Today's top news highlights: 1. Macroeconomic Outlook for Next Week: The probability of a December rate cut has surged to 73%, and Powell's "stand-in" is closely monitoring the Beige Book. 2. Strategy: The amount of BTC held, based on recent prices, could meet the dividend needs for 71 years. 3. Tom Lee: Strategy, holding 650,000 Bitcoins, has become the preferred hedging strategy in the market. 4. Port3 Network suffered a 77.4% plunge in 24 hours after hackers exploited the BridgeIn vulnerability to issue new tokens. 5. Monad: The MON token sale on Coinbase has ended, with 85,820 participants investing $269 million. 6. A new wallet, suspected to belong to Bitmine or SharpLink, transferred $60.04 million in ETH from FalconX. The 7.1inch team withdrew 6.01 million 1INCH tokens from Binance within 13 hours, worth $1.072 million. Macro Macroeconomic Outlook for Next Week: The probability of a December rate cut has surged to 73%, and Powell's "stand-in" is closely monitoring the Beige Book. The situation in the cryptocurrency market was even worse this week. At the time of writing, Bitcoin was trading around $83,000, down 35% from its all-time high of $126,000, almost completely erasing its gains since April. This week, the "king of crypto" fell 18%, its strongest weekly drop since mid-November 2022. November is expected to record its worst monthly performance since the market correction in June 2022. Here are the key points the market will be focusing on in the coming week: At 23:30 on Monday, the Dallas Fed Business Activity Index for November will be released. At 21:30 on Tuesday, the US September retail sales month-on-month rate and the US September PPI will be released. At 23:00 on Tuesday, the US Conference Board Consumer Confidence Index for November will be released. At 21:30 on Wednesday, the number of initial jobless claims in the United States for the week ending November 22 will be released. For the United States, next week will not be too busy due to the Thanksgiving holiday, which means that data will be concentrated in the first three days of this week. The Trinidad and Tobago Parliament passed a crypto regulatory bill aimed at regulating cryptocurrencies and related service providers. According to Crowdfund Insider, citing local media reports, the Trinidad and Tobago parliament has passed a bill aimed at regulating cryptocurrencies and related service providers. The "Virtual Assets and Virtual Asset Service Providers Act 2025," first introduced by the finance minister in September, establishes a framework for the licensing and regulation of virtual asset activities in the Caribbean nation. The bill, first introduced by the finance minister last September, is closely linked to Trinidad and Tobago's need to meet anti-money laundering and counter-terrorism financing standards ahead of the fifth round of mutual assessments by the Caribbean Financial Action Task Force (CATF), including an on-site review scheduled for March 2026. The Hong Kong Securities and Futures Commission (SFC) has added "AmazingTech" to its list of suspicious virtual asset trading platforms. The Hong Kong Securities and Futures Commission has warned the public to be wary of a virtual asset trading platform called "AmazingTech" and has added it to its list of suspicious virtual asset trading platforms. The platform claims to operate a virtual asset trading platform in Hong Kong and is suspected of engaging in unlicensed activities. Opinion The Coinbase Bitcoin Premium Index has been negative for three consecutive weeks, indicating significant selling pressure in the US market. According to CryptoQuant data, the Coinbase Bitcoin Premium Index has remained negative for three consecutive weeks since it turned negative on October 31. The premium index is positive when the price of Bitcoin on Coinbase is higher than the global average price, and negative otherwise. The current trend indicates that there is significant selling pressure in the US market and investors' risk appetite is declining. Glassnode Co-founder: Bitcoin ETFs continue to generate net profits; cost base remains undamaged. Negentropic, co-founder of Glassnode, published an article on the X platform pointing out that what is happening to Bitcoin now is not a narrative shift, but rather a mechanism-based "buffering." Currently, ETFs are still maintaining net profits, and the cost base has not been damaged. Although some long-term holders are selling, the Solana ETF is experiencing stable inflows, and altcoins are performing