Headlines
TradingView data shows BTC market share surpasses 60%
TradingView data shows that BTC market share has surpassed 60% (currently at 60.08%), an increase of 16.43% this year.
According to OKX market data, BTC briefly rose to 73650 USDT early this morning before retreating, just about 130 USDT away from the previous high of 73787.1 USDT in March this year.
Total market cap of Memecoins on Solana exceeds 12 billion USD, setting a new all-time high
According to monitoring by Solana Floor, the total market cap of Memecoins on Solana has exceeded 12 billion USD, setting a new all-time high. Among them, WIF ranks first in Solana Memecoin market cap with 2.65 billion USD, followed by: POPCAT (1.7 billion USD), BONK (1.51 billion USD), MEW (890 million USD), GOAT (630 million USD), and BOME (613 million USD).
Industry News
According to market news, US September JOLTs job openings were at 7.443 million, expected to be 8 million, with the previous value revised from 8.04 million to 7.861 million. (Jin Shi)
Poll: Harris's lead over Trump narrows to just one percentage point
A Reuters/Ipsos poll released on Tuesday shows that in the final stages of the US presidential campaign, Harris's lead over Trump has narrowed to just one percentage point, at 44% to 43%. (Jin Shi)
US Treasury's new financial inclusion strategy does not mention the role of cryptocurrencies
The US Treasury has developed a new financial inclusion strategy to help people access the financial system, but the 35-page report mentions cryptocurrencies only once, highlighting the Treasury's work in marking the dangers of the industry.
Despite Vice President Harris stating during her campaign that she would encourage cryptocurrencies as part of her economic agenda, the current administration has maintained a distance from digital assets, which may be the last mention of cryptocurrencies by the US Treasury before next week's election.
Biden thanks Nigerian president for facilitating the release of Binance executive Tigran Gambaryan
According to a statement from the White House, President Biden called Nigerian President Bola Tinubu on Tuesday to thank him for his leadership in ensuring the release of US citizen and Binance executive Tigran Gambaryan on humanitarian grounds last week.
Project News
Jito officially announced that it will launch the first phase of Restaking at 15:00 UTC on October 30, during which the deposit window will open. Users can deposit through the Jito Restaking homepage or the front ends provided by Renzo, Kyros, and Fragmetric. The initial deposit cap is set at 25 million USD, which will be gradually increased in the coming weeks.
USDC Treasury burns 50 million USDC on Ethereum chain
According to Whale Alert monitoring, around 20:22 Beijing time today, USDC Treasury burned 50 million USDC on the Ethereum chain.
Crypto wallet MetaMask developer Consensys lays off 20% of its staff
Crypto wallet MetaMask developer Consensys announced a 20% layoff, affecting about 160 employees. The company's founder and CEO Joe Lubin announced this in a blog post, attributing the layoffs to macroeconomic headwinds and legal expenses from the company's long-standing battles with regulators. Consensys previously sent an open letter to future US presidents requesting clear and supportive regulations for cryptocurrencies and Web3. The letter pointed out that regulatory decisions need to be transparent to keep the US competitive globally while addressing consumer protection and illegal activities. It stated that regulatory uncertainty in the US hinders the development of blockchain technology. The company noted that despite the global adoption of decentralized platforms, there is a lack of a comprehensive framework. (Fortune)
According to an official announcement, Binance will launch Binance Wealth, aimed at supporting wealth managers and their high-net-worth clients interested in expanding their cryptocurrency asset investment. It primarily caters to the needs of wealth managers, further connecting traditional markets and crypto markets, encouraging more institutional and private wealth to enter the cryptocurrency asset space.
It is reported that Binance Wealth provides wealth managers with a platform directly integrated within Binance, helping them oversee every step of their high-net-worth clients' crypto journey—from KYC/KYB processes to investment consulting.
Optimism Foundation agrees to grant 25 million OP tokens to Kraken
The Optimism Foundation has agreed to grant 25 million OP tokens to Kraken, a deal finalized around January or February this year, paving the way for Kraken to use Optimism's OP Stack. Kraken announced last week that it will build a layer 2 network called Ink on top of Optimism's OP Stack blockchain framework.
Tether Treasury mints 1 billion USDT on Tron this morning (authorized but not issued)
According to Whale Alert monitoring, at 4:43:51 Beijing time, Tether Treasury minted 1 billion USDT on Tron.
Tether CEO Paolo Ardoino commented that this is an authorized but not issued transaction, meaning it will be used as inventory for the next issuance request and on-chain exchanges.
The Arena: ARENA token deployed and initial airdrop claims open
The Arena, a social protocol in the Avalanche ecosystem, announced on X that ARENA was deployed today at 7:30, and all initial airdrop allocations are now claimable. ARENA will initially trade on LFJ.
Circle raises USDC exchange fee for the second time this year
In less than a year, Circle Internet Financial Ltd. has raised its fees for USDC exchanges for the second time.
Visa partners with Coinbase to offer real-time cryptocurrency purchase services via debit cards
Visa Inc. has partnered with Coinbase Global Inc., allowing Visa customers with eligible debit cards to fund their Coinbase accounts (sometimes instantly).
dYdX Trading cuts 35% of core team members
According to an official announcement, dYdX Trading has cut 35% of its core team members.
CEO and co-founder Antonio Juliano stated, "The decision was made because we realized that the company we built is different from the company dYdX needs to become. We will move forward with clarity and new passion. We will create amazing products."
