Headlines
BTC briefly surpassed 93,000 USDT, setting a new historical high
Odaily Planet Daily reports that OKX market data shows BTC briefly surpassed 93,000 USDT, setting a new historical high.
US October seasonally adjusted CPI month-on-month 0.2%, expected 0.2%, previous value 0.2%
Odaily Planet Daily reports that the US October seasonally adjusted CPI month-on-month is 0.2%, expected 0.2%, previous value 0.2%.
The US October unadjusted core CPI year-on-year is 3.3%, expected 3.3%, previous value 3.3%.
The US October seasonally adjusted core CPI month-on-month is 0.3%, expected 0.3%, previous value 0.3%.
The US October unadjusted CPI year-on-year is 2.6%, expected 2.6%, previous value 2.4%. (Jin10)
Vitalik outlines the future vision of the Ethereum network, calling it a "world computer"
Odaily Planet Daily reports that at Devcon 2024 held in Bangkok, Ethereum co-founder Vitalik Buterin outlined the network's progress and future vision, focusing on decentralization, scalability, and inclusivity. In his keynote speech, Vitalik described Ethereum as a "world computer," the foundational platform for a diverse digital economy, emphasizing its role in promoting a globally decentralized economy that supports a vast on-chain ecosystem.
Vitalik highlighted Ethereum's journey from inception to becoming the foundational technology for various applications, stating that Ethereum's transition from PoW to PoS is a significant milestone. This shift has reduced the network's energy consumption and enhanced security and decentralization. He emphasized that Ethereum's PoS framework is crucial for creating fair systems, allowing for more decentralized control over the platform. (CoinGape)
Industry News
Yesterday, US Bitcoin spot ETF net inflow was $805.41 million
Odaily Planet Daily reports that according to Farside Investors data, the US Bitcoin spot ETF had a net inflow of $805.41 million yesterday.
Yesterday, US Ethereum spot ETF net inflow was $134.4 million
Odaily Planet Daily reports that according to Farside Investors data, the US Ethereum spot ETF had a net inflow of $134.4 million yesterday.
US Department of Justice accuses Polymarket of allowing US users to trade and launches investigation
Odaily Planet Daily reports that sources reveal the US Department of Justice is investigating the cryptocurrency prediction platform Polymarket, accusing it of accepting trades from US users. The FBI issued a search warrant for Polymarket CEO Shayne Coplan and seized his phone and electronic devices.
According to an agreement reached with the Commodity Futures Trading Commission (CFTC) in 2022, Polymarket will block US traders from trading on the platform.
Polymarket stated in a release that the company will "stand up for ourselves and our community," accusing the FBI's search of being politically motivated, "Polymarket is a fully transparent prediction market that helps ordinary people better understand the events that matter most to them, including elections."
The company, led by Coplan, reached an enforcement settlement with the CFTC two years ago, agreeing to block US users and pay a $1.4 million fine. The company has recently stated that it has taken additional measures to verify and block users suspected of being US citizens or residing in the US. (Bloomberg)
Odaily Planet Daily reports that Polymarket CEO Shayne Coplan responded on X regarding the investigation by the US Department of Justice: "It is frustrating that the current government would take a last-ditch effort to pursue companies they believe are associated with political opponents. We are firmly committed to a nonpartisan stance, and today is no exception, but the current government should engage in some self-reflection and recognize that taking a more business-friendly and entrepreneurial approach could change the fate of this election for them.
Polymarket has provided value to tens of millions of people during this election cycle without harming anyone. We are proud of that.
I can say with my head held high that the future of America, especially the future of American entrepreneurship, has never been brighter.
In the face of adversity, we continue to build."
FTX has filed 23 new lawsuits to recover funds, targeting Binance, SkyBridge Capital, and others
Odaily Planet Daily reports that the bankruptcy estate management of FTX has initiated 23 new lawsuits against entities including Binance, Anthony Scaramucci, SkyBridge Capital, Crypto.com, and even the lobbying group Fwd.us supported by Mark Zuckerberg, in an attempt to recover funds for creditors. These lawsuits allege that the funds transferred to these organizations are part of a larger "influence-buying campaign" orchestrated by FTX founder Sam Bankman-Fried. According to court documents, Bankman-Fried funneled money into political and traditional financial sectors through sponsorships, investments, and donations to enhance his reputation while concealing FTX's increasingly severe financial instability.
Japanese cryptocurrency exchange Coincheck plans to go public on Nasdaq in December
Odaily Planet Daily reports that Japanese brokerage and cryptocurrency exchange operator Monex Group announced that its subsidiary Coincheck Group BV (CCG) has had its registration statement (Form F-4) effective as of November 12, advancing the process for the cryptocurrency exchange to go public on Nasdaq in the US.
