Headlines
▌Over $275 million in liquidations in the past 24 hours, mainly long positions
Coinglass data shows that in the past 24 hours, the total amount of liquidations across the network reached $275 million, of which about $187 million were long position liquidations and about $88.77 million were short position liquidations.
▌21Shares files S-1 with the US SEC to launch XRP ETF
According to the US SEC website, 21Shares has filed an S-1 form with the US SEC to apply for the launch of an XRP ETF (21Shares Core XRP Trust). The ETF will track the price of XRP and plans to list on the Cboe BZX exchange. The ETF does not involve leverage or derivatives, and aims to reflect the US dollar performance of XRP based on the CME CF Ripple-Dollar Reference Rate (New York version). Coinbase Custody will serve as the XRP custodian for the ETF, responsible for safekeeping all assets.
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $69,534.31, with a daily change of -0.0%;
ETH's latest trading price is $2,512.72, with a daily change of +0.3%;
BNB's latest trading price is $573.42, with a daily change of +0.1%;
SOL's latest trading price is $167.09, with a daily change of +0.2%;
DOGE's latest trading price is $0.161, with a daily change of -0.1%;
XRP's latest trading price is $0.5146, with a daily change of +1.4%.
Policies
▌DWF Labs considers legal action against former partner Eugene Ng
DWF Labs managing partner Andrei Grachev said that DWF Labs will consider taking legal action against the dismissed founding partner Eugene Ng. Previously, Eugene Ng was accused of drugging and sexually harassing a woman while intoxicated.
▌Tornado Cash co-founder Roman Storm's criminal trial postponed to April 2025
A New York judge ruled that the criminal trial of Tornado Cash co-founder Roman Storm will be postponed to April 2025 to resolve disagreements over expert witness disclosures. The original trial date was set for this December. Storm's legal team has filed a writ of mandamus with the US Court of Appeals for the Second Circuit seeking to overturn the order regarding expert witnesses, with a hearing scheduled for November 12. Storm is charged with three counts of aiding and abetting money laundering, unlicensed money transmission, and sanctions violations, and faces up to 45 years in prison if convicted.
▌US government negotiates with PACs to recover $13.25 million in political donations from former FTX executives
The US government is negotiating with multiple political action committees (PACs) to return up to $13.25 million in political donations made by former FTX executives. The request has been approved by the judge overseeing the FTX case, Lewis Kaplan, and the government will continue discussions with the PACs about the forfeiture of these funds by January 15. Data shows the donations were provided by FTX founder Sam Bankman-Fried or former engineering chief Nishad Singh, with Singh testifying that some donations were made as per Bankman-Fried's instructions and that he had signed blank checks.
▌Paxos CEO: Develop a welcoming crypto policy to keep the US in a leading position
Paxos CEO Charles Cascarilla sent an open letter to Vice President Kamala Harris and former President Donald Trump on Tuesday, urging immediate regulatory reform to support the US blockchain and digital asset industry. Cascarilla warned that the US financial system is "closed, outdated and inefficient" and risks falling behind global competitors.
▌Coinbase Chief Legal Officer: Over 20 FDIC requests for banks to "pause", "cease providing" or "not continue" crypto banking services
The Coinbase Chief Legal Officer stated on the X platform that so far we have found over 20 examples of the FDIC (Federal Deposit Insurance Corporation) requesting banks to "pause", "cease providing" or "not continue" providing crypto banking services. The public should be given transparency, not an agency working behind the bureaucratic curtain.
Blockchain Applications
▌DePIN XYO expands to Solana blockchain
The decentralized physical infrastructure network (DePIN) XYO has announced that it has bridged from Ethereum to Solana, citing Solana's "high throughput, low transaction costs and scalability". XYO is a DePIN aimed at verifying location and other real-world data for Web2 and Web3 projects.
▌Web3 game developer Midnight to launch first MMO game on Aptos
Web3 game developer Midnight will launch the world's first MMO game "The Evergreen: Midnight Market" on Aptos. The game is currently in closed beta testing and will open to global players on November 13.
