Today's news tips:
1. Coinbase tops the App Store free financial apps list, while Robinhood and Crypto.com rank among the top ten
2. Macro outlook for next week: Investors will continue to focus on Trump’s transition plan, and the Fed’s rate cut expectations may continue to be frustrated
3. DEXX wrote to hackers: If the funds are returned within 24 hours, there will be no responsibility, otherwise it intends to cooperate with the police to take law enforcement action
4. SlowMist Cosine: Currently collected 821 pieces of stolen information of DEXX users, with a total loss of nearly 20 million US dollars
5. A trader made more than $1.6 million in profits on RIF and URO in 20 days, with a return rate of 1,473 times
6. MicroStrategy's $26 billion Bitcoin reserves exceed IBM and Nike's cash reserves
7. This week’s NFT transaction volume was US$179.48 million, up 90.74% from the previous month
Regulation & Policy
The Republican Party's three-game winning streak in the White House and both houses of Congress this week has added fuel to the "Trump deal", but at the same time, strong US economic and inflation data continue to reshape market expectations of the speed and extent of the Fed's interest rate cuts. This week, as economic data such as US retail sales exceeded expectations, traders increased their bets on the Fed's suspension of interest rate cuts in December, and the market generally showed a hawkish reaction. US stocks fell collectively, with the S&P 500 index falling 2.08% for the week, the Nasdaq index falling 3.15%, the largest single-week drop in more than two months, and the Dow Jones Industrial Average falling 1.24%. As the list of Trump's cabinet members was released one after another, there were earthquakes of varying degrees in parts of Wall Street.
Thanks to the prospect of a more cautious rate cut by the Federal Reserve under Trump, the U.S. dollar index has risen for seven consecutive weeks, once reaching the 107 mark. Next week, the market focus will include speeches by central bank officials and important data such as the number of initial jobless claims in the United States. The key points to focus on include:
At 12:45 on Monday, Bank of Japan Governor Kazuo Ueda will give a speech;
At 18:00 on Tuesday, the final annual CPI value of the euro area in October and the initial monthly CPI value of the euro area in October will be released;
At 21:00 on Thursday, the number of initial jobless claims in the United States for the week ending November 16 and the Philadelphia Fed Manufacturing Index for November;
At 1:25 on Friday, 2025 FOMC voting member and Chicago Fed President Goolsbee participated in a question-and-answer session at a conference;
At 7:30 on Friday, Japan's October core CPI annual rate;
At 16:30 on Friday, ECB President Lagarde will speak at the European Banking Conference;
At 22:45 on Friday, the final values of the US S&P Global Manufacturing PMI and the US S&P Global Services PMI for November will be released;
At 23:00 on Friday, the preliminary value of the US one-year inflation rate forecast for November and the preliminary value of the US University of Michigan Consumer Confidence Index for November will be released.
Next week's economic calendar is light again, and if data confirms the resilience of the US economy again, gold prices may be more depressed against the backdrop of further cooling expectations of Fed rate cuts. In addition, after the rally driven by the US election stalled, US stock investors turned their attention to technology stocks and artificial intelligence trading. Nvidia will report earnings next Wednesday, which will also be its first earnings report after being included in the Dow Jones Industrial Average. Investors will continue to focus on Trump's transition plan, including his choices for key cabinet positions. Some of his initial appointees have led to weakness in sectors such as pharmaceuticals and defense stocks. Thursday's stock market fell after Powell said that the Fed was not in a hurry to cut interest rates, so the direction of monetary policy may once again become the dominant factor in the market. US stocks have erased half of their gains since the election.
Archegos founder Bill Hwang may be sentenced to 21 years in prison
According to Wall Street Journal, Bill Hwang, the founder of Archegos, the "protagonist of the century's big liquidation", may be sentenced to 21 years in prison. In a document submitted to U.S. District Judge Alvin Hellerstein on Friday, prosecutors stated that Bill Hwang, 60, should be sentenced to a long prison term because he led one of the largest securities fraud schemes in history, causing billions of dollars in losses. Alvin Hellerstein will sentence the Archegos founder on November 20. Bill Hwang was found guilty of fraud and other charges by a jury on July 10. Prosecutors accused him of manipulating the market before Archegos collapsed in 2021. He was found guilty of 10 of the 11 charges he faced. Patrick Halligan, the former Archegos chief financial officer who was tried at the same time as him, was also found guilty of three counts, including extortion and fraud.
Public information shows that Bill Hwang is Korean and once worked as a stock analyst at Tiger Fund founded by Julian Robertson. In 2021, Archegos suffered a margin call due to unfavorable market conditions caused by the use of a large number of highly leveraged derivatives to evade reporting obligations. The incident caused an uproar throughout Wall Street and attracted regulatory scrutiny on three continents, causing global banks to lose up to US$10 billion, including US$5.5 billion to Credit Suisse (now UBS Group) and US$2.9 billion to Nomura Holdings, and caused shareholder losses of approximately US$100 billion. The incident was called "the largest single-day loss in history" and "the margin call of the century."
