Selected News:

1. Scroll mainnet has officially launched;

2. Everscale: A large amount of EVER tokens have been stolen, and they are working with trading platforms to prevent further outflow of the tokens.

3. Reddit shuts down blockchain-based community points service, causing a sharp drop in the value of related tokens;

4. The Fantom Foundation has confirmed that some wallets have been attacked and lost approximately $550,000.

5. Sui Foundation responds to circulation controversy and refutes regulatory accusations in a published article.

Project Updates

friend.tech application experienced performance issues due to a denial of service attack, but has now resumed normal operation.

Friend.tech reported today that the application experienced performance issues due to a denial of service attack on its chat server. Currently, the application has resumed normal operation.

THORChain announced that RUNE has been fully distributed and confirmed that all VC investors have exited.

The decentralized cross-chain trading protocol THORChain announced that its token RUNE has been fully allocated to the protocol and reserves. The Treasury holds only 7 million (2% in circulation) for ecosystem funding. All tokens for OG seed/team/investors were unlocked months ago, and all participating investors have exited.

X platform launches "Not A Bot" test, new users need to pay for interactive operations

X platform (formerly Twitter) has launched a new subscription method test called "Not A Bot" in New Zealand and the Philippines. The aim is to further reduce spam, platform manipulation, and bot activity. New users need to complete phone verification and choose a subscription plan. The subscription fee is 1 USD per year (prices vary by country and currency), and subscribed users can post, like, reply, retweet, and bookmark posts on the platform. New users who have not subscribed will only be able to perform "read-only" operations, such as reading posts, watching videos, and following accounts.

FTX and Riot Games, Tomorrowland, and Coachella sponsorship transaction amounts revealed, totaling nearly $167 million

According to The Block, FTX has signed massive sponsorship deals with multiple major brands, as revealed in court documents presented during former FTX CEO Sam Bankman-Fried's criminal trial. Among them, Riot Games, the developer of "League of Legends," agreed to receive nearly $100 million in sponsorship over seven years, while the Tomorrowland music festival agreed to receive approximately $42 million in sponsorship by 2026. In addition, the Coachella music festival held annually in Southern California signed a $25 million deal with FTX.

Reddit shuts down blockchain-based community points service, related token value plummets

According to TechCrunch, Reddit has decided to terminate its blockchain-based community points service, which has been in operation for nearly three years. Tim Rathschmidt, Reddit's Director of Consumer and Product Communications, stated that "while we see some future opportunities for community points, the resources required to maintain the service are too high to justify its continuation. Additionally, regulatory challenges have made it increasingly difficult." Reddit will be discontinuing its community points on November 8th.

Fantom Foundation confirms partial wallet attack and loss of approximately $550,000

The Fantom Foundation has officially confirmed that a few Fantom wallets were hacked, including approximately $550,000 of Fantom Foundation funds. Although initial reports suggested that the attack was carried out through a zero-day vulnerability in Google Chrome, the specific attack mechanism is still under active investigation.

AC clarification: The stolen funds on Fantom belong to employees rather than the foundation.

Fantom Foundation board member Andre Cronje clarified the "Fantom Foundation wallet hack" incident, stating that the stolen funds on Fantom belonged to employees rather than the foundation.

Sui Foundation responds to circulation controversy and refutes regulatory accusations

The Sui Foundation responded to the South Korean financial regulatory agency's questioning on social media, emphasizing that it has always been committed to working closely with the Korean Digital Asset Exchange Association (DAXA) and its members to maintain full compliance and transparency. The Foundation made it clear that no SUI tokens have been sold since the distribution of the Community Access Program (CAP). The Sui Foundation also emphasized that the token circulation and supply plan displayed on its public website and public API is accurate, and any transfer of tokens can be publicly viewed and verified on the blockchain.

Stars Arena will restart trading within 24 hours

FT simulation disk Stars Arena based on AVAX network announced the final audit report of its contract on social media platform, and stated that it will restart trading at any time within the next 24 hours.

Ethereum client Prysm releases version v4.1.0, providing support for Deneb/Cancun

Ethereum client Prysm has released version v4.1.0, with new features including:

Wintermute collaborates with stablecoin issuer Mountain Protocol to enhance USDM liquidity

According to The Block, cryptocurrency market maker Wintermute has partnered with stablecoin issuer Mountain Protocol to enhance the liquidity of USDM, allowing non-US users to benefit from US Treasury yields.

