Crypto Morning News: Trump team considers creating White House's first crypto-related position; Vitalik buys ANON, an anonymous social token in the Base ecosystem
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Crypto Morning News: Trump team considers creating White House's first crypto-related position; Vitalik buys ANON, an anonymous social token in the Base ecosystem
Holding virtual currency individually is not illegal, but unauthorized issuance of tokens for fundraising is prohibited.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
NVIDIA Q3 Earnings: Revenue of $35.1 Billion, Net Profit of $19.31 Billion, Both Exceeding Market Expectations
NVIDIA released its fiscal 2025 third-quarter earnings report, achieving revenue of $35.1 billion, a 17% increase quarter-over-quarter, and net profit of $19.31 billion, up 109% year-over-year—both figures surpassing market expectations.
Data center business revenue reached $30.8 billion, growing 112% year-over-year; gaming business revenue was $3.3 billion. The company expects fourth-quarter revenue to reach $37.5 billion, reflecting strong customer demand for its next-generation AI chips from Microsoft, Google, Meta, and xAI.
The company plans to begin mass production of its Blackwell series products in the fourth quarter of fiscal 2025, though supply shortages are expected during fiscal 2026. Despite robust results, NVIDIA’s stock dropped 5% in after-hours trading due to extremely high investor expectations.
Source: Trump Team Considering Creation of First-Ever White House Crypto-Related Position
According to Bloomberg, sources revealed that Donald Trump’s campaign team is considering establishing the first dedicated role within the White House focused on cryptocurrency policy. Potential candidates are currently under review. This position could take the form of a senior White House staffer or a so-called "crypto czar," responsible for overseeing federal cryptocurrency policy and regulation.
Sources noted that crypto industry advocates are pushing for this role to report directly to Trump. If established, it would mark the first time the White House has created a dedicated position for cryptocurrency matters.
MicroStrategy Market Cap Breaks $100 Billion
U.S. stock market data shows MicroStrategy’s market capitalization has surpassed $100 billion, reaching $100.57 billion, with shares rising 14.88%.
vitalik.eth Swaps 0.082 ETH for 30,303 ANON
On November 21, according to Arkham monitoring, Ethereum co-founder Vitalik Buterin’s address vitalik.eth swapped 0.082 ETH (approximately $249.63) for 30,303 ANON tokens.
Vana Foundation Announced, Plans Mainnet Launch
Officially announced, the Vana Foundation has been established and will launch the Vana mainnet.
The Vana protocol, developed collaboratively by the Vana Foundation and Open Data Labs, enables users to contribute their private data on-chain to projects building future artificial intelligence, transforming personal data into a new class of valuable assets. The network is powered by the VANA token, facilitating data validation, governance, and user-driven transactions, operating under a privacy-preserving and permissionless framework.
Since the developer testnet launched in June 2024, the Vana network has attracted 1.3 million users, over 300 DataDAOs, and achieved 1.7 million daily transactions.
DWF Labs Launches $20 Million Meme Fund to Support Innovative Meme Projects
According to Finance Feeds, DWF Labs announced the launch of a $20 million "Meme Fund" to support innovative meme projects across multiple blockchains. The fund is now accepting proposals from meme coin projects seeking investment and mentorship.
Former CSRC Technology Regulation Chief Yao Qian Expelled Over Virtual Currency-Based Bribery
According to the Central Commission for Discipline Inspection and National Supervisory Commission website, Yao Qian, former director of the China Securities Regulatory Commission (CSRC) Technology Regulation Department and former head of the Information Center, has been expelled from the Party and removed from public office. He abandoned his original mission, disregarded politics, pursued fame, positioned himself as a fintech expert, and went to great lengths to favor specific tech service providers, willingly becoming a "priority target" for those seeking influence.
He abused regulatory powers including policy recommendation, formulation, and execution, neglected his technology oversight duties, sought improper benefits for others in areas such as IT service provider expansion and hardware/software procurement, and engaged in quid pro quo transactions using virtual currencies. He participated in superstitious activities, violated the spirit of the Central Eight-point Regulation by accepting luxury gifts such as Moutai liquor and banquets, breached organizational principles by helping others in employment recruitment, violated integrity rules by having rental and other personal expenses paid by regulated entities, improperly borrowed large sums from regulated parties, and made unauthorized equity investments in enterprises. He illegally accepted property of exceptionally large amounts.
