玉泽

Strategy has purchased 10,624 #BITCOIN, worth 962.7 million USD

See the Bitcoin holdings data overview of MicroStrategy at a glance

A piece of news that is completely opposite to the recent crackdown on cryptocurrency in the country is that

Binance has received full authorization from the Financial Services Regulatory Authority of Abu Dhabi Global Market.

This license makes Binance the first global exchange to meet traditional financial standards.

In recent years, certain village and town banks in the country have faced crises, along with the recent crisis in the real estate sector and the one in Zhejiang.

As the country's "threefold risks" (banks, real estate, shadow banking) continue to be exposed,

and with the decreasing attractiveness of RMB assets, the trend of capital outflow will shift from "speculative outflow" to "long-term allocation outflow."

Therefore, the attitude towards "stablecoins" that can facilitate capital transfer is naturally self-evident.

So the question arises: should we first address the internal crisis of corruption and trust, or should we first tackle the external sweet-coated bullets🤡?

The top 100 companies in the world now hold Bitcoin worth $94.8 billion

With a total of 1,059,453 coins, accounting for 5.045% of the total supply of 21 million

Whether it's trading or doing business, once you encounter those people who constantly affect your mindset and argue with you every day, you must resolutely cut your losses and run away.

Whether it's a woman, a friend, or a business partner, these people will only harm you.

No matter what a person does to become wealthy, they must have a very good spirit, a very good mindset, and very good emotions to be able to settle down and make money.

After all, only when people are unlucky will it be like this; the reason for misfortune is encountering these people or living in these places.

Feng shui and luck are very mysterious things; this is my personal experience.

These people come to collect debts from their past lives, whether it's karma or grievances; one life, two fortunes, three feng shui.

There is absolutely no smoke without fire; remember this.

"If I had invested 100 dollars in Bitcoin in 2010, I would have 2.8 billion dollars now."

Look at the actual journey

If you had bought 100 dollars worth of Bitcoin in 2010, watching it become:

1 thousand dollars → 100 thousand dollars → 1.7 million dollars

and did nothing

then watching 1.7 million dollars drop to 170 thousand dollars

and still did nothing

then watching 170 thousand dollars rise to 110 million dollars

and still did nothing

then watching 110 million dollars shrink to 18 million dollars

and still did nothing

then watching 18 million dollars soar to 390 million dollars

and still did nothing

then watching 390 million dollars drop to 85 million dollars

then watching 85 million dollars rise to 1.6 billion dollars

and still did nothing

then watching 1.6 billion dollars shrink to 390 million dollars

and still did nothing

then watching 390 million dollars soar to 2.8 billion dollars

and then for some reason finally decided to sell...

So, the 100 dollars from 2010 is indeed worth 2.8 billion dollars today.

Ethereum (ETH) is flowing out of exchanges faster than Bitcoin (BTC)

Currently, only 8.84% of Ethereum is still held on exchanges, which is only half of Bitcoin's 14.8%.

When will the price of ETH take off?

The Potential Impact of Domestic Crackdown on Cryptocurrency

Devastating Blow to the "Pi Coin" (Pi Network) Community:

Pi Coin has a large user base of middle-aged and older individuals, which has previously existed in a gray area.

The authorities have explicitly defined it as a "shitcoin" and a "pyramid scheme," implying that law enforcement may target various Pi Coin promotion teams and offline studios for centralized cleanups and arrests.

The OTC (Over-the-Counter) Environment Further Deteriorates:

The document once again emphasizes the risks of "stablecoins" in money laundering and reiterates the illegality of exchanging fiat currency for virtual currency.

Combined with the recent crackdown on underground banks, the survival space for OTC merchants will be further compressed, and the freeze on cards may intensify.

Legal Risks for KOLs and Promotion Teams Surge:

The document clearly states that it will hold accountable agencies and individuals that "provide marketing and promotional" services.

This means that domestic cryptocurrency KOLs and self-media that continue to promote overseas projects may face legal sanctions (such as aiding and abetting crimes).

SpaceX strikes again: transferring 100 million dollars in Bitcoin

The funds were transferred from a wallet associated with SpaceX, although the final destination has not yet been fully confirmed on the blockchain.

However, previous transfer records show that SpaceX frequently allocates funds between the custody services of Coinbase Prime.

As of now, SpaceX still holds approximately 5,012 BTC in its identified addresses.

Based on current prices, the value of this remaining asset is approximately 457.8 million dollars.

In the past few days, the phrase 'USDT exchange into criminal offense' has caused panic among some people.

