ChainCatcher news, renowned Silicon Valley angel investor Naval Ravikant posted on X, "The transition to a decentralized financial system takes time. In terms of market capitalization, we are currently less than 5% of the target."Naval is a well-known angel investor in Silicon Valley, having invested in famous tech companies like Twitter and Uber. He is also a successful entrepreneur, having founded the equity crowdfunding platform AngelList, and is the author of the famous book "The Almanack of Naval Ravikant."

ChainCatcher news, Jonathan Miller, Managing Director of the cryptocurrency exchange Kraken, stated that Bitcoin's breakthrough of the psychological barrier of $100,000 marks its transition from a fringe technology to a recognized asset.Kraken's Chief Strategy Officer Thomas Pefermo said, "The rebound of the crypto market after the U.S. elections indicates the suppressed demand that was previously held back by uncertainty and the lack of a crypto vision in the U.S. Coupled with the positive macroeconomic outlook for financial assets by 2025, cryptocurrencies are in a very favorable position. The rapid growth of exchange-traded products like Bitcoin ETFs, along with new institutional investors entering the market, are all reasons to be optimistic about cryptocurrencies, creating a mature environment for new highs."

ChainCatcher news, the governor of the Bank of Korea stated that a transition period may occur in the coming months, making it difficult to assess the direction of the political situation. He does not believe that turmoil will force the central bank to cut interest rates further.

ChainCatcher news, EDX Markets announced the promotion of its Chief Technology Officer (CTO) Tony Acuña-Rohter to Chief Executive Officer (CEO), with founder and former CEO Jamil Nazarali transitioning to Executive Chairman.EDX Markets Chairman Peng Zhao stated, "Jamil's leadership and vision have been crucial in shaping EDX into the preferred digital asset trading platform for leading financial institutions worldwide."Acuña-Rohter has previously worked at CME Group and ErisX, and he will have a significant impact on the upcoming Asian perpetual futures platform.

ChainCatcher news, according to TechCrunch, Musk's lawyers have filed for a preliminary injunction against OpenAI, several of its co-founders, and its investors and close partner Microsoft to prevent OpenAI and other designated defendants from engaging in anti-competitive behavior. Musk is one of the co-founders of OpenAI and left the company in 2018 due to disagreements over its direction.The motion for the injunction was submitted late Friday in the U.S. District Court for the Northern District of California, accusing OpenAI, its CEO Sam Altman, President Greg Brockman, Microsoft, LinkedIn co-founder and former OpenAI board member Reid Hoffman, and former OpenAI board member and Microsoft Vice President Dee Templeton of engaging in various illegal activities and seeking to stop these activities. The allegations include:Preventing investors from supporting OpenAI's competitors, such as Musk's own AI company xAI;Benefiting from "improperly obtained competitive sensitive information" through the relationship between OpenAI and Microsoft;Transforming OpenAI's governance structure into a for-profit entity and "transferring any significant assets, including intellectual property owned, held, or controlled by OpenAI, its subsidiaries, or affiliates";Causing OpenAI to conduct business with organizations that have "significant economic interests" in any of the defendants.Musk's lawyers claim that if the injunction is not granted, it will result in "irreparable harm."

ChainCatcher news, Ethereum Foundation researcher Justin Drake published a paper revealing details related to the BeamSNARKs algorithm. BeamSNARKs is an enhanced ZK algorithm that allows provers to demonstrate the truth of a statement to verifiers without revealing underlying data and without requiring interaction.For Ethereum, the BeamSNARKs developed by Moonchain represents a transformative advancement in two key areas: privacy and scalability. In terms of privacy, BeamSNARKs enable the verification of transactions or computations without exposing sensitive data, thereby supporting use cases such as confidential transactions and private smart contracts.It is reported that Beam Chain is an indispensable consensus layer improvement for the Ethereum 3.0 era. This is a proposal to redesign Ethereum announced by Justin Drake at DevCon. Ethereum is expected to take several years to transition completely from the PoS era to the ZK era, at which point Ethereum itself will be fully equipped with ZK capabilities.

