Weekly Report | MicroStrategy's Bitcoin investment gains $1.63 billion; Vitalik elaborates on the intersection of artificial intelligence and blockchain under the "d/acc" concept

Organizer: Biscuit, ChainCatcher

"What Important Events Happened This Week (11.27-12.3)"

1. Microstrategy purchased approximately 16,130 BTC for about $593.3 million in cash, with an unrealized profit of $1.63 billion on its Bitcoin investment
Microstrategy purchased approximately 16,130 Bitcoins for about $593.3 million in cash, at an average price of $36,785 per Bitcoin. The unrealized profit from MicroStrategy's Bitcoin investment reached $1.63 billion.

As of November 30, 2023, MicroStrategy holds a total of 174,530 Bitcoins, with a total investment of about $5.28 billion and an average purchase price of $30,252 per Bitcoin. (Source link)

2. Animoca Brands strategically invests in the TON ecosystem and blockchain game studio Farcana, and plans to purchase additional EDU tokens from the open market

Animoca Brands announced that it has made a strategic investment in the TON ecosystem and has become the largest validator on the TON blockchain, providing funding, research, and analytical platforms for third-party TON ecosystem mini-applications. TON Play allows Animoca Brands' portfolio of over 400 Web3 projects to be smoothly ported directly into Telegram.

Additionally, Animoca Brands has strategically invested in the blockchain game studio Farcana, with the specific investment amount undisclosed. The project plans to launch tokens and a complete game early next year. Animoca Brands stated that the strategic investment in Farcana is part of its vision to promote Web3 development in the Middle East and North Africa.
Animoca Brands stated on the X platform that it intends to purchase additional EDU tokens from the open market, believing that EDU, along with Open Campus and its partners, has great potential in incentivizing the creation of educational content and promoting the adoption of blockchain technology by educators. (Source link)

3. Binance.US: Changpeng Zhao resigns as chairman of the board
Binance.US stated that Changpeng Zhao has resigned from his position as chairman of the board and has transferred his voting rights through a proxy arrangement.

According to The Wall Street Journal, the U.S. Securities and Exchange Commission (SEC) is still seeking evidence that Binance.US has a backdoor to control customer assets like FTX. During a hearing in federal court, Binance.US lawyers argued that the SEC has no evidence of asset misuse and requested U.S. District Judge Zia Faruqui to consider halting the SEC's investigation into potential fraud.

Additionally, according to Reuters, a U.S. federal judge stated that former Binance CEO Changpeng Zhao must remain in the U.S. temporarily until the Seattle court considers whether he should continue to stay there for a ruling hearing in February next year or whether he should be allowed to return to the UAE. (Source link)

4. Hong Kong Chief Executive John Lee responds to virtual platform regulatory fraud: Government regulation is very important, and unlicensed platforms will be cracked down on
Following the investigation into the cryptocurrency trading platform JPEX for fraud, the police and the Securities and Futures Commission recently investigated another platform, "HOUNAX," involving 148 million HKD. The official Facebook page of the platform is currently inaccessible.

In response, Hong Kong Chief Executive John Lee addressed the issue of regulatory fraud on virtual platforms. He stated that government regulation is very important to protect investors' interests while cracking down on unlicensed platforms. If necessary, the government will actively cooperate to provide power to regulatory agencies. Furthermore, investors must use licensed platforms for virtual asset trading online to safeguard their interests. (Source link)

5. Spartan Group co-founder: Short position information leaked by a certain CEX
Kelvin Koh, managing partner of Spartan Group, revealed that while trading on a major centralized cryptocurrency exchange, they discovered that the exchange leaked their short position information to certain contacts within the industry. He stated that this is a serious violation of client confidentiality, and therefore they will terminate trading activities on this exchange.

Kelvin Koh expressed that what is even more shocking about this incident is that this information was easily shared. If any random employee of the exchange can access client trading positions and share them with random parties, it indicates that the exchange has not taken appropriate control measures. Moreover, this exchange is one of the largest centralized exchanges, and he called for stricter regulation of centralized exchanges. (Source link)

6. OpenAI announces new initial board: Sam Altman returns as CEO
OpenAI announced the formation of a new initial board, with Sam Altman returning as CEO, Mira Murati as Chief Technology Officer, and Greg Brockman returning as President.

In his speech, Sam stated that the new initial board will consist of Bret Taylor (Chair), Larry Summers, and Adam D'Angelo. The current priority is to advance research programs and further invest in full-stack safety work, which has always been a key part of the work. Continuous improvement and deployment of products to serve customers is crucial. It is very important for people to experience the benefits and prospects of artificial intelligence and have the opportunity to participate in shaping it.

Additionally, he mentioned that Bret, Larry, and Adam will work diligently to complete the important task of building a board with diverse perspectives, improving our governance structure, and overseeing an independent review of recent events. He looks forward to working closely with them to ensure that everyone can feel assured about OpenAI's stability. (Source link)

7. In November, the cryptocurrency market raised $1.2 billion, reaching a nearly one-year high
According to the cryptocurrency asset data platform RootData, in November 2023, the cryptocurrency industry disclosed a total of 92 financing rounds, with a cumulative financing amount of approximately $1.2 billion, making it the month with the highest financing amount in nearly a year, up 189% from October ($430 million).

