Daily Report | M2 was hacked and approximately 13 million dollars were stolen; members of the Ethereum Foundation established Argot Collective; Florida holds 800 million dollars in crypto investments.

Organized by: Fairy, ChainCatcher

Important News:

"What important events occurred in the past 24 hours"

ZachXBT: Crypto exchange M2 was hacked for approximately $13 million yesterday

According to ZachXBT, the cryptocurrency exchange M2 was hacked yesterday, resulting in the theft of approximately $13 million from multiple hot wallets across different chains.

Asset management firm Strive to include Bitcoin in its portfolio

According to the Financial Times, asset management firm Strive, with $1.7 billion in assets under management, is hiring a new wealth management manager and will include Bitcoin in its standard investment portfolio.

The company was founded by biotech entrepreneur Vivek Ramaswamy, who previously ran for president and later supported Trump. Its investors include vice-presidential candidate JD Vance, and its first product is an energy ETF with the stock code DRLL.

FTX reaches settlement agreement with Evolve Bank and Silicon Valley Community Foundation, potentially recovering $21 million in assets

According to CryptoSlate, FTX has reached a settlement with Evolve Bank and the Silicon Valley Community Foundation (SVCF), which could allow it to recover up to $21 million in assets. The agreement is pending court approval, with a hearing scheduled for November 20.

Previously, Evolve Bank held over $13 million in deposits in accounts opened for FTX affiliate West Realm Shires Services Inc. After multiple negotiations, FTX and Evolve Bank agreed to return approximately $12.77 million to the bankrupt FTX and retain $462,700 as compensation.

Additionally, the Silicon Valley Community Foundation SVCF also agreed to return $8.57 million and the remaining FTT tokens to avoid litigation.

Bitcoin mining hosting company Applied Digital plans to raise $375 million through convertible notes

Bitcoin mining hosting and cloud services company Applied Digital plans to raise $375 million through a private placement of convertible notes. The notes have an annual interest rate of 2.75% and will mature in 2030, with initial purchasers also able to buy an additional $75 million. The company plans to use part of the funds for capped options trading to hedge against shareholder dilution risk and invest approximately $84 million in stock buybacks.

Applied Digital does not directly engage in Bitcoin mining but provides data center hosting services for other companies. Its latest quarterly report shows that out of $60.7 million in revenue, $34.8 million came from Bitcoin mining hosting services, while the remaining 43% came from cloud services.

UBS launches its first tokenized investment fund based on Ethereum

According to Lianhe Zaobao, UBS announced the global launch of its first tokenized money market fund, starting in Singapore. The UBS Dollar Money Market Investment Fund token (uMINT) is based on Ethereum distributed ledger technology (DLT). The fund offers investors a controlled-risk institutional-grade cash management solution, supporting high-quality money market instruments.

Previously, UBS launched a pilot for a tokenized variable capital company (VCC) fund as an industry partner in the Monetary Authority of Singapore's "Project Guardian" in October 2023. In June 2023, UBS issued 200 million yuan (approximately 37.16 million SGD) in digital structured notes for third parties and completed the world's first cross-border repurchase transaction fully executed and settled on a public blockchain in November of the same year.

Paxos partners with DBS Bank to launch Singapore-compliant stablecoin USDG

Blockchain infrastructure company Paxos announced the launch of the Singapore-compliant stablecoin Global Dollar (USDG), which is managed by DBS Bank for its USD reserves. This is Paxos's second localized stablecoin product, following the launch of the UAE-regulated interest-bearing stablecoin Lift Dollar (USDL) five months ago.

USDG received approval from the Monetary Authority of Singapore (MAS) in July this year and fully complies with the stablecoin regulatory framework established by MAS in August 2023. The stablecoin currently operates on the Ethereum blockchain and will expand to other public chains as regulatory developments occur. USDG is backed by a 1:1 USD reserve, which includes USD deposits, short-term U.S. government bonds, and other cash equivalents.

