BitMEX founder Arthur Hayes warned that a roughly 30% decline in Bitcoin and gold holdings could eliminate Tether's equity buffer, potentially rendering USDT theoretically insolvent. Tether reported $181 billion in assets against $174 billion in USDT liabilities as of Q3, with $139 billion held in cash and cash equivalents. The warning follows S&P Global Ratings' negative assessment of USDT stability, citing increased exposure to Bitcoin and gold.

CryptoQuant CEO Ki Young Ju said Ethereum appears undervalued based on 10 of 12 valuation models. The median composite fair value suggests ETH should trade near $4,800, indicating a 59% discount from current levels around $3,000.

Ethereum co-founder Vitalik Buterin announced plans to increase the network's gas limit by five times in 2026, aiming to boost transaction capacity and lower Layer 2 costs. The upgrade would raise the current 60 million gas per block limit while implementing higher fees for resource-intensive operations to prevent node infrastructure strain.

Bitcoin has stabilized above $80,000 after a 30% decline, but options market data shows traders have lowered expectations for a traditional year-end rally. Bullish call positions have been adjusted downward with price targets capped below all-time highs, while risk metrics indicate negative sentiment persisting through year-end, according to Wintermute.

Texas established the first U.S. state strategic Bitcoin reserve with an initial $10 million allocation. On November 20, the state purchased $5 million worth of BlackRock's iShares Bitcoin Trust at $87,000 per BTC. The remaining $5 million has been reserved for future acquisitions.

Strategy (MSTR) could face approximately $8 billion in selling pressure if MSCI proceeds with index removal, according to TD Cowen analysis. The investment firm estimates $2.5 billion stems from direct MSCI holdings, with another $5.5 billion potentially at risk from other indexes. MSCI's review questions whether Bitcoin treasury companies qualify as operating entities for index inclusion.

Hyperliquid's team unstaked 10 million HYPE tokens worth $316 million ahead of a November 29 unlock event. The unlock represents 3.6% of circulating supply designated for founders and team members. Market participants show divided sentiment, with options data pointing to institutional hedging at $28 while exchange outflows suggest accumulation by retail holders.

Digital asset treasury companies face heightened scrutiny following a $45 billion contraction in crypto holdings during the fourth quarter. Industry participants defend the sector against claims of creating market selling pressure, with major treasury operators showing no evidence of liquidating positions despite holdings falling from $140 billion to $97 billion.

Solana introduced SIMD-0411, a proposal to increase the network's disinflation rate from 15% to 30% annually. The plan would reduce inflation from 4.5% to approximately 1.5% over three years, potentially removing 22.3 million SOL from the inflation schedule over six years. Community members have raised concerns about short-term impacts on DeFi yields, while supporters argue the measure could reduce selling pressure from stakers.