U.S. Senate Majority Leader to Become Crypto-Promoting Senator John Thune Next Year
According to The Block, U.S. Senator John Thune, who has supported cryptocurrency-related bills, has been selected as the majority leader of the U.S. Senate next year. The Republican from South Dakota was selected in a closed-door meeting on Wednesday. Thune currently serves as a member of the Senate Finance Committee, which is responsible for taxation and revenue affairs. In 2022, he co-sponsored a cryptocurrency bill called the Digital Commodity Consumer Protection Act with several senators. The bill aims to establish a legal definition for digital commodities and place their transactions under the jurisdiction of the Commodity Futures Trading Commission (CFTC). Thune also voted in May in favor of a bill aimed at overturning the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 121 (SAB 121).
Howard Lutnick, CEO of Crypto-Backed Cantor Fitzgerald, to Run for U.S. Treasury Secretary
According to Cointelegraph, Trump is selecting cabinet members for the incoming US government in 2025, and the position of Secretary of the Treasury is reportedly currently competing between Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick. FOX Business reporter Eleanor Terrett said Bessent will "almost certainly" get the position. The asset manager who supports crypto assets has the greatest chance of becoming the US Treasury Secretary along with hedge fund manager John Paulson. However, according to sources close to the process, Paulson withdrew from the cabinet selection due to what he called "complex financial obligations", and Lutnick has allegedly rushed to join in for the position of Secretary of the Treasury. Although the position is currently undecided, Lutnick and Bessent are both candidates who support encryption and believe that the industry will continue to exist and hope that the United States will promote the development of the digital asset field. It is reported that Cantor Fitzgerald, the company led by Lutnick, has served as the custodian of Tether's Treasury portfolio since 2021 and became the custodian of Tether's bond portfolio in 2023. Lutnick has long been a supporter of cryptocurrencies and has praised Tether and Bitcoin.
According to Jinshi.com, the annual rate of US unadjusted CPI in October was 2.6%, which was expected to be 2.6% and the previous value was 2.4%. The annual rate of US unadjusted core CPI in October was 3.3%, which was expected to be 3.3% and the previous value was 3.3%.
Traders increased bets on a December rate cut by the Federal Reserve following news late in the day.
According to Bloomberg, like his former FTX colleagues who have become witnesses for the U.S. government, Gary Wang provided "outstanding" assistance to federal prosecutors in their case against Sam Bankman-Fried (SBF), the founder of the crypto exchage FTX. In their argument for leniency, prosecutors said Wang created "tools" to help the U.S. government detect other frauds. "Wang also provided substantial assistance - and took steps to correct past mistakes in the process - using his extraordinary computer programming skills to detect potential fraud in the stock and cryptocurrency markets," federal prosecutors wrote in sentencing documents filed on Wednesday. "Unlike other co-conspirators, Wang did not lie to customers, lenders or investors, nor did he spend his customers' money." While prosecutors did not make a specific sentencing recommendation, the filing asked the court to consider Wang's outstanding cooperation. Prosecutors also said Wang was the first FTX insider to cooperate with prosecutors, even though there was little written evidence linking Wang to the fraud. It is reported that Gary Wang is scheduled to be sentenced on November 20 for his role in the FTX collapse.
Former SEC Chairman: Cryptocurrency Legislation Could Come During Trump Administration
According to Jinshi, former SEC Chairman Jay Clayton said on Wednesday that the U.S. Congress may pass legislation to regulate cryptocurrencies after Trump takes office. Clayton also said that he is in favor of relaxing regulatory burdens to encourage companies to go public, which foreshadows widespread changes in public policy, which is what the industry is currently looking forward to, and for this reason they have spent a lot of money to influence this month's presidential election.
According to Cointelegraph, Coinbase Wallet is about to launch a "Tap to Pay" crypto solution to join the competition with Cash App, Venmo, PayPal and other fast payment companies. Jesse Pollak, head of Coinbase Wallet and founder of Base, revealed in an interview that this feature is "currently in the internal alpha stage" and the full release is "coming soon." In addition, Pollak hopes to integrate 50 countries and regions into Coinbase Wallet by the end of 2025. Pollak pointed out that part of the integration will involve connecting user bank accounts to Coinbase wallets. At the same time, Pollak said that Base is seeking to solve the Ethereum Layer2 interoperability problem in the "next six months." Although there are multiple cross-chain solutions between the Ethereum mainnet and Ethereum Layer2, Base and other Ethereum Layer2s are still decentralized. Pollak said that this problem is being "quickly solved" through two important specifications-namely ERC-7683 (which introduces interoperability standards for cross-chain transfers) and RIP-7755 (which enables trustless execution between chains).
