Headlines
The board of the U.S. listed company SOS approved a plan to purchase Bitcoin worth 50 million USD.
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 USD to purchase Bitcoin (BTC), aiming to strengthen its blockchain industry layout.
SOS stated that this plan not only reflects long-term confidence in Bitcoin as a strategic reserve asset but also aims to optimize the investment portfolio and enhance the company's competitiveness in the digital asset space. 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 inquiry page, allowing users to claim and stake WCT.
WalletConnect officially announced that the airdrop inquiry page is now live, and eligible users can claim and stake their WCT.
Backpack Chinese X: About to "do something" with Solana.
Backpack's official Chinese X account announced, "We are going to do something with Solana, don't forget to check the backpack at that time." Previously, the Solana X account announced that the "on-chain holiday" will begin from December 5 to 12.
Pump Science: The remainder of this year will focus on URO and RIF, with new tokens set to launch next year after audits are completed.
Pump Science stated on X regarding a recent security incident: "Safety is the top priority, and the team plans to include consulting and competitive audits of the Pump Science application and smart contracts. The remainder of this year will focus on URO and RIF, launching mouse experiments before the new token release."
Additionally, no new tokens will be launched on pump.fun. New tokens will be launched on Pump Science next year after a comprehensive audit is completed.
Industry News
Yu Sin: The DEXX attacker continued to exchange another batch of tokens on Solana addresses for SOL this morning, and the EVM address has not changed.
Slow Mist's Yu Sin posted on X: "This morning, the DEXX attacker continued to exchange various valuable tokens on another batch of Solana addresses for SOL, and has not continued to transfer out. Additionally, the attacker's EVM address has not changed for now."
Consensys lawyer: Even if the court rules that the Treasury's sanctions against Tornado Cash are illegal, founder Roman will not be released.
Consensys lawyer Bill Hughes posted on X, stating that even if the court rules that the Treasury's sanctions against Tornado Cash are illegal, founder Roman still operated a service that violated sanctions, illegally transferred funds, and assisted in money laundering. This ruling does not change those charges.
According to previous news, Coinbase Chief Legal Officer Paul Grewal posted on X, stating: 'Privacy rights have won. Today, the Fifth Circuit Court of Appeals ruled that the U.S. Treasury's sanctions against the Tornado Cash smart contract are illegal.'
Project News
Binance contracts will 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 (UTC+8): MORPHOUSDT perpetual contract;
November 27, 2024, 22:45 (UTC+8): CHILLGUYUSDT perpetual contract.
The Base ecosystem AI Agent Clanker will temporarily shut down and will release an updated version later.
The official of the Base ecosystem one-click token issuance AI Agent application Clanker posted on X, stating: 'Clanker will temporarily shut down tonight, and some interesting things are being prepared. I love you all.'
According to previous news, the protocol revenue fees of the Base ecosystem AI Agent Clanker have exceeded 7 million USD since its launch.
Vitalik marked addresses exchanged tokens such as LEDOG for over 20 ETH and donated 320 ETH to Coin Center.
According to monitoring from Shield, Vitalik marked addresses have exchanged 330 billion LEDOG ($DOG) for approximately 11 ETH, exchanged about 30 trillion DOGC for about 10.8 ETH, exchanged 300 million VITALIK for about 1.1 ETH, and donated 320 ETH to Coin Center.
Investment and Financing
Blockchain payment company Partior completed an 80 million USD Series B financing, with Deutsche Bank participating as an investor.
Blockchain payment company Partior completed an 80 million USD Series B financing, with Deutsche Bank joining as a new investor. Previously, in July 2024, Partior announced it had completed a 60 million USD 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 address the sequential processing issues in traditional payment systems. Patricia Sullivan, Global Head of Institutional Cash Management at Deutsche Bank, stated that the bank, as the largest euro clearing house, plans to join the Partior platform as a euro and USD settlement bank.
This financing will be used to strengthen Partior's global expansion and develop new features such as domestic and foreign exchange swaps. Notably, Deutsche Bank has been increasing its investment in the cryptocurrency sector in recent years and applied for a digital asset custody license from German financial regulators in June 2023.
