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[Coinbase Institutional: Leverage Cleared in November, Healthier Market Structure] Leverage and speculative positions in the market saw a significant decline in November, potentially laying a solid foundation for year-end performance. Open interest in BTC, ETH, and SOL perpetual contracts dropped by 16% month-over-month; U.S. spot ETFs saw outflows of $3.5 billion in BTC and $1.4 billion in ETH. The funding rate for BTC perpetual contracts once fell below the 90-day moving average by 2 standard deviations before rebounding. Systemic speculative leverage has decreased from around 10% in the summer to 4%–5%, resulting in a healthier market structure and reduced sensitivity to sharp corrections in the short term.
[On-chain Analyst Claims Insider Whale '1011' Unstaked ETH 8 Days Before Opening Long Positions, Suspected of Insider Knowledge] On-chain analyst Eye posted that the funds for the ETH long positions of the '1011 Insider Whale' have been exposed. Over $220 million was borrowed through Aave and deposited into Binance, involving three addresses starting with 0xF6FD, 0x4116, and 0xF744. The $273 million ETH long position on Hyperliquid originated from an address starting with 0xb317. Eye's tracking revealed that this whale unstaked ETH from the staking pool 8 days before opening the ETH long positions, during a period when the market was in a downturn, raising suspicions of prior insider knowledge.
[Invesco Files Form 8-A with U.S. SEC for Invesco Galaxy Solana ETF] Global asset management giant Invesco has filed Form 8-A with the U.S. Securities and Exchange Commission (SEC) for its Invesco Galaxy Solana ETF, a step typically taken before the official launch of a product. After filing such documents, trading usually begins the following day.
[Binance to Launch WETUSDT Perpetual Contract on December 10, 2025] Binance will launch the WETUSDT perpetual contract at 15:00 (UTC+8) on December 10, 2025, with a maximum leverage of up to 20x.
US Senator Cynthia Lummis plans to release a draft of the crypto market structure bill this weekend, aimed at allowing the industry and both parties to review the draft before next week's review. (Cointelegraph)
【[Notice on New Trading Pairs & Trading Bots Services on Binance Spot and Update to B-Token Collateral - 2025-12-11] This is a general announcement and marketing communication. Products and services referred to here may not be available in your region. Fellow Binancians, To expand the list of trading choices offered on Binance Spot and enhance users’ trading experience, Binance will open trading for the BNB/USD1, ETH/USD1, and SOL/USD1 trading pairs at 2025-12-11 08:00 (UTC). Binance will enable Trading Bots services for the following pairs at 2025-12-11 08:00 (UTC): · Spot Algo Orders: BNB/USD1, ETH/USD1, and SOL/USD1 In addition, Binance will offer various fee promotions on the following trading pairs according to the schedules outlined below: Zero Fees for VIP2 - 9 Users and Spot Liquidity Providers: · BNB/USD1, BTC/USD1, ETH/USD1, and SOL/USD1 · Promotion Period: 2025-12-11 08:00 (UTC) until further notice Zero Fees for All Users: · USD1/USDT, USD1/USDC · Promotion Period: 2025-12-11 08:00 (UTC) until further notice Collateral Assets of Binance-Peg BUSD (B-Token)In addition, collateral assets of Binance-Peg BUSD (B-Token) will be converted to USD1 at a 1:1 ratio, with the conversion expected to be completed within one week following this announcement. Users can view collateral details on the Proof of Collateral for B-Tokens page once the conversion is complete, and search for “BUSD” on the page to view the corresponding collateral details. For large size trade requirements, users can reach out to the OTC Desk at Spot RFQ or Telegram. Notes: · During the Promotion Period, VIP 2 - 9 users and Spot Liquidity Providers will enjoy zero maker and taker fees exclusively for the BNB/USD1, BTC/USD1, ETH/USD1, and SOL/USD1 spot trading pairs. Standard fees will apply to regular and VIP 1 users, and the trading volume of these pairs will count toward regular and VIP 1 users’ VIP tier volume calculation. Users can refer to this page for more details on the promotional spot trading pairs. Separately, all eligible users can enjoy zero fees on the USD1/USDT and USD1/USDC spot trading pairs throughout the Promotion Period. · During the Promotion Period, the trading volume on BNB/USD1, BTC/USD1, ETH/USD1, and SOL/USD1 spot trading pairs will be excluded from both (i) the VIP tier volume calculation and (ii) all Liquidity Provider programs (as applicable) for VIP 2 - 9 users and Spot Liquidity Providers. Separately, the trading volume on USD1/USDT and USD1/USDC spot trading pairs will also be excluded from the VIP tier volume calculation and all applicable Liquidity Provider programs during the Promotion Period. · During the Promotion Period, BNB discounts, referral rebates, and any other adjustments will not apply to BNB/USD1, BTC/USD1, ETH/USD1, and SOL/USD1 spot trading pairs for VIP 2 - 9 users and Spot Liquidity Providers. Additionally, these discounts and adjustments will also not apply to USD1/USDT and USD1/USDC spot trading pairs for all users throughout the promotion. · Standard trading fees apply after the Promotion Period ends. Please refer to the trading fee structure for more details. Start Trading on Binance Spot Now!Terms and Conditions: · Binance reserves the right to disqualify a user’s eligibility to participate if the account is involved in any dishonest behavior (including, but not limited to, wash trading, illegally bulk account registrations, self dealing, or market manipulation). · All trading volume and metrics related to the Promotion Period are measured by Binance in its sole and absolute discretion. · Calculation of maker and/or taker fee rebates for all spot trading pairs of BNB/USD1, BTC/USD1, ETH/USD1, SOL/USD1, USD1/USDT, and USD1/USDC will resume after the Promotion Period ends. · Binance reserves the right to cancel or amend the Promotion or Promotion terms and conditions in its sole and absolute discretion, for whatever reason and without prior notice to users. · Binance reserves the right to disqualify any participants who, in the opinion of Binance tamper with Binance program