The title contains exaggeration (clickbait): the marketing title 'USDT exchange into criminal offense' is a simplified summary.

Such a statement can easily lead to misunderstanding that 'as long as you exchange USDT, it constitutes a crime'.

But in reality, the law targets specific 'illegal business' activities, not all USDT transactions.

This ruling is aimed at behaviors that use virtual currency as a medium to conduct 'disguised foreign exchange trading'.

The specific operation model is: receive RMB -> convert to USDT -> cash out to foreign currency (or reverse operation), thus achieving cross-border capital transfer.

Today's Market Analysis

Thailand announces the beginning of the cryptocurrency '0 tax' era

The Thai Ministry of Finance has announced a tax incentive policy: a 0% capital gains tax on cryptocurrency gains.

This new policy will officially take effect on January 1, 2025, and will continue until 2029.

Tax-exempt objects: Covering Bitcoin, Ethereum, and other digital assets traded on licensed local platforms in Thailand.

Applicable scope: Whether local investors or international investors, as long as they trade through compliant channels, their profits will be completely exempt from capital gains tax.

DeFi security suffers heavy losses

In November 2025, frequent hacker attacks led to a nearly 1000% (10-fold) increase in loss amounts compared to the previous month. The main attack methods shifted from phishing to more fundamental vulnerabilities in smart contract code.

The total losses caused by the hacker attacks in November amounted to approximately $172 million (Gross Losses), with some reports indicating that the DeFi sector lost $127 million due to code vulnerabilities.

Loss classification (by cause):

1. Code Vulnerability: approximately $139 million (the highest proportion, replacing phishing as the primary attack vector).

2. Wallet Compromise: approximately $33 million.

3. Phishing: approximately $5.8 million.

2. Major Victim Projects

This wave of attacks mainly targeted well-known DeFi protocols and exchanges:

Balancer: the largest loss, reaching $113 million.
Subsequent developments: StakeWise successfully recovered $20.7 million from the Balancer exploiters and plans to repay users proportionally.

Upbit: losses of approximately $29.8 million.

Bex: losses of approximately $12.4 million.

Yearn Finance: losses of approximately $9.1 million (hackers exploited the smart contract to mint nearly unlimited yETH tokens).

Other victim projects: Beets, Gana Payment, Moonwell, etc.

The masterminds and money laundering methods

North Korean hacker group: Government-funded North Korean hackers stole a large portion of the funds stolen in November.

Money laundering path: Complex attack methods combined with cryptocurrency mixers (such as Tornado Cash) are the main channels for fund outflows.

The rapid iteration of AI has made the cost of generating fake images increasingly low.

In the future, whether it's for donations or for sharing experiences, using such images will be hard to convince others.

In the future, if you want to share your experience, please show your real trading account.

Of course, some people will inevitably use this as a method of screening, after all, it's too easy to scam someone who is trying to get involved.

If you have been scammed like this, the only advice I can give you is to leave the market as soon as possible.

Has it only been 1 month?

Why do I feel like I've spent 10 years 🤡

Why do young people "gamble" on cryptocurrencies? More often it's due to a lack of options.

Today, I reviewed a research report indicating that young Americans are rushing into the crypto market, not out of belief in decentralized technology, but out of "desperation" from seeing no opportunities.

Today's youth are very poor and feel compelled to invest in cryptocurrencies.

Housing prices are becoming the last straw that breaks this generation's back.

🔍 The report reveals the current situation:

1. Housing prices are the root of despair. From 1984 to 2022, the housing price-to-income ratio skyrocketed. When young people realize they can never afford a house on their salary,

their behavior patterns undergo a permanent change — they become "Discouraged Renters."

2. Cryptocurrencies are an alternative to the "American Dream." For those with a net worth between $50,000 and $300,000 (too poor to buy a house and ineligible for assistance), cryptocurrencies have become the "Last Resort."

They no longer save money because saving is futile; they choose high-risk gambles, attempting to achieve class mobility through highly volatile assets.

3. Global "lying flat" and "all-in" This is not just an issue in the United States.

South Korea's "Three Throwaway Generation" (giving up dating, marriage, and having children)

Japan's "Satori Generation" (giving up material ambitions)

are all flooding into the crypto circle.

📉 The report even points out: these desperate renters have begun to extol "Quiet Quitting," believing that "working hard is no longer important."

When hard work becomes a lie, gambling becomes the only rational choice.

The U.S. House of Representatives officially released a report

that exposes how President Trump and his family turned the presidency into a personal profit-making business through cryptocurrency schemes, raking in billions of dollars

The report points out that the Trump administration adopted a lenient policy towards the cryptocurrency industry and facilitated family interests by appointing pro-cryptocurrency senior officials

and suspending or withdrawing multiple investigations into cryptocurrency companies and executives.

