<ul>
<li>FTX co-founder Gary Wang has been sentenced by a U.S. judge to avoid imprisonment.</li>
<li>The Trump team is considering establishing the White House's first cryptocurrency position, possibly titled "Crypto Czar." </li>
<li>South Korean financial regulators have refused to approve ETFs investing in cryptocurrency companies.</li>
<li>Phantom ranks among the top five free apps in the U.S. App Store, with the tools category securing the top position.</li>
<li>Bitwise has applied to register a Solana-related ETF in the state of Delaware, USA.</li>
<li>Coinbase will launch FLOKI based on the Ethereum network.</li>
<li>U.S. public companies Hoth Therapeutics and Acurx Pharmaceuticals' boards have approved the purchase of $1 million in Bitcoin as reserve assets.</li>
<li>MicroStrategy has increased the issuance size of its zero-coupon convertible senior notes to $2.6 billion, with part of the net proceeds allocated for Bitcoin purchases.</li>
<li>DWF Labs has launched a $20 million "Meme Fund" to support innovative meme coin projects.</li>
<li>DCG has established a new subsidiary, Yuma, aimed at supporting and promoting the development of the Bittensor network.</li>
<li>Justin Sun acquired Cattelan's iconic work "Comedian" for $6.2 million.</li>
<li>NVIDIA announced Q3 financial results: revenue reached $35.1 billion, with a net profit of $19.31 billion.</li>
<li>The crypto entertainment platform Monkey Tilt has completed a $30 million Series A financing round, led by Pantera Capital.</li>
<li>U.S. Bitcoin spot ETFs saw a total net inflow of $837 million yesterday, with an ETF net asset ratio of 5.38%.</li>
<li>MicroStrategy's Bitcoin holdings currently have an unrealized profit exceeding $14.7 billion.</li>
<li>21Shares has improved its Ethereum ETP by introducing a staking feature, and the trading code has changed to "ETHC." </li>
<li>Stripe has launched a feature for B2B payments through stablecoins.</li>
</ul>

FTX co-founder Gary Wang spared from prison by US judge
According to Tree News citing Reuters, Gary Wang, the former deputy of Sam Bankman-Fried (SBF), has been spared from prison by a US judge due to his role in the FTX cryptocurrency fraud case.

Trump team considers establishing first White House cryptocurrency position
According to Bloomberg, the team of US President-elect Donald Trump is in discussions with the digital asset industry about the establishment of a White House position specifically responsible for cryptocurrency policy. Sources familiar with the matter indicate that this would be the first White House position focused on cryptocurrency, and candidate selection is currently underway. It remains uncertain whether this position will be a senior role or be referred to as the "crypto czar," but industry advocates hope that the role will report directly to Trump. Additionally, Trump had promised during his campaign to fire current SEC Chairman Gary Gensler, ease regulations on the crypto industry, and establish a presidential advisory committee on cryptocurrency. The competition for candidates for this committee is currently fierce.

Reportedly, former Coinbase and Binance.US executive Brian Brooks met with Coinbase CEO Brian Armstrong and Trump this week to discuss relevant matters. This position may serve as a liaison between Congress, the White House, and federal agencies such as the SEC and CFTC. Further personnel discussions are taking place at Trump's private club Mar-a-Lago.

South Korean financial regulators refuse to approve ETFs investing in crypto companies
According to reports from Korean Economic TV, South Korean financial regulators have not only prohibited the issuance of cryptocurrency ETFs for spot and futures products, but they have also rejected funds investing in crypto companies, including exchanges. A head of an asset management company stated that their proposal to establish a fund investing in crypto companies was rejected by the country’s Financial Supervisory Service (FSS).

He mentioned that his company is preparing to launch an ETF focused on the US crypto exchange Coinbase and similar companies, but is still waiting for local regulatory approval. Meanwhile, an FSS official acknowledged the growing demand for Bitcoin investments but stated that unless the government’s current policies change, regulations will not be relaxed.

Phantom ranks in the top five free apps in the US App Store, first in the tools category
The Solana ecosystem crypto wallet Phantom ranks fifth in the free app chart of the US App Store. It ranks first in the tools category.

Bitwise applies to register Solana-related ETF in Delaware
Bitwise has submitted documents to the Delaware Secretary of State to apply for registration of its first Solana-related ETF.

Coinbase to list FLOKI based on the Ethereum network
According to an official announcement from Coinbase, Coinbase will be listing FLOKI, which is based on the Ethereum network (ERC-20 standard). Trading is set to begin at 1 AM Beijing time on November 22 (9 AM PT on November 21) or thereafter.

US-listed company Hoth Therapeutics board approves purchase of $1 million in Bitcoin as reserve asset
The board of directors of US-listed company Acurx Pharmaceuticals has approved the purchase of $1 million in Bitcoin as a reserve asset.

MicroStrategy increases zero-coupon convertible senior note issuance to $2.6 billion, part of net proceeds to be used for Bitcoin purchases
According to an announcement on MicroStrategy's official website, MicroStrategy has announced the pricing of its zero-coupon convertible senior notes maturing in 2029, with a total principal of $2.6 billion, an increase from the previously announced $1.75 billion note issuance. This issuance is expected to be completed by November 21, 2024, subject to customary closing conditions.

