Today's news alert:
The Suriname presidential candidate promised that if elected, Bitcoin would become legal tender.
The Trump family's crypto project WLFI received a $30 million investment from Justin Sun.
Binance HODLer airdrop launches the second phase project Thena (THE).
MicroStrategy purchased 55,500 bitcoins last week, totaling $5.4 billion.
Video-sharing platform Rumble announced it will purchase $20 million worth of Bitcoin.
Telegram auction platform Fragment introduces mandatory KYC.
Pump.fun will suspend live streaming features to enhance content review.
Ethereum regains dominance in USDT supply, surpassing Tron for the first time since 2022.
Regulatory news
Suriname's presidential candidate Maya Parbhoe promised to make Bitcoin legal tender if elected.
According to Cointelegraph, Suriname's presidential candidate Maya Parbhoe stated that if elected, she would make Bitcoin legal tender. In her first year, she plans to gradually replace the Surinamese dollar with satoshi (the smallest unit of Bitcoin) and ensure that all salaries are paid in BTC, aiming to create a Bitcoin nation more deeply rooted in cryptocurrency than El Salvador. Maya Parbhoe's subsequent plans include dissolving the central bank, cutting taxes, privatizing public services, issuing national Bitcoin bonds, and promoting widespread deregulation.
The UK's financial regulator plans to establish a cryptocurrency regime by 2026.
According to CoinDesk, the UK's financial regulator, the Financial Conduct Authority (FCA), expressed a desire to implement a cryptocurrency regime by 2026 to address the growing ownership of cryptocurrencies in the country. The FCA's roadmap states that it plans to publish a discussion paper on market abuse and disclosure by the end of this year. It intends to release documents on stablecoins, trading platforms, staking, prudent cryptocurrency risk exposure, and lending before the beginning of next year. The regime is planned to take effect after the final policy statement is released in 2026. A study commissioned by the FCA revealed that the holdings of crypto assets have grown by 4% in the past two years, with approximately 7 million adults holding crypto assets among the country's roughly 68 million population. Earlier news indicated that the UK would announce cryptocurrency and stablecoin regulatory rules in early 2025.
AXIOS: Trump is considering appointing a Minister of Artificial Intelligence.
According to AXIOS, Trump is considering appointing a Minister of Artificial Intelligence to coordinate federal policy and government use of emerging technologies.
Sources from Trump's transition team stated that President-elect Trump is considering appointing an artificial intelligence leader in the White House to coordinate federal policy and government use of emerging technologies. The sources indicated that Elon Musk would not hold the position but is expected to be closely involved in future discussions and use cases. This position would be responsible for centralizing public and private resources to keep the US at the forefront of artificial intelligence. The federal government has a tremendous demand for AI technology, and this leader may work with chief AI officers from various agencies (these chief AI officers were established in President Biden's AI executive order and may be fortunate enough to remain in their positions after Trump takes office).
Project Dynamics
Binance will delist GFT, IRIS, KEY, OAX, REN.
According to the official announcement, Binance has decided to stop trading and delist the following tokens on December 10, 2024, at 11:00 (UTC+8): Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), Ren (REN). Binance emphasizes that it will regularly review the digital assets listed to ensure a high standard of asset quality. When a token no longer meets listing standards or there are significant changes in the industry environment, a thorough project review will be conducted, and it may be delisted.
Binance HODLer airdrop launches the second phase project Thena (THE).
According to the official announcement, Binance HODLer airdrop is now live for the second phase project - Thena (THE), a DEX built on BNB Chain and opBNB that provides liquidity. From November 6, 2024, 08:00 to November 14, 2024, 07:59 (UTC+8), users who purchase regular and/or fixed products on the BNB Earn platform using BNB will receive airdrop allocations. The THE HODLer airdrop page is expected to go live within twelve hours, and the new tokens will be distributed to users' spot wallets one hour before trading starts. Binance will list Thena (THE) on November 27, 2024, at 18:00 (UTC+8) and open trading pairs THE/BTC, THE/USDT, THE/BNB, THE/FDUSD, and THE/TRY. Applicable to seed label trading rules.
