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Ken Sim, mayor of Vancouver, Canada's third largest city, announced plans to include Bitcoin in the balance sheet of the city of Vancouver to diversify the city's investment portfolio and become a Bitcoin-friendly city. This proposal will be submitted to the city council on December 11.
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QCP: Wall Street achieved record highs after President-elect Trump nominated Scott Bessent as Treasury Secretary, lifting market sentiment. Bessent’s market-friendly approach and potential willingness to moderate Trump’s tariff policies fueled optimism, driving a broad rally across markets, with risky assets leading the charge.
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MicroStrategy announced the completion of its 0% convertible senior notes due 2029, with a total principal amount of 3$3 billion, up from the previously announced $2.6 billion. Net proceeds, after deductions, totaled approximately $2.97 billion. The company intends to use the funds to purchase more Bitcoin and for general corporate purposes.
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Bitcoin reached a record high of US$97,852, and its market share reached 58.1%. In the past 24 hours, the total amount of liquidation in the entire network reached 449 million US dollars, and a total of 157,569 people were liquidated.
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As Meme transactions are hot, Solana's fees reached $11.84 million and revenue reached $5.92 million, setting a new single-day record; Solana's largest DEX Raydium's fees approached $15 million for two consecutive days, with daily revenue of about $1 million; Solana MEV infrastructure Jito's fees reached $15.55 million and revenue reached $622k, setting a new record; Solana's meme launch tool Pumpfun's fees and revenue reached $2.46 million on the same day, a new single-day record.
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The U.S. District Court for the Northern District of California rejected Lido’s claim that it was not a legal entity and determined that Lido participants profited from governance and operations and could not avoid liability. Although Lido did not sell tokens directly, its advertising and promotion of tokens through cryptocurrency exchanges was considered a securities sale. This case sets a new legal precedent for the legal status of DAOs and the liability of their members.
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Polish presidential candidate Sławomir Mentzen has promised to adopt a strategic Bitcoin reserve if elected. Mentzen revealed in 2022 that he invested all his funds in Bitcoin in 2013. However, Sławomir Mentzen's party is a smaller party in Poland.
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McDonald's announced a brand partnership with Ethereum NFT series Doodles to launch an event called "GM Spread Joy". Starting from November 18, McCafe coffee cups will use Doodles' iconic rainbow theme design. Customers who purchase any McCafe hot drink in the United States can unlock a variety of Doodles benefits.
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According to FOX Business, the strategic bitcoin reserve bill introduced by the Pennsylvania House of Representatives on Thursday is the first of its kind and will allow the state treasury to allocate 10% of its approximately 7$7 billion in state funds to bitcoin. The bill will be submitted to the Republican-led Senate for review in the coming weeks and, if passed, will be submitted to the governor for signature.
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Just In: Binance announced the 61st project on Binance Launchpool - Usual (USUAL), a decentralized Fiat Stablecoin issuer. Binance Pre-Market will then list USUAL at 2024-11-19 10:00 (UTC) and open pre-market trading for the USUAL/USDT trading pair.
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David Bailey, CEO of Bitcoin Magazine and one of Trump's campaign crypto aides, said that at least one country has been actively buying Bitcoin and is now a top five holder. Qatar and Saudi Arabia may be the unnamed countries Bailey is referring to, while he said it was not China, Ukraine, the United Kingdom, Finland or Georgia.
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Vitalik published an article titled "From prediction markets to info finance", stating that one of the Ethereum applications that excites him most is the prediction market. He has been a close supporter and follower of Polymarket, which provides a gambling site for participants and a news site for everyone else. Information finance solves the trust problem that people actually have and has a scalable blockchain as its foundation.
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Upbit, South Korea's largest crypto exchange, will launch DRIFT Korean Won, BTC, and USDT trading pairs. Drift Protocol is one of the largest open source perpetual futures DEXs on Solana and has previously been listed on Coinbase.
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HashKey Global announced the initial listing of HashKey Platform Token (HSK) in the Innovation Zone. HSK is the platform token of HashKey Group, and will be used across all HashKey businesses, covering global licensed exchanges, investment and asset management, tokenization, infrastructure services, and HashKey Chain.
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Binance Research released a Memecoin research report, pointing out that 75% of Memecoins were created in the past year, which attempts to embody the basic principles of the cryptocurrency: fairness, transparency, and decentralization. However, 97% of Memecoins are dead. Some "Memecoin Groups" that uses retail traders to pump and dump scams. The long-term success of Memecoin may require creating and maintaining unique narratives.
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Breaking: Bitcoin spot ETF had a total net outflow of $541 million yesterday, November 4, the second highest single-day net outflow in history. The highest single-day net outflow was $563 million on May 2. Ethereum spot ETF had a total net outflow of $63.2238 million yesterday.
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The Ethereum and Solana hot wallets of the online casino Metawin were hacked. Using the "frictionless withdrawal system" vulnerability of the protocol, hackers stole more than $4 million. Some of the funds have been transferred to Kucoin and HitBTC.
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CoinShares' latest report shows that based on second quarter cash cost data, the average cost of producing one bitcoin for all listed miners is now $49,500, and if depreciation and stock compensation are included, this average cost will rise to $96,100. Mining companies are increasingly diversifying their revenue sources to include AI.
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QCP: Short-term implied volatility remains elevated above 72 vols for the upcoming Election week for both BTC and ETH with put skews growing higher as traders load up on downside protection. Regardless of the outcome, we believe the Elections will be another sell-the-news action, replicating the Nashville Bitcoin conference.
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Electric Capital released a global crypto developer distribution research report showing that through the analysis of more than 110,000 developer profiles, North America's leading position was surpassed by Asia. North America's developer share fell from 44% in 2015 to 24% in 2024. At the same time, Asia's share climbed from 13% to 32%
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