Headlines
BTC briefly breaks through 81,000 USDT, setting a new record high
Odaily Planet Daily reported that OKX market data showed that BTC briefly broke through 81,000 USDT, reaching a high of 81,568 USDT, setting a new historical high.
MicroStrategys Bitcoin holdings have a floating profit of over $10 billion
Odaily Planet Daily reported that as the price of Bitcoin broke through US$79,000, MicroStrategys Bitcoin holdings had a floating profit of more than US$10 billion.
As of September 19, 2024, MicroStrategy holds a total of 252,220 bitcoins, with a total purchase cost of approximately US$9.9 billion and an average price of approximately US$39,266.
MicroStrategy founder Michael Saylor posted on the X platform suggesting that he may continue to increase his BTC holdings. He said: I think there needs to be more green dots on the saylortracker website.
Note: This website is a record-tracking website for MicroStrategy’s purchase of Bitcoin. The green dot means the operation of purchasing BTC.
US SEC postpones decision on whether to approve Ethereum spot ETF options
According to official news from Odaily Planet Daily, the U.S. SEC has postponed its decision on whether to approve Ethereum spot ETF options in order to conduct more analysis and collect public opinions, especially on whether the proposed rule changes comply with the requirements of the Securities Exchange Act. The SEC emphasized its concerns about the potential impact of the proposal on preventing market manipulation, protecting investors, and ensuring a fair trading system.
According to information from traders on the platform, the Polymarket platform claims that it predicts that the trading volume of the platform will decline in the future. At the same time, users who reinvest their bonuses in other betting and guessing activities may be eligible for higher rewards in the future.
Data from The Block shows that the number of active users on the Polymarket platform in October was 235,300. In addition, according to media inquiries, Polymarket CEO Shayne Coplan said that Polymarket is not open to US users.
Earlier news, The Information reported that Polymarket was considering raising $50 million and launching its own token.
Industry News
Odaily Planet Daily reported that the American Securities Association (ASA) issued a statement calling on Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), to resign immediately. Chris Iacovella, president and CEO of ASA, said, Voters have voted that the country needs a new direction. Chairman Gensler should respect the results of this vote and resign immediately. This is the only way for American working families, retirement savers and small businesses to rebuild trust and confidence in the SEC. (American Securities)
Odaily Planet Daily News Cardano founder Charles Hoskinson has confirmed plans to work with the US government under Trump to help develop cryptocurrency legislation. The goal is to create a clear regulatory framework for the cryptocurrency industry, which has faced uncertainty and regulatory challenges for many years.
Hoskinson unveiled the plans in a recent speech, saying that developing positive policies regarding cryptocurrencies requires support from both Democrats and Republicans. He said his company Input Output Global (IOG) will set up a separate policy department for cryptocurrency regulation. The office will focus on developing a legislative framework that incorporates the provisions of the 21st Century Financial Innovation and Technology Act (FIT21) and the Responsible Financial Innovation Act (RFIA). He added: I will work with legislators and the administration to push for a bipartisan bill to be passed. (CoinGape)
FTX sues SkyBridge Capital and its founder to recover investment funds for creditors
Odaily Planet Daily News FTX filed a lawsuit against Anthony Scaramucci and his hedge fund SkyBridge Capital in an attempt to recover funds for creditors. The lawsuit is one of 23 lawsuits filed in the Delaware Bankruptcy Court on Friday. Court documents show that plaintiffs also include digital asset exchange Crypto.com and political groups such as FWD.US founded by Mark Zuckerberg.
FTX claims that during the 2022 crypto bear market, founder SBF engaged in influence buying activities and made lavish and ostentatious investments throughout the year.
One relationship in which SBF invested a significant amount of time and money was with Scaramucci, as he built “financial, political and social” networks, according to the documents.
FTX is now seeking to recoup those investments, saying they “brought little benefit” and “instead only bolstered SBF’s position in politics and traditional finance.”
SBF invested $67 million in various SkyBridge businesses in 2022 as Scaramucci had been “seeking a bailout,” the firm said. SkyBridge’s assets under management have fallen to $2.2 billion from a high of $9 billion in 2015, according to the filing.
A representative for Scaramucci declined to comment.