Later news, THE surged over 430% in one hour, possibly driven by the Binance announcement.
Zhao Changpeng: I am not against Meme coins, but I hope blockchain technology is used to build real applications.
Former Binance CEO Zhao Changpeng stated on platform X: 'I am not against Meme coins, but Meme coins have become a bit strange now. Let's use blockchain technology to build real applications.'
The owner of the internet celebrity squirrel Peanut launched a new token 'JUSTICE' and threatened to sue the crypto community.
According to Decrypt, the owner of internet celebrity squirrels Peanut and raccoon Fred, Mark Longo, shared in a Twitter video how he handled the stories of Peanut and Fred, and decided to launch a new token called 'Justice for Pnut and Fred' (abbreviated as JUSTICE) on the Solana blockchain to commemorate his pets. Longo stated: 'The government will not escape this. Justice will be served, not just for Peanut and Fred... We will show the world that crossing the line is unacceptable.' He also accused the crypto community of profiting from his personal trauma. Longo insisted: 'The cryptocurrency world exploited my tragedy and benefited in various possible ways.' He described it as 'one of the most painful things' in his life. He claimed: 'People want to profit from this.' After condemning the cryptocurrency community for allegedly profiting from this incident, Longo continued to announce that he would launch a new token. Longo stated: 'This is the only token I will forever be associated with.' Members of the PNUT community rebutted that they had donated about $50,000 to Longo, but he immediately sold it. According to Solscan data, at the time of writing, JUSTICE's market cap is approximately $42.1 million, with over 15,800 holders, and the token was minted using the Pump.fun platform.
Later news, 80% of the supply of the JUSTICE token issued by the owner of the internet celebrity squirrel Peanut is suspected to be controlled by the internal team.
ai16z founder: discussions are ongoing with a16z to establish an entity organization, and the ai16z DAO autonomous trading function will be launched next week.
Crypto KOL Mark summarized project information updated by ai16z founder Shaw on platform X. This includes: plans to launch the ai16z Dao autonomous trading function next week, and a commitment not to tweet until everything is completed; a major CEX wants to go live with ai16z but requires ai16z to establish a legal entity first; discussions with the actual a16z to start DUNA (Decentralized Non-Corporate Non-Profit Organization: legal DAO formation in Wyoming); negotiations with companies like the Ethereum Foundation, Magic Eden, and Jupiter for potential collaborations; the Ai16z open committee will be jointly established with Nous Research (a top open-source AI company) and Loot Realms.
Farcaster founder: Frames v2 will be fully launched in early 2025.
According to Cointelegraph, Dan Romero, founder of the decentralized Web3 social protocol Farcaster, detailed the updates on Frames, which caused a 400% surge in protocol users within a week. Romero mentioned while introducing the Frames v2 specifications on platform X: 'The new Frame standard will support interactive applications, on-chain transactions, and user notifications, which will drive the emergence of many new types of social applications.' Additionally, Romero linked to the developer preview of Frames v2 in another post, stating: 'We have significantly improved the reliability and speed of transactions and signing messages on mobile devices using the Mobile Wallet Protocol and Rainbow.' The new Frames specifications will be launched on the web and mobile devices on November 27, with a more feature-rich update launching on December 6. According to the complete specifications on GitHub, the comprehensive stable version is expected to be released in January or February next year.
MicroStrategy purchased 55,500 bitcoins last week, totaling $5.4 billion.
According to MicroStrategy's latest submitted 8-K document, the company purchased 55,500 bitcoins between November 18 and 24, totaling approximately $5.4 billion, at an average price of $97,862 per bitcoin. This purchase used proceeds from convertible bond issuances and stock sales. As of November 24, MicroStrategy holds a total of 386,700 bitcoins, with a total purchase cost of approximately $21.9 billion, at an average cost of $56,761 per bitcoin. The company stated that the quarterly yield from Bitcoin holdings reached 35.2%, and the annual yield reached 59.3%.
