practice will depend on the system’s long-term performance.

Bootstrapping Liquidity the Way Many DeFi Projects Now Do

Across DeFi, early participation programs have become a common way for projects to build liquidity and establish an initial base of total value locked (TVL), giving new systems room to operate under real conditions. AlphaVault is taking a similar route.

To get the vault started, Theoriq has launched an incentivized bootstrapping phase where the community can lock ETH and earn points that convert into $THQ rewards. As this phase progresses, TVL gradually moves from being locked capital to live capital managed inside AlphaVault by its autonomous agents.

It’s a familiar pattern in DeFi, but in this case the capital doesn’t just sit but becomes fuel for a system designed to operate with minimal manual oversight, the team claims.

Where things get more interesting is in how $THQ is meant to function going forward. Instead of serving only as an incentive, Theoriq plans for it to become a reputation token that lets users stake behind AI agents they believe are performing well.

If an agent behaves poorly or fails to meet expectations, those stakes can be partially slashed. This mechanism aims to keep quality high and discourage reckless behavior.

This approach reflects a broader industry effort to bring more accountability into automated systems. Rather than relying on marketing claims or opaque performance reports, the idea is to let reputation form directly around how these agents behave over time.

In theory, that creates a system where trust isn’t based on personalities or promises, but on visible, on-chain performance, and where the community has a direct role in shaping which AI agents earn more responsibility. 

Where DeFi Goes After the Yield-Chasing Era

Theoriq hopes to shift the industry conversation away from chasing bigger APYs and toward reducing the amount of work users are expected to do. It is designed based on the idea that developers are looking for ways to offload the constant monitoring, rebalancing, and decision-making that most people still carry out manually.

The goal isn’t to remove users from the process, but to build tools that take care of the routine, time-sensitive parts of on-chain management so people don’t have to treat DeFi like a side job.

According to the team, there’s a growing interest among users in systems that can operate more consistently in the background, reacting to market conditions without requiring them to intervene every few hours. This type of automation is increasingly seen as a natural next step for a sector that wants to mature, scale, and bring in a broader audience.

It’s within this wider push for more dependable, transparent on-chain automation that Theoriq and its AlphaVault system may make sense. Whether AI-managed vaults become standard or remain early experiments is still an open question, but the direction of the industry makes their arrival feel far from accidental.

The post What 2025 Proved About Passive DeFi and Why AI Agent Systems Like Theoriq’s AlphaVault Are the Next Step appeared first on BeInCrypto.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee as global markets quietly shift with Japan’s bond yields surging and the BoJ hinting at a rate hike. The decades-long yen carry trade, which fueled stocks, crypto, and risk assets, could be unraveling faster than anyone expects.

Crypto News of the Day: Bitcoin Braces as BoJ May End Decades of Cheap Money

Global markets are bracing for a potential macro shock as the Bank of Japan (BoJ) prepares for its December 18–19 monetary policy meeting.

Traders now price a 90% chance of a 25 basis point rate hike, following signals from BoJ Governor Kazuo Ueda and persistent inflation above 2%.

Japan’s 2-year government bond yield has climbed above 1%, its highest since the 2008 Global Financial Crisis, while the 10-year JGB hit a 17-year high, highlighting rising borrowing costs.

Why the Yen Carry Trade Matters

For nearly three decades, the yen carry trade fueled global risk-taking. Investors borrowed yen at ultra-low rates, converted it to dollars, and deployed capital into higher-yielding assets, including US stocks, bonds, and cryptocurrencies like Bitcoin.

When Japan raises rates or the yen strengthens, this trade unwinds violently, forcing rapid asset sales.

The consequences are not hypothetical: in August 2024, a BoJ hike triggered a $600 billion crypto market wipe, including Bitcoin falling to $49,000 and $1.14 billion in liquidations. Analysts warn that a similar scenario could repeat if Japanese yields rise further.

🚨 The BOJ is about to shake crypto markets
🇯🇵Japan's likely rate hike to 80% Dec 18-19 – this threatens the yen carry trade that's been funding $BTC & risk assets for years
Last time they hiked was Aug 2024.

