[Importance Score: 9/10] Upbit Exchange Suspends Operations Following $36 Million Hack Upbit, South Korea's largest cryptocurrency exchange, has suffered a major security breach resulting in the unauthorized transfer of approximately $36 million worth of assets from its Solana hot wallet. In response to the suspicious outflows, the exchange immediately suspended all crypto deposits and withdrawals to prevent further losses. The stolen funds primarily consist of Solana (SOL) and various SPL tokens, which attackers have reportedly begun moving through mixing services to obscure their trail. While Upbit has assured users that the majority of assets held in cold storage remain secure and unaffected, the incident has caused significant alarm across Asian markets. The breach is one of the largest security incidents in late 2025, reigniting concerns about the vulnerability of centralized exchanges (CEXs) to sophisticated cyberattacks. Market analysts expect this event to trigger stricter regulatory scrutiny from South Korea's Financial Services Commission (FSC). The price of Solana faced immediate selling pressure following the news, although it has since stabilized. Upbit has stated that services will remain halted until a comprehensive security audit is completed and has hinted at a compensation plan for affected users. Source: https://cointelegraph.com/news/what-happened-in-crypto-today

[Importance Score: 8/10] Bitcoin Holds Above $90k as Tom Lee Dials Back $250k Prediction As Bitcoin struggles to maintain momentum above the $90,000 mark, Tom Lee of Fundstrat, one of the industry's most prominent bulls, has tempered his expectations. Lee revised his widely cited year-end price target of $250,000, stating that reaching this all-time high in 2025 is now only a "maybe" rather than a high-conviction call. The cryptocurrency is facing stiff resistance near $95,000-$100,000, with miner selling and leveraged liquidations capping upside potential. Analysts warn that failure to break through these resistance levels could lead to a sharp correction back towards the $80,000 zone. Despite the cautious price action, Open Interest in futures markets remains high, suggesting that institutional interest has not waned. The market appears to be in a waiting game, looking for macroeconomic catalysts or clearer signals from the Federal Reserve regarding interest rates. Lee's shift in tone has dampened sentiment among retail investors who were anticipating a parabolic year-end run. However, technical indicators suggest the long-term bull trend remains intact, provided spot buying volume returns to support the price. Source: https://cointelegraph.com/tags/bitcoin

[Importance Score: 7/10] SpaceX Moves $105 Million in Bitcoin, First Activity Since 2022 SpaceX has triggered a wave of speculation after on-chain data revealed the transfer of approximately $105 million in Bitcoin to unmarked wallets. This marks the first significant movement of the company's Bitcoin holdings since 2022, raising questions about Elon Musk's current strategy regarding digital assets. It remains unclear whether this transfer represents an intent to sell, an Over-The-Counter (OTC) deal, or simply an internal custody reorganization for security purposes. Given the history of Tesla and SpaceX influencing market sentiment, this move has introduced a degree of "FUD" (Fear, Uncertainty, and Doubt) among traders. Analysts note that the funds have not yet been deposited into known exchange addresses like Coinbase or Binance, which typically signals an immediate sale. However, the timing of the move—while Bitcoin consolidates around $90,000—is sensitive. If these coins were to be sold on the open market, it could create a liquidity shock. The lack of official communication from SpaceX leaves the market guessing, highlighting the impact of corporate whales on crypto volatility. Source: https://www.theblock.co/post/380724/the-daily-upbit-suffers-37-million-hack-spacex-moves-over-100-million-in-bitcoin-infinex-plans-token-sale-on-sonar-and-more

[Importance Score: 7/10] Abu Dhabi Regulator Approves Ripple's RLUSD Stablecoin In a significant regulatory win, Ripple has received approval from the Abu Dhabi Global Market (ADGM) regulator for its RLUSD stablecoin. This authorization allows licensed financial firms within the ADGM jurisdiction to utilize Ripple's dollar-pegged stablecoin for institutional transactions and payments. The move aligns with the UAE's broader strategy to position itself as a global crypto hub and provides Ripple with a strategic foothold in the Middle East. RLUSD is designed to compete with market leaders like USDT and USDC, specifically targeting enterprise and cross-border settlement use cases. While XRP price saw a modest uptick on the news, the broader market impact was limited by general stagnation. Brad Garlinghouse, Ripple's CEO, hailed the approval as a milestone for the convergence of traditional finance and blockchain. This regulatory clarity in Abu Dhabi stands in stark contrast to Ripple's ongoing legal challenges in the United States. Experts believe this could drive significant institutional liquidity onto the Ripple network from the MENA region. Source: https://cointelegraph.com/tags/cryptocurrencies

[Importance Score: 6/10] Ethereum Raises Gas Limit to 60 Million Ahead of 'Fusaka' Upgrade The Ethereum network has successfully increased its block gas limit to 60 million, a strategic move executed ahead of the upcoming "Fusaka" upgrade. This adjustment is designed to increase the network's throughput (transactions per second) and reduce congestion-related gas spikes during periods of high demand. Vitalik Buterin has championed this increase as a necessary step in Ethereum's scaling roadmap, helping to balance the load between Layer-1 and Layer-2 scaling solutions. While the increased gas limit places a heavier computational burden on validators, developers are confident that current node infrastructure can handle the load. The upgrade is expected to be particularly beneficial for the DeFi and NFT sectors, which often suffer from prohibitive fees. However, some critics argue that larger blocks could accelerate "state bloat," potentially making the network more centralized by raising the barrier to entry for running a node. Despite these concerns, the move is seen as a net positive for Ethereum's competitiveness against high-speed chains like Solana. Source: https://www.theblock.co/latest-crypto-news

