Headlines
ME Token Economics Announced: Total Supply of 1 Billion Tokens, TGE Initial Claim Ratio of 12.5%
The ME Foundation has announced the ME token economics, with a total supply of 1 billion tokens. The token distribution will be released over 4 years, with more than half allocated to the community. The initial ME claim ratio at TGE is 12.5%, with 37.7% for the community and ecosystem, 26.2% for contributors, and 23.6% for strategic participants. ME will be fully distributed within 4 years, at which point all ME tokens will be in circulation, with the majority allocated to the community.
MicroStrategy Buys 51,780 BTC Again, Current Holdings Reach 331,200 BTC
According to a post by Michael Saylor on X platform, MicroStrategy has used funds from stock sales to purchase 51,780 BTC again, worth approximately $4.6 billion, at an average price of $88,627. As of November 17, MicroStrategy's Bitcoin holdings have reached 331,200 BTC, valued at about $16.5 billion.
Musk: Still Holds a Lot of Dogecoin, SpaceX Also Still Holds Bitcoin
In an audio clip shared by Dogecoin UI designer DogeDesigner on X platform, Musk stated, "I still hold a lot of Dogecoin, and SpaceX also still holds Bitcoin." It is important to note that DogeDesigner did not specify when Musk made this statement.
Binance Pool Launches Fractal Bitcoin (FB) Merged Mining
According to an official announcement, Binance Pool has officially launched the Fractal Bitcoin (FB) merged mining service. Users can start mining Bitcoin (BTC) and receive Fractal Bitcoin (FB) rewards starting November 18, 2024. Fractal Bitcoin (FB) is currently not listed on Binance.com, and the FB mining service on Binance Pool does not guarantee FB trading on Binance.com.
Industry News
Heather Morgan, Accomplice in Bitfinex Hacking Case, Sentenced to 18 Months in Prison
U.S. District Judge Colleen Kollar-Kotelly sentenced Heather Morgan (rapper "Razzlekhan"), one of the suspects in the Bitfinex hacking case, to 18 months in prison during a hearing on November 18. In August 2023, Morgan pleaded guilty to conspiracy to commit money laundering and fraud; she is the wife and accomplice of hacker Ilya Lichtenstein, who stole 120,000 BTC from the cryptocurrency exchange Bitfinex in 2016 and laundered the funds.
BIT Mining Agrees to Pay $10 Million Fine for Bribing Japanese Officials, $4 Million to SEC
The U.S. SEC announced on Monday that cryptocurrency mining company BIT Mining Ltd. (formerly 500.com Limited) has agreed to pay a $4 million fine to settle allegations of bribing Japanese officials. The SEC noted that BIT Mining paid $2.5 million in cash bribes and gifts to Japanese lawmakers between 2017 and 2019 in an attempt to win bids for establishing casino resorts in Japan.
Binance Clarifies: "Reward-type" BFUSD Asset is Not a Stablecoin and Has Not Been Launched
On Monday, Binance announced an upcoming asset called BFUSD, which some industry insiders likened to a high-yield stablecoin (with an annual yield of 19.55%). Binance later clarified that despite the "USD" suffix in the name, the asset is not a stablecoin.
Project News
Japanese Crypto Exchange DMM's Gaming Company to Shut Down Seamoon Protocol
DMM Crypto, the gaming and NFT division of Japanese cryptocurrency exchange operator DMM, will shut down its Seamoon Protocol. The company announced that no new services will be added to the ecosystem, and future arrangements for existing services on the platform are under discussion.
Tether Announces Upcoming Investment in Quantoz Payments to Launch MiCAR-compliant Stablecoins
According to official news, Tether announced an upcoming investment in Quantoz Payments to launch MiCAR-compliant electronic money tokens (EMT) EURQ and USDQ for euros and dollars, respectively. Tether has not disclosed the amount of its investment, while Quantoz will use Tether's Hadron asset tokenization platform.
Modular trading protocol Valantis announced the completion of a $7.5 million Pre-Seed + Seed round of financing, led by SevenX Ventures, Cyber Fund, and Kraken Ventures, with participation from Semantic Ventures, Figment Capital, Monoceros, Robot Ventures, and Credibly Neutral, among others. Angel investors include Anthony Sassano, Sandeep Nailwal, DeWhales Capital, Nathan Worsley (DeFi Cartel), and others.
