Selected News:

1. The tokens in the AI sector have seen a general rise, with AGIX rising over 20% in the past 24 hours.

2. TAO (Bittensor) has a circulating market value of over $1.5 billion, ranking among the top fifty cryptocurrencies by market capitalization.

3. friend.tech TVL has fallen to $33.98 million, with a drop of 19.5% in the past two days;

4. Backpack Exchange has now launched SOL/USDC trading pair trading;

5. Microsoft CEO: OpenAI founders Sam Altman and Brockman will join Microsoft.

Price Observation

BONK 24-hour surge over 50%, hitting a new historical high

On November 20th, according to CoinGecko market information, the Solana ecosystem's Meme token BONK has seen a 54.1% increase in the past 24 hours, with a current price of 0.0000046 USD, reaching a new all-time high.

AI sector tokens see a general rise, with AGIX up over 20% in 24 hoursOn November 20th, according to market data, AI sector tokens experienced a general rise in prices. Among them:

TAO 24-hour increase by 3.4%, with a current price of 264.59 US dollars;

AGIX 24-hour increase by 22.75%, currently priced at 0.3 USD;

PHB 24-hour increase of 21.46%, currently priced at 0.81 US dollars;

WLD 24-hour increase of 18.08%, currently priced at $2.42;

OCEAN 24-hour increase by 15.17%, currently priced at $0.47.

FET 24-hour increase of 14.39%, with a current price of 0.53 USD.

NEAR surged above $2, with a 24-hour increase of 12.83%.

On November 20th, according to OKX market data, NEAR rose above $2 and is currently priced at $2.02, with a 24-hour increase of 12.83%. Since hitting a low of $0.97 on October 18th, the increase has reached 109%.

WLD short-term rise more than 16%, hitting the highest point since the end of July this year

On November 20th, according to OKX market data, WLD rose over 16% in a short period of time, now priced at $2.64, possibly influenced by the news that OpenAI founder Sam Altman will join Microsoft.

Chain-based perpetual contract protocol Equation's native token EQU rose more than 70% in a single day.

On November 20th, according to coinmarketcap data, the on-chain perpetual contract protocol Equation's native token EQU rose by over 70% in the past 24 hours, with a current price of 11.51 USDT and a highest point of 12.14 USDT. EQU is the native token of Equation, with a maximum supply of 10 million, 100% of which is generated through holding mining, liquidity mining, and recommended mining rewards for community users. The initial daily issuance of EQU is 10,000, and EQU holders can earn transaction fees generated by the protocol through the staking function provided by Equation.

Aevo 上 PYTH 期货价格暂报 0.41 美元

Translation:

Aevo reports PYTH futures price at $0.41

On November 20th, according to data from the options trading platform Aevo, the PYTH futures price is currently reported at $0.41, with a 24-hour decline of 3.68% and a 24-hour trading volume of $46,710. The current open interest is $78,774.

SNX breaks $3.7, hitting a new high since September last year

On November 20th, according to OKX market information, SNX broke through $3.7 and is currently priced at $3.715, with a 24-hour increase of 24.34%, reaching a new high since September last year.

TAO (Bittensor) broke through $290, with a 24-hour increase of 12.4%

OpenAI

Affected by the news that "Sam will not return to OpenAI", WLD fell more than 6% in the short term.

On November 20th, according to OKX market data, WLD fell more than 6% in the short term, now trading at $2.25, possibly due to the impact of "Sam Altman will not return to OpenAI" news released by The Information.

Microsoft CEO: OpenAI founders Sam Altman and Brockman will join Microsoft

On November 20th, Microsoft CEO Nadella announced that OpenAI founders Sam Altman and Brockman will be joining Microsoft. Altman and Brockman will lead a new Microsoft AI team and quickly provide the necessary resources for Altman's team.

