Today's news tips:
Trump accepts Biden's invitation to meet at the White House to discuss the transfer of power
More than 250 cryptocurrency-supporting candidates were elected to Congress in this US election
MicroStrategy's Bitcoin holdings have generated over $9 billion in profits
Wintermute proposed the “ENA fee conversion” proposal in the Ethena governance forum
Bitcoin spot ETF single-day trading volume reached US$6.07 billion, a record high since March
French regulators are preparing to ban access to crypto prediction platform Polymarket in France
Regulatory News
Trump accepts Biden's invitation to meet at the White House to discuss the transfer of power
According to Jinshi, on November 6 local time, the campaign team of Republican presidential candidate Trump, who had previously announced his victory in the 2024 US presidential election, said that Trump had accepted the invitation of the current President Biden and would meet with him in the White House to discuss the transfer of presidential power. The specific date of the meeting has not yet been announced, but a spokesman for the Trump campaign said that the meeting "will take place soon" and that Trump was "very grateful" for Biden's congratulatory call on the 6th.
Foreign Ministry Spokesperson: Congratulations on Trump's election as US President
SEC files motion seeking expedited ruling in Kraken case
According to Coingape, the U.S. Securities and Exchange Commission (SEC) has filed a motion with the court seeking a quick judgment on the case of the crypto exchange Kraken, focusing on opposing Kraken's "fair notice" and "major issues principle" defenses. The SEC's move is intended to limit further scrutiny of its crypto policies and avoid excessive questioning of its regulatory approach.
French regulators are preparing to ban access to crypto prediction platform Polymarket in France
The French gambling regulator (ANJ) is preparing to ban access to the crypto prediction platform Polymarket in France. Polymarket allows users to bet on the probability of various events with cryptocurrencies, especially during the US presidential election, attracting a large amount of trading volume, with a single-day trading volume of $294 million on November 5, and a total bet of more than $3.2 billion.
Sources pointed out that although Polymarket uses cryptocurrencies to operate, its essence is still a gambling activity, which is considered illegal under French law. ANJ has stated that it is reviewing the compliance of the platform and plans to restrict its access in France through domain name blocking and other means. However, since Polymarket only requires an encrypted wallet to register, users can bypass the blockade through VPN.
More than 250 candidates supporting cryptocurrency were elected in this election
According to Fox Business, more than 250 candidates who support cryptocurrency were elected to the U.S. Congress (members of Congress) in this (2024 U.S. general election).
Project News
According to CoinDesk, JPMorgan Chase renamed its blockchain platform Onyx to Kinexys, aiming to strengthen its business layout in the field of blockchain and asset tokenization. Kinexys plans to introduce on-chain foreign exchange settlement functions in the first quarter of 2025, initially supporting 24/7 automated multi-currency clearing and settlement services for US dollars and euros, and will expand to other currencies in the future.
Blockchain data company Arkham announced on the X platform that the crypto derivatives exchange ARKHAM PERPETUALS EXCHANGE has opened registration and trading is scheduled to start in one week. Arkham said that registration qualifications vary by jurisdiction. Users living in certain jurisdictions (including the United States) will be excluded from access.
Indian Crypto Exchange WazirX Plans to Launch a Decentralized Exchange and DEX-related Tokens
Nischal Shetty, founder of Indian crypto exchange WazirX, announced that the company plans to launch a decentralized exchange (DEX) in response to the hacking incident in July. Shetty said that the new DEX will allow users to self-custody their assets, eliminating the counterparty risk inherent in centralized platforms. In addition, WazirX also plans to launch DEX-related tokens to pay platform fees and governance. Shetty emphasized that the self-custody feature of DEX will give users full control over their assets and the ability to trade freely.
According to The Block, the Avalanche Foundation has obtained court approval to repurchase 1.97 million AVAX tokens purchased from the bankrupt Luna Foundation Guard (LFG), worth approximately $52 million. The transaction marks the official end of Avalanche's relationship with the defunct Terra blockchain project.
According to the official announcement, Binance Finance, One-Click Coin Purchase, Flash Exchange Trading Platform, Leverage, Fixed Investment Platform and Binance Contracts will launch Cow Protocol (COW) and Cetus Protocol (CETUS) according to the timeline listed below.
Binance to Launch SOLUSDT Daily and Weekly Options on November 12
Binance Options will launch SOLUSDT daily and weekly options at 16:00 (ET) on November 12, 2024. SOLUSDT daily and weekly options are European-style options contracts.
Binance Futures will launch 1,000,000 MOG 1-75x USDT perpetual contracts
According to the official announcement, Binance Futures will launch 1,000,000 MOGUSDT perpetual contracts at 20:30 on November 7, 2024 (Eastern Time Zone 8), with a maximum leverage of 75 times.
