Headlines
BTC surpassed 70,000 USDT this morning, 24H increase of 2.6%
According to OKX market data, BTC surpassed 70,000 USDT this morning, reaching a high of 70,332 USDT, with a 24H increase of 2.6%.
Hong Kong Stock Exchange to launch virtual asset index series
The Hong Kong Stock Exchange announced that it will launch a series of virtual asset indices on November 15, 2024, providing a reliable benchmark price for this rapidly emerging asset class and supporting Hong Kong's development as Asia's leading digital asset center.
The index series will provide transparent and reliable benchmarks for the pricing of Bitcoin and Ethereum in the Asian time zone, aiming to offer a unified reference price for virtual assets and address price discrepancies across global exchanges.
New York Times: Bloomberg's owner has spent nearly $100 million supporting Harris
Several insiders revealed that former New York City Mayor and Bloomberg owner Michael Bloomberg recently donated $50 million to a nonprofit organization supporting U.S. Democratic presidential candidate Harris.
Insiders stated that Bloomberg's latest donation went to the nonprofit Future Forward USA Action. Prior to this anonymous donation, he had already provided $47 million in public political donations to the Democratic Party, making him the second-largest donor among Democratic mega-donors, only behind George Soros.
Market Movements
According to CoinGecko data, the current total cryptocurrency market cap is $2.47 trillion, with a 24H increase of 0.5%. Additionally, BTC's market share is 55.9%, and ETH's market share is 12.5%.
According to Coinglass data, $169 million was liquidated across the network in the past 24 hours, with long positions liquidated at $72.82 million and short positions liquidated at $95.78 million.
Coinglass data shows that the total open positions for BTC contracts across the network amount to 586,100 BTC, approximately $41.039 billion, setting a new historical high with a 24H increase of 6.81%.
Among them, the CME BTC contracts have open positions of 164,600 BTC (approximately $11.497 billion), ranking first with a 24H increase of 3.11%;
Binance BTC contracts have open positions of 125,400 BTC (approximately $8.785 billion), ranking second with a 24H increase of 8.73%.
On October 28, local time, the U.S. stock market closed with all three major indices rising collectively, the Dow Jones up 0.65%, the Nasdaq up 0.26%, and the S&P 500 index up 0.27%. Cryptocurrency concept stocks rose broadly, with MARA Holdings up over 11%, Riot Platforms and Canaan Technologies up over 9%, and MicroStrategy up nearly 9%.
Trump concept stocks strengthened, with Trump Media Technology Group rising over 21%, with a cumulative increase of nearly 200% this month. (Interface News)
Industry News
Deepa Raja Carbon, Managing Director and Vice Chairman of the Dubai Virtual Assets Regulatory Authority (VARA), stated that after the turbulence in the virtual assets industry, there is a greater desire for clear regulations, which is why international exchanges are developing business in Dubai. Hong Kong and Dubai share very similar DNA; regulatory approaches to virtual assets do not need to be identical, but coordination between regulatory bodies is crucial, as many virtual asset scams do not occur in a single region. Dubai and Hong Kong's regulatory departments also have close ties, and they highly appreciate Hong Kong's regulatory approach. They are willing to consider opportunities for collaboration if the trading or business is suitable for development in the region.
Hong Kong has released its first policy guidelines dedicated to the application of artificial intelligence in the financial sector and proposed tax exemptions for virtual assets, aiming to establish Hong Kong as a commercial hub in Asia.
To support licensed virtual asset trading platforms in developing sustainable business models, the Hong Kong Securities and Futures Commission is establishing a formal consultation group composed of representatives from each licensed institution to ensure that the Commission considers their views in the policy-making process.
Indian central bank governor Shaktikanta Das reiterated a cautious stance on cryptocurrencies, stating they could undermine the stability of the financial system.
Das recently spoke at the Peterson Institute for International Economics' 2024 Macro Week, stating that the creation of cryptocurrencies is intended to bypass the traditional financial system. The fundamental issue is whether authorities or governments are willing to accept privately issued cryptocurrencies that possess all the characteristics of money.
He believes that issuing currency is traditionally a sovereign function. Allowing cryptocurrencies to flourish could detach parts of the economy from central bank control, which could lead to currency instability.
Crypto lobbying organizations Blockchain Association and Crypto Council for Innovation submitted an "amicus curiae" brief supporting the ongoing lawsuit against the U.S. SEC, which aims to actively clarify regulations related to token airdrops.