Video-sharing platform Rumble announced its Bitcoin financial strategy, including a plan to purchase $20 million worth of Bitcoin.
According to official news, video-sharing platform and cloud service provider Rumble (NASDAQ:RUM) announced that its board has approved a corporate financial diversification strategy that allocates part of the company's excess cash reserves to Bitcoin. Rumble's Bitcoin allocation strategy will include a company-decided purchase of up to $20 million worth of Bitcoin. According to the allocation strategy, the actual timing and value of Bitcoin purchases will be determined by management and will depend on various factors, including but not limited to general market and business conditions, Bitcoin trading prices, and Rumble's anticipated cash needs. The allocation strategy may be suspended, interrupted, or modified for any reason at any time. Rumble's Chairman and CEO Chris Pavlovski stated: 'We believe the world is still in the early stages of Bitcoin adoption, and as the US elects a pro-crypto president and institutional adoption increases, the pace of Bitcoin adoption has recently accelerated. Unlike any government-issued currency, Bitcoin will not be diluted by endless printing, making it a valuable inflation hedge and an excellent addition to our treasury.'
Fox Business reporter: WisdomTree registered XRP ETF in Delaware.
Fox Business reporter Eleanor Terrett stated on platform X that global ETF provider WisdomTree has registered an XRP ETF in Delaware, and she has confirmed with the company that this is a legitimate application. Notably, WisdomTree currently manages assets exceeding $100 billion.
Semler Scientific purchased 297 bitcoins, bringing their total holdings to 1,570 bitcoins.
Semler Scientific purchased 297 bitcoins from November 18 to 22, with a total expenditure of approximately $29.1 million, at an average price of $97,995 per bitcoin. As of November 22, the company holds a total of 1,570 bitcoins, with a total investment of approximately $117.8 million, at an average purchase cost of $75,039 per bitcoin. Additionally, Semler Scientific announced that its quarterly bitcoin yield reached 37.4%, and the year-to-date yield reached 58.4%. The company stated that bitcoin has been incorporated as a major financial reserve asset and has achieved asset appreciation through its fund management strategy.
Robinhood US launches WIF token.
According to Aggr News, Robinhood's US platform has officially launched the WIF token.
Telegram auction platform Fragment introduces mandatory KYC, using third-party verification services from Sumsub.
According to Telegram Info (@tginfo), the Telegram-specific auction platform Fragment has started to enforce mandatory real-name authentication (KYC), requiring users to verify their identity to purchase services such as 'star coins', Telegram Premium, or anonymous numbers. The verification process is provided by a third-party service, Sumsub, and requires users to submit an email, phone number, ID document scans, and a facial photo. Users can check the certification status of their Telegram account and TON wallet on their Fragment profile page. Currently, purchasing Telegram Premium and star coins through @PremiumBot or app stores is unaffected. Decentralized markets (such as Getgems.io) still support using cryptocurrencies to purchase anonymous numbers and usernames without KYC, but it remains uncertain whether these NFTs can be used in Telegram long-term. Telegram has not yet responded to this change.
Avalanche announces the launch of the Avalanche9000 testnet and a $40 million retroactive reward program.
Avalanche announced the official launch of the Avalanche9000 testnet and the initiation of a retroactive reward program named Retro9000, with a total reward amount of up to $40 million, including $2 million in referral rewards. This program will specifically reward developers who develop L1 blockchain and related key development tools on the Avalanche9000 testnet. Avalanche9000 includes technical updates such as the Etna upgrade, ACP-77, and ACP-125, which reduce deployment costs by 99.9%, simplify customization, and enhance maintenance performance. Currently, over 500 L1 projects are being developed on both testnet and mainnet, covering various fields such as community gaming, small business payment solutions, and institutional research.