The project with the highest financing amount in November was the mining company Phoenix Group, which completed a $370 million IPO financing, followed by Wormhole, which completed $225 million in financing at a valuation of $2.5 billion, and Blockchain.com, which completed $110 million in Series E financing at a valuation of $7 billion.

The institution with the highest frequency of investments in November was Foresight Ventures, which invested in six projects. Andreessen Horowitz, Spartan Group, HashKey Capital, and Shima Capital each participated in four projects this month. (Source link)

8. SBF's former prison mate reveals: SBF faced extortion threats in Brooklyn prison
According to Cointelegraph, cryptocurrency KOL Tiffany Fong recently interviewed former Metropolitan Detention Center (MDC) inmate Gene Borrello, who revealed that Sam Bankman-Fried (SBF) became a target for extortion due to his timid nature and "the physique of an 80-year-old" during his pretrial detention at MDC.

Borrello stated that some inmates attempted to intimidate SBF to extort protection money. "They wanted Sam Bankman to feel 'it's dangerous here, you need protection'." However, Borrello noted that SBF was placed in a unit at the Brooklyn MDC that was separate from general inmates, which included wealthy individuals and government collaborators.

Borrello recalled that during a conversation with SBF, he appeared very timid and nervous. He also asked SBF how he spent his wealth. "I asked him: 'What do you spend your money on? What watch are you wearing?' He said: 'I have an Apple Watch.' I asked: 'What car do you drive?' He said: 'A 2020 Toyota Camry.'" (Source link)

9. Data

• The Cosmos ecosystem foundation invested $100,000 in Celestia in 2021, now worth $70 million
• USDT's total market capitalization exceeds $89 billion, setting a new historical high, with a circulation increase of 4.5 billion in November
• 67% of the 199 million MATIC previously distributed by Polygon's ecosystem growth address has entered CEX
• Microstrategy purchased approximately 16,130 BTC for about $593.3 million in cash
• The STRK token contract was deployed 379 days ago, with a total supply of 10 billion tokens

"What Great Articles Are Worth Reading This Week (11.27-12.3)"

1. "Vitalik's New Article: The Intersection of AI and Blockchain under the 'd/acc' Concept"

Vitalik Buterin opposes the mindset of "prioritizing maintaining the current state of the world," while pointing out that technological development requires not only emphasis on intensity but also on direction. In his latest article, he profoundly explores the intersection of artificial intelligence and blockchain and proposes the concept of "d/acc" (decentralized acceleration). He believes that with the accelerated development of technology, the emergence of artificial intelligence may become one of the greatest challenges humanity faces, but he also proposes a more humane and decentralized development path.

2. "Interview with MetaMask Product Head: Snaps has achieved six major functions, with Solana, Cosmos, and Tezos being the most popular"

This time, ChainCatcher invited MetaMask Product Head Christian Montoya to interpret Snaps' deep layout, multi-chain future, competition and cooperation, and long-term perspectives, revealing the jungle rules for the next cycle of the little fox.

3. "Arthur Hayes: The U.S. treatment of Changpeng Zhao and Binance is absurd, and cryptocurrency may benefit from the influx of Chinese funds"

So why should a company that is not even ten years old face such severe punitive measures? Did Binance commit more crimes than any bank in U.S. history, some of which have existed for centuries? Clearly, the treatment of CZ and Binance is absurd and highlights the arbitrary nature of national punishment.

4. "USDC is 'broken' by USDT, why is Circle pushing for an IPO?"

Since its issuance, the dollar stablecoin "compliance faction representative" USDC has been competing with the "originator" USDT for market share. The decline of USDC has become increasingly evident since the second half of this year. Market competition is intensifying, with traditional payment giant PayPal also entering the fray by issuing PYUSD. The dollar stablecoin market is gradually entering a phase of stock competition, and Bloomberg reports that Circle plans to go public in 2024. Is another cryptocurrency company relying on traditional capital operations to survive?

5. "Why did MicroStrategy choose to 'buy the dip' with $593 million in Bitcoin in November?"

While it is unclear what led MicroStrategy to be so optimistic about Bitcoin in November, there has been a lot of news related to Bitcoin spot ETFs. Additionally, there are about five months until the next Bitcoin halving. Both factors are considered potential positive catalysts for Bitcoin's price.

6. "Polkadot Founder Gavin Wood: Treasury conservatism has deviated from its original intention, and more effective funding deployment mechanisms like Fellowship should be explored"

Polkadot founder Dr. Gavin Wood recently gave an interview to The Kusamarian, sharing his past experiences, views on governance, and discussing topics such as AI, Ethereum, witch attacks, and treasury.

7. "xPet: Merging DeFi with electronic pets, a new social game entirely parasitic within Twitter"

Currently, the social track has sparked a wave of electronic pets. The aftershocks of Fren Pet have not yet dissipated, and another upgraded version of the pet-raising game, xPet.Tech, has recently quietly exploded in popularity. Let's take a look at what it is and whether there are opportunities and gameplay for zero-cost participation.

8. "Charlie Munger's Last Interview: Thirteen Insights on Investment and Life"

On the morning of November 28, "Oracle of Omaha" Warren Buffett's investment partner and associate for the past half-century, Charlie Munger, passed away peacefully at a hospital in California at the age of 99. Shortly before his death, he made a rare appearance on the popular business podcast Acquired, discussing his investment views, experiences, and lessons.