1. OKX CEO: Anyone who proves that OKX Wallet has a backdoor will be rewarded with 10 BTC.
Community user @ChinaWhaleETH claimed that 50 ETH was stolen from his OKX wallet, which he had used for four years, without any private key leakage, raising suspicions that the theft might be related to the wallet system, drawing market attention. In response, OKX Haiteng publicly stated that on-chain tracing confirmed that the user's seed phrase was not generated by the OKX wallet, and that the user initially stored the seed phrase in a notepad on a connected computer, a high-risk operation. Furthermore, the user's assets in other OKX Wallet addresses showed no abnormalities, concluding that there was no "wallet backdoor."
SlowMist (@evilcos) also stated that this case is more likely due to a leak of user-side seed phrase rather than a problem with the OKX Wallet system. Multiple parties have called for avoiding unsubstantiated accusations and advised victims to continue cooperating with the legal process. OKX CEO Star Xu stated that his team will reward anyone who can provide conclusive evidence that OKX Wallet has a backdoor with 10 BTC.
2. Harvard University's Q3 holdings disclosure: IBIT increased to 6.81 million shares, a significant increase of 257% compared to the previous quarter.
According to the latest 13F filing, as of September 30, Harvard University held 6,813,612 shares of IBIT, with a market value of approximately $443 million; and 661,391 shares of GLD, with a market value of approximately $235 million. Compared to the 1,906,000 shares of IBIT and 333,000 shares of GLD held at the end of June, these represent increases of 257% and 99%, respectively.
3. Strategy has transferred 43,415 BTC (approximately $4.26 billion) to over 100 addresses.
Arkham's monitoring shows that since 00:00 UTC on November 14th, Strategy has transferred 43,415 BTC (approximately $4.26 billion) to over 100 addresses. Arkham points out that these transactions are part of a custody migration process, including migrations from Coinbase Custody to new custodians, internal address reorganization within the custodian, and Coinbase internal wallet refresh operations. Arkham emphasizes that these transfers do not represent Strategy selling Bitcoin, and similar migrations have been occurring continuously over the past two weeks, which is seen as a continuation of existing custody switching.
4. Belarusian President: Cryptocurrency mining is one of the country's key electricity consumption areas.
Belarusian President Alexander Lukashenko stated that the world is rapidly reducing its dependence on the US dollar, and cryptocurrencies may become an alternative path. He explicitly stated that cryptocurrency mining is one of the country's key areas of focus for electricity consumption. He said that while mining is volatile, there is "no need to worry excessively."
5. Wu Blockchain Zhou's Picks: The First Central Bank to Buy Bitcoin, Bitcoin Whale Qian Zhimin Sentenced to 11 Years, US Government Ends Shutdown and Top 10 News Stories
Top 10 News Stories This Week
1. The US government officially ended its 43-day shutdown, the longest in history .
The US government has officially ended its 43-day shutdown, the longest in history, during which a large amount of economic data was missing, forcing macroeconomic analysis to rely solely on forecasts. The December FOMC meeting is a crucial juncture. Previously, the US Senate reached a bipartisan agreement to end the seven-week federal government shutdown. This agreement was pushed forward by Democratic Senators Angus King, Jeanne Shaheen, and Maggie Hassan, along with Republicans, and received support from Majority Leader John Thune and the White House. According to the agreement, Democrats pledged at least eight senators to cast procedural "yes" votes to ensure the appropriations bill proceeds smoothly, and the government is expected to reopen as early as this week. The agreement also includes: providing full-year funding for agriculture, veterans, military construction, and congressional operations; extending funding for other agencies until January 30, 2026; and reinstating federal employees laid off during the shutdown with back pay.
According to Reuters, White House economic advisor Kevin Hassett stated that due to the 43-day federal government shutdown preventing the Bureau of Labor Statistics from conducting household surveys, the October U.S. jobs report will only include non-farm payrolls, excluding the unemployment rate. He said the October unemployment rate "may never be accurately known." Hassett also estimated that the shutdown cost the economy approximately $15 billion per week, equivalent to dragging down the annualized GDP growth rate for the fourth quarter by about 1–1.5 percentage points, and resulting in the unemployment of approximately 60,000 non-federal employees.