Oracle Pyth Network announces the PYTH token economics with a total supply of 10 billion

Everscale: A large amount of EVER tokens have been stolen, and they are working with trading platforms to prevent further outflow of tokens.

Layer 2 network Everscale announced that a large amount of EVER tokens have been stolen. The team is closely working with the trading platform that listed EVER to prevent further outflow of the tokens. Additionally, Everscale has temporarily disconnected the connection to Octus Bridge.

Binance US updates terms: User cryptocurrency deposits no longer covered by FDIC insuranceAccording to Decrypt, Binance US has notified its users that their cryptocurrency deposits are no longer covered by FDIC insurance. Under the updated terms of service, users must first convert their US dollars into stablecoins or other cryptocurrencies before withdrawing funds.

Regulation

The EU officially passes new regulations on sharing encrypted tax data.

According to CoinDesk, the EU has officially passed new cryptocurrency tax data sharing rules, requiring crypto companies to report customer holdings for tax authorities to share. This regulation is called "Administrative Cooperation Directive 8" (DAC8) and covers stablecoins, NFTs, DeFi tokens, and crypto mining profits. The rules aim to prevent the hiding of assets overseas through cryptocurrencies and strengthen tax cooperation among EU member states.

Fidelity has updated its Bitcoin spot ETF application based on SEC comments

According to an announcement on the SEC website, Fidelity has updated its Bitcoin spot ETF application based on SEC feedback.

South Korean regulatory authorities will investigate Sui to determine if it is a scam

According to Coingraph, Lee Buh-woon, the head of the Financial Supervisory Service in South Korea, recently stated that an investigation will be conducted on Sui to determine if it is a scam.

The US SEC has included cryptocurrencies in its 2024 review priority list.

Fox reporter Eleanor Terrett stated on social media that the US SEC has included cryptocurrency on its priority list for the 2024 exam. Please note that most cryptocurrency companies are not registered with the SEC and therefore do not pay registration fees.

Federal Reserve's Barkin: Inclined to maintain interest rates

The Federal Reserve's Barkin said that the Fed has time to observe data before making the next interest rate adjustment decision. It is inclined to maintain interest rates and said it has time to wait and see if further rate hikes are needed. (Jin10)

Funding

Prove Identity has completed a $40 million financing round, led by MassMutual Ventures and Capital One Ventures.

Unbroken Chain Fund plans to raise $5 million to invest in Bitcoin Ordinals inscriptions

According to CoinDesk, the Unbroken Chain fund plans to raise $5 million and will conduct various types of transactions, including BRC-20 tokens. The fund will be led by Consolidated Trading portfolio manager Asher Corson, with LPs including the fund department of BTC Inc., owner of Bitcoin Magazine, UXTO Management, and Isabel Foxen Duke, former communications director for Ordinals founder Casey Rodarmor.

Animoca Brands subsidiary Darewise completes $3.5 million private placement round with participation from Gamefi Ventures

Animoca Brands' subsidiary, Darewise Entertainment, announced that it has completed a $3.5 million private funding round, with participation from Gamefi Ventures, London Real Ventures, Citizen Capital, Blocore, Animoca Ventures, and Yat Siu, co-founder and executive chairman of Animoca Brands.

BitGo acquires cryptocurrency wealth management platform HeightZero

BitGo, a digital asset custody provider, has acquired HeightZero, a cryptocurrency wealth management platform. The specific transaction details have not been disclosed.

The on-chain collaborative application "Fileverse", supported by former Coinbase CTO Balaji, has completed a $1.5 million seed round of financing. This round of financing was led by Gnosis Chain and Factor, with participation from Safe, MaskNetwork, Arweave, Waterdrip Capital, Forward Research, Galxe, and others.

Fileverse aims to build a decentralized, crypto-native application to replace traditional Web2 internet products such as Google Workspace and Notion, fundamentally solving issues such as privacy infringement, invasive advertising, and restricted user ownership.

Before this seed round of financing, Fileverse had already received approximately $280,000 in grants from institutions such as the Ethereum community, Gitcoin community, Polygon, ENS, a16z, Filecoin, Aurora, and others, and had the support of over 14,000 donors.

Data

StormX once deposited 86.9 million STMX into Binance at an average price of $0.0063.

The cryptocurrency rebate platform StormX deposited 86.9 million STMX into Binance at an average price of $0.0063 five days ago, equivalent to $550,000.

EVER 24-hour drop exceeds 20%, currently trading at $0.0258

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