[South Korea's National Pension Service Increases MicroStrategy Holdings to $93 Million] South Korea's National Pension Service (NPS) has increased its holdings in Bitcoin treasury company MicroStrategy (MSTR) to $93 million.

[Matrixport: Bitcoin Implied Volatility Compresses, Year-End Rally Probability Declines] Matrixport released a market analysis stating that Bitcoin's implied volatility continues to compress, reducing the probability of a significant year-end rally. Today's FOMC meeting is the last major catalyst, and volatility may further decline during the holiday period after the meeting concludes. In the absence of directional momentum driven by new inflows from Bitcoin ETFs, the market may return to a range-bound pattern. Implied volatility is decreasing, and the market is lowering the likelihood of an upward movement by the end of December.

[A newly created wallet withdraws over 200,000 SOL from Binance] Onchain Lens monitoring data shows that a newly created wallet withdrew 200,001 SOL from Binance, valued at $27.87 million.

[South Korean Crypto Exchange Upbit Increases Cold Wallet Asset Storage Ratio to 98.33%] South Korean crypto exchange Upbit announced that as of the end of October 2025, its hot wallet storage ratio will be 1.67%, while the cold wallet storage ratio will reach 98.33%. According to South Korea's 'Virtual Asset User Protection Act,' crypto asset business operators are required to store more than 80% of customer digital assets in cold wallets. Upbit has completed a wallet system upgrade to strengthen its security system and plans to reduce the hot wallet ratio to the 0% range. In November, Upbit confirmed losses exceeding 44.5 billion KRW due to a hot wallet theft.

[U.S. Judge Rules Connecticut Must Halt Enforcement Actions Against Kalshi] On December 2, the Connecticut Department of Consumer Protection (DCP) accused Kalshi, Robinhood, and Crypto.com of conducting unlicensed online gambling activities in the state through online sports event contracts and issued a cease-and-desist order. Subsequently, Kalshi filed a lawsuit. On Monday, U.S. District Court Judge Vernon Oliver ruled that during the court's review of Kalshi's request to temporarily block regulatory actions, the DCP must refrain from taking enforcement actions against the company. The ruling stated that the DCP must submit a response by January 9, Kalshi must submit supporting materials by January 30, and oral arguments for the case will be held in mid-February.