Compiled by: Luan Peng, ChainCatcher
Important Information:
Bitwise CEO: In the bull market, project owners and market makers should change their thinking and try to challenge higher market capitalization
Solana Co-founder: We Need a National XRP Reserve
Data: XRP's market value surpasses USDT, becoming the third largest cryptocurrency by market value
Pump.fun’s weekly revenue dropped 66% after suspending its live streaming function
Hashed founding partner: Ripple Labs sold XRP in South Korea as a "Ponzi scheme", and South Korea has a real XRP community
Changpeng Zhao responds to the view that he should be pardoned: I don’t want to be a CEO anymore, but I don’t mind being pardoned
DeBox operating account private key leaked, resulting in loss of more than 4.87 million BOX and 31 ETH
Clipper: The attack was caused by a vulnerability in the withdrawal function, not a private key leak as claimed by a "third party"
“What important events have occurred in the past 24 hours?”
Bitwise CEO: In the bull market, project owners and market makers should change their thinking and try to challenge higher market capitalization
Bitwise CEO Hunter Horsley posted on social media that the bear market breeds zero-sum thinking, in which one person profits by taking a piece of the shrinking pie from others.
But as of November this year, the total cryptocurrency market capitalization has now surpassed the previous high of $3 trillion in November 2021. The market is entering a period where the pie is getting bigger and bigger, and it is time to change the way of thinking. The winning mentality at this stage is to encourage maximizing the size of the pie, increasing the number of participants, treating the participants in the field well, and supporting the team to maximize their potential and advantages.
Solana Co-founder: We Need a National XRP Reserve
Solana co-founder Toly posted on X: “We need national XRP reserves.”
Earlier news, according to RootData market data, XRP's market value has surpassed SOL, breaking through 130.2 billion US dollars, ranking third in the cryptocurrency market value ranking (excluding stablecoins).
Data: XRP's market value surpasses USDT, becoming the third largest cryptocurrency by market value
According to RootData, XRP's market value exceeded US$140.05 billion, surpassing USDT (market value of US$134.209 billion) to become the third largest cryptocurrency by market value, returning to the level before the SEC/Ripple lawsuit.
Pump.fun’s weekly revenue dropped 66% after suspending its live streaming function
According to Cointelegraph, the Solana ecosystem meme coin issuance platform Pump.fun has seen a sharp drop in weekly revenue due to the suspension of the live broadcast function. Data shows that the platform hit a new high of $33.83 million in weekly revenue in the fourth week of November, an increase of nearly 400% from the beginning of the month. After shutting down the live broadcast function, revenue plummeted to $11.31 million between November 25 and December 1.
Previously, the platform was forced to suspend live streaming services due to users posting threatening content during live streaming, and many industry insiders warned that the incident could trigger a criminal investigation. Yuriy Brisov, partner at Digital and Analogue Partners, said this was "reasonable grounds for criminal investigation and civil litigation."
Hashed founding partner: Ripple Labs sold XRP in South Korea as a "Ponzi scheme", and South Korea has a real XRP community
Ryan Kim, founding partner of crypto investment institution Hashed, said on social media that in 2014, Ripple Labs sold XRP in South Korea in a "Ponzi scheme" through the "Ripple Market Korea" project, attracting a large number of Korean investors to participate. These early investors may have received considerable returns. There is a real XRP community in South Korea, which is why Koreans buy XRP in large quantities.
According to a Korean media report in November 2014, the platform operator Ripple Market Korea completed its first round of sales within 2 hours on its first day of operation. The platform issued its own token RMK and promised to return transaction fees to users in proportion to their holdings. At that time, the platform promoted XRP as being able to be exchanged with legal currencies of various countries, having received investment from Google Ventures, and complying with US regulations.
Changpeng Zhao responds to the view that he should be pardoned: I don’t want to be a CEO anymore, but I don’t mind being pardoned
In response to the suggestion of John Lilic, a member of The Telos Foundation, that "Trump should pardon Changpeng Zhao and allow him to return to the position of CEO," Changpeng Zhao responded that he was unwilling to return to the position of CEO of Binance, but "definitely did not mind being pardoned."
