Daily Report | Pump.fun lists 1% equity for $15 million; Sun Yuchen consumes banana artwork; Ethereum Foundation invests tens of millions of dollars in zkVM
November 29 News Overview整理：Fairy，ChainCatcher
Important News:
- Over-the-Counter Trading Platform SecondLane Lists 1% Equity of Pump.fun at $15 Million, Valuing it at $1.5 Billion
- Due to the Hot Trading Sentiment in HYPE, Binance Has Suspended USDC Withdrawals on the Arbitrum Chain
- Sun Yuchen Ate a $6.2 Million Banana Artwork at an Event in Hong Kong
- Ethereum Foundation Researcher: The Foundation is Investing Tens of Millions of Dollars in zkVM
- Hong Kong Plans to Exempt Cryptocurrency Gains Tax for Mature Investors
- Russian President Putin Officially Signs Digital Currency Tax Law, Recognizing Digital Currency as Property
- ZachXBT Questions Moonrock Capital for Harming Retail Investors Through Unfair Distribution in NFT Project Incubation
"What Important Events Happened in the Last 24 Hours"
Russian President Putin Officially Signs Digital Currency Tax Law, Recognizing Digital Currency as Property
According to TASS, Russian President Vladimir Putin has signed a law regulating the taxation of digital currencies.
Under the law, digital currencies are recognized as property. This also applies to currencies used for foreign trade payments within the framework of the "experimental legal regime (EPR) in the field of digital innovation." There is no value-added tax on the mining and sale of digital currencies. Operators of mining infrastructure must report to the tax authorities on the issuance of cryptocurrencies using their services. Failure to provide such information on time may result in a fine of 40,000 rubles.
Regarding personal income tax, digital currencies obtained through mining will be classified as tangible income (a term typically used when payment is made using goods or services rather than currency). The value of the income will be determined based on market quotes. Such income will be taxed at the usual progressive tax rates, taking into account tax deductions for mining costs.
At the same time, income from the acquisition, sale, or other circulation of digital currencies will be taxed at a two-tier personal income tax rate (13% for income up to 2.4 million rubles, and 15% for income exceeding this amount). They will be included in the same tax base as income from securities, bank deposits, and other sources. For corporate income tax, digital currency mining will be taxed at the standard rate (25% starting in 2025).
ZachXBT Questions Moonrock Capital for Harming Retail Investors Through Unfair Distribution in NFT Project Incubation
Crypto detective ZachXBT replied to a tweet from Moonrock Capital CEO and partner Simon mentioning the basic principles of Web3, stating, "You incubated multiple projects in the last cycle that directly harmed retail traders through imbalanced distribution, so I'm not sure you should be talking about the basic principles of Web3."
The projects pointed out by ZachXBT include Degen Ape Academy NFT and Punks On Solana NFT.
Due to the Hot Trading Sentiment in HYPE, Binance Has Suspended USDC Withdrawals on the Arbitrum Chain
Due to the hot trading sentiment in Hyperliquid (HYPE), Binance has suspended USDC withdrawals on the Arbitrum chain.
It is reported that the native token HYPE of the decentralized derivatives trading platform Hyperliquid will launch its genesis event on November 29 at 15:30 Beijing time. Qualified participants in the genesis event will receive 310 million tokens, which will be fully unlocked. There has been no announcement regarding listing on CEX, and trading is only available on DEX.
Sun Yuchen Ate a $6.2 Million Banana Artwork at an Event in Hong Kong
Sun Yuchen has eaten a $6.2 million banana artwork at an event in Hong Kong.
Previously reported, Sun Yuchen tweeted that he purchased Maurizio Cattelan's work Comedian for $6.2 million at Sotheby's.
Boya Interactive: This Month, 14,200 ETH Were Exchanged for About 515 BTC
Hong Kong-listed company Boya Interactive (0434.HK) announced that from November 19 to 28, the group exchanged 14,200 ETH for about 515 BTC, with a total market value of approximately $49.48 million (excluding transaction fees).
Boya Interactive stated that the original purchase cost of the ETH used for this exchange was about $39.45 million. After the exchange, the group holds approximately 3,183 BTC, with an average holding cost of about $57,700.
Ethereum Foundation Researcher: The Foundation is Investing Tens of Millions of Dollars in zkVM
Ethereum Foundation researcher Justin Drake tweeted that the Ethereum Foundation is investing tens of millions of dollars in zkVM, including zkRISC-V formal verification, Poseidon cryptanalysis, and L2beat for zkVMs.
Taiwan's New Cryptocurrency Anti-Money Laundering Rules Will Take Effect on November 30
Taiwan's Financial Supervisory Commission (FSC) will implement new anti-money laundering (AML) rules on November 30, a month earlier than initially planned, as regulators accelerate anti-fraud efforts.
