Selected News:

1. Influenced by ZachXBT's comments, GROK token has dropped more than 40% in a short period of time;

2. Ethereum Foundation multi-signature wallet transfers 1000 ETH;

3. The Block CEO: Foresight Ventures has acquired the majority stake in The Block;

4. The 1inch community initiated a proposal to sell 2.5 million ARB airdrop tokens for a vote;

5. Crypto.com launches regulated cryptocurrency derivative product, Strike Options, for US users.

Price Observation

MEME 24-hour increase expanded to over 60%, now priced at $0.0352

On November 14th, according to market data, MEME (Memecoin) rose and briefly exceeded $0.036, currently trading at $0.0352 with a 24-hour increase of 62.18%.

受 ZachXBT 言论影响，GROK 代币短时下跌超 40% Translation:

Affected by ZachXBT's remarks, GROK token fell more than 40% in a short period of time.On November 14th, according to on-chain information, the GROK token experienced a short-term drop of over 40% due to the influence of ZachXBT's comments, and is currently priced at 0.0106 USD.

Previously, on-chain detective ZachXBT stated that the meme coin GROK on Ethereum was created by scammers, and the same X/Twitter account (Twitter ID: 1690060301465714692) has been reused for at least one other scam.

Ethereum rebounds above $2100

On November 13th, according to OKX market information, Ethereum briefly rebounded above $2100 and is now priced at $2102.15, with a 24-hour increase of 2.24%.

BGB is now priced at 0.5238 US dollars, reaching a new historical high.

On November 13th, according to Bitget market information, Bitget platform token BGB has increased by 8.3% in the past 24 hours, currently priced at $0.5238, reaching a new all-time high.

WLD breaks through $2.29, with a 24-hour increase of 18.19%On November 13th, according to OKX market information, WLD broke through $2.29 and is currently priced at $2.291, with a 24-hour increase of 18.19%. Prior to this, Tools for Humanity (TFH), the development team of Worldcoin, released an update to the World App, adding Simplified Chinese, Hindi, Japanese, and Korean as available languages, and supporting the display of Indian rupees, Japanese yen, Korean won, and Singapore dollars, to meet the demands of the Asian market.

In addition, TFH has recently conducted a tour in multiple locations in Asia to collect user feedback for World App, communicate with local stakeholders, and meet with developers and members of the Worldcoin community. The one-week gathering was held in Hong Kong, Seoul, Singapore, and Tokyo.

Transaction Tracking

FTX deposited $24 million worth of crypto assets to CEX in the past 5 hours

On November 14th, according to Spot On Chain monitoring, FTX deposited $24 million worth of SOL, MATIC, and ETH into Kraken and OKX in the past 5 hours, including 250,000 SOL (approximately $13.5 million), 8.27 million MATIC (approximately $7.41 million), and 1,500 ETH (approximately $3.1 million).

As of November 14th, FTX and Alameda have transferred 42 assets worth $438 million to the trading platform. Currently, FTX's liquidity is only 3408 SOL (approximately $179,000). According to CoinGecko data, FTX still holds 42.2 million SOL (approximately $2.19 billion) in locked assets, which will begin to unlock next year and remain frozen until 2027 or 2028.

A certain whale has withdrawn over $50 million worth of ETH from Binance since the end of July, most of which was used for Eth2.0 staking.

On November 13th, according to the monitoring of crypto user @ai_9684xtpa, a whale address withdrew 1500 ETH worth $3.14 million from Binance half an hour ago. In addition, the address has withdrawn a total of 24,129 ETH worth $50.45 million since July 25th, of which 20,125 ETH was deposited into the Figment Eth2.0 staking protocol through a transfer address.

A whale withdrew $1.2 million worth of LINK from Binance 2 hours ago.

On November 13th, according to Lookonchain monitoring, a whale withdrew $1.2 million worth of LINK from Binance 2 hours ago. Since October 23rd, the address has withdrawn 615,097 LINK worth $7.16 million, with current profits of $1.9 million.

The Ethereum Foundation's multi-signature wallet transferred 1000 ETH

On November 13th, according to on-chain data, the Ethereum Foundation (with an address starting with 0xde0b29) transferred 1000 ETH to an address starting with 0xbC9a9. The receiving address currently holds 2669 ETH.

ARK Invest sold $6 million worth of GBTC last Friday.

On November 13th, according to the Snapshot page, the 1inch Network community has initiated a proposal to "exchange ARB for USDC and bridge to the Ethereum mainnet", with voting ending on November 18th at 19:15. According to the proposal, in April 2023, the 1inch DAO treasury on Arbitrum will receive airdropped 2,575,405 ARB. The proposal suggests exchanging all ARB for USDC on Arbitrum One, and then bridging these USDC to the 1inch DAO treasury on the Ethereum mainnet.