Project News
DEXX published a post on the X platform to announce the progress of the attack:
1. The team has communicated with law enforcement agencies in many places to file a case;
2. Hope to communicate with hackers;
3. The SlowMist team has been connected to conduct a statistical investigation of all users’ damaged funds and the flow of hacker funds;
4. We are discussing follow-up solutions for users.
Santiment: XRP breaks 3-year high thanks to whale wallets holding 1 million to 100 million XRP
Santiment said on the X platform that XRP has now broken through a 3-year high, reaching $1.2679 on Binance for the first time since November 11, 2021. The rally was helped by major whale wallets holding between 1 million and 100 million tokens. In the past week alone, this group has accumulated a total of 453.3 million tokens (worth $526.3 million). At the same time, the tokens they have accumulated mainly come from retail traders who try to sell tokens when XRP sees a small rise. Last week, wallets holding less than 1 million XRP sold a total of 75.7 million tokens (worth $87.9 million). Historically, when cryptocurrency traders increase their holdings and confidence, their market capitalization tends to see positive growth, while retail FUD further drives this growth. This is exactly the scenario that XRP is showing.
Jupiter Lianchuang meow: LFG will resume in February next year
Jupiter co-founder meow said in X that it was confirmed that LFG will resume after Catstanbul in February next year.
DEXX sent a letter to the hacker on the X platform, saying that it has received strong support from security agencies, partners and exchanges to find the stolen tokens. At the same time, it is continuing to monitor the hacker's address in order to freeze the stolen funds in time. It now requires that this incident be resolved within the next 24 hours, otherwise no further action will be taken.
DEXX said that it requires the hacker to contact it via email and return the stolen funds, and will provide a bug bounty and token gifts. Once the funds are returned, all information currently held about the hacker will be destroyed immediately, all subsequent tracking and analysis will be stopped, and the hacker will no longer be held responsible. However, if the hacker does not comply with this agreement, DEXX will continue to cooperate with local police, security agencies and exchanges to investigate and take law enforcement actions to protect user assets, no matter how long it takes.
Yu Xian, the founder of SlowMist, said on the X platform that as of now, 821 stolen information related to DEXX users have been analyzed, with a total loss of nearly 20 million US dollars, of which 1 user lost more than 1 million US dollars, 2 users lost between 500,000 and 1 million US dollars, and 28 users lost between 100,000 and 500,000 US dollars.
DEXX founder: No contact, the team will synchronize some information and plans in the near future
DEXX founder Roy responded to the doubts about the loss of connection on the X platform, saying: "For special reasons, we cannot synchronize the latest situation at present. Give us some more time to deal with it to your satisfaction. The team will synchronize some information and solutions in the next two days. It is not a question of whether the connection is lost or not. It is that we are bombarded with information and cannot read it at all. We need to concentrate on solving the problem. The version circulated on the Internet is outrageous. I really don't want to respond or read it. I have been only solving the problem for more than a day."
According to Onchain Lens, Pump.fun's total revenue has exceeded $200 million. More than 56% of Solana tokens come from Pump.fun. In the past 24 hours, 35,570 tokens have been issued, of which 642 have entered DEX. A total of 3,377,402 tokens have been issued on Pump.fun.
Important data
This week’s NFT transaction volume was US$179.48 million, up 90.74% from the previous month.
According to News.bitcoin, NFT transactions totaled $179.48 million this week, up 90.74% from the previous week. Ethereum NFTs led the 21 blockchains, with $67.72 million in transactions in seven days, up 126.79% from last week. Bitcoin NFTs ranked second with $59.96 million in transactions, up 129.22% from the previous week. Solana-based digital collectibles ranked third with $24.39 million in transactions, up 91.85% from the previous week. The Blast blockchain achieved a 256.30% increase in the past week, but the total transaction volume was only $718,850.
Coinbase tops App Store free financial apps list, Robinhood and Crypto.com rank in top 10
According to Decrypt, Coinbase has jumped from 26th on Election Day to 1st in the free finance category of Apple's iOS device app store. The increase in ranking coincides with a significant increase in the exchange's trading volume. According to Coingecko data, the exchange's trading volume exceeded $12 billion on November 12, setting a record for the highest trading volume this year. Robinhood and Crypto.com followed Coinbase and jumped into the top 10 in the same category.
MicroStrategy's $26 billion Bitcoin reserve exceeds IBM, Nike's cash reserves
According to Bloomberg data, MicroStrategy holds about $26 billion in Bitcoin reserves, which exceeds the cash and securities of global market leaders such as International Business Machines Corporation (IBM), Nike and Johnson & Johnson, and is second only to Apple and Alphabet. MicroStrategy plans to raise $42 billion to invest in Bitcoin in the next three years.
According to Lookonchain monitoring, a trader's wallet grew from $1,100 to $1.62 million in just 20 days, with a return rate of 1,473 times. 20 days ago, the trader spent 4.35 SOL ($768) to buy 16.44 million URO and exchanged all Meme coins for URO. He currently holds 16.78 million URO, worth $572,000, and the cost is only $800. 16 days ago, he also spent 1.8 SOL ($300) to buy 11.84 million RIF, and sold 1 million RIF for 94,335 USDC after RIF broke through the $100 million market value today, leaving 10.84 million RIF ($957,000). He made a profit of $1.05 million (3,503 times) on RIF and $571,000 (714 times) on URO.
A trader sold 59 million FARTCOIN at a loss, missing out on more than $18.4 million in profits
According to Onchain Lens, as FARTCOIN reached its all-time high, a trader bought 59 million FARTCOIN at 19.8 SOL ($3,000), but sold them at only 7.16 SOL ($1,100), losing $1,900. But these FARTCOIN are now worth more than $18.42 million.
According to the monitoring of on-chain analyst Ember, the Polygon team address is a multi-signature address of the signer, and 50 million POL was distributed and transferred to 6 addresses 32 hours ago. These 50 million POL (US$21.45 million) have all entered Binance through these 6 addresses in the past 2 hours.
