Daily Report | Andre Cronje: Coinbase has repeatedly requested listing fees and is willing to disclose all evidence for public verification; Alibaba is scaling back its metaverse business operations, laying off dozens of employees
November 4th News OverviewOrganizer: Luan Peng, ChainCatcher
Important News:
- Poll: Harris's approval rating drops to tie with Trump
- Andre Cronje: Coinbase has repeatedly requested listing fees and is willing to disclose all evidence for public verification
- Beijing Artificial Intelligence Industry Investment Fund and others invest in Zhiyu AI
- Monetary Authority of Singapore: Plans to open wholesale CBDC testnet SGD Testnet to eligible financial institutions like Standard Chartered and DBS
- Taiwan's "Financial Supervisory Commission" will strengthen the review of cryptocurrency listings on exchanges in new rules to be implemented in January 2025
- Alibaba is scaling back its metaverse business operations, laying off dozens of employees
- Sun Yuchen: Coinbase demanded a listing fee of 500 million TRX, while Binance charged $0
- The Federal Reserve's November interest rate decision will be announced this Friday at 3:00 AM
"What important events have occurred in the past 24 hours"
Poll: Harris's approval rating drops to tie with Trump
A poll by the New York Post shows that both Trump and Harris have an approval rating of 49%. Compared to previous polls, Harris's approval rating has dropped by 2%.
Andre Cronje, co-founder of Sonic Labs, expressed his views on the recent controversy regarding "listing fees" from exchanges. He stated, "Binance did not charge us a listing fee, but Coinbase has repeatedly requested fees, quoting $300 million, $50 million, $30 million, and the most recent quote was $60 million."
Some supporters of Coinbase responded that Andre might have contacted fake Coinbase listing workers and questioned Sonic Labs' background investigation.
Andre responded again, saying, "I did not sign a non-disclosure agreement, so I am very willing to provide relevant evidence (the quotes came from multiple employees/departments at Coinbase, proposed over the years via email, Telegram, and Slack). It can be stated for sure that Coinbase can argue that this is not a listing fee but other fees, but it will still translate into the listing cost for the project. I know Coinbase may legally make some cuts, but I am happy to disclose all evidence and let the public verify."
Beijing Artificial Intelligence Industry Investment Fund and others invest in Zhiyu AI
According to Tianyancha App, recently, a business change occurred in Beijing Zhiyu Huazhang Technology Co., Ltd., a related company of Zhiyu AI, adding the Beijing Artificial Intelligence Industry Investment Fund (Limited Partnership), Shenzhen Merchants Shuke Innovation Private Equity Investment Fund Partnership (Limited Partnership), and Hubei Yangtze River Zhongxin Technology Mobile Communication Technology Industry Investment Fund Partnership (Limited Partnership) as shareholders, while the registered capital increased from approximately 27.91 million RMB to approximately 31.07 million RMB.
According to official news, the Monetary Authority of Singapore announced plans to promote regulated and trusted tokenized forms of currency as common settlement assets to reduce settlement risks and market fragmentation. It is currently facilitating financial institutions to obtain common settlement assets, including the Singapore dollar wholesale central bank digital currency (CBDC). The initial test network SGD Testnet includes features such as settlement tools, programmability, and interoperability.
The test network SGD Testnet will be open to eligible financial institutions in Project Guardian and Project Orchid, with the first batch of participating financial institutions including DBS Bank, OCBC Bank, Standard Chartered Bank, and UOB, with use cases including payments and securities settlement.
Huang Xi and the head of the Financial Supervisory Commission of Taiwan stated at a fintech conference in Taipei on Monday that the commission will require "virtual asset service providers" to complete compliance registration, with new rules taking effect in January 2025. Non-compliance may lead to criminal penalties, including up to two years of imprisonment.
Mr. Huang stated that with the new rules imminent, regulators aim to strengthen reviews in key areas, including fiat currency custody, information security, customer complaint handling procedures, record keeping, and information disclosure. He pointed out that there will be stricter reviews of the listing and delisting of crypto assets. Cryptocurrency exchanges must establish clear procedures for listing and delisting crypto assets and take measures to prevent unfair trading and detect abnormal prices and trading volumes.
In addition to introducing new compliance registration rules, the Financial Supervisory Commission is also drafting special legal proposals specifically targeting crypto assets. The chairman of the commission, Peng Jinlong, stated today at a forum that the regulatory body is making progress and plans to submit the legal proposal to Taiwan's highest administrative authority, the Executive Yuan, in June 2025.
Alibaba is scaling back its metaverse business operations, laying off dozens of employees
According to Cointelegraph, Chinese e-commerce giant Alibaba is scaling back its metaverse business operations, with dozens of employees in its metaverse department laid off. The metaverse department has operations in both Shanghai and Hangzhou and was established in 2021.
It is reported that the metaverse department previously received "tens of billions of RMB" in investment and employed hundreds of staff. The department will continue to exist, providing metaverse applications, tools, and services.
Sun Yuchen: Coinbase demanded a listing fee of 500 million TRX, while Binance charged $0
Sun Yuchen, founder of TRON, expressed his views on the recent controversy regarding "listing fees" from exchanges, stating on X, "Binance charged $0. Coinbase demanded we pay 500 million TRX (worth $80 million) and required a deposit of $250 million in BTC at Coinbase Custody to improve their performance."
The Federal Reserve's November interest rate decision will be announced this Friday at 3:00 AM
The Federal Reserve's November interest rate decision will be announced this Friday at 3:00 AM, with approximately 3 days and 10 hours remaining until the next FOMC meeting.
