Headlines
pump.fun had a 24H revenue exceeding Solana, Circle, and Ethereum.
DefiLlama data shows that pump.fun had a 24H revenue of $5.31 million, ranking second only to Tether, exceeding Solana, Circle, and Ethereum.
Pumpfun has disabled the live broadcast feature.
According to market news, Pumpfun has disabled the live broadcast feature.
Vitalik: Crypto is a secure foundation; Crypto + DeAI may save the world.
In an interview with Tencent (Qianwen), Ethereum co-founder Vitalik shared his perspective on the intersection of the crypto and AI industries, stating: 'The role of crypto is to create a game, and your game may have many goals. Trading can be said to be a game. Another example is the prediction market, where this year Polymarket (a prediction market project) has been quite successful. Crypto can create a game where the rules can be executed safely with smart contracts, and AI can participate in this game. If only humans participate, sometimes the efficiency is not high enough. For example, in the prediction market, I have been playing a lot on Polymarket this year. I found that four years ago, their result quality was not high, but this year it is much higher than four years ago. Why? One reason is that there is more liquidity. Last year, it might have been $1 million or $10 million, but this year it might be $100 million or $200 million. However, I also found that this year, for matters with small liquidity, the answers are also relatively good. So, it is very likely that AI is participating. The reaction speed of AI is very fast. A person doing this needs to be on the computer 24 hours a day, watching all the news every minute and second. But an LLM, you let it run, it can do it by itself. I believe there will be more examples in the future, possibly in the social field or other fields. Crypto is a secure foundation, and through crypto, a game can be created to ensure that the rules of the game are fair. The role of AI is to participate.' He also mentioned: 'If you want to see how crypto can save the world? It cannot just be crypto; it has to be crypto + some other things. So what is crypto +? The first possibility is crypto + decentralized AI; the second possibility is crypto + a technology that can replace AI.'
In the end, he believes: 'If issuing a coin and creating an exchange is all we do, then this industry is a failure. Before this year, transaction fees were too high, some critical technologies were not mature, account security issues had not been resolved, and privacy issues were not addressed, so many problems remained unsolved. Therefore, before this year, our industry did not have enough technology to create applications that ordinary people could participate in. The only successful application is DeFi, and one reason is that DeFi can earn more money. This year, we finally began to address these issues. This year is the best time to create meaningful applications.'
Sun Yuchen invested $30 million in Trump's family crypto project WLFI, becoming its largest investor.
Sun Yuchen announced a $30 million investment in Trump's family crypto project World Liberty Financial (WLFI), becoming its largest investor. He also stated that the U.S. is becoming the center of blockchain, thanks to Trump's support for Bitcoin.
Yesterday Bitwise BITB had a net outflow of $280.7 million, setting a record for its highest single-day outflow.
According to Farside Investors data, Bitwise BITB had a net outflow of $280.7 million yesterday, setting a record for its highest single-day outflow.
Publicly listed company Rumble plans to use its cash reserves to buy $20 million in Bitcoin.
Nasdaq-listed video sharing and cloud service platform Rumble announced that as part of its new company financial diversification strategy, it plans to invest up to $20 million of its excess cash reserves into Bitcoin. The board approved this allocation, aimed at positioning Bitcoin as a strategic asset and inflation hedge in its finances.
The company plans to integrate cryptocurrencies into its ecosystem, supporting Rumble's mission to build independent infrastructure and promote an open internet.
The decision to purchase Bitcoin will be made by management, considering market conditions, Bitcoin's trading price, and the company's cash flow needs. (CryptoBriefing)
Industry news
ETF provider WisdomTree has registered an XRP ETF in the state of Delaware, USA.
According to Fox Business reporter Eleanor Terrett's post on platform X, global ETF provider WisdomTree has registered an XRP ETF in Delaware, USA, and the company has confirmed that it is a legitimate filing, reportedly managing assets over $100 billion.
VanEck: Extending zero-fee service for Bitcoin ETF for one year.
VanEck announced on platform X that it will extend its zero-fee service for its Bitcoin exchange-traded fund VanEck Bitcoin ETF (HODL) by one year, expected to last until January 2026. This will eliminate the cost barrier for experienced HODL investors, although VanEck reminds investors that they may incur brokerage fees or commissions.
On Polymarket, the probability of Trump establishing a national BTC reserve has dropped to 29%, with a betting amount of $844,000.
Prediction market Polymarket data shows the probability of Trump establishing a national BTC reserve is 29%, down 3% from November 15; down 31% from the peak of 60% on November 7. According to the website, this betting event will end on April 29, 2025, and the current betting amount is $844,000.
DEXX founder: Working with multiple security experts to reconstruct and upgrade asset security plans.
DEXX founder Roy posted on platform X stating that DEXX has not laid off any team members to date and maintains extremely high operational costs every day, expressing a commitment to take responsibility and ensuring consistency between words and actions, and hopes to continue letting DEXX rise from the ashes.
1. We are working closely with law enforcement and several security companies to investigate and track down the hacker, determined to recover the stolen funds.
2. Until now, the platform is still generating trades and profits. In the past week, it has generated nearly $2 million in trading volume, with nearly $20,000 in profits.
