Selected News:

1. Data: Scroll mainnet TVL has exceeded 16 million US dollars, with a 7-day increase of 204.97%.

2. The FT imitation project cipher.fan, endorsed by well-known KOL Adam Cochran, is suspected to be a rug.

3. Wintermute and Amber Group have returned 20 million WLD unpaid loans to Worldcoin;

4. Galaxy Research: The first-year capital inflow of Bitcoin spot ETF is expected to reach 14 billion US dollars.

5. Arthur Hayes: US Middle East policy may lead to a new round of inflation and cryptocurrency bull market.

Price Observation

Data: Scroll mainnet TVL breaks through $16 million, with a 7-day increase of 204.97%According to L2BEAT data, the TVL of Ethereum Layer2 scaling solution Scroll on the mainnet has reached $16.19 million, with a 7-day increase of 204.97%.

BLUR short-term breakthrough $0.25, 24-hour increase of 17.48%

According to OKX market data, BLUR has broken through $0.25 in the short term and is currently priced at $0.2512, with a 24-hour increase of 17.48%.

CYBER breaks through $5.2, with a 24-hour increase of 14.16%According to market data, CYBER has broken through $5.2 and is currently priced at $5.23, with a 24-hour increase of 14.16%.

MC short-term pull up more than 10%, currently priced at $0.5184

According to market data, Merit Circle (MC) has surged more than 10% in a short period of time and is currently trading at a price of 0.5184 US dollars.

Yesterday, the total trading volume of the cryptocurrency market exceeded 120 billion US dollars, with a daily increase of more than 40%.

According to CoinGecko data, the total trading volume of the global cryptocurrency market on October 24 was 121.506 billion US dollars, which increased by approximately 41.53% compared to October 23's single-day trading volume of 85.849 billion US dollars.

Bitcoin volatility index rose to 59.41 yesterday, with a daily increase of 9.63%.

The BitVol (Bitcoin Volatility) index, launched by financial index company T3 Index in collaboration with Bitcoin options trading platform LedgerX, rose to 59.41 yesterday, with a daily increase of 9.63%.

Transaction Tracking

Scopescan: A whale transferred over 118.4 billion STARL to Gate, with a floating loss of $1.14 million

According to Scopescan monitoring, a whale transferred over 118.4 billion STARL to Gate 50 minutes ago. The same whale had transferred the aforementioned STARL out of Gate two days ago and is currently experiencing a floating loss of $1.14 million.

Wujingyu deposited 9696 MKR, equivalent to $13.9 million, into Coinbase within the past hour.

According to Spot On Chain monitoring, in the past hour, 5 whale addresses (possibly the same person) deposited 9,696 MKR (approximately $13.9 million) into Coinbase, with an average price of $1,438 per coin. The aforementioned whales accumulated 9,696 MKR (approximately $11.6 million) at an average price of $1,200 per coin through Coinbase at the end of July. The estimated realized profit is $2.3 million. In addition, a whale address starting with 0xd4e withdrew 7,155 MKR (approximately $10.3 million) from Coinbase 30 minutes ago, with an average price of $1,437 per coin. The whale now holds a total of 44,941 MKR (approximately $64.5 million), with an estimated unrealized profit of $3.83 million.

Scopescan: A whale withdrew 58,000 TRB, worth about $5.49 million, from Binance in the past two days.

According to Scopescan monitoring, a whale address withdrew 58,000 TRB from Binance in the past two days, worth approximately $5.49 million.

MistTrack: Attacker of Fantom Foundation Wallet transferred 300 ETH to Tornado Cash

According to MistTrack, a Web3 security tool under the SlowMist team, the attacker's address of the Fantom Foundation wallet transferred 300 ETH to Tornado Cash today. Currently, the address still holds about 4401 ETH.

Circle announced its joining of TBD, a Bitcoin-focused subsidiary of Jack Dorsey's Block, and a newly established non-profit foundation under the Linux Foundation. The foundation aims to establish a set of open-source standards for decentralized identities, credentials, and open payments built on the blockchain.

Uniswap Foundation approved for $46.2 million funding to support future 2-year work

Uniswap Foundation announced on social media that the governance community has approved continued funding for the Uniswap Foundation. Previously, the Uniswap Foundation had requested a proposal for a disbursement of $46.2 million to support their work for the next 2 years.

Uniswap Foundation: Uniswap V4 sandbox launched with Conduit is not an official partnership and will not be promoted to the mainnet

The Uniswap Foundation stated on social media that "The Uniswap Foundation does not intend to promote Uniswap V4 Sandbox to the mainnet. The testnet is a collaborative space and welcomes all protocols to participate. Participating in the testnet does not imply a formal partnership. We appreciate the tireless efforts and contributions made by various projects such as Conduit to the ecosystem."

Binance will support the Merit Circle (MC) token exchange, incremental increase, and brand upgrade to Beam (BEAMX).

According to the official announcement, Binance will support the token swap, increment, and brand upgrade of Merit Circle (MC) to Beam (BEAMX). Therefore, Binance will suspend the deposit and withdrawal services of MC (ERC20 and BEP20) on November 7th at 11:30 (GMT+8). Binance will announce the opening time of BEAMX (ERC20 and BEP20) deposit and withdrawal separately after the token swap, increment, and brand upgrade are completed. After the completion of the token swap, increment, and brand upgrade, Binance will no longer support the deposit and withdrawal services of MC tokens.

