According to Odaily, South Korea's financial regulatory authorities are set to enhance their market surveillance, with a particular focus on stocks linked to Donald Trump and the increasing volatility in the cryptocurrency sector. This decision follows the recent U.S. election results and the latest statement from the Federal Reserve's Federal Open Market Committee (FOMC). During a meeting held on November 8, the Financial Supervisory Service (FSS) Director, Lee Bok-hyun, emphasized the necessity of taking stringent measures against market manipulation and the dissemination of unfounded rumors, should there be evidence to support such actions. The FSS is committed to maintaining market integrity and ensuring that any activities undermining market stability are addressed promptly and effectively. The heightened scrutiny by South Korean regulators reflects a broader concern over the potential impact of political developments and economic policies on financial markets. As global markets react to the evolving political landscape in the United States, South Korea is taking proactive steps to safeguard its financial system from undue influence and volatility. The focus on cryptocurrency volatility also underscores the growing importance of digital assets in the global financial ecosystem and the need for robust regulatory frameworks to manage associated risks.

South Korea’s financial regulator will step up its monitoring of the market, paying particular attention to stocks associated with Donald Trump and the growing volatility in the cryptocurrency space. The decision comes after the recent U.S. election results and the Federal Reserve’s latest Federal Open Market Committee (FOMC) statement. During a meeting of the Financial Supervisory Service (FSS) on November 8, FSS Director Lee Bok-hyun stressed the need to take strict measures against market manipulation and the spread of unfounded rumors if there is evidence to support it. (Korea Economic Daily)

According to data disclosed by IntoTheBlock, the TVL of the L2 network decreased by 4.1% month-on-month in October, and Gas expenditure increased by 46% month-on-month, of which Scroll's $200 million airdrop contributed a considerable part of the liquidity. Base and Arbitrum One have driven the recovery of the second-layer network activities, and the monthly transaction volume has increased significantly. Thanks to the increase in Gas expenditure and transaction volume, the revenue of L2 operators increased by 61.1% month-on-month.

Bifrost Liquid Wave is a pre-launch event for Bifrost Tokenomics 2.0. The event reservation started on October 23. Currently, the number of addresses has exceeded 100,000 and it has officially entered the first LST minting phase. During this phase, users can accumulate WAVE points by minting Bifrost LST and continue to receive airdrop rewards based on the number of WAVE points.

MATR1X FIRE, together with Myrrha Labs and GEDA, launched the esports tournament in Thailand - Matr1x Fire Kick-off Esport Tournament in Thai, which attracted more than 16 top Thai teams, including former Call of Duty and Freefire professional players and teams, who will switch to MATR1X FIRE. The total prize pool of the event exceeds 100,000 baht, and the final will be held at EmSphere in Bangkok on November 11. Thailand's top e-sports guild and Fullsense e-sports team support this event. Fullsense has also invited many well-known KOLs in the Thai Web2 field to help. The Geda e-sports platform will broadcast the entire event live to provide e-sports fans with a real-time viewing experience. This e-sports competition will open a new chapter for MATR1X FIRE in the field of Southeast Asian e-sports, attracting more players and core players in the traditional e-sports circle to join MATR1X FIRE. In addition, public chains Polygon, Avacus and ChainParty also provided strong support for this event. At the same time, MATR1X FIRE is about to launch the Global Community Inferno Tournament (Matr1x Fire: Global Community Inferno Tournament), which will cover South Korea, Japan, Taiwan, Thailand, Malaysia, the Philippines, Vietnam, Indonesia, Turkey and other regions, and set up regional exclusive bonus pools. More details will be announced in due course.

Cryptocurrency payment gateway Alchemy Pay announced that it has obtained four new U.S. money transmission licenses (MTLs) in Minnesota, Oklahoma, Oregon, and Wyoming, bringing Alchemy Pay's total number of U.S. state licenses to eight. The latest license follows the approval of Arkansas in September 2023, Iowa, New Hampshire, and New Mexico in November 2023. (Cointelegraph)

Given the recent agreement among South Korean political parties to cancel the planned income tax on financial investments, the cryptocurrency capital gains tax originally scheduled for 2025 is now more likely to be postponed to 2027. A South Korean Democratic Party official said that it is now considered necessary to postpone the cryptocurrency capital gains tax to maintain fairness. The South Korean government proposed a tax law amendment in July that included the postponement of cryptocurrency capital gains tax, but the passage of the amendment has been uncertain due to the Democratic Party's opposition to the government's other tax reduction policies. Min Byoung-dug, a member of the Democratic Party, emphasized that legal recognition of the industry is needed before the income of the virtual asset industry can be legally taxed, so he supports the current decision to postpone the taxation of virtual assets. (Korea Economic Daily)

According to Odaily, recent on-chain data monitoring reveals that on November 8, the GMT team released only 18 million GMT tokens from the ecosystem during their scheduled monthly unlock. Notably, tokens held by the team, investors, and advisors were not distributed. Reports suggest that the GMT team has repurchased all unvested investor tokens. If confirmed, this buyback could involve up to 600 million GMT tokens, potentially indicating significant upcoming strategic initiatives.The limited release of tokens and the potential repurchase of a substantial amount of GMT tokens have sparked discussions about the GMT team's future plans. Such actions often precede major strategic moves, which could impact the token's market dynamics and investor sentiment. The decision to withhold the distribution of tokens held by key stakeholders, coupled with the rumored buyback, suggests a calculated approach to managing the token's supply and market presence.Market observers are keenly watching for further announcements from the GMT team, as these developments could signal shifts in the project's direction or new partnerships. The strategic management of token distribution and potential buybacks are critical factors that could influence the project's growth and stability in the competitive cryptocurrency landscape. As the situation unfolds, stakeholders and investors are advised to stay informed about any official statements or updates from the GMT team regarding their strategic objectives and market strategies.

TL;DR Bitcoin exchange-traded funds (ETFs) recorded $1.38 billion in net inflows on November 7, 2024, reflecting heightened investor confidence and optimism. BlackRock’s iShares Bitcoin Trust (IBIT) led the inflows with $1.1 billion, making it one of the most traded assets, driven by Bitcoin reaching a new all-time high of $76,500. Factors such as Trump’s re-election ... source: https://crypto-economy.com/bitcoin-etfs-soar-to-record-1-38b-inflows-investor-confidence-at-its-highest-level/

Tom Lee, co-founder and head of research at Fundstrat, said in an interview with CNBC that Bitcoin could become a "treasury reserve asset" to help make up for the U.S. deficit, and that Bitcoin could still reach $100,000 this year, with plenty of room for growth.

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