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COINBASE LAUNCHES 'BASED AGENT' FOR AI BOT CREATION - Cryptocurrency exchange Coinbase has launched a new tool dubbed 'Based Agent' that enables users to create their own AI bot with a crypto wallet in three minutes. - Based Agent functions as a template which lets users build AI bots that can... - ...perform swaps, trades and stakes, as well as registering their own base name. - The template was built with Coinbase’s software development kit (SDK) in conjunction... - ...with OpenAI and the software creation platform Replit. - To create an AI bot, users need an application programming interface (API) key from Coinbase’s developer program and a key from OpenAI. They also need to fork the Replit template. - Coinbase's CEO Brian Armstrong shared the announcement on X, claiming that users can create their own "AI agent with a crypto wallet in less than 3 minutes". - According to the Mode Network Founder James Ross, the majority of blockchain transactions could be conducted by AI bots by April 2025. [Images Generated by BSCN using AI]

HONG KONG STOCK EXCHANGE TO LAUNCH VIRTUAL ASSET INDEX SERIES ON NOV. 15 - The Hong Kong Stock Exchange (HKEX) announced its upcoming launch of the Hong Kong Exchange Virtual Asset Index Series on November 15, 2024. Key Highlights: - The index will offer transparent pricing for Bitcoin and Ethereum specifically within the Asian time zone (UTC+8), addressing price discrepancies across global exchanges. - HKEX CEO Nicolas Aguzin emphasized the importance of providing transparent benchmarks, helping investors make informed decisions. “By providing transparent and reliable real-time benchmarks, we hope to assist investors in making informed investment decisions, thereby supporting the healthy development of the virtual asset ecosystem and reinforcing Hong Kong's status as an international financial center,” said Aguzin. - In a parallel development, Hong Kong regulators are proposing tax break legislation for digital asset investments. This could mean reduced tax burdens for local crypto investors, enhancing the city's attractiveness for asset allocation. - Further, the Hong Kong Securities and Futures Commission (SFC) is set to release a finalized list of crypto exchanges that will receive full licenses by the end of the year. [Images Generated by BSCN using AI]

1INCH PARTNERS WITH BRUCE LEE FAMILY COMPANY TO LAUNCH "TAKE CRYPTO SERIOUSLEE" CAMPAIGN - 1inch Labs partnered with the Bruce Lee Family Company to promote DeFi through the “Take Crypto SeriousLee” campaign. This initiative aims to enhance DeFi adoption while honoring Bruce Lee's enduring legacy. Key Details: - The campaign intends to educate the masses about DeFi, showcasing it as the financial system of the future. - Further, it seeks to convey that cryptocurrency can be a reliable alternative, not just a speculative tool. - The partnership will feature a variety of promotional activities over the coming months, kicking off with a video launch on 1inch’s social media channels. - Worth noting, the name "1inch" is inspired by Bruce Lee’s legendary “one-inch punch,” symbolizing efficiency and maximum impact with minimal effort. “Our project was named after Bruce Lee’s iconic punch. And 1inch has always stuck to Bruce Lee’s values, including integrity, resilience and a serious approach to every endeavor he pursued,” said Sergej Kunz, 1inch co-founder. - Founded by Lee's daughter, Shannon Lee, the Bruce Lee Family Company is dedicated to preserving and safeguarding Lee's legacy.  [Image Generated by BSCN using AI]

FTX REACHES $228M SETTLEMENT WITH BYBIT, AIMS TO RECOVER $175M - FTX settled its lawsuit against Bybit for $228 million after a year of legal disputes. - With this agreement, FTX gets closer to reclaiming assets that were lost during the crash of the crypto market in 2022. Key Details: - The initial lawsuit, filed in 2023, sought to recover $953 million from Bybit. While the final settlement is substantially lower, the $228 million deal is seen as a positive outcome for FTX's bankruptcy estate. - Under the terms of the settlement, FTX will recover $175 million in cryptocurrencies held on Bybit accounts. - The firm plans to liquidate over 105 million BIT tokens from Mirana, Bybit's investment arm, valued at approximately $52.7 million. - Defendants who withdrew funds from FTX before its bankruptcy will still be eligible to claim back 75% of their aggregate balance as of the petition date. - The lawsuit stemmed from allegations that Bybit leveraged “VIP” access to withdraw hundreds of millions just before FTX's collapse. FTX accused Bybit of holding assets "hostage." - Earlier, over 94% of FTX creditors supported the company’s reorganization plan, which aims to repay 98% of claims at a value exceeding 118% in cash. The Delaware Bankruptcy Court has approved this plan. [Images Generated by BSCN using AI]

