Selected News

1. Data: Blast Network TVL breaks $300 million;

2. PYTH short-term breakthrough $0.49, with a 24-hour increase of 34.36%;

3. The Polygon on-chain inscription market, POLS Market, has officially launched.

4. Justin Sun's platform/public chain has been stolen a total of $208 million in the past 2 months.

5. OKX Web3 wallet NFT market now fully supports Solana inscriptions.

Price Observation

PYTH short-term breakthrough $0.49, with a 24-hour increase of 34.36%

On November 23rd, according to OKX market information, PYTH short-term breakthrough 0.49 US dollars, now quoted at 0.4915 US dollars, with a 24-hour increase of 34.36%.

Bitcoin falls below $37,000, with a 24-hour increase narrowing to 1.1%.

On November 23rd, according to OKX market data, Bitcoin fell below $37,000 and is now priced at $36,992, with a 24-hour gain narrowing to 1.1%.

Transaction Tracking

Justin Sun withdrew about $2.34 million in liquidity from PancakeSwap

On November 23rd, according to PaiShield's monitoring, Justin Sun withdrew 11.5 million TRX (approximately $1.17 million) and over 1.16 million USDT (approximately $1.17 million) in liquidity funds from PancakeSwap. The address then bridged 11.5 million TRX to BitTorrent.

0x915 starting whale address sells 8 million RLB

On November 23rd, according to Spot on Chain, the whale address 0x915 sold 8 million RLB and exchanged it for 1.43 million USDC 15 minutes ago, causing a 4% drop in RLB price. In the past two weeks, the whale received 17.4 million RLB from the Rollbitcom ERC-20 hot wallet and quickly exchanged all RLB for 3.26 million USDC, causing a 30% drop in RLB price.

1inch team sells over 420,000 UNI tokens, earning a profit of $510,000 through trading

On November 24th, according to @EmberCN, the 1inch team sold all 420,828 UNI tokens at an average price of $6.29 and exchanged them for 2.64 million USDC tokens two hours ago. Previously, the team sold UNI tokens at an average price of $5.16 on November 17th, and then bought back 420,828 UNI tokens (equivalent to $2.13 million) at an average price of $5.06 on November 18th. The team made a profit of $510,000 through this trading strategy.

Project Updates

Solana ecosystem flow payment protocol Zebec has reached a deep strategic cooperation with Stellar Lumens.

On November 23rd, Zebec reached a deep strategic partnership with Stellar. The ecosystem will fully integrate Zebec's payment system and its compliant subsidiary service, Wagelink. The profits generated from this partnership will be used to repurchase and destroy ZBC. Stellar (XLM) is a decentralized open-source network that can be used to transfer and store money on an open payment network. As of press time, its market value is as high as $3.3 billion, ranking 24th in the cryptocurrency market value rankings.

Zebec (ZBC) protocol, supported by the Solana Foundation and invested in by Coinbase Venture, Republic, and Circle, has become the world's first on-chain wage payment product with tax functionality since its establishment in 2021. It is also the first ecological project approved to join the Visa program. In the United States alone, 50,000 salaried households use Zebec to receive their wages every week. Over the past 7 days, it has seen a growth of 22.5%.

Justin Sun's platform/public chain has been stolen for a total of $208 million in the past 2 months

On November 23rd, according to Cointelegraph's statistics, Justin Sun's platform/public chain has been attacked four times in the past two months, with a total stolen amount of 208 million US dollars. This includes: · On September 24th, HTX was stolen about 7.9 billion US dollars · On November 10th, Poloniex was stolen about 100 million US dollars · On November 22nd, HTX was stolen about 13.6 million US dollars · On November 22nd, the HECO chain was stolen 8,660 US dollars.

Cross-chain trading platform Chainflip officially launches token FLIP

On November 23rd, cross-chain trading platform Chainflip announced the official launch of its token, FLIP. FLIP has been listed on Bybit, KuCoin, Gate.io, and Crypto.com, and can be traded on Uniswap. In addition, Thunderhead's liquidity staking service has been launched, allowing users to stake FLIP and earn rewards without running their own nodes.

Starknet: Testnet has been migrated to Sepolia, support for Goerli will end by the end of 2023

On November 23rd, Starknet announced on social media that after Goerli was deprecated, the testnet will be migrated to Sepolia. On November 15th, Starknet migrated the full node, API service, SDK, and other Starknet development tools to the Sepolia testnet. Once ready, all developers will be urged to migrate to Sepolia. The Sepolia testnet will remain in a Clean state and support all Cairo v0, v2.0.0, and higher versions. Support for the Goerli testnet will end at the end of 2023, so developers are encouraged to migrate to Sepolia.

Lido node operator InfStones agrees to rotate validator keys after vulnerability disclosure

On November 23rd, according to The Block, InfStones, one of the core node operators of Lido Finance, will temporarily withdraw its Ethereum validator from the liquidity staking protocol and implement key rotation in response to a major vulnerability disclosed by dWallet Labs security researchers. The vulnerability is related to the open-source library Tailon and was reported to InfStones in July 2023 and has since been resolved. Nevertheless, this event led to the adoption of preventive security measures. Lido Finance confirmed that the vulnerability is related to potential root-level access affecting 25 InfStones validator servers, but there is no evidence that this issue has resulted in any key leaks or exploitation.