better than BTC and ETH. Furthermore, the overall cyclical structure remains intact, with strong demand for ETFs and spot trading, and the macroeconomy generally maintaining a neutral to bullish stance. The market has not surrendered, and the trend has not been broken. When the decline finally exhausts, the rebound may be much larger than the previous drop. Strategy: The BTC holdings, based on recent prices, could meet the dividend needs for 71 years. Bitcoin treasury firm Strategy posted on the X platform that, based on recent prices, its current holdings of approximately 650,000 BTC are sufficient to cover dividends for 71 years. It also noted that if Bitcoin appreciates by about 1.41% annually, the resulting returns would be enough to pay the full year's dividends. However, the community points out that Strategy's data is based on several assumptions, including a stable Bitcoin price, all holdings being available for sale or as collateral for financing, no external shocks or tax impacts, a continuously manageable convertible debt structure, and stable dividend payments. Tom Lee: Strategy, holding 650,000 Bitcoins, has become the preferred hedge in the market. In an interview with CBDC, Bitmine Chairman and CEO Tom Lee stated that due to the limited number of on-chain options, MSTR has become the preferred tool for cryptocurrency investors to manage risk. Institutional cryptocurrency investors used Strategy (MSTR) stock to hedge losses, causing the stock to fall by 43%. Tom Lee believes that Strategy holds a large amount of Bitcoin (650,000 coins), with liquidity far exceeding that of BTC and ETH derivatives. Therefore, when crypto liquidity dries up and market makers suffer losses, institutions are unable to effectively hedge on-chain and can only short MSTR to hedge against losses in Bitcoin and Ethereum. Tom Lee also points out that the market mechanism of cryptocurrencies remains fragile, and Strategy's use as a hedging tool indicates a deeper structural problem. Yi Lihua: I went all in on ETH around $2700, and also hold BNB and ASTER. Liquid Capital founder Jack Yi posted on the X platform, "ETH traded around $2700, and this time I'm fully invested. My overall portfolio has always followed the logic of three major sectors: ETH as the main public chain, with BTC/BCH also allocated. The trading platforms are BNB/Aster. My heavy holding in stablecoins is WLFI, which is equivalent to USD1 in BNB, and USD1 is the only stablecoin with the potential for a leapfrog development. I can't pay attention to too many projects; I'm focusing on the leaders in the three major sectors, and I'll leave the rest to time." Project Updates Port3 Network was hacked, who exploited the BridgeIn vulnerability to issue new tokens, causing Port3's stock to plummet 77.4% in 24 hours. Decentralized AI data network Port3 Network stated on the X platform that a hacker exploited a BridgeIn vulnerability to issue additional tokens. The team has removed liquidity and is prepared to communicate with the hacker. Port3 Network advises users not to trade tokens until the issue is resolved. Market data shows that the PORT3 token has fallen 77.4% in the past 24 hours. Hackers exploited a PORT3 bridging vulnerability to issue 1 billion new tokens and then dump them, while destroying the remaining 837 million tokens. According to on-chain analyst Yu Jin, three hours ago, a hacker exploited a PORT3 bridging vulnerability to mint 1 billion $PORT3 tokens, which were then sold on-chain, causing $PORT3 to drop by 76%. The hacker sold a total of 162.75 million tokens, receiving 199.5 BNB (US$166,000). Subsequently, the PORT3 project removed on-chain liquidity, and some centralized exchanges suspended PORT3 deposits. Unable to continue selling tokens, the hacker destroyed the remaining 837.25 million PORT3 tokens 40 minutes ago. Cardano experienced a brief chain split on Friday due to a vulnerability in its old code; the founder stated that the FBI has launched an investigation. The Cardano network experienced a temporary split on Friday due to a "malformed" delegation transaction. This type of transaction, which delegates ADA to a staking pool, while valid at the protocol level, can lead to code glitches that affect network functionality. According to an incident report released by Intersect, an organization within the Cardano ecosystem, this "malformed" transaction exploited an old code vulnerability in the Cardano blockchain's underlying software library. This vulnerability caused disagreements