1. Andre Cronje: Found that a 1 billion FDV project used its open source code
Andre Cronje, director of the Fantom Foundation, tweeted that he had just seen a project with a TVL of $1 billion and a FDV of $1 billion. They directly took my open source code (based on the GPL3 agreement) and replaced it with a BUSL license. I can accept not having my name on it, I can accept them deleting my name from the code, and I can accept them not mentioning me or the original project at all on their website or documents, and taking great pains to repackage some concepts to avoid any association. But taking open source stuff, making it restrictive, and then making a lot of money from it is really chilling. This circle has changed much more than I thought.
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2. CMC Research: Bitcoin may peak between May and June 2025
Bitcoin is likely to enter a supercycle due to institutional adoption, Bitcoin ETFs and changes in market dynamics. According to previous cycles, Bitcoin usually reaches its historical highs 518 to 546 days after the halving, and this bull run has been advanced by 100 days, and Bitcoin may reach a new high between May and June 2025. Although the current bull run is accelerating, CMC also reminds that the slowdown in infrastructure growth may indicate that market dynamics are evolving. In addition, the report pointed out that the DeFi and infrastructure sectors performed weakly in the third quarter, with storage, lending and privacy sectors falling by 39%, 37% and 31% respectively.
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3.QCP Capital: The situation in the Middle East dragged down Bitcoin's short-term pullback, and a rebound opportunity is expected to come
QCP Capital's latest report pointed out that although the tension in the Middle East caused a brief correction in Bitcoin, with the price of Bitcoin falling to 59,972, this weakness is expected to be only temporary. Due to the high correlation between cryptocurrencies and US stocks, as US stocks recover, the cryptocurrency market is also expected to rebound. QCP emphasized that the US non-farm payrolls report will be a key factor. If the report shows a strong labor market and combined with market expectations of interest rate cuts, it may bring upside opportunities for risky assets.
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4. Taiwan Financial Supervisory Commission drafts new cryptocurrency anti-money laundering regulations
Taiwan’s Financial Supervisory Commission (FSC) has drafted new anti-money laundering (AML) regulations that require virtual asset service providers (VASPs) to complete AML compliance registration or face up to two years in prison and a fine of up to NT$5 million (about $155,900). The new regulations will take effect on January 1, 2025, and VASPs must complete registration by the end of September 2025.
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5. India's Enforcement Directorate uncovers $48 million cryptocurrency scam linked to online game Fiewin
The Enforcement Directorate of India has uncovered a massive $48 million scam linked to online gaming app Fiewin, which was linked to Chinese nationals. After an in-depth investigation, about $3 million in accounts associated with these individuals were frozen. The scam lured users with quick money-making schemes but blocked withdrawals. The investigation also involved the assistance of Binance, revealing complex cryptocurrency transfers to China.
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