PA Daily | Bitcoin is approaching a new high of $80,000; Tether has issued 4 billion USDT on Ethereum in the past three days, most of which flowed into exchanges

Today's news tips:

1. MicroStrategy's Bitcoin holdings have made a profit of over $10 billion

2. Tether issued 4 billion USDT on Ethereum in the past 3 days, most of which flowed into exchanges

3. Trump offers to pay Harris' $20 million campaign debt

4. Ethereum's market value surpasses Johnson & Johnson and ranks 33rd in global assets

5. Cardano founder: will work with lawmakers and the government to push for the passage of a bipartisan bill

6. CoinGecko: CryptoPunks and BAYC are the only two NFT series that have continued to rank in the top 10 by monthly average market value since 2022

7. This week, NFT transaction volume increased by 14.99% month-on-month to US$95.72 million, but the number of buyers decreased by more than 90% month-on-month

8. NEAR AI launches Alpha version, including AI assistant and research center

Regulatory News

A pyramid scheme organization that used "blockchain" and "virtual currency" as gimmicks was prosecuted and sentenced, with the amount involved reaching more than 210 million yuan

According to the official account of the Yunnan Provincial People's Procuratorate, the Shidian County Procuratorate recently filed a public prosecution against Li Moumou and 10 others for organizing and leading pyramid schemes. After trial by the court, Li Moumou and 10 other defendants were sentenced to fixed-term imprisonment ranging from six years to two years for the crime of organizing and leading pyramid schemes, and were fined between RMB 500,000 and RMB 100,000.

Since May 2021, Li has successively gathered Huang, Jin and others to use "blockchain" and "virtual currency" as gimmicks to make illegal profits. They set up 5 fund pools on the network platform on the grounds of purchasing and holding virtual digital currency A and issuing virtual digital currency B and C. Through on-site meetings, WeChat groups and other offline and online methods, they created successful people's personalities, used special professional backgrounds, and used slogans such as "one coin for one luxury house, one coin for one luxury car" and "easily earn hundreds of thousands or millions a day" to promote the reward system and profit prospects, and deceived the general public to obtain membership qualifications by purchasing, destroying, adding fund pools, etc., and completed the tasks issued, and obtained static dividends and dynamic benefits based directly or indirectly on the number of people developed and the amount of investment, forming 5 rebate levels. It has been identified that the pyramid scheme funds collected by Li and others using the network platform totaled more than RMB 210 million.

The Shidian County Procuratorate reviewed and believed that Li used virtual currency as a gimmick and colluded with the other nine defendants to use the Internet platform to defraud property and disrupt the economic and social order. The pyramid scheme funds totaled more than 210 million yuan, and the circumstances were serious. The actions of Li and the other ten people violated Article 224 of the Criminal Law of the People's Republic of China and constituted the crime of organizing and leading pyramid schemes. After the court heard the case, the above judgment was made.

Trump offers to pay Harris' $20 million campaign debt

President-elect Donald Trump has offered to pay Kamala Harris’ $20 million campaign debt, according to Watcher.Guru.

FTX Bankruptcy Group Sues Anthony Scaramucci and SkyBridge Capital to Recover Over $100 Million

According to Cointelegraph, the FTX bankruptcy group is seeking to recover more than $100 million from SkyBridge Capital and founder Anthony Scaramucci to recoup the funds spent by former FTX CEO Sam Bankman-Fried (SBF) in sponsorship and investment agreements with Scaramucci and SkyBridge since 2022.

According to legal documents from Nov. 8, prior to FTX’s collapse, Bankman-Fried made a series of investments and partnerships with SkyBridge Capital and Scaramucci — starting with a $12 million sponsorship of Scaramucci’s SALT conference in January 2022. Shortly thereafter, in March 2022, SBF directed Alameda Research to invest $10 million in the SkyBridge Coin Fund. Later, in September 2022, FTX acquired a 30% stake in the operating company that manages SkyBridge’s investment vehicle for $45 million. FTX’s lawyers argued that the investment lacked financial sense — arguing that “FTX Group could have easily purchased at a lower cost” the basket of cryptocurrencies into which the vast majority of the $45 million investment was invested.

FTX files lawsuit to recover $27 million from Alameda’s Huobi and Poloniex accounts

FTX creditor Sunil said on the X platform that FTX filed a lawsuit to recover $27 million in Huobi and Poloniex accounts held by Alameda.

Project News

BTC breaks through $79,000, up 3.98% on the day

According to the OKX market data, BTC has just broken through $79,000 and is currently trading at $79,356.10 per coin, with a daily increase of 3.98%.

CoinGecko: CryptoPunks and BAYC are the only two NFT series that have consistently ranked in the top 10 by average monthly market value since 2022

According to data disclosed in the NFT report released by CoinGecko, CryptoPunks currently dominates the NFT market, with a 30.9% share of the top series, and its top position has been consolidated since surpassing Bored Ape Yacht Club (BAYC) in May 2023. Previously, at the beginning of 2022, CryptoPunks' dominance was 24.8%, lagging behind the then leader BAYC's 29.3%. Although CryptoPunks briefly surpassed BAYC in November 2022 and then slipped to second place, due to its more elastic reserve price, this pixel art NFT successfully maintained a narrow market share gap and regained the top spot in May 2023.

Notably, CryptoPunks is the only NFT collection to see its dominance increase by 10.0 percentage points in one year, growing its market share from 23.6% to 33.6% in 2023. While CryptoPunks’ dominance has declined slightly since the beginning of the year, it remains the largest NFT collection to date, with a market share of over 29.5%, more than double the dominance of any other collection.

