Trump Seeks Crypto-friendly Candidates for Financial Institutions
According to Jinshi, citing the Washington Post, US President-elect Trump is preparing for the US government to take a more relaxed stance on cryptocurrencies. He is looking for candidates for key positions that are friendly to the crypto industry, while his senior advisers are consulting crypto executives on potential changes in federal policies. Initial discussions focused on a range of financial regulators, including the U.S. Securities and Exchange Commission. According to five people familiar with the matter, Trump advisers considered letting current regulators, former federal officials and financial industry executives take important leadership positions, many of whom have publicly expressed support for cryptocurrencies. They warned that the discussion process is still in its early stages and the list of candidates is still changing.
Musk plays key role in shaping Trump's future team
According to Jinshi, ABC reported, citing multiple unnamed sources, that billionaire Elon Musk has become one of the key figures in the formation of Trump's future government. It is reported that Musk has appeared at Mar-a-Lago almost every day since the last election, which has a direct impact on Trump's personnel decisions and strategies for his second term. Sources said he participated in two calls between Trump and foreign leaders. When talking with Zelensky Zelensky, Trump even handed his phone to Musk and asked Musk to discuss the situation with the Ukrainian leader in person. Musk also participated in a call with Turkish President Erdogan. In addition, according to the Associated Press, people familiar with the matter revealed that Musk's Super PAC spent about $200 million to help Trump's campaign for the US presidency.
Earlier news said Musk's net worth rose to $320 billion, a single-day increase of $16.2 billion.
Agency: US Republicans take control of the House of Representatives
According to Jinshi.com, election forecasting agency DECISION DESK HQ predicts that the Republican Party will take control of the House of Representatives. Currently, it predicts that the Republican Party has won 218 seats in the House of Representatives, becoming the majority party in the House of Representatives; the Democratic Party currently has 209 seats. According to previous predictions by multiple media, the Republican Party has already gained control of the Senate.
MicroStrategy spends $2.03 billion to buy 27,200 Bitcoins
According to MicroStrategy's announcement, the company purchased 27,200 bitcoins between October 31 and November 10, spending approximately $2.03 billion, with an average purchase price of approximately $74,463 per bitcoin. Currently, MicroStrategy's total holdings have reached 279,420 bitcoins, with a total purchase cost of approximately $11.9 billion and an average price of approximately $42,692 per bitcoin. The funds for this purchase came from the $2.03 billion raised by the company through ATM stock sales activities. MicroStrategy's Bitcoin year-to-date return (BTC Yield) has reached 26.4%, and the quarterly return is 7.3%.
Later in the day, it was reported that MicroStrategy's stock price broke through $350 after hours, setting a new all-time high ; MicroStrategy's Bitcoin holdings currently have a floating profit of approximately $12.9 billion .
Polymer Launches Polymer Hub, a Real-Time Interoperability Protocol for Ethereum Rollups
According to The Block, blockchain infrastructure company Polymer Labs has officially launched the real-time interoperability protocol Polymer Hub on the Ethereum mainnet, aiming to achieve seamless cross-chain communication between Ethereum Rollups. Polymer Hub initially supports the OP Stack ecosystem, including OP Mainnet, World Chain, and the Base network incubated by Coinbase, and plans to expand to other Ethereum Rollup ecosystems. Based on the IBC protocol developed by Cosmos, Polymer Hub achieves more efficient cross-chain speed and cost optimization by reducing the overhead of cross-chain communication. It uses a pre-confirmation mechanism and EigenDA technology to support data-intensive on-chain use cases, and provides reorganization protection to complete cross-chain transaction settlement at millisecond speeds to ensure transaction security.
Vitalik: Blob has "entered price discovery", with an average daily total fee of 10 ETH
Ethereum co-founder Vitalik Buterin wrote on Warpcast that Blob has quietly "entered price discovery" and that total fees seem to be averaging about 10 ETH per day recently.
Split Capital proposes “BLUR Fee Conversion and veBLUR Token Economics”
Split Capital proposed the "BLUR Fee Conversion and veBLUR Token Economics" proposal in the Blur Governance Forum, which aims to add a framework for increasing protocol fees and re-flowing fees into vote-locked BLUR (veBLUR) tokens. Currently, the Blur NFT Marketplace Protocol has been implementing a 0% market fee while enforcing a 0.5% creator royalty. It is proposed to remove the enforced creator royalty and add a 0.5% protocol fee to each transaction. It is also proposed to form a fee committee that can change the protocol rate so that it can be quickly adjusted based on market conditions and the competitive landscape. Split Capital proposes to change the BLUR token economics to use two tokens, BLUR and veBLUR, to manage Blur's utility and governance, similar to Aerodrome. It is also proposed to add 1% of the total supply (30 million BLUR) as rewards to the current Season 4, which will be distributed to Blur users based on their total points at the end of the season. veBLUR is used for governance. BLUR holders will be able to vote to escrow their tokens and exchange veBLUR. Other tokens can be added to the veBLUR NFT at any time. The lock-up period (also known as the voting escrow period) can be up to 4 years. The longer the vesting period, the higher the voting rights of the underlying locked balance.
