Wake up to know the cryptocurrency market, welcome to listen to "Crypto Morning Know". Today is December 4, 2025, Thursday, good morning!

First, let's focus on the macro aspects:

- The market generally believes that the ADP and PMI data released today are unlikely to shake the Federal Reserve's expectations of a rate cut in December.

- The Financial Supervisory Commission of Taiwan stated that Taiwan's first regulated stablecoin is expected to launch as early as the end of 2026.

Next, let's look at market hotspots:

- Yesterday, the net inflow of the US Bitcoin spot ETF was 58.5 million dollars, while the net outflow of the Ethereum spot ETF was 9.9 million dollars. Today's fear and greed index is 22, indicating fear!

- The first grayscale LINK spot ETF in the US was listed, with a net inflow of 37.05 million dollars, operating under a cash subscription and redemption model, with a management fee rate of 0.35%.

- Michael Saylor stated that Strategy currently holds about 60 billion dollars in Bitcoin with low leverage, and mentioned that the US has fully shifted to support crypto assets under Trump's leadership.

Finally, let's look at industry dynamics:

- Binance appointed co-founder He Yi as the new co-CEO, jointly managing the company with Deng Yongji.

- Binance also launched Binance Junior, providing digital financial education and basic usage functions for users aged 5-17.

- WLFI co-founder announced that the project will launch RWA products in January next year, further expanding its layout of real-world assets.

Today's summary:

BTC has regained a foothold at 93,000 dollars. The expectation of a Federal Reserve rate cut in December is heating up, with a potential "dovish" successor to the chair, and the end of quantitative tightening, increasing the probability of breaking the 100,000 dollar mark next week!

I am the host Mark, this is "Crypto Morning Know", see you tomorrow!