Mars Morning News | ETH returns to $3,000, extreme fear sentiment has passed

Federal Reserve Beige Book: Mixed Economic Signals, "K-Shaped" Divergence in Consumer Market Intensifies

On November 27, the latest Beige Book survey released by the Federal Reserve showed that U.S. economic activity has seen little change in recent weeks, but overall consumer spending has further declined except among high-end consumers. According to the survey of regional business contacts published by the U.S. central bank on Wednesday, employment levels have slightly decreased while prices have moderately increased. There is division among Federal Reserve policymakers on whether to keep interest rates unchanged or cut rates at the December meeting. This report provides arguments for both sides of the current policy debate.

JPMorgan Reverses Last Week's "No Rate Cut" Forecast, Expects Fed to Cut Rates in December

On November 27, JPMorgan economists changed their forecast, now expecting the Federal Reserve to begin cutting rates in December, reversing the bank's previous judgment a week ago that policymakers would delay rate cuts until January next year. The research team, led by U.S. Chief Economist Michael Feroli, stated on Wednesday that several key Fed officials (especially New York Fed President Williams) have recently expressed support for rate cuts, prompting them to reassess the situation. JPMorgan now expects the Fed to cut rates by 25 basis points each in December and January next year.

Nasdaq Applies to SEC to Raise BlackRock Bitcoin ETF Futures Limit to 1 Million Contracts

According to Cointelegraph, Nasdaq has submitted an application to the U.S. Securities and Exchange Commission (SEC) requesting to raise the futures limit for BlackRock's IBIT to 1 million contracts, which is the maximum level allowed by regulators.

Yi Lihua: ETH Returns to $3,000, Extreme Panic Has Passed

On November 27, Yi Lihua, founder of Liquid Capital (formerly LD Capital), posted on social media: "ETH has returned to 3,000, the period of extreme panic is over, and I remain optimistic about the subsequent market trend. It has only been 7 months since April, experiencing bottom fishing, selling at the top, and then bottom fishing again. In the crypto world, one day feels like ten years in the real world. This highly volatile market constantly tests human weaknesses—greed and fear. It is a wonderful industry, but also a terrible one, full of faith and doubt, wisdom and ignorance, light and darkness, hope and despair."

Hyperliquid Sparks Controversy by Unilaterally Changing Token Symbol, Pixelmon's $500,000 Purchase Overwritten

According to The Defiant, Hyperliquid has sparked controversy for unilaterally changing a token symbol. Earlier this year, the gaming project Pixelmon purchased the MON token symbol for nearly $500,000 through Hyperliquid's permissionless auction feature, but the symbol has now been replaced by Monad's MON token. On the Hyperliquid frontend, Pixelmon's MON has been changed to MONPRO, while Monad's token, deployed by the leading tokenization layer Unit, has become the default MON. Although the block explorer shows that Pixelmon technically still holds the MON symbol (Monad is UMON), Hyperliquid Labs has overridden the frontend display, raising questions about the exchange's decentralization claims. Crypto gaming investor Grail.eth criticized: Hyperliquid has essentially deceived all token symbol auction buyers, forcibly taking Pixelmon's MON and giving it to Monad. The entire value proposition of buying these symbols is their immutability and frontend display. Previously, Pixelmon's MON plummeted 98% since its launch in May 2024, with its market cap dropping from $53 million to $6 million.

