According to Odaily, a judge in Delaware has once again rejected Tesla CEO Elon Musk's substantial compensation package, despite shareholders voting in favor of reinstating it during the company's annual meeting on June 13. The judge upheld the initial January ruling, declaring the compensation plan illegal due to insufficient disclosure of its details to shareholders and a lack of independence among Tesla's board members. Tesla and Musk's legal representatives argued that the second shareholder vote in June, which supported the compensation package, should have validated its reinstatement. Initially valued at $2.6 billion, the stock option plan surged to $56 billion when the judge nullified it. As of Monday's closing price, the plan's value had escalated to $101.5 billion.

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Although Tesla (TSLA.O) shareholders voted to restore CEO Elon Musk's record company pay package at the company's annual meeting on June 13, a Delaware judge once again rejected the pay package, deciding to uphold the initial ruling in January that the pay package was illegal on the grounds that shareholders were not fully informed of its details and that Tesla's board members were not independent enough. However, Tesla and Musk's lawyers argued that the result of a second shareholder vote in June that supported the pay package paved the way for its effective restoration. The stock option plan was originally worth $2.6 billion and soared to $56 billion when the judge canceled it. Based on Monday's closing price, the plan is worth $101.5 billion. (Jinshi)

Elon Musk's Space Exploration Technologies Corp. (SpaceX) is discussing the sale of insider shares, which could raise the rocket and satellite company's valuation to around $350 billion, according to people familiar with the matter. This would be a huge premium compared to the $255 billion valuation reported by the media last month. It would also consolidate SpaceX's position as the most valuable private U.S. company. People familiar with the matter said that the conversations with SpaceX are still ongoing and the details of the potential transaction may change depending on the interest of internal sellers and buyers. (Jinshi)

Energy finance company PowerDime has revealed that it is developing a tokenized renewable energy trading platform based on the L1 blockchain network Chintai. The platform is aimed at institutional investors seeking yield and renewable energy projects seeking financing options. The platform will use tokenized virtual power purchase agreements (financial contracts for electricity fixed prices) and provide investors with regular cash flows. Chintai Managing Director Josh Gordon said: "By leveraging the power of blockchain, we are transforming renewable energy into more than just a promise, it is now an investment opportunity. By tokenizing traditional illiquid contracts, we provide institutional investors with the tools to drive a sustainable future while earning real financial returns." Gordon also said that the platform currently covers wind and solar energy, and plans to expand its renewable energy services in the future. The platform is already in use in parts of the United States, the United Kingdom and the Asia-Pacific region, and plans to expand to other jurisdictions over time. (Cointelegraph)

The European Central Bank (ECB) has published its second progress report in the preparatory phase for the launch of a digital euro. Among other issues, holding limits and legal coordination of central bank digital currencies (CBDCs) are discussed in the report. After reviewing the digital euro rulebook under development, the Rulebook Development Group has launched seven workstreams led by market participants and central banks to continue its development. The rulebook seeks to harmonize national laws to guarantee common standards. A report on its progress was published in September, and another report is due in July 2025. The ECB said it is continuing to study digital euro user profiles to determine the needs of potential users. This input will include user preferences for holding limits, which will be taken into account in technical studies with national central banks. Politico reported in October that holding limits have become a point of contention between the ECB and national central banks. To maintain a maximum holding limit, one solution currently under consideration is a “reverse waterfall”, which automatically transfers excess digital euros to fiat currency in linked bank accounts. Solutions for offline transactions are still under study, the report said, without giving too many details. A major theme of the report is the competition between European and non-European service providers in the financial market, and the need for more technological services such as wallets. The report emphasizes: "Payment service providers (PSPs) will be able to use the digital euro infrastructure to create new payment services. The digital euro will also help European regions and domestic programs to expand their payment service range using digital euro acceptance networks." The report also points out that "it is possible to make some improvements to the user experience of the digital euro so that citizens with stronger privacy preferences can enjoy cash-like privacy." (Cointelegraph)

