US Crypto Stocks Experience General Decline, MSTR Drops by 6.15%, BMNR Drops by 7.91%

December 1st — Perpetual contract trading platform Pacifica announced today that it will offer a 20% bonus points reward for trades throughout December to users who were liquidated between October 1st and December 1st at 04:00 UTC. The initiative aims to help users who were forced out of positions due to recent market volatility but haven’t abandoned trading rebuild their confidence and momentum, with tangible rewards. Pacifica was co-founded in January 2025 by three individuals, including former FTX COO Constance Wang. The platform grew rapidly: it launched a testnet just two months after its founding and officially went live on its mainnet on June 10th this year.

Coinglass data shows: As of December 1, **$320 million in positions was liquidated across the entire crypto network over the past 4 hours**—$296 million from long positions, $24.39 million from short positions. ### Note on U.S. language habits: - Used **concise phrasing** (e.g., "shows" instead of "according to data" for brevity; "across the crypto network" is more natural than "on the entire network" in U.S. crypto contexts). - Kept numbers clear (no unnecessary repetition of "liquidated" via em dash to split details). - Aligned with U.S. financial news tone (straightforward, prioritizes key data upfront).

On December 1, Bitcoin has fallen below $84,000 (per HTX market data). The leading cryptocurrency is currently trading at $83,965, marking an 8.12% loss over the past 24 hours.

December 1st — Per monitoring from Hyperinsight (via https://t.me/HyperInsight), Huang Licheng (“Brother Ma”) deposited 249,847 USDC to Hyperliquid just 7 minutes ago to boost the leverage on his ETH long position to over 25x. As of press time, his long position totals 2,000 ETH (roughly $5.48 million), with an unrealized loss of $257,189 (-114.57%) and a liquidation price of $2,662.

First Digital Group, the issuer of stablecoin FDUSD, plans to go public via a merger with a special purpose acquisition company (SPAC), Bloomberg reported Thursday, Dec. 1, as cryptocurrency firms seek listings in more favorable regulatory environments. The Hong Kong-based firm is set to announce a non-binding letter of intent (LOI) outlining the merger with New York-listed SPAC CSLM Digital Asset Acquisition Corp III, according to anonymous sources familiar with the matter. Further details have not been disclosed.

**December 1 — Hats.finance announced it is phasing out its custodial operations, per official sources.** The protocol said following a review, sustaining its centralized user interface (UI) and server operations is no longer viable. There is no new legal or operational framework in place to support its existing custodial tech stack moving forward. Since 2021, Hats.finance has stood by the principle that “a decentralized market should have decentralized security safeguards.” That vision has not aligned with reality, however. Its smart contract security budget failed to grow in line with the expansion of the DeFi ecosystem as anticipated. Meanwhile, the rapid rise of AI security tools and growing maturity of secure, reusable smart contract building blocks have cut market demand for protocols like Hats, leaving the HATS token without long-term sustainable value backing. **Key next steps:** - Hats’ custodial front-end (UI) and back-end (server) will go offline by December 31, 2