These nonprofits argue that the judge in the Waco district court should compel regulators to respond to claims made by the U.S. clothing brand Beba and the DeFi education fund that airdrops do not violate securities laws.
Microsoft's major shareholders BlackRock and Vanguard to vote on proposal to study buying BTC
Bitcoin supporter and Stanford University math PhD Fred Krueger posted on X that BlackRock holds 7% of Microsoft (MSFT) shares, second only to Vanguard, and also holds 8% of MicroStrategy (MSTR). These shareholders will vote on Monday to decide whether they should study the possibility of buying BTC.
Project News
MicroStrategy (MSTR) has seen its stock price rise nearly 250% this year, continuing a 353% increase in 2023.
While BTC has achieved strong growth in 2024, its increase is far less than that of MSTR. At the time of writing, BTC's year-to-date return is 60%, while MSTR's return is nearly four times higher.
As of October 27, the Optimism Superchain has reached a daily transaction volume of 7.5 million, a month-on-month increase of 21.1%. Additionally, the Optimism Collective has accumulated a total revenue of 15,800 ETH to date.
Degen: 9th season Airdrop 2 and 3rd season Raindrop 2 airdrop to be distributed on October 31
Degen announced on X that the 9th season Airdrop 2 and the 3rd season Raindrop 2 airdrop will be distributed on October 31. The snapshot will cover all tips up to midnight UTC on October 30.
bitSmiley to provide staking rewards of 3% of total token supply for bitDisc-Black stakers
According to an official announcement from bitSmiley, 3% of the total token supply has been locked for bitDisc-Black staking rewards, which will be distributed based on the amount of bitJade held by users.
Ethena Labs: Team and investors have not used locked tokens for sENA staking "mining"
Ethena Labs posted on X stating that they are aware of some questions on Discord and X regarding whether "investors or the Ethena team are using locked tokens to earn Ethereal rewards through sENA." They want to clarify to the community that absolutely no locked tokens that should belong to the team or investors are being staked for sENA to earn any rewards, including Ethereal. This was publicly confirmed on Discord last week.
Coinbase: Will not execute ANT to ETH conversions on behalf of users
Coinbase Assets posted a reminder on X that Aragon (ANT) is undergoing a token dissolution. As announced by the Aragon Association, ANT holders can exchange ANT for ETH at a fixed rate of 0.0025376 ETH/ANT before November 2, 2024, but Coinbase will not execute ANT to ETH conversions on behalf of users.
Swell L2 is migrating to Optimism Superchain
According to official news, Swell L2 is migrating to the Optimism Superchain. This move will allow Swell L2 to join the superchain as an Optimistic Rollup built on the OP Stack.
Vitalik transfers 100 ETH to each of four addresses, suspected donations to UHF fund and others
On-chain analyst Yu Jin monitored that Vitalik Buterin transferred 100 ETH, worth $1.027 million, to four addresses. This includes the UHF fund, which may indicate that Vitalik is making donations to some organizations/institutions.
Vitalik releases "The Splurge," outlining future development goals for the Ethereum protocol
Vitalik released the future development of the Ethereum protocol (Part Six: The Splurge), with key goals as follows:
- Achieve a high-performance and stable "endgame state" for the EVM;
- Introduce account abstraction in the protocol, allowing all users to benefit from more secure and convenient accounts;
- Optimize transaction fee economics to improve scalability while reducing risks;
- Explore advanced cryptographic technologies that can enhance Ethereum in the long term.
Voices
BlackRock CEO: Bitcoin is an international asset, not based on any currency
BlackRock CEO Larry Fink stated, "Bitcoin is an international asset. It is not based on anyone's currency." (Cointelegraph)
Investment and Financing
According to official news, the Bitcoin-native stablecoin project bitSmiley announced the completion of a $10 million Series B funding round, attracting several well-known investment institutions, including MH Ventures and Skyland Ventures, which will provide strong support for bitSmiley to expand Bitcoin's liquidity and application scenarios in decentralized applications.
Solana ecosystem project Streamflow completes new round of strategic financing, led by John Lilic
The Solana ecosystem project Streamflow has completed a new round of strategic financing, led by John Lilic, with participation from Jump Crypto, Solana Ventures, IVC, GBV, Genblock, Hypersphere, Amber, VentureDAO, T3E, Huobi, and Primeblock, along with a group of angel investors. Streamflow is a comprehensive digital asset management infrastructure company dedicated to promoting the on-chain development of token-based economies. (Decrypt)
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