Today's news tips:
1. Chicago Board Options Exchange will launch its first cash-settled options product related to spot Bitcoin on December 2
2. Trump nominates hedge fund executive Scott Bessent as Treasury Secretary
3. Jaime Lizárrag, one of the three Democratic members of the U.S. SEC, plans to resign early next year
4. Bitcoin financial public chain Side Protocol will open airdrop registration on November 26
5. Magic Eden (ME token) TGE will be held on December 10, and the airdrop scale is expected to exceed US$500 million
6. CZ unfollowed Musk on platform X
7.Coinbase signs sponsorship agreement with NBA Los Angeles Clippers
8. ZKasino misappropriated the funds to be returned to users and used leverage to buy ETH on the chain
Regulatory News
CBOE to launch first cash-settled options product tied to spot Bitcoin on December 2
According to Walter Bloomberg, the Chicago Board Options Exchange (CBOE) announced today that it plans to launch the first batch of cash-settled index options linked to the spot price of Bitcoin starting on Monday, December 2. These options will be listed and traded exclusively on the CME Options Exchange, regulated by the U.S. Securities and Exchange Commission, and based on the new CME Bitcoin US Exchange Traded Open-End Index Fund (ETF) Index. Rob Hocking, Global Head of Product Innovation at CME, said: "Our new series of options based on the CME Bitcoin US ETF Index provide traders with a timely and attractive solution for efficient exposure to Bitcoin spot. We expect the unique advantages of cash settlement, coupled with the launch of a variety of index-sized options and flexible options, will provide customers with more flexibility in trading strategies. Our index options offer a unique value proposition that we believe will be attractive to both institutional participants and retail traders who want to profit from or hedge against Bitcoin price fluctuations without directly holding the asset."
Robinhood Chief Legal Officer Dan Gallagher Will Not Become SEC Chairman
According to @tier10k citing CNBC, Robinhood Chief Legal Officer Dan Gallagher will not serve as Chairman of the U.S. Securities and Exchange Commission (SEC).
Jaime Lizárrag, one of three Democratic SEC commissioners, plans to resign early next year
Jaime Lizárrag, one of the three Democratic commissioners of the U.S. Securities and Exchange Commission, plans to resign early next year. He has informed President Joe Biden of his plan to leave at the end of January. Jaime Lizárrag said he was leaving to spend more time with his family. Just one day before Lizárraga announced his resignation, U.S. SEC Chairman Gary Gensler said he planned to resign in January. This means that Commissioner Caroline Crenshaw will become the only Democrat to lead the U.S. Securities and Exchange Commission. Gensler said that he and Lizárraga not only worked together at the U.S. Securities and Exchange Commission, but also worked together at the U.S. Treasury Department after the 2008 financial crisis.
Trump nominates hedge fund executive Scott Bessent for Treasury secretary
Trump nominated Scott Bessent, who runs macro hedge fund Key Square Group, to be the next U.S. Treasury secretary, hiring a key adviser to manage the sweeping economic agenda he vowed to implement in his second term, Bloomberg reported.
If confirmed by the U.S. Senate, Scott Bessent would become the nation's first openly gay Treasury secretary and one of the wealthiest in modern times. Scott Bessent has said he always wanted to serve his country, but his sexual orientation kept him from the U.S. Naval Academy in the 1980s and from the State Department after graduating from Yale University. As the nation's top economic policymaker, Scott Bessent must navigate political wrangling in Washington, lead international economic diplomacy and apply his Wall Street experience to crisis response. He will also be closely watched by investors and financial institutions as they look to see predictability and stability in the economy.
Scott Bessent, who managed money for billionaire George Soros, whose family office made about $10 billion, or about 13% annualized, while he was head of investments, has since started Key Square, which Soros initially invested $2 billion in, which he later returned as other investors joined.
The U.S. CFTC has approved the use of blockchain technology to manage trading collateral in the derivatives market
The U.S. Commodity Futures Trading Commission (CFTC) has approved the use of blockchain technology to manage trading collateral in the U.S. derivatives market, according to a report released by the CFTC’s Global Markets Advisory Committee on Nov. 21. The report states that blockchain technology, including distributed ledgers and tokenization, can address long-standing challenges of traditional derivatives exchanges and expand the types of assets that can be used for collateral trading.
Project News
The board of directors of the US listed company Anixa Biosciences approved the purchase of Bitcoin as a reserve asset
According to PR Newswire, U.S. listed company Anixa Biosciences, Inc. (NASDAQ: ANIX) announced that its board of directors has approved the purchase of Bitcoin as a treasury reserve asset, aiming to diversify the company's assets while enabling Anixa to benefit from the potential long-term value of digital assets.
It is reported that Anixa is a clinical-stage biotechnology company focusing on cancer treatment and prevention.
Sui forms strategic partnership with Franklin Templeton Digital Assets
According to the official blog, Sui has established a strategic partnership with Franklin Templeton Digital Assets, focusing on supporting Sui ecosystem builders and deploying new technologies using the Sui blockchain protocol.
Coinbase Signs Sponsorship Agreement with NBA’s Los Angeles Clippers
According to Decrypt, Coinbase has signed a sponsorship agreement with the NBA Los Angeles Clippers and become the official partner of the Los Angeles Clippers. This cooperation marks a multi-year cooperation between the two parties, which will provide fans with exclusive experiences, limited edition merchandise, and unique digital and physical collectibles. The financial details of this cooperation have not yet been disclosed. Coinbase will provide new and old users with $5 worth of Bitcoin, as well as season benefits for creating a Coinbase account. The Coinbase brand will appear extensively on signs inside the Intuit Dome venue, which is the first time the Clippers have used the new venue as their home court this year.