Twitch co-founder Emmett Shear confirmed to have taken over as CEO of OpenAI

On November 20th, Twitch co-founder Emmett Shear announced on social media that he has taken on the role of OpenAI CEO. Emmett stated that he accepted the invitation from the OpenAI board after careful consideration. His top priority in the coming weeks will be to ensure that OpenAI continues to provide excellent service to all customers. It is clear that the process and communication regarding Sam's expulsion were very poor, which severely damaged OpenAI's trust.

Emmett said that they have three plans for the next 30 days regarding this incident: first, to hire an independent investigator to thoroughly study the entire process that led to this result and prepare a complete report; second, to continue to talk to as many employees, partners, investors, and customers as possible, take notes, and share key points; and third, to reform the management and leadership team based on recent departures.

Project Updates

ETHGlobal announced the 10 finalists of the Istanbul Hackathon

On November 20th, according to official sources, ETHGlobal announced the top 10 finalists for the Istanbul Hackathon, including:

· Clade Club: A fair social governance platform that prioritizes data-driven decision-making.

· S.C.I: Smart Contract Integrity - a verification protocol that prevents fraud or phishing attacks on the network;

· BridgeBuddy: A wallet that can automatically bridge funds.

· Buddy-Guard: A social security application designed to protect people who go out at night.

· Sarma: A simplified development assistant tool for privacy implementation;

· AidDistribute: A tool that ensures stablecoin direct transfers are traceable.

· TapTrust: An entry-level tool based on AA and NFC technology;

· Footy Stars: A blockchain-based fantasy football game with real-world betting services.

· ZKvote.cc: An on-chain voting system with ZKP support;

· Lens & Frens: A zero-knowledge proof ticketing system based on Lens.

Due to the launch of XONE, a new project by XEN founder, the Ethereum GAS price briefly surged to over 100 gwei.

On November 20th, due to the launch of XONE token by Jack Levin, the founder of XEN, the GAS price on the Ethereum network briefly surged to over 100 gwei. According to Etherscan data, the XONE token contract address 0x4DCDa...d6E4fE1c has consumed over 700,000 USD (approximately 350 ETH) worth of GAS in the past 3 hours, accounting for 24.19% of the total GAS consumption on the network and ranking first in consumption.

XEN founder's new project XONE token has been fully minted, Ethereum gas fee drops to 40 gwei

On November 20th, according to the official website, XEN founder Jack Levin's new project XONE token has been fully minted with a total supply of 500 million. Etherscan data shows that the XONE token contract address has consumed over 1.12 million US dollars (approximately 559 ETH) in GAS in the past 3 hours, accounting for 38.78% of the total GAS consumption on the network, ranking first in consumption. In addition, Ethereum mainnet gas fees have dropped to 40 gwei.

TAO (Bittensor) circulating market value has exceeded 1.5 billion US dollars, ranking among the top fifty cryptocurrencies by market capitalization.

On November 20th, according to Bitget market data, TAO (Bittensor) broke through $270 in a short period of time, with a 24-hour increase of 5%, reaching a historical high. Currently, TAO's circulating market value is about $1.502 billion, rising to 44th place in the cryptocurrency circulating market value ranking on CoinGecko. In the past 24 hours, TAO's trading volume on the MEXC platform accounted for 77.56% of the entire network.

TAO (Bittensor) is a Crypto+AI concept project with a mission to establish a decentralized network that can compete with previously "only achievable by giant companies like OpenAI" models through unique incentive mechanisms and advanced subnetwork architecture. TAO has risen over 400% in the past 30 days with significant market fluctuations, so investors should be aware of the risks.

Aave community votes to add FXS to Aave V3 liquidity pool proposalOn November 20th, according to the Aave governance page, the Aave community voted in favor of the proposal to "add FXS to the Aave V3 liquidity pool". The proposal suggests adding the Frax Finance token FXS to the Aave V3 liquidity pool and diversifying the collateral assets of GHO.