ビットコイン開発会社マイクロストラテジーは、ビットコインを追加購入し、ビットコイン上限枚数のほぼ2%を所有するに至った。 同社は12月2日、1日までの1週間で、 ... The post マイクロストラテジー、1万5400BTCを買い増し──セイラー氏はマイクロソフトにBTC購入を勧める first appeared on CoinDesk JAPAN（コインデスク・ジャパン）. source: https://www.coindeskjapan.com/264831/

According to Odaily, the cryptocurrency market is experiencing diverse capital flows from both institutional and non-institutional participants. Chris Newhouse, Head of Research at Cumberland Labs, highlighted the strong institutional buying pressure, particularly from entities like MicroStrategy, which continues its accumulation strategy. Despite this, the broader crypto ecosystem is witnessing varied capital movements. Fadi Aboualfa, Head of Research at Copper Technologies Ltd., noted a shift after six consecutive weeks of positive capital inflows, with a week of sell-offs observed. Derivatives traders are now using ETF demand as a gauge for macroeconomic direction. Early Bitcoin ETF investors are keen on rebalancing their portfolios, having seen their investments more than double. This rebalancing is partly due to the psychological barriers the market faces, with at least half of their investments considered risk-free. Vetle Lunde, Head of Research at digital asset research firm K33, cited data from The Bitcoin Lab, indicating that on-chain data shows mid-term groups, those who bought BTC in the $55,000 to $70,000 range, are actively taking profits. Profit-taking is particularly intense when BTC trades above $90,000. Lunde explained that this metric estimates Bitcoin's on-chain movements, categorized by the last price. The significant concentration within a price group suggests heightened activity at current prices. Jake Ostrovskis, an OTC trader at Wintermute, observed market stagnation over the past ten days, with Bitcoin prices slightly below $100,000. Volatility has compressed to the 64th percentile, while Ethereum prices remain at the 81st percentile, showing a more significant increase.

“While we’ve seen strong institutional buying pressure, particularly from entities like MicroStrategy’s ongoing accumulation strategy, the broader crypto ecosystem is experiencing a diversification of capital flows from both institutional and non-institutional players,” said Chris Newhouse, head of research at Cumberland Labs. “After six weeks of positive inflows, we’ve seen a week of selling, and derivatives traders are looking at ETF demand as a measure of macro direction,” Fadi Aboualfa, head of research at Copper Technologies Ltd., said on Monday. “Early Bitcoin ETF investors may be keen to rebalance their portfolios as their funds have more than doubled. After all, at least half of their investments are risk-free money when the market hits a psychological barrier.” Veter Lunde, head of research at digital asset research firm K33, cited data from The Bitcoin Lab: “On-chain data shows that the medium-term group (traders who bought BTC in the $55,000-70,000 range) is actively taking profits, and profit-taking is particularly intense when BTC trades above $90,000.” Lunde The indicator is an estimate that tracks Bitcoin on-chain movements, categorized by last price, according to the report. However, it is rare to see such a significant concentration in a price group, so this suggests that the group is particularly active at current prices. Wintermute OTC trader Jake Ostrovskis said: "The market has stagnated over the past 10 days, with Bitcoin prices just below 100,000. Volatility has compressed slightly to the 64th percentile, while Ethereum prices have remained at the 81st percentile, with a significantly higher increase." (Bloomberg)

The world’s largest hedge funds took full advantage of trading opportunities sparked by Trump’s election last month, putting the industry on track for its strongest returns in at least four years. Balyasny Asset Management’s hedge fund gained 3.9% for the month, helping turn its lackluster year through October into an 11.6% gain, according to people familiar with the matter. Schonfeld Strategic Advisors’ Fundamental Equity pool and Citadel’s Tactical Trading fund also rose last month, pushing their 2024 gains to 18.6% and 20%, respectively, making them the two best performing multi-strategy hedge funds so far this year, according to people familiar with the matter. Separately, a PivotalPath benchmark that tracks 70 multi-strategy hedge funds is already on track for its best performance of 2020. (Bloomberg)

On Dec 03, 2024, 00:37 AM(UTC). According to Binance Market Data, BNB has crossed the 650 USDT benchmark and is now trading at 650.159973 USDT, with a narrowed narrowed 1.28% decrease in 24 hours.

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