According to previous news, Coinbase has reached a cooperation with the NBA Golden State Warriors, and its brand will appear prominently in Chase Center and the team’s limited edition merchandise.
Magic Eden (ME token) TGE will be held on December 10, and the airdrop scale is expected to exceed US$500 million
The ME Foundation will launch the Solana-based ecosystem token ME on December 10, and based on pre-market trading prices, it is expected that the value of this airdrop may exceed US$500 million. The token will only be available through the Magic Eden wallet application.
According to previous news, Magic Eden announced the economic model of ME tokens: the total supply is 1 billion, and more than half is allocated to the community.
ZKasino misappropriated funds that were to be returned to users and used leverage to buy ETH on the chain
According to monitoring by on-chain analyst Ember, the ZKasino address began to embezzle funds that were to be returned to users to leverage long ETH on the chain 7 hours ago. They deposited 5,270 ETH into Aave as collateral to borrow 11.589 million DAI, and then bought 3,500 ETH.
Yu Jin said that on April 21, the ZKasino project team changed the 10,515 ETH ($35.17M) that users deposited into ZKasino mining to subscribe to their platform tokens by modifying the official website. On May 28, the ZKasino project team issued an announcement allowing users to apply for a refund, but no refund has been made until now.
CZ unfollowed Musk on platform X
According to the X platform, Binance co-founder CZ unfollowed Musk about 6 hours ago.
Kraken plans to add support for 19 more tokens including BNB, DYDX, AR, COW, DOGS, etc.
The cryptocurrency exchange Kraken's listing roadmap shows plans to add 19 emerging popular tokens, including BNB, DYDX, AR, COW, DOGS, FWOG, GOAT, PNUT, NOT, Neiro, etc. Currently, Kraken has listed more than 300 tokens.
Bitcoin financial public chain Side Protocol will open airdrop registration on November 26
Bitcoin financial public chain Side Protocol has launched an airdrop. Registration for the airdrop will be open at 18:00 (UTC+8) on November 26, with a total of 100 million SIDE tokens issued. The airdrop covers multiple categories, including users who spend more than 0.005 BTC on the Bitcoin network between January 1, 2023 and November 1, 2024; NFT communities include Pudgy Penguins, Milady, Mad Lads, Bitcoin Puppets, NodeMonkes, Ordinal Maxi Biz, Bitcoin Frogs, Pizza Ninja, Quantum Cats, Runestone, Bad Kids, Celestine Sloth; ATOM stakers and public goods donors; testnet points users. The airdrop tokens will be released after the mainnet is launched.
Earlier news, Bitcoin financial public chain Side Protocol announced the $SIDE token economic model. The total supply of $SIDE tokens is 1 billion, and its functions include protocol revenue value accumulation, payment of transaction fees, network security pledge and on-chain decentralized governance. Token distribution includes: 20% ecological reserve, 18% team, 17% community treasury, 15% public offering, 13% private offering, 7% liquidity, and 10% airdropped to eligible active Bitcoin users, NFT communities, Cosmos communities and testnet participants. $SIDE will first be issued in the SPL standard on Solana, and the mainnet is expected to be launched in January 2025, when it can be converted into mainnet tokens and participate in pledge and governance.
Important data
Ethereum spot ETF had a net inflow of $91.2093 million yesterday, the first net inflow after a net outflow in the past 6 days
Bitcoin spot ETF had a net inflow of $490 million yesterday, continuing its net inflow for 5 consecutive days
CryptoQuant: Ethereum futures open interest hits record high of over $20 billion
Ethereum's derivatives market may be sending bullish signals as futures open interest surged more than 12% to a record $20.8 billion on Friday, The Block reported. According to a report from CryptoQuant, Ethereum OI-weighted futures funding rates have surged several times over the past week, hitting new all-time highs, indicating that bullish traders are dominant. The CryptoQuant report added that according to Coinglass data, the current funding rate is 0.0374%, indicating that market sentiment is bullish on price increases in the short term.
. In addition, Ethereum’s estimated leverage ratio (a measure of open interest divided by exchange reserves) has climbed to a new record high of 0.40. This suggests that traders are increasing their risk exposure as they use higher leverage to amplify potential returns. However, the CryptoQuant report warns that increased leverage and the dominance of long positions could increase the risk of a long squeeze; sudden price movements could trigger liquidations, leading to market corrections.
Tether Treasury minted 1 billion USDT on Ethereum network in the early morning
Whale Alert monitoring shows that Tether Treasury minted 1 billion USDT on the Ethereum network early this morning. Tether CEO Paolo Ardoino said that this was an authorized but unissued transaction, which means it will be used as inventory for the next issuance request and on-chain exchange.
A smart money sold ETH at a high price and converted it into WBTC. After BTC reached a new high, it was converted back to ETH, making a net profit of 1533 ETH in eight months.
According to @ai_9684xtpa’s monitoring, some smart money sold ETH at a high price and converted it into WBTC, and then converted it back to ETH after BTC reached a new high, making a net profit of 1533 ETH in eight months.
On March 19, when ETH was $3,518, the smart money exchanged 2,942 ETH for 150 WBTC at a cost of $62,724; it also bought 116 WBTC.
10 hours ago, when BTC was $98,828, 90.8 WBTC were exchanged for 2,709 ETH at a cost of $3,312.
In addition, the WBTC position that was established separately also had a floating profit of US$4.156 million.
