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Top 10 News of the Week
1. BTC briefly surpassed $99,000, setting a new all-time high link
BTC briefly surpassed $99,000, setting a new all-time high. As of the time of writing, the price is $98,696, up 1.44% in the last 24 hours.
2. US SEC Chairman Gary Gensler to step down on January 20, 2025 link
The US Securities and Exchange Commission (SEC) announced that current Chairman Gary Gensler will step down on January 20, 2025.
3. Central Commission for Discipline Inspection: Yao Qian was expelled from the party and public office for using virtual currencies for power-money transactions link
Yao Qian, former director of the Science and Technology Supervision Department and former director of the Information Center of the China Securities Regulatory Commission, was expelled from the party and public office for serious violations of discipline and the law, and was handed over to the judicial authorities for handling. According to the website of the Central Commission for Discipline Inspection and the National Supervision Commission, Yao Qian abused his regulatory power to seek personal gain, used virtual currencies for power-money transactions, and was involved in multiple violations of the code of integrity and policy regulations. As one of the creators of China's central bank digital currency, Yao Qian was actively involved in research and popularization of financial technology and cryptocurrencies during his tenure. Currently, Yao Qian has been transferred to the procuratorial authorities by the Shanwei Municipal Commission for Discipline Inspection of Guangdong Province for suspected serious violations of discipline and the law, and the relevant assets have also been transferred.
4. Bitcoin ETF options to be listed and traded link
On September 20, 2024, the US SEC approved the listing and trading of options for the iShares Bitcoin Trust. On November 15, 2024, the CFTC Clearing and Risk Division issued a staff advisory related to the clearing of these options. According to this advisory, the OCC is preparing for the clearing, settlement and risk management of such options. The OCC website has published an updated listing date, showing that the listing date for the IBIT options is Tuesday, November 19.
5. Trump team discusses creating a White House crypto position and reviewing candidates link
The Trump team is discussing the creation of a dedicated position in the White House to handle cryptocurrency policy. This position may be aimed at coordinating policy between federal agencies and communicating with industry stakeholders to address issues in the cryptocurrency space. It is not yet determined whether this position will be a senior White House role or the specific scope of responsibilities.
Insiders reveal that President-elect Trump will meet with Coinbase CEO Brian Armstrong to discuss personnel arrangements for the second administration. This will be their first post-election meeting, and is expected to involve cryptocurrency regulation. Previously, Trump proposed the establishment of a Bitcoin and Cryptocurrency Advisory Council, while Armstrong publicly supported current SEC Commissioner Hester Peirce as the next Chair. In addition, Coinbase donated over $100 million to various political action committees before the election, with the majority going to crypto industry-funded Fairshake.
6. Robert F. Kennedy Jr.: I have invested most of my wealth in Bit, so I am fully committed to it link
Former US presidential candidate Robert F. Kennedy Jr. recently released a video stating, "I am a staunch supporter of Bit. A year ago, I attended another Bit conference here. When I got home, I invested most of my wealth in Bit, so I am fully committed to it." Previously, Robert F. Kennedy Jr. had described Bit as a "free currency" and reiterated the ability of digital assets to hedge against currency inflation.
7. CZ: Countries will compete to include Bit in their strategic reserves link
CZ expressed appreciation for the speech by MicroStrategy founder Michael Saylor, saying: "Excellent speech. Worth a listen. Thanks for the shoutout to Binance in the video." CZ believes that countries will compete to print money to buy Bit, i.e. Bit strategic reserves. No one wants to be the last one.
8. Polish presidential candidate Sławomir Mentzen: If elected, I will establish a strategic Bit reserve link
Polish presidential candidate Sławomir Mentzen has promised that if elected, he will adopt a strategic Bit reserve. However, the parliamentary election vote share of the Freedom and Independence Union that Sławomir Mentzen belongs to is only 7.16%. Previously, Mentzen revealed in 2022 that he had invested all his funds in Bit in 2013. He also disclosed in his 2023 asset declaration that he holds Bit worth about 4.9 million zloty (about $119.6 million).
