Today's news tips:
Voting begins on Election Day in 2024 US election ; Harris and Trump tied in "midnight voting" in a small town in New Hampshire
Hamster Kombat lost 260 million players in three months, and the number of users dropped by 86%
A British pension fund has officially allocated 3% of its assets to Bitcoin
Paxos stablecoin USDG returns the income generated by reserves to network partners
Bitcoin mining difficulty exceeds 100 T, setting a new record high
Data: 34,371 Bitcoins were transferred out of Mt. Gox address today, worth more than $2.3 billion
Regulatory News
Shanghai Digital RMB Pilot Application Work Deployment Meeting Held
According to the official microblog of Shanghai Finance, in order to implement the general requirements of the Third Plenary Session of the 20th CPC Central Committee on "steadily promoting the development and application of digital RMB", and in accordance with the deployment of the People's Bank of China on the pilot work of digital RMB, Shanghai has formulated a new round of action plan for the pilot application of digital RMB, and held a work deployment meeting on November 4. The action plan clearly states that it is necessary to further steadily promote the application and service innovation of digital RMB, and strive to basically form a digital RMB ecosystem with wide coverage of scenarios, good payment service experience, rich innovative applications, and active participation of all parties by the end of 2025.
According to official news, Grayscale announced that the 19b-4 form of NYSE Arca, Inc. proposed to list and trade the Grayscale Digital Large Cap Fund (GDLC) as an ETP. The form has been published in the U.S. Federal Register, officially starting the review process, which may take up to 240 days. As part of the 19b-4 form submission, NYSE Arca's proposed rule changes are intended to revise the exchange's definition of ETPs that hold commodities and digital assets other than Bitcoin and Ethereum.
As of November 1, 2024, GDLC's assets under management have exceeded US$530 million, of which Bitcoin accounts for 76.53%, Ethereum accounts for 16.92%, Solana accounts for 4.36%, XRP accounts for 1.63%, and Avalanche accounts for 0.56%.
Voting begins on Election Day for the 2024 US presidential election
November 5th, local time, is the official voting day for the US presidential election. Just after midnight on November 5th, Eastern Time, voters in the small town of Dixville Notch, New Hampshire, took the lead in voting, marking the official start of voting for the 60th US presidential election. On that day, the vast majority of polling stations across the United States were open in the morning and remained open until the evening of the 5th. According to data from the University of Florida Election Laboratory, as of the morning of November 4th, local time, more than 78.02 million voters across the United States had voted in advance. The candidates for this year's US presidential election are Democratic candidate and current Vice President Kamala Harris and Republican candidate and former President Donald Trump. The US media generally believes that the 2024 election is the most stalemate presidential election in the United States in recent years.
Musk's 'million-dollar sweepstakes' allowed to go ahead
AI
OpenAI in talks with regulators about becoming a for-profit company
Nvidia in talks to participate in funding round for Musk's startup xAI
Project News
According to official news, NFT trading market OpenSea announced that a new version will be launched in December and registration for the waiting list is now open.
Regarding the discussion about the Linux kernel sparked by the removal of Russian developers, Ethereum co-founder Vitalik Buterin posted on the X platform: "It is very worrying. Open source is the common wealth of mankind and should be a space for free international cooperation. If such behavior becomes normalized, the consequences look very bad."
According to The Block, the Michigan Retirement System disclosed that it holds about $10 million worth of Grayscale's spot Ethereum ETF (ETHE), becoming the first state pension to invest in the product since the ETF went online in July this year. In addition, it also holds about $1.1 million worth of Grayscale Ethereum Mini ETF. The system has previously disclosed holdings of about $7 million in spot Bitcoin ETFs.
A British pension fund has officially allocated 3% of its assets to Bitcoin
According to CoinDesk, the UK's first pension fund has officially allocated 3% of its assets to Bitcoin, becoming the country's first pension fund to directly invest in cryptocurrencies. The investment was guided by pension expert Cartwright, with a total fund asset of 50 million pounds (about 65 million U.S. dollars), rather than holding it through alternative channels such as spot ETFs, and using five independent institutions to distribute private keys to ensure asset security.
Cartwright has also launched a Bitcoin employee benefit plan that allows companies to pay Bitcoin directly to employees' digital wallets. Five companies have expressed interest in the product. Glenn Cameron, Cartwright's head of digital assets, pointed out that the investment was made after a detailed ESG and security assessment, reflecting the trustee's forward-looking recognition of crypto assets.
