More than $275 million in liquidation in 24 hours, 21Shares applies to launch XRP ETF

Headlines

▌Over 275 million USD liquidated in the past 24 hours, mainly in long orders

According to Coinglass data, the total liquidation amount of the entire network reached 275 million USD in the past 24 hours, of which the liquidation amount of long orders was about 187 million USD and the liquidation amount of short orders was about 88.773 million USD.

▌21Shares submits S-1 form to the US SEC to apply for the launch of XRP ETF

According to the official website of the US SEC, 21Shares has submitted S-1 form to the US SEC to apply for the launch of XRP ETF (21Shares Core XRP Trust). The ETF will track the price of XRP and plans to be listed on the Cboe BZX exchange. The ETF does not involve leverage or derivatives and is designed to reflect the dollar performance of XRP through the CME CF Ripple-Dollar Reference Rate (New York version). Coinbase Custody will serve as the XRP custodian of the ETF and is responsible for custody of all assets.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $69,534.31, with a daily increase or decrease of -0.0%;

ETH's latest transaction price is $2,512.72, with a daily increase or decrease of +0.3%;

BNB's latest transaction price is $573.42, with a daily increase or decrease of +0.1%；

SOL's latest transaction price is 167.09 US dollars, and its intraday increase or decrease is +0.2%；

DOGE's latest transaction price is 0.161 yuan, and its intraday increase or decrease is -0.1%；

XPR's latest transaction price is 0.5146 US dollars, and its intraday increase or decrease is +1.4%.

Policy

▌DWF Labs considers legal action against former partner Eugene Ng

DWF Labs managing partner Andrei Grachev said DWF Labs will consider legal action against fired founding partner Eugene Ng. Eugene Ng was previously accused of drugging and sexually harassing a woman.

▌Tornado Cash co-founder Roman Storm criminal trial postponed to April 2025

A New York judge ruled that the criminal trial of Tornado Cash co-founder Roman Storm will be postponed to April 2025 to resolve disagreements disclosed by expert witnesses. The original trial date was December this year. Storm's legal team has applied to the U.S. Court of Appeals for the Second Circuit for an injunction to overturn the order on the expert witness, and a hearing is scheduled for November 12. Storm is charged with three counts of aiding money laundering, unlicensed money transmission and violating sanctions. If convicted, he faces up to 45 years in prison.

▌The U.S. government is negotiating with PACs to recover $13.25 million in political donations from former FTX executives

The U.S. government is negotiating with several political action committees (PACs) to return up to $13.25 million in political donations donated by former FTX executives. The request has been approved by Lewis Kaplan, the judge in charge of the FTX case, and the government will continue to discuss the confiscation of the funds with PACs before January 15. Data shows that the donations were provided by FTX founder Sam Bankman-Fried or former engineering director Nishad Singh. Singh testified that some of the donations were made at the request of Bankman-Fried and that he had signed blank checks.

▌Paxos CEO: Create crypto-friendly policies to keep the U.S. ahead

Charles Cascarilla, CEO of blockchain infrastructure company Paxos, sent an open letter to Vice President Kamala Harris and former President Donald Trump on Tuesday, urging immediate regulatory reforms to support blockchain and digital assets in the United States. Cascarilla warned that the U.S. financial system is "closed, outdated and inefficient" and is at risk of falling behind global competitors. Coinbase Chief Legal Officer: More than 20 FDICs require banks to "suspend" or "stop providing" or "not continue" to provide crypto banking services Coinbase Chief Legal Officer said on the X platform that so far, we have found more than 20 examples of FDIC (Federal Deposit Insurance Corporation) requiring banks to "suspend" or "stop providing" or "not continue" to provide crypto banking services. The public deserves transparency, not an agency working behind the scenes of bureaucracy.

Blockchain Applications

▌DePIN XYO Expands to Solana Blockchain

Decentralized Physical Infrastructure Network (DePIN) XYO announced that it has bridged from Ethereum to Solana, citing the Solana network's "high throughput, low transaction costs, and scalability." XYO is a DePIN designed to verify location and other real-world data for Web2 and Web3 projects.

