November 30th, the dYdX community proposed a new initiative called the "Liquidation Rebates Pilot Program." Starting on December 1, 2025, a one-month pilot program will be launched to reward traders who have experienced a liquidation event with points and rebates, with rewards of up to $1 million.

November 30th, according to Tokenomist data, Hyperliquid's first token unlock was conducted on November 29th at 15:30 Beijing time, unlocking 9.92 million HYPE tokens worth $312 million, accounting for 2.66% of the circulating supply. According to market data, there was no significant price fluctuation after this unlock, with HYPE now trading at $34.4, a 1.43% decrease in the past 24 hours, and a 7.9% increase for the week.This unlock is the first since the TGE in November 2024. According to the official Medium article, core contributor tokens were locked for one year post-TGE, with the majority of vesting scheduled between 2027 and 2028.Arthur Hayes previously elaborated on the reasons for selling HYPE on September 22nd: Large-scale unlocks are the "Sword of Damocles"

November 30th, according to CoinDesk, payment company Truther announced a partnership with Visa to launch an "unhosted" USDT Visa card. The card allows users to directly spend USDT held in their own wallets — no need for preloading, and does not rely on any third-party custody. At the time of payment, Truther will instantly deduct the corresponding USDT from the user's self-hosted wallet for real-time settlement.Truther stated that its long-term plans include expanding services to countries such as Argentina, Mexico, Colombia, Russia, and integrating more local stablecoins into its self-hosted wallet.

November 30th, Monad co-founder Keone Hon responded to "Arthur Hayes Suggests Monad May Experience a 99% Crash" by saying, "I have a lot of respect for all that you have done for this industry. In the past few days, I have seen you mention Monad multiple times. While I believe some of your comments may have been taken out of context, I thought you might be interested in understanding what sets Monad apart and why it is not just 'another L1.' Monad has adopted a lot of innovation, and the team is highly motivated. The ecosystem is just getting started, but there is already a large group of young, extremely eager builders developing new applications. If you'd like to try out the network with some MON, please let me know, and I'd be happy to send you some. Once again, thank you for your significant contributions to the industry. See you on-chain!"Previously, Arthur Hayes stated in an interview that Monad (MON) is "another high FDV (Fully Diluted Valuation), low circulating supply VC coin." This token structure itself poses a significant risk to retail investors and may experience a 99% crash. Typically, there is an early pump followed by a brutal sell-off after the token unlock for insiders. It could become another "bear chain." Arthur Hayes believes that most new Layer-1 networks will ultimately fail, with only a few managing to survive long term.

November 30th, according to on-chain analyst Ai Auntie (@ai_9684xtpa), the "1011 Insider Whale" has closed their ETH short position and made a profit of $55,000, with a final liquidation price of $2,989.85.Yesterday afternoon, the "1011 Insider Whale" opened a new 5x ETH short position with a position size of $15 million ($5,000 ETH), entry price of $3,001.81, and liquidation price of $5,056.

November 30th, BitMEX co-founder Arthur Hayes stated in an interview that Monad (MON) is "yet another high FDV (Fully Diluted Valuation), low circulating supply VC coin." This token structure itself exposes retail investors to significant risk, potentially leading to a 99% crash. Typically, there will be an early pump, followed by a brutal sell-off after insiders' token unlocks. It will become another "bear chain."Arthur Hayes believes that most new Layer-1 networks will eventually fail, with only a few surviving in the long term. He listed protocols he believes will survive the next cycle: Bitcoin, Ethereum, Solana, and Zcash.

on November 30, Dunamu & Partners, an investment subsidiary of Dunamu, the parent company of South Korea's largest cryptocurrency exchange Upbit, announced its digital asset holdings as of November 2025. The institution, whose invested digital assets have been traded on Upbit, will undergo a lock-up period of at least three months from the beginning of trading and will publicly disclose its holdings at the end of each month to maintain transparency. This month's disclosure shows that Dunamu & Partners currently holds 2081.84950412 BTC.

November 30th. According to Cointelegraph, U.S. SEC Commissioner Hester Peirce said in an interview that the "self-custody" of crypto assets and financial privacy are fundamental rights. She emphasized, "Why should I be forced to custody my assets through someone else? People should have the right to self-custody their assets. Forcing asset custody to a third party is bewildering; online financial privacy should be the default state, not default public."These remarks come as the "CLARITY Act" (Crypto Market Structure Act) faces a delay in its review until 2026. The act was originally intended to include provisions on crypto asset "self-custody rights," anti-money laundering rules, asset classification, and other regulations.

November 30, according to LookIntoChain monitoring, a newly created address associated with Bitmine received 16,693 ETH from FalconX this morning, worth $50.1 million.

November 30th, according to LookIntoChain monitoring, a dormant Ethereum ICO address that has been inactive for over 10 years, "0x2dCA," was activated this morning. It transferred 5 ETH to a new address for testing and then moved the remaining 39,995 ETH, worth approximately $1.194 billion.This address originally purchased 40,000 ETH for about $12,400 during the ICO phase, resulting in a cumulative return of approximately 9,639x based on the current price.