Ethereum Launches Fusaka Upgrade

️ On today's Top Picks:

Crypto News

• ⭐️ Ethereum $ETH launches Fusaka upgrade; introduces PeerDAS, phased blob expansion, & more; Glamsterdam upgrade expected in 2026.

• ⭐️ Binance $BNB appoints Yi He as Co-CEO; previously Chief Customer Service Officer at Binance; co-founded Binance with Changpeng "CZ" Zhao.

• Optimism $OP launches Upgrade 17 Jovian Hard Fork; co-developed by OP Labs & Base; introduces an in-protocol DA cap, fee-market improvements, & more.

• Kraken acquires Backed, the issuer of xStocks, for an undisclosed amount; acquisition to "accelerate the global adoption of xStocks."

• Franklin Templeton Solana $SOL ETF (SOEZ) begins trading; joins Bitwise (BSOL), Grayscale (GSOL), Fidelity (FSOL), VanEck (VSOL), 21Shares (TSOL), among others in launching a Solana ETF.

• Revolut launches support for Solana $SOL payments, transfers, & staking; Revolut also partnered with Uniswap Labs $UNI offering a fiat onramp within Uniswap apps.

• Aave $AAVE community proposes closing low-earning instances on zkSync $ZK, Metis $METIS, & Soneium networks; also suggests a $2M annual revenue floor for future deployments.

• Grayscale Chainlink $LINK Trust ETF (GLNK) begins trading; Bitwise Chainlink ETF to also begin trading soon.

• US SEC Chair Paul Atkins says an innovation exemption for crypto firms is coming in about a month; to also introduce new policies to improve the market environment for IPOs.

• UK passes Property Act 2025, officially recognizing crypto as property; gives crypto a “clearer legal footing” in related crimes or litigation.

Alpha

• ⭐️ Polymarket $POLY begins rolling out US app access to users on the waitlist; initially launching with sports only, with markets on everything coming soon.

• ⭐️ Stable $STABLE to launch mainnet & TGE on December 8th; tokenomics: Genesis Distribution 10%, Ecosystem & Community 40%, Team 25%, & Investors & Advisors 25%.

• Startale launches Startale USD $USDSC stablecoin on Soneium; also launches STAR points rewards program; earn points by providing liquidity, completing missions, and/or interacting with Mini Apps.

• MetaMask $MASK launches 200% points boost on perps trades; MetaMask has also integrated Polymarket prediction markets.

• Trust Wallet $TWT launches Predictions powered by Myriad; to integrate Polymarket & Kalshi prediction markets soon.

• YO launches yoGOLD, a yield vault for tokenized gold powered by Tether Gold $XAUT; early deposits earn 3x YO points & 5x IPOR Fusion points.

Airdrops

• Rainbow $RNBW to share update on RNBW token on December 4th; previously stated RNBW would launch in Q4 2025.

• Superform $UP launches airdrop registration; Season 1 XP holders, Season 2 CRED holders, Season 3 Points holders, & more are eligible.

• Espresso $ESP to launch airdrop registration on December 22nd; ~22 of 30+ paths to airdrop eligibility have so far been revealed.

• ICYMI Aster $ASTER launches stage 3 airdrop eligibility & allocation checker; Stage 3 participants are eligible; claim on December 15th.

• ICYMI Rayls $RLS launches airdrop claim; Rayls Points holders were eligible to register.

• ICYMI Cysic launches airdrop registration & eligibility checker; testnet participants; Cysic CUBE NFT holders, & more are eligible.

Finance News

• ⭐️ US SEC cracks down on highly-levered ETFs amid recent surge in market volatility; issued multiple warning letters to ETF providers, effectively "blocking" the introduction of 3x-5x levered ETFs.

• US ADP Private Payrolls unexpectedly falls by 32,000 jobs in November, the lowest level since March 2023; a gain of 10,000 jobs was expected.

• Cango $CANG reports Q3 2025 earnings; reports $224.6M in revenue (+60.6% QoQ), net income of $37.3M, adjusted EBITDA of $80.1M & more.

• Forward Industries $FWDI partners with Sanctum to launch fwdSOL liquid staking token; to convert 25% of its Solana $SOL holdings into fwdSOL; currently holds 6.92M SOL (~$978M).

• Upexi $UPXI raises $23M via private placement offering; to use proceeds for working capital, general corporate purposes, & to buy more Solana $SOL; currently holds 2,106,989 SOL (~$298M).

• Sonnet BioTherapeutics $SONN shareholders approve merger with Rorschach I LLC to form Hyperliquid Strategies $PURR; holds 12.6M Hyperliquid $HYPE (~$427M) & $305M in cash.

• Michael & Susan Dell donate $6.25B to fund "Trump Accounts"; to provide 25M kids born between 2025 & 2028 with $250 in an investment account, on top of the $1,000 provided by the Trump Administration.

• Anthropic prepares to go public as soon as 2026; currently in talks for a funding round valuing the company at over $300B.

Security and Exploits

• Scam Sniffer releases November 2025 Phishing Report; reports $7.77M in losses from 6,344 victims in November.

• MetaMask launches Transaction Shield, an optional subscription offering protection of up to $10,000/month for eligible transactions.

• Rayls $RLS reportedly distributes 10% of its airdrop to sybil clusters; 105 sybil clusters used 9,306 wallets to claim ~6.8M RLS (~$175K).

• Android expands in-call scam protections to the US; feature activates when a user opens a participating financial app while screen sharing and engaged in a call with an unknown number.

• How You Can Prevent Crypto Kidnappings, Muggings, & Other Attacks by Beau.

Token Unlocks

• Sui $SUI / ~$66M / DEC 01st
• EigenCloud $EIGEN / ~$21M / DEC 01st
• Ethena $ENA / ~$10M / DEC 02nd
• Ethena $ENA / ~$50M / DEC 05th
Sourced from Tokenomist

Funding

• Ostium raises $20M in Series A funding led by Jump Trading & General Catalyst.

• Fin raises $17M in Series A funding led by Pantera Capital.

• Bitstack raises $15M in Series A funding led by 13books Capital.

• Axis raises $5M in funding led by Galaxy.

• Simcluster raises $2M in funding from several investors.

• Predict[.]fun raises an undisclosed amount in funding from YZi Labs.

The Degen Farmer