An address "surrendered" and closed a Bitcoin short position, losing 3.2 million US dollars

On December 3, music platform Fireverse announced it will launch its **Copyright Staking Pool** by the end of December, introducing a Real Yield-based revenue distribution mechanism to replace the traditional governance token model. Per official projections, Fireverse’s total music copyright revenue is expected to exceed $30 million in 2026 at the current growth rate. Of this, 50%—estimated at over $15 million—will be directly injected into the staking pool and distributed to liquidity provider (LP) holders. Since rolling out its "AI Co-creation" program in October, Fireverse’s content ecosystem has grown rapidly, yielding multiple hit singles including the collaborative track *City Light Dream* with Kay Tse. Total online streaming plays have topped 100 million, laying the groundwork for hitting the 2026 revenue target.

On December 3, Binance founder Changpeng Zhao—better known as CZ—congratulated Ha Yi on his appointment as Binance’s Co-CEO. “Ha Yi should have been Binance’s CEO from day one—eight years ago,” CZ said. “With two strong leaders whose abilities complement each other, Binance is set to embark on an even more exciting journey. Congratulations!”

As of Dec. 3, data from Coinglass shows that if Bitcoin breaks above $95,000, the cumulative short liquidation intensity across major centralized exchanges (CEX) will reach $5.98 billion. Conversely, should Bitcoin fall below $91,000, the cumulative long liquidation intensity on these same major CEX will hit $9.92 billion. **BlockBeats Note:** The liquidation chart does not display the exact number of contracts or their total value at risk of liquidation. Instead, the bars represent the **relative importance** of each liquidation cluster compared to nearby clusters—i.e., the intensity of potential liquidations if that price level is reached. In short, the chart shows how strongly a given price will impact the market. Taller "liquidation bars" mean hitting that price will trigger a more intense response due to a liquidity cascade.

**December 3rd** The UK has formally passed a bill recognizing digital assets—including cryptocurrency and stablecoins—as "property," per a Cointelegraph report. Advocates note this will provide stronger legal protection for crypto users. Lord John McFall, Lord Speaker of the UK House of Lords, said Tuesday the *Property (Digital Assets etc) Bill* has received Royal Assent (formal approval from King Charles III) and is now official law. Freddie New, Policy Lead at Bitcoin Policy UK, tweeted the bill’s passage is a "huge step forward for Bitcoin in the UK—a big win for everyone holding and using Bitcoin here." In the UK, common law (developed through judicial precedent) had already recognized digital assets as property. This bill, however, formally codifies that principle and implements recommendations from the 2024 Law Commission of England and Wales—for example, clearly defining crypto assets as a new form of personal property right to boost legal clarity.

As of December 3rd, Lookonchain data shows whale address 0x755b is still accumulating MON. Since MON’s listing, this address has spent 2.31 million USDC to acquire 70.64 million MON at an average price of $0.03267 — currently sitting on an unrealized loss of over $250,000. ### Notes on American English adjustments: 1. **"As of"** replaces the standalone date for clarity (signals the monitored status cutoff). 2. **"Accumulating"** is more natural than "continuously buying" in crypto/finance contexts. 3. **"Sitting on"** (casual, common in American financial discourse) replaces "facing" for a smoother tone. 4. **Abbreviations/conciseness**: Kept key details tight (no extra fluff, aligns with quick news style). 5. **Capitalization**: Properly capitalized "Lookonchain" (brand name) and used standard number formatting (no unnecessary commas in large numbers).

December 3rd: The U.S. November ADP Nonfarm Payrolls report is set for release tonight at 21:15 ET. With the Federal Reserve’s rate decision meeting next week, official nonfarm payrolls and inflation data are not scheduled for release ahead of the gathering. Against this backdrop of limited key economic guidance, tonight’s ADP report may be the Fed’s only window into the labor market. Market volatility is expected to surge significantly around the release, so investors should be mindful of associated risks. (Source: FX678)