According to Jinshi, on November 23rd, local time, US President-elect Trump announced the nomination of Brooke Rollins as Secretary of Agriculture. So far, all the cabinet ministers of Trump's new administration have been confirmed. In addition, Trump has nominated several high-level officials in the past few weeks. Judging from the list of the new government, in addition to Musk, Howard Lutnick and other well-known names in the crypto market, many cabinet officials are firm supporters of cryptocurrencies and have publicly disclosed their cryptocurrency holdings, including the nominated vice president, secretary of the treasury, secretary of commerce, secretary of health and human services, director of national intelligence, etc.
Trump team considers former SEC commissioner Paul Atkins to replace Gary Gensler
According to Bloomberg, people familiar with the matter revealed that President-elect Donald Trump's transition team has interviewed Paul Atkins, a senior financial regulator and behind-the-scenes think tank in the conservative financial community, as a candidate for the chairman of the U.S. Securities and Exchange Commission. People familiar with the matter said that Atkins is one of the strongest contenders to replace the outgoing SEC Chairman Gary Gensler. Trump is expected to make a choice in the next few days, but has not yet made a decision. According to previous news, Atkins is not only proficient in cryptocurrency technology, but also has a deep understanding of the internal operations of the SEC. He has served as a commissioner and staff member of two SEC chairmen, Richard C. Breeden and Arthur Levitt.
Former CFTC Chairman Supports Establishing U.S. Bitcoin Reserve, Says It “Makes a Lot of Sense”
The former chairman of the U.S. Commodity Futures Trading Commission (CFTC) said that establishing a U.S. Bitcoin reserve "makes a lot of sense." He emphasized that Bitcoin is "the world's first digital commodity."
Vancouver Mayor Plans to Launch “Bitcoin Friendly City” Initiative
According to Cointelegraph, Ken Sim, the mayor of Vancouver, Canada, announced that the city plans to include Bitcoin in its balance sheet as part of its investment diversification efforts. At the Vancouver City Council meeting on November 26, Sim submitted a motion notice he intends to propose on December 11, titled "Maintaining the city's purchasing power through diversification of financial resources: creating a Bitcoin-friendly city." As of November 27, the motion does not appear to have been published on the city government's website.
a16z general partner Sriram Krishnan announces he will leave the company at the end of the year
a16z general partner Sriram Krishnan announced on the X platform: "After working at a16z for 4 years, I will leave the company at the end of the year. I will talk about my future plans later, and I will share more information in the next few months." In addition, according to The Information, Krishnan has discussed with Elon Musk about joining the government efficiency department he heads.
Celsius to Make Second Distribution of $127 Million to Eligible Creditors
According to Beincrypto, Celsius is preparing to distribute a second round of $127 million from its litigation recovery account to eligible creditors. Funds will be distributed in the form of Bitcoin, Ethereum or US dollars according to eligibility. According to the latest bankruptcy court documents, after deducting fees and expenses, the litigation administrator allocated approximately $127 million for this round of payments. The funds will be distributed to "post-effective date debtors" among Celsius creditors who have the right to recover non-current assets under the company's bankruptcy plan. A portion of the funds specified in the plan will be retained as reserves. It is worth noting that creditors who wish to receive distributions in the form of BTC or ETH must have an active Coinbase account, and the account information must be consistent with the information recorded by Celsius. Celsius said on X: "According to the Coinbase agreement, non-corporate creditors who have not received Celsius distributions through Coinbase after November 9, 2024 will automatically be transferred to the US dollar distribution partner for processing."
Rushi Manche, co-founder of Movement Labs, publicly accused the Scroll team of many problems on the X platform, including: 1. After years of community, it launched a predatory incentive plan, which ultimately passed the burden on to ordinary investors. 2. The team has been selling secondary market share for several years before going online. 3. The rest of the team was forced to buy at a valuation of $1.8 billion, while senior leaders sold at the same time. 4. The Scroll team directly distributed the airdrop to their own wallets and then cashed out. 5. The most predatory token economic model was designed with the goal of harming every community member. Manche accused the Scroll team of damaging the reputation of the EVM L2 ecosystem and called on it to make improvements to avoid "making it look like a complete scam."
