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19:14

Fed minutes: "Several" officials indicated that a rate cut in December is "very likely" appropriate, while "many" officials believe a rate cut in December may not be appropriate.

Golden Finance reports that the Fed's meeting minutes show that "several" officials indicated that a rate cut in December is "very likely" appropriate, while "many" officials believe that a rate cut in December may not be appropriate. "Many" officials support a rate cut in October, "some officials" do not support it, and "some" of those supporting a rate cut in October may also support holding steady.
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12:44

Apex Group acquisition of broker Globacap to drive tokenization business in the United States.

BlockBeats news, on November 19, according to CoinDesk citing two informed sources, Apex Group, a financial service provider with assets under management exceeding $3 trillion, will acquire Globacap, an investment platform based in London that holds a U.S. regulated broker-dealer license. This acquisition will help Apex promote regulated fund tokenization projects in the U.S., as professional investors' interest in blockchain-based real-world assets (RWA) continues to grow. In March of this year, the UK crypto assets trading platform Archax had expressed intentions to acquire the U.S. division of Globacap. However, according to a recent report citing informed sources, that deal did not go through, and new bidders have emerged. Both Apex and Archax declined to comment on the transaction.
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12:10

The Gate on-chain coin earning standard redemption now has an added cancellation feature, available in version 7.29.0.

Gate News bot news, according to the official announcement from Gate on November 19, 2023: Gate will launch the on-chain earn token standard redeemable feature on November 19, 2025, at 18:00 (UTC+8). According to the announcement, users can cancel standard redemption orders 2 hours prior to the expected fund arrival time. For quick redemption orders, due to their high processing timeliness, funds usually arrive within 10 minutes, so cancellation operations are not supported. This feature requires users to upgrade their client to version V7.29.0 or higher.
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11:43

Wintermute: Traders should be allowed to perform on-chain Settlement directly, and DeFi proprietary trading does not require sign up.

Odaily News reported that the crypto market maker Wintermute stated on platform X that it has followed up with the crypto working group of the SEC and has put forward two key points: 1. Regulated dealers should be authorized to establish their own tokenization securities clearing and settlement procedures without triggering rules applicable to brokers providing clearing services to customers, allowing dealers to settle directly on-chain with counterparties and adopt customized risk management standards; 2. Proprietary trading and liquidity provision on DeFi protocols should not trigger dealer registration. If a company trades solely for its own account and does not interact with customers, that activity falls under the long-standing "trader exemption" provisions.
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11:32

BlackRock Bitcoin ETF saw a single-day outflow of $523 million, with US Bitcoin ETF assets shrinking by $3 billion in November.

According to DL News, investors from BlackRock are dumping their Bitcoin. On Tuesday, clients of the asset management giant's flagship fund, the iShares Bitcoin Trust, withdrew $523 million. BlackRock is not alone: Data from DefiLlama shows that U.S. spot Bitcoin exchange-traded funds (ETFs) have evaporated $3 billion so far in November, approaching the $3.5 billion plunge in February.
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BTC-4.79%
11:27

Andrew Tate lost over $800,000 on Hyperliquid: with a win rate of only 35.5%, he became one of the "worst traders in the crypto world"

According to BeinCrypto, market observers have listed former professional fighter Andrew Tate as one of the worst traders in the Crypto Assets space, as he was completely liquidated on the Hyperliquid exchange, losing over $800,000. Arkham's blockchain analysis reveals the severity of Tate's trading losses, as he deposited $727,000 into the decentralized perpetual exchange Hyperliquid. All of his funds are left in the exchange, locked in losing trades, until they are fully liquidated. Tate tried to recover his losses by trading through referral income. He earned $75,000 from users who registered through his referral link. He did not withdraw these rewards but used them for more trading. Eventually, the entire $75,000 disappeared in the same liquidation cycle.
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WLFI-9.12%
BTC-4.79%
YZY-3.56%
11:06

A certain smart money traded NEET Token with a principal of $9900 to achieve a 450% return.

