Morning News | Pioneer Group will begin offering cryptocurrency ETFs on Tuesday. Sony Bank plans to

HashKey Holdings Limited has undergone a review by the Hong Kong Stock Exchange and plans to list its shares in Hong Kong.

Market trends and developments.

Market dynamics yesterday.

● BlackRock transferred 2156 BTC to Coinbase, worth $186 million.

According to Onchain Lens, BlackRock transferred 2156 bitcoins to Coinbase, valued at approximately $186 million.

● Sony Bank plans to issue a US dollar-backed stable coin in the fiscal year 2026 in the United States.

According to Nikkei news, Sony Bank intends to issue a US dollar-backed stable coin in the fiscal year 2026, with the goal of using it for payments related to gaming and anime content within its ecosystem.

● Bank of America expects the Federal Reserve to cut interest rates by 25 basis points in December.

Bank of America’s global research department predicts that the Federal Reserve will cut interest rates by 25 basis points in December 2025. Previous predictions suggested that no rate cuts would occur.

● The acting chairman of the US FDIC said that he will propose a framework for regulating stable coins in December.

据CoinDesk报道，美国联邦存款保险公司(FDIC)代理主席Travis Hill计划在周二的众议院金融服务委员会听证会上宣布，FDIC将在12月底前提出《国家创新稳定币指导法案》(GENIUS Act)的首批实施规则，设立稳定币发行方的申请监管框架。Hill在准备好的证词中表示，FDIC已开始制定实施GENIUS Act的规则，并计划在明年初提出针对FDIC监管下的支付稳定币发行方的审慎要求。该机构还正在根据总统数字资产市场工作组的建议，开发关于代币化存款监管状态的指导方针。

● 黄金价格或降至13倍比特币比率，波动加剧

彭博情报高级商品策略师Mike McGlone表示，比特币可能回探至5万美元，比特币/黄金比率最终可能降至13倍。他指出，12月1日该比率约为20倍，而公允价值应接近13倍。推动比率回归的关键因素是标普500指数120日波动率接近2017年以来最低年终水平。McGlone还提到，市场极端自满情绪可能导致风险资产进一步下行，比特币或将首当其冲。

● Zama：将在以太坊链上通过荷兰式拍卖出售总量10%的ZAMA代币

据官方公告，全同态加密网络Zama官方宣布，将通过在以太坊上的密封竞价荷兰式拍卖出售10%的ZAMA代币总量，拍卖使用全同态加密(FHE)保持竞价机密。代币将立即解锁。

拍卖时间为1月12至15日，代币领取时间为1月20日。ZAMA是Zama协议的实用型代币，主网预计年底上线。

此前消息，Zama A轮融资7300万美元，Multicoin Capital等领投;B轮融资5700万美元，Pantera Capital等领投。

● Kalshi在Solana上线代币化预测平台

预测市场平台Kalshi宣布其代币化预测服务已在Solana区块链上线，并开放超过200万美元的建设者补助金申请，未来计划扩展至更多区块链。同时，Kalshi推出了Builder Codes计划，允许开发者通过DFlow或Jupiter Exchange等平台无需许可即可在其全球流动性池上构建应用并获得与交易量成正比的费用和奖励。

● HashKey Holdings Limited通过港交所聆讯，拟赴港上市

据港交所12月1日披露，HashKey Holdings Limited(一家在开曼群岛注册成立的有限公司)已通过港交所聆讯，正式启动赴港上市进程。摩根大通、国泰海通国泰君安国际担任本次IPO的联席保荐人。

主要信息：

- 该公司已发布聆讯后资料集，目前处于上市准备阶段

- 本次IPO的发行价区间预计为每股[编纂]港元至[编纂]港元

- 发行股份数量、公开发售股份数量及配售股份数量均为[编纂](可能视情况调整)

- 每股面值为0.00001美元

- 发行价预计将由整体协调人与公司协商确定

需要注意的是，该聆讯后资料集仅为草拟本，内容并不完整，可能会作出重大变动。投资者应等待正式招股章程发布，并仅依据在香港公司注册处注册的正式招股说明书作出投资决定。

● PeckShield：11月加密安全事件损失近2亿美元，环比增长969%

据PeckShield统计，2025年11月发生约15起重大加密货币攻击事件，造成总损失约1.9427亿美元，较10月的1818万美元激增969%。五大攻击事件分别为：Balancer v2及其分支损失1.374亿美元(已追回3900万)、Upbit损失3600万美元、Yearn Finance损失900万美元、HLP坏账495万美元及GANA PayFi损失310万美元。

● 日本拟对加密交易所得按20%税率征税，目标2026年实施

The Japanese government and the ruling party are working on adjusting the income tax policy for cryptocurrency transactions. It is planned to apply a uniform tax rate of 20%, allowing cryptocurrencies to be taxed in the same manner as other financial assets such as stocks and investment trusts. The new policy will involve separate taxation, meaning that gains from cryptocurrency transactions will not be combined with other incomes like wages. This change is expected to be included in the tax reform plan for 2026, and final details are expected to be finalized by the end of the year. Currently, Japan uses a consolidated tax approach for cryptocurrency transactions, with a maximum tax rate of 55%. In addition, the Japanese Financial Services Agency plans to submit amendments to the Financial Products Transaction Law at the 2026 annual meeting. These amendments aim to prohibit insider trading and require cryptocurrency issuers to fulfill their information disclosure obligations. It is also expected that investment trust products containing cryptocurrencies will be allowed to operate again in Japan.

