[USDC Treasury Burns Over 100 Million USDC on Solana Chain] USDC Treasury burned 104,314,973 USDC on the Solana chain at 8:47 AM (UTC+8) today.

**[DeFi Ecosystem Faces Liquidity Crisis, Potentially Hiding $8 Billion Risk]** On November 7, concerns about a liquidity crisis triggered by cascading liquidations spread across the crypto community. On November 3, Stream Finance announced the suspension of deposits and withdrawals after one of its external fund managers suffered a liquidation during market volatility on October 11, resulting in a loss of approximately $93 million in fund assets. Currently, the DeFi ecosystem may be facing a systemic crisis involving $8 billion in total value locked (TVL), with reported losses of around $100 million. The DeFi liquidity protocol Elixir has been affected, showing a $68 million risk exposure. Morpho's co-founder responded that insufficient liquidity in certain pools is not due to systemic vulnerabilities. Stablecoin yield protocols saw $1 billion in outflows within a single week, while the market capitalization of Ethena Labs' USDe dropped by approximately 45% over the past month, falling below $9 billion. Compound has suspended multiple stablecoin lending markets on Ethereum, and Stables Labs' USDX stablecoin significantly depegged to $0.314. Asset leverage nesting and lack of transparency in management could potentially trigger a larger crisis.

The wallet associated with SharpLink Gaming redeemed 5284 ETH (worth $17.52 million) 4 hours ago, and subsequently deposited 4364 ETH (worth $14.47 million) into the OKX exchange. （Lookonchain）

[Trump Crypto Advisor Warns DeFi Credit Crisis May Spread to CeFi] Trump cryptocurrency advisor David Bailey stated that the credit crisis in the decentralized finance (DeFi) lending sector is evolving into a cryptocurrency liquidity crisis. If the required collateral for margin calls cannot be provided or hedging operations fail, the risk of spreading from DeFi to centralized finance (CeFi) is very high. David Bailey urged caution, advised avoiding counterparty risk, and pointed out that a second wave of the crisis might occur on October 10.

BBX News: Yesterday, the encryption configuration of global listed companies continued to be active: - Large increase in ETH holdings: BitMine (NYSE: BMNR) spent $69.89 million to purchase 20205 ETH, funded by mining profits and strategic reserves BTC fixed investment continues: Japanese Mac House (TSE: 7603) increased its holdings by 6.37 BTC to 124.8 BTC; UK B HODL (Aquis: HODL) purchases 5 BTC Strategic Internationalization: Hong Kong Moon Inc. (HKEX: 1723) Enters the US OTCQX Market, Advancing the Global Layout of Bitcoin Consumer Products The institution disclosed a single day investment of over 70 million US dollars, highlighting the transformation and global expansion of mining enterprises. Source: bbx.com