🔥BTC crashed to $49K
$600B wiped from crypto
$1.14B in liquidations…

— PaulBarron (@paulbarron) December 5, 2025

Besides Paul Barron, analyst Great Martis also calls the BoJ hike a potential “canary in the coal mine” for crypto and global markets.

“When the reckless BOJ is forced to raise rates, the yen carry trade will begin to unwind, causing market turmoil. Canary in the coal mine,” Martis wrote in a post.

Meanwhile, early signs of stress are emerging, as hedge funds and institutional investors closely monitor the simultaneous tightening of liquidity in Japan, the US, and China. This rare convergence could accelerate deleveraging.

Nonetheless, counterpoints exist. Analyst Negentropic notes that most leverage has already been flushed since October. In the same tone, Bob Elliot argues the yen carry trade is largely muted.

The Yen Carry Trade Is Dead

Despite a falling FX and low rates, the yen carry trade remains muted. Naked FX borrowing ended with the GFC, with the only thing left a lingering nostalgia for a trade that mattered 20yrs ago.https://t.co/1h7Zlp3KVQ pic.twitter.com/2llIZerTqt

— Bob Elliott (@BobEUnlimited) December 2, 2025

Yet even modest unwinding could pressure highly leveraged crypto positions and risk assets globally.

If QE Is Not the Immediate Solution, What’s Next for Bitcoin and Global Risk Assets?

Nic Puckrin, co-founder of Coin Bureau, emphasizes that quantitative easing (QE) historically follows a crisis, not routine rate adjustments.

The current tightening in Japan, the US, and China suggests that markets may face further drawdowns before any liquidity support arrives. Investors betting on easy money could face sharper-than-expected volatility.

Crypto markets are often the first to absorb funding shocks, making Bitcoin and Ethereum bellwethers for liquidity stress.

With the BoJ’s rate decision looming, traders should monitor:

• JGB yields,
• USD/JPY levels, and
• Leveraged positions.

If Japan continues tightening, global deleveraging could persist into 2026, testing the resilience of both crypto and traditional markets.

The era of free Japanese money appears to be coming to an end. Markets now face a higher-volatility environment, where fundamental value may replace cheap leverage as the main driver of asset prices.

Chart of the Day

Byte-Sized Alpha

Here’s a summary of more US crypto news to follow today:

• Why XRP price refuses to rise despite Ripple’s mega moves.
• Polymarket trader makes $1 million on Google search bets, sparking insider trading fears.
• Bitcoin exchange supply nears 5-year low after $2 billion buy this week.
• IMF warns stablecoins pose financial stability risks as cross-border flows surpass Bitcoin and Ethereum.
• Four reasons December could be the best time to start DCA into altcoins.
• Wolfe Research identifies ‘maximum disagreement’ as key Bitcoin market signal: What this means.
• Yi He to women: “No one goes easy on you in business.”

Crypto Equities Pre-Market Overview

Company
Strategy (MSTR)	$186.01	$184.62 (-0.75%)
Coinbase (COIN)	$274.05	$273.30 (-0.27%)
Galaxy Digital Holdings (GLXY)	$27.57	$27.73 (+0.58%)
MARA Holdings (MARA)	$12.44	$12.37 (-0.57%)
Riot Platforms (RIOT)	$15.59	$15.57 (-0.13%)
Core Scientific (CORZ)	$17.08	$17.09 (+0.059%)

The post Yen Carry Trade Collision: Bank of Japan’s Rate Shock Aims at Bitcoin | US Crypto News appeared first on BeInCrypto.

XRP is struggling to recover as its price action continues to mirror Bitcoin’s weakness. The altcoin has failed to establish momentum over the last few days, pushing it closer to the critical $2.00 threshold. 

This correlation-driven decline has kept XRP from reclaiming key levels, raising concern among holders.

XRP Investors’ Losses Rise

The Net Unrealized Profit/Loss (NUPL) indicator highlights the growing pressure on XRP. NUPL recently slipped from the mildly bearish zone to below 0.25, entering the Fear zone for the first time in over a year. This signals that unrealized profits have significantly eroded, leaving many holders at or near losses.

