Organized by: Luan Peng, ChainCatcher
"What Important Events Happened This Week (11.4-11.10)"
Sonic Labs co-founder Andre Cronje expressed his views on the recent controversy regarding exchange "listing fees." He stated, "Binance did not charge us a listing fee, but Coinbase has requested fees multiple times, with quotes of $300 million, $50 million, $30 million, and the most recent quote being $60 million."
Some supporters of Coinbase responded by claiming that Andre may have contacted fake Coinbase listing workers and questioned Sonic Labs' background checks.
Andre responded again, saying, "I did not sign a confidentiality agreement, so I am very willing to provide relevant evidence (the requests came from multiple employees/departments at Coinbase over the years via email, Telegram, and Slack). It can be said for sure that Coinbase can argue this is not a listing fee but other fees, but it still translates into the listing costs for projects. I know Coinbase may legally make some cuts, but I am happy to publish all evidence and let the public scrutinize it."
According to official news, the Monetary Authority of Singapore announced plans to promote regulated and trusted tokenized forms of currency as common settlement assets to reduce settlement risks and market fragmentation. It is currently facilitating financial institutions to obtain common settlement assets, including the Singapore dollar wholesale central bank digital currency (CBDC). The initial test network SGD Testnet will include features such as settlement tools, programmability, and interoperability.
The testnet SGD Testnet will be open to eligible financial institutions in Project Guardian and Project Orchid, with the first batch of participating institutions including DBS Bank, OCBC Bank, Standard Chartered Bank, and UOB, with use cases including payments and securities settlement.
According to Caixin, former Binance CEO Zhao Changpeng stated at the second Gulf Investment Forum held in Bahrain, "Many people do not know the good here."
Zhao also mentioned that he learned that Hong Kong peers are actively exploring RWA, but the price fluctuations of real-world assets are relatively small, making it difficult to form sufficient trading volume in the secondary market, and liquidity is likely to gradually shrink, waiting for innovators to propose truly liquidity-generating use cases.
Additionally, Zhao expressed great optimism about investment opportunities in the Middle East, focusing not only on blockchain investments but also strategically positioning in AI, biotechnology, and other fields in Gulf Cooperation Council countries.
It is reported that after obtaining a license from the Central Bank of Bahrain to operate as a crypto asset service provider, Binance also received approval for a banking license from the CBB, meaning Binance has legal fiat entry and exit channels locally.
On-chain detective ZachXBT responded to the incident of deploying the ERC-20z token, stating, "Zora's user interface currently does not inform creators that an ERC 20 token will be launched at the end of the open edition NFT minting. If people continue to @ me in the posts, I will dilute this topic with more minting works that have no end date and may take other actions (replacing artworks on Zora with blank images). I never intended for people to speculate on the investigation; I just wanted a free digital collectible that can be permanently archived on the blockchain (e.g., see my previous Mirror article)."
Previous news indicated that according to GMGN data, the market value of the ERC-20z token deployed by ZachXBT exceeded $14 million before falling back.
According to Fortune, Binance CEO Richard Teng stated at the Singapore Insights Forum that despite Asia driving most of the growth in the financial system, Western companies will still be the main beneficiaries. Teng pointed out that Western companies, with their scale and influence over regulatory frameworks, will dominate in seizing growth opportunities. He called on policymakers to ensure local competitors have a fair chance and allow for broader experimentation.
According to a Deloitte report, digital wallet spending in the Asia-Pacific region reached $9.8 trillion in 2023, accounting for two-thirds of global spending. Vincent Iswara, CEO of Indonesian mobile wallet company Dana, described the Asian payment sector as the "Wild West," lacking unified standards. The cautious attitude of regulators has driven the rapid development of e-wallets and digital banks in the Asia-Pacific region.
Jessie Toh, Global CFO of Coda Payments, emphasized that mobile phones are key to financial inclusion and accessibility. She also noted that stablecoins are becoming increasingly popular in economies with currency volatility, providing users with tools to combat inflation and currency depreciation. Teng added that the growth of stablecoins outside the U.S. is driven by demand from residents of low-income countries, with young consumers using them as a means to protect funds and for low-cost transfers. Stablecoins also enable countries to gradually break free from the U.S.-dominated financial system.
