Today's News Highlights:
1.MicroStrategy's Bitcoin holdings have appreciated over $10 billion.
2.Tether issued 4 billion USDT on Ethereum in the past 3 days, most of which flowed into exchanges.
3.Trump proposed to pay Kamala Harris $20 million in campaign debt.
4.Ethereum's market value surpasses Johnson & Johnson, ranking 33rd globally.
5.Cardano Founder: Will work with lawmakers and the government to promote the passage of a bipartisan bill.
6.CoinGecko: CryptoPunks and BAYC are the only two NFT series that have consistently ranked in the top 10 for average monthly market value from 2022 to the present.
7.This week's NFT trading volume increased by 14.99% to $95.72 million, but the number of buyers decreased by over 90%.
8.NEAR AI launched an Alpha version, which includes an AI assistant and research center.
Regulatory News
A pyramid scheme organization using 'blockchain' and 'virtual currency' as a gimmick has been prosecuted and sentenced, with the amount involved exceeding 210 million yuan.
According to the WeChat account of the Yunnan Provincial People's Procuratorate, recently, the Shidian County Procuratorate filed a public prosecution against Li and 10 others for organizing and leading pyramid selling activities. After court hearings, the 10 defendants, including Li, were sentenced to imprisonment ranging 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 has gathered Huang, Jin, and others to use 'blockchain' and 'virtual currency' as a gimmick to gain illegal profits by claiming to purchase and hold virtual digital currency A, and issuing virtual digital currencies B and C. They set up five funding pools on an online platform and combined offline and online methods through live meetings, WeChat groups, etc. They created a successful persona, leveraged special professional backgrounds, and promoted slogans like 'one coin, one mansion; one coin, one luxury car; earn hundreds of thousands to millions easily in a day' to widely advertise reward systems and profit prospects, luring the public into purchasing, destroying, and adding to funding pools to gain entry qualifications and complete assigned tasks, obtaining direct or indirect static dividends and dynamic income based on the number of people developed and investment amounts, forming five rebate levels. According to appraisals, the pyramid selling funds collected by Li and others through online platforms totaled over 210 million yuan.
The Shidian County Procuratorate reviewed and found that Li, using virtual currency as a gimmick, colluded with nine other defendants to defraud property through online platforms, disrupting the economic and social order. The total amount involved in the pyramid selling scheme exceeded 210 million yuan, and the circumstances were serious. The actions of Li and the other nine constituted the crime of organizing and leading pyramid selling activities under Article 224-1 of the Criminal Law of the People's Republic of China. After court hearings, the aforementioned judgment was made.
Trump proposed to pay Kamala Harris $20 million in campaign debt.
According to Watcher.Guru, elected president Donald Trump proposed to pay Kamala Harris $20 million in campaign debt.
The FTX bankruptcy group sued Anthony Scaramucci and SkyBridge Capital to recover over $100 million.
According to Cointelegraph, the FTX bankruptcy group is seeking to recover over $100 million from SkyBridge Capital and founder Anthony Scaramucci to reclaim funds spent in sponsorship and investment agreements reached with Scaramucci and SkyBridge since 2022 by former FTX CEO Sam Bankman-Fried (SBF).
According to legal documents from November 8, prior to FTX's collapse, Bankman-Fried engaged in a series of investments and partnerships with SkyBridge Capital and Scaramucci—first providing a $12 million sponsorship for Scaramucci's SALT conference in January 2022. Shortly thereafter, in March 2022, SBF instructed Alameda Research to invest $10 million in the SkyBridge Coin Fund. Later, in September 2022, FTX acquired a 30% stake in the operating company managing SkyBridge investment tools for $45 million. FTX's lawyers believe this investment lacked financial awareness, suggesting that 'the FTX group could have easily purchased' a basket of cryptocurrencies for a much lower cost than the majority of the $45 million investment.
FTX filed a lawsuit to recover $27 million from Alameda's accounts on Huobi and Poloniex.
FTX creditor Sunil stated on platform X that FTX filed a lawsuit to recover $27 million from Alameda's accounts on Huobi and Poloniex.
Project Updates
BTC breaks $79,000, daily increase of 3.98%.
OKX market shows that BTC just broke $79,000, currently reported at $79,356.10 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 for average monthly market value from 2022 to the present.
According to the NFT report released by CoinGecko, CryptoPunks currently dominates the NFT market with a 30.9% share among top series. Since surpassing Bored Ape Yacht Club (BAYC) in May 2023, its leading position has been solidified. Previously, in early 2022, CryptoPunks had a dominance of 24.8%, trailing behind BAYC's 29.3% at that time. Although CryptoPunks briefly surpassed BAYC in November 2022, it fell back to second place. However, due to its more resilient floor price, this pixel art NFT successfully maintained a narrow market share gap and reclaimed the top position in May 2023.