code, or interfere with the operation of Binance program code with other software. · Trading of the aforementioned new trading pair(s) is subject to eligibility based on the user's country or region of residence. Please note that the list of restricted countries provided below may be changed from time to time, due to mandatory changes in applicable laws and regulations, or other changes relevant to the trading eligibility of these new trading pair(s). Users need to complete account verification to participate in the trading of these new trading pair(s). · Please note that this list may be updated periodically to accommodate changes in legal, regulatory, or other factors. · Currently, users residing in the following countries or regions will not be able to trade the above-mentioned spot trading pair(s): Canada, Cuba, Crimea Region, Iran, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine. · There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDC’s whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and EEA-Customer-Support@circle.com. Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.】 [Notice on New Trading Pairs & Trading Bots Services on Binance Spot and Update to B-Token Collateral - 2025-12-11] This is a general announcement and marketing communication. Products and services referred to here may not be available in your region. Fellow Binancians, To expand the list of trading choices offered on Binance Spot and enhance users’ trading experience, Binance will open trading for the BNB/USD1, ETH/USD1, and SOL/USD1 trading pairs at 2025-12-11 08:00 (UTC). Binance will enable Trading Bots services for the following pairs at 2025-12-11 08:00 (UTC): · Spot Algo Orders: BNB/USD1, ETH/USD1, and SOL/USD1 In addition, Binance will offer various fee promotions on the following trading pairs according to the schedules outlined below: Zero Fees for VIP2 - 9 Users and Spot Liquidity Providers: · BNB/USD1, BTC/USD1, ETH/USD1, and SOL/USD1 · Promotion Period: 2025-12-11 08:00 (UTC) until further notice Zero Fees for All Users: · USD1/USDT, USD1/USDC · Promotion Period: 2025-12-11 08:00 (UTC) until further notice Collateral Assets of Binance-Peg BUSD (B-Token)In addition, collateral assets of Binance-Peg BUSD (B-Token) will be converted to USD1 at a 1:1 ratio, with the conversion expected to be completed within one week following this announcement. Users can view collateral details on the Proof of Collateral for B-Tokens page once the conversion is complete, and search for “BUSD” on the page to view the corresponding collateral details. For large size trade requirements, users can reach out to the OTC Desk at Spot RFQ or Telegram. Notes: · During the Promotion Period, VIP 2 - 9 users and Spot Liquidity Providers will enjoy zero maker and taker fees exclusively for the BNB/USD1, BTC/USD1, ETH/USD1, and SOL/USD1 spot trading pairs. Standard fees will apply to regular and VIP 1 users, and the trading volume of these pairs will count toward regular and VIP 1 users’ VIP tier volume calculation. Users can refer to this page for more details on the promotional spot trading pairs. Separately, all eligible users can enjoy zero fees on the USD1/USDT and USD1/USDC spot trading pairs throughout the Promotion Period. · During the Promotion Period, the trading volume on BNB/USD1, BTC/USD1, ETH/USD1, and SOL/USD1 spot trading pairs will be excluded from both (i) the VIP tier volume calculation and (ii) all Liquidity Provider programs (as applicable) for VIP 2 - 9 users and Spot Liquidity Providers. Separately, the trading volume on USD1/USDT and USD1/USDC spot trading pairs will also be excluded from the VIP tier volume calculation and all applicable Liquidity Provider programs during the Promotion Period. · During the Promotion Period, BNB discounts, referral rebates, and any other adjustments will not apply to BNB/USD1, BTC/USD1, ETH/USD1, and SOL/USD1 spot trading pairs for VIP 2 - 9 users and Spot Liquidity Providers. Additionally, these discounts and adjustments will also not apply to USD1/USDT and USD1/USDC spot trading pairs for all users throughout the promotion. · Standard trading fees apply after the Promotion Period ends. Please refer to the trading fee structure for more details. Start Trading on Binance Spot Now!Terms and Conditions: · Binance reserves the right to disqualify a user’s eligibility to participate if the account is involved in any dishonest behavior (including, but not limited to, wash trading, illegally bulk account registrations, self dealing, or market manipulation). · All trading volume and metrics related to the Promotion Period are measured by Binance in its sole and absolute discretion. · Calculation of maker and/or taker fee rebates for all spot trading pairs of BNB/USD1, BTC/USD1, ETH/USD1, SOL/USD1, USD1/USDT, and USD1/USDC will resume after the Promotion Period ends. · Binance reserves the right to cancel or amend the Promotion or Promotion terms and conditions in its sole and absolute discretion, for whatever reason and without prior notice to users. · Binance reserves the right to disqualify any participants who, in the opinion of Binance tamper with Binance program code, or interfere with the operation of Binance program code with other software. · Trading of the aforementioned new trading pair(s) is subject to eligibility based on the user's country or region of residence. Please note that the list of restricted countries provided below may be changed from time to time, due to mandatory changes in applicable laws and regulations, or other changes relevant to the trading eligibility of these new trading pair(s). Users need to complete account verification to participate in the trading of these new trading pair(s). · Please note that this list may be updated periodically to accommodate changes in legal, regulatory, or other factors. · Currently, users residing in the following countries or regions will not be able to trade the above-mentioned spot trading pair(s): Canada, Cuba, Crimea Region, Iran, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine. · There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDC’s whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and EEA-Customer-Support@circle.com. Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.