A new proposal from Polkadot suggests periodically cashing out some DOT in the treasury to pay Technical Fellowship members' salaries

On November 13th, Polkadot OpenGov Proposal #231 suggested using the periodic investment function of the HydraDX exchange in the Polkadot ecosystem to exchange a portion of the treasury's DOT for USDT in order to accumulate USDT for paying Technical Fellowship members' salaries. The total amount of the exchange plan is 469,000 DOT, with a transaction fee of approximately 0.4% of the total exchange amount. The exchange occurs approximately every 36 minutes, with each transaction obtaining 250 USDT and a daily total of 10,000 USDT. At the current price, the exchange plan is expected to last for 180 days. The frequent small exchanges are intended to reduce the impact of price fluctuations.

Sparkle will release inscribed NFT assets on the IERC platform to upgrade gameplay in the GameFi ecosystem.

On November 13th, Sparkle announced that it will release Inscription NFT assets and other Inscription assets on the IERC platform, using the advantages of Inscription to upgrade the gameplay of the GameFi ecosystem. Sparkle is the industry's first Web3 astrology project, incubated by Binance Labs, with Folius Ventures leading its Pre-seed round of financing. In addition, Sparkle reminds users to wait for official deployment and subsequent announcement of the token model for NFT and Tick assets, and to be aware of the risk of counterfeiting. Tick will be airdropped directly to Sparkle NFT holders and $ethi holders without the need for minting.

CeFi Information

Crypto.com launches regulated cryptocurrency derivative product Strike Options for US users

On November 13th, according to official sources, Crypto.com, a cryptocurrency trading platform, announced the launch of regulated cryptocurrency derivative product Strike Options for US users. The announcement stated that the product is regulated by the CFTC and currently supports BTC, ETH, LTC, and BCH as underlying assets, with more products to be launched in the future.

Cboe Digital will launch Bitcoin and Ethereum margin futures and clearing services on January 11 next year

On November 13th, Cboe Digital announced plans to launch Bitcoin and Ethereum margin futures and clearing services starting on January 11th, 2024. Cboe Digital stated that it will become the first regulated cryptocurrency-native company to merge a trading platform and clearinghouse on a single platform, enabling spot and leveraged derivative trading. After obtaining regulatory approval, Cboe Digital plans to expand its product suite to include physically delivered products.

Viewpoint Data

Pantera Capital reviews FTX bankruptcy one year later: less than 5% of investment portfolio suffered significant impactOn November 14th, Pantera Capital issued a statement on the one-year anniversary of FTX's bankruptcy, reviewing the impact of the event on its investment portfolio and the measures taken in response. After news of FTX and Alameda's financial difficulties emerged, Pantera Capital formed an emergency team to assess the impact on its investment portfolio and developed strategies for risk identification and team assistance. According to the announcement, less than 5% of the investment portfolio team was significantly affected due to the company's consistent risk management practices. In addition, Pantera Capital proposed several suggestions, including establishing internal processes to minimize the time assets stay on any trading platform or third party, implementing a multi-signature process to diversify the risk of on-chain and off-chain trading counterparts, and maintaining the liquidity and security of the company's financial assets. The company stated that this event was a learning opportunity and emphasized its commitment to building a more efficient, decentralized, and open financial ecosystem, which remains unchanged.

Greeks.live: ETH bulk trading increases, with its option volume accounting for 40% of today's total trading volume

On November 13th, Greeks.live, a platform for encrypted options tools, posted on social media that on the first trading day of this week, the volume of ETH bulk trading increased, with the number of options exceeding 60,000, accounting for 40% of the total trading volume of the day, with a nominal value of $120 million.

CoinShares: Last week, digital asset investment products saw a net inflow of USD 293 million

On November 13th, according to the CoinShares weekly report, the total inflow of funds for digital asset investment products last week was $293 million, and the total inflow of funds from the beginning of the year to date was $1.14 billion. Bitcoin ETP trading volume accounted for 19.5% of the total Bitcoin trading volume on credible exchanges, indicating that ETP investors were more involved in this rally compared to 2020 and 2021. Last week, the total inflow of funds for Bitcoin was $240 million, pushing the total inflow of funds from the beginning of the year to date to $1.08 billion. Ethereum's inflow of funds reached a record high since August 2022, reaching $49 million. Solana welcomed a further inflow of $12 million in total.

Bloomberg ETF analyst: Bitcoin spot ETF more likely to be approved in January next yearOn November 13th, Bloomberg ETF analyst James Seyffart posted on social media that if the SEC approves a Bitcoin spot ETF, the ETF is more likely to be approved during the January window period than this week's window period.

Financing Express

BC Technology Group sells 90% equity of Shanghai Jingwei and continues to suspend trading briefly for new share issuance

On November 14th, BC Technology Group Limited (stock code: 00863.HK) announced that it had signed a share transfer agreement with an independent third party on November 12th, 2023, to sell 90% equity interest in its indirectly wholly-owned subsidiary, Shanghai Jingwei Enterprise Development Co., Ltd. The transaction price is approximately RMB 23 million (approximately HKD 24.6 million). After the completion of the transaction, Shanghai Jingwei Enterprise Development Co., Ltd. will no longer be a subsidiary of BC Technology Group. This sale constitutes a major transaction of the company, which requires compliance with the declaration, announcement, communication, and shareholder approval requirements of Chapter 14 of the listing rules. BC Technology Group will convene a special general meeting of shareholders to approve the share transfer agreement and the proposed transaction. In addition, BC Technology Group has applied for a temporary suspension of trading of its shares on the Stock Exchange of Hong Kong to await the announcement of the issuance of new shares (which constitutes inside information of the company).