▌Web3 Game Development Company Midnight to Launch First MMO Game on Aptos

Web3 game development company Midnight will launch the world's first MMO game "The Evergreen: Midnight Market" on Aptos. The game is currently in closed beta and will be open to players worldwide on November 13.

Cryptocurrency

▌Kalshi launches more political event prediction markets before the US election

According to regulatory documents submitted to the US Commodity Futures Trading Commission (CFTC), Kalshi launched more political event prediction markets before the US election, including the results of the Ohio referendum, the Associated Press (AP) announced the results of the last state in the presidential race, and so on. According to CFTC data, Kalshi has registered more than two dozen contracts since October 31, most of which are related to the upcoming US election. According to the Kalshi website, as of November 1, Kalshi's "Who will win the presidential election?" has a total betting volume of approximately US$144 million since it was listed on October 7. Data from the platform shows that as of November 1, Trump has a 56% chance of winning the presidential election, while Harris has a 44% chance.

▌Viewpoint: Bitcoin is not just "digital gold" now, but a part of the global financial infrastructure

With the 16th anniversary of the release of the Bitcoin white paper, Trust Machines' Rena Shah pointed out that Bitcoin is not just "digital gold" now, but a core component of the global financial infrastructure. In 2024, the Bitcoin ecosystem will usher in a key turning point, including Layer 2 expansion, the popularity of Ordinals, and the accelerated entry of institutions. The Bitcoin ETF promoted by financial giants such as BlackRock has attracted more than $1.5 billion in capital inflows, marking that Bitcoin has been widely recognized by the traditional financial system.

▌Web3 companies raised $5.4 billion in financing in the first three quarters of 2024

According to Crunchbase's Web3 tracking data, Web3 startups raised more than $5.4 billion in venture capital in the first three quarters of 2024. Investors are increasingly targeting emerging markets at the intersection of blockchain and artificial intelligence, and projects focused on decentralized blockchain infrastructure have also attracted a large influx of funds. In the last quarter alone, the capital pouring into blockchain companies reached $1.4 billion. In addition, October's financing highlights include Glow raising $30 million to develop a decentralized solar power grid and Nillion Network raising $25 million to advance its decentralized privacy platform.

▌pump.fun transferred 90,000 SOL to Kraken 4 hours ago

Arkham data shows that pump.fun transferred 90,000 SOL to Kraken 4 hours ago, worth about $14.97 million.

Important Economic Dynamics

▌The scale of the Fed's reverse repurchase fell to around $155 billion for the first time since 2021

On Friday, the scale of the Fed's overnight reverse repurchase agreement (RRP) was $155.476 billion, a new low since 2021, and $201.278 billion in the previous trading day. Only 41 counterparties participated, which is significantly less than the usual level in the past.

▌The three major U.S. stock indexes closed higher, with the Nasdaq up 0.80%

The three major U.S. stock indexes closed higher, with the Dow up 0.69%, the Nasdaq up 0.80%, and the S&P 500 up 0.41%. Intel rose nearly 8% as the company's performance exceeded expectations and its revenue guidance was higher than analysts expected.

▌The US October non-farm payrolls data was a surprise, and traders increased their bets on a 25 basis point rate cut by the Federal Reserve

The US October non-farm payrolls data was a surprise (12,000 people), and traders increased their bets on a 25 basis point rate cut by the Federal Reserve next week. (Jinshi)

Golden Encyclopedia

▌Aptos What is blockchain?

Aptos aims to be a fast, scalable, and reliable blockchain that supports decentralized applications (DApps) and is designed to accelerate the development of Web3. Avery Ching and Mo Shaikh launched the Aptos blockchain on October 12, 2022. It is designed to achieve high throughput and low latency, which means it can process approximately 160,000 transactions per second and verify them in less than 1 second on average. Aptos technology natively integrates the Move language to provide these fast and secure transactions, allowing developers to write smart contracts and build DApps. Aptos provides everything you need to "build your big idea" and even combines artificial intelligence to make Web3 easy for novices and experts.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment concept and be sure to increase risk awareness.