In response to netizens questioning the "necessity of the U.S. government's efficiency department," Musk said: "The United States was saved by a squirrel and meme coins."

Japanese brokerage and crypto exchange operator Monex Group announced today that the registration statement (Form F-4) submitted by its subsidiary Coincheck Group BV (CCG) to the U.S. Securities and Exchange Commission (SEC) became effective on November 12, which will greatly advance the crypto exchange's listing process on the Nasdaq in the United States.

Musk released the DOGE logo, which is a Shiba Inu with the words "Department of Government Efficiency". He also posted: "Making Government Fun Again!"

Wang Feng, founder of Linekong Interactive, wrote on his X platform: "Why did Linekong Interactive buy Bitcoin and what to do next? I will give five unified answers here: 1. We hold Bitcoin strategically. We are optimistic about Bitcoin network applications, decentralized finance, and crypto assets that empower real assets and Web3 applications. 2. I am an avid believer in encryption technology and have launched Marsbit, Consensus Labs (LK 3. I am very happy that Bitcoin has reached a new level of nearly $90,000 today. Our first purchase price was $26,000, and we have continued to purchase Bitcoin since then. I first pushed Linekong to buy Bitcoin at more than $4,000, but it was difficult for our board of directors to execute it at that time. 4. We will certainly disclose the progress of linear reduction at the right time; crypto assets are like stocks, the market is always volatile, and once the reduction is tactical; if the reduction is today, it must be for tomorrow's increase. 5. We are optimistic about Bitcoin in the long term; and we are very optimistic about the possibility of substantial growth this year or in the first quarter of next year. "

10x Research released a new report saying that there has been a huge explosion in retail cryptocurrency trading in South Korea, with the Upbit exchange reaching $18.6 billion in trading volume, not including another $7.3 billion traded on Bithumb. Overall, South Korean retail traders traded more than $26 billion on spot exchanges, while the trading volume of all local stocks in South Korea was only $14 billion - 85% higher than stock trading volume. Since Trump's election, Dogecoin has become the most traded cryptocurrency, with $8 billion traded in the past 24 hours - accounting for 57% of all stock trading in South Korea. The $18.6 billion trading volume on Upbit has exceeded the $16.2 billion in early March.

Trump said he would nominate TV host Pete Hegseth (born June 6, 1980) as U.S. Secretary of Defense. Pete graduated from Princeton University and has a graduate degree from Harvard University. He is a U.S. Army veteran and has hosted a show on Fox News for 8 years.

US President-elect Trump announced that Musk and Vivek Ramaswamy (Trump proxy) will lead the Department of Government Efficiency (DOGE for short).

US President-elect Donald Trump has hinted that he will bypass the Senate's confirmation process to appoint members of his administration, which appears to include replacing Securities and Exchange Commission (SEC) Chairman Gary Gensler. In a Nov. 10 X post, Trump said that only he has the power to choose which US senator will serve as Senate majority leader starting when the new Congress is sworn in in January 2025. The Republican said he hopes potential majority leaders will agree to make appointments during recess to bypass the confirmation process and put people in key positions "right away" instead of going through questioning and scrutiny by lawmakers.

Canary Capital has filed an application with the U.S. Securities and Exchange Commission (SEC) for the Hedera HBAR spot ETF, marking the first of its kind. The crypto investment firm filed an S-1 registration statement with the SEC on Tuesday. According to the filing, the fund aims to "provide exposure to the value of assets native to the Hedera network." According to the filing, the Canary HBAR ETF intends to hold HBAR directly without the use of derivatives, futures or other financial instruments. Custodians and administrators are not mentioned in the S-1 filing.

Zerion launched its Ethereum Layer 2 solution ZERO Network, allowing Zerion Wallet users to waive Gas fees when trading, minting, exchanging and cross-chain. ZERO Network uses smart accounts and Paymasters functions to support free transactions through account abstraction, providing users with a "zero-fee" on-chain experience.

Notabene aims to help cryptocurrency trading firms comply with AML regulations and provide a SWIFT-like crypto transaction information network for virtual asset service providers (VASPs). 165 companies including Copper, OKX and Ramp already use its platform.

COIN50 tracks the top 50 digital assets that meet basic criteria. Bitcoin accounts for 50.3%, Ethereum 27.5%, and Solana, XRP, and Dogecoin account for about 11.2%. COIN50-PERP perpetual contracts allow traders to hold positions indefinitely and are suitable for institutions and advanced users in specific regions.