U.S. Republican presidential candidate Trump announced his victory in the 2024 presidential election.
Additionally, Trump expressed gratitude to all voters who supported him, his campaign team, and his family, and kissed his wife Melania Trump.
7. Trump: "God Spared Me for a Reason, and That Reason is to Save Our Country"
According to Interface News, U.S. Republican presidential candidate Trump delivered a speech in West Palm Beach, Florida, announcing his victory in the 2024 presidential election.
Trump stated, "People tell me, 'God spared me for a reason.' That reason is to save our country and make America great again. Now, we will accomplish this mission together."
Trump said, "The task before us is not easy, but I will put every ounce of energy, spirit, and fighting spirit from the depths of my soul into the work you have entrusted to me."
8. Harris Gives Speech Acknowledging Defeat, Urges Supporters to Fight for Their Ideals
According to Jinshi, on the afternoon of November 6, U.S. current Vice President and Democratic presidential candidate Harris delivered a speech at Howard University in Washington, D.C.
Harris stated that she accepts the result of losing the election and will help Trump and his team complete the power transition peacefully. She told her supporters to accept her electoral defeat but urged them to continue fighting for the ideals she advocated during the campaign.
9. Over 250 Pro-Crypto Candidates Elected to Congress in This Election
According to Fox Business, in the U.S. 2024 election, over 250 pro-crypto candidates were elected to Congress.
According to the latest data from Stand With Crypto, more than 270 pro-crypto candidates secured congressional seats in this election.
Last night, CCTV-2 (CCTV Finance Channel) reported that "Bitcoin price soared to a historic high, reaching $75,000, with an increase of over 8%."
The report stated that Trump had previously promised to make the U.S. the world capital of Bitcoin and cryptocurrency and to establish strategic Bitcoin reserves.
According to Chainwire, the cryptocurrency news and analysis platform CCN released a latest report on the Canadian cryptocurrency market. The report shows that the Canadian cryptocurrency market has rapidly expanded over the past year, with an estimated 10% of Canadians currently holding some form of cryptocurrency. Bitcoin and Ethereum account for over 60% of the total market share in Canada, while other altcoins like Solana and Chainlink are also gaining attention.
The report pointed out that increased institutional interest, favorable regulatory frameworks, and enhanced public awareness of digital assets are the main factors driving market growth.
Additionally, new regulatory guidelines introduced by the Canadian government in 2024 further encourage cryptocurrency exchanges and individuals to participate more actively in the market.
According to Haibao News, on November 6, Sichuan Leshan police disclosed an illegal operation case involving a major cross-regional underground bank crime network that spanned 13 provinces nationwide, with an amount exceeding 38 billion yuan. Recently, the Leshan Intermediate Court made a ruling, sentencing three defendants to prison terms ranging from two years and six months to thirteen years and six months for crimes of illegal operation and issuing false VAT invoices.
It is reported that the case involved virtual currency trading and cross-border fund transfers, with approximately 20 million pieces of mixed fund operation information. According to the police handling the case, a total of 37 cases were filed by public security agencies nationwide, resulting in the arrest of 176 criminal suspects, successfully dismantling a major cross-regional underground bank crime network involving 13 provinces and an amount exceeding 38 billion yuan. Currently, relevant cases are being further investigated and tried in various locations. The main perpetrator of the case has been sentenced to thirteen years and six months in prison by the Leshan Intermediate Court.
13. Biden: Will Work to Ensure a Smooth Transition to the Trump Administration
U.S. President Biden delivered a national address on Thursday, stating that he will work to ensure a smooth transition from the current administration to the incoming Donald Trump administration.
"Yesterday, I spoke with President-elect Trump to congratulate him on his victory, and I assured him that I have instructed the entire government to cooperate with his team to ensure a peaceful and orderly transition. This is what the American people deserve," he added, expressing hope that Trump's recent victory in the 2024 presidential election would eliminate doubts about the validity of the 2020 election. "I also hope we can address concerns about the fairness of the American electoral system. It is honest, fair, transparent, and trustworthy, regardless of winning or losing," Biden stated.
