Bitcoin price drops below $86000

**[Galaxy: Cryptocurrency Lending Market Reaches $25 Billion, Transparency Significantly Improved]** Data from Galaxy Research shows that the total outstanding loans in the cryptocurrency lending market reached nearly $25 billion in the third quarter of this year, marking a growth of over 200% since the beginning of 2024. However, the current market size has yet to recover to the peak of $37 billion seen in the first quarter of 2022. Alex Thorn, Head of Research at Galaxy, pointed out that compared to 2022, the number of centralized finance lending platforms has increased, and overall transparency has significantly improved. He expressed pride in the latest data charts and the transparency of data providers, stating that the current market transparency has undergone a dramatic shift compared to previous cycles. Leading institutions in this market include Tether, Nexo, and Galaxy.

[Whale Transfers 15,396 AAVE Back to FalconX, Total Loss of $1.54 Million] Onchain Lens data shows that a whale transferred 15,396 AAVE (approximately $2.57 million) back to FalconX. This address had previously received a total of 20,396 AAVE within 1.5 months, with a current total loss of $1.54 million. Additionally, the address holds a 25x leveraged ETH long position on the HyperLiquid platform, with a current unrealized loss of approximately $407,000.

The launch of DOGE ETFs from Grayscale and Bitwise saw only $2.16 million in inflows, failing to attract expected institutional interest.

[Coinbase CEO Criticizes The New York Times and Calls for Public to Cancel Subscriptions] Coinbase co-founder and CEO Brian Armstrong posted on social media, stating that The New York Times now resembles more of a 'political propaganda machine,' replacing news reporting with emotional content. He remarked that true journalism should hold significant value, but no one around him considers The New York Times a serious media outlet anymore (except for a small group of people over 60 on the U.S. East Coast). He also mentioned that the culture of The New York Times' Dealbook team is different and called on the public to 'give a gift to friends and family during the holidays—cancel your subscription to The New York Times.'

[Prediction Markets Show Hassett's Probability of Being Elected Fed Chair Rises Sharply] On December 1, prediction market platform Kalshi data showed that the probability of White House National Economic Council Director Hassett being elected as Federal Reserve Chair rose from 55% a week ago to 78%. Meanwhile, Polymarket platform showed Hassett's probability of being elected has risen to 71%, significantly ahead of other contenders.