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16:41

Whale Opens Large Leveraged Short Position in HYPE on HyperLiquid

Gate News bot message, A new wallet has made significant moves in the cryptocurrency market, depositing $2.5 million USDC into HyperLiquid. The wallet holder subsequently established a short position in HYPE token with 10x leverage. The same wallet currently maintains an active order to expand its
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HYPE2.9%
15:35

The US dollar may fall to 95 in 2026 due to the Fed's interest rate cuts.

ChainCatcher news, according to Jin10, Pictet Asset Management strategist Luca Paolini stated that as the economic growth slows down, it paves the way for the Fed to further cut interest rates, the dollar will face a new round of weakness next year. He predicts that by the end of 2026, the dollar index will fall from the current level of around 99.55 to 95, and the interest rate differential of the dollar is significantly narrowing.
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15:32

Blockrise has obtained a MiCAR license, offering BTC stake loans, and plans to raise 15 million euros.

PANews, November 27 - The Dutch Bitcoin platform Blockrise announced that it has been authorized by the Netherlands Authority for the Financial Markets (AFM) under the EU MiCAR to provide Bitcoin-related services in Europe. Blockrise is a "Bitcoin-only" platform that will offer loans collateralized by Bitcoin to corporate clients, with a minimum loan amount of 20,000 euros. Clients retain ownership of the pledged BTC and it will not be re-staked. The company previously raised 2 million euros in seed funding and is now planning to initiate a 15 million euro Series A round to expand its market and credit business in the EU.
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BTC4.3%
15:26

Arcium has launched the RTG platform to distribute tokens to community contributors.

Foresight News reports that the confidential computing network Arcium has announced the launch of the RTG (Retroactive Token Grant) platform. RTG is Arcium's way of distributing tokens to contributors who have made meaningful and genuine contributions to the community, inspired by the vision of an encryption supercomputer. RTG consists of four core components: a crypto portal, a unified interface for users to view allocations, track submissions, and share their honors; the RTG directory, which outlines all online RTGs and showcases them by specific categories, including community, developers, and ecosystem; a submission system, built for verification, allowing users to share submission content for RTG consideration; and RTG types divided into on-chain and off-chain. Additionally, Arcium is launching the first RTG recognition event, where in the first phase, eligible contributors will see their status directly in the crypto portal.
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15:19

Viewpoint: The low trading volume and high fluctuation of Bitcoin during Thanksgiving is not a structural trend signal.

BlockBeats news, on November 27, wealth management company Swissblock stated that Bitcoin had low Trading Volume and high Fluctuation during Thanksgiving, presenting a good opportunity for tactical operations rather than a structural trend. When macro Liquidity and capital flow remain weak, these Fluctuations should be viewed as "noise" rather than market signals.
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BTC4.3%
15:02

Thanksgiving Bitcoin price 15 years rise history, from 0.28 USD to 90,000 USD

According to ChainCatcher news, as disclosed by WatcherGuru, the Bitcoin prices on Thanksgiving each year are as follows: 2010: $0.28 2011: $2.49 2012: $12.51 2013: $813 2014: $376 2015: $328 2016: $739 2017: $8,771 2018: $4,015 2019: $7,150 2020: $18,764 2021: $58,927 2022: $16,353 2023: $37,035 2024: $95,531 2025: $91,711.
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BTC4.3%
14:06

INFINEX launches SONAR sales plan after raising $67.7 million in NFT funding.

Gate News bot message, according to a report by The Block, the project INFINEX founded by Kain Warwick is preparing to launch a SONAR sale before the TGE( token generation event) in 2026, after completing a $67.7 million Patron NFT funding round. The project raised initial funding by selling 5,000 Patron NFTs. Each NFT is priced at $13,543, and NFT holders will receive rights associated with the INX Token. SONAR sales are an important part of the INFINEX development roadmap, which will take place before its token generation event.
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14:05

DeepSeek launched the DeepSeekMath-V2 model

PANews news on November 27th reports that DeepSeek has launched a new mathematical reasoning model, DeepSeekMath-V2, which uses a self-verifying training framework. This model is built on DeepSeek-V3.2-Exp-Base and automatically reviews generated mathematical proofs through an LLM verifier, continuously optimizing performance using high-difficulty samples.
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14:04

LazPad launches Open Launch, debuting the "co-constructed AI Token" issuance model

According to BlockBeats news, on November 27, the AI token issuance platform LazPad Open Launch has been launched on the Metis Andromeda network, providing a new token issuance mechanism based on LazAI DAT (data anchoring token) standards and Bonding Curve. The newly launched 'Co-build Agent' model allows the community to participate in AI Agent training through interaction and data contributions during the token issuance period, and obtain 'Co-build Points' as future airdrop credentials. In the issuance process, Open Launch is fully driven by Bonding Curve. When the fundraising amount reaches 1,067
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METIS8.03%
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14:01

Analysis: BlackRock IBIT holders return to profitability, ETF sell pressure may ease.

