News Preview:
- Magic Eden: The economic model of ME will be officially released on November 18;
- Avalanche (AVAX) will unlock approximately 1.67 million tokens at 8 AM Beijing time on November 18, accounting for 0.41% of the current circulation, valued at about $61.3 million;
- Binance Launchpool and pre-market trading will launch Usual (USUAL) on November 19;
- FTX co-founder Gary Wang will be sentenced on November 20;
- Ethereum L2 network Lisk has launched its mainnet and will initiate an airdrop on November 21;
- OKX will launch MEMEFI (MemeFi) spot trading on November 22;
- Sotheby's auction house will start the auction for Maurizio Cattelan's banana artwork on November 21 and will accept cryptocurrency payments.
November 18
Exchanges:
Coinbase insiders plan to sell over $900 million in stock, expected to start on November 18
Global executives and directors at Coinbase have approved a trading plan to sell over $900 million worth of shares in the cryptocurrency trading platform. Three Coinbase executives and two directors will sell up to 5 million shares. Based on Friday's closing price of $182.88, these shares are valued at a total of $909 million. Insiders at the company adopt such plans to avoid accusations of bias due to possessing non-public information. The plan will automatically execute trades when specific conditions such as price, volume, and time are met. Coinbase disclosed the adoption of these trading plans in a filing with the Securities and Exchange Commission on October 30. The plan is expected to start on November 18 and end no later than November 14, 2025.
Project Updates:
Magic Eden: The economic model of ME will be officially released on November 18
According to an official announcement from Magic Eden, the token economics model for its token $ME will be officially released on November 18.
McDonald's and NFT brand Doodles will launch a co-branded coffee cup across the U.S. on November 18
Fast food giant McDonald's has partnered with NFT brand Doodles to launch a co-branded coffee and collectibles series, including limited edition Doodles cups, available to U.S. customers at 13,500 McDonald's locations nationwide.
Token Unlocking:
Avalanche (AVAX) will unlock approximately 1.67 million tokens at 8 AM Beijing time on November 18, accounting for 0.41% of the current circulation, valued at about $61.3 million.
November 19
Exchanges:
Binance Launchpool and pre-market trading will launch Usual (USUAL) on November 19
Binance Launchpool has now launched its 61st project - Usual (USUAL), a decentralized fiat stablecoin issuer.
Pre-market trading for Usual (USUAL) will be listed at 6 PM (UTC+8) on November 19, and the USUAL/USDT trading market will be opened. Eligibility for participating in Binance pre-market trading depends on the user's country or region of residence. The maximum individual holding limit is 40,000 USUAL. The total supply and maximum supply of Usual (USUAL) tokens is 4 billion, with a Launchpool token reward of 300 million tokens (accounting for 7.5% of the total supply), and the initial circulating supply at Binance listing will be 494.6 million tokens (accounting for 12.37% of the total supply).
Project Updates:
The BNB Chain team will complete the BNB Beacon Chain (BEP2) network merger plan on November 19
The BNB Chain team will complete the BNB Beacon Chain (BEP2) network merger plan at 2 PM (UTC+8) on November 19, 2024. Binance strongly recommends that users deposit B-tokens from the BEP2 network into their Binance accounts before 2 PM (UTC+8) on November 19, 2024, before the completion of the BNB Beacon Chain (BEP2) network merger plan. These tokens will be credited, and users can withdraw them through their native chain or other networks supported by Binance.
Bitwise will launch the world's first Aptos Staking ETP on the Swiss Stock Exchange on November 19
Bitwise Asset Management announced that the Bitwise Aptos Staking ETP (stock code: APTB; ISIN DE000A4AJWU3) is scheduled to be listed on the Swiss Stock Exchange on November 19, 2024. This product will become the world's first Aptos Staking ETP.
Optimism posted on the X platform that up to 3.5 million OP will be allocated to contributors of Optimism Governance during the 5th and 6th seasons, meaning contributors from October 2023 to September 18, 2024, will receive rewards. The announcement date is November 19.