PANews November 19 news, according to Nansen data monitoring, a smart money Address on the Solana chain has increased its $9,900 principal through trading NEET Token to $54,700, achieving a 450% return, and it is still holding these Tokens. NEET Token is a community-driven Meme Token based on "NEET culture" (referring to the group of people who are not in education, employment, or training). It does not have a complex business model and mainly relies on community consensus, social media dissemination, and cultural memes to drive growth.
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10:51

Bitwise CIO Rebuts Bear Market Concerns: The Value of Bitcoin Lies in Its Digital Wealth Storage "Service"

ChainCatcher news, according to The Block, Bitwise Chief Investment Officer Matt Hougan refuted market concerns that Bitcoin may enter a Bear Market. He stated that the value of Bitcoin lies in its role as a digital wealth storage "service" that does not rely on governments, banks, or other third parties. Hougan believes that despite the recent market pullback, institutional demand for this service continues to rise, supporting the long-term development trajectory of Bitcoin.
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BTC-4.79%
09:13

4 (4) fell by 10.47% in 24 hours

Gate News Bot news, on November 19, according to CoinMarketCap data, as of the time of writing, 4 (4) is currently priced at $0.04, down 10.47% in the last 24 hours, with a high of $0.06 and a low of $0.04. The current market capitalization is approximately $416,000, a decrease of about $4.86 million compared to yesterday. 4 Recent Important News: 1️⃣ **The cryptocurrency market is experiencing an overall pullback, with the Meme sector leading the fall** The cryptocurrency market has seen a widespread pullback, with the Meme coin sector leading the decline by over 4%. As one of the representatives of Meme coins, 4 has also not been spared, dropping by 10.47% within 24 hours. This reflects a decrease in current market risk appetite, with investors becoming more cautious towards high-risk assets. 2️⃣ **Short-term holders are selling off in large quantities** The realized losses of short-term holders have surged significantly, 7
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08:36

BEAT (Audiera) rose 15.97% in the last 24 hours

Gate News Bot news, on November 19, according to CoinMarketCap data, as of the time of this report, BEAT (Audiera) is currently priced at $0.46, with a rise of 15.97% in the last 24 hours, reaching a high of $0.55 and a low of $0.24. The current market capitalization is approximately $64 million, an increase of $8.81 million compared to yesterday. Audiera is a Web3 project that integrates 20 years of dance tradition, resurrecting the memories of 5.6 million dancers on the blockchain. Users do not need to download an app; they can simply connect their wallet to enter a new era with AI idols Kira and Ray. The platform supports dancing on Telegram and combines virtual and reality through fitness mats, allowing users to dance while working out and earn double rewards. BEAT is the native token of the Audiera platform.
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BEAT10.05%
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08:10

The Fed meeting minutes are about to be released, and the market is following the September delayed US Non-farm Payrolls (NFP) data.

On November 19, investors became cautious ahead of key data releases, with the dollar consolidating sideways. The Fed meeting minutes will be released at 3 AM East Eight Time on Thursday. Chairman Powell indicated that a rate cut in December is not a done deal. The most closely watched data this week is the September delayed US Non-farm Payrolls (NFP) released on Thursday. The market has mixed views on whether the Fed will cut rates in December, highlighting the importance of this data.
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04:59

Strike founder: Buy the Dips, because the fall of Bitcoin is essentially a currency collapse rather than an asset.

Odaily News Bitcoin payment application Strike founder Jack Mallers posted on the X platform in response to the recent fall in the Bitcoin market. He stated that investors need to understand that what is truly collapsing is not the assets but the currency. Bitcoin is the only market that can honestly reflect this. The continuous record highs in gold prices indicate that the fiat currency system has collapsed. Bitcoin acts like a liquidity alarm, Buy the Dips, because it is the currency that is the problem.
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BTC-4.79%
03:43

Bloomberg ETF Analyst: Bitcoin is not a leading indicator for the stock market

Golden Finance reports that Bloomberg senior ETF analyst Eric Balchunas has released research findings indicating that Bitcoin is not a leading indicator for the stock market. The data shows that in the months following a fall in Bitcoin, the stock market still exhibits positive performance 62% of the time. Balchunas also noted that the S&P 500 index ($SPY) performs strongly, maintaining stability even in the months when both Bitcoin and stocks are falling.
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BTC-4.79%
01:51

MegaETH will launch the Mainnet Beta version Frontier in early December.

According to Foresight News, the real-time blockchain MegaETH announced the launch of the Mainnet Beta version Frontier, which will go live in early December and last for one month. MegaETH will gradually announce partner applications, emphasizing that incentives will not be implemented in the early stages.
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01:34

Cloudflare: The large-scale outage last night was caused by an internal configuration error, not a network attack.