Traditional financial asset tokenization company Fnality completes $95 million Series B financing, led by Goldman Sachs and BNP Paribas

On November 14th, Fnality, a fintech company focused on tokenizing traditional financial assets, announced the completion of a $95 million (77.7 million pounds) Series B funding round led by Goldman Sachs and French bank BNP Paribas, with participation from DTCC, Euroclear, Nomura Securities, and WisdomTree. Formerly known as the Utility Settlement Coin project, Fnality is committed to achieving cash on-chain and delivery versus payment (DvP) in wholesale banking through the use of shared ledgers. Fnality CEO Rhomaios Ram stated that this funding reflects the financial industry's demand for blockchain-based settlement solutions supported by central bank currencies, bridging traditional finance (TradFi) and decentralized finance (DeFi) in the wholesale market. Mathew McDermott, head of digital assets at Goldman Sachs, called Fnality a "key driver" of the growing trend of asset tokenization, with its blockchain technology providing institutions with a reliable way to handle various potential use cases such as cross-border, cross-currency instant payments, collateral liquidity, and securities trading.

Terraform Labs acquires cross-chain data provider Pulsar Finance

On November 13th, according to The Block, Terraform Labs announced the acquisition of cross-chain investment portfolio management and analysis startup Pulsar Finance. Chris Amani, who replaced Do Kwon as CEO, stated that Terraform has "never stopped building", but the company needs some time to adjust its strategy after Do Kwon's departure.

The Block CEO: Foresight Ventures has acquired the majority stake in The Block

On November 13th, Larry Cermak, CEO of the cryptocurrency media outlet The Block, confirmed on his social media platform that Foresight Ventures has acquired a majority stake in The Block. Cermak will continue to serve as the CEO and the company's operations will not be affected. The acquisition will be used to expand into the Asian and Middle Eastern markets. According to Foresight Ventures, the transaction values The Block at $70 million. As part of the acquisition, Forest Bai, CEO of Foresight Ventures, will serve as the Chairman of The Block's board, and Tony Cheng, a partner at Foresight Ventures, will also join the board.

Regulatory News

Tornado Cash case enters fifth circuit court of appeals, US Treasury Department's sanctions on "unhosted immutable software" questioned

On November 14th, according to court documents, the Tornado Cash case has been submitted to the Fifth Circuit Court of Appeals for review, with the aim of challenging the US Treasury Department's sanction decision against Tornado Cash, an ownerless and immutable software. The appeals court will conduct a fresh review of the case and re-evaluate all relevant legal issues. The Treasury Department's action is based on congressional authorization to prohibit transactions involving certain "property" in which foreign "nationals" or sanctioned "persons" have an interest. However, the sanctions are considered to greatly expand the scope of this authorization. On the one hand, the Treasury Department claims that anyone holding TORN tokens is an "entity" and can therefore be treated as a single sanctionable "individual". On the other hand, the Treasury Department defines non-ownable immutable open-source software as "property". This definition has sparked controversy because, by definition, property can be owned, and immutable smart contracts cannot be owned by anyone.

BlackRock denies registering iShares XRP Trust in Delaware

On November 14th, according to Bloomberg, a registration document for "iShares XRP Trust" allegedly submitted by asset management giant BlackRock appeared on the official website of Delaware, which caused market attention and led to a short-term increase of nearly 13% in XRP after the news spread. However, a spokesperson for BlackRock clearly stated that the document was false information and had nothing to do with BlackRock. Market information shows that XRP is now priced at $0.6684 and has given back its previous gains.

The US Financial Services Commission will hold a hearing on November 15 to discuss illegal activities in the cryptocurrency ecosystem.

On November 13th, the US Financial Services Commission (FSC) announced that it plans to hold a hearing on November 15th to delve into illegal activities in the cryptocurrency ecosystem. The theme of this hearing is "Cryptocurrency Crime Background: Breaking Illegal Activities in Digital Assets", and attendees will include well-known cryptocurrency entrepreneurs. According to the committee's schedule, Bill Hughes, Senior Advisor and Global Regulatory Affairs Director at Consensys, and Jonathan Levin, Co-founder and Chief Strategy Officer at Chainalysis, will testify as witnesses at the hearing. The hearing will also examine the depth of anti-money laundering and counter-terrorism financing (AML/CTF) measures implemented by cryptocurrency trading platforms and DeFi providers. In addition, the hearing will discuss the role of regulatory entities such as the Financial Crime Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), and the Department of Justice (DOJ) in combating financial crimes.

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