Cryptocurrency yield protocol developer Avant completed a 6.5 million USD seed round financing, with Avalaunch and others participating.
Cryptocurrency yield protocol developer Avant completed a 6.5 million USD seed round financing, with a post-investment valuation of 25 million USD. Investors included Superlayer, Avalaunch, GoGoPool, Daybreak Digital, and Linda Kreitzman. Founder Rhett Shipp stated that Avant was established in June this year and informally began discussions with investors in May, officially starting financing in October and concluding earlier this month.
According to reports, Avant has issued a 'stable value' token called avUSD, which can be staked to obtain savUSD (the yield version of avUSD). 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, 'The whitelist will expand in the coming weeks.' He also added that avUSD and savUSD are planned for full public release in December.
Animoca Brands strategically invests in Pudgy Penguins' parent company Igloo, Inc.
According to official news, Animoca Brands strategically invested in Pudgy Penguins' parent company Igloo, Inc., with the specific amount not disclosed. It is reported that Animoca Brands' subsidiaries The Sandbox and Animoca Brands Japan also participated in the investment in Igloo, Inc.
Regulatory Trends
Tether will stop supporting EURt due to European regulatory challenges and focus on Hadron.
Stablecoin issuer Tether announced in a statement on November 27 that it plans to terminate support for its euro stablecoin EURt. Tether CEO Paolo Ardoino attributed this move to the changing regulatory environment for stablecoins in Europe.
The company stated that it has stopped minting new EURt tokens, with the last issuance request processed in 2022. Current holders of the asset can redeem their tokens before November 27, 2025. Data indicates that EURt has struggled to gain attention in Europe, with a market cap of only 38 million USD, lagging behind Circle's EURC (market cap of 90.5 million USD) and Stasis's Euro (market cap of 130 million USD). In stark contrast, Tether's flagship stablecoin USDT has a market cap of 132 billion USD, more than three times that of its closest competitor USDC.
Although Tether may not comply with MiCA regulations, Ardoino pointed out that the company's new plan Hadron will become a top priority in Europe. He stated that Hadron has the potential to fundamentally change the accessibility of asset tokenization for institutions, governments, fund managers, and private companies.
Former CFTC chairman expected to become the first 'Crypto Czar', says Crypto is a 'major priority' for the Trump administration.
Former CFTC Chairman Chris Giancarlo is a strong contender to become the first 'Crypto Czar' in the U.S., as President Trump is considering establishing this new position, which may oversee a blockchain industry worth 3 trillion USD. Giancarlo is known as 'Crypto Dad' for advancing clear regulatory work during his two-year term, including paving the way for Bitcoin futures to be traded on U.S. exchanges. He stated in an interview on Wednesday that he has declined offers from the CFTC and U.S. SEC. 'Trump has specifically laid out a series 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 mentioned that this includes 'establishing Bitcoin strategic reserves, forming a cryptocurrency committee, and ensuring that people have the ability to self-custody their wallets.' In other areas, he talked about capital gains tax exemptions on cryptocurrency earnings domestically in the U.S., 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 'major priority' for the new administration. Although Trump was once skeptical of cryptocurrency, he has maintained good relations with industry insiders during his past year seeking re-election and made many commitments to improve the outlook of the U.S. cryptocurrency industry. 'In terms of candidates, they are usually less specific. I think Trump is very specific about what he is going to do,' he said, noting that Trump is surrounded by advocates for cryptocurrency, such as Elon Musk, head of the Department of Government Efficiency, and Vivek Ramaswamy.
Voices of Individuals
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 significantly exceeding the price set during the first bull market cycle.
Economists: The Federal Reserve may skip one rate cut in December or January next year.
LPL Financial Chief Economist Jeffrey Roach expects the Federal Reserve to skip one rate cut in December or January next year, with up to four rate cuts possible within 2025. Analysts at Bank of America expect a rate cut in December but added that 'given the resilience of economic activity and stubborn inflation, the magnitude of the cuts seems to lean towards being more moderate.'
According to the CME FedWatch tool, the market estimates a roughly 45% chance that the Federal Reserve will keep interest rates unchanged at the upcoming December meeting. A month ago, this probability was 24%.