Notably, CryptoPunks is the only NFT collection that has seen a 10.0 percentage point increase in dominance within a year, with its market share rising from 23.6% to 33.6% in 2023. Although CryptoPunks' dominance has slightly declined 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.
Moreover, CryptoPunks and BAYC are the only two NFT series that have consistently ranked in the top 10 for average monthly market value from 2022 to the present. In 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 promote the passage of a bipartisan bill.
According to CoinGape, Cardano founder Charles Hoskinson recently stated that he will work with lawmakers and the government to promote the passage of a bipartisan bill. His company, Input Output Global (IOG), will establish a separate policy department for cryptocurrency regulation. This office will focus on creating a legislative framework that incorporates the provisions of the 21st Century Financial Innovation and Technology Act (FIT21) and the Responsible Financial Innovation Act (RFIA).
NEAR AI launched an Alpha version, which includes an AI assistant and research center.
NEAR AI announced on platform X that the Alpha version has been launched, which includes the NEAR AI Assistant (Alpha) with user-specific memory that can take actions on behalf of users in both Web2 and Web3 by connecting to other AI agents and services. This assistant knows how to present responses and generates custom front-ends when needed. Additionally, it includes the NEAR AI Research Center, supporting community-built AI research and the creation of foundational models.
Solana Co-founder: Solana's advantage lies in its execution capability, with its core potential in improving its infrastructure.
In a recent interview, Solana founder Anatoly Yakovenko discussed the ecosystem's unique position in the blockchain field. 'In my opinion, scalability, infrastructure focus, and transaction efficiency are the three main advantages of Solana.' Of course, he also recognizes 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 ordering. However, Yakovenko pointed out that these may lead to the same congestion issues as L1 chains. While L2 is often seen as a short-term solution to congestion problems, they face scaling bottlenecks when multiple applications or markets use them.
Yakovenko emphasized that Solana's strength lies in its execution capability. While Ethereum is scaling through L2, Solana's development is still focused on perfecting its L1. He acknowledges that one day, blockchains will offer similar functionalities to Solana and provide 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 refining its infrastructure to support fairer and more open transaction processing, achieving a truly decentralized future. He believes this will position Solana as 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 crypto technology. Santos believes some businesses can address coordination issues through the adoption of crypto tools, which manifest as higher operational costs, capital expenditures, or declining unit economics. It does not matter whether business owners are reluctant to accept cryptocurrencies, as Inversion Capital will not be an investment partner—it will directly acquire these businesses.
Important Data
This week's NFT trading volume increased by 14.99% to $95.72 million, but the number of buyers decreased by over 90%.
According to News.bitcoin, this week's NFT sales reached $95.72 million, an increase of 14.99% from the previous week, after several weeks of declining trading volume. However, the number of buyers has plummeted by 90.21%, while the number of NFT sellers fell by 88.80%. Ethereum had the highest sales this week among blockchains, reaching $31.14 million, a growth of 13.25%. Following closely was Bitcoin-centric NFT sales at $26.01 million, with Solana ranking third with sales of $12.97 million from November 2 to November 9.
Pendle team address transferred 1.4 million PENDLE to Binance, valued at approximately $7.74 million.
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) to Binance. Coupled with another team address that transferred 625,000 PENDLE the day before yesterday afternoon, a total of 2.025 million PENDLE ($11.11 million) has flowed into Binance in just over a day.
Tether issued 4 billion USDT on Ethereum in the past 3 days, most of which flowed into exchanges.
According to Spot On Chain monitoring, Tether issued 4 billion USDT on Ethereum in the past 3 days. Notably, approximately 3.44 billion USDT has been transferred to various exchanges, including 1.75 billion USDT flowing into Binance and 770.8 million USDT into Coinbase.
A whale that previously invested $5.2 million in MOODENG and incurred losses is now profiting over $3 million.
According to Onchain Lens monitoring, a whale that invested $5.2 million suffered huge losses when MOODENG's market cap fell below $100 million. As MOODENG reached a new high, the whale still holds MOODENG and has made over $3 million in profit.
Ethereum's market value surpasses Johnson & Johnson, ranking 33rd globally.
According to Infinite Market Cap data, Ethereum surpasses Johnson & Johnson in global asset market value, ranking 33rd.
MicroStrategy's Bitcoin holdings have appreciated over $10 billion.
At Bitcoin's current price of $79,000, MicroStrategy's Bitcoin holdings have appreciated over $10 billion. Previously, as of today, MicroStrategy held a total of 252,220 Bitcoins, with a total purchase cost of about $9.9 billion, at an average price of about $39,266.
