Headlines
U.S. court ruled that sanctions against Tornado Cash smart contracts were illegal.
According to market news, a U.S. court ruled that sanctions against Tornado Cash smart contracts were illegal.
MicroStrategy founder Micheal Saylor reiterates he will not sell BTC.
Famous trader HORSE (@TheFlowHorse) wrote that if MicroStrategy founder Micheal Saylor sells Bitcoin, it would be one of the most successful trades in history, as his Bitcoin investment has so far yielded about $14.9 billion profit, and HORSE also listed some significant short-selling events in history.
In response, Micheal Saylor stated: 'I am not selling BTC.'
CZ: There is no attempt to end the Meme frenzy, just encouraging more builders.
CZ stated today on X: 'I am not opposed to Meme coins, but Meme coins have become 'a bit' strange now. Let's use blockchain technology to build real applications.'
Some community users stated that even Musk is a supporter of Meme coins, making it very difficult to end this frenzy. In response, CZ stated: 'There is no attempt to end anything; everyone has the right to choose what to invest in or hold. Just encouraging more builders.'
Additionally, some users inquired whether the cultural concept of 'Meme' still exists (as both CZ and Vitalik do not like Memes), to which CZ responded: 'We're all old dinosaurs. Well, Vitalik is still young. So there's only one dinosaur left.'
The NYSE has submitted 19 b-4 and S-1 documents to the SEC for listing the Bitwise BTCETH ETF.
Nate Geraci, president of The ETF Store, stated on X that the New York Stock Exchange (NYSE) submitted 19 b-4 and S-1 documents to the SEC, seeking to list the Bitwise Bitcoin Ether ETF. The product will hold both spot BTC and ETH, weighted by market cap.
Matt Hougan, co-founder of Bitwise, stated: 'Bitcoin and Ethereum are no longer competitors, just like gold and tech stocks are no longer competitors; I believe this ETF will be widely welcomed by investors.'
Industry News
CZ: Not opposed to Meme, suggesting building real applications.
CZ stated on X: 'I am not opposed to Meme coins, but Meme coins have become 'a bit' strange now. Let's use blockchain technology to build real applications.'
Report: Of the hundreds of Meme coins promoted by KOLs, two-thirds of the more than 1,500 are 'dead,' having fallen over 90%.
A recent report released by CoinWire shows that most Meme coins are worthless, with many investors facing significant losses. The report selected 377 KOLs who have at least 10,000 followers and frequently promote Meme coins, compiling a list of 1,567 Meme coins promoted in the past three months.
The report uses Dune Analytics to collect price information at the time of initial promotion, current prices, and prices one week, one month, and three months later. If the current value of a Meme coin has dropped by 90% or more compared to its initial promotion, it is considered 'dead.'
Results show that '76% of KOLs promoting Meme coins no longer exist. Two-thirds of the Meme coins they promoted are worthless. This means that many of the promotional activities driven by KOLs have actually caused losses for investors.'
Bankless co-founder promoted Ethereum in Chinese, calling it 'money.'
Bankless co-founder Ryan Sean Adams tweeted in Chinese on X, stating, 'Ethereum is money.' Following Meme father Murad's call for Chinese Meme coin players to join the Meme coin super cycle, it openly promoted Ethereum.
Previously, he stated, 'When demand finally arrives, ETH will experience an unprecedented supply shock, and then Ethereum will be in short supply.'
Greeks.live: The BTC options market sees massive block trades, with cumulative block call options trades exceeding $120 million for the day.
According to macro researcher Adam from Greeks.live, the Bitcoin options market has seen massive block trades, with more than 6,000 BTC worth of block trades accumulated since 9 PM, with cumulative block call options trades exceeding $120 million for the day. Among these, nearly 5,000 BTC transactions were active buys of call options for December 27 at prices between $92,000 and $100,000, and this buying behavior is still ongoing. In addition to the high number of purchase orders, the premiums for this wave of purchases are significantly higher than usual, approximately at more than double the premium cost. Analysts believe that whales are taking action.
Project News
The first phase of the Starknet staking program has launched on the mainnet, becoming the first Ethereum L2 to support staking.
According to official news, Starknet launched the first phase of the staking program on the mainnet, becoming the first Ethereum L2 network to support users earning rewards through staking tokens. Anyone holding STRK in their wallet can stake their tokens on Starknet as a validator or delegator, but in the first phase, validators must stake at least 20,000 STRK and run a full node to prepare for future staking phases, which will require further responsibilities and contribute to network maintenance and security. Users holding less than 20,000 STRK can delegate their tokens to validators for staking.
Additionally, Starknet reminds the community that neither StarkWare nor the Starknet Foundation will participate in staking activities, so they will not be eligible for any staking rewards. Furthermore, all locked tokens cannot participate in staking at this time.
DeFi Technologies subsidiary Valour launched the first Dogecoin ETP in the Nordics.
DeFi Technologies subsidiary Valour launched the exchange-traded product Valour Dogecoin (DOGE) ETP on the Spotlight Stock Market in Sweden, the first Dogecoin ETP launched in the Nordics.
The Movement Network Foundation announced MoveDrop, airdropping 10% of tokens to the community.
