Headlines
pump.fun 24H revenue exceeds Solana, Circle, and Ethereum
DefiLlama data shows that pump.fun's 24H revenue is $5.31 million, ranking second only to Tether, surpassing Solana, Circle, and Ethereum.
Pumpfun disables live streaming feature
According to market news, Pumpfun has disabled its live streaming feature.
Vitalik: Crypto is a secure foundation, Crypto + DeAI may save the world
In an interview with Tencent's "Perspective," Ethereum co-founder Vitalik shared his views on the intersection of Crypto and the AI industry, stating: "The role of Crypto is to create a game, and the game you create may have many objectives. Trading can be considered a game. Another example is the prediction market; this year Polymarket (a prediction market project) has been quite successful. Crypto can create a game that safely executes game rules through smart contracts, and AI can participate in this game. If only humans participate, sometimes the efficiency is not high enough. For example, in the prediction market, I have been playing a lot on Polymarket this year. I found that four years ago, their result quality was not very high, but this year it is much better than four years ago. Why? One reason is that there is more liquidity. Last year it might have been $1 million or $10 million, this year it could be $100 million or $200 million. But I also found that this year, in matters with low liquidity, the answers are also quite good. So, it is very likely that AI is participating now. The reaction speed of AI is very fast. A person doing this needs to be on the computer 24 hours a day, watching all the news every minute and second. But an LLM, you let it run, it can do it by itself. I believe there will be more examples in the future, possibly in the social field, possibly in other areas. Crypto is a secure foundation, and through Crypto, a game can be created to ensure that the rules of the game are fair. The role of AI is to participate." Additionally, he mentioned: "If you want to see how Crypto can save the world? It cannot be just Crypto, but Crypto + some other things. So what is Crypto +? The first possibility is Crypto + Decentralized AI; the second possibility is Crypto + a technology that can replace AI."
Finally, he believes: "If issuing a coin and creating an exchange is all we do, then this industry has failed. Before this year, transaction fees were too high, some important technologies were not mature, account security issues were unresolved, privacy issues were unresolved, and many problems were not solved. So, before this year, our industry did not have enough technology to create applications that ordinary people could participate in. The only successful application is DeFi, partly because DeFi can earn more money. This year, we have finally started to solve these problems. This year is the best time to create meaningful applications."
Sun Yuchen invests $30 million in Trump family's crypto project WLFI, becoming its largest investor
Sun Yuchen announced a $30 million investment in the Trump family's crypto project World Liberty Financial (WLFI), becoming its largest investor. He also stated that the U.S. is becoming the center of blockchain, thanks to Trump's support for Bitcoin.
According to Farside Investors data, Bitwise BITB experienced a net outflow of $280.7 million yesterday, setting a record for its highest single-day outflow.
Public company Rumble plans to use its cash reserves to buy $20 million in Bitcoin
NASDAQ-listed company Rumble, a video sharing and cloud services platform, announced that as part of its new financial diversification strategy, it plans to invest up to $20 million of its excess cash reserves in Bitcoin. The board has approved this allocation, aiming to position Bitcoin as a strategic asset and inflation hedge in its finances.
The company plans to integrate cryptocurrency into its ecosystem, supporting Rumble's mission to build independent infrastructure and promote an open internet.
The Bitcoin purchase will be decided by management, considering market conditions, Bitcoin's trading price, and the company's cash flow needs. (CryptoBriefing)
Industry News
ETF provider WisdomTree has registered an XRP ETF in Delaware, USA
According to Fox Business reporter Eleanor Terrett's post on X platform, global ETF provider WisdomTree has registered an XRP ETF in Delaware, USA. The company has confirmed that it is a legitimate filing, reportedly managing assets exceeding $100 billion.
VanEck extends zero-fee service for Bitcoin ETF by one year
VanEck announced on the X platform that it will extend its zero-fee service for the VanEck Bitcoin ETF (HODL) by one year, expected to last until January 2026. This will eliminate the cost barrier for experienced HODL investors when investing in Bitcoin, although VanEck reminds investors that they may incur brokerage fees or commissions.
Data from the prediction market Polymarket shows that the probability of Trump establishing a national BTC reserve is 29%, down 3% from November 15; a decrease of 31% from the high of 60% on November 7. According to the website, this betting event ends on April 29, 2025, with the current betting amount at $844,000.
DEXX founder Roy posted on the X platform stating that DEXX has not laid off any team members to date and maintains high operational costs daily, expressing commitment to accountability and consistency in words and actions, and hopes to continue to allow DEXX to be reborn.
Currently investigating and identifying hackers with law enforcement and several security companies, determined to recover stolen funds.
As of now, the platform is still generating transactions and profits. Approximately $2 million in transaction volume has been generated in the past week, with nearly $20,000 in profit.
The team is working with multiple security experts to reconstruct and upgrade asset security solutions to ensure the safety of users' subsequent assets.
