Today's news tips:
1. The US SEC approved the New York Stock Exchange and the Chicago Board Options Exchange to list a variety of spot Bitcoin ETF options transactions
2. Montenegro again suspends Do Kwon’s extradition proceedings
3. Stacks will perform Nakamoto upgrade at Bitcoin block height 867867
4. BlackRock is negotiating with some large crypto exchanges to promote its token BUIDL as collateral for crypto derivatives transactions
5. Musk used "DOGE" to answer questions about the proposed "Department of Government Efficiency" during his speech
6.Scroll Lianchuang responded to concerns about points distribution and team wallets: All members, including Lianchuang, will not claim the airdrop
7. Some smart money bought GOAT and GNON at low market value and made profits of 117 times and 855 times respectively
Regulatory News
Putin: Russia will offer BRICS partners the opportunity to use digital currencies in investment
According to Jinshi, Russian President Vladimir Putin said that Russia plans to provide BRICS partners with the opportunity to use digital currencies in the investment process.
The US SEC approved the listing of various spot Bitcoin ETF options trading by the New York Stock Exchange and the Chicago Board Options Exchange
According to Coindesk, according to two memoranda issued by the U.S. Securities and Exchange Commission, the New York Stock Exchange will be allowed to list and trade options on Grayscale Bitcoin Trust (GBTC), Grayscale Bitcoin Mini Trust (BTC) and Bitwise Bitcoin ETF (BITB). Cboe Global Markets has been approved to list and trade options on Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB). A few weeks ago, the U.S. Securities and Exchange Commission approved Nasdaq's rule proposal to allow BlackRock's iShares Bitcoin Trust (IBIT) options to be listed and traded. Many market participants believe that option trading on Bitcoin ETFs will increase institutional interest in cryptocurrencies and increase overall liquidity.
Montenegro again suspends Do Kwon's extradition proceedings
According to Cointelegraph, citing local media reports, the Constitutional Court of Montenegro suspended the extradition of Do Kwon, the former founder and CEO of Terraform Labs, on October 18. The Supreme Court of South Korea entrusted the decision on Do Kwon's extradition, including his whereabouts, to the Ministry of Justice in September. Both the United States and South Korea have requested the extradition of Do Kwon. The court said it would suspend the extradition proceedings until a ruling on Do Kwon's appeal is made.
Earlier news, Montenegrin Justice Minister Bojan Božović confirmed that a decision had been made to extradite Terraform Labs co-founder Do Kwon, and the extradition agreement would be signed before the end of this week. This decision was made after a long and controversial legal process that lasted for several months. Božović did not provide further comments on the details of the case, nor did he disclose where Kwon would be extradited.
Project News
Stacks will undergo Nakamoto upgrade at Bitcoin block height 867867
Stacks announced a major upgrade at Bitcoin block height 867867 (approximately October 29th), called the Nakamoto upgrade. This upgrade will introduce "Fast Blocks" and "Bitcoin Finality" mechanisms, aiming to significantly increase transaction speeds and make Stacks the preferred platform for building a scalable Bitcoin ecosystem.
After the Nakamoto upgrade, Stacks block production will be independent of Bitcoin block production, and user transactions can be confirmed within seconds. At the same time, through Bitcoin finality, the security of Stacks transactions will be consistent with Bitcoin and will no longer be independently forked. In addition, the core development team will launch sBTC this year. This decentralized solution will support the seamless transfer of Bitcoin between L1 and Stacks L2, further promoting the expansion of the Bitcoin ecosystem and the development of decentralized applications.
BlackRock is in talks with some of the largest crypto exchanges to promote its BUIDL token as collateral for crypto derivatives trading
According to Bloomberg, asset management company BlackRock and its brokerage partner Securitize are in preliminary talks with some large crypto exchanges to discuss using BlackRock's new BUIDL token as collateral for derivatives trading, according to people familiar with the matter. These exchanges include Binance, OKX and Deribit. BlackRock's token has a minimum investment of $5 million and is designed for qualified institutional investors. Two brokers, FalconX and Hidden Road, already allow their clients, including hedge funds, to use BUIDL as collateral. Custodian Komainu said on Thursday that clients eligible to invest in BUIDL will be able to use the token as collateral to trade through Hidden Road.
Like other money market funds and most stablecoins, BUIDL is valued at $1 and invests in U.S. Treasuries, cash and repurchase agreements. However, unlike stablecoins such as Tether’s USDT and Circle’s USDC, BUIDL pays interest to holders, which could increase its appeal to derivatives traders.
Musk used "DOGE" to answer questions about the proposed "Department of Government Efficiency" during his speech
According to Fortune, during a speech Musk gave in Pennsylvania to promote Donald Trump's presidential campaign, an audience member asked Musk about Trump's promise to appoint him to lead the "Department of Government Efficiency" in the future. Musk responded: "Yes, Dogecoin (DOGE)."
Yesterday, Musk further disclosed the "Department of Government Efficiency" plan during Trump's campaign, driving the rise of DOGE tokens.
The domain name of DEX Ambient on the Scroll chain has been hijacked. Users are not allowed to interact with the front end.
Scroll on-chain DEX protocol Ambient Finance said on the X platform that the domain name has been hijacked and is currently working with the ban team and the domain name registrar to resolve the issue as soon as possible. The contract is currently completely safe and the funds are safe. However, please do not interact with the Ambient Finance front end until further notice.
