LianGuai Morning News | Page X shows that CZ’s account has returned to normal. SBF provides security with cryptocurrency investment advice.

LianGuai Morning News | Latest Update CZ's Account is Back to Normal, SBF Offers Expert Cryptocurrency Investment Assistance for Security Purposes

Headlines

▌X Page Displays CZ’s Account has Recovered

According to X (formerly Twitter) page, Binance founder CZ’s account has now returned to normal. CZ has changed the name of the X account from CZ Binance to CZ BNB, and the blue verified account badge has disappeared, which was previously shown as “Warning: This account is temporarily restricted” due to the name change.

CZ’s latest tweet states that there is no need to worry, everything is fine now.

Previously reported, Binance founder CZ’s X account displayed “Warning: This account is temporarily restricted,” but clicking “Yes, view profile” allows access to previously posted information.

• Russian Bailiffs Amplify Their Arsenal Prepare to Seize CBDC & Crypto!
• 🌪️ BONK! Crypto Coin: A Rollercoaster Ride of Epic Proportions!
• ETHGate Saga Unveils a Chapter of Drama: Lawsuits and Whistleblower Filings on the Horizon

▌SBF Confined with Former President of Honduras and Provides Cryptocurrency Investment Advice to Guards

SBF has been placed in the residence of former Honduran President Juan Orlando Hernández, who is awaiting trial for accepting drug trafficker bribes. Their relationship seems good as they have had “friendly conversations.” SBF’s difficulties obtaining vegetarian and ADHD medications in prison have been resolved. An anonymous source revealed that SBF has also provided guards with advice on cryptocurrency investments. Furthermore, SBF uses mackerel as a currency for services in prison.

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Market

As of press time, according to coinmarketcap data:

BTC recent price is $37,276.1 with a daily change of+0.88%;

ETH recent price is $2060.47 with a daily change of+0.90%;

BNB recent price is $233.6 with a daily change of+1.17%;

XRP recent price is $0.6197 with a daily change of+0.60%;

DOGE recent price is $0.0761 with a daily change of+1.56%;

ADA recent price is $0.3871 with a daily change of+2.33%;

SOL recent price is $56.59 with a daily change of-0.44%.

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Policies

▌SEC Commissioner Hester Pierce Believes SEC Has No Reason to Stop Spot Bitcoin ETF’s Launch

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Pierce stated that the SEC has no reason to stop the launch of a spot Bitcoin ETF. She refused to comment on the discussions between regulatory agencies and ETF issuers but emphasized that each application must be evaluated based on its merits.

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Blockchain Applications

▌Polygon Labs Engineer: Blast is Not a Layer 2 and the Contract is Controlled by 3/5 Anonymous New Addresses

Jarrod Watts, a developer relations engineer at Polygon Labs, stated that the Blast contract is an upgradable contract controlled by a 3/5 multisig, with all 5 addresses being anonymous new addresses. Blast could potentially execute code upgrades and immediately steal funds through multisig. Although many other Layer 2 solutions, including Arbitrum, have similar functionalities, Blast (currently) is not a Layer 2, but just a smart contract that accepts user funds and invests them into protocols like Lido. There are no testnets, no transactions, no bridges, no rollups, and no transaction data sent to Ethereum. If the 3/5 multisig controlling the contract doesn’t do the right thing in the future, users will not be able to withdraw the funds deposited into the Blast contract at any time.

Regarding this, SlowMist founder Yu Xian said that Blast’s contract is indeed an upgradable contract, as mentioned by Jarrod Watts. The control belongs to a 3/5 multi-signature (unknown who the 5 people are) and there is no time lock. If they want to make an exit scam, they can either upgrade the multi-signature with malicious logic contracts or set up a malicious mainnet bridge by enabling the transition. Apart from the contracts deployed on the Ethereum blockchain, Blast is essentially a decentralized web2 project with several well-known institutions endorsing it. Users tend to trust projects endorsed by reputable institutions.