TETHER’S ASSET BREAKDOWN REVEALED AMID SCRUTINY: DETAILS… - Tether's CEO Paolo Ardoino disclosed specific figures on assets Tether held across Bitcoin, gold, and U.S. Treasury bonds, at the Plan ₿ Forum in Lugano, Switzerland. Key Asset Breakdown: 1. Bitcoin Reserves: Tether holds 82,454 Bitcoin, valued at approximately $5.58 billion at the current market rate. 2. Gold Holdings: With 48.3 tons of gold, Tether’s reserve includes approximately $3.87 billion in gold. 3. U.S. Treasury Bonds: Tether’s portfolio features a substantial $100 billion in U.S. Treasury bonds. - The CEO described the asset mix as Tether’s “best hedge against chaos.” - These details, released amid ongoing scrutiny over Tether’s transparency, aim to fortify trust in USDT, the world’s largest stablecoin by market cap, currently valued at $120 billion. Market Concerns: - In recent months, Tether's transparency has come under scrutiny, most notably from Cyber Capital's founder, who called the company a scam. - Further, WSJ reported recently that U.S. government agencies, including the Justice Department, are investigating Tether's alleged connections to illegal activities. - The WSJ reported that these investigations have been ongoing for years, focusing on whether Tether has been used to launder money or circumvent sanctions. Reassurance Amid Regulatory Pressures: - In response to these allegations, Tether issued a strong rebuttal, labeling the claims “outrageous” and asserting that the WSJ’s reporting lacked accuracy and credible sources. - The company emphasized its longstanding collaboration with law enforcement agencies, asserting that Tether actively works to prevent criminal misuse of its stablecoin. "It is wildly irresponsible for WSJ to write articles with reckless allegations with such certainty when no authorities have gone on the record to confirm these rumors, and no sources are named," Tether said in a statement. [Images Generated by BSCN using AI]

IMPROBABLE TO LAUNCH THE 'FASTEST BLOCKCHAIN FOR MASS CONSUMER APPLICATIONS' WITH 400,000 TPS - Improbable, the metaverse technology company which is creating the yugalabs Otherside platform, has announced that its Somnia: The Dream Computer for a Fully Onchain World blockchain will enter its DevNet phase in the coming weeks. - Improbable claims that it is "developing the fastest blockchain for mass consumer applications" by leveraging the company's "10+ years of expertise in distributed systems", per their X account. - The blockchain will be able to process over 400,000 transactions per second (TPS) with sub-second latency and low fees. - The blockchain will also be Ethereum Virtual Machine (EVM) compatible. - "Over the last 10 years, no one has managed to build a high-performance blockchain. The Somnia blockchain will enable very, very high transaction throughput and the ability to put more things on-chain”, said the Co-Founder of Improbable, Herman Narula per CoinDesk. - Narula highlighted how the industry needs a better L1 to build real metaverses at consumer scale. - The project is spearheaded by the Virtual Society Foundation. [Images Generated by BSCN using AI]

KUCOIN UPGRADES ITS OPTIONS TRADING PLATFORM - KuCoin Exchange, a cryptocurrency exchange with 36 million users in over 200 countries, has upgraded its options trading platform. - Through KuCoin options, users can trade crypto through derivative contracts and... - ...this type of trading enables users to speculate on price movements or hedge their portfolios using either call options or put options. - The new options trading feature simplifies options trading by supporting major cryptocurrencies like $BTC and $ETH while... - ...$USDT can be used for all transactional pricing and settlements, per a KuCoin press release. - Overall, the platform facilitates a variety of trading strategies, from hedging to speculative trading. - KuCoin, which was rated as "One of the Best Crypto Apps & Exchanges of June 2024" by Forbes Advisor, saw its spot trading volume surge earlier this year by over 120%. [Images Generated by BSCN using AI]

