Selected News:

1. Bigtime project team's wallet transferred a total of 2.76 million US dollars worth of BIGTIME tokens to two new addresses;

2. Starknet will distribute 50 million STRK tokens to early contributors;

3. Binance will list Celestia (TIA) on its platform;

4. Insider: a16z plans to raise $3.4 billion for its next early-stage fund;

5. The UK Treasury has released its final proposal for regulating cryptocurrency assets, requiring crypto companies to obtain authorization from the Financial Conduct Authority.

Price Observation

BAYC series NFT floor price has rebounded to 30ETH, up 33% from the previous low point.

On October 30th, according to Blur data, the Bored Ape Yacht Club (BAYC) series NFT floor price has risen to 30 ETH. The floor price of this series of NFTs had fallen to around 22.5 ETH in August, and has since risen by approximately 33% from its lowest point.

Aevo platform TIA futures current price is 2.9 US dollars

On October 30th, according to market data information, TIA Futures was priced at $2.9 according to data from the options trading platform Aevo, with a 24-hour increase of 8.06%.

Transaction Tracking

Alameda transferred approximately 10.5 million USDC and 21.7 million REN to Coinbase Prime

On October 31st, according to data monitored by PeckShield, an address labeled as Alameda transferred approximately 10.5 million USDC and 21.7 million REN (equivalent to 1.1 million USD) to Coinbase Prime on the Ethereum network. At the same time, 131,930 SOL (equivalent to 4.6 million USD) was transferred to Binance, and the wallet on Solana still holds approximately 103 million USD worth of cryptocurrency.

Bigtime project party wallet transferred a total of 2.76 million US dollars worth of BIGTIME tokens to two new addresses.

On October 30th, according to the monitoring of encryption KOL @ai_9684xtpa, the Bigtime project's multi-signature wallet has just transferred 15 million BIGTIME tokens, worth $2.76 million, to two new addresses.

Two addresses jointly withdrew 41,668 TRB worth approximately $5 million from Binance today.

On October 30th, according to data from Yu Jin, two addresses withdrew 41,668 TRB (approximately $5 million) from Binance today. Currently, the amount of TRB on the Binance platform is 408,000, accounting for only 16.5% of the circulation. In addition, since October 23rd, a total of 151,000 TRB has been withdrawn from Binance to on-chain addresses. The price of TRB has also risen from $70 on October 23rd to $120 now, an increase of 71%.

Orbs team and founding partner wallet deposit $3.4 million ORBS into OKX

On October 30th, according to Lookonchain monitoring, the Orbs team and founding partner wallet have just deposited $3.4 million worth of ORBS into OKX. Earlier today, DWF Labs received 150 million ORBS (approximately $6.6 million) from Orbs' long-term reserve address about an hour ago.

DWF Labs transferred 124 million LINA to a new wallet, worth $1.35 million

On October 30th, according to Spot On Chain monitoring, DWF Labs transferred 124 million LINA tokens to a new wallet, worth $1.35 million.

Project Updates

Radiant Capital will soon be launched on the Ethereum mainnet.

On October 31st, according to official sources, cross-chain lending protocol Radiant Capital announced that it has been approved for deployment on the Ethereum mainnet and will be deployed within 72 hours.

Starknet will allocate 50 million STRK tokens to early contributors.

On October 31st, Starknet announced the launch of the Early Community Member Program, which aims to recognize community contributors who have made contributions to Starknet so far, and plans to allocate 50 million STRK tokens to those who have contributed to the network in its early stages, including individuals who have contributed to technical discussions, organized Starknet-related activities, and regularly published Starknet brand content. Individuals and projects will need to apply for grants and provide detailed information about their contributions, and the application window will be open until 8:00 on November 23, 2023.

Aave community's proposal to "purchase $400,000 worth of AURA tokens"

On October 31st, according to relevant page information, the Aave community passed a proposal to "purchase AURA tokens worth 400,000 USDC". Aave DAO will use existing B-80BAL-20WETH assets to mint auraBAL and pledge it to Aura Finance's staking pool.

Avalanche: Snowtrace will be replaced by a new version run by Avascan in the current version.