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Cryptocurrencies

▌JPMorgan: GBTC could face $2.7 billion outflow when converting to ETF

JPMorgan analysts state that traders have been buying Grayscale’s GBTC since the beginning of this year. The trading price of GBTC has been lower than the potential value of the Bitcoin it holds, indicating that many GBTC traders are hoping to profit from the price difference when it converts to a spot Bitcoin ETF. This means that many GBTC traders will seek to cash out during the conversion. JPMorgan analysts reviewed the inflows of GBTC since 2023 to estimate the value of GBTC that could be sold during the conversion, which is estimated to be around $2.7 billion.

▌Data: Ethereum network activity surges

According to DappRadar’s data, evaluating the state of the Ethereum network, the Total Value Locked (TVL) in Ethereum DApps reached $26 billion on November 23, an increase of 5% from the previous week. Although Ethereum’s market cap of $248 billion is behind Bitcoin’s $728 billion, both networks generate similar protocol revenues. In the past 7 days, the Bitcoin network collected $57.5 million in fees, while Ethereum collected $54.3 million. These numbers do not include ecosystem fees from platforms like Lido, Uniswap, or Maker. Ethereum also regained its leading position in NFT sales, with a trading volume of $12.6 million within 24 hours. Despite Bitcoin briefly taking the lead in NFT activity, Ethereum remains the preferred blockchain for prominent NFT projects.

▌Russian cryptocurrency exchange CommEX has a daily trading volume of 90 million rubles

According to data released by the Russian cryptocurrency exchange CommEX, its daily trading volume has reached 90 million rubles since its launch, with over 200,000 user accounts and a 460% increase in trading volume over the past month.

CommEX started operating on September 26 after acquiring Binance’s Russian business and focuses on the Russian market. As of November 15, Binance stopped supporting ruble deposits but provided users with the opportunity to withdraw funds to the CommEX platform with zero commission.

▌Ripio CEO: Stablecoins will continue to play a crucial role in Argentina

Argentinian President-elect Javier Milei promised economic reforms during his campaign, and Ripio CEO Sebastián Serrano says that regardless of what happens, stablecoins will play an important role in the financial lives of Argentinians. Serrano says that the country’s cryptocurrency community has responded enthusiastically to the election of this former economics professor. Ripio, an Argentinian cryptocurrency exchange, saw a 180% increase in new users in October, and a 110% increase on November 19th, the day of Milei’s election.

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Important Economic Update

▌95.3% Probability that the Federal Reserve will Keep Interest Rates Unchanged in December

According to the CME “FedWatch”: The probability of the Federal Reserve keeping interest rates unchanged in the range of 5.25%-5.50% in December is 95.3%, while the probability of a 25 basis point rate hike is 4.7%. The probability of the interest rates remaining unchanged through February next year is 89.4%, with a cumulative rate hike of 25 basis points at 10.3%. The probability of a cumulative rate hike of 50 basis points is 0.3%. The probability of a cumulative rate cut of 25 basis points in March next year is 21.5%, with a likelihood of the rates remaining unchanged at 70.4%, a cumulative rate hike of 25 basis points at 7.9%, and a cumulative rate hike of 50 basis points at 0.2%.

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LianGuai Encyclopedia

▌What is an NFT DApp?

An NFT DApp, short for Non-Fungible Token Decentralized Application, is a blockchain-based application that integrates non-fungible tokens. With such applications, users can create, buy, sell, and trade original digital products, such as artwork, collectibles, and in-game items. NFT DApps empower game players, artists, and content creators by leveraging the transparency and security of blockchain technology to transform ownership. The importance of NFT DApps lies in providing a decentralized marketplace, facilitating peer-to-peer transactions, introducing innovative forms of ownership, disrupting existing industries, and democratizing the global digital economy.

Disclaimer: LianGuai is a blockchain information platform. The content of the published articles is for informational reference only and should not be considered as actual investment advice. Please establish correct investment concepts and improve risk awareness.

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