1. Trump team plans to appoint Bessant as Treasury Secretary
The Trump team is preparing to announce Bessent as Treasury Secretary. Bessent has a positive attitude towards cryptocurrencies. He once said that "cryptocurrency is about freedom" and believes that Bitcoin can attract young people and new investors and help cultivate the American market culture. Scott Bessent runs a macro investment company Key Square Group. Thirty years ago, he worked for the famous investor George Soros. He was one of the "promoters" of Soros Fund Management's famous bet that the pound would collapse, and that bet made a profit of more than $1 billion.
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2. South Korean crypto platform Delio declared bankruptcy with asset losses of $1.75 billion
South Korean virtual asset deposit platform Delio was declared bankrupt by a Seoul court on November 22. Delio, which owed customers 245 billion won ($1.75 billion), stopped withdrawals last year. Delio will begin liquidation procedures. Customers can file claims by February 21, 2025, and the first creditors' meeting will be held on March 19, 2025.
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3. VanEck: Reiterates Bitcoin's target price for this cycle is $180,000
Asset management company VanEck released its latest report, reiterating that the target price of Bitcoin in this cycle is $180,000, saying that the current market is still in the early stages of a bull market. The report pointed out that Bitcoin recently broke through the $100,000 mark, and key indicators such as funding rate, relative unrealized profit (RUP) and retail interest all showed a strong upward trend. The funding rate has been above 10% since November 12, and the 30-day average of the RUP indicator is 0.54, which is still below the market top threshold of 0.70. In addition, the popularity of Google's "cryptocurrency" search is only 34% of the high point in May 2021, and Coinbase's ranking in the App Store has risen from 412 to 9th, indicating that retail interest has rebounded but has not yet overheated.
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4. Liang Fengyi: Hong Kong plans to explore the use of tokenized deposits to participate in bond and fund subscriptions
On November 22, Hong Kong Securities and Futures Commission CEO Leung Fung-yee emphasized that regulating virtual assets is to regulate products rather than technology. The most important thing is to ensure that investors are protected and whether the security is sufficient. The Securities and Futures Commission is working closely with the HKMA to explore the use of tokenized deposits to participate in bond and fund subscriptions through a pilot program.
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5. ZachXBT: Crypto KOL JRNY’s address was stolen and lost about $4 million
ZachXBT posted on his personal channel that last night, crypto assets worth about $4 million in the wallet bound to the crypto KOL JRNY were suspiciously transferred out and sold, indicating that the private key may have been leaked.
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6. Wu Shuo Zhou’s Selection: Bitcoin breaks through 99,000, MEME craze, SEC Chairman to resign, Yao Qian suspected of virtual currency bribery and news Top 10
Top 10 News of the Week
1. BTC briefly breaks through $99,000, setting a new all-time high link
BTC briefly broke through $99,000, setting a new all-time high. As of press time, it was quoted at $98,696, up 1.44% in 24 hours.
2. U.S. SEC Chairman Gary Gensler will step down on January 20, 2025 link
The U.S. Securities and Exchange Commission (SEC) announced that current Chairman Gary Gensler will step down on January 20, 2025.
3. CCDI: Yao Qian was expelled from the party and removed from office for using virtual currency to trade power for money link
Yao Qian, former director of the Science and Technology Supervision Department and former director of the Information Center of the China Securities Regulatory Commission, was expelled from the party and removed from public office for serious violations of discipline and law, and was transferred to the judicial authorities for handling. According to the website of the Central Commission for Discipline Inspection and the National Supervisory Commission, Yao Qian abused his supervisory power for personal gain, used virtual currency for power-for-money transactions, and was involved in a number of violations of integrity discipline and policy regulations. As one of the pioneers of China's central bank digital currency, Yao Qian actively participated in research and popular science work in the field of financial technology and cryptocurrency during his tenure. At present, Yao Qian has been transferred to the procuratorate by the Shanwei Municipal Supervisory Commission of Guangdong Province for review and prosecution in accordance with the law for suspected serious violations of discipline and law, and the property involved has also been transferred together.
4. Bitcoin ETF options will be listed for trading link
On September 20, 2024, the U.S. SEC approved the listing and trading of iShares Bitcoin Trust options. On November 15, 2024, the CFTC Clearing and Risk Division issued a staff advisory related to the clearing of the options. According to this advisory, the OCC is preparing for the clearing, settlement and risk management of such options. The OCC website published an updated listing date, showing that the listing date of IBIT options is Tuesday, November 19.
5. Trump team discusses setting up a White House cryptocurrency position and vetting candidates link
The Trump team is discussing the creation of a position in the White House specifically responsible for cryptocurrency policy. This position may be intended to coordinate policies among federal agencies and communicate with industry stakeholders to address issues related to the cryptocurrency field. It has not yet been determined whether this position is a senior White House position or the specific scope of responsibilities.
According to people familiar with the matter, US President-elect Trump will meet with Coinbase CEO Brian Armstrong to discuss personnel arrangements for the second government. This is the first meeting between the two after the election, and it is expected to involve cryptocurrency regulation. Previously, Trump proposed the establishment of a Bitcoin and Cryptocurrency Advisory Committee, and Armstrong publicly supported the current SEC Commissioner Hester Peirce as chairman. In addition, Coinbase donated more than $100 million to multiple political action committees before the election, most of which went to Fairshake, which is funded by the crypto industry.