Cloudflare experienced its most severe outage since 2019 on November 18 due to a misconfigured database permission adjustment that caused core system abnormalities, affecting multiple products. The incident was mistakenly identified as a DDoS Attack, and was ultimately resolved through a Rollback, with services restored early on the 19th. Cloudflare has pledged to accelerate system resilience upgrades.
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23:42

Pump launched the "Mayhem Mode" which significantly increased token issuance and revenue in its first week.

PANews, November 19 - According to a report by The Block, the "Mayhem mode" launched by Pump.fun last week has not significantly driven platform growth. Data shows that the average daily issuance of new coins on the platform was 17,300 before the mode was launched, and increased to 17,800 a week after launch, a growth rate of less than 3%. Although the Mayhem mode introduced AI trading agents to enhance the initial trading activity of tokens, it did not lead to revenue growth; instead, platform income declined, weakening the buyback support for the PUMP token. Currently, the market capitalization of PUMP is approximately $1.1 billion, down about 30% from its historical peak.
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PUMP-8.3%
23:24

Hourglass: All refunds for unexpected transactions in the Stable stablecoin pre-storage plan have been processed.

According to Jinse Finance, all refunds for unexpected transactions in the Stable stablecoin pre-deposit plan have been fully processed, as reported by Hourglass. These deposits have been refunded in full and are not included in the plan. Refunds have been sent directly back to the Wallet that initiated the USDC transfer. These situations include: Send USDC directly to the contract Set the receiving address for the pre-iUSDT share to the contract. Set the contract as the recipient when calling redeemNonKyc. If you have any unexpected transactions, USDC has now been returned to your Wallet.
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USDC0.04%
22:46

Trump hinted that the candidate for the Fed chair has been decided, complaining that the dismissal of Powell was blocked by others.

Odaily News Trump stated that he believes he has identified his choice for the next Fed chair, while claiming that someone is preventing him from firing the current Central Bank leader Powell. Trump told reporters: "I think I know my choice." However, he did not specify who the candidate was. U.S. Treasury Secretary Becerra stated that he has narrowed down the contenders to current Fed governors Waller and Bowman, former Fed governor Warsh, White House National Economic Council director Hassett, and BlackRock executive Riedel. Trump said: "We have some surprising names, and some conventional names that everyone is talking about. We might go the conventional route. It's nice to occasionally walk the politically correct path." Becerra had previously stated that he plans to submit recommendations to Trump after the Thanksgiving holiday. The next Fed chair will have to maintain a cautious balance: catering to Trump's desire for low interest rates while also sustaining investment.
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21:48

On-chain detective ZachXBT questions U.S. Senator Warren's allegations that the sale of WLFI "involves national security risks".

U.S. Senators Warren and Reed accused World Liberty Financial of having $10,000 in illegal funds during its Token sale, which only accounts for 0.0018% of the total fundraising. ZachXBT pointed out that this proportion is not significant, and the suspicious entities involved include organizations associated with North Korean Hackers and other national security risks.
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WLFI-9.12%
16:40

The Fed announced a "major adjustment" to its banking regulatory approach.

The Fed released a new memorandum, expecting significant adjustments to the way banks are regulated, emphasizing the need to follow major financial risks, and limiting other supervisory matters. At the same time, Bowman plans to reduce regulatory personnel by 30% over the next year. These changes will affect overall stability regulation but will not impact consumer protection and fair lending regulation for small banks.
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14:23

Xu Zhengyu: Hong Kong will explore the "tokenization" of international shipping rents, placing it on the "Blockchain" for investors to "subscription".

ChainCatcher news, the Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, revealed in a recent interview that Hong Kong is exploring the tokenization of stable cash flows such as international shipping rents, placing them on the blockchain for investor subscription. This model not only creates new investment products but also utilizes blockchain technology to achieve asset traceability. In addition, Hui reiterated that stablecoins are not tools for speculation, and they are currently reviewing license applications, aiming for distribution to begin next year.
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13:08

Perspective: The changing demand structure of Bitcoin is reshaping cyclical behavior.