In September 2022, SBF and Scaramucci announced that FTX’s venture capital arm would acquire a 30% stake in SkyBridge. Financial terms were not disclosed at the time. Scaramucci said at the time that the investment reflected that he was “thinking about the next decade at SkyBridge.” (Bloomberg)
Top trader Eugene: Binance is gradually relaxing the upper limit of leveraged trading positions
Odaily Planet Daily News: Top trader Eugene said that Binance has recently increased the maximum position limit for multiple currencies (Neiro, Mooden, GOAT, TIA, etc.), indicating that Binance is opening the gates of leverage. In normal times, the risk exposure of holders of newly listed tokens/smaller tokens will be 1x 3 million US dollars, with a maximum of 5 million US dollars. The latest announcement shows that the maximum exposure limits for Neiro, Mooden, and GOAT are 80 million US dollars, 20 million US dollars, and 20 million US dollars, respectively.
According to Odaily Planet Daily, the user 2024.qklpj.eth who accidentally transferred 7912 ezETH to the contract address in June this year published a bounty announcement on X, promising to provide a 10% reward to those who helped him successfully recover the funds, which is about 2.5 million US dollars at the current price.
The analysis pointed out that it was previously confirmed by Shenyu that the CoboSafeAccount involved was a logical contract that stored risk control logic. It could not be upgraded or transferred, and assets could only be retrieved through recasting by the Renzo project. It seemed that this plan did not work.
Project News
NEAR AI: Alpha version product is now online
Odaily Planet Daily reported that NEAR AI has released an Alpha version on the X platform, including a customized AI smart assistant that can interact on Web2 and Web3 by connecting with other AI agents and services. At the same time, the NEAR AI Research Center will support community-built AI research and basic model creation, with the goal of building a 1.4 T parameter model.
dYdX is launching dYdX Unlimited
According to official news from Odaily Planet Daily, dYdX will launch dYdX Unlimited this month, including the launch of a permissionless market, MegaVault (which obtains liquidity from dYdX users and acts as a market maker for all dYdX Chain markets), and the Affiliates Program. This is one of the most important upgrades in the history of dYdX.
It also said that a series of other enhancements are expected to be launched in the coming months, including new integrations with popular wallets and third-party services, license keys, instant deposits, and more innovative features.
Odaily Planet Daily News According to official news, Immutable announced the launch of Passports Pre-Approved Transactions feature, enabling games to seamlessly handle blockchain transactions in their environment.
Currently, pre-approved exchanges only work with game-issued assets to ensure a controlled and secure environment, and the future roadmap includes expanding these features to support IMX, USDC, and ETH, always keeping player safety and asset security top priority.
Odaily Planet Daily reported that the decentralized social protocol Farcaster will launch the App Frames function, with the goal of allowing developers to develop and distribute social applications in the best way: distribute applications in the feed and hook (i.e. cast operation, exploration) of any Farcaster client; use identity to provide social context and allow authenticated operations; prompt users to perform Farcaster operations, such as sending casts or joining channels; use familiar tools (such as wagmi) to interact with users Ethereum wallets.
Source: OpenSea V2 may launch loyalty program and retroactive rewards
Odaily Planet Daily News: NFT trader john.weth shared information about the beta version of OpenSea V2 on his social platform. Relevant screenshots show that OpenSea V2 will update the UI and launch a loyalty program, where users can earn XP rewards. In addition, the new version will also provide retroactive rewards for old OpenSea users, but the method and extent of the rewards are still to be determined.
According to Dune data from Odaily Planet Daily, pump.fun has accumulated revenue of over 170 million U.S. dollars (177,958,960 U.S. dollars) and has deployed a total of over 3.1 million tokens.
STEPNs advisor unlocked shares for this month have been transferred to the GMT Foundation address
According to the latest on-chain data monitoring, last night, GMTs advisor unlocking share for this month was transferred to an address suspected to be the GMT Foundation. This move may be related to the GMT teams future strategic adjustments and ecological incentive plans, but the specific motivation is not yet clear.
Sources revealed that the GMT team has repurchased all unlocked tokens from investors and consultants, involving a total of up to 600 million GMT.
