Headlines
U.S. listed company SOS's board approves a $50 million Bitcoin purchase plan
According to official news, SOS Ltd., listed on the New York Stock Exchange, announced that its board has approved a plan to invest $50 million in purchasing Bitcoin (BTC) to strengthen its blockchain industry layout.
SOS stated that the plan reflects long-term confidence in Bitcoin as a strategic reserve asset, and also hopes to optimize its portfolio and enhance its competitiveness in the digital asset field. SOS will adopt a diversified quantitative trading strategy, including investment, trading, and arbitrage, to reduce market volatility risks and achieve stable returns.
WalletConnect has launched an airdrop query page, where users can claim and stake WCT
WalletConnect officially announced that the airdrop query page is now live, eligible users can claim and stake their WCT.
Backpack Chinese X: About to 'do something' with Solana
Backpack Chinese official X account announces, 'We are about to do something with Solana, don't forget to check the backpack then.' Previously, the Solana X account stated that the 'on-chain holiday' will begin from December 5-12.
Pump Science: The rest of this year will focus on URO and RIF, and new tokens will be launched next year after the audit is completed
Pump Science posted on X regarding recent security incidents, stating: 'Security is paramount, and the team plans to include consulting and competitive audits of the Pump Science application and smart contracts. The rest of this year will focus on URO and RIF, starting mouse trials before launching new tokens.'
Additionally, no new tokens will be launched on pump.fun. New tokens will be launched on Pump Science next year after the full audit is completed.
Industry news
Yu Xin: DEXX attackers continued this morning to exchange another batch of tokens from Solana addresses into SOL, and the EVM address has shown no movement
Slow Mist's Yu Xin posted on X stating: 'Early this morning, DEXX attackers continued to exchange various valuable tokens from another batch of Solana addresses into SOL, and have not yet continued to transfer out. In addition, the attackers' EVM address has not yet shown any movement.'
Consensys lawyer: even if the court rules that the Treasury's sanctions against Tornado Cash are illegal, founder Roman will not be released because of this
Consensys lawyer Bill Hughes posted on X platform stating that even if the court rules that the Treasury's sanctions against Tornado Cash are illegal, founder Roman is still running a service that violates sanctions, illegally transfers funds, and assists in money laundering, and that ruling does not change these charges.
According to previous news, Coinbase's chief legal officer Paul Grewal posted on X stating: 'Privacy rights win. Today, the U.S. Fifth Circuit Court ruled that the U.S. Treasury's sanctions against the Tornado Cash smart contract are illegal.'
Project news
Binance contracts launch MORPHOUSDT and CHILLGUYUSDT 1-75 times USDT perpetual contracts
According to the official announcement, Binance contracts will launch MORPHOUSDT and CHILLGUYUSDT 1-75 times USDT perpetual contracts, specific time:
November 27, 2024, 22:30 (GMT+8): MORPHOUSDT perpetual contracts;
November 27, 2024, 22:45 (GMT+8): CHILLGUYUSDT perpetual contracts.
Base ecosystem AI Agent Clanker will temporarily shut down, with an updated version to be released later
Base ecosystem's one-click minting AI Agent Clanker officially posted on X stating: 'Clanker will temporarily shut down tonight, some interesting things are being prepared, I love you all.'
According to previous news, since its launch, the Base ecosystem AI Agent Clanker's protocol income fees have exceeded $7 million.
Vitalik's tagged address exchanged tokens such as LEDOG for over 20 ETH and donated 320 ETH to Coin Center
According to monitoring from Shield, Vitalik's tagged address has exchanged 33 billion LEDOG ($DOG) for about 11 ETH, exchanged about 30 trillion DOGC for about 10.8 ETH, exchanged 300 million VITALIK for about 1.1 ETH, and also donated 320 ETH to Coin Center.
Investment and financing
Blockchain payment company Partior completes $80 million Series B financing, with Deutsche Bank participating
Blockchain payment company Partior completes $80 million Series B financing, with Deutsche Bank joining as a new investor. Previously, in July 2024, Partior announced that it completed $60 million in financing, with investors including Peak XV Partners, JPMorgan, Jump Trading Group, Standard Chartered, Temasek, and Valor Capital Group.
Partior was established in 2021, supported by financial institutions such as DBS Bank and JPMorgan. The company provides real-time clearing and settlement services through a blockchain platform, aiming to solve the sequential processing problems in traditional payment systems. Deutsche Bank's global cash management head Patricia Sullivan stated that the bank, as the largest euro clearing bank, plans to join the Partior platform as a euro and dollar settlement bank.
This financing will be used to strengthen Partior's global expansion and develop new features such as intraday and cross-currency swaps. Notably, Deutsche Bank has been increasingly investing in the cryptocurrency field in recent years, having applied for a digital asset custody license from German financial regulators in June 2023.