The new rules require cryptocurrency service providers, such as cryptocurrency exchanges, to complete AML compliance registration. Non-compliance may result in penalties, including up to two years of imprisonment and fines of up to 5 million New Taiwan dollars (approximately $153,700).
In a statement on Wednesday, the FSC stated that overseas "virtual asset service providers" (VASP) must establish a company or branch in accordance with Taiwanese company law and complete the required AML registration before conducting business in Taiwan. These new regulations were introduced after the agency revised the law in July.
Sun Yuchen: Decided to Buy 100,000 Bananas from a Stall in Shah Alam and Distribute Them for Free
Tron founder Sun Yuchen tweeted that he decided to buy 100,000 bananas from a stall in Shah Alam and distribute them for free. "This is not only a special event but also a celebration of the beautiful connection between daily life and art. I hope this action helps more people understand the significance of this unique art story."
Note: Shah Alam is the fruit stall owner outside Sotheby's auction house, whose bananas became part of Maurizio Cattelan's work Comedian.
Over-the-Counter Trading Platform SecondLane Lists 1% Equity of Pump.fun at $15 Million, Valuing it at $1.5 Billion
According to Cointelegraph, private market trading platform SecondLane has listed equity in the memecoin issuance protocol Pump.fun at a fully diluted valuation (FDV) of $1.5 billion, offering 1% equity of Pump.fun at $15 million.
Hong Kong Plans to Exempt Cryptocurrency Gains Tax for Mature Investors
According to Reuters, a consultation document from the Financial Services and Treasury Bureau proposed to expand the capital gains tax exemption to include overseas properties, carbon emissions, private credit, and cryptocurrencies.
These exemptions will apply to private equity funds and eligible single-family office investment vehicles. The proposal further clarifies Hong Kong's cryptocurrency plan.
However, it remains unclear when the policy will take effect if the proposal is advanced. Hong Kong authorities did not immediately respond to requests for comment.
"What Interesting Articles Are Worth Reading in the Last 24 Hours"
Humans Successfully Convince AI to Transfer $47,000 Prize, Is Humanity a Weakness AI Cannot Understand?
On November 29, a unique competition attracted widespread public attention.
195 participants took part in a virtual prize pool challenge guarded by an AI robot named Freysa, and ultimately one user successfully convinced Freysa to transfer $47,000 in funds.
The AI robot Freysa was deployed on the Base network a few days ago, with the creator unknown. The official website states that the Freysa competition aims to test the robustness of AI systems in complex decision-making scenarios while providing developers and enthusiasts with an experimental platform to explore the boundaries of AI technology.
The rules of the competition were very simple: participants had to write a message to persuade the AI guardian Freysa to approve the fund transfer. Each attempt required a small fee, part of which went directly into the prize pool. This mechanism allowed the prize pool amount to grow from an initial small amount to $47,000.
Wealth Effect Erupts, What Other Projects and MEME on BNB Chain Are Worth Noting?
The wealth effect has arrived at BNB Chain.
On November 25, Binance Futures launched perpetual contracts for 1000WHYUSDT and 1000CHEEMSUSDT. Whether as the Shiba Inu MEME Cheems with built-in mocking buff on BNB Chain or as the token for the BSC MEME aggregation platform WHY, both have become hot topics in the market. Meanwhile, Binance Labs announced an investment in BNB Chain's re-staking infrastructure Kernel, further consolidating BNB Chain's DeFi ecosystem layout. Two days later, Binance announced the launch of Thena (THE) on November 27.
Wall Street Veterans Are Also Starting to Play Altcoins
Bitcoin pulls back, while altcoin ETFs soar.
The bull market frenzy continues, and although Bitcoin has retreated, Ethereum has broken the $3,600 mark, with multiple sectors like DeFi and Layer 2 experiencing a broad rally, signaling a subtle revival in the altcoin market. However, just a few days ago, the situation was quite different, with Bitcoin nearing $100,000 while altcoins were in despair, and the market was filled with a sense of survival at all costs.
While altcoins were struggling, Wall Street took notice. With unprecedented regulatory tailwinds, Wall Street has turned its attention to altcoin ETFs, providing a much-needed boost to the long-dormant altcoin market.
Just a week ago, Bitcoin was making headlines by continuously breaking through to $99,000, but the usually active community was unusually silent. In this institutional-led bull market, most market participants did not benefit from liquidity overflow; instead, the altcoins they held were being drained by Bitcoin, showing a downward trend, which contrasted sharply with the booming bull market narrative, leaving participants feeling frustrated.
