Personal possession of virtual currency is not illegal, but unauthorized issuance of tokens for financing is prohibited.
Author: TechFlow
Market Dynamics
NVIDIA Q3 Financial Report: Revenue of $35.1 billion, Net Profit of $19.31 billion, both exceeding market expectations
NVIDIA released its Q3 financial report for the fiscal year 2025, reporting revenue of $35.1 billion, a 17% quarter-over-quarter increase, and a net profit of $19.31 billion, a 109% year-over-year increase, both surpassing market expectations.
The data center business generated $30.8 billion in revenue, a 112% year-over-year increase; the gaming business brought in $3.3 billion. The company expects fourth-quarter revenue to reach $37.5 billion, indicating strong demand for its next-generation AI chips from clients such as Microsoft, Google, Meta, and xAI.
The company plans to begin mass production of the Blackwell series products in Q4 of fiscal year 2025 but anticipates facing supply shortages in fiscal year 2026. Following the release of the financial report, NVIDIA's stock price fell by as much as 5% in after-hours trading due to overly high investor expectations.
Insiders: Trump’s team considers establishing the first crypto-related position in the White House
According to Bloomberg, insiders revealed that Trump’s campaign team is considering creating the first position in the White House specifically responsible for cryptocurrency policy, currently reviewing potential candidates. This position may take the form of a senior White House staff member or a "crypto czar," primarily responsible for overseeing federal cryptocurrency policy and regulation.
Insiders indicated that advocates from the crypto industry are pushing for this position to have direct access to Trump. If established, this would be the first position in White House history dedicated to the cryptocurrency sector.
MicroStrategy's market value surpasses $100 billion
According to U.S. stock trading data, MicroStrategy's market value has exceeded $100 billion, currently reaching $100.57 billion, with a stock price increase of 14.88%.
vitalik.eth exchanges 0.082 ETH for 30,303 ANON
On November 21, according to Arkham monitoring, Ethereum founder Vitalik Buterin's address vitalik.eth exchanged 0.082 ETH (approximately $249.63) for 30,303 ANON.
Vana Foundation announces establishment and launch of Vana mainnet
According to official news, the Vana Foundation has been established and will launch the Vana mainnet.
It is reported that the Vana protocol was developed in collaboration between the Vana Foundation and Open Data Labs, allowing users to contribute their private data on-chain to projects building future artificial intelligence, thus transforming it into a new valuable asset class. The network is powered by the VANA token, facilitating data verification, governance, and user-driven transactions, and operates under a privacy-preserving and permissionless framework.
Since the developer testnet launched in June 2024, the Vana network has attracted 1.3 million users, over 300 DataDAOs, and a daily trading volume of 1.7 million.
DWF Labs launches a $20 million Meme fund to support innovative Meme projects
According to Finance Feeds, DWF Labs announced the launch of a $20 million "Meme Fund" to support innovative Meme projects across multiple blockchains. The "Meme Fund" is currently accepting proposals from Meme coin projects seeking investment and guidance.
Former Director of the Technology Supervision Department of the CSRC, Yao Qian, expelled for using virtual currency for power and money transactions
According to the website of the Central Commission for Discipline Inspection and National Supervisory Commission, Yao Qian, former director of the Technology Supervision Department of the China Securities Regulatory Commission and former director of the Information Center, has abandoned his original mission, disregarded politics, sought false fame, and posed as a financial technology expert, tirelessly supporting specific technology service providers for personal gain, becoming a "key cultivated target" for hunters. He abused regulatory powers such as policy advisory rights, formulation rights, and execution rights, neglected his responsibilities in technology supervision, and sought improper benefits for others in areas such as business expansion and software and hardware procurement for information technology service institutions, using virtual currency for power and money transactions. He engaged in superstitious activities; ignored the spirit of the eight central regulations, illegally accepted valuable items such as Moutai liquor and accepted banquets; violated organizational principles by seeking benefits for others in employee recruitment; violated integrity discipline by having regulatory subjects pay for expenses that should be borne personally, illegally borrowed large sums of money from regulatory subjects, and made illegal investments in enterprises. He illegally accepted property, with particularly large amounts involved.
21Shares adds staking feature to its Ethereum Core ETP product
Cryptocurrency ETP issuer 21Shares AG announced the addition of a staking feature to its Ethereum Core ETP product, renaming it "Ethereum Core Staking ETP" (ETHC). The product is currently listed on the Swiss Stock Exchange, German Xetra Exchange, and Amsterdam Euronext, with a management fee rate of 0.21%, one of the lowest in the market.
Crypto KOL Ansem: Only buys Meme coins that continuously attract retail investors, can be listed on Binance, or have unique narratives
Crypto KOL Ansem shared his Meme coin investment strategy on platform X, stating that he currently only buys Meme projects that meet one of the following three criteria:
Can continuously attract retail investors to buy;
Has the potential to be listed on Binance;
Has a unique narrative compared to other Meme coins.
Upbit to list JASMY and NCT, and add BONK KRW trading pair
Upbit announced that it will add trading pairs for JasmyCoin (JASMY) and PolySwarm (NCT) at 15:00 local time on November 20. The new trading pairs include JASMY/BTC, JASMY/USDT, NCT/BTC, and NCT/USDT. Additionally, Upbit announced that it will add a KRW trading pair for BONK at 12:30 local time on November 20.
Shanghai High Court: Personal possession of virtual currency is not illegal, but unauthorized issuance of tokens for financing is prohibited
On November 18, the Shanghai High People's Court published an article explaining a dispute case regarding virtual currency issuance and financing service contracts. The court clearly stated that virtual currency, as a virtual commodity, has property value, and personal possession of virtual currency itself is not illegal.
A specific case showed that in 2017, an agricultural development company (Company X) signed a "Blockchain Incubation Agreement" with an investment management company (Company S) due to optimism about the development of virtual currency, paying 300,000 yuan in service fees for token issuance. The Songjiang District People's Court ultimately ruled the agreement invalid and ordered Company S to return 250,000 yuan.
The court held that token issuance financing is essentially an unapproved illegal public financing activity, involving multiple illegal and criminal activities. The involved "Blockchain Incubation Agreement" was deemed invalid due to violations of financial regulatory provisions. The court emphasized that while individuals can hold virtual currency, commercial entities must not casually participate in virtual currency investment transactions or issue tokens on their own.
Market Trends
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