- Binance will list Ordinals (ORDI) and add a seed tag to it; the Federal Supreme Court will hear Coinbase’s Dogecoin lottery case (11.8)

3 months ago
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Fed Vice Chairman: Central Bank Needs Stablecoin Power.

- Binance will list Ordinals (ORDI) and add a seed tag to it; the Federal Supreme Court will hear Coinbase’s Dogecoin lottery case (11.8)


Binance will list Ordinals (ORDI) and add a seed tag to it

According to the official announcement, Binance will list Ordinals (ORDI) at 18:00 on November 7 (Eastern Eighth District time), and open spot trading pairs ORDI/BTC, ORDI/USDT, and ORDI/TRY. Seed tags will apply to ORDI.

Federal Supreme Court to Hear Coinbase’s Dogecoin Sweepstakes Case

The federal Supreme Court has agreed to hear a case involving Coinbase’s million-dollar Dogecoin sweepstakes, which took place during Elon Musk’s re-promotion of the memecoin. Coinbase claims that, as stated in its user agreement, user disputes over the Dogecoin sweepstakes must be submitted to arbitration. A federal appeals court ruled to the contrary, saying the sweepstakes rules expressly provide California courts with jurisdiction over disputes.

A SCOTUS judge will decide whether Coinbase users’ cases against the exchange continue in arbitration or escalate to court.

FTX related events

FTX and Alameda moved 7 assets worth $38.5 million to the exchange about 6 hours ago

Spot On Chain monitoring shows that FTX and Alameda again transferred 7 assets worth US$38.5 million to the exchange about 6 hours ago, namely 750,000 SOL (approximately US$31.2 million), 325,501 ENS (approximately 2.76 million US dollars) USD), 10.1 million GMT (approximately USD 2.22 million), 642,702 LDO (approximately USD 1.26 million), 288,211 APE (approximately USD 410,000), 127,407 BADGER (approximately USD 365,000), 555,342 BNT (approximately $323,000).

Overall, FTX and Alameda have moved 36 assets worth $350 million to the exchange as of November 8.

Project News

Optimism will activate Canyon network upgrade on testnet on November 15th

Optimism announced that its first network upgrade after Bedrock, Canyon, will be activated on the test network (OP Goerli, OP Sepolia, Base Goerli, Base Sepolia, PGN Sepolia, Zora Sepolia) at 1:00 a.m. Beijing time on November 15th. This network upgrade was built and implemented in partnership with Base. In order to be activated on OP mainnet, Base and Superchain’s other mainnets, the Canyon hard fork still needs to go through the Optimism governance process.

The Canyon upgrade includes Shanghai and Capella hard fork support as well as some minor bug fixes. In addition to having access to the latest Ethereum mainnet features on all OP testnets, users should not be affected by this testnet upgrade. After the Canyon upgrade, node operators will need to upgrade their nodes.

Avail announces “Node Clash” incentive program

Avail, Polygon’s modular blockchain project, has announced the launch of a new gamified incentive program called “Node Clash” where participants can earn rewards for completing tasks. Avail said these tasks include validating the blockchain consistently and correctly, helping simulate disaster scenarios, writing and staking as many blocks as possible, and the goal is to encourage users and developers to test every angle and try Break the network by sending large amounts of data.

Pendle: The activity of using Pendle to receive ARB rewards will start on November 9th

Pendle officially issued a document on the X platform stating that starting from November 9, users only need to use Pendle to obtain additional ARB rewards and rebates. Specific content includes: only the Arbitrum mining pool is eligible to receive ARB rewards. By becoming or remaining an LP in any Arbitrum liquidity pool, you can receive additional ARB rewards; similar to the PENDLE incentive, the ARB pool allocation will be distributed weekly by vePENDLE The voting will be carried out every Thursday at 0:00 UTC time; performing the vePENDLE operation will increase the ARB reward.

Chainlink is now live on Scroll

Scroll tweeted that Chainlink is now live on Scroll, and Scroll developers can now access the high-quality data they need to build secure, scalable and advanced applications.

