Daily Summary, December 3

News Summary for December 3

* Regulation and Traditional Finance
* The United Kingdom has passed a law officially recognizing cryptocurrency as a type of property.
* The ten largest banks of the European Union plan to launch a euro-backed stablecoin in the second half of 2026.
* The government of Georgia is implementing blockchain into state registries, planning to test the technology in key government services.

* Exchanges and Platforms
* Binance appoints Yi He as the new co-CEO of the company.
* Binance has also launched accounts for teenagers aged 6 to 17.
* MetaMask introduced the “Transaction Shield” security system extension, which offers subscribers a guarantee of loss reimbursement (up to $10,000 per month) for transactions approved by the system.

* Market and Indicators
* The buy-to-sell ratio for Bitcoin on all exchanges reached a high since January 2023 (1.17), indicating buyer dominance.
* The average cost to mine 1 BTC for public miners in Q2 2025 rose to approximately $74,600, and when including non-cash expenses — to approximately $137,800.
* Former SEC Chairman Gary Gensler stated that all cryptocurrencies, except for Bitcoin, are high-risk and speculative assets.

* Technology and Development
* The Fusaka update has been activated on the Ethereum mainnet. The upgrade is aimed at increasing the network’s scalability, efficiency, and security.
* Sam Altman announced a “code red” mode within OpenAI, under which the company is temporarily postponing some projects to focus on improving ChatGPT.

* Crypto Events and Incidents
* An incredible case was recorded: a user under the nickname Cryptan turned $24 into almost $30,000 by correctly predicting Bitcoin price movements 11 times in a row on the Polymarket platform.