Last night, CCTV-2 (CCTV Financial Channel) Economic Information Network reported that "Bitcoin prices soared to a record high, reaching $75,000 at one point, an increase of more than 8%." It also reported that Trump had previously promised to make the United States the world's Bitcoin and cryptocurrency capital and establish a strategic Bitcoin reserve.
US Senator Lummis: We will establish a strategic Bitcoin reserve
U.S. Senator Cynthia Lummis of Wyoming announced on the X platform: We will establish a strategic Bitcoin reserve.
SushiSwap Launches Linearly Vested Memecoin Distribution Platform Vesting Launch
According to SushiSwap official news, Sushi launched the first "Vesting Launch" function on the Dojo platform, which allows users to purchase new tokens within 24 hours after they are created, and release the purchased tokens linearly on the first day to prevent "rush buying" and "pump and dump" behaviors from undermining market fairness. After users purchase tokens, the balance will be gradually released to prevent speculative behavior from affecting token performance. After 24 hours, token transactions are no longer restricted and can be traded normally on the platform.
Swell Network has opened SWELL token airdrops
According to official news, the re-staking agreement Swell Network announced that the SWELL token airdrop application is now open.
JPMorgan: Bitcoin will benefit from Trump's presidency and MicroStrategy's plans
According to The Block, according to JPMorgan analysts, as Donald Trump wins the US presidential election, both gold and Bitcoin are expected to perform well, and they particularly emphasize the concept of "depreciation trading". "Depreciation trading" refers to an investment strategy that benefits from currency depreciation or weakening, which is usually caused by inflation or expansionary fiscal policy. In this transaction, investors buy assets such as gold and Bitcoin, which are regarded as a means of storing value and can maintain their value even if the purchasing power of the currency declines. JPMorgan analysts pointed out that retail investors are also supporting gold and Bitcoin. Since last summer, investment in gold and Bitcoin ETFs has increased, and this trend will continue until 2025. Trump's policies may also support these two assets. In addition, analysts mentioned an aggressive Bitcoin acquisition plan announced by MicroStrategy through its "21/21 Plan", saying that Bitcoin is expected to get a further boost. The plan involves raising $42 billion in funds over the next three years, half of which ($21 billion) will come from equity and the other half ($21 billion) will come from fixed income securities. Analysts say MicroStrategy will invest $10 billion in Bitcoin in 2025 alone, roughly equivalent to its cumulative purchases since mid-2020.
Last night, CCTV-2 (CCTV Financial Channel) Economic Information Network reported that "Bitcoin prices soared to a record high, reaching $75,000 at one point, an increase of more than 8%." It also reported that Trump had previously promised to make the United States the world's Bitcoin and cryptocurrency capital and establish a strategic Bitcoin reserve.
Wintermute proposed the “ENA fee conversion” proposal in the Ethena governance forum
Wintermute proposed the “ENA Fee Conversion ” proposal in the Ethena Governance Forum, suggesting that a portion of the protocol revenue be approved to flow to sENA and provide clear parameters for future implementation.
Blockchain data company Arkham announced on the X platform that the crypto derivatives exchange ARKHAM PERPETUALS EXCHANGE has opened registration and trading is scheduled to start in one week. Arkham said that registration qualifications vary by jurisdiction. Users living in certain jurisdictions (including the United States) will be excluded from access.
According to The Information, bankers from several top Wall Street investment banks, including JPMorgan Chase, Goldman Sachs and Morgan Stanley, have been meeting with executives from the cryptocurrency industry, hoping to get a piece of the lucrative initial public offerings (IPOs) of cryptocurrency companies that could take place after the election, according to industry insiders.
The new enthusiasm reflects optimism that an improving market and regulatory environment following Donald Trump’s victory in the U.S. presidential election could pave the way for companies such as Kraken, Fireblocks and Chainalysis to go public. Bankers’ appetite for meetings is also a departure from much of the past two years, when many investment banks viewed working with cryptocurrency companies as too risky and shied away from doing business, advisers said.
Starknet Update Roadmap: Short-term focus has shifted to reducing fees
Ethereum Layer 2 network Starknet released its latest roadmap and said that as Ethereum blob demand has steadily risen to significant levels, the project's short-term focus has shifted back to reducing fees. According to the roadmap, Starknet plans to launch Phase 1 of STRK staking in November this year, which will further advance its decentralization process, unlock new use cases for STRK tokens, and expand new business use cases on Starknet. Secondly, Starknet plans to implement "stateless compression" and "squash-pricing" in version v0.13.3 in December this year to reduce network fees. Next, Starknet plans to implement "stateful compression" in version v0.13.4 in February 2025 to continue to reduce fees. It will improve devX by supporting try/catch mode and introduce L2 gas as a protocol-level resource to encapsulate all L2 native computing, storage, and bandwidth without coupling with the L1 resource market. In addition, Starknet plans to implement 2-second blocks, memory pools, fee markets, and other pending features in version v0.14.0 in April 2025.