The Aave community initiated the ARFC proposal of "Establishing a Strategic Partnership with Instadapp by Investing in INST Tokens". The proposal includes Aave DAO establishing a strategic partnership with the multi-chain DeFi management protocol Instadapp by investing $4 million in INST tokens at a fully diluted valuation (FDV) of $350 million, aiming to strengthen cooperation and coordination between the two protocols. Aave DAO will allocate up to 1/3 of INST tokens to support the GHO trading pair on Fluid through Merit. DAO will also provide support and promotion for Instadapp products that utilize the Aave protocol (including GHO and Fluid integration). The remaining tokens will be set with a one-year vesting period and authorized to the Aave Protocol Embassy.
SlowMist: Attackers exploited XSS vulnerability on Cointelegraph website to conduct phishing
Yu Xian, the founder of SlowMist, disclosed an XSS attack on the crypto industry on the X platform. The attacker exploited the XSS vulnerability of the crypto media Cointelegraph website to trick the target user into opening the link to the Cointelegraph official website (with an XSS malicious script). As a result, the malicious script was loaded and executed; the address bar was set to a suspicious address (I thought it was an unreleased draft); then a fake Sign in with X box popped up; after clicking Sign in with X, the third-party application authorization of X was opened, and a large blank was left in the permission list. If you didn't notice and clicked on the authorization, your X-related permissions would be taken over by the attacker. This kind of phishing with a little vulnerability exploitation is even more difficult for the general public to guard against, so you need to pay more attention.
Coinbase: Pepe (PEPE) has been launched for users in New York State
According to the Coinbase Assets announcement, Pepe (PEPE) is now open to users in New York State. Users can buy, sell, convert, send, receive or store PEPE assets through the Coinbase official website and its iOS and Android applications. Coinbase obtained a virtual currency business license issued by the New York State Department of Financial Services (NYDFS) on January 17, 2017 to ensure compliance operations. In addition, NYDFS also approved Coinbase to establish Coinbase Custody Trust Company LLC in 2018. However, due to failure to comply with the Bank Secrecy Act and the Anti-Money Laundering Program (BSA/AML Program) as well as transaction monitoring and network security programs, Coinbase reached a $100 million settlement agreement with NYDFS in 2023.
SOS Ltd., a Chinese company listed on the New York Stock Exchange, announced that its board of directors has approved a plan to invest $50 million to purchase Bitcoin (BTC) in order to strengthen its blockchain industry layout. SOS said that the plan not only reflects its long-term confidence in Bitcoin as a strategic reserve asset, but also hopes to optimize its investment portfolio and enhance the company's competitiveness in the field of digital assets. SOS will adopt a diversified quantitative trading strategy, including investment, trading and arbitrage, to reduce market volatility risks and achieve stable returns. SOS has a market value of approximately $9.16 million. After opening today, it may have been affected by this news and soared 47.19%.
Tether announced that it will stop supporting its euro stablecoin EUR₮ and will stop processing new minting requests in 2022. This decision is based on the increasingly complex regulatory environment in the European stablecoin market. At the same time, Tether will give priority to supporting new projects, such as the new stablecoins EURQ and USDQ launched in cooperation with Quantoz Payments in compliance with MiCAR regulations. Tether will also provide efficient and compliant support for the issuance of assets, including stablecoins, through its technology platform Hadron. Existing EUR₮ users must complete the redemption operation before November 27, 2025.
Binance to Launch MORPHO and CHILLGUY USDT Perpetual Contracts
Binance Futures will launch perpetual contracts with a maximum leverage of 75x at the following times: November 27, 2024, 22:30 (ET8): MORPHOUSDT perpetual contract; November 27, 2024, 22:45 (ET8): CHILLGUYUSDT perpetual contract.