ChainCatcher news, the Russian Ministry of Industry has called for a postponement of the launch of digital ruble payments, emphasizing insufficient infrastructure readiness. The ministry expressed concerns about the challenges businesses may face in meeting the 2025 deadline, which requires large retailers to accept central bank digital currency (CBDC) payments. The ministry believes that a hasty transition due to inadequate preparation could harm business operations.The draft law requires large retailers to adopt digital ruble payments by July 2025, while the deadline for small businesses will be later, depending on their annual revenue.The Ministry suggested postponing this by two years to allow businesses enough time to complete operational guidelines, update software, and train employees.

ChainCatcher news, on November 26 local time, U.S. President-elect Trump reached a necessary agreement with current President Biden's administration to allow Trump's transition team to coordinate with existing federal staff before his inauguration on January 20.According to the congressionally authorized agreement, the transition team's staff can collaborate with federal agencies and access non-public information, while government staff are also allowed to communicate with the transition team.However, Trump refused to sign another agreement with the General Services Administration (GSA). This agreement would have allowed his team to use government-secured office spaces and email accounts, but it required the president-elect to limit donations to $5,000 and publicly disclose the names of those who contributed to his transition efforts. (Jin Shi)

ChainCatcher News, President Biden delivered a national address on Thursday local time, stating that he will work to ensure a smooth transition from the current administration to the incoming Donald Trump administration."Yesterday, I spoke with President-elect Trump to congratulate him on his victory, and I assured him that I have instructed the entire government to cooperate with his team to ensure a peaceful and orderly transition. This is what the American people deserve." He added that he hopes Trump's recent victory in the 2024 presidential election will dispel his doubts about the validity of the 2020 election. "I also hope we can address the issues regarding the fairness of the American electoral system. It is honest, fair, transparent, and trustworthy, regardless of winning or losing," Biden stated.

ChainCatcher news, according to The Block, has reported that Vinay Gupta, a technical expert who helped coordinate the launch of Ethereum, is seeking to promote rational cryptocurrency policies to the transition team of elected President Donald Trump.Additionally, inspired in part by Trump's overwhelming victory on Election Day, Gupta is considering relocating himself and his team from the blockchain company Mattereum in the UK to the United States. He added, "We plan to move personnel (including myself) to Washington, D.C. soon to assist with the cryptocurrency transformation in America."Vinay Gupta stated that part of his plan includes replicating some of the policies he helped formulate in the UK, including a recently proposed parliamentary bill that attempts to formally define crypto assets as property, as well as successfully advocating for the country to recognize smart contracts as "actual contracts."

ChainCatcher news, according to Jinshi reports, on November 6 local time, the campaign team of Republican presidential candidate Trump, who had previously announced victory in the 2024 U.S. presidential election, stated that Trump has accepted the invitation from current President Biden to meet at the White House to discuss the presidential power transition. The specific date of the meeting has not yet been announced, but a spokesperson for Trump's campaign team stated that the meeting "will take place very soon" and noted that Trump "greatly appreciates" the congratulatory call from Biden on the 6th.

ChainCatcher news, according to on-chain data analyst @ai_9684xtpa's monitoring, Flow Traders has transferred back 52 billion PEPE from the intermediary address 0x01c after five months, worth 4.73 million USD.The receiving address has been frequently trading PEPE since seven months ago, with the most recent transaction occurring two weeks ago, at the peak of the short-term price of PEPE. Currently, the received funds have not been transferred or deposited into a trading platform.

ChainCatcher news, according to TheBlock, the Bank for International Settlements report emphasizes that major financial institutions are trialing tokenized deposits to improve settlement efficiency and programmability. However, the transition from traditional finance to tokenization may pose risks, including potential governance and legal framework issues, as well as credit, liquidity, custody, and operational risks. These challenges may differ from those faced by traditional market infrastructure, thus requiring a comprehensive assessment by central banks.Of course, tokenization also has many benefits, including reduced transaction costs and faster transaction speeds. Governance, legal, and liquidity risks are the key concerns of central banks regarding tokenized assets.

