FTX co-founder Gary Wang is exempted from prison by US judge
According to Tree News, citing Reuters, Gary Wang, the former deputy of Sam Bankman-Fried (SBF), was sentenced to avoid imprisonment by a US judge for his role in the FTX crypto fraud case.
Trump team considers creating first White House cryptocurrency position
According to Bloomberg, the team of US President-elect Donald Trump is discussing with the digital asset industry whether to establish a White House position dedicated to cryptocurrency policy. According to people familiar with the matter, this will be the first White House position centered on cryptocurrency, and candidate screening is underway. It is uncertain whether the position will become a senior position or be called the "Crypto Czar", but industry advocates hope that the role will report directly to Trump. In addition, Trump promised during the campaign to fire the current Chairman of the Securities and Exchange Commission (SEC) Gary Gensler, relax crypto industry regulations, and establish a presidential crypto advisory committee. Currently, the candidates for the committee are in fierce competition.
It is reported that former Coinbase and Binance.US executive Brian Brooks and Coinbase CEO Brian Armstrong met with Trump this week to discuss related matters. This position may serve as a bridge between Congress, the White House, and federal agencies such as the SEC and CFTC. More personnel discussions took place at Trump's private club Mar-a-Lago.
South Korea’s financial regulator refuses to approve ETF investing in crypto firms
According to Korea Economic Television, South Korea’s financial regulator has not only banned the issuance of cryptocurrency ETFs for spot and futures products, but also rejected funds that invest in crypto companies, including exchanges. The head of an asset management company said that their proposal to set up a fund to invest in crypto companies was rejected by the country’s Financial Supervisory Service.
He mentioned that his company is preparing to launch an ETF focused on U.S. crypto exchange Coinbase and similar companies, but it is still waiting for approval from local regulators. Meanwhile, an FSS official acknowledged the growing demand for Bitcoin investment, but said that regulations will not be relaxed unless the government's current policies change.
Phantom ranks among the top five free apps in the US App Store, and ranks first in the tool category
Solana Ecosystem Crypto Wallet Phantom ranks fifth in the free app rankings in the US region of Apple App Store and ranks first in the niche tool category.
Bitwise applies to Delaware for registration of Solana-related ETF
Bitwise has filed documents with the Delaware Department of State to register its first Solana-related ETF.
Coinbase to launch FLOKI based on Ethereum network
According to the official announcement of Coinbase, Coinbase will launch support for FLOKI (FLOKI), which is based on the Ethereum network (ERC-20 standard). Trading will start at or after 1:00 am Beijing time on November 22 (9:00 am PT time on November 21).
Hoth Therapeutics Board of Directors Approves Purchase of $1 Million in Bitcoin as Reserve Assets
According to MicroStrategy's official website, MicroStrategy announced the pricing of its $2.6 billion total principal of zero-interest convertible senior notes due in 2029, which is an increase from the previously announced $1.75 billion total principal note issuance. The issuance is expected to be completed on November 21, 2024, subject to customary closing conditions.
The initial conversion rate for the Notes is 1.4872 shares of MicroStrategy Class A common stock per $1,000 principal amount of the Notes, representing an initial conversion price of approximately $672.40 per share. The initial conversion price for the Notes represents a premium of approximately 55% to the U.S. composite volume weighted average price of MicroStrategy Class A common stock between 1:30 p.m. and 4:00 p.m. EST on November 19, 2024, of $433.7997. The conversion rate will be adjusted upon the occurrence of certain events.
MicroStrategy estimates that the net proceeds from the sale of the Notes, after deducting discounts and commissions to the initial purchasers and estimated offering expenses payable by MicroStrategy, will be approximately $2.58 billion (or approximately $2.97 billion if the initial purchasers exercise in full their option to purchase additional Notes). MicroStrategy intends to use the net proceeds from the offering to purchase additional bitcoin and for general corporate purposes.
