U.S. November ADP employment change at -32K, vs. 10K expected and 42K prior.

- Early December 2025 saw over $1B in leveraged Bitcoin bets liquidated as prices dropped below $86,000, with major exchanges reporting losses exceeding $160M each. - Sharp price swings and macroeconomic pressures like Japan's hawkish signals triggered cascading liquidations, exposing systemic risks in high-leverage crypto trading. - Institutional investors remained resilient amid the selloff, contrasting retail traders' margin calls and highlighting crypto ETF inflows as stabilizing factors during market

- Hyperliquid dominates 2025 DeFi perpetuals with $2.74T volume, rivaling Coinbase via HyperBFT's 200k TPS and sub-second finality. - Market share dropped from 73% to 38% as competitors like Aster emerged, though Hyperliquid maintains 62-63% Perp DEX open interest. - Governance innovations (HIP-1/3) enable permissionless listings while 93% fee buybacks and $5B TVL boost HYPE token value. - Regulatory risks and $4.9M security loss highlight vulnerabilities despite BlackRock/Stripe partnerships and SEC ETF a

- PENGU token surged past $0.0100 in late 2025, driven by Bitcoin rebound, whale accumulation, and Pudgy Penguins' project developments. - Technical analysis shows overbought RSI (73.76) and key support/resistance levels at $0.012-$0.0135, signaling potential volatility. - Market psychology blends speculative FOMO with strategic utility growth through "Pudgy Party" and NHL partnerships, though macro risks like Fed policy remain critical. - Analysts caution investors to balance short-term momentum with long

- The 2025 PENGU USDT sell signal exposed algorithmic stablecoins' fragility, triggering systemic risks through reflexivity and eroded trust. - The U.S. GENIUS Act excludes algorithmic stablecoins from regulatory frameworks, pushing them into a legal gray area with limited consumer protections. - Technical flaws like smart contract vulnerabilities and oracle dependencies exacerbate instability, compounding market confidence erosion during crises. - Investors now prioritize fiat-backed stablecoins, CBDCs, a