According to the announced schedule, the special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV (THCP) will hold a shareholder meeting on December 5, with the merger expected to take place around December 10. CCG (stock code: CNCK) is expected to begin trading on Nasdaq the day after the merger is completed.
This listing of Coincheck is achieved through its merger with THCP announced in March 2022. Initially planned to be completed in the second half of that year, it subsequently underwent three contract changes (in May 2023, May 2024, and October 2024) before finally receiving SEC approval. (CoinDesk)
Bitwise acquires Ethereum staking service provider Attestant
Odaily Planet Daily reports that Bitwise Asset Management Inc. has acquired Ethereum staking service provider Attestant, aiming to expand its business beyond its core operations, with specific terms of the deal not disclosed. After the transaction, Bitwise's asset management scale will reach $10 billion.
Additionally, Attestant's 11 employees will join Bitwise.
Bitwise CEO Hunter Horsley stated in an interview: "We are now entering a mature new chapter in this field, and I believe that at this stage, what is most useful to customers is that they want you to reach a certain scale and provide a wide range of functionalities."
He added that while currently, one-fifth of Bitwise's clients want to stake tokens to earn yields, most clients may have this demand in a few years. (Bloomberg)
A trader bought about 19.4 million PNUT and sold at a loss, missing out on $24.69 million in profit
Odaily Planet Daily reports that according to Onchain Lens monitoring, a trader purchased about 19.4 million PNUT for just 8 SOL (approximately $1,392) but ultimately sold at a loss of $681. The market cap of Pnut today is $1.4 billion, and the same amount of PNUT would be worth over $24.69 million.
Project News
Elon Musk posts an image featuring a Shiba Inu and the word DOGE
Odaily Planet Daily reports that Elon Musk posted an image featuring a Shiba Inu and the word DOGE (Department of Government Efficiency) on X, and in response to a user, he said: "Making Government Fun Again."
Coinbase adds PEPE to its coin listing roadmap
Odaily Planet Daily reports that according to Coinbase Chief Legal Officer paulgrewal.eth on X, Coinbase has added PEPE to its coin listing roadmap, aiming for a listing later today.
Cardano Foundation financial insight report: total assets approximately $478 million in 2023
Odaily Planet Daily reports that the Cardano Foundation, a non-profit organization dedicated to advancing the Cardano ecosystem, released its 2023 Financial Insights Report on November 13. The report aims to transparently showcase how the organization utilizes funds in core focus areas such as education, adoption, and resilience. It states that the total assets for 2023 amount to approximately $478 million, with 82.5% of the funds in ADA, 10.1% in BTC, and the remainder in USD. (Cointelegraph)
Mysten Labs co-founder: Sui mainnet plans to run on SCION by the end of the year
Odaily Planet Daily reports that Adeniyi Abiodun, co-founder of Mysten Labs, introduced the SCION architecture and stated that the Sui mainnet plans to run on SCION by the end of the year.
Previously, in October, it was reported that Sui became the first L1 project to run SCION (currently in the testnet), which is a powerful alternative to routing and forwarding protocols in today's internet, enhancing Sui's security and resilience.
SCION protects Sui validators from many attacks that could occur on the current internet, such as rerouting and DDoS attacks, which have caused severe outages on other networks. It enables validators to maintain consensus during attacks, increases epoch rewards, and allows full nodes to benefit from better state synchronization, avoiding bottlenecks and retry delays.
BlackRock to launch BUIDL fund on Aptos
Odaily Planet Daily reports that according to official news, BlackRock will launch the BUIDL fund on Aptos at midnight on November 14, marking the next step in its tokenized market development.
Aptos is also the only non-EVM chain for the launch of BlackRock's BUIDL. Aave, Franklin Templeton, Bitwise, and now BlackRock have chosen Aptos to provide more liquidity, broader applications, and greater DeFi opportunities for Aptos users, offering credibility, reliability, and exclusive incentives for investors choosing to purchase BUIDL on Aptos. In October, Franklin Templeton launched a U.S. government money market fund on Aptos.
Farcaster co-founder: Snapchain network to launch in Q1 2025
Odaily Planet Daily reports that Farcaster co-founder Varun Srinivasan released Farcaster's priorities for 2025: a new standard for building applications within the Farcaster framework will be launched in December 2024; Snapchain, a new network design that eliminates errors and increases throughput by 10 times or about 5000 TPS, will launch in Q1 2025; smart wallet support will be provided for Farcaster accounts; better standards will be offered to developers; and Warpcast will run another retroactive reward program in Q4.
