Editor's Choice
Daren Li, a 41-year-old Chinese citizen, pleaded guilty to laundering $73 million through cryptocurrency schemes, arrested in April 2024, faces up to 20 years in prison ⚖️
Daren Li, a 41-year-old Chinese citizen, pleaded guilty to laundering $73 million stolen through cryptocurrency schemes. He assisted in hiding the origin of the funds through shell companies and international banks. Li was arrested in April 2024. He faces up to 20 years in prison and a fine of up to $500,000. The trial is scheduled for March 2025.
PayPal USD (PYUSD) integrated with LayerZero for cross-blockchain transfers between Ethereum and Solana 🌉, market capitalization dropped to $513 million from a high of $1 billion 📉
PayPal USD (PYUSD), pegged to the US dollar, is integrated with the LayerZero protocol for transfers between Ethereum and Solana. Users can now move assets between blockchains without centralized platforms. The market capitalization of PYUSD has decreased from $1 billion in August to $513 million, with the majority of assets remaining on Ethereum. PayPal is also expanding the availability of PYUSD through a rewards program with Anchorage Digital.
Trump appointed Elon Musk and Vivek Ramaswamy as leaders of the new "Government Efficiency" department to fight bureaucracy and excessive spending 💰
Donald Trump appointed Elon Musk and Vivek Ramaswamy as co-leaders of the new "Government Efficiency" department, which will operate outside traditional government structures. The department's goal is to reduce bureaucracy, cut unnecessary spending, and reform federal agencies. Musk promised maximum transparency in the department's operations and the creation of a "leader of the most outrageous taxpayer spending." The department's work is expected to be completed by 2026.
Italy reduces the planned cryptocurrency tax hike from 42% to 28%, which significantly decreases the expected annual revenue by $18 million 💸📉
The Italian government plans to increase the cryptocurrency profit tax from 26% to 28%, instead of the previously proposed 42%, Bloomberg reports. According to sources, this decision reflects a revision of the initial plans, which were expected to generate $18 million annually. Meloni, the Prime Minister of Italy, seems ready to accept the increase in cryptocurrency taxes, but the final decision will require approval from parliament.
Jerome Powell stated that if Trump tries to fire him, he will sue. The Fed is ready for a legal battle to defend the independence of its chairman 🏛️
Scammers stole $6.09 million in Gigachad (GIGA) via a fake Zoom link, causing a 15% price drop to $0.049 and attracting the attention of the FBI and forensic experts 💻
Bitwise announces the launch of the world's first Bitwise Aptos Staking ETP (ticker APTB) on SIX Swiss Exchange from November 19, 2024, with an expected return of 4.7% 💰
ZettaBlock launches Kite AI: a decentralized blockchain foundation for secure access to AI data, models, and agents with transparent attribution and rewards 🔒
Tether announced the launch of an open Wallet Development Kit (WDK) for integrating non-custodial wallets into applications, websites, and devices supporting USDT and Bitcoin 💻
Deutsche Telekom MMS becomes the first telecom giant to operate a validator on the NEAR blockchain as part of Meta Pool's Enterprise Node Operator program 🚀, enhancing network security 🌐
Truflation launches the GameFi Index to track the profitability of leading P2E platforms with Immutable, Superverse, and Polygon, including 28 games with 50,000+ active daily users 🎮
Vatican and Microsoft have created a digital model of St. Peter's Basilica with 400,000 images and 22 petabytes of data to preserve heritage ahead of the 2025 anniversary 🏰
Sam Trabucco will transfer two real estate properties worth $8.7 million, a yacht worth $2.5 million, and lawsuit rights amounting to $70 million to FTX creditors as part of a settlement 🚢🏠
Sam Trabucco, the former co-CEO of Alameda Research, has agreed to transfer two real estate properties and a yacht to FTX creditors. As part of the agreement, he will also assign lawsuit rights against FTX worth approximately 70 million dollars. Trabucco received about 40 million dollars in “potentially recoverable transfers” from the debtors during his time at the company.
Bitcoin reached an all-time high of $86,000, increasing by 20% since November 6 after Trump’s victory, with optimism for crypto-friendly regulations 🚀
Bitcoin reached an all-time high, exceeding $86,000, marking a 20% increase since November 6. The rally is supported by expectations that the Trump administration will implement crypto-friendly regulations. Speculators are hopeful for the creation of a backup crypto fund. At the same time, investors betting on Bitcoin’s decline through ETFs lost $37 million. Trump has promised to make the U.S. the "crypto capital" and proposed reforms, including the dismissal of SEC Chairman Gary Gensler.
