US government-linked wallets move BTC and BNB
Six hours ago, a US government-linked address transferred 833.6 BTC, worth about $71.56 million, to Coinbase Prime. It also moved 40,285 BNB worth roughly $31.63 million. After multiple transfers, the BNB ended up at address 0xBE7...81E.
The same government-linked addresses still hold about $28 billion in crypto assets. The bulk of that is 324,000 BTC, valued at around $27.7 billion.
Abstract to shut down on Dec. 15, 2026
Consumer crypto network Abstract said it will gradually cease operations and formally shut down the network on Dec. 15, 2026. Users need to move their assets before then through the Migration Hub or the native cross-chain bridge. Funds that are not migrated in time will become inaccessible.
Igloo, Abstract’s parent company, said the cost of operating an independent blockchain was too high. It also cited weak on-chain liquidity, limits in the DeFi ecosystem, and falling market demand, saying Abstract failed to find a sustainable product-market fit. Igloo added that it has lost tens of millions of dollars over the past two years while keeping Abstract running and searching for a path to profitability.
After the shutdown, Igloo said it will refocus staff and resources on Pudgy Penguins, Pudgy NFTs, and PENGU.
MAS says Hyperliquid is not under its supervision
According to the Financial Times, the Monetary Authority of Singapore said it is not aware of Hyperliquid being regulated in any major jurisdiction and had warned investors that its perpetual contracts are not regulated by MAS.
People familiar with the matter said MAS believes Hyperliquid should not be treated as being headquartered in Singapore because of its “decentralized nature,” placing it outside MAS jurisdiction.
Hyperliquid Labs, however, confirmed to the Financial Times that its headquarters are in Singapore. Company documents reviewed by the newspaper also showed its registered headquarters there. Hyperliquid said it has not claimed, and has never claimed, to be licensed or authorized by MAS, and said it will continue constructive communication with regulators.
South Africa’s FNB launches crypto investing service
South African newspaper Business Day reported that First National Bank, or FNB, has launched a Crypto Investing service. Customers can trade BTC, ETH, XRP, SOL, and USDT directly through the bank’s existing stock trading platform.
The service is offered in partnership with licensed South African crypto exchange VALR. The minimum trade size is 10 rand, and trading is available 24/7. FNB said the launch responds to growing customer demand for crypto asset investment, and that more crypto investment options will be added later.