21Shares Adds Staking Feature to Its Core Ethereum ETP Product
Cryptocurrency ETP issuer 21Shares AG announced the addition of staking functionality to its core Ethereum ETP product, which has been renamed the “Ethereum Core Staking ETP” (ETHC). The product is currently listed on the Swiss Stock Exchange, Germany’s Xetra exchange, and Euronext Amsterdam, with a management fee of 0.21%, among the lowest in the market.
Crypto KOL Ansem: Will Only Buy Meme Coins That Meet One of Three Criteria
Crypto influencer Ansem shared his meme coin investment strategy on X, stating he will only invest in meme projects that meet at least one of the following three criteria:
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Able to continuously attract retail investor buying;
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Potential to be listed on Binance;
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Have a unique narrative compared to other meme coins.
Upbit to List JASMY and NCT, Add BONK/KRW Trading Pair
Upbit announced it will add trading pairs for JasmyCoin (JASMY) and PolySwarm (NCT) at 15:00 local time on November 20. New pairs include JASMY/BTC, JASMY/USDT, NCT/BTC, and NCT/USDT. Additionally, Upbit will launch the BONK/KRW trading pair at 12:30 local time on November 20.
Shanghai High Court: Holding Cryptocurrency Is Not Illegal, But Unauthorized Token Offerings Are Prohibited
The Shanghai High People's Court published an article on November 18 explaining a dispute case involving cryptocurrency issuance and financing services. The court clarified that cryptocurrencies, as virtual commodities, possess property value, and merely holding them is not illegal.
In the specific case, in 2017, an agricultural development company (Company X), optimistic about cryptocurrency development, signed a "Blockchain Incubation Agreement" with an investment management firm (Company S), paying a 300,000 RMB service fee for token issuance. The Songjiang District People's Court ultimately ruled the agreement invalid and ordered Company S to return 250,000 RMB.
The court held that token offerings constitute unapproved illegal public financing, suspected of multiple violations. The disputed "Blockchain Incubation Agreement" was deemed invalid due to violation of financial regulations. The court emphasized that while individuals may hold cryptocurrency, commercial entities must not arbitrarily participate in cryptocurrency investment/trading or issue tokens independently.
Market Overview
Suggested Reading
Rising Quietly to a Multi-Million Dollar Market Cap: What Is Base's $ANON?
AI Summary: On the Base ecosystem, a cryptocurrency named $ANON rapidly surged to a $22 million market cap within six days, drawing market attention. $ANON emerged alongside Superanon, an anonymous posting app created by Polish developer woj, leveraging zk-proofs for privacy. The token’s distribution model and community-driven decentralization narrative attracted significant user interest. Although woj shows limited interest in further developing the uppercase $ANON project, the community has already begun building new applications around it, including anoncast and Base Colors. Anoncast inherits Superanon’s anonymous posting function with a token-holding requirement, while Base Colors is an NFT collection representing internet colors.
When Consumer-Grade AI Meets Crypto: Which Projects and Directions Are Worth Watching?
AI Summary: This article explores the convergence of cryptocurrency and consumer-grade AI and its potential opportunities, analyzing current market trends and emerging projects. It notes that although these two technologies may appear ideologically conflicting, their integration could lead to innovative consumer applications, transforming how we interact with digital assets and synthetic intelligence.
DeSci: How Can On-Chain Memes Challenge the Existing Scientific Research System?
AI Summary: This article examines the development and application potential of decentralized science (DeSci) in the research field. DeSci aims to build public infrastructure for scientific research via Web3 technologies, addressing issues such as research funding and intellectual property management. Although the DeSci market remains in its early stages, its future potential is vast, especially when backed by influential figures.
AI Summary: This article analyzes the challenges and opportunities Web3 projects face when implementing social viral marketing in Western markets, exploring strategies for overcoming cultural differences to achieve effective growth. By examining Pinduoduo’s success in Asian markets, the article highlights the uniqueness of Western markets and proposes redefining social virality for these regions.
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