Paxos stablecoin USDG returns the income generated by reserves to network partners
According to CoinDesk, Paxos has joined forces with crypto giants such as Robinhood, Kraken, and Galaxy Digital to launch a new stablecoin, "Global Dollar" (USDG), with the goal of promoting the widespread use of the stablecoin through profit distribution. USDG is issued by Paxos in Singapore and complies with the requirements of the stablecoin framework to be introduced by the Monetary Authority of Singapore.
The project is called the Global Dollar Network, and its original partners include Anchorage Digital, Bullish, Nuvei, Paxos, etc. Unlike other stablecoins that retain all reserve interest, USDG returns the proceeds generated by the reserves to network partners, incentivizing them to enhance the liquidity and connectivity of the network. DBS Bank will serve as the primary banking partner, responsible for cash management and custody of USDG reserves.
“This is really a community token,” said Charles Cascarilla, CEO of Paxos. “Anyone can join the global dollar network and earn rewards through activity. We distribute about 97% of the economic benefits. This is very different from the way other stablecoins have been built and created to date.”
a16z donates more than $23 million to U.S. crypto industry political activities
Chris Dixon, partner at a16z, said in a post on the X platform: “Today we donated more than $23 million in additional funds to Fairshake and its affiliated political action committees (PACs) for the 2026 midterm election cycle. No matter what happens on Election Day, we take a long-term approach to policy efforts. Contributions to Fairshake are just an important part of achieving our ultimate goal, which is to establish clear laws to regulate the crypto industry while protecting consumers and allowing entrepreneurs to innovate and build with confidence. Many industries come to Washington to ask for regulations to be cut, and we come here to ask for regulations to be established.”
According to Video Games Chronicle, Ubisoft's recently launched NFT role-playing game "Champions Tactics: Grimoria Chronicles" has encountered a major vulnerability. A player has achieved "automatic victory" through unknown means, causing other players to be unable to play ranked matches normally. This player (nicknamed Schilleri11 or Paulstar111) automatically wins every online battle, and the ranking list shows that he has played more than 56,000 games.
Affected players complained on the Discord server that every time they were matched with this player, they would lose the game unconditionally, causing the game to be unable to proceed normally. The game's Discord administrator has stated that the team is aware of the issue and has banned the player, but some players have reported that the account is still active. Ubisoft is working to fix the vulnerability, but the incident has caused strong dissatisfaction among players with the stability of the game.
The official Twitter account of "Champions Tactics" announced that the team has found a solution to the matching issues last weekend and is formulating a compensation plan to give back to players' patience and support.
Swell: SWELL airdrop will be available on November 7
According to Swell's official announcement, $SWELL tokens will be launched soon, and users can claim them through the designated link on November 7.
Hamster Kombat lost 260 million players in three months, and the number of users dropped by 86%
According to Protos, Hamster Kombat, a Telegram “point-to-earn” game that had 300 million users in August, has now seen its monthly active users drop to about 41 million, with more than 260 million players lost. The game’s token HMSTR has plummeted 76% from its high of $0.009993 on September 26 to a current price of only $0.002392.
Although Telegram CEO once called it "the fastest growing digital service in the world", the rough AI graphics and boring gameplay failed to retain players. The game frequently postponed airdrops and implemented a strict anti-cheating system, resulting in 2.3 million users being banned and 6.8 billion HMSTR tokens being confiscated. In addition, Hamster Kombat has also been criticized by the Iranian and Russian governments for its negative impact on society.
Financing News
Standard Chartered crypto custody firm Zodia in talks to raise $50 million
According to Bloomberg, Julian Sawyer, CEO of Standard Chartered Bank's crypto custody company Zodia Custody, said in an interview that the company is seeking $50 million in funding from investors to drive its plans to enter new regions and expand its product range. Sawyer added that although Zodia is currently supported by several wholesale financial companies, it now hopes to attract more different types of investors, including payment and tokenization companies; Architect Partners, a cryptocurrency-focused consulting firm, is assisting in this work that began last month.
According to Bloomberg, technology investment company Coatue Management is seeking to raise $1 billion to increase investment in artificial intelligence and technological innovation. This is the first time the company has raised funds for its flagship fund in several years. It is reported that this round of financing will mainly come from institutional investors, and some funds will be raised through Raymond James and Associates for high-net-worth individual clients. This is also the first time Coatue has raised funds through bank or broker clients since 2017.
Coatue was founded by Philippe Laffont and currently manages approximately $50 billion in assets. Laffont is optimistic about the prospects of artificial intelligence in the long term and expects AI technology to drive demand in the energy and infrastructure sectors in the future. He believes that despite the high valuations of some companies, AI investment opportunities are still huge.
