AICoin Focus: Daily Hot Picks (November 21)

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1. U.S. national debt reaches historic high, raising market concerns.

2. Trump team considers establishing the first cryptocurrency position in the White House, showing interest in digital assets.

According to BlockBeats, on November 21, market news reported that the Trump team is considering establishing the first cryptocurrency position in the White House. -Original

3. MicroStrategy announces its largest Bitcoin purchase plan to date, driving a surge in trading volume.

On Wednesday, MSTR surpassed SPY and TSLA to become the stock with the largest trading volume measured in U.S. dollars. Previously, MicroStrategy had just completed its latest bond issuance and announced its largest Bitcoin purchase plan to date. -Original

4. U.S. Securities and Exchange Commission (SEC) delays decision on Franklin Crypto Index ETF, market awaits further news.

Franklin Templeton submitted a registration statement for the Franklin Crypto Index ETF to the agency in August, which will hold both Ether and Bitcoin. According to a document released on Wednesday, the SEC decided to delay its decision on whether to approve, disapprove, or "initiate litigation." -Original

5. Swiss Financial Market Supervisory Authority (FINMA) warns of rising money laundering risks in cryptocurrency, emphasizes need for stronger regulatory measures.

The Swiss Financial Market Supervisory Authority (FINMA) expressed concerns over the increasing money laundering risks in the cryptocurrency sector. The warning is detailed in FINMA's 2024 risk monitoring report, highlighting the growing misuse of digital assets such as cryptocurrencies and stablecoins for illegal activities. The report notes that stablecoins are increasingly used for illicit transactions, such as evading sanctions. This trend complicates law enforcement efforts and increases legal and reputational risks for financial institutions without sound risk management strategies. The regulator emphasizes the need for stronger measures to address vulnerabilities related to the misuse of digital assets. To this end, FINMA has implemented measures for institutions to mitigate these risks, including targeted supervision and enhanced risk management requirements. Broader efforts include on-site inspections and revised audit plans aimed at strengthening anti-money laundering measures. The regulator also calls for clear definitions of risk tolerance and effective risk management practices, especially for institutions dealing with politically exposed persons or high-risk industry clients. -Original

6. Federal Reserve's Barr plans to complete full term as regulatory vice chair, market continues to focus on regulatory policies.

According to market news, Federal Reserve's Barr plans to complete his full term as regulatory vice chair. -Original

7. Ethereum spot ETF experiences continued net outflows, raising investor concerns about market liquidity.

Yesterday (Eastern Time, November 19), the total net outflow from Ethereum spot ETFs was $81.2042 million. Yesterday, Grayscale's Ethereum Trust ETF ETHE saw a net outflow of $20.3627 million, with a historical net outflow of $3.277 billion. Grayscale's Ethereum Mini Trust ETF ETH had a net outflow of $0.00 yesterday, with a historical total net inflow of $375 million. As of the time of writing, the total net asset value of Ethereum spot ETFs was $9.099 billion, with an ETF net asset ratio (market value compared to total Ethereum market value) of 2.44%, and a historical cumulative net inflow of $58.1112 million. -Original

8. BlackRock's IBIT Bitcoin holdings market value surpasses $44 billion, setting a new record.

As of November 19, the Bitcoin holdings of its Bitcoin exchange-traded fund IBIT reached 474,627 BTC, with a market value rising to $44,205,476,379, setting a new record. -Original

9. South Korean financial regulators refuse to approve ETFs investing in cryptocurrency companies, showing a cautious attitude towards crypto assets.

South Korean financial regulators have not only banned the issuance of cryptocurrency ETFs for spot and futures products but also rejected funds investing in cryptocurrency companies, including exchanges. A head of an asset management company stated that their proposal to establish a fund investing in cryptocurrency companies was rejected by the Financial Supervisory Service (FSS). He mentioned that his company is preparing to launch an ETF focused on the U.S. cryptocurrency exchange Coinbase and similar companies, but is still waiting for local regulatory approval. Meanwhile, an FSS official acknowledged the growing demand for Bitcoin investments but stated that regulatory easing would not occur unless the government's current policies change. -Original

10. Archax announces the provision of tokenized money market funds supported by State Street and others, promoting digital asset innovation.

UK-compliant cryptocurrency exchange Archax announced it will offer tokenized money market funds supported by State Street, Fidelity International, and Legal & General Investment Management (LGIM). The first batch of tokenized assets will be issued on the Hedera Hashgraph, XRPL, and Arbitrum blockchains, representing asset ownership through tokenized rights held by clients. In the future, Archax also plans to add more types of fund products. Notably, traditional financial giants such as BlackRock, Franklin Templeton, and Abrdn have also launched tokenized funds. Archax previously acquired the Spanish brokerage King & Shaxson Capital Markets (KSCM), pending approval from Spanish regulators. -Original

11. Tesla chairman sells part of his stock amid soaring share prices, raising market attention.

According to BlockBeats, on November 20, Tesla chairman Robyn Denholm cashed out over $35 million in stock this month, coinciding with the stock's surge following the U.S. elections. Regulatory filings show that Denholm exercised 112,390 stock options set to expire next year and sold the shares on November 15. She had pre-arranged these transactions in July through a trading plan that U.S. company insiders can use to sell stock. Considering the exercise cost, Denholm netted approximately $32.5 million from this stock sale. -Original

12. Solana's on-chain transaction volume hits a historic high, but most activity is claimed to be driven by bots.

The Solana blockchain recently saw its on-chain transaction volume reach a historic high, but market intelligence firm Glassnode claims that most of the activity is driven by bots. Glassnode noted in a post on X on November 19 that Solana's transaction volume hit a historic high of $318 billion on November 16, nearly three times the total market cap of SOL ($112.5 billion). The total number of active addresses on Solana has surged to 22 million. However, Glassnode pointed out that the average transaction volume and median transaction volume declined during the same period. This raised questions about the authenticity of Solana's metrics, as organic growth should be accompanied by similar increases in averages. To explain this phenomenon, Glassnode stated, "This pattern of network activity inflation may indicate bot-driven activity, which has historically led to similar trends for Solana." The increase in activity may be the reason for the recent rise in fees and network revenue. Data from DefiLlama shows that on November 20, Solana's daily revenue hit a historic high of nearly $6 million, with network participants paying $7.63 million in transaction fees. Additional data from Blockworks Research shows that on November 19, Solana's Real Economic Value (REV) reached a historic high of $26 million. -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AICoin (aicoin.com)

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