Author | Wu Says Blockchain
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This week's news Top10
1. BTC briefly breaks $99,000, setting a new historical high link
BTC briefly broke $99,000, setting a new historical high, with a current quote of $98,696 at the time of publication, a 24-hour increase of 1.44%.
2. U.S. SEC Chairman Gary Gensler will step down on January 20, 2025 link
The U.S. Securities and Exchange Commission (SEC) announced that current Chairman Gary Gensler will step down on January 20, 2025.
3. Central Commission for Discipline Inspection: Yao Qian was expelled for utilizing virtual currencies for power and money transactions link
Yao Qian, former director of the Technology Supervision Department of the China Securities Regulatory Commission and former director of the Information Center, was expelled from the party and public office for serious violations of discipline and law, and was transferred to judicial authorities for handling. According to the Central Commission for Discipline Inspection and National Supervisory Commission website, Yao Qian abused regulatory power for personal gain, used virtual currencies for power and money transactions, and was involved in multiple violations of integrity discipline and policy regulations. As one of the pioneers of China's central bank digital currency, Yao Qian actively participated in financial technology and cryptocurrency research and popularization during his tenure. Currently, Yao Qian is under investigation for serious violations of discipline and law and has been transferred by the Shantou Municipal Supervisory Commission in Guangdong Province to the procuratorial organs for legal examination and prosecution, along with the involved assets.
4. Bitcoin ETF options will be listed for trading link
On September 20, 2024, the U.S. SEC approved the listing and trading of options for iShares Bitcoin Trust. On November 15, 2024, the CFTC's Clearing and Risk Department issued an employee advisory related to the clearing of these options. According to this advisory, the OCC is preparing for the clearing, settlement, and risk management of such options. The OCC website published an updated listing date showing the listing date for IBIT options as Tuesday, November 19.
5. Trump's team discusses establishing a White House cryptocurrency position and reviewing candidates link
Trump's team is discussing establishing a position in the White House specifically responsible for cryptocurrency policy. This position may aim to coordinate policies between federal agencies and communicate with industry stakeholders to address issues related to the cryptocurrency field. It is currently unclear whether this position will be a senior White House role or its specific scope of responsibilities.
Informed sources reveal that President-elect Trump will meet with Coinbase CEO Brian Armstrong to discuss personnel arrangements for the second government. This will be the first meeting between the two since the election, expected to involve cryptocurrency regulation. Previously, Trump proposed the establishment of a Bitcoin and cryptocurrency advisory committee, and Armstrong publicly supported current SEC commissioner Hester Peirce for the chair position. Moreover, Coinbase donated over $100 million to several political action committees before the election, most of which went to Fairshake, funded by the cryptocurrency industry.
6. Robert F. Kennedy Jr.: I have invested most of my wealth in Bitcoin, so I am fully committed to it link
Former U.S. presidential candidate Robert F. Kennedy Jr. recently released a video stating, 'I am a staunch supporter of Bitcoin. A year ago, I attended another Bitcoin conference here. After returning home, I invested most of my wealth in Bitcoin, so I am fully committed to it.' Previously, Robert F. Kennedy Jr. described Bitcoin as 'freedom money' and reiterated the ability of digital assets to hedge against currency inflation.
7. CZ: Countries will compete to include Bitcoin in their strategic reserves link
CZ expressed appreciation for MicroStrategy founder Michael Saylor's speech, stating: 'A wonderful speech. Worth listening to. Thank you for the support of Binance in the video.' Countries will compete to print money to buy Bitcoin, i.e., Bitcoin strategic reserves. No one wants to be the last.
8. Polish presidential candidate Sławomir Mentzen: If elected, he will establish a strategic Bitcoin reserve link
Polish presidential candidate Sławomir Mentzen promised that if elected, he would adopt a strategic Bitcoin reserve. However, Sławomir Mentzen's Liberty and Independence Alliance only received 7.16% of the votes in the parliamentary elections. Previously, Mentzen revealed in 2022 that he invested all his funds in Bitcoin in 2013. He also disclosed in his 2023 asset declaration that he holds Bitcoin valued at approximately 4.9 million zloty (around $1.196 million).
