Crypto Morning News: Mixed-case ELIZA resurfaces amid conspiracy group and community dispute; Litecoin denies Lester as official mascot
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Crypto Morning News: Mixed-case ELIZA resurfaces amid conspiracy group and community dispute; Litecoin denies Lester as official mascot
Michael Saylor plans to present the Bitcoin reserve strategy to Microsoft's board of directors in December.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Litecoin Official Twitter: Lester is not the official Litecoin mascot
The official Litecoin Twitter account released a statement addressing recent misuse of the "Lester" character by projects in the Solana ecosystem. Previously, in response to Litecoin’s humorous acknowledgment that “LTC is a meme coin,” the DOGE community commissioned renowned artist Greg to design the Lester character for Litecoin. However, this image was subsequently used by third parties to launch a token called "lestercoin" on the Solana blockchain. The Litecoin Foundation clarified it has no affiliation with the project and emphasized that Lester is not an official Litecoin mascot.
Sky: USDS now live on Solana network
DeFi protocol Sky (formerly MakerDAO) announced that its stablecoin USDS is now officially available on the Solana network. As the first mainstream DeFi-native stablecoin in the Solana ecosystem, USDS is expected to unlock new opportunities for lending and trading across top-tier DeFi platforms within the ecosystem.
To support ecosystem growth, Sky has launched an early user incentive program, distributing over 500,000 USDS in weekly rewards.
GSR Markets likely market maker for Meme coin BAN
According to monitoring by ai_9684xtpa, GSR Markets is likely acting as a market maker for the Meme token BAN. Supporting data includes: the GSR Markets wallet GNjGn...4iBW4 (marked by Arkham) withdrew 1.5 million BAN from Gate and MEXC 20 hours ago, later depositing part of it into Kucoin; another wallet G13si...zWCdu transferred $2.28 million worth of BAN to GATE four hours ago, with the required SOL for the transaction provided by GSR.
Coinbase announces delisting of wBTC
Coinbase announced it will suspend all trading services for wBTC (Wrapped Bitcoin) around 12 PM ET on December 19, including on Simple, Advanced Trade, Coinbase Exchange, and Coinbase Prime. However, users will still be able to withdraw their wBTC holdings. This decision follows Coinbase’s latest asset review process. In response, the wBTC team expressed regret and surprise at the announcement.
Michael Saylor plans to present Bitcoin treasury strategy to Microsoft board in December
According to Bitcoin for Corporations, MicroStrategy founder Michael Saylor plans to present a proposal to the Microsoft board in December advocating for Bitcoin inclusion in the company’s treasury reserves. Microsoft currently holds $78 billion in cash reserves.
Forta, backed by A16z, launches Firewall – a smart contract protection tool to prevent on-chain attacks
Web3 security firm Forta announced the launch of its new product, Firewall, designed to detect and prevent smart contract vulnerability exploits. Firewall leverages machine learning and the AI model FORTRESS to analyze transaction logs and identify high-risk transactions, assigning each transaction a risk score between 0 and 1—where scores closer to 1 indicate higher likelihood of malicious activity.
Video streaming platform Rumble considers Bitcoin treasury purchase, shares surge 9% after hours
Rumble CEO and founder Chris Pavlovski posted a poll on social media asking whether the company should add Bitcoin to its balance sheet. Following the announcement, Rumble’s stock surged up to 9% in after-hours trading, reaching a high of $6.20.
Strike CEO Jack Mallers and MicroStrategy Chairman Michael Saylor both voiced support, with Saylor offering to discuss implementation details directly with Pavlovski. As of September 30, 2024, Rumble held approximately $132 million in cash, cash equivalents, and marketable securities, with Q3 revenue rising 39% year-over-year to $25 million.
Wallet suspected to belong to ELIZA insider has already realized $4.66M profit, return rate exceeds 2400x
According to Lookonchain, after ai16z partner Shaw announced the deployment of the new token ELIZA, multiple wallets exhibited suspicious trading activity. Immediately after ELIZA was deployed at 06:01:41 UTC, ten wallets purchased 69.05 million ELIZA tokens using 2.07 SOL (~$503) within the same second—now valued at $5.2 million.
A wallet believed to belong to ai16z partner Logan sold off large quantities of lowercase eliza before the deployment, then spent only 24.2 SOL (~$5,900) to acquire 233 million ELIZA tokens—now worth approximately $17.67 million, making it the largest holder. Additionally, a suspected insider wallet (ExYQ...vNw) spent just $1,900 to buy 89.19 million ELIZA tokens, later selling 53.47 million for $1.91 million in profit. The remaining holdings are valued at $2.75 million, resulting in a total profit of $4.66 million within hours—representing a 2,446x return.
ai16z partner Shaw: ELIZA airdrop for ai16zeliza holders officially launched
ai16z partner Shaw announced the official launch of the ELIZA token airdrop for holders of ai16zeliza. Based on snapshot data, a total of 100 million tokens will be distributed proportionally, with 20% unlocked immediately and the remainder released linearly on a daily basis.
The ai16z DAO now holds over 10% of the token supply, while the Eliza project itself holds 3% via a Squads wallet for future development. This vesting mechanism aims to prevent immediate dumping and allow time for the project to align with like-minded partners.
Shaw emphasized that the development team did not profit from yesterday’s events and that all proceeds will be fully reinvested into supporting the ai16z DAO and ai16zeliza project. Users can check eligibility via the official GitHub link and claim the airdrop through the Streamflow platform.
Market Data
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AI Summary: The founder of ai16z launched a new uppercase token ELIZA, sparking controversy between the community and an alleged "cartel." The original lowercase eliza token had performed strongly due to its perceived association with ai16z, but its market value sharply declined after ai16z partner Shaw issued a statement clarifying that eliza is not affiliated with ai16z and promoting the new ELIZA project instead. The move triggered market volatility and community backlash, with critics accusing the team of monopolizing a successful community-driven initiative.
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