DeBox operating account private key leaked, resulting in loss of more than 4.87 million BOX and 31 ETH
DeBox officially announced that due to the leakage of the EOA wallet private key of the DeBox operating account, 31.03 ETH and 4.879 million BOX were stolen. The official emphasized that this incident has nothing to do with the asset security of platform users, please rest assured.
The response plan includes:
1. Stability Fund Buyback: The Stability Fund will be used to buy back stolen tokens from exchanges, which is expected to be completed within a week.
2. Token allocation: All repurchased tokens will be injected into the BOX DAO asset pool, and the specific use will be determined by community voting.
3. Account security upgrade: After DeBox App supports multi-signature login, the operating account will be migrated to the multi-signature wallet.
4. Tracking and Accountability: A professional security company has been commissioned to conduct the investigation and asset tracking, and progress will be updated regularly. Any recovered assets will be managed through BOX DAO voting.
The DeBox team said it will continue to track the stolen addresses and reserve the right to take legal action, while promising to continue building an open, transparent and sustainable ecosystem.
According to previous news, the DeBox project fell by more than 30% in the past 24 hours, the liquidity of the Uniswap V2 pool was only US$2,900, and the total on-chain liquidity was about US$10,000.
Clipper: The attack was caused by a vulnerability in the withdrawal function, not a private key leak as claimed by a "third party"
Decentralized exchange (DEX) Clipper has clarified that a bug in its withdrawal feature led to a recent $450,000 hack of its protocol, rather than a private key leak as claimed by a “third party.”
Clipper said: “An attacker exploited two liquidity pools on December 1, locking ~6% of the total value. There have been third-party claims of private key compromise. We can confirm that this is not the case and is inconsistent with Clipper’s design and security architecture. The ability to withdraw funds in one token form (bundled swap + deposit/withdrawal transactions) has been disabled.”
Earlier, the co-founder of security firm Fuzzland posted on X that Clipper was “hacked due to API vulnerabilities (such as private key leakage)”, adding that the API may have a vulnerability that allows attackers to sign deposit and withdrawal requests and steal more funds than they deposited.
Coinbase Withdraws Pre-Application to Enter Türkiye’s Crypto Market
Cryptocurrency exchange Coinbase has withdrawn its pre-application to enter the Turkish cryptocurrency market, and the reason for the withdrawal is unclear. Turkey's financial regulator updated the list of companies applying for liquidation, confirming that Coinbase withdrew its application. Bitfinex, Bitbns, Bitlo, OKX and Rain Software are still pursuing opportunities in Turkey by applying to provide custody services.
QCP: Microsoft shareholders vote on whether to include Bitcoin in the balance sheet, which may become a catalyst for Bitcoin to break through $100,000
QCP published its daily view that Bitcoin briefly hit $98,000 during the Thanksgiving holiday, a rise driven by Michael Saylor presenting his Bitcoin investment strategy to Microsoft. Microsoft shareholders plan to vote on whether to include Bitcoin on its balance sheet on December 10.
Microsoft's largest shareholders, such as Vanguard, BlackRock, and Fidelity, already have exposure to cryptocurrencies through investments in MSTR, Coinbase, and other crypto companies. One might argue that they already have enough exposure. However, if the proposal passes, it will not only be good for Bitcoin, but also for their other investments.
U.S. employment and labor data will again be in focus this week as we await MSCI’s decision next week. ISM manufacturing data and PMI data are scheduled for release on Monday and Wednesday, respectively. However, the focus this week is on non-farm payrolls on Friday. Markets will be watching this week’s reports closely to get a better grasp on inflation trends, especially ahead of the rate decision on December 17-18.
DWF Labs decides to relocate its headquarters to Abu Dhabi
“In order to establish a strong presence in the Middle East and provide more RWA and financial services, DWF Labs has decided to move its headquarters to Abu Dhabi. More news will be released soon,” said Andrei Grachev, co-founder of DWF Labs, on the X platform.
CryptoQuant CEO: Coinbase whales drove XRP's rise
Ki Young Ju, CEO of CryptoQuant, wrote on X that Coinbase whales drove the rise of XRP. In the past 30 days, Coinbase's minute-level price premium has ranged from 3% to 13% during this rise.