WazirX launches recovery token for outstanding debt repayment in response to July attack
According to the official announcement, Indian crypto exchange WazirX announced that it will launch recovery tokens for outstanding debt repayment. The tokens will be airdropped according to the balance ratio of creditors on the platform: 1. Future platform profits; 2. New business opportunities; 3. Third-party illiquid asset realization; 4. Stolen asset recovery; 5. Funds from white knight proposals (usually refers to a third party willing to acquire or invest in a troubled company at a high price to help it out of trouble). The main use cases of recovery tokens include: 1. Buyback, that is, enhancing creditor asset recovery through buyback and capturing market opportunities; 2. Additional liquidity, that is, according to the wishes of creditors, tokens can be traded in the open market, obtaining funds in advance, providing flexibility and immediate value. Earlier in July, it was reported that WazirX was hacked and the loss exceeded US$230 million.
According to Cailianshe, the preliminary exploratory work of the Multilateral Central Bank Digital Currency Bridge project has been completed. The Multilateral Central Bank Digital Currency Bridge Steering Committee announced today that the next step of the Currency Bridge project will be fully taken over by the participating central banks and monetary authorities for continuous development and operation.
Financing News
AI search company Perplexity is raising $500 million at a $9 billion valuation
According to Reuters, AI search startup Perplexity is raising a new round of financing at a valuation of $9 billion. This round of financing is expected to raise $500 million, led by Institutional Venture Partners (IVP), which has a seat on Perplexity's board of directors. In January this year, Perplexity completed a $73 million Series B financing, with a valuation of approximately $520 million, also led by IVP.
Important data
Bitcoin spot ETF single-day trading volume reached US$6.07 billion, a record high since March
According to SoSoValue data, on November 6, Eastern Time, the total daily trading volume of Bitcoin spot ETFs reached US$6.07 billion, setting a new high since March 15 this year. Among them, the daily trading volume of BlackRock ETF IBIT reached US$4.14 billion, setting a record high for the product.
Data: Bitcoin spot ETFs had a total net inflow of $622 million yesterday
Data: Ethereum spot ETF had a total net inflow of US$52.2884 million yesterday
Pump.fun hits record monthly revenue of $30.5 million in October
According to The Block, driven by the AI concept and meme coin craze, Pump.fun hit a new monthly revenue record of $30.5 million in October, up 111% from the previous month and surpassing the highest record of $28.64 million set in July. This growth reversed the previous trend of an average decline of 29% for two consecutive months.
Pump.fun transferred another 36,400 SOL to the Kraken exchange 8 hours ago
According to on-chain analyst Yu Jin, Pump.fun transferred 36,400 SOL (about 6.75 million USD) to Kraken exchange 8 hours ago. This is its first large transfer in 5 days. However, despite the frequent cashing out, Pump.fun's revenue growth is still rapid: the fee income in the past 5 days has reached 48,100 SOL.
Data shows that Pump.fun has received a total of 1.14 million SOL in transaction fees so far, of which about 745,400 SOL (about US$118.68 million) has been gradually sold at an average price of US$159 per coin.
Coingecko data shows that the total market value of Pump.fun's ecological tokens is close to US$3 billion, currently at US$2.98 billion, with a 24-hour increase of 22.7%.
Musk's wealth increased by $20.9 billion, firmly maintaining his position as the world's richest man
According to Jinshi, Tesla (TSLA.O) closed up 14.75% on Wednesday in the US after Trump, who was supported by Musk, won the US presidential election. According to the Forbes Rich List, Tesla's surge has increased the net worth of the company's founder and CEO Musk by $20.9 billion in a single day, bringing his total assets to $285.6 billion, far exceeding Jeff Bezos, who ranks second on the world's richest list.
Musk just said on the X platform: "The government is about to undergo a thorough reform to end the bureaucracy that hinders development, crazy deficit spending, and return personal freedom to the people."
According to Bloomberg, as Trump won re-election, the wealth of the rich in the United States and the world surged, and the net worth of the world's top ten richest people increased by a record $63.5 billion in a single day. Tesla CEO Elon Musk's wealth increased by $26.5 billion, and Amazon founder Bezos and Oracle Chairman Larry Ellison were also major beneficiaries. This is the largest single-day increase in the Bloomberg Billionaires Index since its establishment in 2012.