● BitMine increased its holdings of ETH by 96,798 units last week, bringing its total holdings to 3,726,499 units

BitMine announced that it has increased its holdings of ETH by 96,798 units last week, bringing its total holdings to 3,726,499 units. Additionally, the company revealed that it holds 192 BTC, valued at $36 million, along with shares in Eightco Holdings worth $882 million, as well as $882 million in unencumbered cash.

● Massimo has approved the inclusion of Bitcoin in its long-term strategic reserves. Initial purchases have already begun

Massimo, a NASD-listed company, announced that the board of directors has approved the inclusion of Bitcoin in the company’s long-term strategic reserves, and initial purchases have already started. Further information about the company’s holdings will be disclosed in the 8-K form submitted to the U.S. Securities and Exchange Commission (SEC). Massimo stated that it plans to invest no more than 10% of its total assets in purchasing Bitcoin over the next five years.

● Pioneer Group will begin offering trading services for cryptocurrency ETFs and funds on Tuesday

. Pioneer Group will allow customers to trade these products on its brokerage platform. The company stated that it will support most cryptocurrency ETFs and funds that meet regulatory standards, similar to how it supports gold and other niche assets. It was also mentioned that there are no plans to launch any own cryptocurrency products at this time.

● Stablecoin company First Digital plans to go public through a SPAC merger

. According to Bloomberg, First Digital Group plans to go public through a merger with a Special Purpose Acquisition Company (SPAC). Sources familiar with the matter said that First Digital Group will announce the signing of a letter of intent regarding the merger with CSLM Digital Asset Acquisition Corp III, which is scheduled to list in New York.

● Germany and Switzerland have shut down a crypto mixing service worth $1.4 billion as part of cross-border enforcement actions

. Germany and Switzerland have closed down a crypto mixing service worth $1.4 billion as part of cross-border enforcement efforts.

● The Ethereum Fusaka upgrade will take place on December 3rd, aiming to improve network scalability and decentralization

. This upgrade is part of Ethereum’s 2025 roadmap. It involves updates to the underlying infrastructure, with the goal of enhancing network scalability, reducing costs associated with Rollup technologies, and increasing network capacity and decentralization levels.

● Crypto derivatives exchange Bitnomial will launch its first regulated cryptocurrency spot trading platform under the CFTC regulations

加密衍生品交易所Bitnomial将推出首个受美国商品期货交易委员会(CFTC)监管的加密货币现货交易平台，这家总部位于芝加哥的公司上个月根据CFTC第40.6(a)条规定提交了自我认证文件，这些规则已于周五正式生效，这意味着现货交易可能在未来几天内启动。该规定允许注册指定合约市场(DCM)在证明符合《商品交易法》后实施新规则。Bitnomial的自我认证规则涵盖“现货”产品上市，包括零售杠杆现货，使客户能够在交易所直接买卖和融资数字资产。

● USDC Treasury新增铸造8.5亿枚USDC

据Whale Alert监测，凌晨USDC Treasury分4笔交易共新增铸造8.5亿枚USDC。

● 巨鲸存入1000万美元USDC开仓12,000枚ETH多单，总价值3280万美元

巨鲸地址0xa5B0今日向HyperLiquid存入1000万美元USDC，并以20倍杠杆开仓12,000枚ETH多单，总价值约3280万美元，清算价格为1990.1美元(Lookonchain)。

● 比特币挖矿陷入“史上最差利润周期”，矿企全面承压

The MinerMag report indicates that the Bitcoin mining industry is facing the worst profit decline in 15 years. Hash rate prices have dropped to a structural low of around $35 per PH/s. The payback period for new mining machines has increased to over 1,000 days, with only about 850 days left before the next halving event. As profitability deteriorates, mining companies are beginning to deleverage. CleanSpark has fully repaid its Bitcoin collateral loans. Mining company stocks have also plummeted significantly, with MARA, CleanSpark, Riot, and HIVE experiencing losses of between 32% and 54% since mid-October.

● Grayscale Chainlink ETF will be listed on NYSE Arca on Tuesday

According to a document released on Monday, NYSE Arca, an affiliate of the New York Stock Exchange Group, has approved the listing application for the Grayscale Chainlink Trust ETF. It will begin trading on Tuesday. In recent weeks, several cryptocurrency ETFs have been launched in the United States, including those tracking Litecoin, HBAR, XRP, and SOL.

● Bitdeer Technologies has increased its holdings of 56.4 Bitcoins, bringing its total balance to 2,141.1 Bitcoins

According to market reports, Bitdeer Technologies, a Bitcoin mining company listed on NASDAQ, has increased its holdings of 56.4 Bitcoins. Currently, its total Bitcoin balance stands at 2,141.1 Bitcoins.

● Binance will remove the SXPUSDT, MILKUSDT, OBOLUSDT, and TOKENUSDT contracts

According to official announcements, Binance will automatically close these contracts at the following times:

December 5, 2025 at 17:00 (Eastern Time): SXPUSDT and MILKUSDT U-based perpetual contracts;

December 5, 2025 at 17:30 (Eastern Time): OBOLUSDT and TOKENUSDT U-based perpetual contracts.

After the automatic settlement is completed, Binance contracts for the aforementioned perpetual contracts will be removed from trading.

Additionally, Binance will assign observation labels to contracts such as Tranchess(CHESS), Dent(DENT), dForce(DF), Aavegotchi(GHST), and Solar(SXP). Compared to other listed tokens, these tokens may experience higher volatility and risk.