The team is currently formulating a compensation plan, carefully verifying each address and every outgoing fund for affected users.
It is reported that DEXX has obtained a lot of effective information through judicial means, and if the hacker contacts them within 48 hours with a willingness to communicate in a resolving manner, otherwise they will pursue the matter to the end. Roy added that the compensation plan will soon be announced and implemented through official channels.
Project News
The team behind Avalanche launched its major upgrade on the testnet on Monday, named "Avalanche9000," which includes multiple technical improvements aimed at reducing blockchain deployment costs by 99.9%. These improvements include community proposal ACP-77 (making Avalanche L1 validators more flexible) and ACP-125 (aimed at reducing Avalanche's base fees by 96%).
At the same time, a $40 million retroactive grant program, Retro9000, has been launched to reward builders developing L1 blockchains and other tools on the Avalanche9000 testnet.
Andrew Kang: Grass may achieve "9-digit" revenue next year
Mechanism Capital partner Andrew Kang posted on the X platform that the latest developments in artificial intelligence have made data one of the most valuable commodities in the world. Grass uses crypto incentives to create data pipelines that most AI companies cannot leverage. At the current growth rate, they seem poised to achieve 9-digit revenue next year, even breaking into the billions. Andrew Kang added that he has studied many projects combining crypto and AI, but unfortunately, most are not investable, while Grass is one of the leading legitimate foundational projects that have emerged in this cycle.
Binance launches 1000WHYUSDT and 1000CHEEMSUSDT perpetual contracts
According to the official announcement, Binance will launch the 1000WHYUSDT perpetual contract on November 25, 2024, at 11:30 (UTC), and the 1000CHEEMSUSDT perpetual contract at 11:45 (UTC), supporting up to 75x leverage.
NDV co-founder: Cheems consensus is not strong enough to reach the $200-300 million range
NDV co-founder Christian2022.eth posted on the X platform expressing shock at the news of Cheems being listed, inquiring with the Cheems Twitter operations team, who were also completely unaware of this listing news. Analyzing the reasons for the sharp decline, it was found that it started with a surge on the 19th, where "mouse warehouse" addresses continuously drove up prices, compounded by bots on BSC, creating millions of dollars in selling pressure in a short period, until the bottom was caught. Without malicious speculation on whether the large orders that bought in later had insider information or were merely speculative buys based on predictions, it can be concluded that the consensus around $Cheems was not strong enough to reach the $200-300 million range; it was propped up by unrealistic listing expectations (spot). When those expectations fell through, a sharp decline was inevitable.
Market news: Robinhood US launches WIF
According to market news, Aggr News reported that Robinhood US has launched WIF.
Bithumb to launch BICO and PUFFER KRW trading pairs
According to an official announcement, Bithumb will launch BICO and PUFFER KRW trading pairs today, with trading expected to open at 3 PM local time.
Investment and Financing
OpenTrade completes $4 million seed round extension financing, led by AlbionVC
Web3 institutional lending and yield product platform OpenTrade announced the completion of a $4 million seed round extension financing, led by AlbionVC, with participation from a16z Crypto and CMCC Global. It is reported that OpenTrade plans to use this round of funding to expand its operational scale, enhance product functionality, and develop additional services, including yield products supporting new asset types.
Metalayer plans to establish a $25 million crypto venture capital fund
A company named Metalayer has filed documents with the U.S. Securities and Exchange Commission (SEC) to establish a $25 million investment fund. According to insiders, Metalayer's co-founders are three senior individuals from Two Sigma Ventures, and it is reported that Metalayer completed its initial fundraising last Friday, with committed capital reaching $20 million, and plans to complete full fundraising by the end of the year.
Insiders revealed that Metalayer's initial funding comes from some executives at Two Sigma Ventures, although there will be no formal relationship between the two companies. Two Sigma is known for its hedge funds, managing approximately $60 billion in assets. Metalayer has also raised funds from other supporters, including family offices and other executives from crypto protocols. (Fortune)
Voices
Trader Eugene: Has taken profits on long positions, not optimistic about BTC breaking $100,000
Trader Eugene posted on the X platform stating: "I have taken profits on long positions. I recommend staying cautious. Saylor offered $5.5 billion, and Bitcoin has failed to break $100,000, which is not very optimistic."
Adam Back: The world is on the brink of super bitcoinization
Crypto punk legend and co-founder of Bitcoin infrastructure development company Blockstream, Adam Back, stated that MicroStrategy is continuously increasing its BTC holdings, and the world is rapidly repricing Bitcoin, with super bitcoinization imminent. Some people are skeptical of MicroStrategy's approach. However, when certain important things are mispriced, arbitrage occurs. MicroStrategy's strategy accelerates the arbitrage of mispricing, so yes, it can scale; this is not a problem but an arbitrage of the fact that the entire fiat currency world is mispriced.
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