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This document also systematically discloses a large amount of important details such as legal pricing, token release schedule, market-making arrangements, and risk warnings.
The specific disposition of this large amount of Bitcoin will be decided early next year.
Quick Take Bitcoin fell near $103,000 on Tuesday, driven primarily by investor profit-taking and macroeconomic uncertainties. Hopes for a December interest rate cut have dwindled following a report detailing growing internal conflict among Federal Reserve officials over the decision.
With institutions stepping in and volatility cooling down, bitcoin is entering a smoother and more mature cycle.
The Oracle of Omaha has written his final letter. What he and Charlie Munger have left for the crypto world is a "negative timeline" spanning a decade.
The Atlas upgrade marks the first time that L2 can directly rely on Ethereum as a real-time liquidity hub, representing not only a technical advancement but also a reshaping of the ecosystem landscape.
- 09:25Analyst: SoftBank's complete sale of Nvidia was not due to a negative outlookChainCatcher reported that SoftBank announced on Tuesday that it has fully divested from Nvidia and is further investing in OpenAI. Rolf Bulk, an analyst at New Street Research, stated, "I don't think SoftBank has a negative view on Nvidia. Their position in Nvidia was large, highly liquid, and easy to cash out. SoftBank may believe that reallocating funds to OpenAI offers greater benefits."
- 09:25Sonic Labs launches fee monetization system to drive native token into deflationary mechanismChainCatcher reported that Sonic Labs CEO Mitchell Demeter has announced the launch of a new Fee Monetization (FeeM) system to implement a deflationary model for its native token S. This system establishes a tiered reward mechanism for ecosystem builders, with reward ratios ranging from 15% to 90% depending on network usage. Validators will receive a fixed 10% share of transaction fees, while the remaining portion will be burned. Transaction fees on the Sonic chain are paid in S tokens. Demeter stated that this move aims to incentivize both developers and validators while strengthening long-term value through token burning. He pointed out, "Our goal is to increase deflationary strength and reinforce long-term value alignment." The system will be officially implemented through on-chain governance voting. In addition, Demeter revealed that Sonic is about to enter a "new phase," including a US expansion plan approved by governance, as well as the introduction of certain Ethereum Improvement Proposals (EIP) and proprietary Sonic Improvement Proposals (SIP) to enhance developer usability and interoperability.
- 09:08Phantom CEO: The company has no intention of launching its own blockchain or pursuing an IPOOn November 12, according to the Empire podcast, Phantom wallet CEO Brandon Millman stated that the company has no intention of launching its own blockchain or pursuing an IPO. The current focus remains on the Solana ecosystem and products aimed at mainstream users. He said that building a proprietary chain goes against the principles of openness and composability in the crypto industry, and Phantom will continue to deepen its involvement in Solana. Brandon also mentioned that although the company has the potential to go public, it prefers to rely on support from investors such as a16z, Paradigm, and Sequoia, and to continue expanding through private fundraising.