Cryptocurrency yield protocol developer Avant completed a $6.5 million seed round financing, with participation from Avalaunch and others
Cryptocurrency yield protocol developer Avant completed a $6.5 million seed round financing, with a post-investment valuation of $25 million, with participation from Superlayer, Avalaunch, GoGoPool, Daybreak Digital, and Linda Kreitzman. Founder Rhett Shipp stated that Avant was established in June of this year, began informal discussions with investors in May, officially started fundraising in October, and completed it at the beginning of this month.
According to reports, Avant issued a 'stable value' token called avUSD, which can earn savUSD (the yield version of avUSD) through staking. The Avant Protocol is still in its early stages, operating in 'early access' mode, allowing only a selected whitelist of addresses to mint and stake avUSD. Shipp stated, 'This whitelist will expand in the coming weeks.' He also added that avUSD and savUSD are planned for a full public release in December.
Animoca Brands strategically invests in Pudgy Penguins' parent company Igloo, Inc.
According to official news, Animoca Brands strategically invests in Pudgy Penguins' parent company Igloo, Inc., with specific amounts not disclosed. It is reported that Animoca Brands' subsidiaries The Sandbox and Animoca Brands Japan are also participating in the investment in Igloo, Inc. along with Animoca Brands.
Regulatory trends
Tether will stop supporting EURt due to European regulatory challenges and focus on Hadron
Stablecoin issuer Tether announced on November 27 that it plans to terminate support for its euro stablecoin EURt. Tether CEO Paolo Ardoino attributed this move to the evolving regulatory environment for stablecoins in Europe.
The company stated that it has stopped minting new EURt tokens, with the last issuance request handled in 2022. Current holders of the asset can redeem their tokens by November 27, 2025. Data shows that EURt has struggled to gain attention in Europe, with a market cap of only $38 million, lagging behind Circle's EURC ($90.5 million) and Stasis's Euro ($130 million). In stark contrast, Tether's flagship stablecoin USDT has a market cap of $132 billion, more than three times that of its closest competitor USDC.
While Tether may not comply with MiCA regulations, Ardoino pointed out that the company's new initiative Hadron will become a priority in the European region. According to him, Hadron has the potential to transform the accessibility of asset tokenization for institutions, governments, fund managers, and private companies.
Former CFTC chairman expected to become the first 'crypto czar', stating that Crypto is a 'significant priority' for the Trump administration
Former CFTC chairman Chris Giancarlo is a strong contender to become America's first 'crypto czar', a new position that President Trump is considering establishing, potentially responsible for regulating the $30 trillion blockchain industry. Giancarlo is known as 'Crypto Dad' for advancing clear regulatory work during his two-year term (including paving the way for Bitcoin futures trading on U.S. exchanges). He stated in an interview on Wednesday that he has turned down positions at the CFTC and the U.S. SEC. 'Trump has laid out a very specific set of initiatives to make the U.S. the world's crypto capital,' Giancarlo said, referring to Trump's speech at the Bitcoin 2024 conference held in Nashville in July.
He stated that this includes 'establishing a Bitcoin strategic reserve, forming a cryptocurrency committee, and ensuring people have the ability to self-custody wallets.' In other areas, he talked about capital gains tax exemption on domestic cryptocurrency earnings, ending cryptocurrency de-banking (also known as 'Choke Point 2.0'), and new rules and regulations through the CFTC and SEC as well as stablecoin legislation.
Giancarlo, a key member of Trump's transition team, added that cryptocurrency will be a 'significant priority' for the new government. Although Trump had been a skeptic of cryptocurrency, he has maintained good relations with industry insiders during his re-election campaign over the past year and has made many commitments to improve the outlook for the U.S. cryptocurrency industry. 'In terms of candidates, they tend to be less specific. I think Trump is very specific about what he is going to do,' he said, pointing out that supporters of cryptocurrency surround Trump, such as government efficiency chief Elon Musk and Vivek Ramaswamy.
Voices in the industry
CryptoQuant analyst: Ethereum's 'second bull market' has begun
CryptoQuant analyst crypto sunmoon stated that Ethereum's 'second bull market' has begun. The analyst noted that in past cryptocurrency market bull runs, Ethereum has always experienced two rounds of increases, with the second bull market cycle always significantly exceeding the price set by the first bull market cycle.
Economists: The Federal Reserve may skip a rate cut in December or January
LPL Financial's chief economist Jeffrey Roach expects the Federal Reserve to skip a rate cut in December or January, followed by up to four rate cuts in 2025. Analysts at Bank of America expect a rate cut in December, but they added, 'Given the resilience of economic activity and stubborn inflation, the extent of the rate cut seems to lean towards being more moderate.'
According to data from the CME FedWatch tool, the market expects about a 45% chance that the Federal Reserve will keep interest rates unchanged at the upcoming December meeting. A month ago, this probability was 24%.