BlockBeats news, on November 18, Sentora (formerly IntoTheBlock) stated that Bitcoin holders typically accumulate during Bear Markets and distribute during bull runs, forming a "cup" cycle pattern. This round of decline has been slower, and long-term holders have not actively engaged in Buy the Dips, indicating a shift in cyclical behavior. The increase in institutional funds, structured products, and regulated investment vehicles is affecting the timing and manner of market demand emergence. Recent market caution has suppressed Spot buying pressure, and there has even been noticeable selling pressure in the past two weeks. In the long run, a Bitcoin Bear Market may still occur, but its characteristics may rely more on valuation, investment directives, and risk frameworks, rather than panic and euphoria. The participation of professional capital may create a more solid bottom for the market, but downside risks still exist. Future price movement will be less influenced by panic and euphoria, and more dependent on how professional capital decides to allocate the position.
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BTC-4.79%
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09:33

Mastercard partners with Polygon to build a new encryption transfer system.

BlockBeats news, on November 18, reported by Coindesk, that Mastercard has chosen Polygon to build a new type of crypto transfer system, enabling cryptocurrency transmission through human-readable usernames instead of complex wallet addresses. According to the press release issued by Mastercard, its "crypto credential" technology standardizes blockchain address verification by creating human-readable aliases for verified users. The crypto payment API company Mercuryo will be responsible for identification and alias distribution, allowing users to bind these aliases to their hosted wallets. This model mimics the operational logic of applications that transfer funds using usernames instead of bank account information, where the system assigns a unique name that can be bound to a wallet for users. Users can also apply to generate credential tokens on Polygon, which not only demonstrate that their wallets support verification transfer functions but also assist applications in completing based on.
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09:08

Wintermute: The current macroeconomic landscape does not resemble a long-term Bear Market.

Golden Finance reported that Wintermute stated that the recent dumping in the crypto market is mainly driven by macro factors, with no structural break. The global easing policy continues, the U.S. quantitative tightening will end, and liquidity is expected to improve. The overall environment is optimistic, and the future market recovery may rely on policy and interest rate expectations.
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09:03

Wintermute: Market liquidity is expected to improve in Q1 2026, with future catalysts likely coming from policy and interest rate expectations rather than internal encryption liquidity.

PANews, November 18 - According to analysis from the crypto market market maker Wintermute, last week's fall in the crypto market was primarily driven by the repricing of expectations for a Fed rate cut in December, rather than any issues with the market fundamentals. Bitcoin needs to re-enter the range to improve market sentiment. Analysis indicates that part of the pressure comes from the selling behavior of large holders. Typically, the sell-off from Q4 to Q1 is seasonal, but this year this trend has occurred earlier, partly due to market expectations that the four-year cycle may imply weaker performance in the coming year. This expectation has accelerated risk-off operations, amplifying market volatility. However, this decline does not have substantive fundamental issues and is mainly driven by macro factors in the United States. Although short-term interest rate adjustments affect market sentiment, there are no signs of deterioration in the global macro environment. The world is still in a loose cycle: Japan plans to launch a $110 billion stimulus package, and China continues to implement loose policies.
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BTC-4.79%
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08:10

MNEMO and 22 other tokens have been delisted and repurchased on Gate, and users can continue to use the Wallet function.

Gate News bot news, according to the exchange's latest announcement: Gate has decided to delist the trading markets for 22 tokens including MNEMO, FTON, KOAI, NET, BD20, SEAT, UMB, LAMBO, BCMC, PYN, SASHIMI, BDIN, AIVA, FAKEAI, GARD, AVAXAI, AIFUN, SENATE, KEY, ZELIX, IDEA, and TENET. These tokens have been determined to not meet the exchange's listing standards. For users who have submitted forms and meet the requirements, Gate has completed the buyback of the relevant tokens and deposited the buyback amount into the user accounts. The wallet storage function for these tokens will remain temporarily, and the specific delisting time will be notified separately.
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07:41

Blueport Interactive founder Wang Feng: Bitcoin has started to buy the dip since it fell below $100,000.

According to Odaily, Wang Feng, the founder of Blueport Interactive, stated that he has started to buy the dip since Bitcoin fell below $100,000. Wang Feng emphasized that policy release does not equal market prosperity; the liquidity of the stablecoin market is the key to the future development of the crypto market. Wang Feng called on media and research institutions to pay more attention to the dynamics, data, and briefs of the stablecoin market. As of the time of writing, the market value of stablecoins exceeds 310 billion USD, with USDT ranking first at approximately 183.8 billion USD, accounting for nearly 60%; USDC ranks second with a market value of about 12.4 billion USD.
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BTC-4.79%
06:18

Wang Feng: Since Bitcoin fell below $100,000, I have started to buy the dip.