According to previous news, the DEX protocol Ambient Finance (@ambient_finance) on the Scroll chain may have suffered a front-end attack, reminding users to avoid any interaction with the decentralized application (dApp) and suspend signing transactions until the problem is resolved.
Scroll Lianchuang responded to concerns about points distribution and team wallets: All members, including Lianchuang, will not claim the airdrop
Scroll co-founder Sandy Peng responded to concerns about point distribution and team wallets on the X platform. He said: Points are automatically accumulated when users bridge assets or interact with eligible protocols. This process applies to everyone, including project and team wallets. Scroll can clarify the purpose of some of these wallets. Team and treasury wallets hold points and are sometimes used to support continued development and operations within the ecosystem. These wallets play a key role in running bridge contracts, ensuring the security of funds, and managing liquidity to ensure a healthy ecosystem experience. To prevent conflicts of interest, all co-founders and team members involved in the development of Scroll or airdrops will not claim airdrops, and there is no information advantage. The community is the only beneficiary of the upcoming airdrop.
Previously, community user @Andrey_10gwei posted that the associated addresses of the Scroll founding team received a large number of points. Although it is impossible to confirm whether these suspected internal addresses of the team are eligible for airdrops, the community generally believes that the number of airdrops will be related to the points.
Financing News
Bitfinex-backed Plasma raises $3.5 million to expand use of USDT stablecoin on Bitcoin network
According to The Block, the Plasma network, supported by Bitfinex, has raised $3.5 million in its latest round of funding, aiming to expand the use of USDT stablecoins on the Bitcoin network. The funding was led by Bitfinex, with support from investor Christian Angermayer and venture capital firms such as Split Capital, Anthos Capital, Karatage, and Manifold Trading. Bitfinex CTO and Tether CEO Paolo Ardoino is also behind the project.
The Plasma network is an EVM-compatible blockchain that can run any Ethereum-compatible smart contract. Its goal is to expand the payment function of USDT on Bitcoin through a zero-fee payment channel. Paul Faecks, founder of Plasma, said that the team assumes that there will be no major changes to the Bitcoin core, so it is committed to finding a solution that can stabilize the flow of dollar-denominated payments on Bitcoin. Plasma combines Bitcoin's UTXO foundation and Ethereum's account model. It plans to provide a more flexible Bitcoin execution environment through side chains, and uses a published consensus architecture to improve transaction speed and efficiency. Plasma is also considering expanding to the Cosmos ecosystem in the future, but is currently focusing on the EVM side and hopes to enhance the payment and DeFi capabilities of the Bitcoin network through this innovation.
Canyon Network, an AI oracle on the blockchain, has raised $6 million in funding, with a valuation of $60 million
Canyon Network has officially announced that it has completed a $6 million private equity round with a valuation of $60 million. As an on-chain AI oracle, Canyon Network is committed to providing verifiable AI capabilities for decentralized applications (dApps) to eliminate trust assumptions and enhance development and security in the Web3 ecosystem.
This round of financing was supported by investors in the blockchain and AI fields such as DeData Technologies, DAO Venture, Vinci Labs and Fission Digital Capital. Canyon Network will use the new funds to develop the next generation of on-chain AI oracles, enhance its leadership in the intersection of AI and blockchain, and promote cooperation in high-impact fields such as DeFi, governance, social and games.
Real-time ZK proof network ZEROBASE completes $5 million financing, Binance Labs and others participate
ZEROBASE, a real-time ZK proof network launched by Salus, has completed a $5 million financing round, with Binance Labs, Lightspeed Faction, Dao5, Matrix Partners, IDG, Symbolic Capital, MH Ventures, PAKA and others participating.
Important data
Bitcoin spot ETF had a net inflow of $274 million yesterday, continuing its net inflow for 6 consecutive days
Ethereum spot ETF had a net inflow of US$1.9065 million yesterday, and the ETF net asset ratio reached 2.31%.
11,000 BTC options and 138,000 ETH options expire today, with a total notional value of $1.62 billion
Greeks.live macro researcher Adam posted on the X platform that 11,000 BTC options expired today, with a Put Call Ratio of 0.78, a maximum pain point of $64,000, and a nominal value of $1.26 billion. 138,000 ETH options expired, with a Put Call Ratio of 0.61, a maximum pain point of $2,500, and a nominal value of $360 million.
Bitcoin rebounded significantly this week, while Ethereum's rebound was relatively weak. The open interest of Ethereum options expiring this week was less than 30% of that of Bitcoin. Judging from the implied volatility, ETH's at-the-money option IV for around one month is only 4% higher than that of BTC, and is still continuing to decline.
Well-known trader GCR transferred about $2.3 million of MAGA tokens to MEXC
On-chain data shows that well-known trader GCR transferred about $2.3 million of MAGA (TRUMP) to the MEXC deposit address 15 minutes ago. Market data shows that MAGA has risen by 135.2% in the past 30 days and fell by 5.3% in the past 24 hours.
Some smart money bought GOAT and GNON at low market value and made profits of 117 times and 855 times respectively
According to Lookonchain monitoring, some smart money bought GOAT when its market value was $2 million, with a profit of $3.45 million (117 times), and bought GNON when its market value was $80,000, with a profit of $3.02 million (855 times).
The address spent $30,000 to buy 11 million GOAT and sold 3 million GOAT at $279,000, leaving 8 million GOAT ($3.2 million). Then it spent $35,000 to buy 27.58 million GOAT and sold 579,000 GOAT at $7,000, leaving 27 million GOAT ($3.02 million).
