The ME Foundation will launch the Solana-based ecosystem token ME on December 10, and based on pre-market trading prices, it is expected that the value of this airdrop may exceed US$500 million. The token will only be available through the Magic Eden wallet application.

Coinbase has signed a sponsorship agreement with the NBA's Los Angeles Clippers, becoming the official partner of the Los Angeles Clippers. The partnership marks a multi-year collaboration between the two parties, which will provide fans with exclusive experiences, limited edition merchandise, and unique digital and physical collectibles. Financial details of the partnership have not yet been disclosed. Coinbase will provide new and existing users with $5 worth of Bitcoin, as well as season benefits for creating a Coinbase account. Coinbase branding will appear extensively on signage inside the Intuit Dome, the first time the Clippers have used the new venue as their home court this year.

Trump nominated Scott Bessent, who runs macro hedge fund Key Square Group, to be the next U.S. Treasury secretary, hiring a key adviser to manage the sweeping economic agenda he has vowed to implement in his second term.

Jaime Lizárrag, one of the three Democratic commissioners of the U.S. Securities and Exchange Commission, plans to resign early next year. He has informed President Joe Biden of his plan to leave at the end of January. Jaime Lizárrag said he was leaving to spend more time with his family. Just one day before Lizárraga announced his resignation, U.S. SEC Chairman Gary Gensler said he planned to resign in January. This means that Commissioner Caroline Crenshaw will become the only Democrat to lead the U.S. Securities and Exchange Commission. Gensler said that he and Lizárraga not only worked together at the U.S. Securities and Exchange Commission, but also worked together at the U.S. Treasury Department after the 2008 financial crisis.

Whale Alert monitoring shows that Tether Treasury minted 1 billion USDT on the Ethereum network early this morning. Tether CEO Paolo Ardoino said that this was an authorized but unissued transaction, which means it will be used as inventory for the next issuance request and on-chain exchange.

The Chicago Board Options Exchange will begin offering its first cash-settled options product tied to spot Bitcoin on Monday, December 2.

Sui has established a strategic partnership with Franklin Templeton Digital Assets, focused on supporting Sui ecosystem builders and deploying new technologies utilizing the Sui blockchain protocol.

Ethereum’s derivatives market may be sending bullish signals as futures open interest surged more than 12% to a record $20.8 billion on Friday. According to a report from CryptoQuant, Ethereum OI-weighted futures funding rates have surged multiple times over the past week to new all-time positive highs, suggesting that bullish traders are in the driver’s seat. The CryptoQuant report added that according to Coinglass data, the current funding rate is 0.0374%, suggesting that market sentiment is bullish on price increases in the short term.

The British government will draft a regulatory framework to oversee the cryptocurrency industry early next year to keep pace with the United States and Europe in the industry, a senior British minister said.Tulip Siddiq, economic secretary of the British Treasury, said at a conference in London on Thursday that stablecoins and pledge service rules will become part of a single overall regime for crypto assets. It was previously expected that legislation in these two areas would be passed by the previous Conservative government this summer, but the general election disrupted the legislative process.

Crypto exchange Binance said that as its compliance department continues to rapidly build, it expects to have 645 full-time compliance employees by the end of this year, an increase of 34% from November last year. According to a press release issued by Binance on Friday, including contractors, the cryptocurrency exchange has more than 1,000 employees dedicated to compliance work.

James Butterfill, head of research at CoinShares, wrote on the X platform that the total assets under management of digital asset ETPs reached $150 billion for the first time, mainly due to the rise in Bitcoin prices.