BlockBeats news, on November 27, according to Cointelegraph, BlackRock's Spot Bitcoin ETF IBIT holders have returned to profit as Bitcoin rebounds above $90,000, indicating that the sentiment of one of the key investor groups driving the market this year may be changing. Arkham data shows that the largest Spot Bitcoin fund, BlackRock's IBIT, has seen cumulative profits rise to $3.2 billion. Arkham stated: "BlackRock's IBIT and ETHA holders had nearly $40 billion in profit at their peak on October 7, while it fell to $630 million just four days ago. This means the average cost of all IBIT purchases is almost flat." As ETF holders are no longer under pressure, the sell-off of Bitcoin ETF.
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BTC4.3%
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14:00

TEN Token is now live on the Gate exchange platform, supporting free exchanges of over 2200 assets.

According to the Gate News bot, the announcement from the Gate exchange platform on November 27, 2025. Gate flash exchange platform has added support for exchanging TEN tokens. Users can now exchange them with assets such as USDT through the flash exchange feature. Gate swap platform currently supports fast exchange services for over 2200 types of cryptocurrency assets, providing users with a fee-free trading experience.
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TEN-71.8%
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13:38

Alliance DAO warns cryptocurrency users trading US stocks: You think you are a shark, but you are actually just a fish.

Odaily News Alliance DAO co-founder responded to the previous viewpoint that "crypto bros will face stronger opponents when trading U.S. stocks" by stating that he is clear about this because he himself was one of the "professional counterparties" in the U.S. stock market ten years ago. He stated, "In the U.S. stock market, about 1 in every 20 trades is against my counterparty. I know my level at that time, and I am aware of the strength of my peers like Jump, Citadel, etc.—any market inefficiency you can think of has been completely squeezed out by us." He emphasized that retail investors might "get lucky for a few months," but the only way to make stable profits in the long term is straightforward: buy quality assets and hold them long-term, most likely index funds. If everyone does this, the professional trading industry will not be able to sustain itself. He concluded by writing: "The worst performer at the table.
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13:37

Xbank DApp officially launched, concurrently releasing NFT Node certificates.

Odaily News Decentralized Finance platform Xbank announced the official launch of its new DApp. This launch fully connects four core modules: RWA finance, decentralized trading, PayFi payment, and ecological governance, aiming to provide global users with more transparent, efficient, and trustworthy on-chain financial services. Also launched is the Xbank NFT Node Certificate, which serves as a key entry point and value carrier for the ecosystem. This NFT will be used in the future for user level identification, staking yield enhancement, Airdrop rights allocation, and community governance voting scenarios. Xbank stated that the platform will continue to promote the deep integration of real assets and on-chain liquidity, accelerating the construction of an open, secure, and sustainably growing financial ecosystem.
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13:30

The UK tax authority adopts DeFi "no gain, no loss" tax treatment, and the founder of Aave calls it a major victory for users.

PANews, November 27, reported that Aave founder Stani Kulechov stated that the UK's HM Revenue and Customs (HMRC) has released the tax consultation results regarding DeFi lending and staking activities, proposing a "No Gain No Loss (NGNL)" tax treatment suggestion, which means that when users deposit crypto assets into protocols like Aave, it is not regarded as a capital gains disposal. If this policy is legislated, it will greatly simplify the reporting burden for users and is seen as a significant victory for DeFi users. The Aave team participated in the consultation process and urged that this policy reflects the economic substance of on-chain interactions.
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13:20

Aave founder: The UK plans to treat DeFi deposits as "no yield, no loss," Favourable Information for encryption lending tax treatment.

