1. Japanese cryptocurrency exchange DMM Bitcoin plans to cease operations
Japanese cryptocurrency exchange DMM Bitcoin plans to cease operations and transfer customer assets to SBI VC Trade, an exchange operator under the SBI Group, around March next year, according to Nikkei. DMM Bitcoin was hacked in May, resulting in losses of approximately 48.2 billion yen (about $321 million).
2. South Korea’s Democratic Party agrees to postpone cryptocurrency profit tax until 2027
According to the Korea Herald, the Democratic Party of South Korea has agreed to the ruling party's proposal to postpone the implementation of cryptocurrency profit tax by two years to 2027. Previously, the Democratic Party proposed to start implementing the plan in January next year and proposed to increase the tax deduction limit from 2.5 million won to 50 million won.
3. PeckShield: In November, there were over 30 hacking incidents in the cryptocurrency sector, resulting in losses of approximately 85.53 million USD.
According to PeckShield's monitoring, in November 2024, there were over 30 hacking incidents in the cryptocurrency sector, resulting in approximately 85.53 million USD in losses, of which about 25.2 million USD was recovered. Among these, Thala lost 25.5 million USD (with 25.2 million USD recovered + 300,000 USD in bug bounty), making it the largest hacking incident of the month.
4. Michael Saylor gave a speech at the Microsoft board meeting, suggesting that Microsoft adopt bitcoin.
MicroStrategy CEO Michael Saylor announced that he gave a three-minute speech about investing in bitcoin at the Microsoft board meeting, suggesting that Microsoft adopt bitcoin. Saylor stated that bitcoin is a form of digital capital, and Microsoft should be driven by digital capital.
5. Metaplanet plans to distribute bitcoin rewards worth a total of 30 million yen to 2,350 eligible shareholders.
Japanese listed company Metaplanet released details about its shareholder bitcoin benefit plan. Specifically, Metaplanet plans to distribute a total of 30 million yen (approximately 199,300 USD) in bitcoin to 2,350 eligible shareholders by the end of April 2025. 'Qualified shareholders' must hold at least 100 shares of Metaplanet stock by December 31, 2024, and open a new account with SBI VC Trade between November 18, 2024, and March 31, 2025.
6. Grayscale and three other asset management companies submit applications to the SEC for a bitcoin ETF designed to use derivatives to reduce investor losses.
According to the Financial Times, four asset management companies, including Grayscale Investments, Calamos Investments, First Trust Portfolios, and Innovator ETFs, have submitted applications to the U.S. Securities and Exchange Commission (SEC) to launch a bitcoin ETF that uses derivatives to mitigate or protect against investor losses. Specifically, these ETFs include Buffered ETFs and Managed Floor ETFs. If approved, these ETFs could list as early as February next year.
7. Standard Chartered's tokenized platform Libeara will launch an Ethereum-based tokenized fund in Singapore.
According to reports, the tokenization platform Libeara, nurtured by Standard Chartered's SC Ventures, will launch a dollar tokenized money market fund in Singapore this month, initially on the Ethereum mainnet. Alexandre Deschatres, head of business development at Libeara, stated in an interview that before a full on-chain launch, they would assess the liquidity status of U.S. Treasury bonds with Wellington and Fundbridge.
8. Coinbase withdraws its pre-application to enter the Turkish cryptocurrency market.
According to Cryptonews, Coinbase has withdrawn its pre-application to enter the Turkish cryptocurrency market. Additionally, QNB Digital Assets, a subsidiary of Turkey's QNB Bank, also withdrew its application. The reasons for Coinbase's withdrawal remain unclear.
9. South Korea expands its investigation into cryptocurrency price manipulation to individual investors.
According to News1, since the implementation of South Korea's (Virtual Asset User Protection Act) six months ago, the Financial Services Commission (FSS) of South Korea is expanding its investigation into cryptocurrency price manipulation to individual investors. Recently, an investor was suspected of price manipulation by the FSS due to frequent short-term trading on a major exchange and is undergoing a related investigation, with the FSS requiring the investor to prove they had no intention of manipulating the market.
10. Nano Labs plans to purchase and hold 50 million USD worth of bitcoin over the next five years.
Cryptocurrency mining chip design company Nano Labs (Nasdaq: NA) plans to purchase and hold 50 million USD worth of bitcoin over the next five years. Nano Labs stated that this strategic decision highlights the company’s confidence in bitcoin as a long-term store of value and a fundamental asset in the rapidly evolving Web 3.0 ecosystem.
11. AI public company Genius Group increased its bitcoin holdings worth 1.8 million USD, raising its total to 172 bitcoins.
AI public company Genius Group Limited (NYSE American: GNS) has added an additional 1.8 million USD worth of bitcoin to its bitcoin treasury, bringing its total to 172 bitcoins, valued at 15.8 million USD, with an average price of 92,006 USD.
The company announced its 'Bitcoin First' strategy on November 12, committing to hold 90% or more of its current and future reserves in bitcoin, with an initial target of 120 million USD in bitcoin. Over the next three weeks, it purchased a total of 15.8 million USD in bitcoin.
12. MicroStrategy increased its holdings of 15,400 bitcoins by about 1.5 billion USD.
Michael Saylor, founder of MicroStrategy, stated that MicroStrategy increased its holdings of 15,400 bitcoins by about 1.5 billion USD, with an average price of approximately 95,976 USD and a year-to-date return on bitcoin of 63.3%.
As of December 2, 2024, the company holds 402,100 bitcoins, with a total acquisition cost of approximately 23.4 billion USD and an average purchase price of approximately 58,263 USD.
13. WisdomTree submits S-1 registration document for XRP ETF to the SEC.
ETF issuer WisdomTree has submitted an S-1 registration document for the 'WisdomTree XRP Fund' to the U.S. Securities and Exchange Commission (SEC). The WisdomTree XRP Fund is an exchange-traded fund (ETF) that issues beneficial ordinary shares and will be listed on the Cboe BZX Exchange, Inc. under the ticker symbol 'TICKER'. The investment objective of the trust is to gain exposure to XRP prices while reducing the operational costs and liabilities of the trust. The Bank of New York Mellon (BNYM) serves as the trustee, fund accountant, and transfer agent for the trust.
14. Bitcoin mining company MARA plans to issue 700 million USD in convertible preferred notes to purchase bitcoin.
Bitcoin mining company MARA plans to privately issue 700 million USD of zero-coupon convertible preferred notes (due in 2031), with proceeds mainly used for purchasing bitcoin and repurchasing existing convertible notes due in 2026.
