Decentralized exchange SushiSwap announced a leadership transition on December 1, with Synthesis founder Alex McCurry purchasing over 10 million SUSHI tokens worth approximately $3.34 million and assuming operational control. Outgoing CEO Jared Grey, who led the protocol for three years through regulatory scrutiny and governance disputes, will transition to an advisory role. The platform described the change as part of positioning for expansion, citing profitability goals and product development plans.

Bitcoin dropped below $86,000, erasing approximately $240 billion from the cryptocurrency market. Data show large holders have reduced their accumulation rate while smaller retail wallets increased purchasing activity. Strategy acquired an additional 130 BTC for around $11.7 million, bringing total holdings to 650,000 BTC.

South Korean lawmakers have set a December 10 deadline for regulators to submit a draft stablecoin bill. If the Financial Services Commission fails to deliver, legislators plan to advance independent legislation. The debate centers on whether banks or technology firms should lead issuance of won-pegged stablecoins.

Hedge fund manager Michael Burry described Tesla as "ridiculously overvalued" in a Substack post published Sunday, citing the company's trading multiple of 209 times forward earnings. Burry highlighted concerns about shareholder dilution, noting that Tesla dilutes its stock by 3.6% annually through compensation without offsetting buybacks. He warned that Elon Musk's $1 trillion pay package, approved by shareholders last month, will exacerbate the dilution.

Binance users purchased 6,870 BTC valued at approximately $628 million when Bitcoin traded above $91,400, while long-term holders reduced positions, data show. Short-term holder realized cap hit $51 billion on November 23, the highest since December 2024, as long-term holder realized cap fell by $47 billion. The pattern has preceded market corrections in December 2024 and March 2024.

Forward Industries, which holds the largest Solana treasury among publicly traded companies, has appointed Ryan Navi as chief investment officer to oversee its SOL strategy. The company's holdings have declined more than 40% in value since their mid-September acquisition. Navi previously served as managing director and head of venture at ParaFi Capital.

The Bank of Israel announced enhanced regulatory oversight of stablecoins, with Governor Amir Yaron identifying them as a systemic force in global finance. The move came during a Tel Aviv conference where officials presented an updated timeline for the country's central bank digital currency project. The sector has reached a market capitalization exceeding $300 billion with monthly transaction volumes surpassing $2 trillion, according to Yaron.

Bitcoin's sharp selloff has prompted three distinct interpretations from market analysts. Arthur Hayes attributes the decline to Bank of Japan rate-hike signals affecting yen liquidity during Asia-Pacific trading hours. Nik Algo argues the drop resulted from algorithmic rebalancing at UTC day, week, and month boundaries. Peter Brandt warns the rally structure mirrors historical parabolic cycles that preceded 75% drawdowns.