Expand MicroStrategy CEO: We Remain Confident Even in a Bear Market In an interview with What Bitcoin Did on November 28, 2025, MicroStrategy CEO Phong Le stated that accessing capital markets during a bear market is far more difficult than during a bull market, and the company cannot raise funds as easily as before. The introduction of preferred shares such as Stretch aims to enable MicroStrategy to secure funding even when Bitcoin prices are flat or volatile. He noted that MicroStrategy has built a Bitcoin fund management framework over the past five years that operates effectively in both bull and bear markets, and newly issued preferred shares must undergo similar "stress testing." Facing a potential new market downturn, the company will continue to pay dividends to steadily build investor confidence and pave the way for future funding, further solidifying its position as a Bitcoin fund management and credit issuer capable of navigating complete market cycles. Source:

Expand A friend of mine who runs a Web2 business asked me: "Is there anything like Yu'ebao (a popular Chinese money market fund), where you can just leave it idle and still access it anytime?" I immediately showed him Arbitrum. The mainnet is like an old road—it gets congested easily. Arbitrum, on the other hand, is like an elevated highway—it can handle real volume (4,500+ TPS), has a vibrant ecosystem (lots of Orbit L3 servers), and mature rules (DAO + Rollup), which is why institutions dare to participate. I thought RWAs would all collapse once subsidies stopped, but Theo Networks' thBILL on Arbitrum is still going strong even after subsidies stopped: TVL of $103 million, steadily increasing trading volume over 7 days, AUM back above $200 million, and even has recurring transactions. With Standard Chartered custody, AAA assets, and over $100 million in principal, I'm now more optimistic about the combination of Arbitrum and Theo Networks, and with the addition of ERC-4626 and ArbOS 50, this is just the beginning.

Expand Breakpoint Day 3 was entirely community-driven. The arena was transformed into a freight hub, showcasing the incredible industrial diversity of the Solana community—from whiskey and tickets to hardware, uranium, rare earth minerals, gaming, aviation, artificial intelligence, and intellectual property—the Solana community is all-encompassing. 📰 News Headlines - JPMorgan's Scott Lucas points to "strong momentum in internet capital markets on Solana" - WisdomTreePrime brings tokenized RWA to Solana - Uraniumdigital provides institutional investors with access to tokenized physical uranium - Arcium demonstrates robust privacy features - Ripple executive Luke Judges expresses support for the XRP launch on Solana - Colosseum awards grand prize to Unruggable - Bybit partners with Byreal - Render Network launches user-facing brand Dispersed - Rockaway X announces three select vaults launching in January - Solflare demonstrates Magic AI for natural language wallet interaction 📰 News - Aurory Project releases trailer for Amiko Legends - SquadsProtocol launches Smart Trading for autonomous finance - @MeridianApp demonstrates a smart conversational analytics and trading tool - @wormdotwtf launched its first leveraged product for prediction markets - @humafinance partnered with Obligate and TradeFlow to enable global commodity trading - @helium expanded its network reach to Mexico and Brazil - @sanctumso publicly unveiled their app for the first time - @seedplex_io launched risk tokens for collective SAFE purchases - @ZeusNetworkHQ launched Zeus MPC - @talamobile provides trustless lending services to over 10 million users - @Dune achieved complete control over its data pipeline through the DBT connector - @nansen_ai launched an AI-powered pocket hedge fund advisor - @formacity showcased a Solana-centric transformation case study in Kazakhstan - @sendaifun teased the launch of Suzi, an AI investment banker - @virtuals_io expanded to Solana through @blueshift - @BAXUSco launched a product for RWA Decentralized Price Mapping Layers - @Layer_33_ launched LST IndieSOL - @wingbits released an AI layer for querying aviation data - @streamflow_fi issued USD+ and pays out yield daily in real time - @solanamobile partnered with a manufacturer that supplies chips for over 2 billion Android phones - @SplyceFi launched a yield token backed by real cash flow - @Anchorage launched VisualSign for decoding complex on-chain transactions - @neukoai launched its flagship IP GBOY with over 100,000 community assets - @moonbirds joined @vibes_tcg and announced BIRB TGE - @KYDLabs launched @tixprotocol for tokenizing tickets - @glider_fi launched its AI-powered investment app - @xelio_xyz created a text-based banking and WhatsApp payment network - @heliuslabs A new API for analyzing transaction history has been launched - @PerleLabs released Perle Labs Creator