Stani.eth, the founder of Aave, stated that the consultation results from HM Revenue and Customs indicate that deposits made by users on Aave will not be regarded as a disposal for Capital Gains Tax purposes, which is a significant victory for UK DeFi users looking to borrow stablecoins. He emphasized support for this tax treatment and looks forward to it being reflected in the tax law soon.
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AAVE3.89%
13:03

European Central Bank meeting minutes: The current uncertainty proves that maintaining the interest rate unchanged is reasonable.

The European Central Bank meeting minutes show that the assessment of the inflation outlook remains largely unchanged. Most officials believe that the rate cut cycle has ended, and a prudent strategy helps maintain a good state. However, the risks to the inflation outlook remain bidirectional and uncertain, making the value of waiting for more information high.
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12:58

Animoca Brands has launched an encryption charity donation for the fire in Tai Po, Hong Kong, and has established two Wallet Address.

PANews, November 27, news from Animoca Brands announcement, in response to the casualties caused by the high-rise residential fire in Tai Po, Hong Kong, the company has launched a non-profit charity initiative, calling on the global encryption community to donate for post-disaster reconstruction. The official has set up two cryptocurrency Wallets to receive donations (EVM: 0x56f7…a2e2, Solana:
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12:19

Gate has urgently established a 10 million HKD relief fund to support disaster relief for the fire in Hong Kong.

Odaily News According to official sources, Gate has urgently established a relief fund of 10 million HKD, specifically aimed at supporting the living assistance and subsequent community reconstruction efforts for residents affected by the fire in Tai Po, Hong Kong. The fund will be allocated in phases based on actual needs and will continue to be invested. Gate expresses its respect to the firefighting and rescue personnel working on the front lines and will continue to monitor the disaster situation, fully assisting the affected communities in overcoming difficulties.
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12:15

BNB Chain appoints Nina Rong as Chief Growth Officer

Odaily News BNB Chain announced that Nina Rong has taken on the role of Chief Growth Officer. Nina Rong will primarily be responsible for ecosystem development, enhancing developer support, and expanding global presence.
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12:12

Tether's gold holdings increased to 116 tons, matching that of small Central Banks, and the tokenization of the gold market is receiving attention.

Tether has recently doubled its holdings in gold, attracting market attention. Analysts believe this could be a strategic move to lay out a tokenization plan for the gold market, aimed at meeting the rise in demand for the USDT stablecoin and Tether Gold (XAUT). By 2025, Tether's treasury will hold approximately 116 tons of gold, most of which was purchased this year, and its reserve scale can rival that of small central banks like South Korea. According to the Financial Times, Tether purchased 26 tons of gold in the third quarter, surpassing the demand of the central banks of Kazakhstan and Brazil during the same period. Investment bank Jefferies pointed out that, aside from central banks, Tether is the largest holder of gold in the world, with gold reserves "roughly equivalent to smaller central banks such as those of South Korea, Hungary, and Greece."
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XAUT-0.16%
PAXG-0.2%
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12:09

A certain Whale received 3.4 million ENA from Wintermute and has accumulated a total of 10.59 million ENA over the past 10 months.

BlockBeats news, on November 27, according to monitoring by The Data Nerd, an hour ago, a certain Whale 0xaf3 received 3.4 million ENA (approximately 953,000 USD) from Wintermute. Over the past 10 months, he has accumulated a total of 10.59 million ENA (approximately 6.5 million USD), with an average get on board price of about 0.614 USD. The unrealized loss is approximately 2.97 million USD, with a Return on Investment of -45.7%.
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ENA5.6%
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12:08

The management team and shareholders of OSL Group donated HKD 3 million to support the aid and reconstruction of the fire disaster in Tai Po, Hong Kong.

Foresight News reports that the management and shareholders of OSL Group will personally donate HKD 3 million to support emergency relief and post-disaster reconstruction efforts for the fire at Hong Fu Court in Tai Po, Hong Kong. OSL Group expresses deep sorrow over this major incident, paying heartfelt tribute and condolences to the deceased, extending sincere care and sympathy to the affected residents, and expressing high respect for the frontline firefighters and rescue personnel. OSL Group stated, "We are always ready to provide necessary support and actively participate in community reconstruction efforts together with the citizens and society of Hong Kong, working hand in hand to overcome difficulties."
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12:07

Qilin Ransomware attacks South Korean MSP, 28 Financial Institutions affected, leaking 2TB of data.