among nodes regarding how to process the transaction, ultimately leading to a network split. The vulnerability was caused by an ADA staking pool operator named Homer J, who used AI-generated code to drive the transaction and has acknowledged responsibility for the network split. Staking pool operators have been instructed to download the latest version of their node software to fix the issue and reassemble the split chain into a single, complete blockchain. This temporary split has sparked debate within the Cardano community. Some believe Homer J's actions helped expose critical vulnerabilities, while others, such as Cardano founder Charles Hoskinson, claim it was an attack on the Cardano network, and the FBI has launched an investigation. One user quipped, "Nobody noticed the Cardano network partition because nobody was using it." Monad: The MON token sale on Coinbase has ended, with 85,820 participants investing $269 million. Monad announced on the X platform that the MON token sale on Coinbase has ended, with 85,820 participants investing a total of $269 million. The mainnet will launch on Monday. Binance Futures will delist PORT3USDT U-margined perpetual contracts. According to the official announcement, Binance Futures will automatically liquidate the PORT3USDT U-margined perpetual contract at 14:30 (UTC+8) on November 23 , and will delist the aforementioned perpetual contract trading pair after the liquidation is completed. Binance Alpha will list Irys (IRYS) on November 25th. According to the official announcement, Binance Alpha will list Irys (IRYS) on November 25th. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page after trading opens on Alpha. Further details will be announced separately. Binance: Holders of over 256 Alpha Points can claim a 640 Kyuzo's Friends (KO) airdrop. According to the official announcement, Binance Alpha will open trading of Kyuzo's Friends (KO) on November 23, 2025 at 17:00 (UTC+8). Users holding at least 256 Binance Alpha Points can claim an airdrop of 640 KO tokens on a first-come, first-served basis. If the reward pool is not filled, the claim threshold will automatically decrease by 5 points every 5 minutes. Claiming the airdrop will consume 15 Binance Alpha Points. Users must confirm their claim on the Alpha event page within 24 hours, otherwise they will be deemed to have forfeited their claim. Important data The 1inch team withdrew 6.01 million 1INCH tokens from Binance within 13 hours, worth $1.072 million. According to on-chain analyst Ai Yi, in the past 13 hours, 1inch Team Investment Fund withdrew 6.01 million 1INCH from Binance, worth $1.072 million, at an average withdrawal price of $0.1785. Currently, it holds 1INCH worth $16.97 million, but its top holding remains ETH ($26.6 million). This week, NFT transaction volume fell 4.21% to $74.2 million, while the number of sellers surged 106%. CryptoSlam data shows that NFT market transaction volume fell 4.21% to $74.2 million in the past week. The number of NFT buyers increased by 34.03% to 328,255; the number of sellers surged by 106% to 284,166 ; and the number of NFT transactions decreased by 12.67% . Ethereum network transaction volume reached $31.93 million, down 3.81% from the previous week; BNB Chain network transaction volume reached $8.74 million, down 0.01%; Mythos Chain network transaction volume reached $6.96 million, up 5.28%. This week's high-value deals include: CryptoPunks #9816 sold for $174,826.39 (58 ETH). CryptoPunks #3661 sold for $148,102.05 (47 ETH). CryptoPunks #8739 sold for $122,164.40 (39.99 ETH). CryptoPunks #4241 sold for $112,516.20 (35.49 ETH). CryptoPunks #5666 sold for $110,789.94 (34.5 ETH). An address deposited 8,920 ETH into Binance; selling them would result in a loss of $2.12 million. According to on-chain analyst Ai Yi, address 0x29F...335EF deposited 8,920 ETH (approximately $24.85 million) into Binance in the past hour. This ETH was withdrawn from the exchange between March 2024 and February 2025 at an average price of $3,024. Selling it now would result in a loss of $2.12 million. After this deposit, the address's wallet has only 0.04238 ETH remaining, almost completely liquidated. Institutional holdings A new wallet, suspected to belong to Bitmine or SharpLink, transferred $60.04 million worth of ETH from FalconX. According to Onchain Lens monitoring, a newly created wallet received 21,537 ETH from FalconX, worth $60.04 million. This payment may belong to Bitmine or SharpLink, but this has not yet been confirmed.Today's top news highlights: 1. Macroeconomic Outlook for Next Week: The probability of a December rate cut has surged to 73%, and Powell's "stand-in" is closely monitoring the Beige Book. 2. Strategy: The amount of BTC held, based on recent prices, could meet the dividend needs for 71 years. 