Selected News:

1. Mad Labs floor price has risen to 129.3 SOL, with a 24-hour increase of 38.96%.

2. Solana ecosystem liquidity staking protocol Jito launches governance token, with 10% of the total supply distributed through retroactive airdrop;

3. Binance's new CEO's first open letter: Today, Binance is stronger than ever before;

4. Justin Sun responds to the statement that "Tron has become the preferred cryptocurrency network for terrorist organizations": Tron is committed to combating terrorist financing;

5. The US Department of Justice believes that the risk of CZ fleeing is controllable and does not want to detain CZ before the verdict.

Price Observation

Mad Labs floor price rises to 129.3 SOL, up 38.96% in 24 hoursOn November 28th, according to Magic Eden market data, the floor price of NFT Mad Labs in the Solana ecosystem rose to 129.3 SOL (approximately $7,135 USD), with a 24-hour increase of 38.96%.

Transaction Tracking

Celsius 7 hours ago transferred 5000 ETH to CEX, worth about $10.12 million

On November 28th, according to Lookonchain monitoring, 7 hours ago, the bankrupted crypto CeFi platform Celsius transferred 5000 ETH, approximately $10.12 million, to Binance and OKX through FalconX.

FTX transferred 8 million MATIC and 1529 ETH to CEX in the past 8 hours

On November 28th, according to Lookonchain monitoring, FTX transferred 8 million MATIC (approximately 5.95 million USD) and 1529 ETH (approximately 3.22 million USD) to Coinbase and OKX in the past 8 hours.

Amber deposited 10,000 ETH to Binance 4 hours ago

On November 27th, according to Lookonchain monitoring, Amber deposited 10,000 ETH worth approximately $20.18 million to Binance 4 hours ago.

Cryptocurrency market maker Cumberland transfers 9,000 ETH to Coinbase and Gemini

On November 27th, according to Lookonchain's monitoring, the cryptocurrency market maker Cumberland transferred a total of 9,000 ETH, worth approximately $18.16 million, to Coinbase and Gemini in the past 5 hours.

Bigtime project team transfers 12.5 million BIGTIME to GSR Market again.

On November 27th, according to @ai_9684xtpa monitoring, the multi-signature address of the Bigtime project party transferred 12.5 million BIGTIME tokens worth 2.5 million USD to GSR Market 5 minutes ago. Previously, on October 31st, the same address transferred 12.5 million BIGTIME tokens to GSR.

Project Updates

LayerZero has launched the Public Goods Network (PGN).

On November 28th, according to an official announcement, the cross-chain interoperability protocol LayerZero has been launched on the Layer2 network Public Goods Network (PGN). Developers on PGN can extend their applications to over 40 chains with LayerZero endpoints.

Cosmoshub4 has been launched by the Cosmos team, with specific regulations for AtomOne fork, covering token economics and other aspects.

On November 28th, Jae Kwon, co-founder of Cosmos, released the specific charter for the Cosmos fork AtomOne, including declarations, vision and mission, genesis allocation, token economics, AtomOne governance, AtomOne technical advisory committee, etc., in response to the Cosmos community's different views on mission, token economics, and security.

ATOM1 is defined as the minimum staking token for the ICS1.5 IBC AtomOne Hub. The Hub always maintains 2/3 staking of ATOM1, with 10% of ATOM1 being pre-mined for various purposes. 80% of the inflation + reward flow goes to stakers who choose validators.

Audit DAO Code4rena Twitter account suspected of being hacked and promoting false token airdropsOn November 28th, according to @officer_cia's monitoring, the DAO Code4rena Twitter account was suspected to have been hacked and promoting a false token airdrop.

When asked if Binance would adopt a traditional corporate structure under his leadership, Teng gave a positive answer. Teng said, "Once the corporate structure is thoroughly reformed, financial data will be made public. As an organization, we are committed to transparency." When asked when Binance can disclose its board composition and release financial statements like its competitor Coinbase, Teng refused to provide specific details but said he has a "robust timeline."

CVX, BLUR, WLD are among the top Smart Money inflows in the 24-hour ranking list.

On November 28th, according to Nansen 2 data, the Smart Money 24-hour Ethereum network fund inflow tracking list is as follows:

CVX: Approximately $1.63 million, currently priced at $3,634, with a 24-hour decrease of 2.29%.

BLUR: Approximately 1.03 million US dollars, currently priced at 0.5161 US dollars, with a 24-hour decline of 5.09%.

WLD: about 770,000 US dollars, currently priced at 2.555 US dollars, a 24-hour decline of 3.26%.

Vitalik: Account abstraction can protect our crypto assets, and may also protect other types of assets in the future

On November 28th, Vitalik Buterin, co-founder of Ethereum, posted on social media that artificial intelligence is fundamentally different from other technologies and deserves special caution. In Ethereum, we intentionally try to ensure that many parts of the stack are decentralized: ensuring that no single codebase controls more than half of the proof-of-stake network, attempting to resist the dominance of large stake pools, and improving geographical dispersion, etc. Essentially, Ethereum is actually trying to achieve an ancient liberal dream based on the market society. To some extent, this is effective: the dominance of the Prysm client has dropped from over 70% to below 45%. But this is not an automatic market process: it is the result of human will and coordinated action.