6. Robert Kennedy Jr.: Most of my wealth is in Bitcoin, so I’m all in on it link
Former US presidential candidate Robert Kennedy Jr. recently released a video saying, "I am a big supporter of Bitcoin. A year ago, I attended another Bitcoin conference here. I went home and invested most of my wealth in Bitcoin, so I am all in." Previously, Robert Kennedy Jr. described Bitcoin as "free money" and reiterated the ability of digital assets to hedge against currency inflation.
7. CZ: Countries will compete to include Bitcoin in their strategic reserves link
CZ expressed his appreciation for the speech of Michael Saylor, founder of MicroStrategy, and said: A wonderful speech. Worth listening to. Thank you for your support for Binance in the video. Countries will compete to print money to buy Bitcoin, that is, Bitcoin strategic reserves. No one wants to be the last one.
8. Polish presidential candidate Sławomir Mentzen: If elected, will establish a strategic Bitcoin reserve link
Polish presidential candidate Sławomir Mentzen has promised to adopt a strategic Bitcoin reserve if elected. However, Sławomir Mentzen's Alliance for Freedom and Independence received only 7.16% of the vote in the parliamentary election. Previously, Mentzen revealed in 2022 that he invested all his funds in Bitcoin in 2013. At the same time, he also disclosed in his 2023 property declaration that he held about 4.9 million zlotys (about $1.196 million) worth of Bitcoin.
9. MicroStrategy recently purchased 51,780 BTC for $4.6 billion link
MicroStrategy announced that it has acquired a total of 331,200 bitcoins, with a total cost of approximately US$16.5 billion and an average purchase price of US$49,874 per coin. The latest 51,780 BTC purchased cost approximately US$4.6 billion, with a unit price of US$88,627. As of November 17, 2024, the company's quarterly BTC yield reached 20.4%, and the year-to-date yield was 41.8%.
10. Cryptocurrency Market MEME Mania link
Following the "capital war" on Tuesday, "Little Brother Runaway" created the most talked-about meme token on the chain on Wednesday, Quant. "Little Brother" issued a token called Quant through pumpfun during the live broadcast, and sold all the reserved shares shortly after the issuance, making a profit of about $20,000. As the story continued to spread, the meme community decided to use the pump to teach "Little Brother" a lesson. "Little Brother" issued two more tokens after Quant: the first one was sorry, perhaps to express his apology; the second one was Lucy, his dog. The meme community also found the social media accounts of "Little Brother"'s family members through human flesh, and issued a series of "Little Brother" ecological meme tokens.
On Thursday, Ethereum founder Vitalik Buterin's address vitalik.eth used 0.082 ETH (about $249.63) to exchange for 30,303 ANONs. ANON is an AI MEME coin based on the Base ecosystem, created by anonymous users through the Superanon account and the AI Agent account @clanker in the Farcaster ecosystem. Users holding 15,000 ANONs can post on Farcaster, and holding 1 million ANONs can post or delete posts on Twitter. The official website stated that it uses zk proofs to post anonymously, and because of the complex calculations required, it may take several minutes to post and perform other operations. The address of Jesse Pollak, head of the Base protocol, exchanged 0.333 ETH (about $993.41) for 31,529 ANONs.
Dogecoin UI designer DogeDesigner shared an audio clip of Musk, in which Musk said: I still hold a lot of Dogecoin, and SpaceX holds a lot of Bitcoin.
DWF Labs announced the launch of a $20 million "Meme Fund" to support innovative meme projects on multiple blockchains. DWF Labs has previously worked with tokens such as Floki, Turbo, Simon’s Cat, Neiro Ethereum, and First Neiro on Ethereum. The Meme Fund aims to provide financial and strategic support to projects that demonstrate strong community engagement, unique value, and potential for global impact.
This week, major exchanges have actively listed MEME tokens. Coinbase announced that it will add support for FLOKI (FLOKI) on the Ethereum network (ERC-20 token). Upbit, the largest exchange in South Korea, announced the launch of BONK's Korean won trading market. Binance launched perpetual contracts for multiple MEME tokens this week, including SLERF, BAN, DEGEN, etc.
Analyst @defioasis summarized the tokens that may have beta in memecoin: the leader in the sub-segment; survived 2-3 times of 70-80% retracement; FDV 20M — 30M is the best; the Holder base is large and continues to grow; has a good community; and has been listed on second-tier CEX. He suggested that instead of frequent PvP, it is better to firmly choose HODL.
Key financing events
Hybrid payment platform Rise announces $6.3 million Series A funding link
Crypto wallet Deblock raises additional $16.8 million in seed round link
Move ecosystem development platform Shinami announces completion of $5.645 million seed round of financing link
Valantis Labs Completes $7.5 Million Funding Link
OpenLayer announces $5 million seed round of funding link
Decentralized financial liquidity solution provider Barter completes $3 million seed round of financing link
Stablecoin infrastructure platform Noble announces $15 million Series A funding link
Bitcoin L2 Solution Bitfinity Network Announces $12 Million Funding Link
Liquid Collective developer Alluvial completes $4.3 million in strategic financing link
For more industry funding events, visit crypto-fundraising.info.
