Bitcoin: Exchange supply continues to decline
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According to CryptoQuant data, the supply of Bitcoin on exchanges continues to decrease, and the specific subsequent impact remains to be observed. （Cointelegraph）
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According to CryptoQuant data, the supply of Bitcoin on exchanges continues to decrease, and the specific subsequent impact remains to be observed. （Cointelegraph）
[Re7 Labs Releases xUSD Depeg Impact Report, Funds Affected by Stable Labs Exceed $13 Million] Re7 Labs has released the xUSD depeg impact report, indicating that the total funds affected by Stable Labs amount to approximately $13,114,000, with no response received as of now. The report shows that some Stream-xUSD borrowing positions have been repaid, and Re7 Labs has transferred funds from the xUSD market within the Earn vault, adjusted the xUSD market cap to 0, and removed its supply queue. Regarding Elixir-deUSD and sdeUSD, Re7 Labs has reduced risk exposure to Stream and Elixir and completed the repayment of borrowing positions using sdeUSD as collateral. After communicating with Stable Labs CEO Flex, it was discovered that there might be issues, and Re7 Labs has requested liquidity deposits to allow users to close positions. Additionally, they stated that they are seeking legal advice to formulate countermeasures.
[U.S. Senate Continues Government 'Shutdown' Negotiations] On November 8 local time, the U.S. Senate did not adjourn as scheduled and continued negotiations to end the government 'shutdown.' Most bipartisan lawmakers remained in Washington. If an agreement is reached, senators will be notified 24 hours in advance to review the bill text before voting and are advised to keep their schedules flexible to return for voting at any time. Senate Republican Leader John Thune stated that efforts are being made to reach an agreement with Democratic senators to pass a 'comprehensive appropriations bill' that includes three full-year appropriations bills. The draft is nearing completion, and both sides have engaged in active dialogue over the past 24 hours. He expressed optimism about the progress of the negotiations.
[Meta Announces $600 Billion U.S. Investment Plan Details] Meta Platforms recently announced a $600 billion U.S. investment plan, with funds allocated to support artificial intelligence technology, infrastructure development, and workforce expansion. The investment timeframe extends to 2028. Zuckerberg initially discussed this investment commitment at a White House dinner in September and exchanged related ideas with U.S. President Trump.
[NEAR Intents Single-Day Trading Volume Exceeds $200 Million This Week] According to Token Terminal data, NEAR Intents' single-day trading volume this week reached a peak of over $200 million, with single-day fees hitting nearly $400,000, possibly due to support for the Zcash wallet Zashi and Zcash cross-chain transactions.
[Hong Kong High Court to Hear First Batch of 8 Defendants in JPEX Case on December 15] The Hong Kong police have prosecuted 16 individuals in connection with the alleged fraud case involving the virtual currency trading platform JPEX. The case of the first batch of 8 defendants will be transferred to the Hong Kong High Court for trial, scheduled for December 15 (UTC+8). Some defendants have been granted bail. Hong Kong Secretary for Financial Services and the Treasury, Christopher Hui, stated that following the JPEX case, considerations will be made to optimize relevant regulations in four areas: trading, stablecoins, custody, and digital asset exchanges. The case involves core members such as Lin Zuo and other key opinion leaders (KOLs), with the main suspects still at large.