In addition, CryptoPunks and BAYC are the only two NFT series that have consistently ranked in the top 10 by monthly average market value since 2022. During these three years, five other series have also frequently entered the top 10 but failed to maintain continuity: Mutant Ape Yacht Club (MAYC), Azuki, Autoglyphs, Snowfro's Chromie Squiggle, and Tyler Hobbs' Fidenza.

Cardano founder: Will work with lawmakers and the government to push for a bipartisan bill to pass

According to CoinGape, Cardano founder Charles Hoskinson said in a recent speech that he would work with lawmakers and the government to promote the passage of a bipartisan bill. His company Input Output Global (IOG) will set up a separate policy department for cryptocurrency regulation. The office will focus on developing a legislative framework that incorporates the provisions of the 21st Century Financial Innovation and Technology Act (FIT21) and the Responsible Financial Innovation Act (RFIA).

NEAR AI launches Alpha version, including AI assistant and research center

NEAR AI said on the X platform that the Alpha version has been launched, which includes the NEAR AI Assistant (Alpha), which has a user-specific memory and can act on behalf of users on Web2 and Web3 by connecting to other AI agents and services. The assistant knows how to render responses and generates a custom front end when needed. In addition, it also includes the NEAR AI Research Center, which supports community-built AI research and the creation of foundational models.

Solana Co-founder: Solana’s advantage lies in execution, and its potential lies in improving its infrastructure

In a recent interview, Solana founder Anatoly Yakovenko spoke about the ecosystem’s unique position in the blockchain space. “Scalability, infrastructure focus, and transaction efficiency are Solana’s three main strengths in my opinion.” Of course, he is also aware of the challenges Solana faces in a world where blockchain technology continues to evolve and platforms further develop.

Anatoly Yakovenko compared Solana to Ethereum and various L2 solutions, highlighting the trade-offs between L1 and L2. L2 solutions typically use centralized sorters for low-latency transaction ordering. However, Yakovenko noted that these can cause the same congestion issues as L1 chains. While L2s are often seen as a short-term solution to congestion issues, they face scaling bottlenecks when multiple applications or markets use them.

Yakovenko stressed that Solana's advantage lies in execution. While Ethereum is scaling through L2, Solana's development remains focused on making its L1 perfect. He acknowledged that one day, blockchains will offer similar functionality to Solana and provide faster iterations, but for now, the pace of Solana's improvements puts it far ahead of its competitors. For Anatoly Yakovenko, the core of Solana's potential lies in perfecting its infrastructure to support fairer and more open transaction processing and achieve a truly decentralized future. This, he said, will make Solana one of the leading blockchains in the coming years.

Financing News

Former ParaFi Capital partner launches private equity fund Inversion Capital

According to The Block, Santiago Roel Santos, a former partner at blockchain venture capital firm ParaFi Capital, announced the launch of Inversion Capital, a private equity fund aimed at acquiring traditional companies and transforming their operations by adopting encryption technology. Santos believes that some companies can solve coordination problems by adopting encryption tools, which "manifest as higher operating costs, capital expenditures, or declining unit economics." It doesn't matter whether business owners are reluctant to accept cryptocurrencies, because Inversion Capital will not be an investment partner-it will directly acquire these companies.

Important data

This week, NFT transaction volume increased by 14.99% month-on-month to US$95.72 million, but the number of buyers decreased by more than 90% month-on-month

According to News.bitcoin, NFT sales this week reached $95.72 million, up 14.99% from the previous week, after weeks of declining trading volumes. However, the number of buyers this week dropped sharply by 90.21%, while the number of NFT sellers dropped by 88.80%. Ethereum was the blockchain with the highest sales in the seven days of this week, reaching $31.14 million, up 13.25%. Following closely behind, Bitcoin-centric NFT sales ranked second with $26.01 million, and Solana ranked third with sales of $12.97 million from November 2 to November 9.

The Pendle team address transferred 1.4 million PENDLE to Binance, worth about US$7.74 million

According to on-chain analyst Yu Jin, another Pendle team address transferred 1.4 million PENDLE (US$7.74 million) to Binance in the past half hour. Together with the 625,000 transferred from another team address the day before yesterday afternoon, 2.025 million PENDLE (US$11.11 million) of the team have flowed into Binance in the past day or so.

Tether issued 4 billion USDT on Ethereum in the past three days, most of which flowed into exchanges

According to Spot On Chain, Tether has issued 4 billion USDT on Ethereum in the past three days. It is worth noting that about 3.44 billion USDT have been transferred to various exchanges, including 1.75 billion USDT to Binance and 770.8 million USDT to Coinbase.

A whale who once invested $5.2 million in MOODENG and suffered losses now makes more than $3 million

According to Onchain Lens monitoring, a whale once invested $5.2 million and suffered huge losses when MOODENG's market value fell below $100 million. As MOODENG hit a new high, the whale still held MOODENG and made a profit of more than $3 million.

Ethereum's market value surpasses Johnson & Johnson and ranks 33rd in the global asset ranking

According to Infinite Market Cap data, Ethereum surpassed Johnson & Johnson in the global asset market value ranking and ranked 33rd.

MicroStrategy's Bitcoin holdings have generated over $10 billion in profits

At the current price of Bitcoin at $79,000, MicroStrategy's Bitcoin holdings have a floating profit of over $10 billion. According to previous news, as of today, MicroStrategy holds a total of 252,220 Bitcoins, with a total purchase cost of approximately $9.9 billion and an average price of approximately $39,266.