This dip in sentiment may also act as a reversal trigger. Historically, NUPL falling into Fear has preceded periods of accumulation, as prices reach psychologically appealing levels. If investors interpret current conditions as oversold territory, XRP may benefit from renewed buy-side interest.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

XRP is also witnessing important macro shifts. The Squeeze Momentum Indicator shows a tightening squeeze that has been developing for nearly a month. A squeeze reflects a period of low volatility as pressure builds within the price structure, often leading to a strong directional breakout once it releases.

At present, the indicator suggests a potential tilt toward bullish momentum. If the squeeze resolves upward, XRP could experience a sharp volatility expansion, giving the asset the boost it needs to escape its recent stagnation.

XRP Price Needs To Escape

XRP is trading at $2.06 after two failed attempts to break the $2.20 resistance this week. The altcoin is now drifting toward the familiar $2.02 support level, which previously acted as a strong rebound point.

If XRP sees renewed investor confidence and a bounce from $2.02, the price could climb back to $2.20. A successful breakout above this resistance may open the door to $2.26, supported by the potential volatility surge indicated by the squeeze.

However, a breakdown remains a risk. Losing the $2.02 support would place $2.00 in immediate danger. A fall below that threshold could push XRP toward $1.94 or even $1.85, invalidating the bullish outlook and signaling deeper correction potential.

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As on-chain derivatives continue to expand at record pace, the perpetual DEX sector has entered a phase of intensifying competition. This environment is characterized by record volumes, growing demand for market depth, and heightened user sensitivity toward fees. Against this backdrop, SunX officially launched its “Trade to Earn” campaign. Leveraging an innovative and highly compelling negative-fee incentive, the event has triggered a surge in activity across the ecosystem.

Explosive Growth: Users Flock to Zero-Cost Trading

According to operational data released by SunX, as of 09:00 on December 2 (UTC), the event has driven over 410 million USDT in cumulative trading volume within just a few days of launch. In a market where competition among perpetual DEXs is reaching new highs, the figure underscores both traders’ strong appetite for low-cost trading on-chain and SunX’s accelerating momentum in liquidity capture and user engagement.

The incentive results have also drawn strong attention. Since the event launch, SunX has distributed 3,939,056 $SUN as rewards (valued at approximately 82,484 USDT), while simultaneously helping users save 76,853 USDT in trading fees. For traders primarily engaged in high-frequency trading and strategy trading, the negative-fee model dramatically improves both their cost efficiency and engagement.

Fixing Pain Point of Trading Fees: Maker and Taker Subsidies

Gas costs and trading fees have long been the primary barriers limiting high-frequency traders on on-chain derivatives platforms. SunX is addressing this head-on by transforming trading costs into tangible, immediately realizable returns through a mining-driven incentive mechanism that naturally fosters market depth and liquidity.

According to the event, participants who trade perpetual futures in BTCUSDT, ETHUSDT, and SUNUSDT will receive a full rebate of all their trading fees, plus additional rewards in $SUN token.

●      Maker rewards reach 110%, driving deeper order books

●      Taker rewards climb to 107%, lifting turnover and overall market vitality.

To ensure fairness and sustainability, the campaign introduces a 500 USDT equivalent hourly reward cap per user, a 90,000 USDT daily prize pool, and a total prize pool of 1,350,000 USDT. In effect, the “trading is earning” model converts every trading fee on the platform into an instant gain.

Deflationary Engine: Fee Revenue Fully Used for Buyback and Burn

Despite distributing substantial rewards, SunX has also reinforced its long-term economic architecture for the $SUN token.

The platform confirms that all fee revenue generated from registered participants will be used entirely for $SUN buybacks and burns scheduled at the end of each quarter.

The buyback-and-burn model channels the campaign’s surging trading volume directly into a real purchasing engine for $SUN. This supports the token’s long-term appreciation while aligning incentives among traders, token holders, and the platform itself.

Final Stretch: Campaign Ends December 6

The first phase of the “Trade to Earn” campaign is now in its final stage and will officially conclude at 12:00 on December 6, 2025 (UTC).

With perpetual DEX trading volumes reaching all-time highs, SunX’s negative-fee subsidies have emerged as one of the most cost-effective and liquidity-rich opportunities available to on-chain traders. For investors seeking deep liquidity and low slippage, the current remains an advantageous moment to participate before incentives expire.

