The People's Bank of China convened 13 government agencies on November 28, 2025, to coordinate enforcement against resurgent virtual asset speculation. Officials identified stablecoins as tools for money laundering and illegal cross-border fund transfers, reiterating that cryptocurrencies hold no legal tender status in China. Hong Kong-listed crypto-exposed firms fell sharply following the announcement, with Yunfeng Financial Group dropping over 10%.

Israel is preparing stricter regulatory supervision of stablecoins as the Bank of Israel integrates them into the national payments framework. Governor Amir Yaron outlined heightened oversight requirements at a Tel Aviv conference, citing stablecoin market capitalization exceeding $300 billion and monthly transaction volumes surpassing $2 trillion. The central bank will release digital shekel recommendations by year-end, with a 2026 roadmap for implementation.

A whale known as the "1011 Flash Crash Shorter Insider Whale" borrowed 220 million USDT from Aave and transferred the funds to Binance through three addresses on December 1, 2025. The entity controls over 500 million USD in on-chain assets and previously profited from margin trades during the October 11 flash crash. The transfer has raised questions about potential market impacts on Bitcoin and Ethereum.

Digital asset investment products recorded $1.07 billion in net inflows for the week, ending a four-week outflow streak that totaled $5.7 billion, according to CoinShares data. Bitcoin products attracted $464 million while XRP set a weekly record with $289 million. Ethereum contributed $309.1 million to the recovery. The United States accounted for 93% of global inflows at $994 million.

Silver touched a record near $57.86 and has gained over 100% this year, while gold climbed above $4,240 per ounce. Bitcoin has declined more than 30% from its October peak near $126,000 and currently trades around $86,000, with crypto markets losing approximately $1 trillion in value over six weeks.

The cryptocurrency market lost $150 billion in the past 24 hours, with total capitalization declining from $3.10 trillion to $2.95 trillion. Bitcoin fell 5.07% to around $86,709, while Ethereum dropped 5.67% to $2,837. The selloff coincided with Japanese 2-year government bond yields rising above 1% for the first time since 2008, signaling expectations of a Bank of Japan rate increase.

Cryptocurrency markets posted their steepest monthly decline since February, with centralized exchange trading volumes falling to $1.59 trillion. U.S. spot Bitcoin ETFs recorded $3.48 billion in net outflows during November. Bitcoin dropped below $86,000 on December 1, triggering over $564 million in long position liquidations amid Bank of Japan rate hike speculation.

HashKey Holdings received approval from the Hong Kong Stock Exchange on December 1 to proceed with its initial public offering. The firm operates Hong Kong's largest licensed cryptocurrency exchange and holds regulatory permits allowing it to serve both institutional and retail clients. The company reported a net loss of HK$506 million in the first half of 2025, despite handling over three quarters of the region's onshore digital asset trading volume in 2024.