According to CME's "FedWatch," the probability of the Federal Reserve lowering rates by 25 basis points in November is 99.8%, while the probability of maintaining the current rate is 0.2%.
Data: Nearly 80% of Ethereum addresses are in profit, holding a total of 59.08 million ETH
According to data from IntoTheBlock, at the current price level of ETH at $2458.51, approximately 79.92% of addresses are in profit, holding a total of 59.08 million ETH. The specific data shows:
- Profitable addresses (In the Money): holding 59.08 million ETH, accounting for 79.92%;
- Losing addresses (Out of the Money): holding 14.62 million ETH, accounting for 19.77%;
- Break-even addresses (At the Money): holding 225.65 thousand ETH, accounting for 0.31%;
Based on this data, analysts pointed out several key price ranges:
- Support range: $2087-$2311, this range has the highest density of profitable addresses and may provide strong support during pullbacks.
- Resistance range: $2459-$2531, the first resistance area above the current price, where many investors are close to breakeven.
- Strong resistance range: $2531-$2827, this range sees an increase in losing addresses, which may face significant selling pressure.
In terms of investment strategy, analysts suggest that short-term investors consider buying in the support range of $2087-$2311 and consider taking profits when the price breaks above $2459 and approaches $2531. Medium to long-term investors may view $2087 as a solid support level for positioning, and if the price breaks above $2531, they can continue to monitor up to $2827.
Analysts emphasize that although most investors are in profit, this also means the market may face profit-taking pressure. Investors should closely monitor the aforementioned key price ranges and adjust their strategies in response to market changes.
Zhao Changpeng responded to Sun Yuchen on X, stating, "Thank you for your support, this is recognition from someone operating two competing exchanges. We should strive to reduce such 'quote attacks' in the industry. Bitcoin has never paid any listing fees. Focus on the project, not the exchange."
Previously reported, Sun Yuchen stated that Binance never asked him for a listing fee, but Coinbase demanded he pay 500 million TRX and required a deposit of $250 million in BTC custody.
Binance to launch PONKEUSDT perpetual contract, supporting 75x leverage
According to the official announcement, Binance will launch the PONKEUSDT perpetual contract on November 4, 2024, at 20:30 (UTC+8), supporting up to 75x leverage.
"What excellent articles are worth reading in the past 24 hours"
This is the second article, exploring the unique advantages of blockchain technology in payments and assessing the current state of crypto payments. The final article will analyze emerging trends and revolutionary possibilities.
Polymarket Predicts Market 2024 "Presidential Dilemma": What will happen if Trump loses?
If, according to market rules, Trump is reported by @AP, @Foxnews, and @NBCNews to have lost the election, I predict that @Polymarket's U.S. presidential election market will experience two "controversies," and retail investors may suffer losses due to chasing the possibility of market outcome reversals.
In other words, if the market determines that Trump has lost, it may experience two controversies, and retail traders may go all in, hoping the market can overturn the controversial result. Please refer to this.
But remember, you are not Tom Brady… If Trump loses, I believe the holders of TRUMPYES will not give up easily, even more tenaciously than the supporters of HARRISYES. However, rules are rules, and @Polymarket reminds everyone what the consequences will be if this happens.
Monad Co-founder to Peers: You shouldn't easily give away advisor shares
Last month, L1D partner 0xLouisT wrote about the widespread issue of insider token allocation in the industry, mentioning that investors often gain extra tokens through advisory services. He had witnessed an institution's advisor shares being five times that of its investor shares, which could reduce the institution's actual costs by 80% compared to official financing and valuation data.
The topic of insider token allocation sparked widespread discussion in the market. Last weekend, Monad co-founder Keone Hon shared his personal views on the role of advisors, believing that founders do not need to give away advisor shares for free.
The 2024 U.S. election is approaching the "final battle." Who will take over the White House? Is it the historic first female president Harris, or the returning Trump? The arrow is on the string, and the outcome is uncertain.
Notably, cryptocurrencies have quietly become the "new battlefield" in this election. Trump's statements frequently affect Bitcoin's price fluctuations, while Musk, who has deep ties to Dogecoin, also supports Trump's campaign. Bitcoin and the virtual asset market seem to be bound to this "political-business alliance." Currently, Bitcoin's price fluctuates around $70,000, and whether Trump's election prospects can become the "starting gun" for Bitcoin's breakout is a question.
The market has already begun to bet on Trump's victory, and this expectation has shown signs in multiple areas, with the U.S. stock market, U.S. bonds, precious metals, and cryptocurrency markets all exhibiting clear characteristics of a "Trump rally." In the past month, Bitcoin's trend has shown a high degree of synchronization with Trump's election odds, and the direction of the election in the seven swing states will become a key factor influencing the market.
From Wall Street to Silicon Valley, from traditional finance to digital currency, traders are deploying their investment strategies based on this expectation. However, political elections are always full of uncertainties, and any "unexpected" event could lead to significant market volatility. Investors need to prepare for various possible scenarios.
Is Coinbase under "attack"? Unraveling the unresolved mystery of exchange listing fees
On November 3, Coinbase CEO Brian Armstrong retweeted a complaint from Simon, CEO of blockchain consulting investment firm Moonrock Capital, about the high listing fees of centralized exchanges, stating, "Listing on Coinbase is free, and you can leave a message on Asset Hub for help. Also, yes, DEX listing is also a good option (we provide corresponding support in our products)."
This statement stirred up a storm, with many industry figures expressing differing opinions. Some believe his attitude is sincere, while others think he is talking nonsense. Odaily Planet Daily will provide a brief analysis of the mystery of exchange listing fees in this article.
