The Michigan State Pension Fund has diversified its crypto portfolio by investing $10 million in Grayscale's Ethereum Trust (ETHE), marking its entry into #Ethereum after an earlier focus on Bitcoin. The Michigan Retirement System, managing $13.6 billion in assets, is now the first U.S. state pension fund to invest in an Ethereum ETF. This move reflects growing confidence in Ethereum as part of traditional financial portfolios.

Grayscale’s ETHE fund, which allows indirect exposure to Ethereum, has faced significant outflows since converting to an ETF in July 2024, with competing ETFs from #BlackRock⁩ and Fidelity anticipated to charge lower fees. The fund had also acquired shares in ARK's Bitcoin ETF in response to regulatory approval earlier in the year, further signaling the pension fund’s commitment to crypto diversification - #coinscreed
$ETH

1. Global Dollar Network Launch: #Robinhood , #Kraken , #Paxos , and other major financial firms launched the Global Dollar Network, a regulated network aimed at boosting #stablecoin adoption. The network supports the Paxos USDG stablecoin, which is backed 1:1 with the US dollar and regulated out of Singapore, with DBS Bank handling its reserves. USDG, initially available on Ethereum, aims to expand to other blockchains as regulations progress.

2. Semler Scientific's Bitcoin Holdings: Medical device company Semler Scientific has acquired 1,058 #Bitcoin , worth approximately $72 million, positioning it as one of the top Bitcoin holders among publicly traded companies. Despite a year-over-year revenue decline in Q3, Semler's net income rose slightly, and it plans to continue buying Bitcoin to maximize shareholder value. Its share price increased following the disclosure of its Bitcoin holdings. These developments reflect growing interest in crypto assets within both financial networks and corporate treasuries.

A major #Polymarket whale, known as "larpas," dumped over $3 million in pro-Trump bets after crypto trader GCR (Giant-Cassocked Rebirth) suggested that Polymarket odds might inaccurately favor right-wing candidates. GCR claimed to have manipulated the market by betting on Trump at low odds, profiting as those odds climbed. This aligns with his view that prediction markets tend to overvalue right-wing nominees, leading to inflated odds for Trump on Polymarket. The billion-dollar betting market around the U.S. election has attracted scrutiny as fake trades may be skewing Trump’s odds.

#BLUM , a decentralized exchange (#DEX ) and trading app on #Telegram ’s $TON ecosystem, has received a new investment from The Open Platform (TOP). This backing includes both financial and technical support, aimed at expanding Blum's user base and refining its infrastructure within Telegram's TON ecosystem, which has 950 million users. Originally supported by @Binance Labs , Blum now aims to scale up its #DeFi services through TOP's investment, which also adds credibility and resources to fast-track new features. While specific technical details remain undisclosed, TOP’s toolkit will help Blum improve user experience and multi-blockchain trading capabilities, positioning it as a major player among Telegram’s mini-apps.
$TON

While memecoins can foster community engagement, overemphasis on such speculative assets may divert resources and attention from more innovative, technology-driven #blockchain projects. This could limit the crypto industry’s overall progress.
The report concludes that while #Memecoins🤑🤑 highlight blockchain’s potential for building communities, they also pose risks and challenges, particularly concerning sustainability and long-term value - #BinanceResearch2024

Some organized groups, or "cabals," manipulate #memecoin prices by creating artificial hype and executing pump-and-dump schemes, exploiting retail traders. This calls for caution and vigilance among investors - #BinanceResearch2024

#Memecoins🤑🤑 resonate with buyers through shared narratives and cultural symbols rather than technological value. Their appeal is often rooted in the humor and community dynamics of digital culture, making them a "vote" against traditional finance and established socioeconomic structures - #BinanceResearch2024

#Memecoins promote fairness, transparency, and accessibility. Unlike many crypto projects that rely on private funding rounds, memecoins typically launch publicly, allowing equal access for retail investors - #BinanceResearch2024

Rising inflation and a depreciating fiat currency have led to increased investment in alternative assets, including #Cryptocurrencies . Young investors seek higher returns and are attracted to #memecoins for quick gains as opposed to traditional, slower wealth-building methods - #BinanceResearch2024

#Memecoins🤑🤑 have a low survival rate, with approximately 97% ceasing to trade or dropping to near-zero volume shortly after launch. Only a few, such as $DOGE and $SHIB , have demonstrated longevity - #BinanceResearch2024

Since 2022, memecoins' share of the crypto market (excluding #Bitcoin , #Ethereum , and #Stablecoins ) has nearly tripled, reaching 11% of the total market capitalization by 2024 - #BinanceResearch2024
$USDC
$BTC
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The majority of #memecoin buyers are young, with Millennials and Gen Z (ages 18–40) making up 94% of crypto purchasers. This demographic's investment interest is driven partly by disillusionment with traditional financial systems - #BinanceResearch

"Understanding the Rise of Memecoins"
by Joshua Wong, published by #BinanceResearch in November 2024, explores the phenomenon of #memecoins —high-risk, high-reward digital assets that have surged in popularity, partly due to a changing financial landscape and the influence of digital culture.

