Headlines
▌Over $275 million liquidated in the past 24 hours, mainly long positions
Coinglass data shows that in the past 24 hours, the total liquidation amount across the network reached $275 million, with long position liquidations amounting to approximately $187 million and short position liquidations amounting to approximately $88.77 million.
▌21Shares submits S-1 form to the SEC to apply for launching XRP ETF
According to the official U.S. SEC website, 21Shares has submitted S-1 form to the SEC to apply for launching the XRP ETF (21Shares Core XRP Trust). This ETF will track the price of XRP and plans to be listed on the Cboe BZX exchange. The ETF does not involve leverage or derivatives and aims to reflect XRP's dollar performance through the CME CF Ripple-Dollar reference rate (New York version). Coinbase Custody will serve as the XRP custodian for this ETF, responsible for holding all assets.
Market
As of the time of publication, according to Coingecko data:
BTC's recent transaction price is $69,534.31, with a daily change of -0.0%;
ETH's recent transaction price is $2,512.72, with a daily change of +0.3%;
BNB's recent transaction price is $573.42, with a daily change of +0.1%;
SOL's recent transaction price is $167.09, with a daily change of +0.2%;
DOGE's recent transaction price is $0.161, with a daily change of -0.1%;
XPR's recent transaction price is $0.5146, with a daily change of +1.4%.
Policy
▌DWF Labs considers legal action against former partner Eugene Ng
DWF Labs executive partner Andrei Grachev stated that DWF Labs will consider legal action against the dismissed founding partner Eugene Ng. Previously, Eugene Ng was accused of drugging and sexually harassing a woman.
▌Tornado Cash co-founder Roman Storm's criminal trial postponed until April 2025
A New York judge ruled that the criminal trial of Tornado Cash co-founder Roman Storm will be postponed until April 2025 to resolve discrepancies regarding expert witness disclosures. The original trial date was set for December this year. Storm's legal team has applied for a mandate from the U.S. Second Circuit Court of Appeals to overturn the order concerning expert witnesses, with a hearing scheduled for November 12. Storm faces three charges of aiding money laundering, unlicensed remittance, and violating sanctions, and if convicted, could face up to 45 years in prison.
▌U.S. government negotiates with PAC to recover $13.25 million in political donations from former FTX executives
The U.S. government is negotiating with several political action committees (PACs) to return political donations of up to $13.25 million made by former FTX executives. This request has been approved by the judge responsible for the FTX case, Lewis Kaplan, and the government will continue discussions with the PAC regarding the forfeiture of these funds by January 15. Data shows that the donations were made by FTX founder Sam Bankman-Fried or former engineering chief Nishad Singh, who testified that part of the donations was made at Bankman-Fried's request and had signed blank checks.
▌Paxos CEO: Establishing welcoming crypto policies to keep the U.S. at the forefront
Paxos CEO Charles Cascarilla sent an open letter to Vice President Kamala Harris and former President Donald Trump on Tuesday, urging immediate regulatory reform to support the U.S. blockchain and digital assets. Cascarilla warned that the U.S. financial system is 'closed, outdated, and inefficient', and risks falling behind global competitors.
▌Coinbase's Chief Legal Officer: Over 20 FDIC requests for banks to 'pause', 'stop providing', or 'not continue' crypto banking services
Coinbase's Chief Legal Officer stated on platform X that so far, we have identified over 20 instances where the FDIC (Federal Deposit Insurance Corporation) has asked banks to 'pause', 'stop providing', or 'not continue' crypto banking services. The public deserves transparency, not an agency operating behind bureaucratic walls.
Blockchain applications
▌DePIN XYO expands to the Solana blockchain
The decentralized physical infrastructure network (DePIN) XYO announced that it has bridged from Ethereum to Solana, citing Solana's 'high throughput, low transaction costs, and scalability'. XYO is a DePIN designed to verify location and other real-world data for Web2 and Web3 projects.
▌Web3 game development company Midnight will launch its first MMO game on Aptos
Web3 game development company Midnight will launch the world's first MMO game (The Evergreen: Midnight Market) on Aptos. The game is currently in closed testing and will open to global players on November 13.