PANews, November 27 news, reported by The Hacker News that the Qilin ransomware group initiated a "Korean Leaks" supply chain attack by breaching the South Korean IT service provider GJTec, resulting in 28 financial enterprises being affected and over 1 million files totaling 2TB of data being stolen. Bitdefender's investigation found that this operation is related to the North Korean background APT "Moonstone Sleet," and is suspected to be in collaboration with the Russian-speaking Qilin group, targeting to exert pressure on the South Korean financial market.
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12:06

South Korean police and executives of a cryptocurrency company are involved in a 249.6 billion won Money Laundering case, and prosecutors have filed charges without detention.

The Suwon District Prosecutor's Office in South Korea announced on Thursday that two senior police officers and five civilians have been charged with involvement in a Money Laundering network related to Crypto Assets, which involves the conversion of proceeds from voice phishing scams. The indictment was submitted without detention and includes charges of violating the Act on the Aggravated Punishment of Specific Crimes and the Act on the Control of Concealment of Criminal Proceeds. The senior police officers who were indicted include the former police chief (Code A) and a former national police department official (Code B). The prosecution stated that the two received money and luxury goods from a manager of a crypto assets company in exchange for sensitive investigation information and business conveniences. The other five defendants include crypto assets company operator C and CEO D, who are charged with bribery and digital asset money laundering.
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12:04

The price of Zcash (ZEC) rebounds, attracting attention, as Grayscale ETF boosts buyer confidence.

The price of Zcash (ZEC) has recently rebounded strongly from a key demand zone, becoming the focus of the market once again. Although the overall crypto market is still showing mixed rises and falls, ZEC remains stable near major reaction levels, indicating increased buyer confidence. The technical analysis shows that the Zcash price is accumulating strength within a descending wedge while forming an Adam and Eve bottom formation. The Adam part presents a V-shaped rapid rebound, while the Eve part supports a rounded and stable formation, indicating that buyers are actively intervening during each pullback, leading to an increasingly clear price structure. The main support levels are at 607 USD, 705 USD, and 800 USD, and if the price successfully breaks through these levels, it will open up further upside potential.
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12:02

Sun Wukong (SunX) has a cumulative trading volume exceeding 11.2 billion USDT, with one million $SUN invitation rewards launching simultaneously.

According to ChainCatcher news, as of November 26, the decentralized futures trading platform SunX has seen significant rise in data. Among them, the daily trading volume of SUN/USDT exceeded 35 million USDT, with a day-on-day rise of 44%; the total number of registered addresses surpassed 68,000, and the cumulative trading volume exceeded 11.2 billion USDT. In addition, Sun Wukong (SunX) has launched the "Invite Friends" event, with a total prize pool of 1 million $SUN. Users can log in to Sun Wukong (SunX) to obtain a unique link or invitation code. For each successful invitation of a friend who completes the trading task, both the inviter and the invitee can receive rewards, with a maximum of 130 $SUN that can be claimed by an individual.
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SUN1.66%
12:00

"Sun Wukong 72 Debates" opens today: discussing the trends in the crypto market and the future of Perp DEX.

Sun Wukong (SunX) will hold a themed live broadcast today at 20:00 (UTC+8) to discuss fee rebates and a million dollar Mining event, inviting several cryptocurrency KOLs to participate. The first "Trading Mining" event will take place from November 21 to December 6, with a prize pool of up to 1.35 million USDT. Users can earn fee rebates and additional Token rewards through trading.
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SUN1.66%
BTC4.3%
ETH2.76%
11:57

On-chain encryption billionaire list revealed: billions of dollars in assets are inaccessible due to lost Private Keys.

Analysis company Arkham recently released a list of the top ten wealthiest individuals in the crypto assets industry, showing that this wealth can be traced on the blockchain. Unsurprisingly, at the top is the pseudonymous Bitcoin founder Satoshi Nakamoto, who holds Bitcoin worth over 100 billion dollars. The list also includes TRON founder Justin Sun and Ethereum founder Vitalik Buterin. It is noteworthy that there are four billionaires on the list who control billions of dollars in crypto assets but cannot access them. Arkham points out that Rain Lõhmus, James Howells, Stefan Thomas, and Clifton Collins collectively hold about $2.7 billion in Bitcoin and Ethereum, which are visible on-chain, but for various reasons have become inaccessible.
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BTC4.3%
ETH2.76%
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11:54

MicroBit Capital announces a donation of $100,000 to support the fire rescue efforts in Tai Po, Hong Kong.