BlockBeats news, on November 18, Wang Feng, the founder of Blueport Interactive, stated that since Bitcoin fell below $100,000, he has been quietly buying the dip, dip, dip... (implying that there is an endless amount of buying the dip). He also mentioned that if we disregard policies and the realization of external factors in the US stock market, and solely look at the internal situation of the crypto market, there is more focus today on stablecoins, which are expected to be prominently featured in 2025. Just because policies are relaxed doesn't mean the market is prosperous, and the scale of minting by various parties does not represent liquidity in practical scenarios. Issuance is one thing, application is another. We should observe more the application of stablecoins in the market and the performance of actual businesses. Whether there is strong liquidity demand in the stablecoin market is what truly determines the direction of the crypto market's next steps in terms of being bullish from an internal perspective. We look forward to more media and research institutions providing updates, data, and briefings on the dynamics of the stablecoin market.
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BTC-4.79%
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04:51

Bitunix Analyst: Waller publicly supports December interest rate cut, Fed's divergence becomes the biggest uncertainty in the market.

BlockBeats news, on November 18, The Federal Reserve Board of Governors member Christopher Waller publicly expressed support for a further interest rate cut of 25 basis points at the December meeting, focusing on the ongoing weakness in the labor market and concerns over pressures on middle and lower-income consumers. Waller defined this as "risk management style" rate cuts, believing that in the absence of official data, it is better to provide insurance in advance to avoid a rapid deterioration in employment. Meanwhile, the hawkish voices within the Fed have not subsided, and the split in votes makes the next decision full of variables—whether to maintain interest rates or cut them again, there could be at least three dissenting votes. Policy expectations are no longer one-sided, and the market needs to hedge between the "possibility of rate cuts" and "increasing policy divergence." Under this policy fog, the crypto market has shown significant pressure. The panic indicator is currently at 12, trading volume surged 51% in the past 24 hours, and market shocks have sharply amplified; 24
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BTC-4.79%
04:18

The Constitutional Court of Russia will make a landmark ruling on the ownership case of USDT.

Golden Finance reports that the Constitutional Court of Russia is about to rule on whether its citizens have property rights to stablecoins such as USDT issued by Tether. According to reports, experts have stated to the court that stablecoins linked to fiat currency do not fall under the category of digital financial assets (DFA), and the current regulations in Russia regarding "digital currency circulation" do not apply to USDT. Digital financial assets are a type of tokenized asset that has a special regulatory status in Russia. Alexey Guznov, the Deputy Governor of the Central Bank of Russia, stated in court: "From a conceptual perspective, what we are discussing here (stablecoin) is essentially a substitute for currency." This case is expected to establish a long-lasting legal precedent for future civil cases related to stablecoin ownership, with the final judgment to be announced before the end of this year. At the same time, Russian legislation
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DFA-8%
03:50

Arthur Hayes: The influx of funds into ETFs and DAT has ended, and if liquidity cannot cover Bitcoin, it must fall.

ChainCatcher news, Arthur Hayes recently stated that although the liquidity of the US dollar has contracted since April 9, the inflow of ETFs and the purchase of DAT have allowed Bitcoin to rise, but this situation has now ended. The tone is insufficient to encourage institutional investors to continually purchase ETFs, and most DAT trading prices are below mNAV, prompting investors to start avoiding these Bitcoin derivative securities. If these flows can't mask negative liquidity, Bitcoin will have to fall to reflect current short-term fears that dollar liquidity will contract or not grow as fast as politicians have promised.
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BTC-4.79%
03:11

CROSS (CROSS) has risen 20.23% in the last 24 hours.

Gate News Bot news, on November 18, according to CoinMarketCap data, as of the time of writing, CROSS (CROSS) is currently priced at $0.13, with a rise of 20.23% in the last 24 hours, reaching a high of $0.21 and a low of $0.09. The current market capitalization is approximately $42.2 million, an increase of $7.1 million compared to yesterday. CROSS is a decentralized protocol and infrastructure layer designed to empower open communities and achieve a transparent digital economy through token-based value coordination. Its mission is to cultivate a fair, accessible, and community-governed Web3 environment, where users are not just participants but also owners. The CROSS token ($CROSS) is the native token of the CROSS protocol, used to support transactions, reward participants, and sustain player-owned Web3 gaming ecosystems. CROSS recently
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CROSS-13.3%
BTC-4.79%
00:55

Vitalik criticizes SBF: FTX completely deviates from the ideals represented by Ethereum.

