AICoin Focus: Daily Hot Picks (November 15)

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1. Attorneys General from 18 U.S. States Unite to Sue the SEC, Accusing It of Overregulating the Crypto Industry and Requesting the Court to Declare That Digital Asset Trading Does Not Constitute an Investment Contract.

2. Former SEC Chairman Jay Clayton Nominated by Trump as U.S. Attorney for the Southern District of New York, Potentially Influencing Future Crypto Regulation Trends.

According to BlockBeats, on November 15, Trump announced on the social media platform Truth Social, "I am pleased to announce that Jay Clayton from New York has been nominated as the U.S. Attorney for the Southern District of New York. Jay performed exceptionally well as the Chairman of the U.S. Securities and Exchange Commission (SEC) during my first term." -Original

3. After Trump's Victory, U.S. Bitcoin Spot ETF Cumulative Trading Volume Exceeds $500 Billion, Increasing Market Interest in Crypto Assets.

According to The Block, since the launch of the U.S. Bitcoin spot ETF in January 2024, the cumulative trading volume has surpassed $500 billion. This milestone coincides with BlackRock's IBIT Bitcoin ETF setting a new daily trading volume record of $5 billion. Since this week, the Bitcoin ETF has seen a net inflow of $2.4 billion. The trading volume of the spot Bitcoin ETF has rapidly increased since its launch in January, surpassing $100 billion in March and reaching $200 billion in April. With the crypto market's correction, Bitcoin prices fluctuated between $50,000 and $70,000 for several months until Trump's recent victory drove prices above $90,000, boosting ETF trading volume again. BlackRock's IBIT fund currently holds a market share of 67%, with assets under management (AUM) of $41.1 billion. Additionally, the U.S. Ethereum spot ETF has also seen increased trading volume since its launch in July, with a daily trading volume of $702 million on November 13, totaling $22.3 billion. -Original

4. Solana On-Chain DEX Trading Volume Hits All-Time High, Accounting for 42% of Total Daily Trading Volume Across All On-Chain DEXs.

According to Solana Floor, on November 14, the daily trading volume of Solana on-chain DEXs accounted for 42% of the total daily trading volume across all on-chain DEXs, setting a new all-time high. The daily trading volume on Ethereum's DEXs accounted for 17.45%, while BSC's DEXs accounted for 12.58%. -Original

5. Franklin Templeton Expands $410 Million Money Market Fund to the Ethereum Blockchain, Indicating Traditional Financial Institutions' Recognition of Blockchain Technology.

Franklin Templeton has expanded its (FOBXX) trading to the second-largest blockchain, Ethereum (ETH). -Original

6. Significant Increase in U.S. Bitcoin ETF Inflows, Total Net Inflows Reach $28.3 Billion Since Trump's Election Victory.

Since the launch of the U.S. Bitcoin spot ETF in January this year, the cumulative trading volume has surpassed $500 billion. BlackRock's IBIT set a new daily trading volume record of $5.2 billion on November 13, achieving an asset scale of over $40 billion in just 211 days, breaking the previous record of 1,253 days held by the IEMG fund. Data shows that the Bitcoin ETF has gained $2.4 billion in net inflows this week. Since Trump's election victory, the ETF has attracted $4.7 billion in inflows, with total net inflows reaching $28.3 billion since its launch. Currently, the total assets under management of all Bitcoin ETFs are approximately $89 billion, with IBIT leading at $41.1 billion. -Original

7. The UK Government Plans to Pilot Digital Government Bonds Using Distributed Ledger Technology, Exploring Innovative Financial Instruments.

The UK Treasury announced on Thursday that the government will launch a pilot program to issue digital government bond instruments similar to bonds using distributed ledger technology. -Original

8. Federal Reserve Chairman Powell States That the Fed Has Time to Understand the Impact of Trump's Policies on the Economy and Is Committed to Controlling Inflation.