DWF Labs Launches $20 Million "Meme Fund" to Support Innovative Meme Coin Projects
According to Finance Feeds, DWF Labs announced the launch of a $20 million "Meme Fund" to support innovative Meme coin projects on multiple blockchains. The "Meme Fund" is now accepting proposals from Meme coin projects seeking investment and guidance.
DCG launches new subsidiary Yuma to support and advance the Bittensor network
Digital Currency Group (DCG) announced the establishment of a new subsidiary, Yuma, to support and promote the development of the Bittensor network. DCG founder and CEO Barry Silbert will also serve as Yuma CEO to further promote DCG's integration of encryption and artificial intelligence. Yuma will provide capital, infrastructure and technical support to startups and large enterprises to help them develop and deploy innovative projects on the Bittensor network.
Justin Sun buys Cattelan’s iconic work “The Comedian” for $6.2 million
Justin Sun, founder of TRON, announced that he had successfully bought Maurizio Cattelan's iconic work "Comedian" for $6.2 million. Sun said that this work is a cultural phenomenon that connects art, Internet culture and the crypto community, and he believes that this work will inspire more discussions and become part of history. He also plans to eat the banana himself in the next few days as part of a unique art experience to pay tribute to its important position in art history and popular culture.
Nvidia releases Q3 financial report: revenue reaches $35.1 billion, net profit is $19.31 billion
Nvidia (NVDA.O) announced its third-quarter financial report for fiscal year 2025, with revenue reaching $35.1 billion, a year-on-year increase of 94%, exceeding the market expectation of $33 billion; net profit was $19.31 billion, far exceeding the expected $16.93 billion. In addition, the third-quarter gaming business revenue was $3.3 billion, and the data center business revenue was $30.8 billion, a year-on-year increase of 112%.
Nvidia expects fourth-quarter revenue of $37.5 billion, slightly higher than market expectations, but some investors' expectations were not met, causing the stock price to fall 5% after the earnings report was released. CEO Huang Renxun said that artificial intelligence is driving the growth of global computing demand, the production of Blackwell systems is accelerating, and fourth-quarter deliveries will exceed expectations. The company expects gross profit margin to reach more than 70% in 2025. Despite this, some analysts believe that its revenue outlook is uncertain, especially when Blackwell demand exceeds supply.
According to PR Newswire, the crypto entertainment gaming platform Monkey Tilt announced the completion of a $30 million Series A financing round, which closed this summer, led by Pantera Capital, with participation from Polychain Capital, PokerGo, Hack VC, Dream Ventures, Accomplice, Mirana and Josh Hannah. This latest financing brings the total financing amount to more than $50 million.
According to reports, Monkey Tilt will be launched in early 2024, integrating prediction games, sports, poker and cryptocurrencies on one platform. Monkey Tilt plans to launch a new gamified cryptocurrency trading product in the first quarter of next year.
MicroStrategy's Bitcoin holdings currently have a floating profit of over $14.7 billion
According to Beincrypto, asset management company 21Shares announced a major improvement to its Ethereum Core ETP, which now includes a staking function. With this upgrade, the product has been renamed Ethereum Core Staking ETP to better reflect its expanded functionality. The revised product trading code is ETHC and can be traded on major European exchanges, including the Swiss Stock Exchange, Deutsche Börse Xetra and Euronext Amsterdam.
The company said the move is aimed at making Ethereum staking more accessible to institutional and retail investors across Europe. It offers a novel way to earn returns from Ethereum's staking mechanism while maintaining a low-cost structure. Ethereum Core Staking ETP is backed by physical Ethereum and has a management fee of 0.21%.
Stripe launches B2B payments via stablecoins
Patrick Collison, CEO of US payment giant Stripe, posted on the X platform that Stripe has launched the function of B2B payment through stablecoins. The company's employee @BackseatVC explained that users can now create and send invoices payable in stablecoins on Stripe; when Stripe launched the "Pay with Cryptocurrency" feature last month, one of the strongest functional demands from users was to improve the B2B payment experience; with the support of the invoice function, this demand has now been met.
Earlier news, Stripe launched the "Pay with Crypto" function in the United States, supporting stablecoins including USDC and USDP .
