What happened in Crypto in the last ~72h - MicroStrategy CEO said "Bitcoin will only be sold if mNAV falls below 1 and funding becomes unavailable" - China Making Plans to Crack Down on Crypto Payments and Stablecoins - Telegram CEO Pavel Durov announced that Cocoon is now live - Vitalik said he hopes '$ZEC resists the dark hand of token voting' - Arthur hayes, 'if 30% decline in the gold + $BTC down, USDT would be in theory insolvent.' - $HYPE (Hyperliquid)'s First Scheduled Cliff Unlock - $RLUSD has been greenlisted by Abu Dhabi’s FSRA - Ki young Ju, '10 out of 12 Ethereum valuation models say ETH is undervalued' - $WET (HumidiFi) Introduces Litepaper - $yETH by Yearn Finance was attacked Strategy stated that selling Bitcoin would be a 'last resort' only if mNAV drops below 1 and financing becomes unsustainable; CEO Phong Le clarified this as a financial contingency in extreme market conditions, not a policy shift or active selling plan. mNAV currently forms around 1.18 based on $87300 BTC price. China's regulators are intensifying their crackdown on cryptocurrency payments, warning that digital assets and stablecoins pose renewed risks to the financial system despite prior bans, with plans for stricter enforcement to prevent their use in payments and transfers. Cocoon, a TON-based decentralized AI inference platform, securely links GPU providers with privacy-focused apps needing AI model execution; upcoming weeks will expand GPU supply and developer demand, bringing Telegram users fully confidential AI features. $ZEC - Vitalik Buterin stated that he hopes Zcash resists adopting token voting, which he considers worse than its current governance model since privacy would likely erode over time if left to the median token holder. Basically, token holders need to explicitly "not be top dog". Arthur said Fed will cut rates which crushes their interest income. Arthur expected that A roughly 30% decline in the gold + $BTC position would wipe out their equity, and then USDT would be in theory insolvent. Tether CEO Paolo Ardoino replied to this, Tether had (at end of Q3 2025) ~7B in excess equity (on top of the ~184.5B stablecoin reserves) + another ~23B in retained earnings as part of our Tether Group equity. Hyperliquid’s first scheduled cliff unlock has taken place, releasing approximately $354M worth of $HYPE tokens (2.66% of the circulating supply) to core contributors and team members, with the next unlock scheduled for Dec 29. Ripple’s RLUSD recognized as Accepted Fiat-Referenced Token for use within Abu Dhabi’s ADGM. RLUSD is now eligible for use by Authorised Persons licensed by the FSRA to carry out applicable Regulated Activities. RLUSD is issued under a New York Department of Financial Services (NYDFS) and it has reached a market capitalization of over $1.2 billion since its launch Ki Young Ju said that Ethereum is undervalued, citing data from ETH Val, a tool developed by Hashed CEO Simon Kim. ETHval is a data platform where users can review these 12 different Ethereum valuation models in one place to estimate Ethereum’s intrinsic value. ETH is trading at $2820 as of now, below its estimated fair value. $WET - HumidiFi has released its litepaper ahead of its upcoming TGE, with the $WET token scheduled to launch on Dec 3 via Jupiter's Decentralized Token Formation (DTF) platform. $YFI, $yETH - Yearn Finance's yETH product suffered an exploit where the attacker minted nearly unlimited $yETH in one transaction to drain the pool, netting around 1,000 ETH (~$3M) some of which was sent to Tornado Cash, though Yearn Vaults (V2 and V3) remain unaffected as the investigation continues.