[Vitalik Buterin Hopes Zcash Resists Token Voting Influence] Vitalik Buterin posted on the X platform, expressing his hope that Zcash resists the influence of token voting. He believes token voting performs poorly in various aspects, even worse than Zcash's current situation, and pointed out that privacy may gradually be eroded under the control of ordinary token holders.

According to the heat ranking, ZEC's popularity has decreased by 230000 followers compared to yesterday, ranking second. The heat ranking is as follows: ① ZEC （$456.65，-2.35%） ② ETH （$3007.67，0.20%） ③ MERL （$0.3522，-0.17%） ④ ARC （$0.04233，7.08%） ⑤ SOL （$136.65，-0.04%） The selling power of ZEC's main funds is average, with a net outflow of $1093800 within 24 hours and a transaction volume of $1442 million within 24 hours, of which the main funds had a net outflow of $1063900.

[Upbit to Gradually Resume Deposit and Withdrawal Functions on December 1, 2025] South Korean cryptocurrency exchange Upbit has announced that it will gradually resume deposit and withdrawal functions starting at 1:00 PM (UTC+8) on Monday, December 1, 2025. The first batch to be restored includes network digital assets whose wallet systems have passed inspections and been confirmed as secure, such as Akash Network's AKT, Ethereum ecosystem assets 1INCH, AAVE, ADT, and others. Due to security vulnerability fixes and wallet system maintenance, all digital assets will require new deposit addresses. Previously, Upbit suspended deposit and withdrawal functions following the theft of $36.8 million worth of Solana network assets.

[TF Securities Under Investigation by CSRC, Subsidiary Obtains Hong Kong Virtual Asset Trading License] TF Securities announced that the China Securities Regulatory Commission (CSRC) has issued a 'Notice of Investigation.' Due to suspected violations of information disclosure regulations and illegal provision of financing, the CSRC has decided to investigate TF Securities. A non-bank analyst believes that if TF Securities is ultimately subjected to administrative penalties, the company's business operations and financing may be negatively impacted, and liquidity could face pressure. Previously, TF Securities disclosed that its wholly-owned subsidiary, TF International Securities and Futures Limited, had been approved by the Hong Kong Securities and Futures Commission (SFC) to obtain a Type 3 virtual asset-related license, allowing it to provide virtual asset trading services through an omnibus account arrangement.

[Arthur Hayes Suggests Maelstrom Portfolio Projects Unlock All Tokens as Soon as Possible] Arthur Hayes posted on Platform X, stating that Monad founder Keone Hon provided reasonable explanations for why Maelstrom's portfolio projects have not unlocked all their tokens. Arthur Hayes mentioned that he has suggested to the Maelstrom portfolio project teams to achieve 100% token vesting for both the team and investors as soon as possible, ideally immediately, though this has not yet been adopted. He believes that without natural demand based on usage, token prices could plummet to near zero or recover due to a resurgence in organic product usage. Arthur Hayes hopes that Maelstrom will support projects capable of generating natural user demand and looks forward to Monad potentially proving this point.