Expand I was chatting with friends over tea about trading recently, and the truth is, most people in the crypto world don't lose to the market, but to themselves. For a while, I was glued to the screen every day. A single candlestick could send my emotions soaring and plummeting. I was afraid of missing out on gains if it went up, and afraid of being stuck with losses if it went down. The result was chaotic and increasingly disorganized trading. Later, I realized the market wasn't targeting me; it was just normal fluctuation. I treated every tremor like my last. Many people also fall in love with leverage, thinking they can get rich overnight. The result: their accounts go to zero before their mindset does. Others lack position management and planning, relying entirely on intuition, impulse, and the belief that tomorrow will be better. Honestly, the biggest opponent for retail investors isn't institutions, but our limited ability to withstand volatility. Only by remaining calm can we have a chance. Without calm, no method will work. #btc

Expand Bitcoin: Institutional Technical Analysis, Price Levels, Education, and Forecasts

Expand Why the Supercycle? The cryptocurrency supercycle of 2026 is driven by a combination of factors: post-halving scarcity, surging institutional demand, and favorable macroeconomic conditions.

Expand OKX has accused @MANTRA_Chain of misleading $OM holders and has frozen their accounts, sparking a legal dispute over OM migration and custody issues. @okx claims that Mantra spread misleading information about OM, with multiple linked accounts using large amounts of OM as collateral to borrow USDT, artificially inflating the OM price and ultimately causing a crash. OKX stated that its risk team discovered this behavior and demanded rectification, but after account holders refused, OKX took over the relevant accounts; only a small amount of OM was liquidated, with the losses borne by the OKX Security Fund. Third-party analysis cited by OKX indicates that the price crash was primarily caused by continuous trading outside the OKX platform. Mantra CEO JP Mullin urged OM holders to withdraw their tokens from the OKX platform, questioning OKX's proposed migration timeline (claiming that ERC-20 OM cannot be migrated before its deprecation on January 15, 2026), and confirming that the protocol-level repricing (1:4) requires no user intervention. On December 10th, OKX sent a letter refuting Mullin's public statements and has submitted evidence to regulators. Multiple legal proceedings are currently underway, leading to uncertainty regarding the migration details for OM holders and the exchange's custody arrangements. (AI Analysis) OKX accuses individuals of conspiring to use OM as collateral to borrow USDT and claims that OKX froze related accounts after holders refused to correct the situation; however, only a small amount of OM was liquidated, with losses borne by OKX's securities fund. Mantra's CEO has disputed the migration timeline and urged users to withdraw their funds. Meanwhile, OKX has submitted evidence to regulators, and multiple legal proceedings are ongoing, creating uncertainty for OM holders regarding custody and migration.

Expand #Binance VIP Indication of Interest (IOI) Feature Officially Launched 🚀 👑VIP and institutional users can privately express their buy/sell/borrow/lend intentions to the OTC team, gaining early access to off-exchange liquidity. 🔹Supports spot IOI & lending IOI 🔹Non-public matching, avoiding market exposure 🔹Suitable for large-scale, sensitive, and low-liquidity scenarios 🔹Pre-confirmation of counterparty interest improves execution efficiency Explore a smarter, more flexible way for institutional traders 👇

Expand Tom Lee's most important audience is institutional investors, not people in the crypto community. Once institutional investors understand the value of Ethereum, they will have the confidence to involve their client base. Therefore, for Tom Lee, what people in the crypto community think is unimportant; what matters is how institutions understand his message.

Expand This whale/institution, which recently shifted its BTC to ETH holdings, today exchanged another 163 BTC for 4,717 ETH ($14.68 million) via THORChain. Since November 25th, over 18 days, they have exchanged a total of 1,632 BTC for 48,364 ETH ($145 million), with an average cost of $3,011 per ETH. The receiving address for the exchanged ETH is: 0x9F619C4F0E0519ead0aA4F35ceA7aF313D35A87c