Headline
ME tokenomics announced: total supply of 1 billion tokens, initial allocation ratio of 12.5% at TGE.
The ME Foundation announced ME tokenomics, with a total supply of 1 billion tokens. Token distribution will be released over 4 years, with more than half allocated to the community. Among them, the initial ME allocation at TGE is 12.5%, community and ecosystem is 37.7%, contributors is 26.2%, and strategic participants is 23.6%. ME will be fully distributed within 4 years, at which point all ME will be fully circulated, with the majority allocated to the community.
MicroStrategy again purchased 51,780 BTC, bringing its current holdings to 331,200 BTC.
According to Michael Saylor's announcement on platform X, MicroStrategy used funds from stock sales to purchase 51,780 BTC again, valued at approximately $4.6 billion, with an average price of $88,627. As of November 17, MicroStrategy's Bitcoin holdings reached 331,200 BTC, valued at around $16.5 billion.
Musk: Still holding a lot of Dogecoin, and SpaceX also still holds Bitcoin.
Dogecoin UI designer DogeDesigner shared an audio clip of Elon Musk on platform X, where Musk stated, 'I still hold a lot of Dogecoin, and SpaceX also still holds Bitcoin.' It should be noted that DogeDesigner did not specify when Musk made this statement.
Binance Pool launches Fractal Bitcoin (FB) merged mining.
According to an official announcement, Binance Pool has officially launched FractalBitcoin (FB) merged mining services. Users can start mining Bitcoin (BTC) and receive FractalBitcoin (FB) rewards from November 18, 2024. FractalBitcoin (FB) is currently not listed on binance.com, and the FB mining service from Binance Pool does not guarantee FB trading on binance.com.
Industry News
Heather Morgan, a money laundering accomplice in the Bitfinex hacking case, was sentenced to 18 months in prison.
U.S. District Court Judge Colleen Kollar-Kotelly sentenced Heather Morgan (the rapper 'Razzlekhan'), one of the suspects in the Bitfinex hacking case, to 18 months in prison at a hearing on November 18. In August 2023, Morgan pleaded guilty to conspiracy to launder money and fraud charges; she is the wife and accomplice of hacker Ilya Lichtenstein, who stole 120,000 bitcoins from the cryptocurrency exchange Bitfinex in 2016 and laundered them.
BIT Mining agreed to pay a $10 million fine due to bribery allegations against Japanese officials, of which $4 million will be paid to the SEC.
The U.S. SEC stated on Monday that cryptocurrency mining company BIT Mining Ltd. (formerly 500.com Limited) agreed to pay a $4 million fine to settle allegations of bribing Japanese officials. The SEC pointed out that BIT Mining paid $2.5 million in cash bribes and gifts to Japanese lawmakers between 2017 and 2019 in an attempt to win bids for casino resorts in Japan.
Binance clarifies: 'Reward-type' BFUSD asset is not a stablecoin and has not yet launched.
Binance announced on Monday an upcoming asset called BFUSD, which some industry insiders noted is similar to a high-yield stablecoin (with an annual yield of 19.55%). Binance later clarified that despite the 'USD' suffix in the name, this asset is not a stablecoin.
Project News
The Japanese cryptocurrency exchange DMM's gaming company will close the Seamoon Protocol.
Japanese cryptocurrency exchange operator DMM's gaming and NFT division DMM Crypto will close its Seamoon Protocol. The company announced that no new services will be added to the ecosystem, and future arrangements for existing services on the platform are under discussion.
Tether announced an upcoming investment in Quantoz Payments to launch stablecoins compliant with MiCAR standards.
According to official news, Tether announced an upcoming investment in Quantoz Payments to launch euro and dollar electronic money tokens (EMT) compliant with MiCAR standards, with Tether not disclosing its investment amount, and Quantoz will use Tether's Hadron asset tokenization platform.
Modular trading protocol Valantis completed a $7.5 million financing round, led by SevenX Ventures and Cyber Fund.
Modular trading protocol Valantis announced the completion of $7.5 million in Pre-Seed + Seed financing, led by SevenX Ventures, Cyber Fund, and Kraken Ventures, with participation from Semantic Ventures, Figment Capital, Monoceros, Robot Ventures, and Credibly Neutral. Angel investors include Anthony Sassano, Sandeep Nailwal, DeWhales Capital, Nathan Worsley (DeFi Cartel), among others.