Canaan Inc. signed an agreement with HIVE Digital Technologies to supply 6,500 Avalon A1566 mining machines at 185 TH/s each, with the first batch of 500 machines already delivered ⚡
Canaan Inc. announced the signing of an agreement with HIVE Digital Technologies for the supply of 6,500 Avalon A1566 mining machines with a power of 185 TH/s each. The first batch of 500 machines has already been delivered and will be installed. The remaining 6,000 machines will be delivered monthly until March 2025. Canaan's Chairman, Nan Gen Zhang, expressed gratitude for choosing the company, highlighting HIVE's high efficiency and their commitment to ESG principles.
Germany sold 50,000 bitcoins for $2.8 billion in July, but has now missed out on $1.7 billion in profit as bitcoin rose 53% to $88,000 over 60 days 📉
In July, Germany sold nearly 50,000 bitcoins from confiscated assets for $2.8 billion, but now this amount stands at $4.5 billion, signifying a missed profit of $1.7 billion. The 53% rise in bitcoin over two months, spurred by Trump’s election victory, pushed its price to $88,000. The sale was part of an investigation into the piracy site Movie2k.co when BTC was priced at $43,000.
Best news of the last 10 days
Bitbank launches Bitbank Ventures for investments in blockchain, cryptocurrencies, and artificial intelligence: supporting Japanese startups with global potential and integrating new technologies into the crypto industry 🌍
Brevis raised $7.5 million in a seed round from Polychain Capital and Binance Labs to develop infinite blockchain scalability without state fragmentation 💰
Elon Musk supported the idea of subordinating the Federal Reserve System to the President of the United States, reacting with a "100" emoji to Senator Mike Lee's post #EndtheFed on November 10, 2024 ✅
Armed robbers in Thailand stole $250,000 in Tether from a Ukrainian, threatening him not to contact the police and leaving him at a hotel in Phuket, November 11, 2024 💰
Conflux Foundation is investing $500 million in PayFi to create a blockchain platform that integrates traditional financial services, such as credit cards and invoice financing, based on Web3 💳
Conflux Foundation plans to invest $500 million in the development of PayFi, a Web3 payments solution.The investment will be directed towards creating the PayFi blockchain platform, which aims to bring traditional financial services onto the blockchain. PayFi's goal is to create a more integrated value network, including financial products such as credit cards, invoice financing, and reverse factoring.The PayFi platform is built on the Conflux blockchain, which focuses on stable coin infrastructure and payments for everyday users.
Former executives of Millennium Management and Pimco, Benoit Bosc and Michael Bressler, founded the consulting company x2B for crypto projects, offering services in fundraising, token issuance, and financial management 🚀
Former executives of Millennium Management LLC and Pacific Investment Management Co. (Pimco) are launching a consulting company in the field of digital assets. Benoit Bosc, who previously managed a portfolio at Millennium, and Michael Bressler, who recently left his position as executive vice president at Pimco, founded the company x2B after leaving their positions in October and August, respectively. The company will provide consulting services for crypto projects, including fundraising, token issuance, financial management, and market-making organization. x2B plans to charge fees in both tokens and cash, based on the project’s prospects. Currently, the company has 10 clients.
Mesh and Reown are launching wallet ownership verification for Bitcoin to comply with the European Travel Rule, effective December 30, 2024, for cryptocurrency companies 🔐
Mesh has partnered with Reown to verify wallets in the Bitcoin ecosystem to comply with the new European Banking Authority (EBA) guidelines. Starting December 30, the Travel Rule will require cryptocurrency companies to exchange customer information for transactions over $1000 in order to combat money laundering. Mesh noted a high demand for wallet verification solutions that meet these requirements.
Hedge funds betting against Tesla shares lost over $5.2 billion after Donald Trump's election, while the company’s market capitalization exceeded $1 trillion 🚀📉
Hedge funds that bet against Tesla (NASDAQ: TSLA) shares suffered losses after Donald Trump's election victory. Since the election on November 5, the company’s shares have risen by 30%, increasing its market capitalization by over $200 billion to exceed $1 trillion.The share of hedge funds with short positions against Tesla fell from 17% in July to 7% as of November 6. These funds have lost over $5.2 billion since the election. As of November 11, Tesla shares reached $321.22, with a market capitalization of $1.03 trillion.