Mitsubishi UFJ Trust and six other companies plan to cooperate to issue Japanese yen and U.S. dollar stablecoins

Mitsubishi UFJ Trust Bank has cooperated with Web3 company Ginco and others to build an international payment system for crypto asset (virtual currency) companies that use stable coins, using the Progmat platform for issuance. And recently issued an official press release, the name of the Japanese yen-denominated stable currency is XJPY, and the name of the U.S. dollar-denominated stable currency is XUSD. Mitsubishi said that in the future, the two parties will cooperate to study the issuance of cross-industry stable coins, aiming to improve the efficiency of fund settlement between virtual currency transaction providers.

Ava Labs founder confirms layoffs of 12% to reallocate resources to promote the development of the company and Avalanche ecosystem

Emin Gün Sirer, founder and CEO of Ava Labs, posted on the

Previously, Ava Labs laid off a large number of employees on Monday, and multiple affected employees confirmed the news. The layoffs have already affected the companys communications and marketing teams. Ava Labs vice president of growth and strategy Garrison Yang said in a post on the X platform on Monday afternoon that the layoffs affected many people in the companys marketing department. Another laid off employee wrote that the layoffs also affected many other people.

DWF Labs: 174 projects disclosed in a study account for only 40% of the investment portfolio

Coin 98 Analytics released research results on the DWF Labs portfolio on the

DWF Labs co-founder Andrei Grachev responded: “That’s only 40% of our portfolio.”

BitMEX co-founder Samuel Reed pleads guilty to violating bank secrecy laws and agrees to pay $10 million fine

BitMEX co-founder Samuel Reed today pleaded guilty to violating the Bank Secrecy Act (BSA) by failing to establish, implement and maintain anti-money laundering (AML) procedures on BitMEX. He agreed to pay a separate criminal fine of $10 million, which represents the financial proceeds of crime, under the plea agreement.

Two other BitMEX founders, Arthur Hayes and Benjamin Delo, pleaded guilty to the same charge in February 2022.


U.S. Deputy Treasury Secretary: Biden administration hopes Congress will give more powers to crack down on illegal cryptocurrency activities

U.S. Treasury Undersecretary Wally Adeyemo said on Tuesday at the Securities Industry and Financial Markets Associations annual meeting in Washington that the Biden administration wants Congress to grant new powers to help combat illegal cryptocurrency practices. Adeyemo cited Hamass public pursuit of raising funds through cryptocurrencies, which has led to increased focus on the illicit financial uses of digital assets.

Adeyemo said the Treasury Department has been communicating with both Democrats and Republicans about actions they might take. Treasury will continue to take action and work with Parliament to urge the cryptocurrency industry to innovate responsibly.
Additionally, Adeyemo called on the crypto industry to self-regulate.

Fed Vice Chairman: Central Bank Needs Stablecoin Power

Michael Barr, the Fed’s vice chairman for supervision, said the central bank needs to regulate and enforce laws against stablecoin issuers, a debate over federal oversight that has been a major sticking point in the House debate over legislation.

“We need a strong federal framework,” he said at a D.C. FinTech Week event in Washington. They are creating a kind of private money, and private money needs to be well regulated.
Lawmakers have advanced a stablecoin bill through the House Financial Services Committee, winning some support from the panel’s minority Democrats. The oversight effort would still require a full House vote, though it could be attached to another must-pass spending bill.

Fed Barr: Fed has “strong interest” in regulating stablecoin issuers

Barr said the Fed is still weighing the prospect of launching a digital dollar. Private sector stablecoins can become private currencies, and the Federal Reserve has a “strong interest” in regulating stablecoin issuers.

Feds Kashkari: Doesnt think the interest rate hike cycle is over, prefers to tighten monetary policy

Feds Kashkari doesnt think rate hike cycle is over. Kashkari said in an interview that he would rather tighten monetary policy too much than do too little to bring inflation down to the Feds 2% target.

Insufficient tightening will not allow us to return to 2% inflation within a reasonable period of time, he said, adding that more information is needed to make firm decisions on future interest rate moves. I cant say we are in a good position yet. situation.

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