Morning Report | Ethereum rose 0.1% in the past 24 hours; the U.S. Department of the Treasury cut off MEXC Global's access to the U.S. financial system
November 7 Market Important Events OverviewCompiled by: ChainCatcher
Data from the Past 24 Hours
Bitcoin is currently priced at $75,868, with a 0% increase over the past 24 hours, a high of $76,250, and a low of $75,571. Ethereum is currently priced at $2,240.24, with a 0.1% increase over the past 24 hours, a high of $2,251.54, and a low of $2,223.15. The current Crypto Fear and Greed Index is at 26, indicating fear, down 1 point from the previous reading.
Important Events in the Past 24 Hours
1. U.S. Treasury Cuts MEXC Global's Access to the U.S. Financial System
The U.S. Treasury announced that as part of the "Economic Exile Action," FinCEN issued an order against the cryptocurrency exchange MEXC Global under Section 9714(a) of the Anti-Money Laundering Act of Russia, prohibiting U.S. financial institutions from conducting any fund transfers with it, thereby cutting off its access to the U.S. financial system. The Treasury noted that MEXC Global facilitated at least $16 billion in transactions related to sanctions evasion and cybercrime involving Iran, North Korea, and Russia between May 2021 and May 2026.
2. Democrats Control Congress, Political Advantage for Crypto Industry Diminishes
Bloomberg reported that with the Democrats' significant victory in the midterm elections and control of Congress, the political advantage for the cryptocurrency industry in Washington is diminishing. The Democrats plan to impose stricter ethical constraints, stronger consumer protections, and give the SEC a larger role in regulating digital assets. Crypto critics Maxine Waters and Elizabeth Warren are expected to gain greater influence in the House Financial Services Committee and the Senate Banking Committee.
3. Circle Mints 250 Million USDC on Solana Network
Whale Alert posted on X platform that USDC Treasury minted 250 million USDC on the Solana network, valued at approximately $250 million. The transaction was executed by Circle's minting address.
4. Fidelity Transfers Approximately 27,000 ETH to Galaxy Digital
Onchain Lens monitoring shows that Fidelity has transferred approximately 27,000 ETH to Galaxy Digital, valued at around $60.27 million.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of November 8, 08:00
The top five popular tokens on ETH in the past 24 hours are: WASTED, DACITY, José, CTM, BABYPEPE
The top five popular tokens on Solana in the past 24 hours are: COGE, scamsem, BTC, José, STONK
The top five popular tokens on Base in the past 24 hours are: AERO, AXIS, XDP, ELSA, RSGP
The top five popular tokens on BSC in the past 24 hours are: BNCB, JAGENT, GM, RELAY, Bitcoin
What Are the Must-Read Articles in the Past 24 Hours?
OpenAI Raises $10 Billion, Anthropic Asked to Lower Prices: Trillion-Dollar Valuation Under Scrutiny
The AI industry is undergoing a repricing in the capital markets.
After the non-farm employment report, traders bet the probability of a December rate hike rose to 85%. Wall Street believes the report provides room for further rate hikes, bringing renewed pressure for rate increases amid market concerns about a slowdown in AI development post-midterms; however, some remain cautious about a December rate hike due to stock market volatility and the outlook for AI investments potentially restraining the Fed. The "New Federal Reserve News Agency" believes the report did not shake the Fed's judgment on economic growth and inflation, and whether the AI asset sell-off will change financial conditions may become a new variable for December decisions; attention should be paid to whether Waller values lagging employment data or forward-looking market signals.
The Security Logic of the Crypto Industry Has Been Completely Rewritten
From smart contract vulnerabilities to AI-assisted penetration, from fake recruitment to North Korean hacker organizations, the attack surface of the crypto industry is expanding from on-chain to the entire organizational system.
Anthropic: Many Internal Products Have Never Been Released
This conversation discussed the monthly planning and long-term assumptions of research-driven companies, the process of Claude Code evolving from grassroots exploration to product, the trade-offs between research priorities and user feedback, the culture of product managers within Anthropic, and the role of frontline deployment engineers (PDE).
Apple, Meta, and Musk's companies have been listed as early investigation targets, involving issues such as Trump's use of the AI chatbot Grok to plan military actions in Venezuela, Apple hosting applications used to track U.S. Immigration and Customs Enforcement (ICE) personnel, and Meta requiring local governments to sign non-disclosure agreements regarding data center development.
Risk warning Risk warning
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