Regulatory trends
Biden and Trump will meet at the White House on the 13th
Odaily Planet Daily reported that the White House issued a statement on the 9th that at the invitation of President Biden, Trump, who won the 2024 presidential election, will meet with Biden at the White House at 11:00 Eastern Time on the 13th (00:00 Beijing Time next Thursday). No other details have been released yet. (Jinshi)
Bloomberg: Law firm partners Farley and Champ among candidates to succeed Gensler as SEC chairman
Odaily Planet Daily reported that Richard Farley, a partner at Kramer Levin Naftalis Frankel, and Norm Champ, a partner at Kirkland Ellis, are among the candidates to succeed Gary Gensler as chairman of the U.S. Securities and Exchange Commission, according to people familiar with the matter. Other people familiar with the matter said that Dan Gallagher, legal director of Robinhood Markets Inc., current U.S. Securities and Exchange Commission commissioner Mark Uyeda, and former Commodity Futures Trading Commission chairman Heath Tarbert are also under consideration. People familiar with the matter said that former U.S. Securities and Exchange Commission commissioner Paul Atkins and Robert Stebbins, a partner at Willkie Farr Gallagher, are also in the running.
Members of President-elect Donald Trump’s transition team and other advisers began talks with potential candidates after the election, according to some people familiar with the matter. Discussions are ongoing and it may be weeks before a candidate is finalized. Whatever Trump chooses, the next SEC chairman is likely to carefully review major Gensler-era rules that have yet to be implemented or take effect, and seek to reduce regulation of the digital asset industry to comply with securities laws. (Bloomberg)
Odaily Planet Daily reported that recently, the Bank of Korea signed a usability testing agreement for CBDC and tokenized deposit pilot projects with the Ministry of Science and ICT (MSIT) and the Financial Services Commission (FSC).
As reported in September, the Bank of Korea is preparing to conduct a tokenized deposit trial for around 100,000 people, having announced formal plans for such a trial a year ago, in conjunction with a wholesale central bank digital currency (wCBDC) for interbank settlements.
In June, MSIT and the Korea Internet and Security Agency (KISA) provided the Bank of Korea with a budget to develop a voucher program using smartphones, which can be used to purchase welfare, cultural, educational and other goods and services. As a result, the Bank of Korea developed a digital voucher management platform designed to address the settlement complexity and fraud potential associated with paper vouchers. The voucher will use Singapores dedicated money (PBM) model, which essentially encapsulates deposit tokens in smart contracts and defines the conditions for the use of the tokens.
The FSC has approved seven local banks to participate as innovative financial services, although the banks compliance will be constantly reviewed. These banks include Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, Industrial Bank of Korea, Nonghyup Bank and Busan Bank. It is worth noting that deposit tokens will be protected by the traditional deposit protection system. So far, the Bank of Korea has not announced details about user recruitment and vouchers. (Ledger Insights)
Norway supports MiCA, considers CBDC for financial stability
Odaily Planet Daily reported that the Norwegian central bank, Norges Bank, has recognized the European Crypto Assets Market Supervisory Authority (MiCA), and the country is evaluating the possibility of adopting a central bank digital currency (CBDC).
Kjetil Watne, project director of the Norges Bank CBDC project, said that Norway, as a member of the European Economic Area (EEA), welcomes MiCAs framework. However, he pointed out that the bank is still considering whether additional regulation is needed to promote financial stability. Norges Bank has not yet decided whether to issue a CBDC, and is evaluating how to mitigate regulatory gaps related to decentralized finance. (Cointelegraph)
Investment and Financing
Odaily Planet Daily reported that Santiago Roel Santos, a former partner of ParaFi Capital, announced the launch of a new private equity fund, Inversion Capital, which will acquire traditional companies that can benefit from business model transformation by adopting encryption mechanisms.
Santos believes that crypto-transforming traditional businesses can help them operate better, faster, and cheaper. Some businesses can benefit from adopting crypto tools to solve coordination problems that manifest as higher operating costs, capital expenditures, or reduced unit economics. He explained that it doesnt matter whether business owners are reluctant to accept cryptocurrencies because Inversion Capital will not be an investment partner, but will directly acquire these businesses.