MovieBloc and DWF Labs strengthen cooperation to achieve decentralization of the film industry

Bernstein report: Bitcoin market value is expected to increase to over $3 trillion by mid-2025

On November 20th, according to a research report from investment research firm Bernstein, cited by CoinDesk, Bitcoin is expected to become a global macro political asset, with its market value expected to increase to over $3 trillion by mid-2025. The fundamentals of cryptocurrency have never been better. As of writing, the market value of Bitcoin is $726.5 billion.

CoinShares: Last week, digital asset investment products saw a net inflow of $176 million

On November 20th, according to the CoinShares weekly report, the total inflow of funds for digital asset investment products last week was $176 million, marking the 8th consecutive week of inflows. The total inflow of funds since the beginning of the year has reached $1.32 billion. Last week, the inflow of funds for Bitcoin was $155 million, and there were also inflows for various altcoins, with Solana, Ethereum, and Avalanche receiving $13.6 million, $3.3 million, and $1.8 million respectively.

Regulatory News

Atomic Wallet requests US court to dismiss $100 million lawsuit over hackOn November 20th, according to Cointelegraph, the parent company of Atomic Wallet has requested that a US court dismiss a class action lawsuit seeking $100 million in compensation for a hack, arguing that the claims should be brought in Estonia where its headquarters are located. In a motion to dismiss filed on November 16th with the Colorado District Court, the Estonian company argued that it is "not related to the United States" and that its end-user license agreement requires all lawsuits against the company to be brought in Estonia.

Atomic also argued that only one user in Colorado was affected, and 5,500 Atomic users who were claimed to be affected agreed to its terms of service, which explicitly denied any losses caused by theft and limited damages to $50 per user.

Mastercard partners with AI regulatory technology platform Feedzai to detect and combat cryptocurrency fraud

On November 20th, according to CNBC, Mastercard announced that it is collaborating with Feedzai, a regulatory technology platform that utilizes artificial intelligence to combat online money laundering and financial fraud, to detect and prevent fraudulent activities conducted through cryptocurrency trading platforms. Through this partnership, Feedzai will be directly integrated into Mastercard's CipherTrace Armada platform, which is used to help banks monitor transactions from over 6,000 cryptocurrency trading platforms to detect fraud, money laundering, and other suspicious activities.

The first digital securities transaction in Japan will start on December 25th.

On November 20th, according to Bloomberg, the Osaka digital trading platform will launch Japan's first digital securities transaction on December 25th. According to documents submitted to the authorities on Monday, Ichigo, headquartered in Tokyo, will sell approximately 3 billion yen (equivalent to 20.1 million US dollars) of real estate investment support securities. Security-type tokens are digitally managed securities that can provide investors with alternatives to traditional assets such as stocks, but so far, the lack of liquidity has limited such transactions.

Santander Private Bank offers Bitcoin and Ethereum trading and investment services to clients with accounts in Switzerland

On November 20th, according to CoinDesk, the international division of Santander Private Banking, a banking giant, is offering Bitcoin (BTC) and Ethereum (ETH) trading and investment services to high net worth clients with accounts in Switzerland. Santander stated that this service is only provided by client managers upon request, and assets are regulated with the bank storing private encryption keys in a secure environment.

Foreign media: BlackRock is restructuring its lobbying team to maintain its reputation and respond to regulatory challenges

On November 20th, according to Business Insider, as the US presidential election approaches and Congress continues to investigate BlackRock, the company is restructuring a key lobbying team that deals with government officials and regulatory agencies. John Kelly, Global Head of Corporate Affairs at BlackRock, wrote in a company memo that the asset management giant is seeking to hire a new US Government Affairs and Public Policy leader, as well as a new State Government Affairs leader. State-centric positions will be responsible for working in "priority state capitals" to manage state-level relationships. Kelly said the company faces "increasing reputational pressure in the US, as well as a series of complex policy challenges." He said the company must "adjust its strategy, deploy more resources, and respond to these challenges."

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