In November 2024, a total of 21 hacking incidents occurred, resulting in a loss of approximately US$76.86 million, of which US$25.5 million was returned. The causes of the incidents involved contract loopholes, account hacking, and price manipulation.

According to PANews, MicroStrategy has disclosed in its latest 8-K filing that the company sold a total of 3,728,507 shares between November 25, 2024, and December 1, 2024. This transaction, conducted under a sales agreement, resulted in approximately $1.48 billion in net proceeds after deducting sales commissions.As of December 1, 2024, MicroStrategy still has around $11.3 billion worth of shares available for issuance and sale under the same sales agreement. This strategic move highlights the company's ongoing efforts to manage its financial resources and optimize its capital structure.

According to Odaily, Nano Labs, a company specializing in the design of cryptocurrency mining chips, has unveiled a strategic plan to purchase and hold Bitcoin worth $50 million over the next five years. This decision underscores the company's confidence in Bitcoin as a long-term store of value and a foundational asset within the rapidly evolving Web 3.0 ecosystem. Nano Labs' announcement highlights its commitment to integrating Bitcoin into its financial strategy, reflecting a broader trend among tech companies recognizing the potential of digital currencies. By investing in Bitcoin, Nano Labs aims to leverage its growth potential and stability as a digital asset, aligning with the company's vision of participating actively in the digital economy. The move by Nano Labs is indicative of a growing belief in the transformative power of blockchain technology and cryptocurrencies. As the Web 3.0 ecosystem continues to develop, Bitcoin's role as a key asset is expected to expand, offering companies like Nano Labs opportunities to enhance their financial portfolios and strategic positioning in the market.

According to ShibDaily, the U.S. Securities and Exchange Commission (SEC) has initiated legal action against Touzi Capital, LLC and its managing member, Eng Taing. The SEC accuses the investment firm of misleading over 1,200 investors by falsely claiming that their funds would be used for cryptocurrency mining operations. The lawsuit alleges that between 2021 and 2023, Touzi Capital conducted unregistered securities offerings, raising nearly $95 million from investors nationwide. Additionally, the SEC claims that the firm misused investor funds for Taing’s personal expenses. The complaint further states that Touzi Capital raised approximately $23 million for its debt rehabilitation business but improperly mixed these funds with those of its crypto asset mining and other unrelated ventures. The SEC also accuses the firm of misrepresenting the stability of the investments, falsely comparing them to high-yield money market accounts, while they were actually high-risk and illiquid. Despite the declining performance of these investments, Touzi Capital allegedly continued to solicit new investors. Taing and Touzi Capital face charges of violating the registration and antifraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC seeks permanent injunctions, disgorgement with prejudgment interest, civil penalties, and an officer and director ban against Taing. The SEC has faced criticism for its regulatory approach to the cryptocurrency industry, with critics arguing that the agency has focused more on enforcement actions rather than establishing clear rules. SEC Commissioner Hester Peirce, known as “Crypto Mom,” has expressed concerns about the Commission’s “regulation-by-enforcement” strategy, suggesting it creates uncertainty and stifles innovation. However, there are indications that the SEC might be moving towards a more crypto-friendly regulatory stance following the resignation of its former chair, Gary Gensler. Reports suggest that Paul Atkins, a former SEC commissioner known for his pro-innovation views, is being considered as a potential successor. Atkins, referred to as “Crypto Dad,” is recognized for his understanding of the cryptocurrency sector and advocacy for supportive policies. Additionally, with President-elect Donald Trump’s recent pro-crypto position, there is speculation that regulatory oversight of cryptocurrencies could shift from the SEC to the Commodity Futures Trading Commission (CFTC).

According to Onchain Lens, MicroStrategy acquired 15,400 BTC today for approximately US$1.5 billion, which means that MicroStrategy has been buying Bitcoin for four consecutive weeks.

MicroStrategy has purchased another 15,400 BTC for approximately $1.5 billion at an average price of $95,976 per bitcoin. source: https://www.theblock.co/post/328996/microstrategy-15400-bitcoin?utm_source=rss&utm_medium=rss

As large language models revolutionize content creation, the use of artificial intelligence will grow significantly, with global revenue in the field expected to grow from $30 million today to $70 billion to $150 billion by the end of this decade.

WisdomTree has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a spot XRP ETF. The post WisdomTree Files an S-1 Registration with SEC for XRP ETF appeared first on Cryptonews. source: https://cryptonews.com/news/wisdomtree-files-an-s-1-registration-with-sec-for-xrp-etf/

Crypto mining chip design company Nano Labs announced a Bitcoin purchase plan, planning to purchase and hold $50 million worth of Bitcoin over the next five years. Nano Labs said this strategic decision highlights the company's confidence in BTC as a long-term store of value and a fundamental asset in the rapidly developing Web 3.0 ecosystem. (PRNewswire)

MicroStrategy now holds more than 400,000 BTC source: https://u.today/microstrategy-buys-15-billion-worth-of-bitcoin

Artificial intelligence company Genius Group Limited (NYSE American: GNS) announced that it has increased its Bitcoin vault purchases by an additional $1.8 million to 172 Bitcoins, with a total value of $15.8 million, and an average net price of $92,006 per Bitcoin. The company announced its "Bitcoin First" strategy on November 12, pledging to hold 90% or more of its current and future reserves in Bitcoin, with an initial target of $120 million in Bitcoin, and has since purchased a total of $15.8 million worth of Bitcoin in three weeks. (Globenewswire)

Despite a promising start in 2019, China's digital yuan is facing significant obstacles to widespread adoption, including user wariness and intense competition from entrenched mobile payment services. The post China’s Digital Yuan Still Encounters Challenges in Adoption: Report appeared first on Cryptonews. source: https://cryptonews.com/news/chinas-digital-yuan-still-encounters-challenges-in-adoption-report/

A true paradigm revolution is by no means a pilgrimage of return as a convert to the old order, but a firm exploration of the new world beyond experience as a rebel.

With the bull market in hand, 2024 is an exciting year for Layer 1 (L1) blockchain.

Recommended readings tonight: 1. Can XRP still be bought after a 400% increase in a single month? 2. The risk of a dollar collapse is increasing. Is BTC, standing at a fiscal crossroads, a savior? 3. Ripple and XRP: Encryption policy drive and decentralization challenges;

For stablecoins pegged to the US dollar like USDC, MiCA stipulates that their issuers must obtain an Electronic Money Institution (EMI) license and ensure that the reserves of the stablecoin match its circulation.

BTC, Trump, Will the controversial "establishment of a BTC national reserve" become a reality? Golden Finance, A huge policy shift is about to take place at the regulatory level

AI-powered virtual pets are gaining popularity in China, driven by the demand for emotional support and low-maintenance companionship. These pets, like Cupboo and Moflin, offer interactive experiences with advanced AI that can remember past interactions, engage in conversations, and even assist with tasks, appealing to a wide range of consumers.

The meme market is booming, and a large number of stories about wealth survivor bias are flooding different channels. Pump.Fun is a microcosm of this "battle for attention".

This article will divide the current development of Web3 into three stages from the perspective of "core elements", revealing the core elements of each stage as the driving force, and how their innovation, iteration and integration drive the evolution of Web3.