Cryptocurrency
▌Kalshi launches more political event prediction markets ahead of the U.S. elections
According to regulatory filings submitted to the Commodity Futures Trading Commission (CFTC), Kalshi has launched more political event prediction markets ahead of the U.S. elections, including the results of the Ohio statewide referendum, the Associated Press (AP) announcing the results of the last state in the presidential election, and more. According to CFTC data, since October 31, Kalshi has registered over twenty contracts, most of which are related to the upcoming U.S. elections. As of November 1, Kalshi's 'Who will win the presidential election?' has seen total bets of approximately $144 million since its launch on October 7. The platform data shows that as of November 1, the probability of Trump winning the presidential election is 56%, while Harris's probability is 44%.
▌Opinion: Bitcoin is no longer just 'digital gold', but a component of global financial infrastructure
As Bitcoin marks the 16th anniversary of its white paper, Trust Machines' Rena Shah pointed out that Bitcoin is no longer just 'digital gold', but a core component of global financial infrastructure. The Bitcoin ecosystem is approaching a critical turning point in 2024, including Layer 2 scaling, the popularization of Ordinals, and accelerated institutional entry. Bitcoin ETFs driven by financial giants like BlackRock have attracted over $1.5 billion in inflows, marking Bitcoin's broad recognition by the traditional financial system.
▌Web3 companies raised $5.4 billion in the first three quarters of 2024
According to Web3 tracking data from Crunchbase, Web3 startups raised over $5.4 billion in venture capital in the first three quarters of 2024. Investors are increasingly targeting emerging markets at the intersection of blockchain and artificial intelligence, while projects focused on decentralized blockchain infrastructure have also attracted significant funding. In just the last quarter, capital flowing into blockchain companies reached $1.4 billion. Additionally, highlights from October's funding include Glow raising $30 million for developing decentralized solar grids and Nillion Network raising $25 million to advance its decentralized privacy platform.
▌pump.fun transferred 90,000 SOL to Kraken 4 hours ago
Arkham data shows that pump.fun transferred 90,000 SOL to Kraken 4 hours ago, valued at approximately $14.97 million.
Important economic dynamics
▌The Federal Reserve's reverse repurchase usage has fallen to around $155 billion for the first time since 2021.
On Friday, the Federal Reserve's overnight reverse repurchase agreement (RRP) usage reached $155.476 billion, the lowest since 2021, down from $201.278 billion on the previous trading day. Only 41 counterparties participated, significantly lower than the usual levels.
▌All three major U.S. stock indexes closed higher, with the NASDAQ up 0.80%
All three major U.S. stock indexes closed higher, with the Dow up 0.69%, the NASDAQ up 0.80%, and the S&P 500 up 0.41%. Intel rose nearly 8%, exceeding expected earnings, with revenue guidance above analysts' expectations.
▌U.S. October non-farm payroll data disappointed, traders increased bets on a 25 basis point rate cut by the Federal Reserve
U.S. October non-farm payroll data disappointed (12,000 jobs), traders increased bets on a 25 basis point rate cut by the Federal Reserve next week. (Golden Ten)
Golden Encyclopedia
▌What is the Aptos blockchain?
Aptos aims to be a fast, scalable, and reliable blockchain that supports decentralized applications (DApps), intending to accelerate the development of Web3. Avery Ching and Mo Shaikh launched the Aptos blockchain on October 12, 2022. It is designed to achieve high throughput and low latency, meaning it can process about 160,000 transactions per second and verify them in under 1 second on average. Aptos technology natively integrates the Move language to provide these fast, secure transactions, allowing developers to write smart contracts and build DApps. Aptos provides everything needed to 'build your big ideas' and even incorporates artificial intelligence, making it easy for both newcomers and experts to use Web3.
Disclaimer: As a blockchain information platform, Jinse Finance's published articles are for informational reference only and do not constitute actual investment advice. Please establish a correct investment concept and enhance risk awareness.