Insider: a16z plans to raise $3.4 billion for its next early-stage fund

On October 31st, according to sources cited by Axios, Silicon Valley venture capital firm Andreessen Horowitz (a16z) plans to raise approximately $3.4 billion for its next core early-stage and seed-stage fund. The fundraising is expected to start around the end of this year and is expected to end in the first half of 2024.

SCION software provider Anapaya Systems receives €1.8 million investment from Mysten Labs

On October 30th, Swiss SCION software provider Anapaya Systems received a €1.8 million investment from Mysten Labs. The two parties plan to collaborate to build a secure, highly accessible, and high-performance Web3 infrastructure to support the next generation of wide area network technology SCION. Evan Cheng, CEO and co-founder of Mysten Labs, said, "SCION's highly secure and efficient communication structure will provide another key differentiating advantage for Sui." According to reports, SCION is a future internet architecture that connects organizations and end-users by combining explicit trust information, fault isolation and routing control with the accessibility advantage of the public internet and the security of private MPLS.

Saudi Arabia's NEOM plans to invest $50 million in Animoca Brands

On October 30th, according to official sources, Animoca Brands has established a strategic partnership with NEOM, a technology subsidiary of NEOM Tech & Digital, a technology subsidiary of NEOM, the "Neom" new city construction project led by Saudi Crown Prince Salman, to promote local Web3 development. NEOM also plans to invest $50 million in Animoca Brands, of which $25 million will be raised through convertible notes and the remaining $25 million will be used to purchase company stocks in the secondary market. Animoca Brands stated that it will work with NEOM to build Web3 enterprise service capabilities with global commercial applicability to support technological progress in Riyadh and NEOM regions, including plans to establish a center within NEOM to cultivate a local Web3 ecosystem and introduce Animoca Brands and its subsidiaries, partners, and extensive portfolio companies.

Regulatory News

The UK Treasury Department has released the final proposal for regulating cryptocurrencies, requiring crypto companies to obtain authorization from the Financial Conduct Authority.

On October 31st, the UK Treasury Department released the final proposal for regulating cryptocurrency assets, outlining the government's intention to include some cryptocurrency activities within the scope of financial services regulation for the first time. "The government's position is that companies that deal directly with UK retail consumers, regardless of where they are located, should be required to obtain authorization." The document describes how companies engaged in cryptocurrency activities must now obtain authorization from the UK Financial Conduct Authority, including a requirement for cryptocurrency exchanges to meet admission standards and disclose detailed information when listing new assets.

Terraform Labs requested the court to dismiss the SEC's allegations of involvement in a multi-billion dollar securities fraud.

On October 31st, according to CoinDesk, Terraform Labs and its co-founder Do Kwon filed a motion with the court requesting the dismissal of the US Securities and Exchange Commission's (SEC) allegations of their involvement in a multi-billion dollar securities fraud. Terraform Labs stated that the SEC has not yet proven that they are offering securities, nor have they provided any reason for their offering of unregistered securities. "After two years of investigation, at the end of the discovery period, the SEC heard more than 20 testimonies and exchanged more than 2 million pages of documents and data, but it is clear that they still cannot prove any wrongdoing by the defendants."

Bittrex bankruptcy plan approved by court, will close its US business

On October 31st, according to Reuters, the bankruptcy plan of Bittrex, a cryptocurrency trading platform, was approved by the bankruptcy court, which will close its US business and allow the company to pay off the remaining creditors in full through a liquidation plan. BlockBeats previously reported that on May 9th, Bittrex filed for bankruptcy in Delaware, USA, less than a month after being accused by the US Securities and Exchange Commission of operating an unregistered trading platform.

The probability of the Fed maintaining interest rates unchanged this week is 98.4%

On October 31st, according to CME's "FedWatch": the probability of the Fed maintaining interest rates in the range of 5.25%-5.50% this week is 98.4%, and the probability of raising interest rates by 25 basis points to the range of 5.50%-5.75% is 0.0%. The probability of maintaining interest rates unchanged until December is 74.5%, the probability of cumulative interest rate hikes of 25 basis points is 24.3%, and the probability of cumulative interest rate hikes of 50 basis points is 0.0%. The Fed will announce the Fed interest rate decision from November 1st to November 2nd at 2:00 US time.

