1. In November, the transaction volume of decentralized exchanges (DEX) exceeded 300 billion US dollars, setting a new record high
In November 2024, the trading volume of decentralized exchanges (DEX) exceeded $300 billion, exceeding the historical high of $260 billion set in May 2021. The proportion of DEX in the overall cryptocurrency trading volume has risen from 9.3% at the beginning of 2024 to 11%. In addition, at the Emergence conference, Bitget CEO Gracy Chen revealed that Bitget is considering entering the US market through a joint venture. Deribit CEO Luuk Strijers expressed doubts about the sustainability of many platforms, believing that under regulatory pressure, a large number of platforms will exit the market due to excessive operating costs or be shut down by regulators.
Read the original text
2. Tether CEO: Expected net profit to reach $10 billion in 2024
Paolo Ardoino, CEO of stablecoin issuer Tether Holdings Ltd., stated in an interview that the company's net profit is expected to exceed $10 billion this year. According to data tracking agency CoinMarketCap, USDT's market capitalization has increased by nearly $50 billion this year, currently exceeding $140 billion. Most of Tether's earnings come from investing the reserves backing its stablecoins (including USDT) in U.S. Treasury bonds, gold, and other securities. Ardoino indicated that more than half of Tether's net profit will be used for investment this year.
Read the original text
3. Chongqing police launch investigation into 'Dingyifeng' illegal deposit absorption case, multiple locations freeze related assets
On December 20, the Chongqing Public Security Bureau's Liangjiang New Area Branch reported that it has launched an investigation into the case of 'Dingyifeng' affiliated with 'Jinding Group', involving Zuo Jianling and others for suspected illegal public deposit absorption, and stated it will fully promote case investigation and asset recovery efforts. It is reported that the case involves attracting public investment under the guise of 'fake financial products' and 'DDO digital options' (suspected to be a scam token), with significant investment amounts. Previously, Shenzhen police had taken criminal coercive measures against related suspects, and the Hong Kong Securities and Futures Commission froze assets exceeding HKD 6.3 billion related to the case and issued a temporary injunction to prohibit the movement or disposal of assets. The case is currently under further investigation.
Read the original text
4. Two U.S. men indicted for alleged cryptocurrency fraud, defrauding investors of over $22 million
The U.S. Department of Justice announced an indictment containing six charges against two Southern California men for defrauding investors of over $22 million through a series of digital asset projects. According to court documents, from May 2021 to May 2024, Hay and Mayo sponsored multiple NFT and other digital asset projects and conducted promotional activities supporting these projects. Hay and Mayo are accused of making or inducing others to make significant false and misleading statements regarding the upcoming digital asset projects and providing false and misleading project 'roadmaps'.
Read the original text
5. Opensea tweets or hints at launching related tokens in the future
Opensea's tweet citing the Opensea Foundation may indicate that Opensea will launch related tokens in the future. Previously, The Block's former founder Mike Dudas posted a picture on Twitter showing that OpenSea seemingly registered the OpenSea Foundation in the Cayman Islands on August 20 of this year. OpenSea data shows that since the official OpenSea Foundation Twitter account went live, its official NFT Gemesis floor price has risen to 0.76 ETH, a 56% increase over the past 16 hours. Additionally, the NFT's sales volume reached 698 transactions in the past hour, with a trading volume of 48.62 ETH.
Read the original text