According to The Block, digital asset financial institution Arca and crypto investment company BlockTower Capital intend to merge. The two companies signed a letter of intent for an all-equity transaction. Although their respective business units will transition to a unified brand, BlockTower Venture Capital will remain independent. Arca co-founder and chief investment officer Jeff Dorman pointed out that new investment tools are expected to emerge after the merger. Data shows that BlockTower Capital has invested in well-known projects such as AptosLabs, DapperLabs and Solana, while Arca's investment portfolio includes Mintify and Bitwave.
Solana Eco Wallet Phantom said in a post on X: "A small number of iOS users are experiencing app resets. These users can restore their wallets using seed phrase. A new iOS app update has been launched to prevent this from affecting any other users." According to posts on social media earlier on Wednesday, some iOS users reported that after downloading the recent Phantom update, their Phantom wallets were automatically logged out and inaccessible. This problem seems to affect users who did not back up seed phrase.
Sotheby’s to Accept Crypto for Maurizio Cattelan Banana Artwork Auction
Sotheby’s will begin auctioning an artwork by artist Maurizio Cattelan, “Banana & Tape,” a banana taped to a wall, on November 21, accepting cryptocurrency payments and currently estimated at $1 million to $1.5 million.
Musk: DOGE's stable inflation rate is not a bug, but a feature
DOGE founder Shibetoshi Nakamoto (@BillyM2k) posted on the X platform: "If you want to eliminate the inflation of Dogecoin, the code is on line 146 of the GitHub code base, returning 10000*COIN; you can change it there, make a pull request, and convince the community and miners to use the new version. Don't bother me now." Musk commented on the X platform: "I think the stable inflation rate of Dogecoin is a feature, not a bug, which means that the inflation rate will be reduced in a certain proportion." Shibetoshi Nakamoto replied: "I agree that it is very suitable for use as a currency because it has a stable and predictable inflation rate, which decreases in percentage terms, much lower than the US dollar."
Grayscale announced on the X platform that the Grayscale Bitcoin Mini Trust (code BTC) and the Grayscale Ethereum Mini Trust (code ETH) have seen net inflows of more than $1 billion after only three months of trading.
Coinbase has launched dogwifhat (WIF) in the early morning
Coinbase Assets tweeted that it has added dogwifhat (WIF) to its coin listing roadmap today. Update: dogwifhat (WIF) is now available on Coinbase.com and the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, exchange, send, receive or store these assets.
Upbit to List Pepe (PEPE) in Korean Won Market
According to the official announcement, South Korean crypto exchage Upbit will list Pepe (PEPE) in the Korean won market, and trading will begin at 11:30 local time today.
Coinbase will list PEPE later today and has been added to the coin listing roadmap
According to Coinbase Chief Legal Officer Paul Grewal on the X platform, Coinbase will list the Pepe (PEPE) token later today and has now added it to the listing roadmap.
Robinhood US platform relists SOL, ADA and XRP, and adds PEPE
According to Tree News, Robinhood’s US platform has relisted Solana (SOL), Cardano (ADA) and Ripple (XRP), and newly listed PEPE.
According to Bloomberg, people familiar with the matter revealed that Polymarket was investigated by the U.S. Department of Justice for allegedly allowing U.S. users to place bets on the platform. The FBI issued a search warrant for Polymarket CEO Shayne Coplan and seized his mobile phones and electronic devices. According to an agreement reached with the Commodity Futures Trading Commission in 2022, Polymarket is required to prevent U.S. traders from trading on the platform. Polymarket said in a statement that the company will "stand up for ourselves and our community" and accused the FBI of a politically motivated search. The company said: "Polymarket is a completely transparent prediction market that can help people better understand the events that matter most to them, including elections."
Coinbase acquires Utopia Labs team to accelerate on-chain payment deployment
According to the Coinbase blog, Coinbase announced that the Utopia Labs team will join its Ethereum second-layer network Base to accelerate the development of on-chain payments for Coinbase Wallet. The stablecoin studio Utopia Labs has extensive experience in on-chain payments and will help Coinbase achieve its vision of low-cost and fast global on-chain payments in the future. Data shows that the transaction volume of stablecoins reached 8.5 trillion US dollars in the second quarter of 2024, with more than 1.1 billion transactions.
BlackRock’s BUIDL Fund Expands to Aptos, Arbitrum, Avalanche, OP, and Polygon Chains
According to the Securitize announcement, BlackRock announced that its US dollar institutional digital liquidity fund (BUIDL) will launch new share categories on multiple blockchains, including Aptos, Arbitrum, Avalanche, Optimism's OP mainnet and Polygon. The fund was originally launched on the Ethereum network in March 2024 and tokenized by Securitize.