3. Tom Lee: Strategy, holding 650,000 Bitcoins, has become the preferred hedging strategy in the market. 4. Port3 Network suffered a 77.4% plunge in 24 hours after hackers exploited the BridgeIn vulnerability to issue new tokens. 5. Monad: The MON token sale on Coinbase has ended, with 85,820 participants investing $269 million. 6. A new wallet, suspected to belong to Bitmine or SharpLink, transferred $60.04 million in ETH from FalconX. The 7.1inch team withdrew 6.01 million 1INCH tokens from Binance within 13 hours, worth $1.072 million. Macro Macroeconomic Outlook for Next Week: The probability of a December rate cut has surged to 73%, and Powell's "stand-in" is closely monitoring the Beige Book. The situation in the cryptocurrency market was even worse this week. At the time of writing, Bitcoin was trading around $83,000, down 35% from its all-time high of $126,000, almost completely erasing its gains since April. This week, the "king of crypto" fell 18%, its strongest weekly drop since mid-November 2022. November is expected to record its worst monthly performance since the market correction in June 2022. Here are the key points the market will be focusing on in the coming week: At 23:30 on Monday, the Dallas Fed Business Activity Index for November will be released. At 21:30 on Tuesday, the US September retail sales month-on-month rate and the US September PPI will be released. At 23:00 on Tuesday, the US Conference Board Consumer Confidence Index for November will be released. At 21:30 on Wednesday, the number of initial jobless claims in the United States for the week ending November 22 will be released. For the United States, next week will not be too busy due to the Thanksgiving holiday, which means that data will be concentrated in the first three days of this week. The Trinidad and Tobago Parliament passed a crypto regulatory bill aimed at regulating cryptocurrencies and related service providers. According to Crowdfund Insider, citing local media reports, the Trinidad and Tobago parliament has passed a bill aimed at regulating cryptocurrencies and related service providers. The "Virtual Assets and Virtual Asset Service Providers Act 2025," first introduced by the finance minister in September, establishes a framework for the licensing and regulation of virtual asset activities in the Caribbean nation. The bill, first introduced by the finance minister last September, is closely linked to Trinidad and Tobago's need to meet anti-money laundering and counter-terrorism financing standards ahead of the fifth round of mutual assessments by the Caribbean Financial Action Task Force (CATF), including an on-site review scheduled for March 2026. The Hong Kong Securities and Futures Commission (SFC) has added "AmazingTech" to its list of suspicious virtual asset trading platforms. The Hong Kong Securities and Futures Commission has warned the public to be wary of a virtual asset trading platform called "AmazingTech" and has added it to its list of suspicious virtual asset trading platforms. The platform claims to operate a virtual asset trading platform in Hong Kong and is suspected of engaging in unlicensed activities. Opinion The Coinbase Bitcoin Premium Index has been negative for three consecutive weeks, indicating significant selling pressure in the US market. According to CryptoQuant data, the Coinbase Bitcoin Premium Index has remained negative for three consecutive weeks since it turned negative on October 31. The premium index is positive when the price of Bitcoin on Coinbase is higher than the global average price, and negative otherwise. The current trend indicates that there is significant selling pressure in the US market and investors' risk appetite is declining. Glassnode Co-founder: Bitcoin ETFs continue to generate net profits; cost base remains undamaged. Negentropic, co-founder of Glassnode, published an article on the X platform pointing out that what is happening to Bitcoin now is not a narrative shift, but rather a mechanism-based "buffering." Currently, ETFs are still maintaining net profits, and the cost base has not been damaged. Although some long-term holders are selling, the Solana ETF is experiencing stable inflows, and altcoins are performing