3. The team is currently working with multiple security experts to reconstruct and upgrade asset security plans, ensuring user asset security in the future.
4. The team is currently formulating a compensation plan, and will seriously verify every address and each outgoing fund for affected users.
It is claimed that DEXX has obtained a lot of effective information through judicial means, and if the hacker contacts them proactively within 48 hours and is willing to communicate with a solving attitude, otherwise it will be pursued to the end. Roy added that the compensation plan will soon be announced and implemented through official channels.
Project news
Avalanche launched the Avalanche9000 upgrade on the testnet, and introduced a $40 million retroactive reward program.
The team behind Avalanche launched a major upgrade on the testnet on Monday, named 'Avalanche9000', which includes multiple technical improvements aimed at reducing blockchain deployment costs by 99.9%. These improvements include community proposal ACP-77 (making Avalanche L1 validators more flexible) and ACP-125 (aimed at reducing Avalanche's base fees by 96%).
At the same time, a $40 million retroactive grant program Retro9000 was launched to reward builders developing L1 blockchains and other tools on the Avalanche9000 testnet.
Andrew Kang: Grass may achieve 'nine-figure' revenue next year.
Mechanism Capital partner Andrew Kang posted on platform X stating that the latest developments in artificial intelligence have made data one of the most valuable commodities in the world, and Grass uses crypto incentives to create data pipelines that most AI companies cannot leverage. At the current growth rate, they seem poised to achieve nine-figure revenue next year, possibly even breaking into the billions. Andrew Kang added that he has studied many projects combining crypto and AI, but unfortunately, most are not investable, while Grass is one of the top legitimate foundational projects emerging in this cycle.
Binance will launch 1000WHYUSDT and 1000CHEEMSUSDT perpetual contracts.
According to the official announcement, Binance will launch 1000WHYUSDT perpetual contracts at 11:30 AM (UTC) on November 25, 2024, and will launch 1000CHEEMSUSDT perpetual contracts at 11:45 AM (UTC), supporting up to 75x leverage.
NDV co-founder: The Cheems consensus is not strong enough to reach the 2-3 billion dollar range.
NDV co-founder Christian2022.eth posted on platform X stating that he was shocked to see the news of Cheems listing, inquiring with the Cheems Twitter operations team, who also had no knowledge of this listing news. Analyzing the reason for the crash, it was found that starting from the surge on the 19th, 'mouse warehouse' addresses continuously raised prices, compounded by robots on BSC, creating millions of dollars in sell pressure in the short term until the bottom was caught. Without malicious speculation about whether these large orders behind the purchase have insider information or are merely speculative purchases based on predictions, in conclusion, the Cheems consensus is not strong enough to reach the 2-3 billion dollar range, and was propped up by unrealistic listing expectations (spot), making the crash inevitable once expectations fell short.
Market news: Robinhood US has launched WIF.
According to market news, Aggr News disclosed that Robinhood US has launched WIF.
Bithumb will launch BICO and PUFFER Korean won trading pairs.
According to the official announcement, Bithumb will launch BICO and PUFFER Korean won trading pairs today, expected to open trading at 3 PM local time.
Investment and financing
OpenTrade completed a $4 million seed round expansion financing, led by AlbionVC.
Web3 institutional lending and yield product platform OpenTrade announced the completion of a $4 million seed round expansion financing, led by AlbionVC, with participation from a16z Crypto and CMCC Global. It is reported that OpenTrade aims to use this round of funding to expand operational scale, enhance product functionality, and develop other services, including yield products supporting new asset types.
Metalayer plans to establish a $25 million crypto venture capital fund.
A company named Metalayer has filed documents with the U.S. Securities and Exchange Commission (SEC) to establish a $25 million investment fund. According to insiders, Metalayer's co-founders are three veterans from Two Sigma Ventures, and it is reported that Metalayer completed its initial fundraising last Friday, with committed capital reaching $20 million and plans to complete full fundraising by the end of the year.
According to sources, Metalayer's initial funding comes from some executives at Two Sigma Ventures, but there is no formal relationship between the two companies. Two Sigma is known for its hedge fund, managing about $60 billion in assets. Metalayer has also raised funds from other supporters, including family offices and other executives in crypto protocols. (Fortune)
Voices of people
Trader Eugene: I have taken profits on long positions, BTC not breaking $100,000 is not very optimistic.
Trader Eugene posted on platform X stating: 'I have taken profits on long positions. I recommend being cautious. Saylor's bid is $5.5 billion, and Bitcoin has failed to break $100,000, which is not very optimistic.'
Adam Back: The world super bitcoinization is coming
Crypto punk legend and co-founder of Bitcoin infrastructure development company Blockstream, Adam Back stated that MicroStrategy continues to increase its BTC holdings, and the world is rapidly repricing Bitcoin, with super bitcoinization imminent (hyperbitcoinization is nigh). Some are skeptical of MicroStrategy's approach. However, when certain important things are mispriced, arbitrage opportunities arise. MicroStrategy's strategy accelerates the arbitrage on mispricing; hence, it can scale, and it is not a problem but an arbitrage on the fact that the entire fiat currency world is mispriced.