14. Data: Federal Reserve Cuts Interest Rates by 25 Basis Points
The Federal Reserve has lowered the benchmark interest rate by 25 basis points to 4.50%-4.75%, marking the second consecutive rate cut, in line with market expectations. (Jinshi)
The Ethereum Foundation released its 2024 report, stating that as of October 31, 2024, the EF (Ethereum Foundation) has asset reserves of approximately $970.2 million, of which $788.7 million is in crypto assets and $181.5 million is in non-crypto investments and assets.
The majority of our crypto holdings (99.45%) are held in the form of ETH. These ETH account for 0.26% of the total ETH supply as of October 31, 2024. We choose to hold most of our reserves in ETH. The Ethereum Foundation believes in the potential of Ethereum, and our ETH holdings reflect this long-term perspective. At the same time, the goal of EF's asset reserves is to provide funding support for important public goods in the Ethereum ecosystem for the coming years.
To achieve this goal, we must follow a conservative fiscal management policy to ensure that we have sufficient resources even during prolonged market downturns. This requires regularly selling ETH to ensure adequate reserves for the coming years and increasing our fiat reserves as planned during bull markets to fund expenditures during bear markets.
According to CryptoSlate, BlackRock's iShares Bitcoin Trust (IBIT) has become the third highest fund in the U.S. ETF market for net inflows year-to-date in 2024, attracting $26.174 billion.
As of now, IBIT's year-to-date return is 48.52%, with assets under management reaching $30.1 billion, surpassing many traditional ETFs in both net inflows and performance. Additionally, IBIT's year-to-date return is nearly double the second highest return among the top ten funds by flow. However, IBIT's total assets under management (AUM) are more than ten times smaller than those of the other top four funds.
Just yesterday, on November 7, IBIT saw a net inflow of $1.1 billion in a single day, exceeding the annual inflow of all ETFs in the U.S. outside the top 150. This significant inflow surpassed the total annual inflow of most of the approximately 3,300 ETFs in the U.S. market.
17. He Yi: I Am Not the Final Decision-Maker in the Listing Process
Binance co-founder He Yi stated on the X platform, "I am not the final decision-maker in the listing process. Some people even ask if there is a process for futures listings. There is no application entry for futures listings, and the listing fee for Binance Futures is $0. Listing on Binance Futures does not guarantee a spot listing."
18. Data: Tesla's Market Value Reaches $1 Trillion Again
Tesla's stock opened nearly 5% higher today, reaching a new high since September 2022, with its total market value again hitting $1 trillion.
According to 8marketcap data, Tesla's market value is currently approximately $1.008 trillion, with a 5.8% increase over the past 24 hours.
19. Data: Musk's Net Worth Exceeds $300 Billion
According to DEGEN NEWS, Tesla and SpaceX founder Elon Musk's net worth has surpassed the $300 billion mark, reaching $300.3 billion, an increase of $10 billion from the previous day, with a growth rate of 3.43%.
Zhao Changpeng posted on social media, stating that when Bitcoin continues to hit historical new highs, please apply appropriate risk management. There will still be many lows (and highs) in the future, so ensure you can handle them, control your greed, and do not put all your eggs in one basket.
"What Are the Noteworthy Articles to Read This Week (11.4-11.10)"
Crypto payments are one of the hottest sectors recently. In addition to Stripe's $1 billion acquisition of stablecoin payment startup Bridge, creating the largest acquisition in crypto history, many mainstream financial institutions have begun to accelerate 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.
- ……
Crypto payments are also showing a surge in financing. In ChainCatcher's September release of the crypto payment financing statistics article, it can be seen that crypto payment financing has recently gathered giants from various fields such as payments, stablecoins, and traditional finance. Visa, Tether, Circle, JPMorgan, and Standard Chartered are all vying to enter the market, while top-tier capital such as Sequoia Capital, Temasek, and A16Z are also placing bets.