better than BTC and ETH. Furthermore, the overall cyclical structure remains intact, with strong demand for ETFs and spot trading, and the macroeconomy generally maintaining a neutral to bullish stance. The market has not surrendered, and the trend has not been broken. When the decline finally exhausts, the rebound may be much larger than the previous drop. Strategy: The BTC holdings, based on recent prices, could meet the dividend needs for 71 years. Bitcoin treasury firm Strategy posted on the X platform that, based on recent prices, its current holdings of approximately 650,000 BTC are sufficient to cover dividends for 71 years. It also noted that if Bitcoin appreciates by about 1.41% annually, the resulting returns would be enough to pay the full year's dividends. However, the community points out that Strategy's data is based on several assumptions, including a stable Bitcoin price, all holdings being available for sale or as collateral for financing, no external shocks or tax impacts, a continuously manageable convertible debt structure, and stable dividend payments. Tom Lee: Strategy, holding 650,000 Bitcoins, has become the preferred hedge in the market. In an interview with CBDC, Bitmine Chairman and CEO Tom Lee stated that due to the limited number of on-chain options, MSTR has become the preferred tool for cryptocurrency investors to manage risk. Institutional cryptocurrency investors used Strategy (MSTR) stock to hedge losses, causing the stock to fall by 43%. Tom Lee believes that Strategy holds a large amount of Bitcoin (650,000 coins), with liquidity far exceeding that of BTC and ETH derivatives. Therefore, when crypto liquidity dries up and market makers suffer losses, institutions are unable to effectively hedge on-chain and can only short MSTR to hedge against losses in Bitcoin and Ethereum. Tom Lee also points out that the market mechanism of cryptocurrencies remains fragile, and Strategy's use as a hedging tool indicates a deeper structural problem. Yi Lihua: I went all in on ETH around $2700, and also hold BNB and ASTER. Liquid Capital founder Jack Yi posted on the X platform, "ETH traded around $2700, and this time I'm fully invested. My overall portfolio has always followed the logic of three major sectors: ETH as the main public chain, with BTC/BCH also allocated. The trading platforms are BNB/Aster. My heavy holding in stablecoins is WLFI, which is equivalent to USD1 in BNB, and USD1 is the only stablecoin with the potential for a leapfrog development. I can't pay attention to too many projects; I'm focusing on the leaders in the three major sectors, and I'll leave the rest to time." Project Updates Port3 Network was hacked, who exploited the BridgeIn vulnerability to issue new tokens, causing Port3's stock to plummet 77.4% in 24 hours. Decentralized AI data network Port3 Network stated on the X platform that a hacker exploited a BridgeIn vulnerability to issue additional tokens. The team has removed liquidity and is prepared to communicate with the hacker. Port3 Network advises users not to trade tokens until the issue is resolved. Market data shows that the PORT3 token has fallen 77.4% in the past 24 hours. Hackers exploited a PORT3 bridging vulnerability to issue 1 billion new tokens and then dump them, while destroying the remaining 837 million tokens. According to on-chain analyst Yu Jin, three hours ago, a hacker exploited a PORT3 bridging vulnerability to mint 1 billion $PORT3 tokens, which were then sold on-chain, causing $PORT3 to drop by 76%. The hacker sold a total of 162.75 million tokens, receiving 199.5 BNB (US$166,000). Subsequently, the PORT3 project removed on-chain liquidity, and some centralized exchanges suspended PORT3 deposits. Unable to continue selling tokens, the hacker destroyed the remaining 837.25 million PORT3 tokens 40 minutes ago. Cardano experienced a brief chain split on Friday due to a vulnerability in its old code; the founder stated that the FBI has launched an investigation. The Cardano network experienced a temporary split on Friday due to a "malformed" delegation transaction. This type of transaction, which delegates ADA to a staking pool, while valid at the protocol level, can lead to code glitches that affect network functionality. According to an incident report released by Intersect, an organization within the Cardano ecosystem, this "malformed" transaction exploited an old code vulnerability in the Cardano blockchain's underlying software library. This vulnerability caused disagreements