CurveDAO launches savings module Savings crvUSD (scrvUSD)
According to the CurveDAO announcement, the decentralized exchange Curve has launched a new savings module Savings crvUSD (scrvUSD), which is a revenue version of its stablecoin crvUSD, enabling users to earn "low-risk" compound interest by depositing crvUSD. The module was developed in collaboration between Curve and Yearn Finance, using Yearn's V3 vault technology. scrvUSD allows users to deposit crvUSD to earn partial interest income, with secure custody of funds and no re-mortgage risk, while achieving automatic interest compounding. The design enhances the stability and attractiveness of crvUSD, and aims to further promote its ecological growth through a stable revenue model and expand into DeFi applications.
Cardano Foundation spends $23.7 million in 2023, with ADA as the main asset holding
According to CoinDesk, the Cardano Foundation released its first "Financial Insights Report" for 2023, revealing that the total expenditure for the year was US$23.7 million. Among them, US$19.22 million was used for operations, education and ecosystem promotion, and another US$4.55 million was for center operating costs. Foundation CEO Frederik Gregaard said that the report reflects the foundation's commitment to transparency, showing resource allocation and its role in promoting the development of Cardano. As of December 31, 2023, the Cardano Foundation had total assets of US$478.24 million, of which 82.5% was ADA, 10.1% was BTC, and the rest was US dollar liquidity. Since the beginning of the year, Bitcoin has risen 109%, while ADA has fallen 9%. In addition, Cardano's governance token soared 35% over the weekend after founder Charles Hoskinson announced that he would assist the Trump administration in formulating encryption policies.
According to The Block, Crypto-AI startup 0G Labs announced that it has received $290 million in new financing, including $40 million in seed round financing and $250 million in token purchase commitments. The project aims to build a decentralized AI operating system (dAIOS) to support the development of on-chain AI applications. Investors in 0G Labs include Hack VC, Delphi Digital, OKX Ventures, Samsung Next, Bankless Ventures, Animoca Brands and its co-founder Yat Siu, Polygon and its co-founder Sandeep Nailwal, Stanford Blockchain Fund, Abstract VC, Alchemy, Blockdaemon, Foresight Ventures, etc. 0G Labs co-founder and CEO Michael Heinrich said that the token commitment will be used for the ecological development of the 0G protocol, and the token is expected to be listed on the exchange next year. The current total financing amount has reached $325 million. The new funds will support the team to expand to 80 people and promote ecological projects such as developer incentives, hackathons and community building.
BTC breaks through $93,000, hitting a new all-time high
The OKX market data shows that BTC has just broken through $93,000 and is currently trading at $93,163.90 per coin, with a daily increase of 0.69%.
An early whale transferred 9,298 ETH to Kraken in the early morning, worth $29.63 million
According to on-chain analyst Ember, a whale that obtained 50,000 ETH through IC0 transferred 9,298 ETH (US$29.63 million) to Kraken 6 hours ago. Currently, this whale still holds 10,102 ETH (US$32.16 million).
An early whale transferred 5707.9 ETH to Kraken 50 minutes ago and still holds about 21,000 ETH
According to on-chain analyst Ember, an address that received 200,000 ETH in the Ethereum Genesis Block in 2015 and received 42,600 ETH from an address related to the Ethereum Foundation in 2016 transferred 5,707.9 ETH (about $18.08 million) to Kraken 50 minutes ago. After receiving the 242,600 ETH, the address continued to transfer ETH to Kraken in batches, and transferred a total of 221,000 ETH in 8 years, with a total cash out of $265.8 million and an average selling price of about $1,200. Currently, the address still holds about 21,000 ETH, worth about $66.64 million.
According to iChainfo monitoring, the Bitcoin address (1Law...9YMQ) that has been silent for seven years transferred 2,720 BTC five hours ago, with a total value of approximately $245.14 million. This is about 20 times higher than the value seven years ago.
A whale added 7389.5 ETH 9 hours ago, and accumulated a total of 18,000 ETH in the past 3 days.
According to Lookonchain monitoring, a whale address added 7,389.5 ETH (about 23.44 million US dollars) 9 hours ago. The address has accumulated a total of 18,049 ETH (about 59.3 million US dollars) in the past 3 days.
Coingecko data shows that the squirrel-based meme coin PNUT is now trading at $2.29, up 447.9% in 24 hours, and its market value has increased to $2.277 billion. This morning, Musk used the "peanut" emoji again when commenting on the news that "Costco was asked to recall 80,000 pounds of butter."
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