Linea establishes Linea Association and plans to launch Linea token in Q1 2025
Odaily Planet Daily reports that the Swiss non-profit organization Linea Association, which promotes the development and governance of Linea, was officially announced on November 13 at the Devcon event in Bangkok, Thailand. Declan Fox, head of Linea products, stated that the newly established association will serve three main goals: supporting Linea technology, developing the Linea market, and further advancing Linea's decentralization roadmap. Joseph Lubin, founder of Consensys and Ethereum contributor, believes that the Linea Association is an important step towards true decentralization of the network, eliminating excessive control by any governing entity.
Additionally, the Linea Association will oversee the development and management of Linea's open-source technology and ecosystem, develop the Linea mainnet, and launch the Linea token in Q1 2025. (Cointelegraph)
Arbitrum supports ERC-7683 for cross-chain intents
Odaily Planet Daily reports that Arbitrum announced on X that it supports ERC-7683 for cross-chain intents, which will facilitate seamless interaction with multiple Ethereum chains. Arbitrum also expressed its anticipation to collaborate with teams dedicated to chain abstraction solutions.
CurveDAO launches yield-bearing stablecoin Saving crvUSD
Odaily Planet Daily reports that according to official news, CurveDAO has launched the yield-bearing stablecoin Saving crvUSD (scrvUSD). This new savings module will serve as an expansion engine for Curve's issued stablecoin crvUSD, allowing market participants to directly engage in its monetary policy, enabling users to earn "low-risk" automatic compound interest on their crvUSD deposits.
DWF Labs receives 10 million NIKO intended for market making, accounting for 1% of total supply
Odaily Planet Daily reports that according to Lookonchain monitoring, DWF Labs received 10 million NIKO intended for market making, accounting for 1% of the total supply, valued at approximately $495,000. Previously, the DWF Labs wallet also received 11.194 billion X tokens for market making, valued at $35.6 million.
Regulatory Trends
Former SEC Chairman: Cryptocurrency legislation may emerge during Trump's presidency
Odaily Planet Daily reports that former SEC Chairman Jay Clayton stated on Wednesday that the U.S. Congress may pass legislation regulating cryptocurrency after Trump takes office. Clayton also expressed support for easing regulatory burdens to encourage companies to go public, indicating a broad change in public policy that the industry is currently anticipating, for which they have spent significant amounts to influence this month's presidential election. (Jin10)
Wall Street expects the Federal Reserve to cut rates again at its final meeting of the year
Odaily Planet Daily reports that the pace of U.S. inflation appears to have lost momentum, which may raise questions about how aggressively the Federal Reserve will cut rates early next year. The market expects the U.S. October CPI index to rise by 0.2% month-on-month, with some on Wall Street predicting a rise of 0.3%, matching the largest increase in the past six months. Meanwhile, the year-on-year growth rate may rise from 2.4% to 2.6%, marking the first increase in eight months.
However, even if the October CPI inflation data is strong, Wall Street still expects the Federal Reserve to cut rates again at its final meeting of the year in December. But January will be when concerns begin to escalate. (Jin10)
ARK Invest believes Trump's administration will reopen IPO window for U.S. crypto companies
Odaily Planet Daily reports that ARK Invest stated in its latest newsletter that Trump's return to the White House could allow digital asset companies like Circle and Kraken to go public and achieve regulatory clarity. ARK Invest wrote, "Possibilities include reopening the IPO window for digital asset companies like Circle and Kraken." The firm noted that potential legislative reforms, such as the Financial Innovation and Technology for the 21st Century Act (FIT21), could clarify regulatory provisions for stablecoins and digital assets. Additionally, the asset management company expects the SEC Chairman Gary Gensler's "enforcement-centric" approach to end, which could create a more competitive environment for cryptocurrency companies. (BeInCrypto)
Federal Reserve Governor Waller questions the payment utility of CBDCs
Odaily Planet Daily reports that Federal Reserve Governor Christopher Waller expressed skepticism about whether the U.S. payment system needs a central bank digital currency (CBDC) during the 2024 Clearinghouse Annual Meeting held on November 12, questioning whether there are problems that a CBDC could solve.
He stated, "In a speech I gave in August 2021, I asked, what problem does a CBDC solve? In other words, what market failures or inefficiencies require this specific intervention? For over three years, I have not heard a satisfactory answer regarding CBDCs."
Waller advocates for market-driven solutions, emphasizing the benefits of private sector competition in promoting innovation in the payment system.
He stated that the private sector, driven by profit and competition, often makes better decisions in determining which technologies are worth investing in and which may not meet consumer needs.