2. Fed's mouthpiece: Growing divisions within the Fed over a December rate cut .
A report by Nick Timiraos of The Wall Street Journal states that a significant division has emerged within the Federal Reserve regarding whether to continue cutting interest rates in December. Some officials are concerned about sticky inflation and the effects of tariffs, advocating for a pause in rate cuts; while doves believe that weak employment and slowing demand are more worthy of attention. The report notes that the government shutdown, which disrupted key economic data, exacerbated the division within the policymaking body. With current interest rates in the 3.75%–4% range, the market still expects a slightly higher probability of a rate cut in December, but a rare "hawk-dove confrontation" has emerged within the Fed.
3. The U.S. Treasury Department and the IRS issued new regulations providing a compliant path for staking crypto ETPs .
U.S. Treasury Secretary Scott Bessent stated that the Treasury Department and the IRS have issued new rules providing a clear regulatory path for crypto exchange-traded products (ETPs), allowing them to pledge digital assets and distribute staking rewards to retail investors under certain conditions. Bill Hughes, Senior Legal Counsel at Consensys, explained that this safe harbor mechanism applies to specific trust structures, requiring the trust to hold only a single type of digital asset and cash, with a qualified custodian responsible for key management and staking execution, an SEC-approved liquidity policy to guarantee redemption arrangements, and to maintain transaction segregation from independent staking servicers. Furthermore, trust activities must be limited to asset holding, staking, and redemption, and independent trading is prohibited.
4. Dragonfly Partner: The current downturn is far less severe than the extreme bear market of 2022.
Dragonfly Managing Partner Haseeb wrote that the current downturn is far less severe than the extreme bear market of 2022, when Luna, 3AC, FTX, Genesis, BlockFi, and NFTs all collapsed, followed by bank failures, stablecoin de-pegging, and widespread regulatory pressure. "Back then, I really wasn't sure if the industry could survive," he said. In contrast, he stated that the market is now "much more relaxed," with solid fundamentals and a functioning crypto system, urging investors to relax, "Hang in there, we'll be fine."
However, a recent article on Wintertermute points out that while the correlation between BTC and the Nasdaq remains as high as 0.8, the correlation exhibits a negative skew—it only declines and never rises—responding sluggishly when the stock market rises but amplifying its declines. The analysis suggests this structural weakness reflects a shift in funds and narratives towards US stocks, coupled with fragile liquidity in the crypto market. Historically, similar phenomena have occurred more frequently at the bottom than the top of cycles, indicating that the market may be in a phase of emotional exhaustion rather than euphoria.
5. The Czech Central Bank became the first central bank to purchase Bitcoin, establishing a $1 million crypto test portfolio .
The Czech National Bank (CNB) announced the establishment of a $1 million experimental digital asset portfolio, including Bitcoin, US dollar stablecoins, and a tokenized deposit. Approved on October 30, the plan aims to test processes for purchasing, holding, and managing blockchain assets, with plans to share experiences over the next two to three years. This is reportedly the first time a central bank has included Bitcoin on its balance sheet. CNB emphasized that this purchase does not come from its international reserves and will not expand the scale of its investment.
6. Brazil's central bank releases a cryptocurrency regulatory framework, setting a maximum capital threshold of $7 million for companies and requiring them to apply for licenses .
The Central Bank of Brazil has officially released a regulatory framework for crypto service providers, requiring relevant companies to obtain licenses and comply with foreign exchange and capital market rules. International transactions must be reported regularly. According to the regulations, crypto companies must have a minimum capital of 10.8 million reais (approximately US$2 million), with some business types requiring at least 37.2 million reais (approximately US$7 million). Those failing to meet the requirements on time will be prohibited from operating, and overseas platforms must establish a local entity in Brazil to serve customers. The framework also incorporates stablecoins and cross-border transfers into the foreign exchange regulatory system, setting a limit of US$100,000 per transaction for self-custodied wallets, and requiring monthly reporting of transaction data to the central bank starting in May. Previously reported, the new regulations will take effect on February 2, 2025, and existing companies must complete compliance within nine months.