After Trump Pardons CZ, Binance Faces Another $1 Billion Lawsuit

According to beincrypto, more than 300 victims and families of the October 7, 2023 Hamas attack on Israel have filed a lawsuit against Binance and founder Changpeng Zhao in federal court in North Dakota under the Anti-Terrorism Act, accusing them of knowingly assisting terrorist organizations in conducting cryptocurrency transactions. The 284-page complaint alleges that Binance processed over $1 billion in transactions for U.S.-designated terrorist organizations such as Hamas and Hezbollah, continuing to provide services despite knowing the accounts were controlled by terrorist groups. The complaint details several terror-related digital wallets, including a Venezuelan gold smuggling case: a 26-year-old woman received $177 million in cryptocurrency and withdrew $43 million in cash to fund terrorist activities. This case comes less than two years after Binance pleaded guilty and paid a $4.3 billion fine in 2023, and in the first month after Zhao was pardoned by Trump. Under the Anti-Terrorism Act, if found to have assisted international terrorism, Binance could face triple punitive damages. In February, a New York federal judge ruled that the plaintiffs had reasonably alleged that Binance knowingly and substantially assisted the attack. Binance currently faces four related lawsuits in the U.S.

Securitize Receives EU Approval to Operate Tokenized Trading and Settlement System, Will Deploy on Avalanche

According to The Block, Securitize has received authorization under the EU's Distributed Ledger Technology Pilot Regime, becoming a company licensed to operate compliant tokenization infrastructure in both the U.S. and EU. The Spanish National Securities Market Commission (CNMV) announced the approval on Wednesday, allowing Securitize to operate a regulated trading and settlement system across the EU. As part of the launch, Securitize will deploy its European trading and settlement system on Avalanche, with the first issuance expected in early 2026. This authorization enables Securitize to operate underlying market infrastructure, providing a compliant environment for the issuance, trading, and settlement of tokenized securities across the EU, and directly connecting with its U.S. infrastructure.

Tether CEO Responds to S&P Downgrade of USDT: The Fragility of the Old System Is Making Those in Power Uneasy

On November 27, Tether CEO Paolo Ardoino responded to S&P's latest rating of Tether, saying, "We are proud to be hated by you." Paolo Ardoino pointed out that the traditional rating system has long directed investors toward "investment-grade" institutions that eventually collapsed, causing global regulators to question the independence of rating agencies. He stated that the traditional financial system is unwilling to see any company break free from its "dysfunctional gravity," but Tether has built the industry's first overcapitalized, toxic-asset-free, and consistently highly profitable company, proving that the fragility of the old system is making the "emperor's new clothes"-style rulers uneasy.

CryptoQuant: Significant Increase in Large Bitcoin Deposits to Exchanges During Price Drop

According to The Block, on-chain analytics firm CryptoQuant noted that after bitcoin's price fell below $80,000 last week, the number of bitcoins transferred by large holders to exchanges surged. Data shows that daily inflows to exchanges reached 9,000 BTC, with 45% coming from single deposits of over 100 BTC—a proportion described as "abnormally high." The average single deposit in November soared from 0.6 to 1.23 BTC, a one-year high. On Binance, the average single deposit rose from 12 BTC at the start of the month to 37 BTC recently. CryptoQuant pointed out that this further confirms the view that "large holders are reducing their bitcoin holdings through exchanges," and that investor selling continues to pressure the market amid the current price correction. Other major assets have also seen active exchange activity. Although total inflows of ethereum have not increased significantly, the proportion of large deposits has risen. As ethereum's price fell to around $2,900, the average daily single deposit reached 41.7 ETH, a nearly three-year high. For altcoins, daily transfers to exchanges have remained above 40,000 since July, peaking at 78,000 on October 17.

Even the Ex-Boyfriend of ChatGPT's Creator Was Robbed of Over $10 Million—How Crazy Is Foreign Crypto Robbery?

The article describes three recent robbery cases targeting cryptocurrency holders, including a home invasion involving Sam Altman's ex-boyfriend, a fake grenade robbery at a trading platform office, and a highway hijacking outside Oxford, revealing the security risks faced by crypto holders.

From God in a Month to Zero in a Week: The Fall of Polymarket's Sports Betting King

The article tells the story of trader Mayuravarma's experience on the Polymarket prediction market, from quickly amassing wealth through high win rates in sports betting to losing almost all assets due to consecutive failed bets, highlighting the high risk and uncertainty of prediction markets.