HopeLend starts the full reimbursement process, users must fill out the form within 3 months to claim.
HopeLend has officially launched the full reimbursement process for users affected by a previous hack, fulfilling its promise to users. Affected users need to fill out a repayment application form, and HopeLend will verify whether the address provided by the user is the debt address of the Lend protocol. After verification, the transfer will be made directly, and users do not need to take action. Compensation will be settled in coin terms, with all HOPE native tokens converted to BTC / ETH / USDT / USDC according to the original minting ratio, and HOPE native tokens will be paid based on the above currencies at the original minting ratio.
BIO Protocol roadmap: Plans to launch the Launchpad testnet in Q4 and expand vBIO to Solana.
According to the DeSci project BIO Protocol roadmap shared by community user @zacxbt, the upcoming goals include: Q4 2024: Launchpad testnet, vBIO expansion to Solana; Q1 2025: Cohort 2 BioDAO incubation, BIO Protocol Launchpad, BIO token transferability, BIO liquidity pairings; Q2 2025: Cohort 2 community auction, BIO research agents; Q3 2025: Launch of a new BioDAO.
Person * Voice
Analyst: Ethereum has established a solid demand zone around $3000, which may support a rebound.
According to crypto analyst Ali's analysis on platform X, Ethereum has established a solid demand zone in the $3000 range, with 2.82 million addresses accumulating over 6.14 million ETH, and this key support level may pave the way for ETH to rebound to higher peaks.
Bank of America Securities: Nvidia's earnings report may determine the success or failure of the U.S. stock market rebound.
Bank of America Securities strategists expect Nvidia’s earnings report, scheduled for this Wednesday, to bring greater volatility compared to the next non-farm payroll data, consumer price index, or Federal Reserve decisions. They urged clients to hedge against potential impacts in case the earnings report results are disappointing. A team including Gonzalo Asis and Kwon Eu-seong stated in a report to clients on Monday: 'The market took a slight breather after last week's post-election rally, and we believe Nvidia's earnings report will determine the market's recent trend.' Bank of America Securities strategists noted that when Nvidia's earnings report is released on November 20, the implied volatility of the S&P 500 index aligns with Nvidia's own implied volatility, indicating that the risks from the earnings report exceed those from upcoming employment and inflation data or Federal Reserve meetings.
Bitfinex Alpha: The market's interest in Bitcoin is reaching mainstream asset levels.
Bitfinex released a report stating that a significant shift occurred in the Bitcoin market last week, with prices rising to a historic high of $93,318, reaching a market capitalization of $1.8 trillion. BTC has surpassed silver to become the eighth largest asset globally by market cap. This increase not only represents the strongest nine-day gain for Bitcoin since January 2021 but is also likely the largest short-term capital inflow of any asset class in history. This momentum indicates that interest in Bitcoin is reaching levels typically only associated with mainstream assets.
Bloomberg analysts: After Trump's victory, the Ethereum ETF has emerged from the depths of capital outflow.
Bloomberg senior ETF analyst Eric Balchunas stated on platform X that after Trump's victory, the Ethereum ETF has emerged from the depths of capital outflow, finally welcoming fresh air and net inflows. According to Bloomberg Intelligence data he presented, the cumulative capital flow of the Ethereum ETF has turned positive.
TD Securities: The market's pricing of the Federal Reserve's long-term policies will tend to ease.
TD Securities analysts stated that the fate of the global interest rate market will ultimately depend on the Federal Reserve. TD Securities expects the Federal Reserve to cut interest rates further, which means U.S. Treasury yields and other bond yields will decline. They stated in a report: 'We expect that as the easing cycle progresses, the pricing of the Federal Reserve's long-term policies will tend to ease, and the impact of declining Treasury yields will also be transmitted to other developed market bond markets.'
Vitalik: Hope to see more EVM Rollups improve data efficiency.
Ethereum co-founder Vitalik Buterin stated on platform X that part of L2 scaling is Ethereum increasing its blob capacity, and another part is Rollups becoming more data efficient. It's great to see Starknet rise to the challenge, and I hope to see more EVM Rollups improve data efficiency.