According to BlockBeats, on November 15, Federal Reserve Chairman Powell stated that the Fed has time to adjust its policy-making approach before needing to respond to Trump's return to the White House. Powell said, "I think it's too early to draw conclusions now; we don't really know what kind of policies will be implemented. I believe we have time to assess the net impact of policy changes on the economy before we make a policy response. Fed officials just need more policy clarity before they can start updating economic forecasts and policy expectations." -Original

9. International Institute of Finance Warns That Trump's Policies Could Cause U.S. Debt-to-GDP Ratio to Rise Above 150%.

According to BlockBeats, on November 14, analysts from the International Institute of Finance (IIF) stated that the incoming president's plan to cut taxes without reducing spending on inequality could raise U.S. national debt from the current approximately 100% of GDP to over 135% in ten years. Inflation may also rise as Trump stimulates spending by imposing tariffs on foreign-made goods, making imports more expensive. U.S. national debt is already nearing $36 trillion, and the IIF warns that if Trump's tax cut plan results in greater losses for the U.S. Treasury than expected, debt could exceed 150% of GDP. Additionally, the IIF noted that U.S. farms, construction, and healthcare "heavily rely on immigrant workers," and targeting this group under Trump's leadership could "put additional upward pressure on prices." -Original

10. Three Arrows Capital Seeks to Increase Its Claim Against FTX to $1.53 Billion, Ongoing Legal Disputes Continue.

The liquidators of the defunct crypto hedge fund Three Arrows Capital are attempting to amend their claim against FTX, increasing the amount from $120 million to $1.53 billion. The liquidators claim that FTX liquidated and seized their assets on the platform two weeks before the hedge fund's collapse to settle $1.33 billion in debts. The hedge fund argues that these transactions were "avoidable and unfair," causing harm to Three Arrows Capital's creditors. Three Arrows Capital believes the liquidation should be invalidated, accusing FTX of undervaluing trades and breaching trust and contract. Three Arrows Capital also claims that FTX delayed providing necessary information, forcing them to parse original data to calculate losses. Therefore, Three Arrows Capital stated that it could only confirm the liquidation amount in August. However, FTX responded that an unnamed individual associated with Three Arrows Capital initiated the asset liquidation, and FTX has not yet identified this person. A court hearing will be held on November 20 to discuss Three Arrows Capital's motion to amend its claim. -Original

11. Crypto Mining Company BIT Mining Invests in the Native Token PROS of the Decentralized Protocol Prosper, Marking Further Expansion in the Blockchain Field.

The decentralized protocol Prosper announced that its native project token PROS has received investment from crypto mining company BIT Mining, with specific amounts not disclosed. The Prosper protocol aims to connect institutional-grade Bitcoin mining capabilities to the blockchain, intending to unlock Bitcoin's potential through liquidity mining. -Original

12. South Korea's Financial Commission Discovers 500,000 Suspected KYC Violations During Review of Upbit, Potential Regulatory Measures May Follow.

The Financial Information Analysis Institute (FIU) of South Korea's Financial Commission discovered at least 500,000 suspected violations of customer identity verification (KYC) obligations during the review of the operators of the virtual asset exchange Upbit. The FIU is reviewing the legality of these cases one by one. The violations found in this review include some accounts registered using vague identification documents, which may have been used for money laundering or other illegal activities. According to the Specific Financial Transaction Information Act, virtual asset exchanges must update their licenses every three years, and violations may face fines of up to 100 million won. -Original

13. Michael Saylor Calls for the U.S. to Establish a Bitcoin Strategic Reserve, Believing Changes in Crypto Policy Will Benefit Industry Development.

Although the idea of the U.S. establishing a Bitcoin (BTC) reserve is currently just a concept rather than a concrete plan, Michael Saylor believes that the proposal should—and will—be realized. -Original

14. Federal Reserve's Barkin States Efforts Are Underway to Normalize Its Balance Sheet, Focusing on Optimal Inflation Data.

Federal Reserve's Barkin stated that the Fed is working to normalize its balance sheet rather than using it to tighten financial conditions, with optimal inflation data being government data such as the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE). -Original

The above is a selection of hot topics from the past 24 hours. For faster news, please download AICoin (aicoin.com).

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