Solidity 2.0 developer Vlayer raises $10 million in pre-seed funding
According to The Block, crypto startup Vlayer has completed a $10 million pre-seed round of financing, with investors including a16z Crypto Startup Accelerator (CSX), Credo Ventures and BlockTower Capital. The company is committed to developing "Solidity 2.0", a new version of Ethereum smart contracts that aims to introduce verifiable data infrastructure.
Vlayer plans to introduce four new features in the Solidity language: time travel (executing contracts based on historical on-chain data), teleportation (running contracts across EVM-compatible networks), web proofs, and email proofs (verifying and integrating web pages and email content). Co-founder and CEO Hubert Rachwalski von Rejchwald said this move will make zero-knowledge proofs (ZK) easier for Solidity developers to use. Vlayer is currently in the public beta stage, and the mainnet and tokens are expected to be launched in 2025.
Mining News
Deutsche Telekom and Bank Metzler to pilot Bitcoin mining infrastructure using surplus energy
According to official news, Deutsche Telekom subsidiary MMS has launched a pilot project in cooperation with Bankhaus Metzler to operate Bitcoin mining infrastructure using surplus energy. Mining will use electricity from renewable energy sources that would otherwise not be used due to insufficient grid input capacity and/or lack of storage options. The pilot project aims to provide effective field data and insights for the planning of subsequent projects.
Bitcoin mining difficulty exceeds 100 T, setting a new record high
According to data from CloverPool (formerly BTC.com), the difficulty of Bitcoin mining has been adjusted at block height 868,896 (2024-11-05 06:28:08), with the mining difficulty increased by 6.24% to 101.65 T. The current average computing power of the entire network is 831.56 EH/s.
Important data
Data: Mt. Gox addresses transferred about $2.2 billion worth of Bitcoin
According to Arkham data, the Mt. Gox cold wallet address (starting with 12Gws) transferred 32,371 bitcoins (worth nearly $2.2 billion) to an unmarked wallet address (1FG2CvCnJAsb48Y1r3R43WwHwFJhXRveoy) at 7:38 today.
Subsequently, Mt. Gox cold wallet address transferred out another 2,000 bitcoins
According to Arkham data, the Mt. Gox cold wallet address (starting with 1Jbez) transferred 2,000 bitcoins (worth approximately $136 million) to an unmarked wallet address (15gNRVceULY553Mx5vw1KgDgr83MCa8Aok) at 8:58 today.
According to a post by The Block's research director @lars0x, most crypto market indicators increased in October, with adjusted total on-chain transaction volume up 28.1% to $420 billion (BTC: +32.1%, ETH: +20.9%). Adjusted stablecoin on-chain transaction volume increased 8% to $899 billion, and issued supply decreased 0.7% to $149.3 billion, of which USDT accounted for 79.5% and USDC accounted for 16.9%:
BTC miner revenue grew 25.4% to $1.02 billion in October, while ETH staker revenue grew 5.8% to $221.5 million. A total of 41,648 ETH were destroyed in October, equivalent to $105 million. Since the implementation of EIP-1559 in early August 2021, a total of 4.43 million ETH have been destroyed, equivalent to $12.5 billion. Monthly NFT market volume on Ethereum grew 26.5% to $121.6 million.
Legal CEX spot volume increased by 16.3% to $843 billion in October, with monthly net flows of +$5.3 billion for all BTC spot ETFs. IBIT net inflows hit a record high of $872 million on October 30. Bitcoin futures open interest increased by 22.9%, and Ethereum futures open interest increased by 14.6%. BTC monthly futures volume increased by 12.1% to $1.25 trillion. CME Bitcoin futures open interest increased by 21.5% to a new high of $12.5 billion (ADV increased by 9.6% to $5.3 billion). Bitcoin options open interest increased by 35.7%, and Ethereum options open interest was flat from last month. BTC monthly options volume increased by 39.8% to $54 billion, and ETH monthly options volume increased by 4.7% to $10.2 billion).
Multiple whales deposited millions of dollars of AAVE tokens into CEX and are suspected of selling
According to Lookonchain monitoring, whales are selling $AAVE. On-chain data shows:
• Address 0x7634 withdrew 25,790 $AAVE (approximately US$3.39 million) from Aave 50 minutes ago and deposited it into MEXC.
• Address 0x790c withdrew 7,822 $AAVE (approximately US$1.04 million) from Aave 3 hours ago and deposited it into Binance.
• Cumberland deposited 10,000 $AAVE (about 1.29 million US dollars) into OKX 6 hours ago.
• Galaxy Digital deposited 7,897 $AAVE (about $1.02 million) to Binance 10 hours ago.
Ethereum spot ETF had a net outflow of $63.22 million yesterday, with a net asset ratio of 2.27%
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