The value of Telegram's digital assets increased to $1.3 billion in the first half of 2024.
According to the Financial Times, based on unaudited financial statements, Telegram reported a significant increase in the value of its digital assets in the first half of 2024, from nearly $400 million at the end of last year to $1.3 billion. These documents indicate that this growth, combined with revenue from the sale of its closely related cryptocurrency Toncoin and another Toncoin-related transaction, has provided financial cushioning for the Dubai-based company after its founder Durov encountered legal troubles; Durov is currently still on bail in France. According to financial statements, Telegram achieved $525 million in revenue over the six months ending June 30, a 190% increase compared to the same period in 2023. According to documents, nearly half of the revenue ($225 million) came from a one-time transaction with an unnamed company. Under the terms of the deal, Telegram allowed the cryptocurrency Toncoin to become the only method for small businesses to purchase ads on the app, in exchange for 'compensation.' The exclusive agreement was terminated on October 1. Telegram stated in its disclosure that it 'holds a large amount of Toncoin and faces the risk of changes in Toncoin's market value,' and acknowledged that its price has been volatile since Durov's detention. In the first half of the year through June, the company generated $353 million in earnings from the sale of digital assets, followed by another $348 million from the sale of Toncoin. The company also achieved $335 million in net profit after tax in the first half of this year. These numbers far exceed the $342 million in revenue and $173 million in losses for the entire year of 2023, indicating that Telegram was on track to achieve its first annual profit before Durov's detention.
Pump.fun will suspend live streaming features to enhance content review.
The meme coin launch platform Pump.fun announced that it will indefinitely suspend the live streaming feature until the content review infrastructure can handle the increased volume of activity. Pump.fun stated that it will improve rule transparency in the future by publishing guidelines and providing clearer review decision information for creators and users.
Investment and Financing
BNB Chain's re-staking infrastructure Kernel has completed $10 million in financing, with investors including Binance Labs.
According to official news, BNB Chain's re-staking infrastructure Kernel has raised a total of $10 million in multiple rounds of financing, with investors including Binance Labs, SCB Limited, Laser Digital, Bankless Ventures, Hypersphere, Draper Dragon, DACM, CYPHER, ArkStream Capital, HTX Ventures, Avid VC, GSR, Cluster Capital, Longhash Ventures, Via BTC, Side Door Ventures, NOIA, and DWF Labs. Kernel is a core re-staking infrastructure project focusing on BNB Chain, about to launch its mainnet, and will introduce KERNEL tokens to unify the governance and incentives of Kelp, Kernel, and Gain, rewarding early supporters and promoting ecosystem development.
Earlier news, Binance Labs announced investment in BNB Chain's re-staking infrastructure Kernel.
The Trump family's crypto project WLFI received a $30 million investment from Justin Sun.
According to Bloomberg, Tron founder Justin Sun invested $30 million in US President-elect Trump's DeFi project World Liberty Financial (WLFI), becoming the largest investor in the project. Justin Sun wrote on platform X: 'The US is becoming a blockchain center, and the rise of Bitcoin is thanks to Trump.' A WLFI spokesperson stated in a statement: 'Several significant purchases have been made in recent weeks, and we are confident about future success. More developments of this kind are expected in the coming weeks and months.'
Schuman Financial launches EURØP, a euro stablecoin compliant with MiCA regulations.
According to The Block, Schuman Financial launched EURØP, a euro stablecoin compliant with MiCA regulations, which is pegged 1:1 to the euro and backed by cash and cash equivalents, aiming to simplify global digital payments, on-chain foreign exchange trading, and the tokenization of physical assets. Schuman Financial has obtained a stablecoin issuance license from French regulators ACPR to issue electronic currency tokens pegged to any currency under MiCA regulations.