HopeLend Launches Full Compensation Process, Users Must Fill Out Forms Within 3 Months
HopeLend has officially launched the full compensation process for users who suffered losses from a previous hacking incident, fulfilling its promise to users. Affected users must fill out a repayment application form, and HopeLend will verify whether the provided address is the one owed by the Lend protocol. After verification, transfers will be made directly, and users will not need to take any action. Compensation will be settled in the original currency, with all HOPE native tokens converted to BTC / ETH / USDT / USDC based on the original minting ratio, and HOPE native tokens will be converted to the aforementioned currencies for payment.
BIO Protocol Roadmap: Plans to Launch Launchpad Testnet in Q4 and Expand vBIO to Solana
According to the roadmap shared by community user @zacxbt for the DeSci project BIO Protocol, upcoming goals include: Q4 2024: Launchpad testnet, vBIO expansion to Solana; Q1 2025: Cohort 2 BioDAO incubation, BIO Protocol Launchpad, BIO token transferability, BIO liquidity pairings; Q2 2025: Cohort 2 community auction, BIO research agents; Q3 2025: Launch of new BioDAO.
Voices
Analyst: Ethereum Establishes Strong Demand Zone Around $3,000, May Support a Rebound
According to crypto analyst Ali's analysis on X platform, Ethereum has established a strong demand zone around the $3,000 range, with 2.82 million addresses holding over 6.14 million ETH. This key support level may pave the way for ETH to rebound to higher highs.
Bank of America Securities strategists expect that Nvidia's earnings report, set to be released this Wednesday, will bring greater volatility compared to the upcoming non-farm payroll data, consumer price index, or Federal Reserve decisions. They urged clients to hedge against potential impacts in case the earnings report is disappointing. The team, including Gonzalo Asis and Kwon Oh-seong, stated in a report to clients on Monday: "The market took a breather after the post-election rally last week, and we believe Nvidia's earnings report will determine the market's recent trend." Bank of America Securities strategists noted that when Nvidia releases its earnings report on November 20, the implied volatility of the S&P 500 index aligns with Nvidia's own implied volatility, indicating that the risks from the earnings report are higher than the upcoming employment and inflation data or Federal Reserve meeting. (Jin Shi)
Bitfinex Alpha: Market Interest in Bitcoin is Reaching Mainstream Asset Levels
Bitfinex released a report indicating that there was a significant shift in the Bitcoin market last week, with prices rising to a historic high of $93,318 and a market capitalization reaching $1.8 trillion. BTC has surpassed silver to become the eighth-largest asset globally by market capitalization. This increase not only represents the strongest 9-day gain for Bitcoin since January 2021 but is also likely the largest short-term capital inflow ever recorded for any asset class. This momentum suggests that interest in Bitcoin is reaching levels typically reserved for mainstream assets.
Bloomberg Analyst: Ethereum ETF Has Emerged from the Outflow Abyss After Trump's Victory
Bloomberg senior ETF analyst Eric Balchunas posted on the X platform that the Ethereum ETF has emerged from the outflow abyss following Trump's victory, finally welcoming fresh air and net inflows. According to Bloomberg Intelligence data he presented, the cumulative fund flow for the Ethereum ETF has turned positive.
TD Securities: Market Pricing of the Fed's Long-Term Policy Will Gradually Moderate
Analysts at TD Securities stated that the fate of the global interest rate market will ultimately depend on the Federal Reserve. TD Securities expects the Fed to further cut interest rates, which means that U.S. Treasury yields and other bond yields will decline. In a report, they said: "We expect that as the easing cycle progresses, the pricing of the Fed's long-term policy will gradually moderate, and the impact of declining Treasury yields will also transmit to other developed market bond markets." (Jin Shi)
Vitalik: Hope to See More EVM Rollups Improve Data Efficiency
Ethereum co-founder Vitalik Buterin posted on the X platform that part of L2 scaling involves Ethereum increasing its blob capacity, while another part is that Rollups become more data-efficient. He expressed pleasure in seeing Starknet rise to the challenge and hopes to see more EVM Rollups improve data efficiency.
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