DEX

Hyperliquid generated approximately $2 million in network fees over 24 hours, exceeding all other blockchains in daily revenue, data show. A team-linked wallet transferred 2.6 million HYPE tokens, worth roughly $90 million, from staking to spot holdings. The move prompted community debate over liquidity management and treasury strategy.

Cryptocurrency exchange Coinbase has submitted formal recommendations to the Commodity Futures Trading Commission requesting updated regulatory frameworks for digital assets. The submission addresses decentralized finance oversight, stablecoin collateral use, and standards for integrated trading platforms. Coinbase argues that current U.S. rules do not reflect the structure of modern crypto markets and proposes practical oversight measures that balance innovation with investor protection.

Balancer has initiated a reimbursement program to return approximately $8 million to liquidity providers affected by a November exploit of its v2 pools. Whitehat hackers and internal teams recovered funds across Polygon, Ethereum, Base, and Arbitrum networks. The protocol will distribute recovered assets following KYC verification, with whitehat contributors receiving a 10% bounty.

Balancer community members have proposed distributing $8 million in recovered funds to users affected by a $116 million exploit in November. The plan allocates compensation proportionally based on Balancer Pool Token ownership in exploited pools. Victims would receive reimbursement in the original stolen assets rather than converted equivalents.

Balancer has outlined a plan to distribute approximately $8 million in recovered assets to liquidity providers affected by a November vulnerability that led to losses exceeding $128 million. Six white hat actors secured roughly $3.86 million during the incident, with bounties capped at $1 million per operation and requiring identity verification. The proposal establishes a 180-day claim window, after which unclaimed assets will be subject to governance decisions.

Unichain's total value locked has fallen 86% from its all-time high following the conclusion of its incentive campaign, according to data from Entropy Advisors. The Layer 2 blockchain distributed over $21 million in rewards through a program that began in April 2025, with a significant portion of capital exiting the network after distributions ceased. Analysts point to limited competitive advantages in retaining liquidity providers once incentives ended.

Uniswap Labs' UNIfication governance proposal has secured 63 million UNI tokens in preliminary support, with minimal opposition recorded. The proposal seeks to restructure governance and introduce protocol-level fees. Formal on-chain voting is scheduled to begin next week, with potential implications for UNI tokenomics and the decentralized finance sector.

Web3 investment firm DWF Labs unveiled a $75 million fund on November 26 to back next-generation decentralized finance infrastructure. The capital will support teams building perpetual decentralized exchanges, money markets, and yield protocols on Ethereum, BNB Chain, Solana, and Base. The firm will prioritize projects with functional products addressing liquidity provisioning, settlement systems, and on-chain risk management.

The United Arab Emirates enacted Federal Decree Law No. 6 of 2025, mandating central bank licensing for all cryptocurrency and decentralized finance platforms operating within or from the country. Unlicensed operations face penalties up to 1 billion dirhams ($272 million). The regulation covers virtual assets, DeFi protocols, stablecoins, tokenized assets, decentralized exchanges, wallets, and blockchain infrastructure.

Crypto market maker DWF Labs has launched a $75 million proprietary fund targeting decentralized finance infrastructure across Ethereum, BNB Chain, Solana, and Base. The fund will support projects addressing liquidity provisioning, settlement systems, credit mechanisms, and on-chain risk management, according to co-founder Andrei Grachev. The vehicle is not currently accepting external investors.