HEDERA ANNOUNCES LAYERZERO INTEGRATION AMID MAINNET V0.54 RELEASE - Hedera anounces the integration of LayerZero Labs, an Omnichain interoperoperability protocol. The collaboration aims to enhance the Hedera ecosystem, particularly in the decentralized finance (DeFi) sector. Key Highlights: - The launch enables Hedera Token Service (HTS) to facilitate both fungible and non-fungible token creation, ensuring fast and cost-effective transactions. - The integration connects Hedera to EVM-based liquidity, providing a new avenue for real-world utility within its ecosystem. - This milestone builds on previous infrastructure investments, enhancing the network's position as an enterprise-grade option for institutional DeFi. Benefits of LayerZero for Hedera: - Omnichain Fungible Token (OFT) Interoperability: LayerZero’s OFT standard addresses asset-level interoperability, a vital aspect for Real World Asset (RWA) issuance. - Enhanced DApp Connectivity: Developers can now directly integrate LayerZero’s Hedera endpoint into Hedera-based dApps, creating a seamless bridge experience and attracting new users. - Liquidity Support via Stargate: The Hedera endpoint paves the way for hUSDC to be supported on Stargate, a liquidity transport protocol. A governance proposal will soon be presented to add native support for hUSDC. Mainnet v0.54 Features: - Also, recently, the Hedera mainnet has been upgraded to v0.54, featuring the full implementation of Frictionless Airdrops. This release includes: - Full implementation of Frictionless Airdrops, benefiting both token creators and users. - The ability for users to update token custom fee schedules through smart contracts. - Key components from v0.53, including unlimited automatic associations for accounts and sender-paid auto associations. [Images Generated by BSCN using AI]

OVER $20M DRAINED FROM U.S. GOVERNMENT-CONTROLLED WALLET: REPORT - Over $20 million was reportedly drained from a U.S. government-linked crypto wallet, initially tied to the Bitfinex hacker's seized funds. - Arkham Intelligence and blockchain investigator ZachXBT confirmed the exploit on October 24, drawing attention to suspicious transfers from a dormant address. Key Details: - The wallet, which had been inactive for eight months, suddenly saw activity. $1.25 million in Tether (USDT) and $5.5 million in USD Coin (USDC) were withdrawn from the DeFi platform Aave. - Following the initial withdrawals, around $13.7 million in aUSDC (an interest-bearing token) and $446,000 in Ethereum were moved to a newly created wallet. Additional Movements: 1. Approximately $320,000 in Ethereum was sent to various exchanges. 2. $80,000 was distributed to smaller wallets. Investigative Insights: - Minutes before the transfers, Arkham Intelligence flagged withdrawals from Aave, marking the first activity on the wallet in months. - The wallet used 1inch, an exchange aggregator, to swap stablecoins for Ethereum. The Ethereum was then shuttled in chunks to a deposit address associated with Binance, a major offshore exchange. - ZachXBT labeled the wallet activity as "nefarious," suggesting the funds may have been stolen. - This wallet received funds linked to the U.S. government as part of the ongoing investigation into the 2016 Bitfinex hack, orchestrated by Ilya Lichtenstein and Heather Morgan, who later faced charges for money laundering. [Images Generated by BSCN using AI]

BINANCE LABS INVESTS IN MOONWALK FITNESS FOR GAMIFIED FITNESS REWARDS - Binance Labs announced its latest investment in Moonwalk Fitness , a GameFi app on Solana, designed to combine fitness with financial rewards. "With their backing and strong support, we’re one step closer to bringing Solana and blockchain technology to the mainstream," said Sol, Co-Founder, Moonwalk Fitness. "By making fitness fun and financially rewarding, we believe we can inspire more people to lead healthier lives.” Key Features: - Users can stake USDC, SOL, or BONK and earn rewards by meeting daily step goals. If they fail, a portion of their stake is redistributed among winners. - Participants join step challenges with friends, family, or strangers. Daily targets, competition duration, and stakes are pre-set. - Built on Solana, the app abstracts the complexities of blockchain. It reportedly offers a seamless experience for users, even those unfamiliar with crypto. Future Plans: - iOS and Android Integration: Moonwalk is currently web-based, but the recent funding will accelerate its mobile app launch, according to the team. - Broader Health Activities: The app plans to expand beyond step challenges, introducing more fitness activities and rewards. [Images Generated by BSCN using AI]