Key Insights:

1. Macroeconomic Context: The global expansion of money supply and inflation have driven investors toward alternative assets. As younger generations grow disillusioned with traditional finance, they increasingly invest in speculative assets, like memecoins, seen as both accessible and culturally relevant.

2. Memecoin Appeal: Memecoins offer principles of fairness, transparency, and accessibility, often launching without private funding rounds. This accessibility contrasts with other blockchain assets, which may favor venture capitalists.

3. Risks: Memecoins carry a high rate of failure, with the majority ceasing trading activity soon after launch. They are also susceptible to market manipulation by groups coordinating price "pump-and-dump" schemes.

4. Cultural and Community-Driven Value: Memecoins derive value from community and narrative appeal rather than technological innovation. Their popularity echoes movements like the 2021 #GameStop saga, where community interest in narrative value influenced investment choices.

5. Outlook: While memecoins highlight blockchain's potential for community building, the focus on speculative assets may detract from technological innovation in the crypto industry. Moving forward, developers are encouraged to balance memecoin-inspired community principles with sustainable project development.

The report underscores memecoins as a unique reflection of both economic trends and digital culture, while also cautioning investors about their volatility and limited lifespan.
$SHIB
$PEPE

The CEX Chronicles.
#JustinSun and #AndreCronje have raised doubts about #Coinbase CEO Brian Armstrong’s claim that Coinbase offers free asset listings. Sun reported that Coinbase requested 500 million $TRX (about $80 million) to list Tron’s native token, as well as a $250 million $BTC deposit to enhance liquidity, while @Binance listed TRX without charge. Cronje supported Sun’s account, citing similar experiences of Coinbase asking for listing fees ranging from $30 million to $300 million for #fantom .

These claims have sparked debate within the crypto community. Some, like #Akash Network’s Greg Osuri, defended Coinbase, stating they experienced no listing charges. Others noted that Coinbase’s educational campaigns, run through its Earn platform, could be mistaken for listing fees, but participation in such campaigns is optional.

This discussion follows a prior accusation against Binance for asking up to 15% of a project’s token supply for listing. Binance’s @Yi He dismissed these claims as unfounded, stressing that Binance only lists tokens that meet its stringent criteria.

The controversy highlights ongoing concerns over listing fees and transparency on major crypto exchanges, raising questions about accessibility and fairness for blockchain projects.
$FTM

#Lookonchain

As $BTC drops below $70,000, whales are still accumulating #BTC !

5 whales has accumulated 2,780 $BTC ($192.4M) since Nov 1.

1DL34f withdrew 880 $BTC ($61.18M) from #Binance    at $69,519 and currently holds1,381 $BTC ($95.12M).

bc1qw0 withdrew 615 $BTC ($41.7M) from #Binance    at $67,764.

37SwvX withdrew 595 $BTC ($41.38M) from #Binance    at $69,587.

bc1qay withdrew 550 $BTC ($38.68M) from #Binance    at $70,328.

bc1qzs withdrew 140 $BTC ($9.48M) from #Binance    at $67,764.

Address:
1DL34fcHHye4BbPq7aixdc58aGo6ejsUkA
bc1qw0e4t7ac0h0ccpz90w8ge2uqf4jj2jah4ffcxv
bc1qaygjcgvgmnk9909c2wwjgssl27h6rasntf0u0jzfc2n9kre456ksukcdtv
37SwvX3ZrZwXCwn5AR2ESGy6Qqf2Qd92qr
bc1qzscllq9w6pv56vge782f8lu5z7pjjp43cgw90r

$AR is currently trading at $13.7.
Levels seen more that a year ago.

#moonbix round 2 first player hits 1M points.

#zachxbt

Do not buy the #WizKhalifa Pump Fun it's the same scammer who hacked Andy Ayrey (Truth Terminal creator) the other day.
#pumpfun
$SOL

#zachxbt

Looks like the crypto casino #metawin was exploited for $4M+ on Ethereum and #Solana earlier today.

See 115+ theft addresses tied to the exploiter here:( https://www.chainabuse.com/report/094193aa-aba7-4af8-b7e6-84f0a6b608db)

So far stolen funds have been transferred to #kucoin and a #HitBTC nested service.
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In the world of cryptocurrency exchanges, listing costs and accessibility have become hot topics.
Recently, @sededic highlighted a case where a Tier 1 project was asked by Binance to provide 15% of its total token supply for a listing—a potential price tag of $50–$100 million, which can be daunting for emerging projects and lead to market volatility. @brian_armstrong from #Coinbase responded, asserting that Coinbase listings are free and inviting projects to apply through their Asset Hub, promoting DEXes as a viable alternative as well.

However, @AndreCronjeTech, Fantom’s founder, countered this, stating that while Binance didn’t charge them for a listing, Coinbase allegedly asked for fees ranging from $30 million to $300 million in the past. Meanwhile, @OxBEMichael added that Binance also listed the meme coin $Neiro for free, underscoring that Binance does conduct thorough due diligence, especially for tokens with unique narratives.

The conversation sheds light on the contrasting approaches between centralized exchanges and brings forward questions about transparency and fair access for blockchain projects aiming to make their mark.