According to Bloomberg, Howard Lutnick, the Commerce Secretary nominated by U.S. President-elect Donald Trump, is exploring strengthening financial ties with the company that operates the world's largest stablecoin Tether, and plans to launch a $2 billion project to provide dollar loans to customers with Bitcoin as collateral. The report quoted people familiar with the matter as saying that Lutnick's financial services company Cantor Fitzgerald is discussing obtaining Tether's support to help finance the project, which could amount to tens of billions of dollars. Tether reportedly uses Cantor's holdings of billions of dollars worth of U.S. Treasuries to support the value of its stablecoin, and this relationship helps Lutnick's company earn tens of millions of dollars each year.
South Korea’s top regulator dismisses discussion of creating national Bitcoin reserve
According to Cryptonews, 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) of South Korea, made the remarks in a television interview on November 24. Kim Byung-hwan said that Seoul "does not need" to "hoard cryptocurrencies" as promised by US President-elect Donald Trump, and South Korea will wait for other countries to react to Trump's cryptocurrency adoption plan before taking action; our first priority is to study how to better protect (domestic cryptocurrency) investors; the FSC does not believe that BTC and other currencies can bring benefits to the national economy; the regulator will "investigate" this wave of "cryptocurrency fever", "focus on" and "closely monitor" suspected "unfair trading" behavior.
Hong Kong ZhongAn Bank launched a virtual currency trading service on its App today
According to Ming Pao, digital bank ZA Bank announced that it has become the first bank in Asia to provide cryptocurrency trading services to retail users. Starting today, it will provide two virtual currencies, Bitcoin and Ethereum, for trading in Hong Kong dollars and US dollars on the App. After opening an investment account with ZA Bank, Hong Kong residents need to complete risk assessment and other processes before they can buy and sell the two currencies on the app. The entry fee is US$70 or HK$600, and the commission for each transaction is US$1.99 or HK$15. The platform fee is 1.5% of the transaction amount (the minimum fee for each transaction is US$1.99 or HK$15). The bank will waive the commission by the end of June next year, and the platform fee will also be reduced to 0.8% of the transaction amount.
Starknet: Integration phase for STRK staking phase 1 now underway
According to Starknet’s announcement on the X platform, the integration phase of STRK staking phase 1 has now begun. Starknet is deploying the system on the Starknet mainnet and is expected to be completed within a few hours. Starting tomorrow, validators can start integrating with the staking contract. For users (delegators), you need to be more patient; the delegated UI and dApp will be ready on Tuesday, November 26.
Michael Saylor: MicroStrategy's Bitcoin revenue reached $5.4 billion in the past two weeks
According to Cointelegraph's repost of MicroStrategy founder Michael Saylor's interview on the X platform, he said that MicroStrategy's Bitcoin revenue reached US$5.4 billion in the past two weeks, with a daily revenue of about US$500 million.
Later in the day, Michael Saylor wrote another article suggesting that he may continue to increase his holdings of BTC .
Andrew Kang, partner of Mechanism Capital, posted on the X platform in the early morning: "The current decentralized science (DeSci) field feels like the DeFi era in early 2019. Although everything is still in its infancy and very experimental, everyone involved can feel its huge potential. Current projects may not use the same model or products in the future because they are being developed through iterations. Maker, Synthetix, and Aave were also some bulky small-cap projects in 2019, but now they have grown into large protocols. Here are some of the most interesting projects I think: BIO Protocol, Pump Science, GLP1." In addition, Andrew Kang added that he has participated in the latest round of investment in BIO Protocol.
Meme ecosystem KOL Murad wrote on the X platform that the essence of investing in Meme is actually investing in "people". The key is to find a Meme community with the following characteristics: - People who work hard every day - More than 6 months - Withstood multiple declines - The number of holders increases every month - The target amount exceeds 20 billion US dollars - Large distribution + diamond hands.
ai16z: DAO partners have decided that ai16z and AI Combinator will be completely separated
ai16z announced on the X platform that DAO partners have decided to suspend all distracting AI trader shipping matters in order to focus 100% of their energy on $ai16z and $degenai. ai16z and AI Combinator will be completely separated, and we wish Ryze Labs the best progress in accelerating AI agents. ai16z also stated that its technology is open source and can be used by anyone for free, and it will always be the case.