According to BlockBeats news on November 18, as reported by Decrypt, Vitalik made a strong appearance on the main stage of the Ethereum Devconnect conference in Argentina on Monday, sharply criticizing former FTX CEO SBF. Vitalik pointed out that FTX completely deviated from the ideals represented by Ethereum: he believes that Ethereum is decentralized, "cannot do evil," and is a community. In contrast, FTX relied on a centralized structure, requiring users to "trust that the platform would not do evil."
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ETH-8.91%
23:48

The outlook for Fed interest rate cuts is uncertain, and international gold prices continue to fall.

According to ChainCatcher news and reports from Jin10, with the support of the fading expectations for the Fed to cut interest rates next month, gold prices continued to fall for the third consecutive day. On Tuesday morning, spot gold traded around 4,040 USD/ounce. Traders and policymakers are awaiting a large amount of data to be released, and several Fed officials have warned that they will not lower borrowing costs again. The interest rate swap market currently shows that the probability of the Fed cutting rates in December is less than 40%.
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20:56

TD Cowen: Strategy stocks have a 170% rise potential.

Golden Finance reports that TD Cowen analysts state that although the mNAV of Strategy recently fell below 1 (which means its stock trading price is lower than the market value of its Bitcoin holdings), and Bitcoin has fallen to a seven-month low, this has not changed its long-term outlook. The company believes that as its Bitcoin accumulation model scales up, there is still significant pump potential. Analysts Lance Vitanza and Jonnathan Navarrete maintained a target price of $585 for MSTR, which implies an approximate 170% rise from Strategy's current stock price of around $194. They noted that the current weakness reflects more of the market volatility rather than any change in the company's ability to accumulate additional Bitcoin.
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BTC-4.79%
19:41

Fed Cook denies fraud allegations, lawyer calls it "political persecution"

According to Jinse Finance, the Wall Street Journal reports that the lawyer for Fed governor Cook provided a detailed defense of her mortgage application on Monday, arguing that the apparent discrepancies in the loan documents were either accurate at the time or "unintentional markings," and that given the other information disclosed to the lenders, these discrepancies could not constitute fraud. The Supreme Court has currently blocked Trump's attempt to remove her from office and will hear arguments in January. In a letter to the Attorney General, Cook's lawyer also accused the director of the Federal Housing Finance Agency (FHFA), DeMarco, of selectively targeting Trump's political opponents while ignoring similar accusations against Republican officials.
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14:31

The Senate committee strives to finalize the market structure legislation draft for review in December.

According to Golden Finance, Crypto In America reports that Senate staff are racing against the clock to finalize the market structure legislation draft before Thanksgiving. Senate Agriculture Committee Chair John Boozman (Republican, Arkansas) stated he is committed to achieving this timeline and noted that the government shutdown has delayed his original plan to review the bill this week. House Banking Committee Chairman Tim Scott (Republican, South Carolina) originally planned to complete the review of the banking bill by the end of September, but he has not yet indicated when the draft portion under his committee's jurisdiction will be submitted for a vote. The text of the draft has not been made public since it became a bipartisan product after last month's bipartisan roundtable discussions on Capitol Hill, and it is still unclear whether it will be released before the Thanksgiving holiday. The draft leaves several key gaps, including how to regulate decentralized finance (DeFi), and the content in parentheses.
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13:16

Lily Liu: "Enterprise chains" are killing the spirit of encryption, we should find back the native spirit of encryption.

BlockBeats news, on November 17, Lily Liu, the chairwoman of the Solana Foundation, posted on social media calling for the "crypto world to return to the spirit of cypherpunk." Lily Liu stated: "We are in the era of 'AppChain' - companies with massive balance sheets and ready distribution channels can package a single sequencer with fancy marketing while promoting the rigid narrative that 'decentralization doesn't matter' and claiming that this centralized effort 'is helping Layer1 development,' even though everyone knows this is just illogical promotional rhetoric. Meanwhile, the application chain infrastructure that truly embodies the native spirit of encryption is being crushed by corporate giants. Even in the face of revenue difficulties, these projects start to self-hypnotize, believing that the only way out is to transform themselves into 'AppChain.' This is definitely not what I thought upon first reading.
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