Hong Kong Xiaofei Asset Management Co., Ltd. urgently donated $100,000 to support the community affected by the Tai Po fire, reflecting corporate social responsibility. The donation will be distributed to affected families and rescue personnel through the Hong Kong Youth Student Power Fund, while also innovatively launching channels for donations in both traditional and virtual assets.
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11:53

The UK's Chancellor of the Exchequer's autumn statement did not increase encryption taxes, but regulation is tightening.

ChainCatcher News, reported by The Block, the UK Chancellor of the Exchequer Rachel Reeves did not propose new tax increases on Crypto Assets in her latest autumn statement, maintaining the same tax treatment for crypto assets as other asset classes. However, the government is advancing stricter reporting and regulatory measures, including the upcoming implementation of the Crypto-Asset Reporting Framework (CARF) global tax transparency system in 2026. Industry professionals welcomed the entrepreneurial support measures but warned that the overall tax and regulatory environment in the UK could weaken its global competitiveness in the fintech and digital asset sectors. Experts are concerned that the lack of sufficient incentives could lead to high-growth fintech, AI, and
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11:49

In November, alts market capitalization evaporated by over 1 trillion, but analysts are optimistic about the next round of expansion.

In November, the Crypto Assets market experienced severe Fluctuation, with the TOTAL3 index plummeting significantly. A large amount of funds flowed into stablecoins, resulting in the market capitalization of alts evaporating by over 1 trillion USD. The TOTAL3 index represents the total market capitalization excluding Bitcoin and stablecoins, serving as an important indicator for measuring the capital rotation in different encryption zones. Analysts generally believe that the current market conditions may signify the end of the altcoin bear market, rather than the conclusion of an overall bull market. Market data shows that the fall of Bitcoin has led to the influx of funds into stablecoins, which then gradually rotate back into altcoins. An analyst named "Stockmoney Lizards" described this pattern as a waiting period.
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BTC4.3%
ETH2.76%
HYPE2.9%
AVAX7.15%
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11:46

The Fusaka upgrade is imminent, the gas limit of Ethereum blocks has been raised to 60 million, Vitalik: it may be further increased in the future.

According to GasLimit.pics data, the Ethereum community has raised the block Gas limit from 45 million to 60 million under the joint efforts of Decentralized Finance (DeFi) users and developers. Ethereum Foundation researcher Toni Wahrstätter announced on the X forum that this is the result of a year-long effort by the community, achieving a doubling of the Gas limit within a year. This adjustment will take effect automatically on November 25, with more than half of the validators voting in agreement, in accordance with the current Consensus rules of Ethereum.
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ETH2.76%
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11:41

Bitcoin and Ethereum Rebound is mainly driven by spot trading, while alts and derivation still exhibit higher fluctuation and risk appetite.

On Thursday, the crypto assets market received a boost, with Bitcoin prices soaring to $91,700 and Ethereum rising to $3,030. Previously, on Wednesday, the stock market saw a strong rebound, led by tech stocks, with the Nasdaq Composite Index achieving its first four-day winning streak since May. The market's focus remains on Bitcoin. In the past 24 hours, Bitcoin has risen by 5.4%, outperforming 18 of the top 20 Crypto Assets by market capitalization. CoinMarketCap's "Altcoin Season" indicator currently stands at 22/100, a significant drop from the October high of 67/100, indicating that the market is still dominated by Bitcoin.
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BTC4.3%
ETH2.76%
SOL3.69%
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11:38

UK Autumn Budget: Crypto Assets exempt from tax increases, but regulation and competitiveness still under follow.

In the latest autumn budget statement, UK Chancellor Rachel Reeves confirmed that Crypto Assets will be exempt from further taxation, but the government is pushing for stricter reporting and regulatory measures to enhance industry Compliance. Reeves announced that the income tax threshold will remain frozen, while new tax measures will be implemented on dividends, savings, and property income, and limits will be set on pension salary sacrifice benefits. Azaria Nukajam, the Compliance Officer of a certain CEX in the UK, welcomed this, believing that Crypto Assets should be treated on par with other asset classes, which is beneficial for their long-term position as an alternative investment choice. However, she also pointed out that new regulations including the Crypto Asset Bill, HMRC tax warnings, and the upcoming Crypto Asset Reporting Framework (CARF) indicate that the UK is pushing for stricter tax transparency and regulation to close potential loopholes.
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11:33

Australia has introduced a regulatory bill for digital assets. What new regulations are facing encryption exchanges?

