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Sonnet Biotherapeutics Receives Shareholder Approval to Merge with Hyperliquid Strategies

59 minutes ago

December 2 — Per market sources, Sonnet Biotherapeutics has secured shareholder approval for a merger with Hyperliquid Strategies.

Earlier reports indicated Hyperliquid Strategies plans to raise up to $1 billion, with proceeds earmarked for purchasing HYPE and other uses.

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The U.S. Money Market Asset Size Exceeds $8 Trillion for the First Time

U.S. money market assets topped $8 trillion for the first time on December 2nd, Crane Data reported. (Xinhua News Agency)

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Nine-Time Winning Trader Suffers First Defeat, Closing Out Short Position with Over $1.78 Million in Losses

December 2nd: Per LookOnChain monitoring, 9 straight profitable traders just closed out their positions, incurring losses of over $1.78 million when exiting a 40x-leveraged 500 BTC short position. Across their 9 consecutive winning trades, they’d banked $2.12 million in profits. But this single short trade alone racked up losses exceeding $1.78 million—nearly erasing most of their prior gains.

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Deutsche Bank: If the next Fed Chair fails to effectively address inflation risks, the US Dollar may face downward pressure

**December 2nd** Deutsche Bank analyst Antje Praefcke noted the U.S. dollar could face downward pressure if the next Federal Reserve chair heeds U.S. President Trump’s calls for rate cuts amid high inflation. Expected nominee Kevin Hassett—current White House National Economic Council director— is viewed as a Trump loyalist, boosting the odds of a Fed rate cut, per Praefcke. She added that failure to effectively contain inflation risks would hurt the currency. While this scenario hasn’t materialized yet, Praefcke said “merely market expectations the Fed may take a more dovish stance on inflation are enough to pressure the U.S. dollar.” (Source: FXStreet)

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OpenAI is developing a large language model named "GARLIC."

On December 2, The Information reported that OpenAI is working on a large language model named "GARLIC".

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Bitcoin Surges Above $90,000

Bitcoin has rebounded above $90,000 as of Dec. 2, per HTX market data. It’s currently trading at $90,045, with a 24-hour gain of 4.86%.

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Chicago Mercantile Exchange (CME): CME Clearing of Securities Expected to Launch in Q2 2026

Golden Finance: On December 2, the Chicago Mercantile Exchange (CME) announced that CME Clearing is slated to launch in Q2 2026.

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