Headlines
The U.S. ADP employment data for October was 233,000, the largest increase since July 2023.
The number of small non-farm AADP employment in the United States in October was 233,000, the largest increase since July 2023. (Jinshi)
Data from the prediction market Polymarket shows that the current probability of Trump winning the US presidential election is 63.7%, and the probability of Harris winning the election is 36.3%, a difference of 27.4 percentage points.
In addition, the amount of bets on the US election on the platform exceeded US$2.7 billion (US$2,734,990,070).
Canary Capital submits SOL ETF application to the US SEC
Fox Business reporter Eleanor Terrett wrote on X that cryptocurrency investment institution Canary Capital submitted a SOL ETF application to the US SEC. This is the third cryptocurrency ETF application submitted by the company this month.
Canary has now applied for SOL ETF, LTC ETF, XRP ETF and launched HBAR Trust.
Industry News
Fridays nonfarm payrolls report is the last job market report before the Fed meets next week, but it will be hard to parse. With inflation broadly moving toward the Feds target, officials are now more focused on a cooling labor market. Fed Governor Waller said earlier this month that the jobs report was not easy to interpret, but he expects hurricanes and the Boeing strike to reduce job growth by more than 100,000. The Fed has entered a pre-meeting blackout period and is expected to cut interest rates by 25 basis points at this meeting.
US Q3 GDP growth slowed slightly to 2.8%, and the Feds rate cut pace is not expected to change
The U.S. economy slowed slightly in the second quarter, though consumer spending remained strong. The economic report came six days before a presidential election in which the economy could be the defining issue. The stakes couldnt be higher for both candidates. Economists tend to think Vice President Harris will do a better job controlling the deficit and inflation; voters tend to give Trump better marks on the economy.
At the 2024 Hong Kong SmartCon conference held by ChainLink, Chan Ho-lim, Deputy Secretary for Financial Services and the Treasury of Hong Kong, said that the Hong Kong government had previously completed a public consultation on the stablecoin regulatory framework and received more than 100 opinions from stakeholders and market participants within two months. At present, relevant departments of the Hong Kong government are completing the necessary preparations and plan to submit a draft stablecoin legislation to the Legislative Council before the end of the year.
Florida CFO proposes including Bitcoin in state pension fund portfolio
Florida CFO Jimmy Patronis suggests the agency that manages the states retirement funds consider investing in Bitcoin
U.S. SEC Chairman Gary Gensler recently spoke at a financial technology conference in Las Vegas, reaffirming his commitment to continue working at the SEC during his tenure and defending its law enforcement and regulatory measures. With the November 5 election approaching, he acknowledged the political pressure, especially from the cryptocurrency industry, saying: Democracy has consequences, but we will continue to do what we are good at at the SEC until the referee blows the whistle.
Russia plans to restrict crypto mining in some regions due to energy shortage
Russias Deputy Minister of Energy announced that due to the ongoing energy shortage, Russia will restrict cryptocurrency mining in specific regions, including the Far East, southwestern Siberia and southern regions with limited electricity resources. The power shortage may continue until 2030, making large-scale mining difficult to maintain. (Cryptoslate)
Project News
Sol Strategies, a Canadian listed company, sold $1.71 million worth of Bitcoin and bought 12,389 SOLs, increasing the value of its SOL holdings to $23.51 million. (SolanaFloor)
ZKsync’s first governance proposal ZKsync Ignite will start voting on November 6
ZKsync published a post on X stating that after 12 days of representative feedback and multiple iterations, the ZKsync Ignite plan has been submitted to the chain. After a 7-day delay, TPP 001 voting will begin around 17:00 UTC on November 5 (1:00 Beijing time on November 6).
The proposal proposes to distribute 325 million ZKs within 9 months, of which 300 million will be distributed to users through six minters (with a cap of 50 million each), and the other 25 million ZKs will be managed by four minters to pay for management and unforeseen expenses.
The Mystery Society blockchain game is now available on the Google Play Store
The blockchain game The Mystery Society announced on the X platform that it is now available on the Google Play store. The game is currently in the public beta stage, and it is stated that the IOS version will be launched soon.
Thanks to the recent surge in the share price of Trump Media Technology Group (TMTG), the latest valuation of Truth Social, the social media platform created by former US President and Republican presidential candidate Trump, has surpassed its biggest competitor, X Platform, owned by Elon Musk, the worlds richest man.
Flow Traders Joins Wormhole as Solutions Provider
Wormhole posted on the X platform that liquidity provider and market maker Flow Traders has joined Wormhole as a solution provider and will support fast, cheap and highly liquid multi-chain swaps on the new Composable Intents platform.
Social media site Reddit sold most of its cryptocurrency holdings in the third quarter
According to documents submitted by the social media site Reddit to the U.S. Securities and Exchange Commission (SEC), most of its cryptocurrency portfolio was sold in the third quarter, including Bitcoin and Ethereum that were previously used for financial reserves.
Microsoft shareholders have begun a preliminary vote on whether the company should invest in Bitcoin
According to Bitcoin News on the X platform, Microsoft shareholders have begun preliminary voting on whether the company should invest in Bitcoin.
MicroStrategy plans to raise $42 billion in the next three years to increase its BTC holdings
MicroStrategy announced its third-quarter 2024 financial results. As of the end of the third quarter, the company held 252,220 BTC, with a BTC return of 17.8% year-to-date.
Under the leadership of Executive Chairman Michael Saylor, the company has proposed the “21/21 Plan”, which plans to conduct $21 billion in equity financing and $21 billion in bond issuance over the next three years, using the additional capital to purchase more BTC as a financial reserve asset in order to achieve higher BTC returns.