Valkyrie 提交更新版现货比特币 ETF 招股说明书 Translation:

Valkyrie submits updated prospectus for spot Bitcoin ETF

On October 31st, Bloomberg ETF analyst James Seyffart wrote that Valkyrie has submitted an updated prospectus for its spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC). Bloomberg ETF analyst Eric Balchunas commented that "this is why we won't infer a probability of over 90% for approving a spot Bitcoin ETF before January."

SBF expressed support for a "billions of dollars" investment decision

On October 31st, according to Bloomberg, during today's testimony, US prosecutors asked SBF: "Was it your decision to spend billions of dollars on venture capital decisions in 2021 and 2022?" SBF responded, "I believe several billion dollars of it was my decision." SBF also admitted that he had decided to invest billions of dollars in venture capital even before Alameda was ultimately hedged. Crunchbase data shows that FTX Ventures has invested in nearly 70 startups.

SBF acknowledges that some companies have privileges on FTX, including companies affiliated with Three Arrows Capital

On October 31st, according to the Wall Street Journal, SBF admitted in Monday's trial that some cryptocurrency companies were given special privileges on FTX. When asked by prosecutors if FTX customers could use their equity in external investments as collateral on the exchange, SBF said that a company called Crypto Lotus could do so, which is affiliated with Three Arrows Capital.

SBF: Unaware of FTX Financial Vulnerability When Posting "FTX Asset Status is Good" Tweet

On October 30th, SBF testified that he had a vague understanding of the financial situation of FTX and Alameda before the crash. In November 2022, when he tweeted "FTX's financial situation is good," he was unaware of the financial loopholes in FTX and believed that Alameda's assets could still cover its debts. SBF stated that it was only a few days after the tweet was posted that he realized the severity of FTX's situation.

SBF testified that FTX's collapse was due to Caroline Ellison's failure to fully hedge against the market downturn

On October 30th, according to Reuters, FTX founder SBF testified on Monday that the FTX crash was caused by Caroline Ellison, head of Alameda Research, failing to adequately hedge against the market downturn. He stated that he asked Caroline Ellison to trade to offset the risk of cryptocurrency prices falling from mid-term. SBF said in response to defense lawyers' questions, "Ellison agreed that Alameda should hedge and said that some risky investments should not be made."

BlackRock: The development of digital currencies, asset tokenization, AI and other technologies will promote changes in financial architecture

On October 30th, BlackRock released a research brief titled "The Future of Finance" on its official website. The report pointed out that regulatory changes, changes in financial architecture, the end of zero interest rates, and technological innovation are changing the deposit and credit markets, disrupting business models. American banks can no longer rely on deposits as a cheap source of funding, and they will control loans, so companies may turn to capital markets, private lending institutions, and other credit sources. The report believes that these changes are beneficial to depositors, diversify borrowers' financing, create a more stable system, and open up potential investment opportunities. With the innovation of banks and other financial institutions, the development of regulations, and the technological development around payments, digital currencies, asset tokenization, and artificial intelligence, the evolution of the financial system will further accelerate.

Hong Kong Financial Secretary: Will formulate OTC operation regulations for virtual assets and develop relevant regulatory arrangements

On October 30th, according to the Hong Kong Economic Journal, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that Hong Kong plans to amend the laws governing the operation of virtual asset exchanges outside of the country and establish relevant regulatory arrangements. Regarding virtual asset advertising and influencer promotion, Hui said that there are currently means to handle and regulate the behavior of celebrities or influencers promoting virtual asset platforms. Hui stated that the Anti-Money Laundering Ordinance has given the Securities and Futures Commission new powers to enforce virtual asset advertising and promotion. Once fraudulent or misleading behavior is discovered, the Securities and Futures Commission has the right to issue suspension and cessation orders to the parties involved. If the illegal behavior does not stop, an injunction can be sought from the court.

The Hong Kong Monetary Authority: Retail CBDC can add value to the payment ecosystem, but it has not yet decided whether to launch the digital Hong Kong dollar.

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