[Importance Score: 6/10] Do Kwon Requests 5-Year Prison Cap in Terra Fraud Case Do Kwon, the disgraced co-founder of Terraform Labs, has formally requested a cap of five years on his prison sentence in relation to the collapse of the Terra ecosystem. The request was made via his legal team in filings related to his fraud case, arguing for leniency despite the catastrophic $40 billion loss incurred by investors. This legal maneuver has sparked outrage across the crypto community, with many victims viewing a five-year term as woefully insufficient for the scale of the alleged fraud. Prosecutors continue to push for a much harsher sentence, citing the systemic damage caused by the de-pegging of UST and the collapse of LUNA. The jurisdiction of his final sentencing remains a complex issue involving extradition treaties between Montenegro, South Korea, and the United States. Legal experts suggest Kwon is attempting to negotiate a plea deal or leverage international legal ambiguities to minimize his time behind bars. The outcome of this request will set a major precedent for how crypto executives are held accountable for ecosystem failures. Source: https://www.theblock.co/post/380724/the-daily-upbit-suffers-37-million-hack-spacex-moves-over-100-million-in-bitcoin-infinex-plans-token-sale-on-sonar-and-more

[Importance Score: 6/10] Spain Proposes 47% Crypto Tax, Slammed as 'Attack on Bitcoin' A junior partner in Spain's coalition government has proposed a drastic new tax bill that would levy a 47% tax on cryptocurrency gains. The proposal has been met with fierce opposition from industry leaders and local investors, who have labeled it an "attack against Bitcoin" and digital innovation. If passed, this legislation would make Spain one of the most tax-hostile jurisdictions for crypto in Europe, potentially driving talent and capital to more friendly neighboring countries. Proponents of the tax argue it is necessary to curb speculative excess and ensure fair contribution to the public purse. However, critics warn that such punitive rates will simply drive the market underground, encouraging tax evasion rather than compliance. The proposal comes at a time when the European Union is trying to harmonize regulations via MiCA, and unilateral tax hikes could disrupt this unity. Lobbying efforts are already underway to block or amend the bill before it reaches a final vote. Source: https://cointelegraph.com/category/latest-news

[Importance Score: 5/10] JPMorgan Accused of 'Rigging' Market with New Leveraged Bitcoin ProductJPMorgan has filed with the SEC to launch a new leveraged Bitcoin financial product, drawing immediate ire from the Bitcoin community. Critics accuse the banking giant of attempting to "rig the game" by introducing instruments that facilitate large-scale shorting and volatility suppression. The filing is particularly controversial given CEO Jamie Dimon's history of dismissing Bitcoin as a fraud. The proposed product would allow institutional investors to gain amplified exposure to Bitcoin's price movements, but skeptics argue it introduces "paper Bitcoin" that dilutes true price discovery based on spot demand. Concerns focus on the potential for this product to be used to cap Bitcoin's price rallies through strategic short-selling. While the SEC has yet to approve the filing, the move signals Wall Street's deepening—and complex—involvement in the crypto derivatives market. Supporters counter that such products are standard in mature asset classes and provide necessary hedging tools for institutions. Source: https://cointelegraph.com/news/what-happened-in-crypto-today

[Importance Score: 5/10] BlackRock Bitcoin ETF Investors Return to Profit as Price Reclaims $90k Following Bitcoin's recovery above $90,000, the vast majority of investors in BlackRock's iShares Bitcoin Trust (IBIT) have returned to a profitable position. This data point highlights the resilience of the new cohort of institutional investors who entered the market via ETFs in 2024 and 2025. Unlike retail traders who often panic sell during dips, ETF flows remained relatively stable during the recent price correction, suggesting a longer-term investment horizon. The return to profitability is expected to boost sentiment and potentially attract a fresh wave of capital inflows as the year ends. BlackRock's continued accumulation of Bitcoin underscores the asset's growing acceptance as a legitimate portfolio diversifier. Analysts view the profitability of these positions as a key support level; investors are less likely to sell when their positions are in the green and the market outlook is bullish. This stability is crucial for Bitcoin to maintain its valuation above the $90,000 threshold. Source: https://cointelegraph.com/tags/bitcoin

[Importance Score: 4/10] Infinex Announces 'Sonar' Token Sale Ahead of 2026 TGE Infinex, the decentralized exchange interface project championed by Synthetix founder Kain Warwick, has announced its "Sonar" token sale. This fundraising event is designed to precede the project's official Token Generation Event (TGE) scheduled for 2026. Infinex aims to bridge the gap between the ease of use of centralized exchanges and the security of on-chain DeFi protocols. The "Sonar" sale will allow early community members and supporters to secure allocation of the future governance token. Warwick has positioned Infinex as a "superapp" that could solve crypto's notorious user experience (UX) problems. The project previously raised over $67 million in a "Patron" NFT round, and this new sale seeks to further capitalize the treasury for development and marketing. By prioritizing community sales over traditional VC rounds, Infinex is attempting to build a loyal and decentralized user base from the ground up. Source: https://www.theblock.co/post/380724/the-daily-upbit-suffers-37-million-hack-spacex-moves-over-100-million-in-bitcoin-infinex-plans-token-sale-on-sonar-and-more