9. MicroStrategy has recently purchased 51,780 BTC for $4.6 billion link
MicroStrategy announced it has accumulated 331,200 bitcoins, with a total cost of approximately $16.5 billion and an average purchase price of $49,874 per coin. The latest purchase of 51,780 BTC cost about $4.6 billion, with a unit price of $88,627. As of November 17, 2024, the company's quarterly BTC yield reached 20.4%, and its year-to-date yield was 41.8%.
10. Cryptocurrency market MEME frenzy link
Following Tuesday's 'case sensitivity battle', the 'running kid brother' created the most talked-about meme token of Wednesday, Quant. 'Kid brother' issued a token named Quant through pumpfun during a live broadcast and sold all reserved shares shortly after issuance, earning about $20,000. As the story spread, the meme community decided to use a pump to teach 'kid brother' a lesson. After Quant, 'kid brother' issued two more tokens: the first was sorry, perhaps expressing an apology; the second was lucy, named after his dog. The meme community also found 'kid brother's' family members' social media accounts and issued a series of 'kid brother' ecosystem meme tokens.
On Thursday, Ethereum founder Vitalik Buterin's address vitalik.eth exchanged 0.082 ETH (approximately $249.63) for 30,303 ANON. ANON is an AI MEME coin based on the Base ecosystem, created by anonymous users interacting with AI Agent account @clanker in the Farcaster ecosystem through the Superanon account. Users holding 15,000 ANON can post on Farcaster, and those holding 1 million ANON can post or delete posts on Twitter. The official website claims it uses zk proofs for anonymous posting. Due to complex calculations, posting and executing other actions may take several minutes. Jesse Pollak, head of the Base protocol, exchanged 0.333 ETH (approximately $993.41) for 31,529 ANON.
Dogecoin UI designer DogeDesigner shared an audio clip of Musk saying: I still hold a large amount of Dogecoin, and SpaceX holds a large amount of Bitcoin.
DWF Labs announced the launch of a $20 million 'Meme Fund' to support innovative meme projects across multiple blockchains. DWF Labs has previously collaborated with tokens such as Floki, Turbo, Simon’s Cat, Neiro Ethereum, and First Neiro on Ethereum. The Meme Fund aims to provide financial and strategic support to projects demonstrating strong community engagement, unique value, and potential global impact.
This week, major exchanges actively listed MEME tokens. Coinbase announced it will add support for FLOKI (FLOKI) on the Ethereum network (ERC-20 tokens). South Korea's largest exchange, Upbit, announced the launch of the Korean won trading market for BONK. Binance launched several perpetual contracts for MEME tokens this week, including SLERF, BAN, DEGEN, and others.
Analyst @defioasis summarized that memecoins may see beta tokens: leading players in segmented tracks; surviving after 2-3 corrections of about 70-80%; FDV of 20M-30M is optimal; large and continuously growing holder base; good community; already listed on secondary CEXs. He suggests that instead of frequent PvP, it is better to steadfastly choose HODL.
Key financing events
Mixed payment platform Rise announced the completion of a $6.3 million Series A financing link
Cryptocurrency wallet Deblock raised an additional $16.8 million in its seed round financing link
Move ecosystem development platform Shinami announced the completion of $5.645 million in seed round financing link
Valantis Labs completes $7.5 million in funding link
OpenLayer announced completion of $5 million in seed round financing link
Decentralized finance liquidity solution provider Barter completes $3 million in seed round financing link
Stablecoin infrastructure platform Noble announces completion of $15 million in Series A financing link
Bitcoin L2 solution Bitfinity Network announces completion of $12 million in funding link
Liquid Collective developer Alluvial completes $4.3 million in strategic financing link
For more industry financing events, refer to crypto-fundraising.info.