Insider: HKVAEX plans to apply for a license in Hong Kong and share technology and other resources with Binance

According to the South China Morning Post, sources revealed that the Hong Kong-based cryptocurrency trading platform HKVAEX plans to apply for a license in Hong Kong. The sources claimed that HKVAEX was established by Binance to obtain a cryptocurrency business license in Hong Kong. The HKVAEX trading platform's website shows that it is using Binance servers to obtain content, and the two companies share similar code and almost identical terms of use templates, indicating that they may also share legal resources.

Mastercard partners with Web3 companies such as MetaMask and Ledger in the field of cryptocurrency payments

According to CoinDesk, payment giant Mastercard is exploring partnerships with wallet companies such as MetaMask and Ledger. In the presentation, Mastercard pointed out that having a payment card can help wallet providers increase their active user base and establish loyalty and other sources of revenue, while also giving cardholders the opportunity to use their cryptocurrency balances in a frictionless manner. In addition, Mastercard also stated that it is evaluating "new models for global issuance using stablecoins."

Celestia announces the establishment of non-profit organization Celestia Foundation

Modular blockchain network Celestia announced the establishment of a non-profit organization, the Celestia Foundation, located in Liechtenstein. The foundation aims to guide the Celestia ecosystem and maintain its values. The Celestia community firmly believes that users should be the first-class citizens of the network and be able to directly verify the integrity of the blockchain, rather than relying on centralized intermediaries. The main goals of the foundation include funding scalable decentralized systems, open-source development of public goods, and supporting developers of infrastructure and applications based on Celestia. The management of the foundation consists of four initial members, including Celestia co-founder and Celestia Labs CEO Dr. Mustafa Al-Bassam, cryptocurrency entrepreneur and investor Batuhan Dasgin, Celestia co-founder and Celestia Labs CTO Ismail Khoffi, and Reinhold Wohlwend, owner and CEO of Revalier.

Viewpoint Data

Galaxy Research: Bitcoin spot ETF expected to attract $14 billion in the first year

Galaxy Research has released a report estimating the growth rate of various channels in the US wealth management industry entering the Bitcoin spot ETF based on the total assets under management. The conclusion drawn is that the first-year capital inflow after the launch of the Bitcoin spot ETF is expected to reach $14 billion, increasing to $27 billion in the second year, and further increasing to $39 billion in the third year.

Financing Express

Saudi Arabia's NEOM Investment Fund (NIF) has completed a new round of investment in companies such as Animoca Brands.

NEOM, chaired by Saudi Crown Prince Mohammed bin Salman, announced the establishment of its strategic investment arm, NEOM Investment Fund (NIF), to support the construction and development of NEOM's 14 priority areas. NIF will invest in technology startups globally through mergers and acquisitions and venture capital, with a focus on pioneering growth companies and next-generation industries. NIF will also establish joint ventures and partnerships with large multinational companies, institutional investors, and innovators within NEOM. As part of its establishment, NIF announced a new round of investments in companies such as Pony.ai, Regent, Boom Technology, BlueNalu, and Animoca Brands.

Base 生态衍生品平台 PRINT3R 完成 50 万美元 Pre-Seed 轮融资，MH Ventures 领投 Translation:

Base ecological derivative product platform PRINT3R completed a $500,000 Pre-Seed round of financing, led by MH Ventures.

The encryption derivative platform PRINT3R announced the completion of a $500,000 Pre-Seed round of financing, led by MH Ventures, with participation from 300DAO, OnChain Wizard, Primapes, Homeless DAO, and 2Shares. PRINT3R is built on the Base network and mainly provides gamified decentralized derivative trading and DEX services.

Cryptocurrency payment gateway Triple-A completes $10 million Series A financing, led by Peak XV Partners and Shorooq Partners

According to Tech in Asia, Triple-A, a Singapore-based cryptocurrency payment gateway, has completed a $10 million Series A funding round led by Peak XV Partners and Shorooq Partners. Triple-A will use the new funds to further develop its product suite. Founded in 2018 by fintech entrepreneur Eric Barbier, Triple-A offers stablecoin and blockchain-based payments, supporting major tokens such as USDT, USDC, Bitcoin, and Ethereum. In 2021, Triple-A received a payment institution license from the Monetary Authority of Singapore.

Regulatory News

The UK Financial Conduct Authority issues warning on common questions about cryptocurrency marketing

The Financial Conduct Authority (FCA) in the UK has announced that legislative changes will bring the promotion of crypto assets within its remit; since October 8th, the FCA has been overseeing companies' compliance with the new regime, aimed at providing consumers with accurate information and risk warnings, and is continuing to investigate and take action against companies illegally promoting crypto assets to UK consumers. The FCA is also working with payment companies to restrict UK consumers' access to companies that promote illegal marketing (crypto assets).

The US Internal Revenue Service has extended the comment period for new cryptocurrency tax filing rules until November 13th.

According to Cointelegraph, the US Internal Revenue Service (IRS) has extended the public comment period for proposed cryptocurrency tax reporting rules until November 13, 2023. The proposed rules will take effect in 2026 and will affect sales and transactions conducted in 2025.

Investment firm NDV will launch a new cryptocurrency stock fund, mainly investing in cryptocurrency ETFs, etc.

According to Yahoo Finance, NextGen Digital Venture (NDV), a traditional finance and cryptocurrency investment company, announced that after launching the Next Generation Fund, the first cryptocurrency fund focused on GBTC, on March 23, it will soon launch a new cryptocurrency stock fund called "Disruptive Opportunity Fund I". The fund mainly invests in digital currency ETFs, digital currency trading platforms, Bitcoin mining companies, and stocks of companies in the digital currency field, providing customers with an investment solution that can surpass BTC returns and is safe and regulated.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia