1. Ethereum fell below $3,300, Bitcoin fell below $96,000
OKX data shows that Ethereum fell below $3,400, with a 24-hour drop of 7.1%, and Bitcoin fell below $97,000. The 24-hour liquidation of the entire network reached $1.03 billion today, with long orders liquidated at $861 million.
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2. QCP: Hawkish FOMC meeting triggers sharp sell-off in all risk assets
QCP analysis pointed out that the hawkish Federal Open Market Committee (FOMC) meeting of the Federal Reserve triggered a sharp sell-off in all risky assets. The Nasdaq index plummeted 3.56%, the S&P 500 fell 2.95%, and Bitcoin (BTC) fell 6.13%. Although the Fed's 25 basis point rate cut was in line with expectations, the reason for the market panic was the downward adjustment of the dot plot. Due to continued inflation, the Fed now expects only 2 rate cuts in 2025, while the market had previously generally expected 3 rate cuts. Since the US election, risky assets have shown a unilateral strong trend, making the market extremely vulnerable to any shocks.
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3. Cathie Wood: Trump's election may trigger a wave of private company mergers and acquisitions, Bitcoin's scarcity is superior to gold
ARK Invest CEO Cathie Wood stated in an interview that Trump's election will bring a wave of private company acquisitions that were previously stalled due to cumbersome regulatory processes. She noted that policy adjustments by the Federal Trade Commission (FTC) will unleash potential merger demand, creating liquidity opportunities for venture capital. Additionally, Musk will play a significant role in reducing the size of government. At the same time, Wood reiterated her prediction that Bitcoin will exceed $1 million by 2030, emphasizing that Bitcoin has a scarcity advantage over gold; when gold prices rise, mining companies increase their production, accelerating supply growth, while Bitcoin does not experience this.
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4. OKX announces the launch of the integrated platform Ordinals Launchpad
OKX announces the launch of Ordinals Launchpad, an integrated platform that enables creators to publish, engrave, and trade collectibles directly on Bitcoin. The platform officially launched 'Geminions', the first Ordinals series launched by JRNE, a community-driven Web3 jewelry brand that pioneered NFC authentication on Bitcoin. Since the inception of Ordinals, there have been 72,552,175 engravings on Bitcoin, costing 6,940 BTC.
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5. SEC approves listing and trading of Hashdex and Franklin Crypto Index ETFs
The U.S. Securities and Exchange Commission (SEC) has approved two proposals allowing the Nasdaq and Cboe BZX exchanges to list and trade shares of the Hashdex Nasdaq Crypto Index US ETF and Franklin Crypto Index ETF, respectively. The Hashdex Nasdaq Crypto Index US ETF will be listed on Nasdaq under rule 5711(d), while the Franklin Crypto Index ETF will be listed on BZX under rule 14.11(e)(4). Both ETFs will hold part or all of their shares in spot Bitcoin and spot Ethereum.
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6. Aptos appoints Avery Ching as the new CEO, driving the company into a new phase
Aptos co-founder and CTO Avery Ching will take over as CEO, driving the company into a new phase. Aptos has launched an innovative supercomputing blockchain, featuring technologies such as dynamic parallelism, shared state, and storage sharding. The company plans to roll out a new infrastructure plan in 2025 to further expand its global ecosystem, particularly in regions such as India, South Korea, Vietnam, Japan, and China. Former CEO Mo Shaikh will remain with the company as a strategic advisor. Aptos Labs co-founder Mo Shaikh announced his resignation as CEO of the company. Shaikh stated that he will continue to serve as the company's strategic advisor and plans to spend time contemplating the future of blockchain and financial systems.
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7. The BlackRock Bitcoin advertisement stating 'There is no guarantee that the supply of Bitcoin will not change from 21 million' has sparked controversy in the community
The text in the BlackRock Bitcoin advertisement released by Michael Saylor stating 'There is no guarantee that the supply of Bitcoin will not change from 21 million' has sparked controversy in the community. Adam Back stated that it is clearly their lawyers who made them write this, as they sell investment products, and their lawyers are just ensuring that they won't be sued if the community alters the numbers and they sell Bitcoin ETFs, which is important for the lawyers since they realize this is beyond their control.
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