Recently, well-known investment fund Qiming Venture Partners' investor Larry Liu published a lengthy series of articles titled “The Last Big Thing—Crypto Payments”, systematically exploring the future of crypto payments from the historical transformation of payments, the current status and trends of crypto payments, and more. ChainCatcher has compiled this.
The first article in this series discusses the origins of credit card payments to modern digital transformation, exploring the panorama of traditional payment systems.
This article is the second part, discussing the unique advantages of blockchain technology in payments and assessing the current state of crypto payments. The final part will analyze emerging trends and revolutionary possibilities.
2. After the U.S. Election, How Long Will the Hype Around Polymarket and Prediction Markets Last?
New users of Polymarket are likely to continue using the platform after the U.S. election cycle. About 4/3 of users trade on non-election-related topics, indicating sustained interest in diverse topics.
3. Full Text of the Federal Reserve Statement: Cuts Rates by 25 Basis Points, No Votes Against
On November 8, the Federal Reserve announced a 25 basis point rate cut to 4.5%-4.75%, in line with market expectations. This decision was unanimously passed, with the policy statement's wording remaining largely unchanged, continuing to emphasize close monitoring of risks to dual objectives, but removing the phrase "more confident that inflation is sustainably moving toward the target." No clear signals were given regarding future rate cuts, nor was there any comment on the results of the U.S. election.
4. The Hidden Crypto Beneficiaries in the U.S. Election
On November 6, 2024, the most dramatic U.S. election in history came to a close. Trump, dubbed the "crypto president," was successfully elected, perhaps signaling that crypto has officially entered the White House. Meanwhile, Bitcoin broke the $75,000 mark, reaching a new historical high. The hidden interest groups and beneficiaries behind this will gradually come to light.
5. The First "Crypto President" is Born! The Wheels of Crypto's Fate Have Started Turning
Trump is elected! The first cryptocurrency president in the White House is born!
On November 6, Beijing time, the most dramatic presidential election in U.S. history has finally come to a conclusion. According to real-time election data from Fox News, Trump defeated Harris with a margin of 67,121,735 votes to 62,142,405 votes, successfully securing 277 electoral votes, surpassing the 270-vote threshold to win the 2024 U.S. presidential election.
Trump's continued lead and successful election have propelled BTC to briefly break through $75,000, setting a new historical high, with various sectors of crypto entering a period of widespread gains.
The 2024 U.S. election is destined to leave a significant mark in the history of crypto. Since the birth of Bitcoin, the crypto industry has gone through 16 years and three election cycles, finally entering the political stage of the U.S. election in a meaningful way.
Behind the politicians like Trump playing the "crypto card" is the growing strength of crypto assets like Bitcoin and the accumulation of power from crypto voters.
Whether Trump's crypto promises will materialize after taking office or not, the wheels of crypto's fate may have already begun to turn.
6. Selling "Trump": The Trump Family Has Earned Millions from "Brand Licensing" to Crypto Projects
On November 5, local time, the voting for the 60th presidential campaign in the U.S. concluded, and who will ultimately occupy the White House between Donald Trump and Kamala Harris is not only the focus of global attention but also a new change in the crypto world.
Since the beginning of the campaign, Trump has repeatedly expressed support for the development of cryptocurrencies. If he successfully returns to the White House, the strict regulatory policies on the crypto market in the U.S. may undergo a transformation, injecting new vitality into the industry. At the Bitcoin 2024 conference, Trump stated in his speech that if re-elected, he would ensure that the government retains 100% of its Bitcoin holdings and would classify Bitcoin as a strategic reserve asset for the U.S.
Trump is not only a supporter of the crypto market but also a personal participant. During the campaign, he received donations from crypto whales and institutions and personally engaged in several crypto projects. The income from NFT and DeFi crypto projects he participated in through OEM branding has exceeded $10 million.
According to data from the Arkham platform, as of November 5, the crypto assets held in Trump's wallet address were valued at $6.15 million, peaking at $25 million in June this year, with nearly 1,000 Ethereum held, valued at $2.38 million.
7. Opinion: Trump, Heavily Backed by Crypto Voters, May Betray This Industry
This year, the crypto industry finally has its "friend," and his name is Donald Trump. For years, this industry has been searching for a political spokesperson, someone who can guide its liberation of thought and bring its ideas to a broader audience. Now, that person is Trump.