Waller further stated that the government's role should remain supportive until clear needs that the private sector cannot meet are identified, rather than directly competing with private payment innovations. (CryptoSlate)
Investment and Financing
Odaily Planet Daily reports that the crypto AI startup Zero Gravity Labs (0G Labs or 0GL) has announced the completion of a $40 million financing round and secured a $250 million token purchase commitment. This round of financing was led by Hack VC, Delphi Digital, OKX Ventures, Samsung Next, Bankless Ventures, Animoca Brands and its co-founder Yat Siu, Polygon and its co-founder Sandeep Nailwal, Stanford Blockchain Fund, Abstract VC, Alchemy, Blockdaemon, Foresight Ventures, among others. (TheBlock)
Web3 game company Monster League Studios completes €3.7 million financing
Odaily Planet Daily reports that Monster League Studios, the Barcelona-based Web3 game company behind the blockchain game Mokens League, has announced the completion of €3.7 million in financing, with investor information not yet disclosed. The new funds are intended to support the development of the Mokens League game ecosystem, including in-game purchases, player rewards, and the use of utility tokens. It is reported that the company has already received Google incubation this year. (eu-startups)
Tranched completes $3.4 million financing, led by Speedinvest
Odaily Planet Daily reports that London-based blockchain embedded asset financing platform Tranched has announced the completion of $3.4 million in financing, led by Speedinvest, with participation from startup accelerator a16z CSX, Blockwall, Kima, and OVNI Capital. Specific valuation information has not been disclosed. Tranched aims to simplify the asset financing process through blockchain technology, eliminating the structural complexities and high costs associated with securitization. The new funds will support its expansion from Europe to lenders, credit funds, asset management companies, and banks.
BIO Protocol completes $2.9 million Genesis Round 2.5 community financing
Odaily Planet Daily reports that according to official news, the DeSci project BIO Protocol has announced the completion of $2.9 million in community token financing for Genesis Round 2.5, with the total value of assets exchanged for BIO by users reaching $2.93 million. This investment marks Binance Labs' first investment in the DeSci field. BIO Protocol aims to leverage blockchain technology to transform the financing and commercialization of early scientific research.
Odaily Planet Daily reports that the social competitive platform MiniTon has announced the completion of its seed round financing. This round was participated in by Waterdrip Capital, Alchemy Pay, CGV, Web3Port Foundation, PangDAO Head Ricky, OGBC Innovation Hub Founder Jayden Wei, among others. MiniTon is a project initiated with funding from the TON Foundation.
MiniTon will use this financing to complete the development of the product's Alpha version and test core metrics. Currently, MiniTon has successfully completed 360,000 competitive match tests, of which 30,000 are on-chain events. By charging a commission from participating players, the unit user revenue model has achieved profitability.
MiniTon provides developers with an on-chain profit solution called "Tournaments as a Service (TaaS)" to help casual games build their commercialization capabilities after entering Web3. At the same time, MiniTon has restructured the supply relationship of liquidity in the game to address the sustainability issues of the GameFi business model, based on BondingCurve pricing curves, allowing investors to connect with players by predicting match outcomes.
Voices
Crypto.com CEO: Bitcoin may need to deleverage before hitting $100,000
Odaily Planet Daily reports that Kris Marszalek, co-founder and CEO of Crypto.com, warned that the current Bitcoin leverage ratio (the amount of borrowed funds used for trading positions) has reached unsustainable levels. He stated on X: "Before hitting $100,000, leverage needs to be cleaned up. Please manage risks carefully."
CryptoQuant data shows that the estimated leverage ratio for Bitcoin across all cryptocurrency exchanges is 0.217, reaching its highest level since October 2023. (Cointelegraph)
Odaily Planet Daily reports that José Maria Macedo, founding partner of Delphi Ventures, stated on X that after reading the X post by Ambient founder Doug Colkitt (note: Colkitt had predicted the content of the proposal by Ethereum Foundation core researcher Justin Drake yesterday), he was initially excited about the vision for ETH 3.0, but Justin Drake's actual proposal was disappointing. It is essentially a restructured codebase that achieves a 4-second block time and quantum resistance, features that will be realized in 2029-2030. These upgrades alone are not enough to make Ethereum Layer 1 competitive, nor are they convincing enough to believe it is competitive. The Ethereum Foundation needs to have a bigger dream.
Note: Yesterday, Justin Drake proposed the Ethereum consensus layer upgrade proposal "Beam Chain" at the Devcon conference.
The ETF Store president: Spot DOGE ETF application "seems inevitable"
Odaily Planet Daily reports that Nate Geraci, president of The ETF Store, stated on X: "The arrival of the spot DOGE ETF application seems inevitable… 2025 will be a crazy year."
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