Headlines
▌Over the past 24 hours, liquidations exceeded $275 million, primarily long positions
Coinglass data shows that over the past 24 hours, the total liquidation amount across the network reached $275 million, with approximately $187 million in long position liquidations and about $88.77 million in short position liquidations.
▌21Shares submitted S-1 form to the U.S. SEC to apply for the launch of XRP ETF
According to the U.S. SEC's official website, 21Shares has submitted an S-1 form to the SEC to apply for the launch of an XRP ETF (21Shares Core XRP Trust). This ETF will track the price of XRP and is planned to be listed on the Cboe BZX exchange. The ETF does not involve leverage or derivatives and aims to reflect the dollar performance of XRP through the CME CF Ripple-Dollar reference rate (New York version). Coinbase Custody will act as the XRP custodian for this ETF, responsible for holding all assets.
Market
As of press time, according to Coingecko data:
BTC recent transaction price $69,534.31, daily price change -0.0%;
ETH recent transaction price $2,512.72, daily price change +0.3%;
BNB recent transaction price $573.42, daily price change +0.1%;
SOL recent transaction price $167.09, daily price change +0.2%;
DOGE recent transaction price 0.161 yuan, daily price change -0.1%;
XPR recent transaction price $0.5146, daily price change +1.4%.
Policy
▌DWF Labs considers legal action against former partner Eugene Ng
DWF Labs Executive Partner Andrei Grachev stated that DWF Labs will consider legal action against dismissed founding partner Eugene Ng. Ng was previously accused of drugging and sexually harassing a woman.
▌Criminal trial of Tornado Cash co-founder Roman Storm postponed to April 2025
A judge in New York has ruled that the criminal trial of Tornado Cash co-founder Roman Storm will be postponed until April 2025 to resolve discrepancies regarding expert witness disclosures. The trial was originally scheduled for this December. Storm's legal team has filed for a writ of mandamus with the U.S. Court of Appeals for the Second Circuit to overturn the order regarding expert witnesses, with a hearing scheduled for November 12. Storm faces three charges of aiding money laundering, unlicensed remittance, and violating sanctions, which could lead to a maximum of 45 years in prison if convicted.
▌U.S. government negotiating with PAC to recover $13.25 million in political donations from former FTX executives
The U.S. government is negotiating with several political action committees (PACs) to return up to $13.25 million in political donations made by former FTX executives. This request has been approved by Judge Lewis Kaplan, who is overseeing the FTX case, and the government will continue discussions with PACs about the forfeiture of these funds by January 15. Data shows that the donations were made by FTX founder Sam Bankman-Fried or former engineering director Nishad Singh, who testified that some donations were made at Bankman-Fried's request and that he had signed blank checks.
▌Paxos CEO: Develop welcoming crypto policies to keep the U.S. in the lead
Paxos CEO Charles Cascarilla sent an open letter to Vice President Kamala Harris and former President Donald Trump on Tuesday, urging immediate regulatory reform to support blockchain and digital assets in the U.S. Cascarilla warned that the American financial system is 'closed, outdated, and inefficient,' and risks falling behind global competitors.
▌Coinbase's Chief Legal Officer: More than 20 FDIC requests for banks to 'suspend,' 'stop providing,' or 'not continue' providing crypto banking services
Coinbase's Chief Legal Officer stated on the X platform that so far, we have identified over 20 instances where the FDIC (Federal Deposit Insurance Corporation) requested banks to 'suspend,' 'stop providing,' or 'not continue' providing crypto banking services. The public deserves transparency, not an institution operating behind bureaucratic walls.
Blockchain Applications
▌DePIN XYO expands to Solana blockchain
Decentralized Physical Infrastructure Network (DePIN) XYO announced that it has bridged from Ethereum to Solana, citing that the Solana network has 'high throughput, low transaction costs, and scalability.' XYO is a DePIN designed to validate location and other real-world data for Web2 and Web3 projects.
▌Web3 game development company Midnight will launch its first MMO game on Aptos
Web3 game development company Midnight will launch the world's first MMO game (The Evergreen: Midnight Market) on Aptos. The game is currently in closed beta and will be open to global players on November 13.
