Today's news highlights:
MicroStrategy's Bitcoin holdings have surpassed an unrealized profit of over 10 billion USD.
Tether issued 4 billion USDT on Ethereum in the past three days, most of which flowed into exchanges.
Trump proposes to pay Kamala Harris 20 million USD in campaign debt.
Ethereum's market capitalization has surpassed Johnson & Johnson, ranking 33rd globally.
Cardano founder: Will work with lawmakers and the government to push a bipartisan bill for passage.
CoinGecko: CryptoPunks and BAYC are the only two NFT series that have consistently ranked in the top 10 by average monthly market value since 2022.
This week's NFT trading volume increased by 14.99% to 95.72 million USD, but the number of buyers decreased by over 90%.
NEAR AI launched the Alpha version, which includes an AI assistant and research center.
Regulatory news.
A pyramid scheme organization using 'blockchain' and 'virtual currency' as gimmicks has been prosecuted and sentenced, with an amount involved exceeding 210 million yuan.
According to the official account of the Yunnan Provincial People's Procuratorate, recently, the Shidian County Prosecutor's Office prosecuted Li and ten others for organizing and leading pyramid selling activities. After court hearings, the ten defendants were sentenced to varying prison terms from six years to two years for the crime of organizing and leading pyramid selling activities, and were fined between 500,000 and 100,000 yuan.
Since May 2021, Li and others have gathered individuals such as Huang and Jin, using 'blockchain' and 'virtual currency' as gimmicks to seek illegal profits by claiming to purchase and hold virtual digital currency A and issuing virtual digital currencies B and C. They set up five capital pools on online platforms, combining offline and online methods through in-person meetings and WeChat groups, creating personas of successful individuals, using special professional backgrounds, and promoting slogans such as 'one coin, one mansion; one coin, one luxury car' and 'earn hundreds of thousands in a day' to extensively promote reward systems and profit prospects, deceiving the public into joining by purchasing, destroying, or contributing to capital pools, and completing assigned tasks to receive static dividends and dynamic returns based on the number of recruits and investment amounts, forming five rebate tiers. According to appraisals, the pyramid scheme funds raised by Li and others through online platforms totaled over 210 million yuan.
The Shidian County Prosecutor's Office reviewed and believed that Li and nine other defendants used virtual currency as a gimmick, collaborating to defraud property through online platforms, disrupting economic and social order, with a total of 210 million yuan in pyramid scheme funds, which is a serious situation. The actions of Li and the other nine defendants violated Article 224-1 of the Criminal Law of the People's Republic of China and have constituted the crime of organizing and leading pyramid selling activities. After court hearings, the above judgments were made.
Trump proposes to pay Kamala Harris 20 million USD in campaign debt.
According to Watcher.Guru, elected president Donald Trump proposed to pay Kamala Harris 20 million USD in campaign debt.
The FTX bankruptcy group is suing Anthony Scaramucci and SkyBridge Capital to seek the recovery of over 100 million USD.
According to Cointelegraph, the FTX bankruptcy group seeks to recover over 100 million USD from SkyBridge Capital and founder Anthony Scaramucci to reclaim funds spent by former FTX CEO Sam Bankman-Fried (SBF) in sponsorship and investment agreements made with Scaramucci and SkyBridge since 2022.
According to legal documents dated November 8, before FTX's collapse, Bankman-Fried had a series of investments and partnerships with SkyBridge Capital and Scaramucci—first sponsoring 12 million USD to Scaramucci's SALT conference in January 2022. Shortly after, in March 2022, SBF instructed Alameda Research to invest 10 million USD in the SkyBridge Coin Fund. Later, in September 2022, FTX acquired a 30% stake in the operating company managing SkyBridge's investment tools for 45 million USD. FTX's lawyers believe this investment lacked financial awareness—suggesting that 'FTX Group could have easily purchased a basket of cryptocurrencies for much less cost than the majority of the 45 million USD investment.'
FTX filed a lawsuit to recover 27 million USD from Alameda's accounts at Huobi and Poloniex.
FTX creditor Sunil stated on platform X that FTX filed a lawsuit to recover 27 million USD from the Huobi and Poloniex accounts held by Alameda.
Project dynamics.
BTC breaks through 79,000 USD, daily increase of 3.98%.
OKX market data shows that BTC has just broken through 79,000 USD, currently reported at 79,356.10 USD per coin, with a daily increase of 3.98%.
CoinGecko: CryptoPunks and BAYC are the only two NFT series that have consistently ranked in the top 10 by average monthly market value since 2022.
According to data disclosed in CoinGecko's NFT report, CryptoPunks currently dominates the NFT market, holding a 30.9% share among top collections. Since surpassing Bored Ape Yacht Club (BAYC) in May 2023, its leading position has been solidified. Previously, in early 2022, CryptoPunks' dominance was 24.8%, lagging behind the then-leader BAYC's 29.3%. Although CryptoPunks briefly surpassed BAYC in November 2022, it fell back to second place but managed to maintain a narrow market share gap due to its more resilient floor price, regaining the top spot in May 2023.
It is worth noting that CryptoPunks is the only NFT collection that saw its dominance increase by 10.0 percentage points in one year, with its market share rising from 23.6% to 33.6% in 2023. Although CryptoPunks' dominance has slightly decreased since the beginning of this year, it remains the largest NFT collection to date, with a market share exceeding 29.5%, more than double that of any other collection.