For example, World Liberty Financial, invested in by the Trump family,

raised hundreds of millions of dollars through token sales, which brought significant wealth to the Trump family.

The Trump family has close ties to several cryptocurrency companies,

including Crypto.com, Ripple, and Kraken, which not only donated large sums to Trump’s campaign but also gained substantial benefits after the Trump administration relaxed its policies and regulations.

For instance, after partnering with Trump Media Group (TMTG), the SEC quickly closed its investigation into Crypto.com.

The People's Bank of China held a meeting on "Coordinating Mechanism for Combating Speculation in Virtual Currency Transactions" on November 28, 2025.

It reiterated that virtual currencies do not have the status of legal tender and do not possess the same legal attributes as legal tender, and should not and must not be circulated as currency in the market.

The meeting pointed out that recent activities related to virtual currencies have shown a lively trend, and some trading speculation poses risks to financial order.

There is a need to further strengthen regulatory coordination to prevent potential harm from illegal activities such as money laundering and fundraising fraud through virtual currencies.

The People's Bank emphasized:

Virtual currencies are not legal tender, do not have the ability to repay debts, and must not be used for market payments.

Stablecoins also fall under the category of virtual currencies and currently find it difficult to meet requirements for customer identification, anti-money laundering, and other regulations.

The cross-border flow of virtual assets carries high risks and may be used to evade regulation or illegally transfer funds.

However, the domestic market's dominant position in trends has been on a downward trend, and the market has not experienced significant fluctuations at present.

Playing with encryption for 10 years status ​​​

Thailand has ordered the suspension of Worldcoin's iris scanning operations and requires the official destruction of 1.2 million biometric data records.

The Thailand Personal Data Protection Committee (PDPC) officially requested on November 24 that the biometric ID project Worldcoin, supported by Sam Altman, suspend all iris scanning operations and immediately delete approximately 1.2 million iris and biometric records collected in Thailand. The authorities stated that the project "failed to obtain proper consent" and "incorrectly stored sensitive data," violating local data protection regulations.

📍 Regulatory highlights: Lack of legal consent, non-compliant storage methods.

The Thailand PDPC pointed out in the announcement that Worldcoin collects users' biometric information through "iris scanning orbs," but:

- Did not provide users with sufficiently clear authorization explanations.

- Did not implement standard storage and protection measures for sensitive data.

- Some operational processes are not transparent, potentially leading to abuse or leakage risks.

The regulatory agency determined that Worldcoin's collection methods violate Thailand's Personal Data Protection Act and therefore ordered the project to:

- Immediately cease all iris scanning (Orb) operations.

- Delete all biometric data collected within Thailand.

- Accept further investigations and compliance reviews.

Korea's largest cryptocurrency exchange Upbit was hacked, resulting in the theft of 54 billion won; the official promise to bear all user losses

On November 27, 2025, Korea's largest cryptocurrency trading platform Upbit disclosed a major security incident. According to the official announcement, the platform detected abnormal withdrawal behavior at 4:42 AM and subsequently confirmed that approximately 54 billion won (about 36 million USD) of Solana ecosystem-related assets were transferred to an unknown external wallet.

Oh Kyung-seok, CEO of Dunamu, the company to which Upbit belongs, subsequently issued an English announcement apologizing to users for the interruption of withdrawal/recharge services caused by this incident, and emphasized—

The platform will bear all customer losses and will not pass the risk onto users.

🔍【Event Details】Abnormal transfers appeared on the chain in the early hours, immediately triggering the system alarm

Upbit stated that the incident occurred during the withdrawal process of assets associated with the Solana network, and the system immediately initiated emergency measures after detecting abnormal withdrawal operations:

Emergency suspension of recharge and withdrawal of related assets

Trace analysis of the attack path

Supplementing hot wallet funds to ensure user availability

The preliminary loss amount is currently confirmed to be approximately 54 billion won, making it one of the largest exchange security incidents in the Asian region in the past year.

📌 The stolen assets involve 30+ types of Solana ecosystem tokens

The list of transferred assets includes but is not limited to:

2Z, ACS, BONK, DOOD, DRIFT, HUMA, IO, JTO, JUP, LAYER, ME, MEW, MOODENG, ORCA, PENGU, PYTH, RAY, RENDER, SOL, SOON, TRUMP, USDC, W, etc.

Among these are many popular Solana ecosystem tokens, including the recently highly active JTO, BONK, ORCA, and PYTH.