This launch follows the completion of its $7.36 million seed round financing in September, led by RockawayX, with participation from Lightspeed Faction, Kraken Ventures, Nexo Ventures, Gnosis VC, Delta Blockchain Fund, and Bankless Ventures. EURØP will first be issued on Ethereum and Polygon chains, with plans to integrate more blockchains and DeFi protocols in the future, while also being listed on major European crypto exchanges. The company will also build an ecosystem that includes SEPA integration, banking channels, and custodial partnerships with top global banks (such as Société Générale).
Important data
The US Bitcoin spot ETF saw a total net outflow of $438 million yesterday, marking the first net outflow after five days of net inflows.
South Korea's cryptocurrency trading volume surges, with DOGE and XRP trading amounts exceeding Bitcoin's.
According to Bitcoin.com, South Korea's largest cryptocurrency exchange Upbit saw a trading volume increase of over 100% in the past week, rising from $5.4 million on November 21 to $11.9 million on November 25. Notably, DOGE and XRP trading volumes in the fourth quarter reached $58.2 billion and $38.6 billion, far exceeding Bitcoin's $30.1 billion. Tiger Research's fourth-quarter report indicates that about 7.78 million South Koreans (15% of the total population) are active in cryptocurrency trading. According to a SamarinHR survey, 49.8% of South Korean workers aged 30-39 invest in cryptocurrencies, while the investment ratio for those in their 20s is 37.1%.
Analysis: 64% of tokens in Wintermute's Meme coin TOP 25 holdings have been listed on Binance.
According to on-chain analyst @ai_9684xtpa, currently, 64% of the tokens in Wintermute's Meme coin TOP 25 holdings have been listed on Binance, with only 6 listed on both spot and futures, while the rest are only on contracts. For market makers, this hit rate is already very high; for recently added market-making projects or those with a higher holding proportion, the rate may even be higher. Tokens that are involved in market making but have not yet been listed on Binance include: PEPECOIN, APU, SPX, COQ, MANEKI, michi, MOTHER, REKT (a newly added market-making project three days ago), BENJI (the lowest market cap project in the TOP 25 holdings). Common characteristics of tokens that Wintermute participates in market making and are listed on Binance include: 1. Community heat is high enough; 2. Market cap over $10 million but less than $500 million before listing on Binance; 3. Wintermute's initial holding ratio is not less than 1%. Recent significant changes in Wintermute's holdings include: 1. NEIRO (uppercase) holding ratio surged by 13.57%, currently the highest proportion token; 2. GOAT surpassed MOODENG to become the top Meme coin by holding; 3. POPCAT's position value has increased to $18.1 million, ranking 3rd; 4. REKT is its latest market-making project.
Base set a record of 106 TPS, and its TVL surpassed $10 billion.
According to Cointelegraph, Ethereum Layer 2 network Base just set a record of 106 TPS, further surpassing Taiko to become the fastest Ethereum Layer 2 solution, while its total locked value (TVL) recently exceeded $10 billion. This marks a nearly 28% growth in Base's TPS since November 23. According to Base founder Jesse Pollak, the average TPS of Base was only 4 in January. L2BEAT data shows that Base's TVL has increased to $10.68 billion since surpassing the $10 billion mark on November 15, making it the second-largest TVL in Ethereum Layer 2, next to Arbitrum One's $18.3 billion, which previously surpassed OP Mainnet in June to claim the second spot. L2BEAT stated that this brings the total locked value of Ethereum Layer 2 solutions to $49.3 billion.
Ethereum regains dominance in USDT supply, surpassing Tron for the first time since 2022.
According to The Block, Ethereum regains dominance in USDT supply, surpassing Tron for the first time since 2022. As of the time of publication, the circulation of USDT on Ethereum is 66.936 billion, while USDT on Tron is 61.77 billion. Year-to-date, the supply of USDT on Ethereum has increased by nearly 62%, while the increase for Tron during the same period is smaller at 24.4%.