Meanwhile, South Korean exchange Upbit, which has more XRP investors than Binance, has not shown a significant premium so far.
"What are the interesting articles worth reading in the past 24 hours?"
XRP skyrocketed, and we took stock of 9 coin projects related to the ecosystem
The situation of speculating on new products instead of old ones is reversing. XRP, the old public chain Ripple coin, continues to soar, with an increase of more than 360% in the past month. Today, its market value has surpassed USDT and SOL to become the third largest cryptocurrency. In addition, XRP's market value has also surpassed Pinduoduo, China Life and Citi, rising to 138th in global asset rankings.
According to the RootData popularity trend, the popularity of tokens of projects related to the XRP ecosystem is rising rapidly. ChainCatcher has made a brief inventory of projects related to the XRP ecosystem.
XRP's market capitalization returns to third place in cryptocurrencies, will XRP ETF take the lead?
The latest data shows that the market value of XRP once exceeded US$136.2 billion, surpassing USDT and returning to the "third largest cryptocurrency by market value", returning to the level before the SEC/Ripple lawsuit in 2020.
Previously, Odaily Planet Daily had made a detailed analysis of the "US court ruling that Ripple did not violate federal securities laws" in August. For details, see (XRP once soared by more than 20%, another phased victory for Ripple in the SEC lawsuit). Nearly 4 months later, the price of XRP has exceeded 2.3 US dollars, an increase of nearly 4 times, and the market is optimistic about the future performance of XRP.
Odaily Planet Daily will summarize the latest developments and related information of Ripple and XRP in this article for readers' reference.
The “Great Migration” of Executives: How Can Crypto Companies Become an Ideal Habitat for Top Talent?
A company's recruitment can reveal the actual progress of its strategic execution and reflect the changing trajectory of industry demand, thereby predicting future market activity and development potential.
According to a report released by Tiger Research, after the U.S. Securities and Exchange Commission (SEC) approved a Bitcoin spot ETF in January 2024, job openings in the global Web3 market began to increase significantly. As market recovery expectations rise, recruitment activities have become relatively active.
In the first half of 2024, the number of Web3 job openings increased by approximately 20% year-on-year, reflecting a significant increase in overall industry expectations compared with last year. The increase in job openings comes primarily from crypto ETF managers and exchanges.
Exclusive interview with Xiao Z: CEX business experience of the “currency listing expert”
Since October, the listing of coins on CEX has become a new subject. Whether it is ACT, PNUT or MOODNEG, countless people have become rich because of the listing of these new coins. Every group of players who are waiting for these potential listed coins will hold their breath when CEX releases the announcement, hoping that they will be the lucky one.
However, in addition to ambushing in advance, there are also a group of players like Xiao Z who focus on studying CEX announcements and have formed a set of "announcement trading" strategies. With his understanding of CEX, Xiao Z not only successfully ambushed some potential targets (such as CAT MOODNEG), but also obtained considerable profits after the CEX announcement was released (such as PEPE, ACT, OL). So Blockbeats specifically talked to Xiao Z about the little-known announcement trading.
The largest airdrop of the year? Hyperliquid airdropped $28,500 per person, and the popularity of HYPE brought new gold rush
The long-awaited event finally came. On November 29, the decentralized derivatives exchange Hyperliquid announced the creation of its native token HYPE. After the token went online, the price of HYPE continued to rise, from the opening price of $2 on November 29 to the highest price of $9.8 on December 1, an increase of nearly 5 times in less than 3 days.
Compared with other large airdrop projects this year, HYPE's market performance is really amazing. In this airdrop, Hyperliquid distributed a total of 310 million tokens. Even if calculated at the opening price of $2, the airdrop scale reached $620 million. Among the airdrops this year, it is definitely one of the largest airdrop projects.
But strangely, in the early stage of Hyperliquid's airdrop, few Chinese KOLs discussed it on social media, and not many Chinese bloggers "showed off their orders" afterwards. It seems that those KOLs who focused on making money collectively missed this wave of real big money.
