BBX: Multiple blockbuster mergers and acquisitions in a single day! HSI's transformation to 'PURR' digital treasury goes public, institutions accelerate acquisition of on chain technology platform

[Aave Passes Proposal to Remove USDS Collateral Eligibility and Increase Reserve Factor to 25%] The Aave community has passed a proposal to remove USDS collateral eligibility (reducing LTV to 0), exclude it from e-Mode, and increase the reserve factor from 10% to 25%. The proposal is currently awaiting final execution via AIP. This adjustment is due to declining USDS yield contributions, low collateral utilization, and potential risks in its issuance mechanism. MakerDAO founder Rune responded, stating that the proposal misunderstands the borrowing methods of Stars like Spark and Grove from Sky. He also mentioned that if Sky improves transparency and scalability in the future through DataHub, Grove, and Sentinel Network, USDS could still return to Aave's list of collateral assets.

[Columbus Circle Capital Corp I Shareholders Approve Merger with ProCap BTC] Columbus Circle Capital Corp I (NASDAQ: BRR) shareholders approved the business merger with Bitcoin financial services company ProCap BTC on December 3, 2025. The transaction is expected to be completed on December 5, after which the merged company will be renamed ProCap Financial, Inc. and will continue trading on the Nasdaq Global Market under the ticker symbol 'BRR.' ProCap BTC has raised over $750 million from investors in the traditional finance and Bitcoin industries.

Monitoring shows that a giant whale has deposited $1.18 million USDC into Hypeer Liquid and opened a long position in HYPE with 5-fold leverage, while also placing orders to increase positions. In another wallet, the whale holds a long position in HYPE with 6 times leverage, currently with a floating profit of $850000. （Onchain Lens）

[Former Coinbase Product Director Nemil Dalal Joins Y Combinator as Visiting Partner] Former Coinbase Product Director Nemil Dalal will join Y Combinator as a Visiting Partner, focusing on the crypto sector. Nemil Dalal stated that Y Combinator had a profound impact on him in 2012, helping him gain experience and driving the development of products such as USDC, Coinbase Developer Platform, and x402. Nemil Dalal worked at Coinbase for 7 years, advancing the development of USDC, DeFi, and developer tools.

According to GoPlus data, major security incidents in Web3 during November caused economic losses of approximately $183.98 million. Among them, Balancer suffered an attack resulting in losses of $128 million, and Upbit experienced theft amounting to $36.8 million. The types of security incidents included smart contract vulnerabilities, social engineering attacks, phishing attacks, Ponzi schemes, and rug pulls. Specifically, smart contract vulnerabilities led to 15 major incidents, causing losses of approximately $175.03 million; phishing attacks resulted in losses of around $8 million, affecting approximately 7,000 victims.