The Movement Network Foundation announced the MoveDrop airdrop plan, aiming to reward early users and community members of Movement. MoveDrop will allocate 1,000,000,000 $MOVE (10% of total supply) to the community, with eligible users including Road to Parthenon participants, Battle of Olympus award winners, Gmovers, designated communities, and Movement testnet builders.
Users can visit the MoveDrop website and register, with the deadline being December 2, 2024, at 2 PM UTC. After the TGE (coming soon), users can check MoveDrop eligibility and claim airdrops. Failing to register on time will result in the loss of eligibility for MoveDrop claims.
Users can choose to claim $MOVE on the Ethereum mainnet or wait until the Movement Network mainnet is launched (coming soon) to claim $MOVE, which will generate a 1.25x reward multiplier. The Movement Network Foundation also stated that it plans to distribute more $MOVE tokens in future events.
Previously reported, the Movement Network Foundation announced the economic model for the $MOVE token, with a total supply of 10 billion, and an initial circulation of about 22%. Of these, 60% of the tokens will be allocated to the community, including ecosystem and community (40%), initial claims (10%), and foundation (10%). The remainder will be allocated to early contributors (17.5%) and early investors (22.5%).
Binance will list Thena (THE) and launch HODLer Airdrops.
According to official announcements, Binance will launch Thena (THE) on November 27, 2024, at 10:00 AM (UTC), and open trading pairs THE/BTC, THE/USDT, THE/BNB, THE/FDUSD, and THE/TRY. Meanwhile, Binance will launch HODLer Airdrops, where users subscribing BNB to SimpleEarnFlexible or Locked products from 00:00 on November 6 to 23:59 on November 13 (UTC) will receive THE airdrop. The THE HODLer Airdrops page is expected to go live within 12 hours, and the new tokens will be distributed to users' spot wallets one hour before trading starts.
pump.fun transferred 99,999 SOL to Kraken, valued at $22.74 million.
According to Onchain Lens monitoring, pump.fun transferred 99,999 SOL to Kraken, valued at $22.74 million, and as of now, they have deposited 893,242 SOL at an average price of $164.
Investment and Financing
Schuman Financial completed a $7.36 million seed round, led by RockawayX.
Stablecoin issuer Schuman Financial completed a $7.36 million seed round in September, led by RockawayX, with participation from Lightspeed Faction, Kraken Ventures, Nexo Ventures, Gnosis VC, Delta Blockchain Fund, and Bankless Ventures. Additionally, Schuman Financial launched the EURØP euro stablecoin compliant with MiCA standards.
Schuman Financial has become the first European company to obtain a stablecoin issuer license in France, and is building an ecosystem around EURØP, which includes SEPA integration, banking channels, and custody partnerships with top global banks such as Société Générale. (The Block)
Talus Network completed a $6 million strategic round at a $150 million valuation, led by Polychain Capital.
Talus Network announced the completion of a $6 million strategic round financing at a valuation of $150 million, led by Polychain Capital, with participation from Animoca, Geek Cartel, Foresight Ventures, Echo, and several angel investors. Talus Network is a high-throughput blockchain protocol designed for decentralized AI agents, and to date, its total financing has reached $9 million. (TheBlock)
Regulatory Trends
Foreign media: The Trump administration is considering allowing the CFTC to lead digital asset regulation.
The incoming Trump administration hopes to expand the CFTC's powers, granting it significant regulatory authority over a large portion of the digital asset market.
Insiders state that with Trump's presidency and the increasing influence of the crypto industry in Republican politics, the responsibilities of the CFTC may soon expand to regulate the crypto spot market (such as Bitcoin and Ethereum) that are considered commodities, as well as the exchanges facilitating their trading.
Core members of Trump's team believe that regulatory relief is needed to stimulate innovation in the crypto business, including potentially transformative blockchain technology.
Former CFTC Chairman Chris Giancarlo stated: 'With sufficient funding and the right leadership, I believe the CFTC could start regulating digital goods on the first day of Trump's presidency.' (FOX Business)
The Federal Reserve is considering lowering the reverse repo rate by 5 basis points as a technical adjustment.
The Federal Reserve meeting minutes show that the Fed is considering lowering the reverse repo rate by 5 basis points as a technical adjustment. Some participants indicated that it may be appropriate to consider resetting the overnight reverse repo rate to the bottom of the federal funds rate target range in the future.
Voices of the figures
Trader Eugene: This is the most challenging bull market altcoin season I've ever experienced, still waiting and observing.
Trader Eugene Ng Ah Sio stated on X: 'I think this is the most challenging bull market altcoin season I've ever experienced. Capital flows mean little to me, and it's difficult to predict the extent of fluctuations.'
At this point, I would typically call for an appropriate altcoin rotation among the majority of popular cryptocurrencies in CT, but I'm not so sure now. Currently observing and waiting while preserving capital.
CryptoQuant founder: Bitcoin retail investors have not yet fallen into FOMO.
CryptoQuant founder and CEO Ki Young Ju stated on X that Bitcoin retail investors have not yet fallen into FOMO. Ki Young Ju shared a trading frequency activity chart of retail investors in the spot and futures markets showing steady growth without significant fluctuations.