About SunX

SunX is the TRON ecosystem’s first native decentralized perpetual futures exchange. It aims to integrate the smooth experience and security of centralized exchanges with the asset sovereignty of decentralized finance to build a new generation of on-chain derivatives infrastructure. With core advantages including the lowest fees, 0 gas trading, secure on-chain custody, high-performance matching, full-chain liquidity integration, and intelligent risk management, the platform is committed to providing fair, efficient, and free DeFi derivatives trading services to global users.

As a strategic pivot for TRON’s evolution of its on-chain financial system, SunX is leading a profound financial paradigm shift, propelling the crypto market toward genuine inclusivity and openness.

For more information about SunX, please visit www.sunx.io

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VerifiedX (VFX) network, the people’s network and a decentralized global leader in self-custody and Web3 wallet financial infrastructure powering institutional and consumer-grade blockchain utility and Blockdaemon a leading U.S.- headquartered institutional-grade crypto infrastructure company, today announced a major first-mover strategic partnership. Together, Blockdaemon and VerifiedX will now deliver a new era of accessible, scalable, and secure decentralized finance (DeFi) for everyday users around the world.

This collaboration integrates Blockdaemon’s battle-tested institutional tooling directly into VerifiedX’s products, including the VFX SwitchBlade Wallet and the Butterfly social payment platform, giving consumers seamless access to rewards, borrowing, lending, and other advanced DeFi capabilities, without the complexity of traditional Web3 interfaces or custody requirements.

Democratizing Blockchain Finance for All

Through this partnership, VerifiedX and Blockdaemon will empower users to save, spend, pay, earn rewards, and access credit in an intuitive, compliant, and fully self-custodial way.

Key benefits include:

• Institutional-Grade DeFi for Consumers

Blockdaemon’s staking, node, and liquidity infrastructure, which is utilized by banks, exchanges, and asset managers, will now be embedded directly into VerifiedX’s user-facing apps. Users gain access to the same professional-grade tools previously reserved for institutions.

• Seamless Reward Generation

Users will be able to generate rewards on Bitcoin, stablecoins, and other supported assets directly within SwitchBlade and Butterfly, with one-tap actions that abstract away technical complexity.

 Borrowing and Lending Made Effortless

• VerifiedX will unlock decentralized borrowing and lending rails, letting consumers borrow against their assets and access on-chain credit markets using simplified, consumer-friendly interfaces powered by Blockdaemon’s backend.

• Self-Custodial, Frictionless Access

All features remain fully self-custodial and on-chain, where users retain ownership of their assets while benefiting from VerifiedX’s universal settlement layer and simple UX, and Blockdaemon’s infrastructure.

•  A Unified Financial Experience

These DeFi capabilities will live inside both the VFX SwitchBlade wallet and the Butterfly social payment app, allowing users to save and earn rewards, send money globally in seconds, pay merchants or friends, borrow or lend, and hold crypto or stablecoins.

• Move between fiat and digital assets
  All with a username and password, without managing private keys, seed phrases, or complex DeFi dashboards.

A Partnership Built to Scale

The collaboration is designed to grow into emerging areas of blockchain finance as VerifiedX and Blockdaemon continue to innovate. The roadmap includes:

• New staking and reward generating markets powered by Blockdaemon’s node network
• Cross-chain liquidity tools optimized for mainstream users
• Expanded institutional access so banks, fintechs, and enterprises can integrate VerifiedX rails backed by Blockdaemon’s compliance and infrastructure
• Advanced on-chain financial products, including tokenized assets and high-security settlement rails
• Global scaling, enabling VerifiedX to serve millions of users with Blockdaemon’s cloud-native, globally distributed architecture

Both ecosystems see this as the beginning of a long-term technical and strategic alignment, with ongoing integration points across wallets, payments, social apps, and decentralized finance.

The VerifiedX Foundation, said:

“Our pursuit was always to make blockchain finance simple, self-custodial, safe, accessible, and usable for everyone. Partnering with Blockdaemon brings institutional-grade infrastructure directly into the hands of everyday people with zero friction. Together we are redefining how users save, earn, borrow, and pay—without intermediaries, complexity, or barriers.”