The initial conversion rate of the notes is 1,000 dollars in principal convertible into 1.4872 shares of MicroStrategy Class A common stock, equivalent to an initial conversion price of approximately $672.40 per share. The initial conversion price represents a premium of about 55% over the volume-weighted average price of MicroStrategy Class A common stock during the period from 1:30 PM to 4:00 PM Eastern Time on November 19, 2024 (approximately $433.7997). The conversion rate will be adjusted based on the occurrence of certain events.

MicroStrategy estimates that the net proceeds from the sale of these notes, after deducting the discounts and commissions for the initial purchasers and estimated issuance costs payable by MicroStrategy, will be approximately $2.58 billion (or about $2.97 billion if the initial purchasers fully exercise their option to purchase additional notes). MicroStrategy intends to use the net proceeds from this issuance to purchase more Bitcoin and for general corporate purposes.

DWF Labs launches $20 million "Meme Fund" to support innovative Meme coin projects
According to Finance Feeds, DWF Labs has announced the launch of a $20 million "Meme Fund" to support innovative Meme coin projects across multiple blockchains. The "Meme Fund" is now accepting proposals from Meme coin projects seeking investment and guidance.

DCG establishes new subsidiary Yuma to support and promote the development of the Bittensor network
Digital Currency Group (DCG) has announced the establishment of a new subsidiary, Yuma, aimed at supporting and promoting the development of the Bittensor network. DCG founder and CEO Barry Silbert will also serve as CEO of Yuma, further advancing DCG's integration in the fields of cryptocurrency and artificial intelligence. Yuma will provide capital, infrastructure, and technical support to startups and large enterprises to help them develop and deploy innovative projects on the Bittensor network.Sun Yuchen purchased Cattelan's iconic work "Comedian" for $6.20 million
Sun Yuchen, the founder of TRON, announced that he successfully purchased Maurizio Cattelan's iconic work "Comedian" for $6.20 million. Sun stated that this piece is a cultural phenomenon that connects art, internet culture, and the crypto community, and he believes it will inspire more discussions and become a part of history. He also plans to personally eat the banana in the coming days as part of a unique artistic experience, paying tribute to its significant position in art history and popular culture.

NVIDIA announces Q3 financial report: Revenue reaches $35.10 billion, net profit of $19.31 billion
NVIDIA (NVDA.O) announced its financial report for the third quarter of fiscal year 2025, with revenue reaching $35.10 billion, a year-on-year increase of 94%, exceeding market expectations of $33 billion; net profit was $19.31 billion, far exceeding the expected $16.93 billion. Additionally, revenue from the gaming business in the third quarter was $3.30 billion, and revenue from the data center business was $30.80 billion, a year-on-year increase of 112%.

NVIDIA expects fourth-quarter revenue to be $37.50 billion, slightly above market expectations, but some investors' expectations were not met, causing the stock price to drop by 5% in after-hours trading following the report release. CEO Jensen Huang stated that artificial intelligence is driving global computing demand growth, and production of the Blackwell system is ramping up, with expected deliveries in the fourth quarter exceeding expectations. The company anticipates gross margins will exceed 70% by 2025. Nonetheless, some analysts believe there is uncertainty regarding its revenue outlook, especially amid demand for Blackwell exceeding supply.

Crypto entertainment platform Monkey Tilt completes $30 million Series A financing, led by Pantera Capital
According to a report by PR Newswire, the crypto entertainment platform Monkey Tilt announced the completion of a $30 million Series A financing round, which concluded this summer, led by Pantera Capital, with participation from Polychain Capital, PokerGo, Hack VC, Dream Ventures, Accomplice, Mirana, and Josh Hannah. This latest financing brings the total raised to over $50 million.

Monkey Tilt is set to launch in early 2024, combining prediction games, sports, poker, and cryptocurrency on one platform. Monkey Tilt plans to release a new gamified cryptocurrency trading product in the first quarter of next year.

$837 million net inflow into US Bitcoin spot ETF yesterday, ETF net asset ratio reaches 5.38%
MicroStrategy's Bitcoin holdings currently have an unrealized profit exceeding $14.70 billion
21Shares enhances its Ethereum ETP by introducing staking features, with trading code changed to "ETHC"
According to Beincrypto, asset management company 21Shares announced significant improvements to its Ethereum Core ETP, now including staking features. With this upgrade, the product has been renamed to Ethereum Core Staking ETP to better reflect its expanded functionality. The revamped product has a trading code of ETHC and can be traded on major European exchanges, including the Swiss Exchange, Deutsche Börse Xetra, and Euronext Amsterdam.

The company stated that this move aims to make Ethereum staking more accessible to institutional and retail investors across Europe. It offers a novel way to earn returns from Ethereum's staking mechanism while maintaining a low-cost structure. The Ethereum Core Staking ETP is physically backed by Ethereum, with a management fee of 0.21%.

Stripe launches B2B payment functionality via stablecoins
Patrick Collison, CEO of the American payment giant Stripe, announced on the X platform that Stripe has launched a feature for B2B payments using stablecoins. A Stripe employee @BackseatVC explained that users can now create and send invoices payable with available stablecoins on Stripe; one of the strongest feature requests from users when Stripe launched the "Pay with Crypto" feature last month was to improve the B2B payment experience; with the support of the invoicing feature, this demand has now been met.

Previously, Stripe launched the "Pay with Crypto" feature in the US, supporting stablecoins including USDC and USDP.

Important Information from Last Night and This Morning (November 20 - November 21)