The Australian government proposed the "2025 Companies Act Amendment (Digital Asset Framework) Bill" on Wednesday, aimed at implementing comprehensive regulation for crypto asset exchanges and custody platforms. Treasurer Jim Chalmers and Financial Services Minister Daniel Mulino stated that the bill is expected to release about AU$24 billion in productivity rise each year, while imposing fines of millions of AU$ on companies that fail to adequately protect customer assets. The bill introduces two new financial products in the Companies Act: digital asset platforms and tokenized custody platforms. Digital asset platforms must hold customers' crypto assets and provide trading functions (transfers, buying and selling, staking, etc.); tokenized custody platforms handle real-world assets such as bonds, real estate, and commodities, and operators must hold the underlying assets and issue convertible tokens. All platforms must hold an Australian Financial Services License and comply with ASIC's custody and settlement standards to ensure asset security and trading compliance. Low-risk small operators may be exempted from full licensing requirements.
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11:32

24-Hour Stablecoin Supply Shows Notable Inflow to Monad Ecosystem

Gate News bot message, significant stablecoin movements have been observed in the past 24 hours, with @monad recording substantial inflows. These inflows are contributing to enhanced ecosystem activities and expanded liquidity pools within the Monad network. Source: @monad
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MON-5.44%
11:17

QCP: Improved market risk sentiment drives Bitcoin to break through $90,000, may continue to oscillate in a range in the short term.

On Wednesday, Bitcoin saw strong buying pressure, with prices breaking the $90,000 mark, reaching a new high in nearly a week. A report from QCP Capital indicated that this rise was not driven by the fundamentals of crypto assets, but rather by an improvement in market risk sentiment. Bitcoin rose from an intraday low of $86,400 all the way up, increasing by 5.3% over the past 24 hours, nearing $91,500. Short sellers are caught off guard. According to Coinglass data, the amount of short positions closed in the past 24 hours reached $241 million, more than three times that of long positions. On Wednesday, the S&P 500 index rose for the fourth consecutive trading day, coinciding with Bitcoin's re-test of the $90,000 mark. Market expectations for a rate cut by the Federal Reserve in December are heating up, with CME FedWatch showing an 85% probability of a 25 basis point cut, while Myriad users predict it at 83%. Although some officials still oppose a rate cut, the overall macro atmosphere is favorable for risk assets.
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BTC4.3%
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11:15

Whale holdings boost FARTCOIN's low-level rebound of nearly 100%, with wallet holdings increasing by over 55% in the last three months.

In the past three months, FARTCOIN has fallen from $1 to below $0.3, causing retail investors to panic and sell, while whales have quietly increased their holdings. In the last week of November, this meme coin on Solana unexpectedly rebounded, rising nearly 100%, soaring from below $0.2 to $0.34, almost doubling from the monthly low of $0.18. On-chain data shows that this surge is not accidental. The Nansen report indicates that the total amount held by the top 100 FARTCOIN wallets has reached 689.62 million coins, accounting for approximately 69% of the total supply, with an increase of over 55% in the past 90 days. Since late August, whales have increased their holdings by more than 230 million coins, and even with the price falling, they are resolutely buying in, demonstrating a typical "smart money" strategy.
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FARTCOIN17.72%
SOL3.69%
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11:06

Do Kwon seeks a sentence of no more than five years in the U.S. for the charges related to the TerraUSD collapse, while South Korea aims to impose a 40-year prison term.

According to a report by Bloomberg, Do Kwon, co-founder of Terraform Labs Pte., stated that he should be sentenced to no more than five years in prison in the U.S. for his involvement in the fraud case related to the $40 billion collapse of the TerraUSD stablecoin in 2022. Do Kwon admitted to conspiracy and wire fraud charges in August and avoided trial after being extradited from Montenegro to the United States. Previously, he was arrested and convicted in Montenegro for using a forged passport while on the run. In the sentencing recommendation submitted later on Wednesday, Do Kwon's lawyer stated that although the prosecution agreed not to seek more than 12 years of imprisonment in the plea deal, this "far exceeds the sentence necessary to serve justice."
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