Cryptocurrency
▌Kalshi launched more political event prediction markets ahead of the U.S. elections
According to regulatory filings submitted to the U.S. Commodity Futures Trading Commission (CFTC), Kalshi is launching more political event prediction markets ahead of the U.S. elections, including the results of statewide referendums in Ohio and the announcement of the last state's results in the presidential race by the AP (Associated Press), among others. According to CFTC data, since October 31, Kalshi has registered over twenty contracts, most of which are related to the upcoming U.S. elections. According to Kalshi's website, as of November 1, the total betting volume for 'Who will win the presidential election?' since its listing on October 7 has reached approximately $144 million. Data from the platform shows that as of November 1, the likelihood of Trump winning the presidential election is 56%, while Harris's likelihood is 44%.
▌Viewpoint: Bitcoin is no longer just 'digital gold,' but a component of global financial infrastructure
As Bitcoin marks the 16th anniversary of its white paper, Rena Shah of Trust Machines pointed out that Bitcoin is now not just 'digital gold,' but a core component of global financial infrastructure. The Bitcoin ecosystem is reaching a critical turning point in 2024, including Layer 2 scaling, the popularity of Ordinals, and accelerated institutional entry. Bitcoin ETFs driven by financial giants like BlackRock have attracted over $1.5 billion in inflows, marking Bitcoin's broad recognition by the traditional financial system.
▌Web3 companies raised $5.4 billion in the first three quarters of 2024
According to Crunchbase's Web3 tracking data, in the first three quarters of 2024, Web3 startups raised over $5.4 billion in venture capital. Investors are increasingly targeting emerging markets at the intersection of blockchain and artificial intelligence, while projects focused on decentralized blockchain infrastructure are also attracting significant capital inflows. In just the last quarter, capital influx into blockchain companies reached $1.4 billion. Additionally, highlights of funding in October included Glow raising $30 million for developing decentralized solar grids and Nillion Network raising $25 million to advance its decentralized privacy platform.
▌pump.fun transferred 90,000 SOL to Kraken 4 hours ago
Arkham data shows that pump.fun transferred 90,000 SOL to Kraken 4 hours ago, valued at approximately $14.97 million.
Important Economic Dynamics
▌Federal Reserve reverse repo usage falls to around $155 billion for the first time since 2021
On Friday, the Federal Reserve's overnight reverse repurchase agreement (RRP) usage was $155.476 billion, a new low since 2021, compared to the previous trading day's $201.278 billion. The number of participating counterparties was only 41, significantly lower than the usual levels.
▌U.S. stock indices collectively rise, Nasdaq up 0.80%
U.S. stock indices collectively rise, with the Dow up 0.69%, Nasdaq up 0.80%, and S&P 500 up 0.41%. Intel rose nearly 8%, as the company's performance exceeded expectations and its revenue guidance was above analyst forecasts.
▌U.S. October non-farm payroll data disappoints, traders increase bets on a 25 basis point rate cut by the Federal Reserve
U.S. October non-farm payroll data disappoints (12,000 jobs), traders increase bets on a 25 basis point rate cut by the Federal Reserve next week. (Jinse)
Golden Encyclopedia
▌What is the Aptos blockchain?
Aptos aims to be a fast, scalable, and reliable blockchain that supports decentralized applications (DApps) and is designed to accelerate the development of Web3. Aptos blockchain was launched by Avery Ching and Mo Shaikh on October 12, 2022. It aims for high throughput and low latency, meaning it can process about 160,000 transactions per second and validate them in less than 1 second on average. Aptos technology natively integrates the Move language to provide these fast and secure transactions, allowing developers to write smart contracts and build DApps. Aptos provides everything needed to 'build your big idea,' even incorporating artificial intelligence, making it easy for both beginners and experts to use Web3.
Disclaimer: Jinse Finance, as a blockchain information platform, publishes articles for informational reference only and does not constitute actual investment advice. Please establish a correct investment philosophy and be sure to enhance risk awareness.
