ChainCatcher news, FTX Trading Ltd. and its affiliated debtors announced that FTX is nearing the completion of the final prerequisites for the court-approved bankruptcy reorganization plan, paving the way for FTX to begin distributing compensation to creditors and customers. The effectiveness of the bankruptcy reorganization plan means that the court-approved reorganization plan officially begins implementation. This typically marks a critical step in the bankruptcy process, where the bankrupt company has reached agreements with creditors and other stakeholders and is prepared to proceed with actual debt repayment and asset distribution according to the plan.FTX provided the following update regarding the expected distribution timeline:In early December, the debtors expect to finalize arrangements with professional distribution agents who will assist FTX in distributing compensation to global customers within supported jurisdictions. At that time, the debtors will provide instructions to guide customers in establishing approved accounts on the existing customer portal.By the end of December, the debtors expect to announce the exact effective date after the court order approving the disputed claims reserve amount, which is a prerequisite for distribution according to the confirmation order.The debtors currently anticipate that the bankruptcy reorganization plan will become effective in early January 2025. According to the confirmation order, the first distributions will occur within 60 days after the effective date, targeting convenience class creditors allowed to claim under the plan. The record date for the initial distribution will be the same as the effective date.

ChainCatcher news, the on-chain trading terminal DEXX has released an update regarding the recent security incident: "DEXX has officially filed a lawsuit, and the SlowMist team is actively assisting law enforcement with the follow-up investigation. At the same time, DEXX is actively discussing a compensation plan. Regarding compensation, the platform makes the following solemn statement:If all assets can be recovered, DEXX will immediately provide full compensation to ensure that users' interests are not affected.If only part of the assets can be recovered, the platform will still fulfill its compensation responsibilities; the specific compensation plan will be determined based on the amount recovered. DEXX is currently mobilizing all resources and efforts to recover the stolen assets and resolve the issue as soon as possible."Previous news, according to SlowMist statistics, the DEXX incident has confirmed over 900 victims, with total losses estimated at 21 million USD.

According to ChainCatcher news, HopeLend has officially launched the full compensation process for users affected by the previous hacking incident, fulfilling its commitment to users.Affected users need to fill out the repayment application form. The Hopelend team will verify whether the address provided by the user is the debt address under the Lend protocol. Once verification is complete, the transfer will be made directly, and users will not need to take any action.Compensation will be settled in a currency-based manner, with all HOPE native tokens converted to BTC / ETH / USDT / USDC based on the original minting ratio. HOPE native tokens will be paid in the aforementioned currencies according to the original minting ratio.The deadline for filling out the form is within 3 months; late submissions will not be accepted. After the compensation is completed, the Hopelend protocol will be officially closed to ensure future transparency and accountability.

ChainCatcher news, Satoshi Action Fund CEO Dennis Porter posted on social media that the organization has made its Bitcoin strategic reserve policy model public, which is now available for download.It is reported that the "Bitcoin Rights" bill passed by the Pennsylvania House of Representatives on October 25 was drafted by the Bitcoin advocacy organization Satoshi Action Fund, and is the latest initiative to help legislators understand the nuances of blockchain technology and Bitcoin.

ChainCatcher message, MN Trading founder Michaël van de Poppe posted on platform X: "I am still satisfied with the decision to go all-in on altcoins. This topic has sparked a lot of criticism and feedback, which is good. Everyone has different strategies. I am investing in these assets for the long term, some of which have not yet yielded returns. My argument has not changed."

ChainCatcher news, Trump nominates Satoshi ActionFund co-founder Dennis Porter as the head of Bitcoin Strategic Reserve.

ChainCatcher news, according to NBC News reports, two insiders revealed that since Election Day, Musk has been frequently appearing at Trump's home in Palm Beach, Florida—Mar-a-Lago, where he has been almost constantly with Trump, participating in calls and meetings. He continuously expresses his views on Trump's second term, even crossing some boundaries with Trump's transition team, giving the impression of "staying too long."These two insiders indicated that Musk's frequent appearances have begun to irritate some members of Trump's inner circle, who entered Trump's circle earlier than Musk and feel that he is overstepping during the transition. One of the individuals stated, "He acts like a 'co-president' and spares no effort to let everyone know it. He has been taking credit for Trump's victory, boasting about America PAC and X to anyone willing to listen, trying to make Trump feel indebted to him, while Trump never owes anyone a favor."Insiders revealed that some of Trump's advisors are concerned that Musk does not understand that a key to functioning in Trump's world is to maintain a low profile, and Musk's involvement is too aggressive, which could undermine his position in the long run. The second insider also stated that Musk seems to be pushing his own agenda rather than focusing on Trump's agenda.

ChainCatcher news, according to NBC News, two insiders revealed that since Election Day, Musk has been frequently appearing at Trump's Mar-a-Lago estate in Palm Beach, Florida, where he has been almost constantly with Trump, participating in calls and meetings. He continuously expresses his views on Trump's second term, even crossing some boundaries of Trump's transition team, giving the impression that he seems to be "staying longer than necessary."These two insiders indicated that Musk's frequent appearances have begun to irritate some members of Trump's inner circle, who entered Trump's circle earlier than Musk and feel that he is overstepping during the transition. One of the individuals stated, "He acts like a 'co-president' and spares no effort to let everyone know it. He has been taking credit for Trump's victory, boasting about America PAC and X to anyone willing to listen, trying to make Trump feel indebted to him, while Trump owes no one any favors."Insiders revealed that some of Trump's advisors are concerned that Musk does not understand that a key to functioning in Trump's world is to maintain a low profile, and Musk's involvement is too aggressive, which could harm his standing in the long run. The second insider also noted that Musk seems to be pushing his own agenda rather than focusing on Trump's agenda.

