FTX co-founder Gary Wang was ruled by a US judge to be exempt from imprisonment
According to Tree News, citing a Reuters report, Sam Bankman-Fried's (SBF) former deputy Gary Wang was ruled by a US judge to be exempt from imprisonment for his role in the FTX crypto fraud case.
Trump team considers setting up the White House's first crypto 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 specifically responsible for crypto currency policy. According to insiders, this would be the first White House position focused on crypto currencies, and the candidate selection process is underway. It is unclear whether the position will be a senior position or be called a "crypto czar", but industry advocates hope the role will report directly to Trump. In addition, Trump had promised during the campaign to fire the current Securities and Exchange Commission (SEC) chairman Gary Gensler, relax crypto industry regulation, and establish a Presidential Crypto Advisory Council. Currently, the competition for candidates for this council is fierce.
It is reported that former Coinbase and Binance.US executives Brian Brooks and Coinbase CEO Brian Armstrong met with Trump this week to discuss related matters. This position may serve as a liaison between Congress, the White House, and federal agencies such as the SEC and CFTC. More personnel discussions are taking place at Trump's private club Mar-a-Lago.
South Korean financial regulator refuses to approve ETFs investing in crypto companies
According to Korean Economic TV, the South Korean financial regulator not only banned the issuance of crypto currency ETFs for spot and futures products, but also rejected funds investing in crypto companies including exchanges. The head of an asset management company said their proposal to set up a fund investing in crypto companies was rejected by the country's Financial Supervisory Service.
He mentioned that his company was preparing to launch an ETF focused on the US crypto exchange Coinbase and similar companies, but still needs to wait for approval from the local regulator. Meanwhile, an FSS official acknowledged the growing demand for Bitcoin investment, but said regulation would not be relaxed unless the current government policy changes.
Phantom ranks in the top 5 free apps on the US App Store, ranking first in the tools category
The Solana ecosystem crypto wallet Phantom ranks 5th in the free app rankings on the US Apple App Store. It ranks first in the tools category.
Bitwise applies to register a Solana-related ETF in the US state of Delaware
Bitwise has filed documents with the Delaware Secretary of State to register its first Solana-related ETF.
Coinbase will list FLOKI based on the Ethereum network
According to the official Coinbase announcement, Coinbase will list and support FLOKI (FLOKI), an asset based on the Ethereum network (ERC-20 standard). Trading will start at 1:00 am Beijing time on November 22 (9:00 am PT on November 21) or later.
According to the announcement on the MicroStrategy website, MicroStrategy announced the pricing of its $2.6 billion aggregate principal amount of 0% Convertible Senior Notes due 2029, an increase from the previously announced $1.75 billion aggregate principal amount. The offering 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 notes, which is equivalent to an initial conversion price of approximately $672.40 per share. This initial conversion price represents a premium of approximately 55% over the volume-weighted average price of MicroStrategy Class A common stock of $433.7997 per share during the period from 1:30 p.m. to 4:00 p.m. Eastern Time on November 19, 2024. The conversion rate will be subject to adjustment upon the occurrence of certain events.
MicroStrategy estimates that the net proceeds from the sale of these notes, after deducting the initial purchasers' discount and commissions and MicroStrategy's estimated offering expenses, will be approximately $2.58 billion (or approximately $2.97 billion if the initial purchasers exercise their option to purchase additional notes in full). MicroStrategy intends to use the net proceeds from this offering to purchase additional Bitcoin and for general corporate purposes.
DWF Labs launches a $20 million "Meme Fund" to support innovative Meme coin projects
According to Finance Feeds, DWF Labs has announced the launch of a $20 million "Meme Fund" to support multiple innovative Meme coin projects across blockchains. The "Meme Fund" is now accepting proposals from Meme coin projects seeking investment and guidance.