“Our infrastructure has long served institutions that demand precision and reliability. Integrating it into VerifiedX now offers that same standard to consumers, making decentralized finance both safer and more accessible without compromising on performance or compliance,” said Demetrios Skalkotos, Chief DeFi and Protocols Officer at Blockdaemon.

About VerifiedX

VerifiedX – VFX (VerifiedX.IO) is the people’s network, a next-generation decentralized protocol that is both a universal layer 1 and a Bitcoin specific reliever chain, focused on trust, transparency, freedom, independence, and deflationary economics. Through products like SwitchBlade and the Butterfly social payment platform, VerifiedX makes saving, spending, storing, tokenizing,  earning yield, and accessing credit simple and user-first—all while remaining completely self-custodial empowering everyone to be their own bank.

Learn more at VerifiedX.io

About Blockdaemon

Blockdaemon is the institutional gateway to Web3, securing over $110B in digital assets for 400+ institutions, including exchanges, custodians, crypto platforms, and financial enterprises. Blockdaemon offers institutional-grade blockchain infrastructure spanning nodes, APIs, staking, MPC wallets and vaults. Since 2017, its globally distributed infrastructure ensures unrivaled security, compliance, and scalability.

For more information visit: www.blockdaemon.com

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Victoria, Seychelles, December 5, 2025 — Bitget, the world’s largest Universal Exchange (UEX), today announced a major upgrade to GetAgent, its AI-powered trading assistant. The update introduces a more flexible answering engine, a streamlined user interface, and a significant expansion of membership quotas, making advanced AI trading tools more accessible than ever to users across all tiers.

GetAgent, launched earlier this year, has become a key part of Bitget’s trading experience, helping tens of thousands of users simplify analysis and execution. The centerpiece of this upgrade is the improved answer system. GetAgent now intelligently detects what a user is asking—whether they want a quick insight or a comprehensive analysis— and adjusts its response automatically. For fast requests, the assistant provides a concise, actionable answer. 

When deeper context is needed, traders can activate Research Mode with one tap, generating a full multi-dimensional analysis that includes technical signals, risk considerations, on-chain data, and market structure.

Member Tier	Before	After
	Daily Query Quota	Daily Query Quota	Additional Research Quota
Basic	0	20	10
Plus	10	100	50
Ultra	50	Unlimited	Unlimited

To complement the upgrade, Bitget has significantly increased usage quotas for all GetAgent membership levels. All users now have broader access to daily queries, research outputs, and analytical tools—even at the free Basic tier. Mid-tier members receive 10-times more daily limits than before, while premium tiers now enjoy unlimited or near-unlimited access to GetAgent’s full intelligence capabilities.

Also, Bitget has redesigned the GetAgent interface for clarity and ease of use. The improved UI offers smoother navigation, a more intuitive chat layout, and streamlined access to research reports, trade previews, and position insights.

“AI trading is entering a new phase, and GetAgent is leading that shift. By combining real-time intelligence, natural-language research, and fully integrated execution, we are redefining what an exchange can offer. This upgrade pushes us closer to a future where every trader has an AI companion capable of supporting their entire decision-making process,”said Gracy Chen, CEO of Bitget.

Alongside the upgrade, Bitget recently introduced AI trading camp—specialized agents running live strategies with transparent performance. They offer users a lightweight way to explore different trading styles and compare real-time behavior across models, further showcasing the practical potential of GetAgent’s AI capabilities.

About Bitget

Established in 2018, Bitget is the world’s largest Universal Exchange (UEX), serving over 120 million users with access to millions of crypto tokens, tokenized stocks, ETFs, and other real-world assets, while offering real-time access to Bitcoin price, Ethereum price, XRP price and other cryptocurrency prices, all on a single platform. The ecosystem is committed to helping users trade smarter with its AI-powered trading tools, interoperability across tokens on Bitcoin, Ethereum, Solana, and BNB Chain, and wider access to real-world assets. On the decentralized side, Bitget Wallet is an everyday finance app built to make crypto simple, secure, and part of everyday finance. Serving over 80 million users, it bridges blockchain rails with real-world finance, offering an all-in-one platform to on/off ramp, trade, earn, and pay seamlessly.

Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: [email protected]

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

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