Cryptocurrencies
▌Kalshi launches more political event prediction markets before the US election
According to regulatory filings submitted to the US Commodity Futures Trading Commission (CFTC), Kalshi has launched more political event prediction markets before the US election, including the Ohio referendum result and the Associated Press (AP) announcement of the last state's result in the presidential race. According to CFTC data, Kalshi has registered more than 20 contracts since October 31, most of which are related to the upcoming US election. According to Kalshi's website, as of November 1, the total amount bet on Kalshi's "Who will win the presidential election?" contract, which was listed on October 7, has reached about $144 million. The platform's data shows that as of November 1, the probability of Trump winning the presidential election is 56%, while Harris' probability is 44%.
▌Viewpoint: Bitcoin is now more than just "digital gold", it is a core component of the global financial infrastructure
On the 16th anniversary of the Bitcoin whitepaper release, Trust Machines' Rena Shah points out that Bitcoin is now more than just "digital gold", but a core component of the global financial infrastructure. The Bitcoin ecosystem will reach a critical inflection point in 2024, including Layer 2 scaling, the proliferation of Ordinals, and accelerated institutional adoption. The Bitcoin ETFs pushed by financial giants like BlackRock have attracted over $1.5 billion in inflows, signaling Bitcoin's widespread acceptance in the traditional financial system.
▌Web3 companies raised $5.4 billion in the first three quarters of 2024
According to Crunchbase's Web3 tracking data, Web3 startups raised over $5.4 billion in venture capital in the first three quarters of 2024. Investors are increasingly targeting emerging markets at the intersection of blockchain and artificial intelligence, while projects focused on decentralized blockchain infrastructure also attracted significant capital inflows. In the last quarter alone, $1.4 billion flowed into blockchain companies. Highlights in October include Glow raising $30 million to develop a decentralized solar power grid, and Nillion Network raising $25 million to advance its decentralized privacy platform.
▌pump.fun transferred 90,000 SOL to Kraken 4 hours ago
Arkham data shows that pump.fun transferred 90,000 SOL, worth about $14.97 million, to Kraken 4 hours ago.
Important Economic Dynamics
▌The Fed's reverse repo usage falls to around $155 billion, the lowest since 2021
On Friday, the Federal Reserve's overnight reverse repurchase agreement (RRP) usage fell to $155.476 billion, a new low since 2021, down from $201.278 billion the previous trading day. The number of counterparties participating was only 41, significantly fewer than the usual common level.
▌US stock indexes collectively closed higher, with the Nasdaq up 0.80%
The three major US stock indexes collectively closed higher, with the Dow up 0.69%, the Nasdaq up 0.80%, and the S&P 500 up 0.41%. Intel rose nearly 8%, as the company's earnings beat expectations and its revenue guidance was higher than analysts' forecasts.
▌US October non-farm payrolls data disappoints, traders increase bets on a 25bp Fed rate cut
The US October non-farm payrolls data came in much weaker than expected (12,000), leading traders to increase bets on a 25 basis point rate cut by the Fed next week. (Gold 10)
Jinse Encyclopedia
▌What is the Aptos blockchain?
Aptos aims to become a fast, scalable, and reliable blockchain that supports decentralized applications (DApps), aiming to accelerate the development of Web3. Avery Ching and Mo Shaikh launched the Aptos blockchain on October 12, 2022. It aims to achieve high throughput and low latency, meaning it can process around 160,000 transactions per second and verify them in less than 1 second on average. Aptos natively integrates the Move language to provide these fast, secure transactions, allowing developers to write smart contracts and build DApps. Aptos provides everything needed to "build your big idea," even combining it with artificial intelligence to make it easy for both beginners and experts to use Web3.
Disclaimer: Jinse Finance, as a blockchain information platform, the articles published are for information reference only and not as actual investment advice. Please everyone should establish the correct investment concept and improve risk awareness.