Digital Currency Group (DCG) has announced the establishment of a new subsidiary Yuma, aimed at supporting and promoting the development of the Bittensor network. DCG founder and CEO Barry Silbert will also serve as the CEO of Yuma, further driving the convergence of DCG's interests in crypto and artificial intelligence. Yuma will provide capital, infrastructure, and technical support to startups and enterprises to help them develop and deploy innovative projects on the Bittensor network.
Justin Sun wins Cattelan's iconic work 'The Comedian' for $6.2 million
TRON founder Justin Sun announced that he successfully bid $6.2 million for Maurizio Cattelan's iconic work 'The Comedian'. Sun stated that this work is a cultural phenomenon connecting art, internet culture, and the crypto community, and he believes it will spark more discussions and become a part of history. He also plans to personally eat the banana in the coming days as part of a unique art experience, paying tribute to its significance in art history and pop culture.
Nvidia reports Q3 results: revenue reaches $35.1 billion, net income $1.93 billion
Nvidia (NVDA.O) reported its fiscal year 2025 third quarter results, with revenue reaching $35.1 billion, up 94% year-over-year, exceeding the market expectation of $33 billion; net income was $1.93 billion, far exceeding the expected $1.69 billion. Additionally, third quarter gaming revenue was $3.3 billion, and data center revenue was $3.8 billion, up 112% year-over-year.
Nvidia expects fourth quarter revenue to be $37.5 billion, slightly higher than market expectations, but some investors' expectations were not met, causing the stock price to fall 5% in after-hours trading. CEO Jensen Huang stated that artificial intelligence is driving global computing demand growth, and Blackwell system production is accelerating, with fourth quarter delivery volume exceeding expectations. The company expects gross margins to exceed 70% by 2025. However, some analysts believe there is uncertainty in its revenue outlook, especially with Blackwell demand exceeding supply.
According to the Associated Press report, the encrypted entertainment gaming platform Monkey Tilt announced the completion of a $30 million Series A financing round, which was completed in the summer of this year, led by Pantera Capital, with investments from Polychain Capital, PokerGo, Hack VC, Dream Ventures, Accomplice, Mirana, and Josh Hannah. This latest financing has brought the total financing amount to over $50 million. According to the introduction, Monkey Tilt was launched in early 2024, integrating prediction games, sports, poker, and cryptocurrencies on a single platform. Monkey Tilt plans to launch a new cryptocurrency trading gamified product in the first quarter of next year. The total net inflow of the US Bitcoin spot ETF was $837 million yesterday, and the ETF net asset ratio reached 5.38% MicroStrategy's Bitcoin holdings currently have an unrealized profit of over $14.7 billion 21Shares has improved its Ethereum ETP by introducing a staking function, and the trading code has been changed to "ETHC" According to Beincrypto, asset management company 21Shares has announced major improvements to its Ethereum Core ETP, now including a staking function. With this upgrade, the product has been renamed Ethereum Core Staking ETP to better reflect its expanded functionality. The revised product has the trading code ETHC and can be traded on major European exchanges, including the Swiss Stock Exchange, Deutsche Börse Xetra, and Euronext Amsterdam. The company stated that this move aims to make it easier for institutional and retail investors across Europe to access Ethereum staking. It provides a novel way to earn returns from Ethereum's staking mechanism while maintaining a low-cost structure. The Ethereum Core Staking ETP is physically backed by Ethereum, with a management fee of 0.21%. Stripe launches the function of B2B payments through stablecoins Stripe CEO Patrick Collison posted on the X platform that Stripe has launched the function of B2B payments through stablecoins. Stripe employee @BackseatVC explained that users can now create and send invoices on Stripe that can be paid with available stablecoins; one of the strongest feature requests from users when Stripe launched the "Pay with Crypto" function last month was to improve the B2B payment experience; with the support of the invoice feature, this demand is now met. Previously, Stripe has launched the "Pay with Crypto" function in the US, supporting stablecoins including USDC and USDP.