7. London sentencing hearing reveals details of overseas money laundering by the main perpetrator in the "60,000 Bitcoin money laundering case" (link)
Qian Zhimin, the mastermind behind the high-profile money laundering case involving 60,000 bitcoins, underwent a sentencing hearing at Southwark Crown Court in London, England. During the hearing, the Crown Prosecution Service further revealed key details of Qian Zhimin's money laundering journey from the Tianjin Lantian Gree case in China to the UK: Qian Zhimin purchased a total of 194,951 bitcoins, and when fleeing China, he took over 70,000 bitcoins with him using a laptop. His escape route was meticulously planned, and he had the assistance of multiple people. During his second escape to the UK, he also hired four servants and bodyguards.
According to Caixin, Qian Zhimin, the mastermind behind the Lantian Gree case, instructed her "front figure," Ren Jiangtao, to open an account on Huobi in 2014 to purchase 100,250 Bitcoins with 180 million yuan in investor funds, later increasing the amount to 143,951. In 2017, she purchased another 51,000 Bitcoins through OTC trading with 468 million yuan in investor funds, totaling approximately 194,951 Bitcoins. Starting in 2016, Qian Zhimin transferred over 70,000 of these Bitcoins to her laptop wallet and fled to the UK in 2017 via Myanmar, Thailand, Laos, and Malaysia. The report indicates that she maintained a luxurious lifestyle in London by exchanging Bitcoins, but her property purchases triggered an anti-money laundering investigation, ultimately leading police to identify approximately 60,000 Bitcoins.
Qian Zhimin was ultimately sentenced to 11 years and 8 months in prison in London for orchestrating a Ponzi scheme targeting over 120,000 elderly Chinese people. He used fake health and cryptocurrency mining projects to defraud people and then stored the profits in Bitcoin. In 2024, British police seized 61,000 BTC, worth approximately $6.3 billion, from his residence, setting a new record for cryptocurrency seizures in the UK. The ownership of this asset remains disputed, with China and the UK engaging in a battle over the distribution of the BTC, and some British officials proposing that it be included in the national reserve.
8. The Ethereum Foundation is advancing the dAI 2026 roadmap, with ERC-8004 and x402 as key directions .
The head of the EF dAI Team stated that they are working with the Ethereum Foundation (EF) management to develop the dAI Team 2026 roadmap. The goal is to build Ethereum into a global decentralized settlement and collaboration platform for AI, enabling autonomous intelligent agents to complete the interaction of identity, assets, and data under publicly auditable rules. They also expressed gratitude to the growing community surrounding the ERC-8004 and x402 protocols, stating that these two standards are becoming neutral specifications for "agentic commerce," and solicited opinions from teams building related applications on the areas that should be prioritized for support.
9. 70% of the world's top ten Bitcoin mining companies are relying on AI revenue to weather the bear market .
Of the world's top ten Bitcoin mining companies, 70% are already relying on AI revenue to weather the bear market. Seven leading mining companies (including Marathon, CleanSpark, Iris Energy, TeraWulf, and Core Scientific) have launched AI/HPC businesses or achieved revenue, while the remaining three are in the planning stages. AI hosting revenue has generally exceeded that of traditional mining, with annualized revenue per MW being about 50% higher. With power shortages and surging demand for data centers, the "hashrate ranking" of mining companies is being replaced by "AI contracts and stable cash flow."
10. Ripple is driving its institutional business expansion with approximately $4 billion in acquisitions and investments.
Ripple is driving its institutional business expansion with approximately $4 billion in acquisitions and portfolio acquisitions, aiming to build a full-stack infrastructure on the XRP Ledger covering custody, prime brokerage, payments, and stablecoin settlement. The company recently acquired multi-asset prime broker Hidden Road for approximately $1.25 billion and integrated GTreasury for approximately $1 billion to directly embed RLUSD stablecoin settlement into enterprise ERP and TMS systems. Simultaneously, Ripple is conducting RLUSD pilot programs with Mastercard, WebBank, and Gemini.
Key Financing Events
Cryptocurrency trading protocol Lighter announces completion of $68 million funding round .
Blockchain infrastructure company Commonware announced the completion of a $25 million funding round .
Crypto startup Seismic announced the completion of a $10 million funding round, led by a16z crypto and Link.
Decentralized confidential computing network Acurast announces completion of $11 million funding round .
ZK authentication protocol Self announced the completion of a $9 million seed funding round.
Infrastructure startup Sprinter recently completed a $5.2 million seed funding round.
YZi Labs invests in regenerative medicine company Renewal Biolink
For more industry funding events, please visit crypto-fundraising.info .