Blockchain enables us to create an economic and social structure with a "shared hard drive" without relying on centralized entities. Cryptocurrencies allow individuals to store funds and conduct financial transactions, just like using cash before the advent of the internet, without relying on trusted third parties that may change the rules arbitrarily. They can also serve as backup anti-counterfeiting mechanisms, making attacks and spam expensive for users who do not or do not want to reveal their true identities. Account abstraction, especially social recovery wallets, can protect our crypto assets and may also protect other types of assets in the future without relying too much on centralized intermediaries.

Zero-knowledge proof can be used for privacy protection, allowing users to prove things about themselves without revealing personal information. For example, signing a digital passport with ZK-SNARK to prove that you are a unique citizen of a country without revealing which citizen you are. Similar technologies can allow us to enjoy the benefits of privacy and anonymity while still ensuring security and combating spam and bad actors.

Justin Sun responds to "Tron becomes the preferred cryptocurrency network for terrorist organizations" statement: Tron is committed to combating terrorism financingOn November 27th, Justin Sun responded to negative rumors on his social media platform, stating that Tron is a decentralized protocol similar to Bitcoin and Ethereum, with nodes running globally. The global super representatives are responsible for running this protocol. Although Tron is committed to combating terrorism financing by integrating various analytical projects and partners, its primary task is still to maintain decentralization, ensuring the security of everyone's assets and providing instant, affordable, and reliable transactions as always.

Tether issued 1 billion USDT on Ethereum 10 minutes ago (authorized but not yet issued)

On November 28th, according to monitoring data from Whale Alert, stablecoin issuer Tether issued 1 billion USDT on Ethereum 10 minutes ago. Tether CEO confirmed that the issuance has been authorized but not yet distributed.

Bloomberg analyst: The actual reason for Ark Invest's sale of GBTC is that the latter has reached its position limit

On November 27th, Eric Balchunas, a senior ETF analyst at Bloomberg, posted on social media that Ark Invest has been frequently selling GBTC recently. Some in the crypto community believe that this indicates that they are not truly bullish on Bitcoin or that they are making room for their own Bitcoin ETF.

In fact, Ark Invest sold GBTC to maintain its investment portfolio weight. Since August, GBTC has risen by 76%, so Ark Invest had to sell a large amount of stocks to maintain its fund's required allocation limit of around 9%.

CoinShares: Last week, net inflows of digital asset investment products were $346 million, marking the 9th consecutive week of net inflows.

On November 27th, according to CoinShares' weekly report, the net inflow of funds for digital asset investment products was $346 million last week, marking the 9th consecutive week of net inflows and the largest single-week inflow in nearly 9 weeks. The report pointed out that the current market is experiencing the largest round of growth since the bull market at the end of 2021, driven by market expectations of the launch of spot-based ETFs in the United States. The combination of price increases and inflows has now pushed the total assets under management (AuM) to $45.3 billion, the highest level in a year and a half.

Last week, the total inflow of Bitcoin was $312 million, making the inflow since the beginning of the year slightly higher than $1.5 billion. The proportion of ETP trading volume to the total spot trading volume of Bitcoin is still much higher than the average level, reaching 18% last week, highlighting the continued increase in the use of ETPs to gain exposure to this asset class. Ethereum saw an inflow of $34 million last week, bringing the total fund inflow over the past four weeks to $103 million, almost reversing the outflow trend this year, marking a decisive shift in market sentiment. The total inflows of Solana, Polkadot, and Chainlink were $3.5 million, $800,000, and $600,000, respectively.

PancakeSwap: Today destroyed more than 9.23 million CAKE, worth about $21 million

On November 27th, according to official sources, PancakeSwap announced that it has burned over 9.23 million CAKE tokens, worth approximately $21 million.

Financing Express

Cryptocurrency fund CGV invests $5 million in Blast ecosystem

On November 27th, Japanese cryptocurrency investment company CGV announced a $5 million special investment in the Blast ecosystem, aiming to jointly promote the development of the Blast network.

Farcana, a blockchain game studio, has received strategic investment from Animoca Brands.

On November 27th, according to official sources, Farcana, a chain game studio based in the United Arab Emirates, announced that it has received strategic investment from Animoca Brands. The company is committed to promoting digital property rights in games and virtual worlds, in order to promote the beta release and development of Farcana in the Bitcoin ecosystem. Farcana is built using Unreal Engine 5 and is a team-based third-person shooter game that offers competitive tournaments supported by a permanent Bitcoin prize pool, and will be one of the first AAA Web3 games to launch "Free Mint" Bitcoin Ordinals. The game has attracted over 40,000 users and is hosting new tournaments based on preliminary game testing plans in Dubai.

Regulatory News

WSJ: US SEC continues to demand evidence from Binance.US regarding potential fraud

On November 28th, according to the Wall Street Journal, the US Securities and Exchange Commission (SEC) is still searching for evidence of possible manipulation of assets stored on Binance.US by Binance and CZ.

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