Additionally, CryptoPunks and BAYC are the only two NFT series that have consistently ranked in the top 10 by average monthly market value since 2022. During these three years, five other series have frequently entered the top 10 but failed to maintain continuity: Mutant Ape Yacht Club (MAYC), Azuki, Autoglyphs, Snowfro's Chromie Squiggle, and Tyler Hobbs' Fidenza.
Cardano founder: Will work with lawmakers and the government to push a bipartisan bill for passage.
According to CoinGape, Cardano founder Charles Hoskinson stated in a recent speech that he will work with lawmakers and the government to push a bipartisan bill for passage. His company, Input Output Global (IOG), will establish a separate policy department for cryptocurrency regulation. This office will focus on developing a legislative framework that incorporates the provisions of the Financial Innovation and Technology Act (FIT21) and the Responsible Financial Innovation Act (RFIA).
NEAR AI launched the Alpha version, which includes an AI assistant and research center.
NEAR AI stated on platform X that the Alpha version has been launched, which includes the NEAR AI assistant (Alpha) with user-exclusive memory that can take action on behalf of users across Web2 and Web3 by connecting to other AI agents and services. The assistant knows how to present responses and generates custom front-ends when needed. Additionally, there is the NEAR AI research center supporting community-built AI research and the creation of foundational models.
Solana co-founder: Solana's advantage lies in execution, with its core potential in perfecting its infrastructure.
In a recent interview, Solana's founder Anatoly Yakovenko discussed the unique position of this ecosystem in the blockchain field. 'In my opinion, scalability, infrastructure focus, and transaction efficiency are the three major advantages of Solana.' Of course, he also recognized the challenges Solana faces in a world where blockchain technology is constantly evolving and platforms are further developing.
Anatoly Yakovenko compared Solana with Ethereum and various L2 solutions, emphasizing the trade-offs between L1 and L2. L2 solutions typically use centralized sorters for low-latency transaction sorting. However, Yakovenko pointed out that these could lead to the same congestion issues as L1 chains. While L2 is often seen as a short-term solution to congestion problems, they face scalability bottlenecks when multiple applications or markets use them.
Yakovenko emphasized that Solana's advantage lies in execution. While Ethereum is expanding through L2, Solana's development is still focused on perfecting its L1. He acknowledged that one day, blockchains will provide similar functionalities to Solana and offer faster iterations, but for now, Solana's pace of improvement keeps it far ahead of competitors. For Anatoly Yakovenko, the core potential of Solana lies in perfecting its infrastructure to support fairer and more open transaction processing, achieving a truly decentralized future. He stated that this would make Solana one of the leading blockchains in the coming years.
Financing news.
Former ParaFi Capital partner launches private equity fund Inversion Capital.
According to The Block, Santiago Roel Santos, a former partner at blockchain venture capital firm ParaFi Capital, announced the launch of a private equity fund, Inversion Capital, aimed at acquiring traditional businesses and transforming their operations through the adoption of cryptocurrency technology. Santos believes that some businesses can solve coordination issues—manifesting as higher operating costs, capital expenditures, or declining unit economics—by adopting crypto tools. It doesn't matter whether business owners are reluctant to accept cryptocurrencies, as Inversion Capital will not become investment partners—it will directly acquire these businesses.
Important data.
This week's NFT trading volume increased by 14.99% to 95.72 million USD, but the number of buyers decreased by over 90%.
According to News.bitcoin, this week's NFT sales reached 95.72 million USD, a 14.99% increase from the previous week, after several weeks of declining trading volume. However, the number of buyers dropped significantly by 90.21%, while the number of NFT sellers decreased by 88.80%. Ethereum had the highest sales volume this week, reaching 31.14 million USD, up 13.25%. Following closely, NFT sales centered around Bitcoin ranked second with 26.01 million USD, while Solana ranked third with sales of 12.97 million USD from November 2 to November 9.
Pendle team address transferred 1.4 million PENDLE to Binance, worth approximately 7.74 million USD.
According to on-chain analyst Yu Jin's monitoring, in the past half hour, another Pendle team address transferred 1.4 million PENDLE (7.74 million USD) to Binance. Adding to this, another team address transferred out 625,000 PENDLE yesterday afternoon, resulting in a total of 2.025 million PENDLE (11.11 million USD) flowing into Binance in just over a day.
Tether issued 4 billion USDT on Ethereum in the past three days, most of which flowed into exchanges.
According to Spot On Chain monitoring, Tether issued 4 billion USDT on Ethereum in the past three days. Notably, approximately 3.44 billion USDT has been transferred to various exchanges, with 1.75 billion USDT flowing into Binance and 770.8 million USDT into Coinbase.
A whale that previously invested 5.2 million USD in MOODENG and incurred losses is now profiting over 3 million USD.
According to Onchain Lens monitoring, a whale that previously invested 5.2 million USD suffered significant losses when MOODENG's market cap fell below 100 million USD, but as MOODENG hit a new high, the whale still holds MOODENG, profiting over 3 million USD.
Ethereum's market capitalization has surpassed Johnson & Johnson, ranking 33rd globally.
According to Infinite Market Cap data, Ethereum has surpassed Johnson & Johnson in global asset market capitalization, ranking 33rd.
MicroStrategy's Bitcoin holdings have surpassed an unrealized profit of over 10 billion USD.
At the current price of Bitcoin at 79,000 USD, MicroStrategy's Bitcoin holdings have an unrealized profit exceeding 10 billion USD. Prior reports indicated that as of today, MicroStrategy holds a total of 252,220 Bitcoins, with a total purchase cost of approximately 9.9 billion USD, an average price of about 39,266 USD.
