S&P 500 Index Strategy Underperformance

On November 25th, according to the monitoring of Hyperinsight, "Buddy" continued to increase its HYPE long position by more than 10 times this afternoon. As of the time of composition, its position has risen to 72,000 coins, and the position value is $2.375 million. In addition, it also made a slight increase in its ETH long position. Currently, its total position value is $1.58 million.

On November 25th, the decentralized GPU cloud infrastructure Aethir disclosed data. Its revenue in Q3 2025 reached $39.8 million, and the Annual Recurring Revenue (ARR) exceeded $147 million. Currently, the Aethir network has deployed more than 435,000 enterprise-grade GPU containers (covering H100, B200, etc.), delivered more than 1.4 billion hours of compute services. Its clients include Kluster.ai, Attentions.ai, and others. In addition, Aethir completed a $344 million ATH token strategic investment in October and launched a Digital Asset Treasury (DAT). Currently, it holds 5.7 billion ATH tokens and plans to use mining service revenues for token buybacks to establish a positive economic cycle.

November 25th. According to an official declaration, Binance Alpha will remove the following tokens from its trading platform on November 25, 2025, at 17:00 (UTC+8): CELB, AIBOT. Based on on-chain data, Binance has discovered that the circulating supply of these project tokens has exceeded the intended token unlock schedule set by the project teams. In order to protect the interests of users, it has been decided to delist these tokens from Alpha. As of November 25, 2025, at 17:00 (UTC+8), users holding these tokens on Binance Alpha 2.0 will have their tokens converted into USDC at the following exchange rates: 1 CELB = 0.00007042 USDC; 1 AIBOT = 0.00042472 USDC. The conversion rates are based on the closing prices on November 24, 2025. The equivalent USDC will be credited to users' spot accounts within 3 days.

November 25th. As per an official announcement, OKX is going to list DASH spot trading. DASH/USDT spot trading will start on November 26, 2025, at 20:00 (UTC+8).

On November 25th, according to HTX market data, Bitcoin briefly dropped below $87,000 and is currently trading at $87,011.