Trump's victory has boosted U.S. stocks, with the S&P 500 index up 2.5%, its best performance since the election. The market is betting that Trump will implement low taxes and loose regulatory policies, driving up U.S. financial assets, especially stocks and the dollar. In addition, the net assets of crypto tycoons such as Coinbase CEO Brian Armstrong and Binance founder Zhao Changpeng have also risen sharply, with Zhao Changpeng's wealth increasing to $52.7 billion.
MicroStrategy's Bitcoin holdings have generated over $9 billion in profits
At the current price of Bitcoin at $75,129.5, MicroStrategy's Bitcoin holdings have a floating profit of over $9 billion. According to previous news, as of September 19, 2024, MicroStrategy holds a total of 252,220 Bitcoins, with a total purchase cost of approximately $9.9 billion and an average price of approximately $39,266.
Bitcoin hits new high again, global cryptocurrency market value exceeds $2.6 trillion
According to Coingecko data, Bitcoin hit a new record high, reaching $76,388 today, pushing the global cryptocurrency market value to over $2.6 trillion, of which Bitcoin's market value was $1.495 trillion. It is worth noting that the global cryptocurrency market value has not yet reached its peak of over $3 trillion in November 2021.
Tether Treasury injected 1.845 billion USDT into exchanges in the past 12 hours
Spot On Chain monitoring shows that Tether Treasury has injected 1.845 billion USDT into CEX exchanges through the Ethereum chain in the past 12 hours, of which $1.706 billion went to Binance, $101.7 million went to Coinbase, $20 million went to OKX, and $17.86 million went to Kraken. This injection came after Tether Treasury minted 2 billion USDT on Ethereum and destroyed 1 billion USDT on Tron last night.
According to incomplete statistics from OKG Research, during the US election, the trading volume and number of active users on the Polymarket platform increased significantly, but the average betting size of users decreased. Data shows that more than 85% of users bet less than $500, and more than 40% of users bet less than $50, reflecting that the platform is attracting more users with lower financial ability or risk tolerance.
In addition, as the election results were announced, nearly 70 accounts on Polymarket made profits of more than one million US dollars, more than 10 times the previous number, of which three accounts made profits of more than 10 million US dollars. However, the overall return rate was relatively moderate, with only about 12% of the accounts achieving positive profits.
Bitcoin surged 12% against gold on Wednesday, its biggest one-day gain since February 28, 2022
According to CoinDesk, TradingView data shows that after the pro-cryptocurrency Republican candidate Trump won the US presidential election, the exchange rate of Bitcoin to gold (the ratio between the price of Bitcoin and the price of gold per ounce) soared 12% on Wednesday, the largest single-day increase since February 28, 2022. More importantly, the surge in the ratio confirmed the end of the eight-month downtrend, which was determined by the trendline connecting the March and June highs. This breakthrough suggests that Bitcoin's performance relative to gold will improve again, partly because investors are reallocating funds from gold to Bitcoin. Noelle Acheson, author of the "Crypto Is Macro Now" newsletter, said: "By analyzing the Bitcoin-to-gold ratio, we can see that the downward trend that has shown better performance of gold since March is beginning to reverse. Globally, investors will pay more and more attention to opportunities to hedge against currency depreciation and take advantage of the Trump market, both of which are beneficial to Bitcoin."
A whale bought another 1,225 bitcoins 4 hours ago, worth about $92 million
According to Lookonchain, a whale bought another 1,225 bitcoins worth about $92 million four hours ago. In the past week, the whale has bought a total of 1,775 bitcoins worth about $131 million.
A new address withdrew 671.74 BTC from Binance, equivalent to approximately $50.44 million
According to Onchain Lens monitoring, more than half an hour ago, a new address withdrew 671.74 BTC from Binance, equivalent to approximately US$50.44 million.
Ethereum IC0: Ancient whale with 150,000 ETH suspected to sell 15,000 ETH, worth $39.38 million
According to the monitoring of on-chain analyst @ai_9684xtpa, the ancient whale with 150,000 ETH in Ethereum IC0 is suspected to sell 15,000 ETH, worth $39.38 million. Since September 22, 2024, a total of 65,000 ETH has been sold, about $164 million. 20 minutes ago, another coin holding address of the ancient whale recharged 15,000 ETH to Kraken; the whale currently still holds 10,000 ETH (about $26.21 million).
French trader on Polymarket could make more than $48.5 million betting on Trump's victory
According to DL News, French trader Théo had made a large bet on Polymarket that Trump would win a second term, and according to the platform’s data, he was expected to earn at least $48.5 million from the bet.
PANews APP has updated its functions, download and experience it now!
【Comment】Speak freely and exchange views
【Floating window】Reading interrupted, return at any time
【Search within the article】Quickly locate and get to the core
