A newly created wallet withdrew 42,225 ETH, worth approximately $120 million, from Binance on Dec. 1, Lookonchain data show. The transfer moved the funds from the exchange to the fresh address.

Two addresses linked to Abraxas Capital (0x5b5, 0xb83) transferred approximately $62 million to Hyperliquid on November 30 to increase HYPE spot holdings while hedging with 5x leveraged short positions, HyperInsight data show. As of December 1, the HYPE spot position stands at approximately $56.4 million, representing about half of the combined account balance across both addresses on Hyperliquid. The entity has been closing profitable short positions across multiple tokens since November, reducing total position size from $760 million on November 3 to $146 million, with partial withdrawals to on-chain wallets. Current major short positions include ETH at $82.02 million with $19.97 million unrealized profit (245%) and HYPE at $62.39 million with $22.59 million unrealized profit (220%).

A whale address linked to prior shorting activity deposited 55,340 ETH (worth $157 million) as collateral on Aave on Dec. 1 and borrowed 50 million USDT, on-chain analyst Ai Yi reports. The borrowed stablecoins were transferred to Binance within 10 minutes. The purpose of the transaction was not disclosed.

Binance Alpha will list RAYLS (RLS) on Dec. 1 at 19:00 UTC+8, with Alpha trading to begin simultaneously, the platform announced Dec. 1. Users holding at least 242 Binance Alpha points can claim an airdrop of 800 RLS tokens on the Alpha activity page, with the threshold decreasing by 5 points every five minutes while the campaign remains active. Claiming requires 15 Binance Alpha points and must be confirmed within 24 hours, or eligibility will be forfeited.

BitMEX co-founder Arthur Hayes raised concerns about Tether's collateral structure on Dec. 1, responding to CEO Paolo Ardoino's disclosure that the company generates approximately $500 million monthly from U.S. Treasury holdings. Hayes stated on X that while Tether's profitability is strong, uncertainty remains regarding dividend policies and target over-collateralization ratios based on asset types and volatility. He noted that if Tether's liabilities are backed by U.S. Treasuries, risks are minimal; however, if the stablecoin issuer holds illiquid private investments as assets, any unexpected event could trigger market skepticism about its over-collateralization claims.

Compliance-focused blockchain ecosystem Rayls disclosed its token economics on December 1, setting a fixed total supply of 10 billion RLS tokens with 1.5 billion (15%) to be distributed at the Token Generation Event, BlockBeats reports. The allocation structure designates 22% to investors, 11% to early developers, 17% to the core team, and 35% to foundation treasury and community initiatives. Rayls confirmed it will not conduct over-the-counter buybacks; instead, each on-chain transaction will trigger an automatic burn mechanism where 50% of fee revenue is immediately burned and the remaining 50% directed to the Rayls Foundation community incentive wallet to support validators, builders, and ecosystem growth. Coinbase previously added Rayls to its listing roadmap, with the TGE scheduled for December 1.

A whale address allegedly linked to HYPE listing insider information holds an unrealized loss of $10.87 million on a 5x leveraged long position, HyperInsight data show on Dec. 1. The position has an average entry price of $39.18 and faces liquidation at $22.84.

Trader pension-usdt.eth opened a short position on 6,358 ETH valued at $18 million with 2x leverage on December 1, lookonchain data show. The position has generated an unrealized profit of $1 million. The transaction was executed on-chain.

A whale address (0x9ee) holds approximately $149 million in ETH long positions at an average entry price of $3,201 and $80.8 million in XRP longs at $2.29, facing combined unrealized losses of $26 million, HyperInsight data show on December 1. The ETH position shows an unrealized loss of $18.32 million with liquidation at $2,443, while the XRP position has unrealized losses of $8.11 million. The address previously held the largest ASTER short position with 3x leverage on November 2 after CZ's purchase, closed at breakeven on November 17, then shifted to ETH longs and experienced partial liquidation on November 21 resulting in $7.3 million in realized losses.