Santos did not detail how much he plans to raise through the fund, nor did he say whether an initial target has been selected. (The Block)
Layer 1 blockchain developer Pharos completes $8 million seed round
Odaily Planet Daily News: Layer 1 blockchain developer Pharos has completed a $8 million seed round of financing, led by Lightspeed Faction and Hack VC, with SNZ Capital participating as a strategic investor. Other investors include Dispersion Capital, Hash Global, Generative Ventures, MH Ventures, Zion and Chorus One.
Odaily Planet Daily reported that RWA stablecoin protocol Usual announced the completion of a new round of financing of US$1.5 million. This round of financing was participated by Comfy Capital, early encryption project investor echo, Breed VC founder Jed Breed and others. The specific valuation data has not been disclosed yet.
Usual said the project plans to launch a token generation event TGE to support its construction of a USD 0 stablecoin backed by real-world assets. The protocol raised $7 million in a strategic round of financing in April this year. Investors at the time included IOSG Ventures, Kraken Ventures, etc. As of now, the total financing amount has reached $8.5 million.
Web3 shopping app Bion completes a new round of strategic financing, with TON Ventures participating
Odaily Planet Daily reported that Web3 shopping application Bion announced the completion of a new round of strategic financing, with TON Ventures participating. The specific amount of financing and valuation data have not been disclosed. Bion mainly uses blockchain technology to enhance the shopping experience and provide value-added services to consumers. The new funds will be used to expand its Web3 shopping platform that provides cash back rewards and enhance its crypto rewards.
Character*Voice
CZ: As Bitcoin continues to hit record highs, investors should properly manage risks
Odaily Planet Daily News CZ posted on the X platform that as Bitcoin continues to hit record highs, investors also need to conduct proper risk management. There will be many more troughs (and highs) in the future, and you should make sure you can handle them, control your greed, and dont put all your eggs in one basket.
Vitalik publishes an article on prediction market: Information finance brings us closer to the truth
Odaily Planet Daily News Vitalik published a new article From Prediction Markets to Information Finance and said that he has been a close supporter and follower of Polymarket this year, and the prediction market is one of the Ethereum applications that excites him the most.
Vitalik believes that Polymarket has two sides, one is a betting site for participants, and the other is a news site for everyone else. When the election results gradually came out, although many experts and news sources had been tempting viewers to hear news that was favorable to Harris, Polymarket directly revealed the truth, that is, Trumps chance of winning has reached 95%. The investment of real money by users can make the market realize what the truth is closer to.
In addition, prediction markets can also use finance as a way to align incentives in order to provide valuable information to the audience. Information finance solves the trust problem that people actually have. A common concern of this era is the lack of knowledge and not knowing who to trust in political, scientific and business environments. Information finance applications can help become part of the solution. He predicts that one technology that will drive the development of information finance in the next decade is artificial intelligence.
Odaily Planet Daily News: Ari Paul, founder and CIO of digital asset investment company BlockTower, posted on the X platform that the market is currently in the early part of the latter part of the overall bull market (i.e., the progress is about 70%, or 66%). Recent buyers are preparing for a 6-12 month rise, and more are institutional rather than retail speculation.
I personally expect the market to have a fairly gradual rebound at this stage, and I may see $90,000 or even $125,000 in BTC. Retail participation will gradually increase, bringing with it rising leverage and volatility. At present, buying the right assets and holding them for the next few months may be the wisest strategy. In the later stages of the bull market, more aggressive trading will be rewarded.
1 Confirmation founder: Polymarket is the largest investment to date, predicting that the market will grow 100 times in the future
Odaily Planet Daily News: Nick Tomaino, founder of cryptocurrency investment institution 1confirmation , posted on the X platform, The largest investment to date is Polymarket. We invested in the early stages of the project in 2020 and have supported the company to this day. Currently, Polymarkets trading volume has exceeded 2.6 billion US dollars and has become the best real-time prediction tool for the US presidential election. You can watch founder and CEO Shayne Coplan on CNBC to discuss how Polymarket continues to publish election news before other media. Some analysts say that trading volume will decline after the election, but I think the prediction market will grow 100 times in the next few years, and Polymarket will lead this trend. Geopolitical, cultural, health and sports markets will occupy an important position in the prediction market, and the growth of the political market will continue.