Token Unlocking:
Oasis (ROSE) will unlock approximately 17.6 million tokens at midnight Beijing time on November 19, accounting for 2.62% of the current circulation, valued at about $14.6 million.
Pixels (PIXEL) will unlock approximately 54.37 million tokens at 6 PM Beijing time on November 19, accounting for 7.05% of the current circulation, valued at about $11.4 million.
Hatom (HTM) will unlock approximately 1.07 million tokens at 8 AM Beijing time on November 19, accounting for 2.41% of the current circulation, valued at about $1.1 million.
November 20
Exchanges:
FTX co-founder Gary Wang will be sentenced on November 20
Like his former FTX colleague who became a government witness, Gary Wang provided "outstanding" assistance to federal prosecutors in the case against FTX founder Sam Bankman-Fried (SBF). Prosecutors stated that Wang created "tools" to help the U.S. government detect other fraudulent activities while seeking leniency for him.
In the sentencing documents submitted by federal prosecutors, it was stated: "Wang also provided substantial assistance—and took steps to correct past mistakes in the process—using his extraordinary computer programming skills to detect potential fraud in the stock and cryptocurrency markets. Unlike other co-conspirators, Wang did not lie to clients, lenders, or investors, nor did he spend client money." Although prosecutors did not make specific sentencing recommendations, the submitted documents requested the court to consider Wang's outstanding cooperation. Prosecutors also noted that Wang was the first FTX insider to cooperate with them, despite little written evidence linking Wang to fraudulent activities. Gary Wang is scheduled to be sentenced on November 20 for his role in the FTX collapse.
The bankrupt cryptocurrency exchange FTX has reached a settlement agreement with Evolve Bank and the Silicon Valley Community Foundation (SVCF), aiming to recover approximately $21 million in assets. Court documents from October 30 indicate that these settlement agreements still require court approval, with a hearing scheduled for November 20. Under the terms of the settlement, Evolve Bank will return approximately $12.77 million to FTX and retain $462,700 as compensation fees. Additionally, the bank will waive all claims against FTX. The Silicon Valley Community Foundation has agreed to return $8.57 million in cash and 34,208.70 FTT tokens to avoid litigation. The foundation previously raised some funds through the sale of donated FTT for external donations and now retains a portion of the balance.
Additionally, Three Arrows Capital seeks to increase its claim against FTX to $1.53 billion, and the court hearing will discuss Three Arrows Capital's motion to amend its claim.
MapleStory Universe: The second test will start on November 20
MapleStory Universe announced on the X platform that the second test will start on November 20, with 5,000,000 NXPC tokens as rewards during the 10-day public testing period.
Web3 shooting game XOCIETY's new round of testing will launch on November 20
Web3 shooting game XOCIETY announced on the X platform that a new round of game testing will launch on November 20, with pre-registration available on the evening of November 12.
Token Unlocking:
Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3 AM Beijing time on November 20, accounting for 0.69% of the current circulation, valued at about $3.2 million.
SKALE (SKL) will unlock approximately 55 million tokens at 8 AM Beijing time on November 20, accounting for 1.06% of the current circulation, valued at about $2.5 million.
Hooked Protocol (HOOK) will unlock approximately 4.17 million tokens at 8 AM Beijing time on November 20, accounting for 2.05% of the current circulation, valued at about $1.8 million.
November 21
The Dutch government is seeking public opinion on a cryptocurrency tax monitoring law aimed at aligning its data collection rules for cryptocurrency service providers with the European Union. The Dutch Ministry of Finance stated in a press release on October 24 that the proposal aims to increase the transparency of cryptocurrency ownership to prevent tax evasion and avoidance.
According to the proposal, the Dutch Tax Authority (Belastingdienst) will share user data collected by cryptocurrency service providers with tax authorities in other EU countries, in line with the DAC8 cryptocurrency tax reporting rules passed by the EU last year. This rule simplifies the administrative burden for cryptocurrency service providers, requiring them to report only in the EU member state where they are registered. The Dutch government plans to submit the bill to Parliament in the second quarter of 2025, while hoping to enhance the transparency of cryptocurrency assets to tax authorities through data sharing to prevent tax revenue loss. The deadline for submitting relevant opinions and suggestions is November 21.