According to Yahoo Finance, Sean Farrell, head of digital asset strategy at Fundstra, said in his latest client report that "friends and family" are starting to ask about cryptocurrencies again. Judging from quantifiable market indicators, the current situation does not show the bubble of the March rebound or the cyclical peak at the end of 2021. For example, the current kimchi premium indicator data in the Korean market is about 0%, indicating that Korean traders lack over-excitement. Normally, if the market reaches its peak, the kimchi premium will soar to more than 10%. The rise in the past week should not be regarded as a purely speculative boom, and Bitcoin may still have room to rise.
CryptoQuant CEO: MSTR Bitcoin holding premium has returned to the level during the 2021 bull market
Ki Young Ju, founder and CEO of CryptoQuant, wrote on the X platform: "The premium of MicroStrategy (MSTR) Bitcoin holdings in the US stock market has returned to the bull market level in 2021. Data shows that the MSTR premium peaked in mid-2021, but never fell below zero in the last bear market. In contrast, GBTC fell to a discount price of -48% in the bear market, and eventually triggered a crisis as leverage was unwound. Michael Saylor knows how to deal with leverage. During the 2022 bear market, he kept MicroStrategy stable and effectively managed BTC's market risks." In addition, Ki Young Ju said, "The bull market in 2021 is the world of cryptocurrency novices, while 2024 is the world of traditional finance and cryptocurrency veterans. This is a different game, and absurd events are much less likely to happen."
Data: Tether has minted more than 15 billion USDT so far in November
According to data disclosed by Cointelegraph on the X platform, stablecoin issuer Tether has minted more than 15 billion USDT since November 2024.
ETH whale donates 70 ETH to Ethereum Meme distribution platform jump.fun
On-chain data shows that a whale holding more than 2,500 ETH has donated 70 ETH to the Ethereum Meme issuance platform jump.fun; as of now, the donation amount of jump.fun has exceeded 738 ETH. jump.fun is an Ethereum-based Meme issuance platform that aims to inject new solutions into the ETH Meme ecosystem through one-click token issuance and initial 6ETH liquidity loans.
- Immutable (IMX) will unlock approximately 24.52 million tokens at 8:00 a.m. Beijing time on November 29, accounting for 1.47% of the current circulation, with a value of approximately US$40.5 million;
- Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 a.m. Beijing time on November 26, accounting for 0.05% of the current circulation, with a value of approximately US$18.9 million;
- ApeX (APEX) will unlock approximately 9.24 million tokens at 8:00 a.m. Beijing time on November 27, accounting for 19.09% of the current circulation, with a value of approximately US$17.8 million;
- Yield Guild Games (YGG) will unlock approximately 14.08 million tokens at 10:00 pm Beijing time on November 27, accounting for 3.65% of the current circulation, with a value of approximately US$8.6 million;
- Ethena (ENA) will unlock approximately 12.86 million tokens at 3:00 pm Beijing time on November 27, accounting for 0.45% of the current circulation, with a value of approximately US$7.8 million;
- SingularityNET (AGIX) will unlock approximately 7.95 million tokens at 8:00 a.m. Beijing time on November 28, accounting for 2.25% of the current circulation, with a value of approximately US$5.1 million;
- Artificial Superintelligence Alliance (FET) will unlock approximately 3.45 million tokens at 8:00 am Beijing time on November 28, accounting for 0.13% of the current circulation, with a value of approximately US$5 million;
- Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3:00 a.m. Beijing time on November 27, accounting for 0.69% of the current circulation, with a value of approximately US$3.5 million;
- Velo (VELO) will unlock approximately 182.8 million tokens at 8:00 a.m. Beijing time on November 28, accounting for 2.47% of the current circulation, with a value of approximately US$3.3 million;
- Hooked Protocol (HOOK) will unlock approximately 4.17 million tokens at 8:00 am Beijing time on November 25, accounting for 2.05% of the current circulation, with a value of approximately US$2.3 million;
- Venom (VENOM) will unlock approximately 33.76 million tokens at 4:00 pm Beijing time on November 25, accounting for 1.79% of the current circulation, with a value of approximately US$2.2 million;
- Crown by Third Time Games (CROWN) will unlock approximately 4.63 million tokens at 8:00 a.m. Beijing time on November 29, accounting for 2.11% of the current circulation and worth approximately US$1.7 million.
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