Trump is looking for candidates who support cryptocurrencies for financial institutions
According to reports from Gold Ten citing the Washington Post, the US President-elect Trump is preparing to take a more lenient stance towards cryptocurrencies, and is looking for key position candidates who are friendly to the crypto industry. His senior advisors are also consulting with crypto executives on potential changes to federal policies. The initial discussions have focused on a series of financial regulatory agencies, including the US Securities and Exchange Commission. According to five people familiar with the matter, Trump's advisors are considering placing current regulators, former federal officials, and financial industry executives in important leadership positions, many of whom have publicly expressed support for cryptocurrencies. They warned that the discussion process is still in the early stages and the list of candidates is still changing.
Musk plays a key role in building Trump's future team
According to Gold Ten, ABC cited unnamed sources to report that billionaire Elon Musk has become one of the key figures in shaping Trump's future government. It is reported that since the last election, Musk has been appearing at Mar-a-Lago almost every day, directly influencing Trump's personnel decisions and strategies for his second term. Sources said he participated in two phone calls between Trump and foreign leaders. When talking to Zelensky, Trump even handed the phone to Musk, allowing him to discuss the situation directly with the Ukrainian leader. Musk also participated in a call with Turkish President Erdogan. In addition, according to the Associated Press, informed sources revealed that Musk's Super PAC spent about $200 million to help Trump run for US president.
Earlier, Musk's net worth has risen to $320 billion, with a single-day increase of $16.2 billion.
Institution: The Republican Party has gained control of the House of Representatives
According to Gold Ten, the election forecasting agency DECISION DESK HQ predicts that the Republican Party has gained control of the House of Representatives, with the current forecast showing the Republicans have won 218 House seats, becoming the majority party; the Democrats currently have 209 seats. According to previous forecasts by multiple media outlets, the Republicans have also gained control of the Senate.
MicroStrategy spent $2.03 billion to purchase 27,200 BTC
According to MicroStrategy's announcement, the company purchased 27,200 BTC between October 31 and November 10, at a cost of approximately $2.03 billion, with an average purchase price of about $74,463 per BTC. Currently, MicroStrategy's total holdings have reached 279,420 BTC, with a total purchase cost of approximately $11.9 billion and an average price of about $42,692 per BTC. The $2.03 billion for this purchase was raised through the company's ATM stock sale program. MicroStrategy's BTC year-to-date yield (BTC Yield) is 26.4%, with a quarterly yield of 7.3%.
Later, MicroStrategy's stock price hit a new high of over $350 after hours; MicroStrategy's BTC holdings currently have an unrealized profit of about $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. Polymer Hub is based on the IBC protocol developed by Cosmos, reducing the overhead of cross-chain communication to achieve higher efficiency in cross-chain speed and cost optimization. It adopts a pre-confirmation mechanism and EigenDA technology, supporting on-chain use cases with high data density, and provides reorganization protection, completing cross-chain transaction settlement in milliseconds to ensure transaction security.
Vitalik: Blob has "entered price discovery", with an average daily total fee of 10 ETH
Ethereum co-founder Vitalik Buterin posted on Warpcast that Blob has quietly "entered price discovery", with the recent total fees seemingly averaging around 10 ETH per day.
Split Capital proposes "BLUR fee conversion and veBLUR token economics" proposal
Split Capital has proposed the "BLUR fee conversion and veBLUR token economics" proposal on the Blur governance forum, aiming to add a framework to increase protocol fees and redirect fees back to the voting-locked BLUR (veBLUR) tokens. Currently, the Blur NFT market protocol has been implementing a 0% market fee, while enforcing a 0.5% creator royalty. The proposal suggests removing the mandatory enforcement of creator royalties and adding a 0.5% protocol fee on each transaction. It also proposes to establish a fee committee that can adjust the protocol fee rate to allow for quick adjustments based on market conditions and competitive landscape. Split Capital suggests changing the BLUR token economics to use two tokens, BLUR and veBLUR, to manage Blur's utility and governance, similar to Aerodrome. It also proposes to add an additional 30 million BLUR (1% of the total supply) as rewards in the current Season 4, which will be distributed to Blur users based on their total score at the end of the season. veBLUR is used for governance, where BLUR holders can vote by locking their tokens and exchanging them for veBLUR, which can have other tokens added to the veBLUR NFT at any time, with a locking period (also known as the voting delegation period) of up to 4 years, and the longer the locking period, the higher the voting power of the underlying locked balance.
According to The Block, the market has continued to rise since Trump's victory in the US presidential election, and the crypto exchange Coinbase's stock price has been particularly outstanding in the past week. Coinbase's stock price closed up 19.7% on Monday at $324.24, the highest closing price since November 19, 2021. Previously, on November 9, the stock had reached a closing high of $357.39, with an intraday high of $368.90. Over the past five trading days, Coinbase's stock price has risen 75%, while prior to that, the stock had mostly traded between $150 and $280. Earlier on Monday, Bloomberg ETF analyst Eric Balchunas posted on X platform that "Bitcoin mania has also swept the stock market, with Coinbase and Microstrategy among the top five most traded stocks today, something I've never seen before, only Tesla and Nvidia have higher trading volumes. It feels like a mania, at least for now."