Clanker Co-creation: After the Clanker contract upgrade, users can receive a 40% fee share
According to Clanker co-founder proxystudio.eth, the team is upgrading the contract to allow users to directly receive a 40% fee share (including ETH and tokens). MetaMask co-founder Dan Finlay previously stated that the Meme coin CONSENT has been tested on the Base and Solana chains. Data shows that the market value on the Solana chain is $2.8 million and on the Base chain is $2 million. Clanker is an AI-driven token deployment tool that allows users to submit token ideas through Farcaster clients such as Warpcast and quickly launch tokens on the Base chain. Related reading: Clanker: "Pump.fun" on the Base chain
Hyperliquid reminds users to accept the Genesis Event terms as soon as possible
According to the Hyper Foundation announcement, users who have recently started using Hyperliquid L1 and those who have missed it before must review and accept the Genesis Event terms and conditions before 23:59 UTC on November 28 (07:59 Beijing time on November 29). Failure to complete on time may affect the eligibility to participate in the event, so please act in time.
According to an official announcement, Bitcoin mining company MARA Holdings, Inc announced that it has acquired an additional 703 Bitcoins through the issuance of $1 billion in zero-interest convertible senior notes, bringing the total amount of Bitcoin purchased through this batch of senior notes issuance to 6,474, with an average price of $95,395 per Bitcoin. The yield per Bitcoin from the beginning of the year to date is 36.7%. The company currently holds a total of approximately 34,794 Bitcoins, with a total value of approximately $3.3 billion based on the current Bitcoin spot price of $95,000. MARA has repurchased part of the $200 million worth of bonds due in 2026; after deducting transaction costs, the remaining proceeds are approximately $160 million, which can be used for future purchases when the price of Bitcoin falls.
Tether-backed Northern Data receives acquisition offer for its crypto mining unit
Northern Data AG is close to a deal to sell its cryptocurrency mining business, Bloomberg reported, as the company looks to capitalize on the November bitcoin rally. Northern Data Chief Financial Officer Elliot Jordan said the company has hired bankers, invited bidders to make offers, and is currently reviewing proposals. "It's best described as 'in progress,' and we're receiving offers from multiple different parties, and it's going well," Jordan said in a speech at the German Equity Forum on Wednesday. Jordan said Northern Data did not value the business, but it was reportedly valued at $300 million to $500 million before bitcoin's rally. "Obviously, now is the best time to sell this business," he told investors. Northern Data, whose major shareholder is stablecoin issuer Tether, is seeking to free up funds to expand its artificial intelligence services business. This is a shift that many mining companies are exploring after the April bitcoin software update, which halved its main source of revenue. Earlier in October, it was reported that Northern Data planned to sell its crypto mining division Peak Mining.
Stablecoin trading volume surges to $1.8 trillion so far in November
According to CCData's November 27 report, as of November 25, the monthly stablecoin trading volume has increased sharply by 77.5% to $1.81 trillion. This growth puts the monthly trading volume of centralized exchanges on track to hit a new annual high. The total market value of stablecoins continued its 14-month upward trend, increasing by 9.94% in November to $190 billion, exceeding the historical high of $188 billion before the collapse of Terra's TerraUSD algorithmic stablecoin in April 2022. Despite the growth, the market share of stablecoins fell from 7.22% in October to 5.54% as investors and traders increased their diversified investments in Bitcoin and altcoins. USDT continued to show strong performance, with its market value increasing by 10.5% to $133 billion. USDT accounts for 69.9% of the overall market, followed by Circle's USDC, whose market value increased by 12.1% in November to $38.9 billion, the highest level since February 2023. Ethena Labs’ USDe also showed momentum, with its market cap increasing by 42.2% to $3.86 billion.
According to Lookonchain monitoring, Arthur Hayes has transferred his ATH holdings to ENA. In the past two days, Arthur Hayes has accumulated 16.79 million ENA (about 11.21 million US dollars).
