1. In November, decentralized exchange (DEX) trading volume exceeded $300 billion, setting a historical record
In November 2024, the trading volume of decentralized exchanges (DEX) exceeded $300 billion, surpassing 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%. Additionally, at the Emergence conference, Bitget CEO Gracy Chen revealed that Bitget is considering entering the U.S. market through joint ventures. Deribit CEO Luuk Strijers expressed skepticism about the sustainability of many platforms, believing that under regulatory pressure, many platforms will exit the market due to high operating costs or be shut down by regulators.
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2. Tether CEO: Expected net profit of $10 billion in 2024
Tether Holdings Ltd. CEO Paolo Ardoino stated in an interview that the company's net profit this year is expected to exceed $10 billion. According to data tracking agency CoinMarketCap, the market capitalization of USDT has increased by nearly $50 billion this year, currently exceeding $140 billion. Most of Tether’s revenue comes from investing the reserves backing its stablecoins (including USDT) in U.S. Treasury bonds, gold, and other securities. Ardoino indicated that this year Tether will use more than half of its net profit for investments.
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3. Chongqing police file investigation into ‘Dingyifeng’ illegal deposit case, multiple places freeze related assets
On December 20, the Chongqing Public Security Bureau's Liangjiang New Area branch reported that it has filed a case against Zuo Jianling and others from ‘Dingyifeng’ subsidiary ‘Jinding Group’ for suspected illegal public deposit collection and stated it would make every effort to advance the case investigation and 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 coin) with a huge investment amount. Previously, the Shenzhen police had taken criminal coercive measures against the related suspects, and the Hong Kong Securities and Futures Commission also froze assets exceeding HK$6.3 billion of related parties and issued a temporary restraining order to prohibit the movement or disposal of assets. The case is currently under further investigation.
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4. Two men in the U.S. charged with cryptocurrency fraud, defrauding investors of over $22 million
The U.S. Department of Justice has released an indictment containing six charges against two Southern California men for defrauding investors of over $22 million in cryptocurrency 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 suspected of making or causing others to make significant false and misleading statements regarding upcoming digital asset projects and providing false and misleading project ‘roadmaps’.
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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 had reportedly registered the OpenSea Foundation in the Cayman Islands on August 20 this year. OpenSea data shows that since the official launch of the OpenSea Foundation's Twitter account, its official NFT Gemesis floor price has risen to 0.76 ETH, with a 56% increase over the past 16 hours. Additionally, the NFT saw 698 transactions in the past hour, with a trading volume reaching 48.62 ETH.
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