OpenAI CEO: I'm optimistic about the bright future of cryptocurrencies
OpenAI CEO Sam Altman posted on the X platform: "Over the past year, World (also known as Worldcoin) has made amazing progress, and I'm very proud of the team, especially Alex Blania's leadership and the combination of vision and execution. More broadly, I'm optimistic about the bright future of cryptocurrencies."
Tether minted 2 billion authorized but unissued USDT on the Ethereum network in the early morning
According to Whale Alert, around 01:07 Beijing time, Tether Treasury minted 2 billion USDT on the Ethereum network. Tether CEO Paolo Ardoino stated that this was an authorized but unissued transaction, meaning it will be used as inventory for the next issuance request and on-chain exchange.
Brevis Network Completes $7.5 Million Seed Funding Round, Led by Polychain Capital and Binance Labs
According to The Block, ZK co-processor Brevis Network has completed a $7.5 million seed funding round, led by Polychain Capital and Binance Labs, with participation from IOSG Ventures, Nomad Capital, Bankless Ventures, Hashkey, and several undisclosed angel investors. Brevis began fundraising for this round in June and completed it in September; this round of financing was done through a token issuance, but the valuation after the financing was not disclosed. Brevis is a ZK co-processor or computing network, aiming to improve the scalability of blockchains using ZK proofs. By performing complex tasks (such as data processing) off-chain and only sending the verified proofs back to the blockchain, Brevis aims to reduce the workload on the blockchain, increase speed, and lower costs. Brevis' ZK co-processor is currently in the Beta mainnet stage; Brevis' "SpaZK Verifiable AI" product is still in active development and will be released in future stages.
The cross-chain liquidity asset protocol StakeStone has announced the completion of a $22 million funding round, led by Polychain Capital, with strategic investments from Binance Labs and OKX Ventures, and the seed round led by SevenX. Other participants include Nomad Capital, Hashkey Capital, Amber Group, and others. This round of financing will help StakeStone accelerate its growth, expand its product services, and enhance its influence in key markets. StakeStone is committed to building a highly scalable staking network-based liquidity ETH/BTC asset standard, launching the liquidity index BTC (SBTC) and the yield-bearing liquidity BTC (STONEBTC), to enhance the application of native BTC in the EVM ecosystem and other blockchain networks. StakeStone plans to provide efficient liquidity support for ecosystem partners like Berachain, AAVE DAO, and DeFi protocols, driving real-world application. Additionally, StakeStone will launch payment products backed by the yield-bearing ETH asset STONE, including flexible savings accounts and "Buy Now, Pay Later" (BNPL) options, providing users with greater transaction flexibility, and building a sustainable application model leveraging MegaETH's real-time processing capabilities.
Canaan Signs Purchase Agreement with HIVE Digital, to Provide 6,500 Avalon A1566 Miners
According to The Block, ASIC miner manufacturer Canaan has signed a purchase agreement with HIVE Digital, to provide HIVE with 6,500 Avalon A1566 miners, with an average hashrate of 185 TH/s. Currently, the first batch of 500 miners has been delivered and is planned to be installed, with the remaining 6,000 miners to be delivered in batches from December 2022 to March 2025. In response to this news, Canaan's Nasdaq-listed stock (CAN) rose 38% to $1.74. Additionally, HIVE Digital announced that its new 100MW expansion project in Paraguay has commenced, and is expected to be fully operational in the third quarter of 2025, with a target hashrate of 12.5 EH/s and an efficiency of 17.6 J/TH.
Bloomberg Analyst: US Spot Bitcoin ETF Assets Now Reach Two-Thirds of Gold ETF
Bloomberg senior ETF analyst Eric Balchunas stated on X platform: "The assets of US spot Bitcoin ETFs have now reached $84 billion, which is about two-thirds the size of gold ETFs. Suddenly, they are likely to surpass gold ETFs within a year of launch (we previously predicted this would take 3-4 years)."
US Spot Bitcoin ETF Trading Volume Reaches $7.22 Billion Yesterday, a New High Since March 14
Bloomberg ETF analyst James Seyffart stated that the trading volume of US spot Bitcoin ETFs reached $7.22 billion yesterday, which is the highest since March 14. This is also the sixth highest trading volume on record. BlackRock's IBIT led with $4.6 billion, followed by Fidelity's FBTC, which also barely exceeded $1 billion.
BTC Breaks $89,000, Reaching a New All-Time High
OKX market data shows that BTC has just broken through $89,000, currently trading at $89,131.10 per coin, with a daily increase of 6.02%.
Later, the news Bitcoin Surpasses Silver to Become the 8th Largest Asset by Global Market Cap; Global Crypto Market Cap Hits a New All-Time High, Surpassing $3 Trillion for the First Time in Three Years.
Tesla's Bitcoin Holdings Exceed $1 Billion in Value
According to Arkham data, Tesla currently holds 11,509 BTC, and with the rise in Bitcoin price, the value of Tesla's Bitcoin holdings has now exceeded $1 billion.
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