Crypto Morning News: Both crypto and stocks hit new highs as Trump to seek pro-crypto candidates for financial institutions
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Crypto Morning News: Both crypto and stocks hit new highs as Trump to seek pro-crypto candidates for financial institutions
MicroStrategy announced yesterday that it raised $2.03 billion and purchased 27,200 BTC.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Trump seeking pro-crypto candidates for financial regulatory roles
According to The Washington Post, U.S. President-elect Donald Trump is preparing to adopt a more lenient stance toward cryptocurrencies, actively identifying candidates supportive of the crypto industry for key government positions. His senior advisers are consulting with crypto executives on potential changes to federal policy.
Initial discussions have focused on a range of financial regulatory agencies, including the U.S. Securities and Exchange Commission (SEC). Five informed sources revealed that Trump’s advisers are considering current regulators, former federal officials, and finance industry executives for major leadership roles—many of whom have publicly expressed support for cryptocurrencies. They cautioned that the process remains in early stages and candidate lists are still evolving.
F2Pool Co-founder Wang Chun: Mined 16.2 Billion DOGE; Will Buy Mars Mission if DOGE Hits $1
Wang Chun (@satofishi), co-founder of F2Pool and founder of stakefish, announced on X that he will purchase a Mars exploration mission named "Marsrise" if DOGE reaches $1. The mission is planned for launch on January 19, 2029—the final day of Trump’s potential second term.
Wang Chun stated: “Dogecoin was born to fly. Did you know? Since its launch in 2013, we’ve mined 16.2 billion $DOGE, accounting for 11% of all Dogecoins in existence.”
Coinbase Shares Close at $324.24, Highest Since November 2021
Coinbase (COIN) closed at $324.24, up 19.7% on the day—the highest closing price since November 19, 2021. Over the past five trading sessions, COIN shares have surged 75%. Bloomberg ETF analyst Eric Balchunas noted that Coinbase and MicroStrategy entered the top five most traded stocks by volume for the first time together, trailing only Tesla and Nvidia.
Brevis Network Raises $7.5 Million in Seed Round Led by Polychain Capital and Binance Labs
Brevis Network, a zero-knowledge (ZK) coprocessor startup, has completed a $7.5 million seed round token financing led jointly by Polychain Capital and Binance Labs.
Michael Dong, co-founder of Brevis, said fundraising began in June and concluded in September. Brevis’ ZK coprocessor aims to enhance blockchain scalability via ZK proofs and is currently in beta mainnet phase, with partners including Kwenta, JoJo Exchange, and Trusta already using the platform.
MicroStrategy Adds 27,200 BTC in $2.03 Billion Purchase
MicroStrategy announced it raised $2.03 billion to acquire 27,200 BTC. The company now holds 279,420 BTC, achieving a year-to-date Bitcoin return of 26.4%.
Binance Lists ACT and PNUT
Binance listed Act I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT) at 18:00 UTC+8 on November 11, 2024, applying its Seed Tag designation.
He Yi: Listing Fees for ACT and PNUT Are Both Zero
Binance co-founder He Yi posted on social media: “The listing fees for ACT and PNUT on Binance are both zero.”
ENS Announces Own Layer 2 Network Namechain, Expected Launch by End of 2025
ENS Labs, the company behind Ethereum Name Service (ENS), announced plans to launch its own Layer 2 blockchain network called Namechain, expected around the end of 2025.
Katherine Wu, COO of ENS Labs, revealed that Namechain will use zero-knowledge rollup technology—a scaling solution that accelerates transactions and reduces execution costs by compressing data published on-chain. Wu explained that this allows Namechain to process and execute transactions off the Ethereum mainnet while maintaining full Ethereum security, at only a fraction of the cost.
StakeStone Raises $22 Million in Funding Led by Polychain Capital
According to Bitcoin.com, ETH staking liquidity derivative platform StakeStone announced a $22 million funding round led by Polychain Capital, with strategic investments from Binance Labs and OKX Ventures, and participation from SevenX Ventures, Nomad Capital, HashKey Capital, among others.
Elon Musk’s Net Worth Jumps to $320 Billion, Up $16.2 Billion in a Day
Tesla (TSLA.O) rose nearly 9% on Monday, pushing the world’s richest man Elon Musk’s wealth even higher. Forbes data shows Musk’s net worth increased by $16.2 billion in one day, reaching $320.2 billion.
Market Data
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