BNB Chain completes its 29th quarterly BNB burn, destroying BNB worth $1.07 billion

BNB Chain has completed its 29th quarterly BNB burn, destroying a total of 1,772,712.363 BNB, which was valued at approximately $1.07 billion at the time of the burn.

Coinbase discloses Q3 trading data, Bitcoin trading share rises to 37%

According to the latest shareholder letter released by Coinbase for Q3 2024:

Total trading volume was $18.5 billion, down 18% from Q2 (from $22.6 billion to $18.5 billion);
Institutional investor trading volume was $15.1 billion, accounting for 81.6% of total trading volume, maintaining its dominant position;
Retail investor trading volume was $3.4 billion, accounting for 18.4%.

From the structure of crypto asset trading:

Bitcoin's trading share rose to 37%, an increase of 2 percentage points;
Ethereum remained at 15%;
USDT trading share rebounded from 10% to 15%;
Other crypto assets' share decreased to 33%.

Additionally, Solana's share of trading revenue has reached 11%, indicating its growing importance as an emerging public chain. Despite the overall trading volume declining, the increase in Bitcoin's trading share reflects that Bitcoin remains the primary crypto asset favored by institutional investors following the approval of ETFs.

OKX to launch SCR/USDT spot trading on November 4

OKX will open SCR/USDT spot trading on November 4, 2024, at 16:00 (UTC+8).

SCR deposits will open on November 1, 2024, at 06:00 (UTC);
The call auction time will be from November 4, 2024, 15:00 to 16:00 (UTC+8);
SCR withdrawals will open on November 5, 2024, at 18:00 (UTC+8).

ZetaChain mainnet has paused block production for 4 hours

ZetaScan data shows that the ZetaChain mainnet has paused block production for 4 hours, with the latest transaction stuck at block 5529896 (at 11:32:15 Beijing time today).

Additionally, the ZetaChain status page indicates that an issue on the ZetaChain mainnet is under investigation, which has caused block production on the network to stop. Engineers are working hard to resolve the issue and actively restore network consensus.

Earlier news reported that due to the interruption in Zeta Chain (ZETA) block production, Upbit has suspended ZETA deposits and withdrawals. An announcement will be made to resume deposits and withdrawals once the stability of the coin is confirmed.

Members of the Ethereum Foundation establish non-profit R&D group Argot Collective

Members of the Ethereum Foundation have established a non-profit R&D group called Argot Collective, aimed at maintaining free and independent software related to Ethereum. The founding members of the organization consist of approximately 25 current employees of the Ethereum Foundation, with the initial focus of the project on smart contracts and verification services.

Nebulas Exchange submitted a virtual asset trading platform license application to the Hong Kong Securities and Futures Commission on October 25

The official website of the Hong Kong Securities and Futures Commission has updated the information on virtual asset trading platform license applications, showing that Nebulas Exchange submitted its application for a virtual asset trading platform license to the Hong Kong Securities and Futures Commission on October 25, 2024. The name of the submitting virtual asset trading platform operator is "Nebulas Hong Kong Limited," and there is currently no Chinese name available.

As of now, the number of applicants for virtual asset trading platform licenses announced by the Hong Kong Securities and Futures Commission is 15. According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, 11 platforms including HKbitEX, PantherTrade, Accumulus, DFX Labs, Bixin.com, xWhale, YAX, Bullish, Crypto.com, WhaleFin, and Matrixport HK are considered for licensing.

Trump sues CBS for $10 billion over Harris interview

According to Fox News, former U.S. President Trump has sued CBS for $10 billion over an interview with Harris.

Immutable: Received Wells notice from the SEC, but IMX token is not a security

According to Decrypt, blockchain gaming company Immutable has issued a statement indicating that it has received a Wells notice from the U.S. Securities and Exchange Commission (SEC). Additionally, the SEC sent a letter to the company's CEO James Ferguson and the Digital Worlds Foundation, which helped issue the IMX token, detailing the company's alleged violations of securities laws. The notice does not specify the allegations but claims violations of securities laws and potential false statements.