ChainCatcher news, according to Trader T's monitoring, the total holdings of Bitcoin ETFs worldwide have now surpassed the holdings of Satoshi Nakamoto's wallet address.

ChainCatcher news, according to Bitcoin.com News, Satoshi Action Fund founder Dennis Porter stated that several countries have contacted him, hoping he would draft regulations to establish strategic Bitcoin reserves.Porter pointed out that he has received calls from 5 different countries regarding the issue of Bitcoin strategic reserves. He emphasized, "Now, the success we have achieved through legislation in the United States can be exported around the world."It is reported that Porter has worked with state and national legislators in the United States and has supported several states in enacting the "Blockchain Basic Act." The Satoshi Action Fund is an organization that helps legislators formulate and implement Bitcoin policies.

ChainCatcher news, Bloomberg senior ETF analyst Eric Balchunas posted on social media, "Bitcoin ETF saw a net inflow of $1.4 billion yesterday, setting a new historical high (influenced by the 'Trump effect').Among them, IBIT had an inflow of $1.1 billion in a single day. The total inflow over the past month reached $6.7 billion, and year-to-date inflows have reached $25.5 billion. Approximately 18,000 bitcoins were bought in a single day (compared to 450 bitcoins mined that day), and the total holdings of U.S. Bitcoin spot ETFs have now reached over 93% of the 1.1 million bitcoins held by Satoshi Nakamoto."

ChainCatcher message, UniSat announced on social media that before the end of Round 1, UniSat will purchase 200,000 FB from the open market to fund liquidity pool rewards for future rounds on PizzaSwap.These FB will be stored in a public treasury address. Starting from Round 4, liquidity pool rewards will be distributed from this public treasury. Rewards for Rounds 1 to 3 will still be issued from Fractal community grants.

ChainCatcher News: U.S. President Biden stated that he had a conversation with Trump and assured him that the government would work with Trump's team. (Jin Shi)

ChainCatcher news, former Heartland Tri-State Bank CEO Shan Hanes was sentenced to 293 months in prison for embezzling $47 million in a "pig butchering" scheme.The ruling stated that Hanes relinquished ownership of the funds in the Ethereum address managed by Tether Limited. Tether blacklisted the address and froze its transaction permissions to protect investors' rights.Judge John W. Broomes confirmed that all shareholders will receive full compensation. Meanwhile, the Federal Deposit Insurance Corporation (FDIC) also provided full protection for the bank's depositors.

ChainCatcher news reports that, according to insiders, Vice President Harris will appear on Saturday Night Live, taking the risk of appearing on a live comedy sketch show just days before the election, in an attempt to engage voters through a nationally influential platform.For presidential candidates or any celebrities without performance experience, going on live television is a gamble, but previous candidates have taken the risk, including Trump and Hillary Clinton in 2015, as well as Obama in 2007.However, very few do so in the final days of a campaign. One of the show's most popular recurring features is having actors portray the president and presidential candidates.

ChainCatcher news reports that, according to the Digital Fiat Currency Research Society, Lu Lei, the Deputy Governor of the People's Bank of China, stated in the preface he wrote for "Monetary Theory" that if central banks can issue currency without limits, then currency is likely to be replaced by other general equivalents—such as digital assets and stablecoins, which are currently experiencing a volatile upward trend in market value. Will this really happen? As someone who has been engaged in research at the central bank for a long time, my instinctive thought is that the urgent issue facing major developed economies is "saving the central bank from the hands of central bankers." Although this idea is by no means the current central bank digital currency (CBDC), as I believe CBDC does not change the institutional implications of monetary increment, is there a digital currency that can overcome the impact of various digital assets, achieve the effects of stablecoins, and maintain the existence of sovereign currency (solving the issue of monetary unity but fiscal decentralization in the euro)?The increasing expense of specific assets (such as digital assets) leads them to their opposite, lacking the liquidity necessary to serve as a general equivalent (i.e., being collected rather than circulated, which is the fate of precious metals exiting currency).In the field of monetary economics prediction and practice, there are two highly respected figures— the recently deceased Robert Mundell and the still unknown Satoshi Nakamoto. The former maintained throughout his life that exchange is a redundant transaction cost concept, experienced the practice of the single currency area theory in the Eurozone, but has not and finds it difficult to realize the utopia of dollarization. The latter has watched helplessly as the Bitcoin he created has evolved into an extremely expensive digital asset; currently, the energy consumed globally each year to mine the last 2 million coins is enough for over a hundred million people to use for more than a year. According to the marginal cost pricing method, the closer Bitcoin gets to being an asset, the further it is from being widely circulated as currency.Currently, digital assets are following the old path of the gold standard, and the concept of stablecoins is merely a "soft version" of the optimal currency area theory's practical proposal; our ideas are not necessarily more brilliant than the White Plan of 1945. It is merely that in the digital age, old wine is being relabeled.