ChainCatcher news reports that, according to sources, Harris's transition team is reviewing candidates to succeed Gary Gensler as the Chair of the U.S. Securities and Exchange Commission (SEC).Unchained has learned that there are two potential successors: Georgetown University law professor Chris Brummer and Public Company Accounting Oversight Board (PCAOB) Chair Erica Williams, who are said to have a more favorable view of cryptocurrency than Gensler.Vice President Harris has not publicly or privately committed to replacing Gensler, and it is unclear whether she is seriously considering Brummer, Williams, or other candidates. Currently, Harris's team is more focused on campaigning, as she has just become a candidate and has other policy issues to prioritize.A spokesperson for Harris's transition team stated, "The transition team will not make any personnel appointments before the election. Instead, we are focused on building the necessary infrastructure to be prepared."

ChainCatcher news, according to Cointelegraph, the EU will transition from national laws regarding Crypto Asset Service Providers (CASP) to the Markets in Crypto-Assets Regulation (MiCA) by December 30. The Cyprus Securities and Exchange Commission (CySEC) is providing a model for this transition by freezing CASP applications and warning market participants of the upcoming changes.Starting from October 17 (the date of the announcement), CySEC will no longer accept CASP applications submitted under Cyprus national law. CASPs that successfully registered under national law before the December 30 deadline will be able to operate in that jurisdiction until July 1, 2026, unless authorized or denied authorization under Article 63 of MiCA before then. Once the MiCA regulations come into effect, CASPs will be subject to the Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) of the European Commission.These standards have not yet been published, but CySEC advises relevant parties to refer to the draft Technical Standards published by the European Securities and Markets Authority (ESMA) during this period. On October 30, CySEC will stop accepting notifications of intent from EEA entities to provide services in Cyprus under Cyprus national rules; entities that submit notifications before this date will be able to operate under the same conditions as local entities until July 1, 2026.

ChainCatcher news, Starknet posted on the X platform stating that while the first phase of staking has gone live on Starknet Sepolia, it must be emphasized that this is just the beginning of a broader plan to transform Starknet into a fully decentralized PoS network. The vision for this transition is as follows:Phase 1: Introduction of a permissionless staking protocol and staking delegation, with validators expected to run a full node in preparation for the next phase.Phase 2: Validators will begin to prove blocks, signing blocks when randomly selected to do so.Phase 3: Validators will verify and vote on blocks ordered by the sequencer, with consensus proving to L1.Phase 4: Validators will take full responsibility for maintaining and securing the network by generating, proving, and validating blocks.This phased approach allows Starknet to cautiously roll out staking and make adjustments over time to meet the evolving needs of the community. Furthermore, the four phases outlined above are not a rigid or static plan and may change based on observations made during the process.

ChainCatcher message, WBTC has completed its transition to a geographically distributed custody structure. According to the cooperation agreement between BitGo and BiT Global, the control of the underlying Bitcoin will now be shared among Singapore, Hong Kong, and the United States.The new custody structure uses a multi-signature protocol, requiring two signatures to approve any transaction and transfer funds from the wallet. After successfully transitioning to multi-jurisdictional custody, BiT Global issued the following statement: "With a diversified jurisdiction that includes the United States, Hong Kong, and Singapore, we ensure that no single jurisdiction/entity controls the custody of WBTC assets."

ChainCatcher news, Startale CEO Sota Watanabe posted on X: "Since the announcement of the transition from Astar zkEVM to Soneium, one of the most common questions is about the future direction of Astar and the role of the ASTR token. This transition represents the first phase of Astar Evolution. The second phase has already been determined by the Astar Foundation, and we are entering the execution phase."Currently, the team is considering several potential development directions and hopes to discuss these with the community, including ASTR as an ecosystem asset; ASTR as a DeFi asset; ASTR as currency in consumer applications with AA; and ASTR for enhancing the security of Soneium infrastructure, etc.