Peter Schiff, a vocal cryptocurrency critic, launched T-Gold.com on December 4, enabling users to purchase physical gold and silver convertible into blockchain tokens. In a discussion with Binance founder Changpeng Zhao, Schiff acknowledged that tokenization enhances gold's transportability, divisibility, and fungibility while maintaining its store-of-value properties. Despite adopting blockchain infrastructure, Schiff maintained his skepticism toward digital currencies without physical backing.

Bitcoin's failure to break through $94,000 on December 3 has left more than a quarter of circulating supply in unrealized loss. On-chain data show the cryptocurrency fell below the 0.75 cost-basis quantile in mid-November, a threshold where three-quarters of supply remains profitable. The current structure presents elevated risk as price remains below critical cost-basis levels identified by quantile analysis.

The U.S. Commodity Futures Trading Commission authorized spot cryptocurrency trading on federally regulated exchanges for the first time. Acting Chairman Caroline D. Pham announced December 4 that CFTC-registered futures exchanges may now list spot digital assets under federal supervision. The decision ends decades of state-level-only oversight and opens institutional access to compliant spot crypto markets.

Ethereum activated its Fusaka upgrade on December 3 at slot 13,164,544, implementing execution-layer optimizations without disrupting network operations. The network maintained 995,908 active validators and 35.63M staked ETH immediately following activation. ETH traded above $3,150 after the upgrade deployment.

Strategy, the largest corporate Bitcoin holder, reduced its acquisition to 9.1K BTC in November 2025, down 93% from 134.5K BTC purchased in November 2024, according to CryptoQuant data. Through early December 2025, the company acquired just 135 BTC, marking one of its slowest buying periods in recent years. The decline follows a consistent downward trend throughout 2025, with monthly purchases falling from 59.7K BTC in December 2024 to current levels.

Bitcoin is testing the $93,000 level for the second time in under a week. Derivatives data show significant short-liquidation clusters forming between $92,500 and $94,000. The concentration of overleveraged short positions could trigger forced buying if upward momentum continues.

Major altcoins posted double-digit gains with Ethereum rising 10%, Solana up 12%, and Sui surging 21% following a sentiment reversal. The CMC Altcoin Season Index remains at 21/100, indicating Bitcoin continues to dominate market flows. Altcoin market capitalization has declined from $1.36 trillion to $1.29 trillion over seven consecutive days.

Aave V3 deployed on Mantle Network on December 2, bringing lending infrastructure to the Layer-2 platform. A governance proposal shows the DAO is considering shutting down deployments on zkSync, Metis, and Soneium, which generate between $3,000 and $50,000 in annual revenue. The proposal also sets a $2 million revenue threshold for future chain expansions.

XRP declined more than 6% to approximately $2.02 on December 1 amid heavy selling by large wallet holders. On-chain data show wallets controlling between 1 million and infinity tokens reduced holdings sharply, reversing months of accumulation. The distribution trend, visible since September, accelerated through the final week of November.