USDC Treasury issued more than 150 million USDC on the Ethereum chain this morning
According to Whale Alert monitoring, from 2:31 to 4:45 Beijing time, USDC Treasury issued a total of more than 150 million USDC on the Ethereum chain.
Kraken confirms layoffs and appoints board member Arjun Sethi as co-CEO
Kraken, the world’s sixth-largest cryptocurrency exchange, has experienced a round of layoffs, a representative confirmed. The news comes as board member Arjun Sethi has been named co-CEO to accelerate growth alongside current CEO David Ripley.
OpenEden has fired a team member accused of drugging women
In a statement on Thursday that did not name the person involved, OpenEden wrote: Following yesterdays announcement, we have formally terminated an individuals employment with OpenEden. We reiterate that the individual no longer represents OpenEden. OpenEden takes these allegations seriously and does not condone the individuals behavior.
Coinbase plans to donate $25 million to Fairshake PAC in 2026 midterm elections
Coinbase plans to donate $25 million to pro-cryptocurrency super PAC Fairshake in the 2026 midterm elections as part of its ongoing commitment to making cryptocurrency a key part of the political conversation.
Character*Voice
K 33 Research: The market is healthy and gradually accumulating, and BTC is expected to rise further
According to a recent report released by K 33 Research, BTC has not shown any signs of the frenzy seen in March, suggesting that prices still have room to rise further.
Bitwise CIO: Bitcoin could rise to $200,000 depending on dual forces, not dollar collapse
Bitwise Chief Investment Officer Matt Hougan said that BTC could rise to $200,000 without the need for a dollar collapse. In his latest investor memo, he said that BTC’s value depends on two independent forces: its role as a digital store of value and the inflationary pressure of fiat currencies.
At the 2024 Hong Kong SmartCon conference hosted by ChainLink, Chainlink consultant Jennifer Peve said in a roundtable discussion on The Future of Financial Market Infrastructure, Regarding regulation, I think there is still asymmetric regulation, that is, each jurisdiction has its own regulatory system, and there are different goals, different approaches, and their maturity is also very different. Secondly, the regulatory system needs to have priorities, and we cannot let the market rely entirely on regulatory organizations to operate. Therefore, compared with regions with fixed regulatory frameworks, perhaps emerging markets are more important testing grounds. After all, as the saying goes: It is easier to tear down a house than to rebuild it, and it is more difficult to rebuild a house than to renovate a house.
Matrixport: Bitcoin demand surges as Trumps chances of winning and ETF purchases rise
Matrixport released a chart today saying that in November 2016, when Trump was first elected, the price of Bitcoin was about $700 per coin, and it rose sharply in his first year in office. Although a single data point is not enough to form a trend, market optimism remains high, and many believe that if Trump is re-elected, regulation will be relaxed, and Bitcoin may rise further. The current betting market predicts that Trumps chances of winning are as high as 66.5%, which may become one of the largest leads in history.
Chaos Labs: One-third of the US presidential election trading volume on Polymarket is fake
Analysts from blockchain firms Chaos Labs and Inca Digital found rampant wash trading on Polymarket, even as its odds were widely circulated on social and mainstream media. They found that Polymarkets activity showed signs of fake trading, a form of market manipulation in which buying and selling are often done simultaneously and repeatedly to create the illusion of volume and activity.
Investment and Financing
Nillion, a privacy-focused computing network, announced the completion of a new round of financing of US$25 million, led by Hack VC, with participation from Arbitrum, Worldcoin and Sei, as well as a group of venture capitalists and angel investors. As of now, its total financing has exceeded US$50 million.
AI data collection company Sapien completes $10.5 million seed round led by Variant
AI data collection company Sapien has completed a $10.5 million seed round of financing, led by Variant, with participation from Primitive Ventures, Animoca, Yield Game Guild and HF 0. Sapien uses USDC stablecoins or a reward point system to incentivize data providers. It is reported that angel investors such as YGG founder Gabby Dizon and SoftBank Vision Fund alumnus Kevin Jiang also participated in this seed round of financing. (Coindesk)
Monad ecosystem liquidity staking protocol Magma announced the completion of a US$3.9 million seed round of financing, with participation from Bloccelerate, Animoca Ventures, CMS Holdings, Maelstrom, Veil VC, Builder Capital, Infinity Ventures, RockTree Capital, Wise 3 Ventures, Stake Capital, Relayer Capital and others. It is reported that Magma is building MEV-based liquid staking on Monad.
Solana Scaling Infrastructure Developer Nitro Labs Completes $4 Million Seed Round Led by Lemniscap
Nitro Labs, the team behind Solanas scaling infrastructure platform Termina, announced the completion of a $4 million seed round of financing led by Lemniscap, with participation from Animoca Ventures, Borderless Capital, Finality Capital, Race Capital, No Limit Holdings, Solana Foundation, Jump Crypto and Spartan as well as several angel investors.
Security incidents
Renzo official X account is suspected to be stolen, please beware of the risk
The official X account of Renzo, a liquidity re-staking protocol, is suspected to have been stolen, and a suspicious token contract was released. Users are advised to be careful of the related risks.
According to Scam Sniffer, Lottie Player suffered a supply chain attack earlier today, which may have affected projects such as 1inch and Movement.
SlowMist Yuxian posted a message on X saying: A supply chain poisoning attack has occurred again, which was done by the Ace Drainer-related phishing gang, poisoning the front-end script module that the well-known Web3 project relies on. Fortunately, it was discovered in time and the impact should not be large.
If your project uses the Lottie Player module, please check whether there is any malicious code introduced (currently known versions 2.0.4 and the latest 2.0.8 do not contain malicious code).”