Voices
Matthew Siegel, head of digital asset research at VanEck, stated that Bitcoin's recent rise seems related to political changes and global economic concerns. Siegel pointed out that factors such as the upcoming US elections, changes in money supply, and international developments in Bitcoin mining have influenced recent price trends.
Coinbase CEO Brian Armstrong posted on X: “The next SEC chair should withdraw all meaningless cases and apologize to the American people.
This will not cause the damage that the nation deserves, but it will initiate the process of restoring people's trust in the SEC as an institution.”
CZ ranks 16th on the Hurun Rich List with a wealth of 135 billion yuan
According to the latest "2024 Hengchang Shaofang · Hurun Rich List" released by the Hurun Research Institute, CZ ranks 16th with a personal wealth of 135 billion yuan, an increase of 90 billion yuan compared to last year.
ai16z whale: bought 17% of the supply for 80 SOL, will donate 11% to support DAO development
Elijah Madonia, a whale holding 16% of the ai16z supply, posted on X reflecting on his early experience buying ai16z.
Elijah stated that he initially purchased 17% of the ai16z supply for 80 SOL and later sent some tokens to ai16z founder Shaw and another team member because “they didn’t even have the opportunity to buy themselves.” Elijah then distributed some tokens to friends at a discounted price, hoping to share the profits.
Nomura warns: Market is over-hedged against Trump trades, "Harris surprise" may occur
Nomura Managing Director and Americas Cross-Asset Macro Strategist Charlie McElligott warned in a recent report that in recent weeks, the market has over-hedged against the hypothetical outcome of Trump and the Republican Party winning both houses of Congress, which may lead to a scenario where Harris's approval rating is higher than expected, resulting in a deadlock in the election, posing reversal risks for various assets. This is because in the coming days and the next two weeks, the US Treasury will undergo a large issuance in the early fiscal year 2025, including the issuance of 70 billion USD in five-year Treasury bonds, 69 billion USD in two-year Treasury bonds, and 44 billion USD in seven-year Treasury bonds, along with the JOLTS report disclosing US job vacancies, the Treasury's latest refinancing announcement, personal consumption expenditures (PCE), non-farm payroll data (NFP), US presidential election day, and the November FOMC meeting. (zerohedge)
DWF Labs: Has removed the partner accused of drugging women from related positions
In response to the recent allegations against a DWF Labs partner for drugging women, DWF Labs officially posted on X: We have noted the recent allegations against one of our partners involving inappropriate and unacceptable behavior, which is deeply concerning. While this matter is still under investigation, DWF Labs has decided to immediately remove this partner from management and operational positions.
According to @hananotsorry Hana's X account, on the evening of October 24, a DWF partner placed unknown drugs in her drink multiple times at a bar in Hong Kong, and she was later rescued by staff.
Investment and Financing
AI startup Sierra raises 175 million USD at a valuation of 4.5 billion USD
AI startup Sierra Technologies, founded by OpenAI board chair Bret Taylor and former Alphabet (GOOGL.US) executive Clay Bavor, has completed a 175 million USD financing round, achieving a valuation of 4.5 billion USD, led by Greenoaks Capital Partners, with participation from Thrive Capital, Iconiq Capital, and existing investors. This deal represents a significant leap in the company's valuation, which was close to 1 billion USD earlier this year.
Stablecoin project CAP Labs announced on X that it has completed 1.9 million USD in Pre-Seed financing, with participation from Kraken Ventures, Robot Ventures, ANAGRAM, ABCDE Labs, SCB Limited, and others.
CAP Labs is building a scalable crypto-native stablecoin that provides users with various crypto-native yields, including MEV, arbitrage, and other types of returns. Its mainnet is scheduled to launch in the first quarter of 2025.
Talent Protocol receives strategic investment from Base Ecosystem Fund
Web3 talent marketplace protocol Talent Protocol announced on X that it has received a strategic investment from the Base Ecosystem Fund (led by Coinbase Ventures). After a year of collaboration, Base is increasing its investment in the partnership. The TALENT token will launch on the Base chain tomorrow.
Crypto insurance broker Native raises 2.6 million USD in seed funding, led by Nexus Mutual
Crypto insurance broker Native has raised 2.6 million USD in seed funding led by Nexus Mutual. Native will provide 20 million USD in on-chain insurance and operate a fund pool on Nexus Mutual. Nexus Mutual's insurance alternatives can also be accessed through a product called Base DeFi Pass across many major protocols on Coinbase's Layer 2 network.
Since its establishment in 2019, Nexus Mutual has insured approximately 5 billion USD in crypto assets and paid out 18 million USD in claims. (Coindesk)
Bitcoin liquidity staking platform PumpBTC announced the completion of 10 million USD in seed funding, led by SevenX Ventures and Mirana Ventures, with participation from well-known institutions such as UTXO, Mantle Ecosystem Fund, and attracted several industry partners including Quantstamp and Veda.
Community-oriented Web3 content platform Libraro announced the completion of phase one of its seed funding, led by Ayre Ventures. Specific funding amounts and valuation information have not been disclosed. The new funds will be used to expand its Web 3 loyalty program and on-chain author identity features, prevent copyright infringement, and enhance the transparency of content ownership and distribution rights. (bebeez)
Security Incidents
Truth Terminal founder's X account suspected of being hacked and promoting new token $IB
Truth Terminal founder Andy Ayrey announced on X the launch of a new token $IB, suspecting that his account had been hacked.
Yuxian: Keystone X account hacked, beware of phishing risks
Slow Mist's Yuxian posted a reminder that the Keystone X account has been hacked, and to be cautious of any information it posts (including private messages), to guard against phishing attacks.
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