📢 Yesterday (November 11) the crypto space saw a lot of information! Policies and institutional movements were frequent, and multiple projects made new progress. Let's look at the highlights:
⚖️ Policy and Institutional Dynamics
· The U.S. Senate Agriculture Committee released a draft for crypto regulation, aiming to grant the CFTC new powers to regulate digital commodities. The IRS issued new guidelines, providing a clear path for crypto ETP staking.
· The Central Bank of Brazil issued new regulations for virtual assets, formally establishing the legal framework for "virtual asset service companies," effective February 2026. Additionally, the Central Bank of Brazil has prohibited the trading of algorithm-based stablecoins.
· In terms of institutional holdings, Nasdaq-listed company Strive increased its holdings by 1,567 BTC, bringing its total holdings to 7,525 BTC. BitMine increased its holdings by 110,301 ETH last week.
· In the traditional financial sector, Santander Bank's digital bank Openbank launched cryptocurrency trading services in Spain.
🚀 Project and Ecosystem Progress
· Uniswap: A governance proposal to activate the protocol fee switch and implement the UNI burn mechanism has propelled the UNI price to rise over 38% in the past 24 hours.
· Several projects have key updates: Chainlink's first quarter incentive program launched on November 11; Injective's (INJ) Altria upgrade is expected to occur on November 11; Starknet (STRK) v0.14.1 upgrade will go live on the testnet on November 11.
· The Cardano Summit 2025 will be held in Berlin on November 12.
· Be aware of unlocking risks: Solayer (LAYER) and Aptos (APT) have token unlocks on November 11, while peaq (PEAQ) will unlock on November 12.
💡 Other Noteworthy Points
· Tether Treasury minted an additional 1 billion USDT on the Ethereum network.
· Square's Bitcoin payment feature is officially live, allowing merchants to choose between Bitcoin or fiat currency settlement.
· Coinbase launched a savings account in the UK offering a 3.75% annual interest rate, backed by FSCS.
· In the meme coin sector, the meme coin FARTCOIN on the Solana chain experienced severe volatility, with over $7.8 million liquidated across the network in one hour.
💬 Interaction Time:
Which news from yesterday’s market surprised you the most? What movements do you think might affect the subsequent market trends?