among nodes regarding how to process the transaction, ultimately leading to a network split. The vulnerability was caused by an ADA staking pool operator named Homer J, who used AI-generated code to drive the transaction and has acknowledged responsibility for the network split. Staking pool operators have been instructed to download the latest version of their node software to fix the issue and reassemble the split chain into a single, complete blockchain. This temporary split has sparked debate within the Cardano community. Some believe Homer J's actions helped expose critical vulnerabilities, while others, such as Cardano founder Charles Hoskinson, claim it was an attack on the Cardano network, and the FBI has launched an investigation. One user quipped, "Nobody noticed the Cardano network partition because nobody was using it." Monad: The MON token sale on Coinbase has ended, with 85,820 participants investing $269 million. Monad announced on the X platform that the MON token sale on Coinbase has ended, with 85,820 participants investing a total of $269 million. The mainnet will launch on Monday. Binance Futures will delist PORT3USDT U-margined perpetual contracts. According to the official announcement, Binance Futures will automatically liquidate the PORT3USDT U-margined perpetual contract at 14:30 (UTC+8) on November 23 , and will delist the aforementioned perpetual contract trading pair after the liquidation is completed. Binance Alpha will list Irys (IRYS) on November 25th. According to the official announcement, Binance Alpha will list Irys (IRYS) on November 25th. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page after trading opens on Alpha. Further details will be announced separately. Binance: Holders of over 256 Alpha Points can claim a 640 Kyuzo's Friends (KO) airdrop. According to the official announcement, Binance Alpha will open trading of Kyuzo's Friends (KO) on November 23, 2025 at 17:00 (UTC+8). Users holding at least 256 Binance Alpha Points can claim an airdrop of 640 KO tokens on a first-come, first-served basis. If the reward pool is not filled, the claim threshold will automatically decrease by 5 points every 5 minutes. Claiming the airdrop will consume 15 Binance Alpha Points. Users must confirm their claim on the Alpha event page within 24 hours, otherwise they will be deemed to have forfeited their claim. Important data The 1inch team withdrew 6.01 million 1INCH tokens from Binance within 13 hours, worth $1.072 million. According to on-chain analyst Ai Yi, in the past 13 hours, 1inch Team Investment Fund withdrew 6.01 million 1INCH from Binance, worth $1.072 million, at an average withdrawal price of $0.1785. Currently, it holds 1INCH worth $16.97 million, but its top holding remains ETH ($26.6 million). This week, NFT transaction volume fell 4.21% to $74.2 million, while the number of sellers surged 106%. CryptoSlam data shows that NFT market transaction volume fell 4.21% to $74.2 million in the past week. The number of NFT buyers increased by 34.03% to 328,255; the number of sellers surged by 106% to 284,166 ; and the number of NFT transactions decreased by 12.67% . Ethereum network transaction volume reached $31.93 million, down 3.81% from the previous week; BNB Chain network transaction volume reached $8.74 million, down 0.01%; Mythos Chain network transaction volume reached $6.96 million, up 5.28%. This week's high-value deals include: CryptoPunks #9816 sold for $174,826.39 (58 ETH). CryptoPunks #3661 sold for $148,102.05 (47 ETH). CryptoPunks #8739 sold for $122,164.40 (39.99 ETH). CryptoPunks #4241 sold for $112,516.20 (35.49 ETH). CryptoPunks #5666 sold for $110,789.94 (34.5 ETH). An address deposited 8,920 ETH into Binance; selling them would result in a loss of $2.12 million. According to on-chain analyst Ai Yi, address 0x29F...335EF deposited 8,920 ETH (approximately $24.85 million) into Binance in the past hour. This ETH was withdrawn from the exchange between March 2024 and February 2025 at an average price of $3,024. Selling it now would result in a loss of $2.12 million. After this deposit, the address's wallet has only 0.04238 ETH remaining, almost completely liquidated. Institutional holdings A new wallet, suspected to belong to Bitmine or SharpLink, transferred $60.04 million worth of ETH from FalconX. According to Onchain Lens monitoring, a newly created wallet received 21,537 ETH from FalconX, worth $60.04 million. This payment may belong to Bitmine or SharpLink, but this has not yet been confirmed.