WSJ Tech News Briefing

Episode: TNB Tech Minute: Bitcoin Is Back on the Defensive
Date: December 1, 2025
Host: Julie Chang, The Wall Street Journal

Episode Overview

This Tech Minute provides a brisk update on major tech and business news headlines for the morning of December 1, 2025. The focus is on recent volatility in Bitcoin, developments in China’s electric vehicle (EV) market, and significant fintech investment news.

Key Discussion Points & Insights

1. Bitcoin’s Volatile Week

• Bitcoin Price Movements:

  • The cryptocurrency market is experiencing renewed volatility. Bitcoin saw a rapid drop below $81,000 on November 21.
  • After a bullish streak throughout late November, it peaked above $92,500 during Black Friday (November 28), only to fall again on Sunday evening.
  • As of early Monday, Bitcoin stabilized at “just over $86,000.” (00:28)

• Market Implications:

  • The current market suggests increasing nervousness among traders following an exuberant period.
  • The segment positions Bitcoin as a “back on the defensive,” indicating the return of risk-off sentiment or profit-taking after rapid gains.

2. China EV Market Faces Headwinds

• Slower Growth and Rising Competition:

  • “China’s auto market will see bigger competition as demand isn’t expected to rise while the government is set to roll back electric vehicle incentives.” (00:45)
  • Nomura analysts believe electric vehicle sales growth is likely to slow compared with previous years.

• International Expansion:

  • To counter slowing domestic growth, “more Chinese automakers will seek growth opportunities in the global market to hedge domestic uncertainties next year.” (00:54)

• Underlying Tone:

  • The segment hints at a maturing EV market in China and a shift in government policy impacting industry dynamics.

3. Major Fintech Investment: Sokin’s $300 Million Valuation

• Funding Details:

  • “Growth investor Prizm Capital has led a $50 million investment in Sokin that values the payments company at $300 million.” (01:07)

• Investor Highlights:

  • High-profile backers include “Morgan Stanley and former Manchester United star Rio Ferdinand.”

• Business Model and Growth:

  • “Sokin charges a percentage fee on transactions done on its platform and has increased annual revenue eightfold since 2022, its CEO said.”
  • In 2025, the company “supported more than $8 billion in global pay, send and receive payments in more than 70 currencies and hold balances in 26 currencies.” (01:21)

• Fintech Sector Implication:

  • The scale and diversity of Sokin’s offering reflect the growing globalization and competitiveness of payment technology providers.

Notable Quotes & Memorable Moments

• On Bitcoin's Volatile Trading:

  “Bitcoin is back on the defensive after hitting an intraday trough below $81,000 on November 21.”
  — Julie Chang (00:19)

• On China’s EV Market:

  “China’s auto market will see bigger competition as demand isn’t expected to rise while the government is set to roll back electric vehicle incentives.”
  — Julie Chang (00:45)

• On Sokin’s Growth:

  “Sokin charges a percentage fee on transactions done on its platform and has increased annual revenue eightfold since 2022, its CEO said.”
  — Julie Chang (01:14)

Segment Timestamps

• Bitcoin Market Update: 00:16–00:44
• China EV Market Analysis: 00:45–01:06
• Sokin’s Funding and Growth: 01:07–01:38

Summary

This concise Tech Minute emphasizes the renewed volatility in cryptocurrency markets, outlines key challenges ahead for China’s EV sector amid policy change, and spotlights a major investment in global fintech. The tone remains brisk and information-focused, in line with the Wall Street Journal’s signature delivery, making it a valuable snapshot of the day’s top tech business stories.