Daily Summary, December 1

Daily Digest, December 1

Market Performance
* Bitcoin closed November with a significant decline, its price down 16.7%. Ethereum performed even weaker, losing over 21% of its value for the month.

Regulation & Legal
* The Central Bank of China stated that virtual assets are not money, do not have the status of legal tender, and any activity involving their use is considered an illegal financial operation.
* Swiss and German police shut down a cryptocurrency mixer and seized €24,000,000 in BTC.
* The Bank of Russia may soften cryptocurrency circulation rules, including abandoning the idea of “super-qualified” investors and other relaxations for international settlements.

Hacks & Exploits
* The Yearn Finance project was hacked for $9,000,000. The hacker gained the ability to mint an unlimited amount of yETH and drained a liquidity pool in a single transaction.

Corporate & Institutional News
* The company Strategy dispelled rumors about potential financial risks. It has formed a $1.44 billion reserve for stable dividend payments and additionally purchased 130 BTC.
* The outflow of funds from spot Bitcoin ETFs in November amounted to $3.48 billion, the largest monthly outflow since February.
* First Digital Group, the issuer of the FDUSD stablecoin, plans to launch an IPO in the United States.

Technology & Adoption
* Pavel Durov announced the launch of Cocoon, a computing network that allows GPU owners to earn TON for processing AI requests.
* AI models participating in a trading tournament are now making losses — absolutely all neural networks are trading in the red.

On-Chain & Metrics
* November became the month with the largest fundraising in token sales over the past two years, attracting $14.47 billion in a single month.
* A participant in the Ethereum ICO woke up after 10 years of inactivity and transferred 40,000 ETH to a new wallet.

Other
* 21 rules of the Bitcoin club from Michael Saylor.