Coinbase shares have risen 75% in the past five trading days since the U.S. presidential election
According to The Block, the market has continued to rise since Trump won the US presidential election, and the stock price of the crypto exchange Coinbase has performed particularly well in the past week. Coinbase shares closed up 19.7% on Monday at $324.24, the highest closing price since November 19, 2021. Previously, on November 9, the stock hit a record closing high of $357.39, and the intraday high reached $368.90. Coinbase shares have risen 75% in the past five trading days, and before that, the stock traded between $150 and $280 for most of the time. Earlier on Monday, Bloomberg ETF analyst Eric Balchunas wrote on the X platform: "The Bitcoin craze has also swept the stock market. Coinbase and Microstrategy are among the top five stocks in today's trading volume. This is a scene I have never seen. Only Tesla and Nvidia have higher trading volumes than them. This feels like a frenzy, at least for now."
OpenAI CEO: I am optimistic about the bright future of cryptocurrency
OpenAI CEO Sam Altman posted on the X platform: "World (also known as Worldcoin) has made amazing progress in the past year. I am very proud of the team, especially Alex Blania's leadership, and the combination of vision and execution. More generally, I am optimistic about the bright future of cryptocurrency."
Tether minted 2 billion authorized but unissued USDT on the Ethereum network in the early morning
According to Whale Alert, around 01:07 am Beijing time, Tether Treasury minted 2 billion USDT on Ethereum. Tether CEO Paolo Ardoino said this was an authorized but unissued transaction, which means it will be used as inventory for the next issuance request and on-chain exchange.
Brevis Network Completes $7.5 Million Seed Round Led by Polychain Capital and Binance Labs
According to The Block, ZK coprocessor Brevis Network has completed a $7.5 million seed round of financing, led by Polychain Capital and Binance Labs, with participation from IOSG Ventures, Nomad Capital, Bankless Ventures, Hashkey, and several undisclosed angel investors. Brevis began raising funds for this round of financing in June and completed it in September; this round of financing was conducted in the form of token issuance, but refused to disclose the valuation after financing. Brevis is a ZK coprocessor or computing network that aims to improve the scalability of blockchains using ZK proofs. By enabling complex tasks (such as data processing) to be completed off-chain and only verified proofs to be sent back to the blockchain, Brevis aims to reduce the workload of the blockchain, increase speed, and reduce costs. Brevis' ZK coprocessor is currently in the Beta mainnet stage; Brevis' "SpaZK Verifiable AI" product is still under active development and will be released in future stages.
StakeStone, a full-chain liquidity asset protocol, announced the completion of a $22 million financing led by Polychain Capital, with Binance Labs and OKX Ventures participating in strategic investment, and the seed round led by SevenX. Other investors include Nomad Capital, HashKey Capital, Amber Group, etc. This round of financing will help StakeStone accelerate growth, expand its product services and enhance its influence in key markets. StakeStone is committed to building a liquid ETH/BTC asset standard based on a highly scalable staking network, launching a liquid index BTC (SBTC) and interest-bearing liquid BTC (STONEBTC) to enhance the application of native BTC in the EVM ecosystem and other blockchain networks. StakeStone plans to provide efficient liquidity support to ecological partners such as Berachain, AAVE DAO and DeFi protocols to promote the implementation of practical applications. In addition, StakeStone will launch payment products supported by interest-bearing ETH assets STONE, including flexible savings accounts and "buy now, pay later" (BNPL) options, to provide users with greater trading flexibility and build a sustainable application model based on MegaETH's real-time processing capabilities.
According to The Block, ASIC mining machine manufacturer Canaan Technology has signed a purchase agreement with HIVE Digital to provide HIVE with 6,500 Avalon A1566 mining machines with an average computing power of 185 TH/s. At present, the first batch of 500 mining machines have been delivered and planned to be installed, and the remaining 6,000 will be delivered in batches from December to March 2025. Influenced by this news, Canaan Technology's Nasdaq stock (CAN) rose 38% to $1.74. In addition, HIVE Digital announced that the new 100-megawatt expansion project in Paraguay has started and is expected to be fully operational in the third quarter of 2025, with a target computing power of 12.5 EH/s and an equipment efficiency of 17.6 J/TH.
Bloomberg analyst: The asset size of US spot Bitcoin ETF has reached 2/3 of that of gold ETF
Eric Balchunas, senior ETF analyst at Bloomberg, said on X platform: "U.S. spot Bitcoin ETFs now have assets of $84 billion, equivalent to two-thirds of the assets of gold ETFs. Suddenly, they are likely to surpass gold ETFs before their first anniversary (we previously predicted it would take 3-4 years)."
Yesterday, the US spot Bitcoin ETF trading volume reached US$7.22 billion, a new high since March 14
Bloomberg ETF analyst James Seyffart said that yesterday's US spot Bitcoin ETF trading volume reached $7.22 billion, which was the highest trading volume since March 14. It was also the sixth highest day in history. BlackRock's IBIT led with $4.6 billion, followed by Fidelity's FBTC, which barely exceeded the $1 billion level.
BTC breaks through $89,000, hitting a new all-time high
The OKX market data shows that BTC has just broken through $89,000 and is currently trading at $89,131.10 per coin, with a daily increase of 6.02%.
Later news came out that Bitcoin surpassed silver to become the world's 8th largest asset by market value ; the global cryptocurrency market value hit a record high, breaking through $3 trillion again after a lapse of three years .
Tesla's Bitcoin holdings value exceeds $1 billion
According to Arkham data, Musk's Tesla currently holds 11,509 BTC. With the rise in Bitcoin prices, the value of its Bitcoin holdings has now exceeded US$1 billion.
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