An Immutable spokesperson stated, "Although the SEC indiscriminately claims that all tokens in the industry are securities, we are confident that the IMX token is not a security. The notice merely cites legal provisions, and the meaningful details included are limited."

Trump: Happy 16th anniversary of the Bitcoin white paper

Former U.S. President Trump posted on social media platform X: "I want to wish our great Bitcoin enthusiasts a happy 16th anniversary of Satoshi Nakamoto's white paper. We will end Harris's war on cryptocurrency, and Bitcoin will be made in America! Vote for Trump!"

Florida CFO: The state holds $800 million in crypto investments

According to The Block, Florida's Chief Financial Officer Jimmy Patronis stated in a CNBC television interview on Thursday that the state's portfolio holds approximately $800 million in crypto-related investments. He would not be surprised if this figure grows if former President Trump is re-elected next month.

Earlier this week, Patronis mentioned in a letter that Florida should invest part of its state pension fund in cryptocurrency.

Report: ARK Fund under Cathie Wood's management heavily invested in Coinbase and Block in Q3

The 13F report shows that Cathie Wood's ARK Investment Management had significant holdings at the end of Q3, including Tesla, Roku, Coinbase, Roblox, and Block. In Q3, it sold 720,000 shares of Tesla (TSLA.O), reducing its stake by 13.65%, but it remains its largest holding, accounting for 10.65%.

"What interesting articles are worth reading in the past 24 hours"

Larry Liu from Qiming Venture Partners analyzes crypto payments in ten thousand words (Part 1): The evolution from credit cards to digital payments

Editor's note: Crypto payments are one of the hottest sectors recently. In addition to Stripe's $1.1 billion acquisition of stablecoin payment startup Bridge, creating the largest acquisition in crypto history, many mainstream financial institutions are accelerating their layout in crypto payments:

PayPal completed its first commercial payment using the stablecoin PYUSD.
Visa launched the tokenized asset platform VTAP to help banks issue fiat-backed tokens.
BlackRock partnered with Ethena to launch a new stablecoin supported by BlackRock BUIDL.
Coinbase and A16Z jointly invested in the AI crypto payment company Skyfire.

A summary of 11 new projects incubated by the Web3 version of YC "Alliance"

Today, Alliance DAO unveiled the 11 graduate projects of Alliance ALL13, covering various verticals such as global payments, DeFi, DePIN, and AI. As an accelerator that has successfully incubated popular projects like Pump.fun, Moonshot, Fantasy.top, and daos.fun, Alliance's accelerator program has always attracted attention.

Offramp: A stablecoin bank on Telegram

Offramp Labs (Kingsview Global Limited) is a virtual asset service provider based in Hong Kong. Offramp's financial partners and related subsidiaries provide card issuance services.

Offramp enables global users to conduct real-world transactions using stablecoins through a Telegram mini-app, supporting stablecoin top-ups for Visa cards, receiving payments from U.S. banks, and accessing savings and investment products, thereby reducing fees and protecting users' local bank accounts from crypto-related payments, eliminating account freezes.

U.S. election introduces new variables, crypto market plunges overnight?

On October 30, Bitcoin failed to reach a new all-time high, having risen above $73,600, just $100 shy of $73,777. Unfortunately, the momentum waned, and after several rounds of volatile consolidation, it ultimately declined. By around 9 PM on October 31, BTC accelerated its drop, dipping to around $68,800, and has now retreated to around $69,500.

After rising above $2,700, ETH also experienced a significant drop, falling to around $2,500, erasing gains from previous days. Altcoins also saw widespread declines.

In terms of contract data, $276 million was liquidated in the past 24 hours, with $247 million in long positions liquidated.

Why did Bitcoin fail to break the all-time high? What will the market trend be moving forward?

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。