Key Market Information Gap on December 1st, A Must-See! | Alpha Morning Report
Featured News
1.Rumors of Powell's Resignation Resurface? Speech to be Given Early Tuesday
2.Kalshi Faces Class-Action Lawsuit, Accused of Conducting Sports Betting Business Without a License
3.SAHARA Experiences Sudden 50% Drop, Market Cap "Halved" to $1.06 Billion
4.GIGGLE Surges Over 17% in 24 Hours, Market Cap Reaches $1.37 Billion
5.PIPPIN Market Cap Surpasses $1.2 Billion, Surging Over 60% in 24 Hours
Articles & Threads
1.《Exclusive: Upbit to List in the US, More Profitable Than Coinbase but Valued at Only 1/7》
On November 27, 2025, a "mini earthquake" occurred in the Korean cryptocurrency community. Upbit, the absolute dominant player in the Korean market, was hit by a hacker attack, and 54 billion Korean won (about $36 million) disappeared. Later, Upbit revised the amount to 44.5 billion Korean won in lost Solana network assets. However, the market's panic was quickly absorbed because based on Upbit's quarterly net profit of about $200 million, Upbit could recover the stolen amount in just 2 weeks.
2.《In 2026, Will ICOs Replace Airdrops?》
If you have been active in the cryptocurrency market recently, you may have noticed a trend: the airdrop craze is gradually fading away, and Initial Coin Offerings (ICOs) are making a strong comeback, while the market is transitioning from a venture capital-dominated funding model to decentralized fundraising. ICOs are not a new phenomenon, as some of the hottest coins in the cryptocurrency space (such as Ethereum, Augur) have completed their initial issuance through ICOs. However, we must acknowledge that after experiencing a long "silent period" from 2022 to 2024 (during which project funding was mostly done through closed-door venture capital deals), ICOs saw a strong revival in 2025.
Market Data
Daily market overall funding heat (reflected by funding rate) and token unlocks
Data Source: Coinglass, TokenUnlocks
Funding Rate

Token Unlocks

You may also like

When the P2P illicit funds from ten years ago turned into 60,000 bitcoins

Morning News | CME Group launches Nasdaq Cryptocurrency Index futures; Asset management giant Janus Henderson strategically invests in Ethena

Why did Oracle deliver the strongest financial report in history, yet its stock price fell?

Bitcoin Layer 2 Network Botanix: Why Did We Choose to Dissolve?

Morning Report | OpenAI has submitted an S-1 registration statement draft to the U.S. SEC; Morpho completes $175 million financing

Galaxy Deep Research Report: How Hyperliquid's HIP-4 Upgrade Changes the Landscape of Prediction Markets?

Latest research from 13 top universities including Cornell University: The current state, challenges, and misconceptions of the fusion of Crypto and AI

Deconstructing Anthropic: The Best AI Company, Possibly Also a Type of Organizational Invention

Every exchange is a "Universal Exchange."

The counterattack of traditional finance: Alliance chains are quietly reviving

Pantera Capital Partner: How Tokenization is Restructuring the Private Equity and Early Investment Ecosystem?

Mastercard Launches Agent Pay for AI, Plans to Record AI Agent Payment Authorizations on Polygon
Mastercard launched Agent Pay for AI, a new payment protocol designed to help AI agents make small payments such as pay-per-use access to data and APIs. The system plans to record human-granted AI agent permissions on Polygon, focusing on verifiable authorization, identity, and payment controls.

Curve Deploys Llamalend v2 on Optimism With 250,000 OP Incentives
Curve launched Llamalend v2 on Optimism with 250,000 OP incentives from the Optimism Foundation. The upgrade expands Llamalend beyond its earlier crvUSD-focused model, adding broader collateral support, LlamaRisk market reviews, and the ability to use Curve LP tokens as collateral.

Raydium Old Liquidity Pool Reportedly Exploited, With $1.34 Million Moved to Ethereum and Tornado Cash
An old Raydium liquidity pool was reportedly exploited for around $1.34 million in USDC, RAY, and wSOL, with the stolen funds bridged to Ethereum and deposited into Tornado Cash. The incident highlights the tail risks of legacy DeFi pools, old contracts, and cross-chain fund laundering paths.

Kalshi Executive Challenges “SBF Backed AI Unicorns” Narrative, Says Leopold Aschenbrenner Was Key Figure
Kalshi executive John Wang questioned the “SBF backed AI unicorns” narrative, saying Leopold Aschenbrenner was the key figure behind major AI investment decisions.

New York Proposes Stricter Stablecoin Issuer Rules Aligned With Federal GENIUS Act
NYDFS proposed stricter stablecoin issuer rules aligned with the GENIUS Act, covering reserves, custody, redemption timelines, audits, and capital buffers.

CryptoQuant Says Bitcoin Profitable Supply Is Near 45% Pressure Zone as On-Chain Data Points to Market Repricing
CryptoQuant said Bitcoin’s profitable supply is nearing the 45% pressure zone, signaling rising market stress, unrealized losses, and a possible on-chain repricing phase.

Bitcoin Falls Below 200-Week Moving Average as On-Chain Data Shows Over Half of Supply in Loss
Bitcoin dropped below its 200-week moving average as on-chain data showed over 50% of circulating supply is now in loss, signaling rising market stress.