9. MicroStrategy acquires 51,780 BTC for $4.6 billion link
MicroStrategy announced that it has cumulatively acquired 331,200 Bit, at a total cost of about $16.5 billion, with an average purchase price of $49,874 per Bit. The latest purchase of 51,780 BTC cost about $4.6 billion, at a price of $88,627 per Bit. As of November 17, 2024, the company's quarterly Bit return rate reached 20.4%, and the year-to-date return rate was 41.8%.
10. Crypto market MEME frenzy link
Following the "case-sensitive battle" on Tuesday, the "runaway kid brother" created the most talked-about MEME token Quant on the chain on Wednesday. The "kid brother" issued a token called Quant through pumpfun during a live stream, and soon after sold off all the reserved shares, making a profit of about $20,000. As the story spread, the MEME community decided to teach the "kid brother" a lesson in pump-and-dump. After Quant, the "kid brother" issued two more tokens: the first was "sorry", perhaps expressing remorse; the second was "lucy", the name of his dog. The MEME community also found the social media accounts of the "kid brother's" family members and issued a series of "kid brother" ecosystem MEME tokens.
On Thursday, the Ethereum founder Vitalik Buterin's address vitalik.eth used 0.082 ETH (about $249.63) to exchange for 30,303 ANON. ANON is an AI MEME coin based on the Base ecosystem, created by anonymous users through the Superanon account and the AI Agent account @clanker in the Farcaster ecosystem. Users holding 15,000 ANON can post on Farcaster, and those holding 1 million ANON can post or delete tweets on Twitter. The official website claims that it uses zk-proof for anonymous posting, and posting and other operations may take several minutes due to the complex calculations required. The Base protocol lead Jesse Pollak's address exchanged 0.333 ETH (about $993.41) for 31,529 ANON.
Dogecoin UI designer DogeDesigner shared an audio clip of Musk stating: I still hold a large amount of Dogecoin, and SpaceX holds a large amount of Bit.
DWF Labs announced the launch of a $20 million "MEME Fund" to support innovative MEME projects across multiple blockchains. DWF Labs has previously collaborated with tokens such as Floki, Turbo, Simon's Cat, Neiro Ethereum and First Neiro on Ethereum. The MEME Fund aims to provide financial and strategic support to projects that demonstrate strong community engagement, unique value, and global impact potential.
This week, major exchanges have actively listed MEME tokens. Coinbase announced that it will add support for FLOKI (FLOKI) on the Ethereum network (ERC-20 token). Upbit, the largest exchange in South Korea, announced the listing of the KRW trading market for BONK. Binance listed several MEME token perpetual contracts this week, including SLERF, BAN, and DEGEN.
Analyst @defioasis summarized the potential beta tokens of memecoins: leading sub-sectors; survived 2-3 rounds of 70-80% drawdowns; best FDV 20M - 30M; large and growing holder base; good community; already listed on tier-2 CEXs. He suggests that instead of frequent PvP, it's better to firmly choose HODL.
Key Financing Events
- Hybrid payment platform Rise announced the completion of a $6.3 million Series A financing round link
- Crypto wallet Deblock raised an additional $16.8 million in seed funding link
- Shinami, a Move ecosystem development platform, announced the completion of a $5.645 million seed funding round link
- Valantis Labs completed a $7.5 million financing round link
- OpenLayer announced the completion of a $5 million seed funding round link
- Barter, a decentralized finance liquidity solution provider, completed a $3 million seed funding round link
- Stablecoin infrastructure platform Noble announced the completion of a $15 million Series A financing round link
- Bitcoin L2 solution Bitfinity Network announced the completion of a $12 million financing round link
- Alluvial, the developer of Liquid Collective, completed a $4.3 million strategic financing round link
For more industry financing events, please check crypto-fundraising.info.