He stood on the stage of the Nashville Bitcoin conference, expressing how much he likes people in the crypto industry. He announced the establishment of a Bitcoin strategic reserve. He promised to release Ross Ulbricht. He distributed hamburgers at PubKey in New York. He even established his own DeFi project—World Liberty Financial—and developed an internal management model (what better way to demonstrate loyalty to cryptocurrency?).
Trump said what cryptocurrencies wanted to hear and did what cryptocurrencies wanted to do, attracting millions of dollars in donations. Loudmouths rallied for him, while culture warriors expressed hatred in the performance. He occupies the political space that the Biden administration and Harris's campaign team could have claimed if they weren't so submissive to the Warren wing. Everything he says is right because Trump always says what people want him to say. He fits the goals of the crypto party perfectly because his politics can adapt to any situation, and the crypto party desperately needs a friend.
I have to admit that all of this makes me personally uncomfortable, not because I have any fondness for Harris, but because Trump has long been an unreasonable friend. He could easily take a completely opposite view on cryptocurrency if it benefits him, and he has already done so. I am very concerned about the crypto industry's embrace of Trump because I find it hard to believe that Trump's principles align with those that attracted me to cryptocurrency.
So, as an industry, what are the three reasons we should be wary of?
Crypto payments are one of the hottest sectors recently. In addition to Stripe's $1 billion acquisition of stablecoin payment startup Bridge, creating the largest acquisition in crypto history, many mainstream financial institutions have begun to accelerate 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.
- ……
Crypto payments are also showing a surge in financing. In ChainCatcher's September release of the crypto payment financing statistics article, it can be seen that crypto payment financing has recently gathered giants from various fields such as payments, stablecoins, and traditional finance. Visa, Tether, Circle, JPMorgan, and Standard Chartered are all vying to enter the market, while top-tier capital such as Sequoia Capital, Temasek, and A16Z are also placing bets.
Recently, well-known investment fund Qiming Venture Partners' investor Larry Liu published a lengthy series of articles titled "The Last Big Thing—Crypto Payments," systematically exploring the future of crypto payments from the historical transformation of payments, the current status and trends of crypto payments, and more. ChainCatcher has compiled this.
The first article in this series discusses the origins of credit card payments to modern digital transformation, exploring the panorama of traditional payment systems. The second article discusses the unique advantages of blockchain technology in payments and assesses the current state of crypto payments and the challenges they face.
This article is the final part, analyzing emerging trends and innovative solutions that can overcome existing barriers in payments. The author states that the rise of non-custodial payment solutions and the integrated development of payments and DeFi may fundamentally reshape the way value is transferred in the cryptocurrency era.
9. The Arrival of the Trump 2.0 Era: What Benefits Are Ahead and How Much Do Various Parties See?
On November 6, Trump won the U.S. election, and his return to the White House means the Trump 2.0 era is about to begin. Benefiting from his friendly attitude towards the crypto industry, BTC has repeatedly set historical highs, pushing towards the $80,000 mark, while altcoins have welcomed a long-awaited upward trend.
Due to the strong momentum of this crypto market surge, many investors are concerned that the current crypto market may be somewhat overheated. Investors who have already entered the market are also considering the market direction after Trump's victory and even making investment plans for when Trump officially takes office next year. In response, Jinse Finance has summarized the recent predictions and potential positive and negative events from various authoritative institutions regarding the future market.
10. The Wind is Rising: U.S. Regulation is Fully Shifting to "Crypto-Friendly"
As the U.S. election voting is about to conclude, as of the time of writing, according to data from FOX, Trump is temporarily leading with 248 votes, needing only 22 more votes to reach 270 and ultimately become the winner of the 2024 U.S. presidential election. Combined with Trump's previously reiterated "crypto-friendly stance," the market sentiment has rapidly shifted, and there is a strong trend in U.S. politics towards "fully embracing crypto-friendly regulation." Odaily Planet Daily will provide a brief overview of the current situation in the U.S. cryptocurrency industry for readers' reference.
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。