Morgan Stanley analyst: Once GBTC is successfully converted, it may avoid at least $2.7 billion in capital outflows

On November 24th, according to The Block, analysts at JPMorgan Chase stated that once the Grayscale Bitcoin Trust (GBTC) is converted to an ETF, it may face at least $2.7 billion in outflows. The potential outflows are due to investors apparently purchasing shares at a significant discount in anticipation of the ETF conversion and planning to arbitrage after the conversion. The current GBTC discount rate is the first time it has been below 10% since July 2021. However, analysts noted that most of the outflows are expected to move to other Bitcoin tools, such as a newly created spot Bitcoin ETF that may be approved by the US Securities and Exchange Commission.

Regulatory News

The US Department of Justice proposes to ban CZ from leaving the United States before sentencing.

On November 23rd, John Reed Stark, former head of the US SEC Internet Enforcement Office, posted on social media that this Tuesday, after CZ pleaded guilty, US District Judge Brian A. Tsuchida allowed CZ to return to the UAE before sentencing. However, the US Department of Justice requested that Judge Richard A. Jones review this decision and ordered CZ to stay in the US. According to the Department of Justice, the reason for detaining CZ is:

· CZ is very wealthy and a billionaire;

· Most of CZ's wealth may be beyond the control of the US authorities;

· CZ resides in the United Arab Emirates, which does not have an extradition treaty with the United States;

· Despite CZ's voluntary confession in court, with the increasing possibility of imprisonment, CZ may choose not to return to accept the verdict.

John Reed Stark said that he expects CZ's lawyers to make a strong and positive response, listing all possible mitigating factors related to CZ's cooperation and defense, as well as testimony or equivalent materials from CZ's family. Local court judges usually do not overturn the decisions of magistrate judges, although the US Department of Justice does not believe that CZ poses a danger to the community, the outcome of this motion seems somewhat unpredictable. However, according to the current terms of the bond agreement, CZ can leave the United States because he has deposited $15 million in a trust account, signed a $175 million personal guarantee bond, and found a guarantor to provide additional funds.

CZ Twitter account has been restored to normal

On November 24th, according to data from X (formerly Twitter) page, Binance founder CZ's Twitter account has been restored to normal. Earlier this morning, CZ's Twitter account was temporarily restricted, but clicking "Yes, view profile" still redirected to previously posted information.

Cryptocurrency trading platform WhaleFin sued by Atletico Madrid for unpaid $44 million sponsorship fee

On November 24th, according to Protos, Spanish football giant Atletico Madrid is reportedly preparing to sue cryptocurrency exchange WhaleFin, based in Singapore, for failing to pay €40 million (US$44 million) in sponsorship fees. The club had reached a five-year agreement with WhaleFin before the 2022/23 season, making the exchange one of its main sponsors. However, the club now claims that the company has violated the terms of the contract by failing to pay the sponsorship fees and is seeking €20 million (US$22 million) in compensation.

In December 2022, it was reported that WhaleFin owner Amber Group was facing financial difficulties and decided to terminate its $25 million annual sponsorship agreement with English Premier League club Chelsea just seven months after reaching the agreement.

SBF once provided cryptocurrency investment advice to guards while in prison, sharing a cell with the former president of Honduras

On November 24th, according to WSJ, SBF was arranged to be in the same cell as former Honduran President Juan Orlando Hernández, who is awaiting trial for accepting bribes from drug traffickers. According to Juan Orlando Hernández's lawyer, the two have a good relationship and have had close communication. In addition, SBF's requests for vegetarian food and medication for ADHD have been resolved in prison, and he is allowed to meet with non-lawyer visitors once a week, as well as use a special laptop to review legal documents, although his computer use is limited to a dedicated room with partitioned desks. WSJ also reported that SBF traded sardine packs (worth about $1.30 per pack) with other inmates for services. Before his trial in November, SBF exchanged an unknown amount of sardines for a haircut. According to an anonymous source, SBF also provided advice on cryptocurrency investments to guards.

BlockBeats previously reported that on November 3, US District Judge Lewis Kaplan set the sentencing date for FTX founder Sam Bankman-Fried on March 28, 2024. His defense lawyers opposed multiple rulings by Kaplan before and during the trial, and are expected to appeal the verdict.

A virtual currency OTC robbery case with involved amount of HKD 3.5 million was tried in the High Court of Hong KongOn November 24th, the Hong Kong High Court recently tried a virtual currency robbery case. A female USDT seller successfully completed four transactions with one buyer, with a total collection of over 6.87 million yuan. The female seller later went to a unit in a building in Kwun Tong without any alertness and conducted a transaction of 3.5 million yuan with the buyer. Suddenly, four masked robbers hiding in the room rushed out, threatening the female seller with knives and electric guns, and took away the plastic bag containing cash. Three of them were arrested and today (23rd) pleaded guilty to charges of robbery and were sentenced to 4 years and 8 months in prison by the High Court.

The presiding judge pointed out that the plan for this case was meticulous, and the criminals disguised themselves as victims of virtual currency transactions to commit robbery. The presiding judge stated during sentencing that the plan for this case was meticulous, and each defendant had premeditated the crime, with each person playing a different role. They first disguised themselves as conducting virtual currency transactions with the victim, and then carried out the robbery when the victim was alone. Before the crime, they also arranged for transportation to ensure a quick escape after the crime. According to the case, the female victim surnamed Yin and her husband began trading virtual currency (USDT) in 2018 and met the currently wanted male buyer in December 2020. Within a month, they went to the buyer's office and successfully completed four transactions of "Tether" cryptocurrency, receiving a total of more than 6.87 million yuan.

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