TRON Foundation and HTX have completed a HKD 10 million donation to support the Hong Kong Tai Po fire relief efforts.

December 2 – The cryptocurrency market selloff is intensifying, with Bitcoin and other digital tokens seeing a broader downturn spanning all high-risk trade markets, per a *The Wall Street Journal* report. In recent months, unprofitable tech firms, speculative shell companies, and "meme" assets have fallen out of favor. Patrick Horsman, Chief Investment Officer at crypto asset manager BNB Plus, noted investors are cutting risk exposure as they grow more pessimistic about the market and economic outlook. “I think Bitcoin could fall all the way back to $60,000,” Horsman said. “We don’t think the pain is over yet.” Boom-and-bust volatility has defined the crypto industry since its early days. In past “crypto winters,” Bitcoin and other top digital assets shed up to 80% of their value before rebounding. Each prior cycle—including the 2022 downturn—was partly driven by investor fears of widespread fraud. The current selloff, which has calmed some and confused others, stands out

**Dec 2 (Bloomberg) — Federal Reserve officials are debating where to pause after cutting interest rates by more than one percentage point, with internal dissent now at its highest level on record.** Over the past year, policymakers have shown the biggest divergence since at least 2012 (when the Fed began publishing its rate projections) on where rates should ultimately land. That rift has spilled into an unusually public debate: whether to cut again at next week’s meeting, and what actions to take afterward.

On December 2, Coinglass data reveals the top net outflows and inflows of cryptocurrency spot funds over the past 24 hours: **Largest Net Outflows:** - ETH: $126M - XRP: $116M - ZEC: $18.2M - COMP: $11.26M - DOGE: $10.9M **Largest Net Inflows:** - BTC: $21M - USDE: $5.26M - TRX: $5.21M - AAVE: $3.28M - HYPE: $3.09M

On December 2, Reuters reported that the European Stablecoin Association (ESA) has named Jan-Oliver Sell—formerly with Coinbase Germany—as its CEO. Floris Lugt, ING’s Head of Digital Assets, will serve as CFO, while Howard Davies, ex-Chairman of the UK’s NatWest Bank, has been tapped as Chairman. French lender BNP Paribas has also joined the alliance. Earlier this September, nine major European banks—including ING, Banca Sella, and KBC—announced plans to launch a euro stablecoin project regulated under MiCA, aiming to counter U.S. dominance in digital payments.

On December 2nd, data from DefiLlama reveals most perpetual DEXs (Perp DEXs) recorded a sharp rebound in 24-hour trading volume over the past day. Lighter, Aster, and Hyperliquid all saw volumes surge above $10 billion—marking their first such levels in nearly 10 days. Below are key metrics for select Perp DEXs: - **Lighter**: 24h volume ~$118.8B | TVL ~$12.2B | Open interest ~$16.1B - **Aster**: 24h volume ~$110.5B | TVL ~$14.1B | Open interest ~$26.5B (ref: https://www.asterdex.com/en-US/referral/aboter) - **Hyperliquid**: 24h volume ~$102.2B | TVL ~$42.8B | Open interest ~$59.2B (ref: https://app.hyperliquid.xyz/join/NTOD) - **EdgeX**: 24h volume ~$65.2B | TVL ~$4.2B | Open interest ~$7.56B - **ApeX**: 24h volume ~$27.5B | TVL ~$47.06M | Open interest ~$29.24M - **Variational**: 24h volume ~$14.7B | TVL ~$72.86M | Open interest ~$3.31B - **Backpack**: 24h volume ~$12.2B | TVL (not disclosed) | Open interest ~$1.96B - **Pacifica**: 24h volume ~$5.75B | TVL ~$41.28M |

On December 2, U.S. 10-year Treasury yields rose to 4.086%—a roughly 3.12% rebound from their recent low of 3.962%—driven by the Bank of Japan’s (BOJ) rate hike signal, per market data. Japanese investors are the largest foreign holders of U.S. Treasuries. The market broadly expects that when the BOJ lifts rates and Japanese Government Bond (JGB) yields climb (e.g., the 10-year JGB yield breaking the 1% threshold), Japanese capital will no longer need to absorb exchange rate volatility to buy U.S. bonds. Instead, they will sell U.S. Treasuries, repatriate funds to Japan, and purchase domestic bonds. Falling U.S. bond prices will push Treasury yields higher, raising global U.S. dollar borrowing costs and weighing on risk assets. The recent jump in 10-year U.S. Treasury yields reflects the market’s reaction to the BOJ’s rate hike signal.