Exchanges:
Binance is expected to suspend token deposits and withdrawals for the Filecoin (FIL) network at 6 AM (UTC+8) on November 21, 2024, to support its network upgrade. The project team will conduct the network upgrade at block height 4,461,240 (expected at 7 AM UTC+8 on November 21, 2024).
Project Updates:
Ethereum L2 network Lisk has launched its mainnet and will initiate an airdrop on November 21
The Ethereum Layer 2 network Lisk has launched its mainnet and announced an airdrop plan. Lisk launched its testnet in February this year and has transitioned from Layer 1 to Layer 2. Along with the mainnet launch, Lisk plans to airdrop 15 million LSK tokens, with the airdrop event starting on November 21 and lasting for four months in the first season. Users can earn points by completing tasks on the Lisk platform, and the total points will determine the amount of LSK they receive. The Lisk airdrop aims to provide a seamless, engaging, and educational experience. Lisk was first launched as a Layer 1 blockchain in 2016 and transitioned to a Layer 2 based on Optimism in December 2023 to support real-world assets and decentralized infrastructure networks.
Sotheby's auction house will begin the auction for artist Maurizio Cattelan's artwork, a banana taped to the wall titled "banana & tape," on November 21, accepting cryptocurrency payments, with an estimated value of $1 million to $1.5 million.
OpenAI will hold its final DevDay event in Singapore on November 21
OpenAI announced that this year's DevDay events will take place on October 1 in San Francisco, October 30 in London, and November 21 in Singapore. This event will not release GPT-5 but will focus on updates to APIs and developer services. The event will include workshops, panel discussions, and live demonstrations, with a registration fee of $450, and registration has closed.
Token Unlocking:
Cardano (ADA) will unlock approximately 18.53 million tokens at 8 AM Beijing time on November 21, accounting for 0.05% of the current circulation, valued at about $13.4 million.
Ethena (ENA) will unlock approximately 12.86 million tokens at 8 AM Beijing time on November 21, accounting for 0.45% of the current circulation, valued at about $7.4 million.
Tribal Token (TRIBL) will unlock approximately 9.6 million tokens at 8 AM Beijing time on November 21, accounting for 7.42% of the current circulation, valued at about $1.4 million.
November 22
Exchanges:
OKX will launch MEMEFI (MemeFi) spot trading on November 22
OKX is about to launch MEMEFI (MemeFi) spot trading. MEMEFI is a community-driven token used for both the MemeFi Web3 application and the MemeFi Telegram advertising network. The specific schedule is as follows:
- MEMEFI deposit opening time: November 11 at 6:00 PM (UTC+8)
- MEMEFI collection auction time: November 22 from 8:00 PM to 9:00 PM (UTC+8)
- MEMEFI/USDT spot trading opening time: November 22 at 9:00 PM (UTC+8)
- MEMEFI withdrawal opening time: November 23 at 9:00 PM (UTC+8)
Project Updates:
Fuel: Users need to migrate assets by November 22 to retain first-quarter points
The Ethereum modular execution layer Fuel announced that users must migrate their Fuel Points Phase 1 assets from Ethereum to Fuel Ignition by November 22 at 11:59 PM (UTC) to retain their Phase 1 points. If users miss the migration deadline, they can still migrate assets to Fuel Ignition but will lose their Phase 1 points eligibility. Users can also choose to withdraw their funds entirely. The project team stated that regardless of the migration status, Phase 2 Fuel Points will not be affected.
Token Unlocking:
SPACE ID (ID) will unlock approximately 18.49 million tokens at 8 AM Beijing time on November 22, accounting for 4.29% of the current circulation, valued at about $8.3 million.
November 23
None
November 24
None
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