Singapore Gulf Bank (SGB), backed by Bahrain sovereign wealth fund Mumtalakat and Singapore Whampoa Group, is seeking to raise at least US$50 million in a round of financing and plans to acquire a stablecoin payment company next year, according to people familiar with the matter. The bank obtained a license in Bahrain in February this year and is currently in talks with a Middle Eastern sovereign wealth fund and other investors to sell less than 10% of its equity by early 2025. The funds raised will be mainly used to accelerate product development, enhance the bank's payment network and recruit more employees. The bank plans to acquire a stablecoin payment company in the Middle East or Europe in the first quarter.

Binance Options will launch BNBUSDT and SOLUSDT monthly options at 16:00 (ET) on November 26, 2024.

Ethereum co-founder Vitalik Buterin wrote on Warpcast: “The idea of developing applications just because we need applications is fundamentally soulless and completely abandons the idea that cryptocurrency is about making concrete changes to the world, making it more free, open and cooperative. At the same time, ignoring applications and focusing on versatility is also a short-term escape strategy.

Last week (November 18 to November 2, US Eastern Time), Bitcoin spot ETFs had a net inflow of $3.38 billion last week. Among them, Grayscale ETF GBTC had a net outflow of $52.85 million, and the current historical net outflow of GBTC is $20.33 billion.

Axie Infinity developer Sky Mavis has announced a 21% layoff of its staff. With a global team size of around 250, this decision will affect around 50 employees.

Ethereum co-founder Vitalik Buterin said in an interview with Tencent News "Qianwang" that OpenAI has now become CloseAI. Today, another problem has emerged: First, they sacrificed their open source for security; then this year, they sacrificed their security for profit. Last year, the company and the board of directors clashed, and after the conflict, it seemed that Sam Altman (OpenAI CEO) won. Recently, they announced that they would change from a non-profit to a for-profit company and reduce the power of the board of directors - it can be said to be reduced to the level of advisors. This makes me more worried. This reminds me of a saying of a founding father in the United States: You cannot sacrifice freedom for security. If you do this, you will find that you will have neither security nor freedom. Looking at OpenAI's behavior, it seems that this has happened.

The head of South Korea’s top financial regulator has “temporarily” dismissed the idea of establishing a national Bitcoin reserve. Kim Byung-hwan, chairman of the Financial Services Commission (FSC), made the remarks in a television interview Nov. 24.