Justin Sun's $500M WBTC Redemption Raises Questions

️ On today's Top Picks:

Crypto News

• ⭐️ Justin Sun's HTX redeems ~$500m of Wrapped Bitcoin $WBTC despite having none on its proof-of-reserves.

• MicroStrategy acquires 55.5k Bitcoin $BTC for ~$5.4b.

• ⭐️ Pump[.]fun pauses live streaming functionality indefinitely.

• WisdomTree $WT registers to launch $XRP ETF.

• Avalanche $AVAX launches Avalanche9000 upgrade on Fuji Testnet.

• Cantor Fitzgerald to acquire ~5% ownership interest in Tether.

• Justin Sun invests $30m in World Liberty Financial $WLFI.

• Aptos Labs $APT adds former Grayscale CEO Michael Sonnenshein & OpenAI CPO Kevin Weil to advisory board.

• Sky Mavis $RON $AXS lays off 21% (~50 employees) of workforce.

• Huobi's HECO Network to retire on January 15th, 2025.

• Digital Assets $BTC $ETH $SOL saw record $3.13b of net inflows last week.

Alpha

• Weekly Airdrop Updates by Earndrop.

• AI & DePin Airdrop Strategy by Earndrop.

• Babylon to launch Bitcoin Staking Phase-1 Cap-3 on December 10th.

• Blockscout launches Swapscout Campaign until December 9th.

• Kana Labs launches Perpetual Futures Testnet

• Mind Network launches MindV Hubs; earn $vFHE rewards.

• Towns teases, "December is going to be huge for Towns..." on X.

Airdrops

• ⭐️ Movement unveils $MOVE; 10% allocated for initial claims.

• ⭐️ WalletConnect to launch $WCT Airdrop tomorrow on November 26th.

• Zircuit enables $ZRC transferability; launches Season 2 airdrop.

• Plena launches $PLENA Airdrop eligibility & allocation checker.

• SynFutures unveils $F; 7.5% allocated for airdrop.

• Side Protocol to launch $SIDE Genesis Drop registration on November 26th.

• Superform Labs launches $PIGGY Airdrop; Superform users eligible.

Finance News

• Bitdeer $BTDR to raise up to $400m through convertible notes.

• US CBP holds imports of BITMAIN Antminer ASICs at ports of entry.

• Singapore Gulf Bank to raise $50m & acquire a stablecoin payments company.

• Hong Kong's ZA Bank launches crypto trading services.

• TD Bank $TD to hire US government-ordered compliance monitors.

• Beijing State-owned Asset Management to sell 33% stake in UBS Securities for ~$207m.

• US Federal Judge rejects SEC request to sanction Elon Musk $TSLA.

• Intel's $INTC $8.5b CHIPS funding lowered to less than $8b.

• Intel $INTC to sell & leaseback 150-acre California campus.

Security and Exploits

• North Korea-linked Sapphire Sleet threat group steals more than $10m of crypto over six months.

• Immunefi & Ethereum Foundation launch Ethereum Protocol Attackathon.

• Revoke[.]cash adds support for Geist Network.

• Trend Micro uncovers malware used by Salt Typhoon hackers.

• ICYMI Scammers poison AI training data with malicious crypto code.

Token Unlocks

• Cardano $ADA / ~$18m / NOV 26th
• EigenLayer $EIGEN / ~$4m / NOV 26th
• ApeX $APEX / ~$18m / NOV 27th
• Ethena $ENA / ~$8m / NOV 27th
• Yield Guild Games $YGG / ~$9m / NOV 27th
Sourced from Tokenomist

Funding

• ⭐️ Kernel raises an undisclosed amount in Strategic funding from Binance Labs.

• OpenTrade raises $4m in Seed extension funding led by AlbionVC.

• Qoomon raises an undisclosed amount in Pre-Seed funding led by Paper Ventures.

• OceansGallerie raises an undisclosed amount in Strategic funding from Adaverse.

• Tren Finance raises an undisclosed amount in Seed funding.

The Degen Farmer