Bitget Daily Briefing (November 26) | Kevin Hassett emerges as a top candidate for SEC Chairman; Ethereum ETF sees a net inflow of approximately $104 million in a single day; Texas launches Bitcoin reserve program, with an initial purchase of $5 million in IBIT

Today's Outlook

1. The acting chair of the CFTC is recruiting a CEO for the Innovation Committee amid expanded crypto regulation.
2. SharpLink: Last week, 443 ETH staking rewards were generated, totaling 7,846 ETH.
3. Yesterday, Bitcoin ETF saw a net inflow of 807 BTC (approximately $70.22 million); Ethereum ETF had a net inflow of 35,725 ETH (approximately $104 million); Solana ETF recorded a net inflow of 374,028 SOL (approximately $5.087 million).

Macro & Hot Topics

1. Matrixport released an analysis yesterday stating that Bitcoin's recent rebound is a short-term opportunity driven by sentiment recovery, not a signal of a new bull market.
2. The SEC Investor Advisory Committee will hold an online meeting on December 4 to discuss corporate governance and stock tokenization.
3. Jinshi: Sources reveal that as the selection process for the new Federal Reserve Chair enters its final weeks, Kevin Hassett, director of the White House National Economic Council, is seen as the frontrunner for the next Fed Chair among President Trump's advisors and allies.

Market Trends

1. In the past 24 hours, the cryptocurrency market experienced a liquidation of $301 million in total contracts, with long positions liquidating $154 million and short positions liquidating $146 million. The total liquidation amount for BTC was $94 million, and for ETH, it was $63 million.
2. U.S. stocks: The Dow Jones rose by 1.43%, the S&P 500 increased by 0.91%, and the Nasdaq Composite gained 0.67%.
   
3. Bitget BTC/USDT liquidation map shows: The current price of 87,973 is in the "bullish meat grinder" core area, with a massive accumulation of 50x--100x long positions between 88,200 and 91,000. A breakout above 91k will trigger a bullish liquidation waterfall towards 95k+; the short liquidation wall below is extremely thin, with almost no strong support below 86k. The market is extremely one-sided bullish, and the risk of a false breakout is high.
   
4. In the past 24 hours, BTC spot inflow was $162 million, outflow was $134 million, resulting in a net inflow of $28 million.
   

News Updates

1. New York Post: San Francisco police and insiders revealed that a tech investor who previously dated OpenAI CEO Sam Altman was armed robbed on the night of November 22, with $11 million worth of cryptocurrency assets stolen.
2. Fortune: Paxos acquired DeFi wallet company Fordefi for over $100 million.
3. The UAE's new financial law includes DeFi and Web3 under regulatory oversight.

Project Progress

1. Plasma (XPL) completed the unlocking of approximately 88.89 million tokens at 21:00 (UTC+8) yesterday, accounting for 0.89% of the total supply, valued at approximately $18.1 million.
2. Jupiter (JUP) will unlock approximately 53.47 million tokens on November 28 at 12:00, accounting for 0.76% of the total supply, valued at approximately $12.5 million.
3. Ethena's synthetic stablecoin USDe TVL has dropped from $14.8 billion in October to the current $7.6 billion, a decline of over 50%.
4. Analyst @ai_9684xtpa: A certain ancient whale is suspected of selling 20,000 ETH after eight months, valued at $58.14 million.
5. Multicoin Capital has purchased another 60,000 AAVE, valued at $10.68 million. Recently, they have accumulated a total of 338,000 AAVE at an average price of $219, with an unrealized loss of $13.5 million.
6. The fifth-largest bank in the U.S., U.S. Bancorp, is testing its developed stablecoin on the Stellar platform.
7. Texas has launched a Bitcoin reserve program, with an initial purchase of $5 million in BlackRock's IBIT.
8. Polymarket announced that it has received approval from the CFTC to re-enter the U.S. market.
9. The MegaETH pre-sale event failed due to technical issues, abandoning plans to expand fundraising to $1 billion.
10. Metaplanet Inc.: The company executed a $130 million loan on November 21 based on the credit agreement disclosed on October 28, using its Bitcoin holdings as collateral.
    **Disclaimer: This report is generated by AI, with human verification for information only and does not constitute any investment advice.