Morning News | Nvidia announces Q3 financial report; BlackRock registers iShares Ethereum Staking ETF; Vitalik states that if BlackRock continues to grow, Ethereum will face threats
Overview of Important Market Events on November 20整理：ChainCatcher
Important News:
- Vitalik: If BlackRock continues to scale, Ethereum will face threats
- Data: The crypto market is experiencing fluctuations, Layer2 sector rises by 0.52%, BTC rebounds above $92,000
- NVIDIA Q3 Financial Report: The company's revenue for the third quarter is $57 billion, a year-on-year increase of 62%
- Trump plans to launch the "Genesis Mission" plan, viewing the AI competition as equally important as the space race
- Glassnode: Bitcoin falls below a key level, moderate bear market expectations strengthen
- "$97 million liquidated whale" ZEC short position faces 7 consecutive liquidations, account funds go to zero
- BlackRock registers iShares Ethereum Staking ETF in Delaware
What important events have occurred in the past 24 hours?
Vitalik: If BlackRock continues to scale, Ethereum will face threats
According to ChainCatcher, Ethereum founder Vitalik Buterin warned at the Devconnect conference in Buenos Aires that if institutions like BlackRock continue to accumulate ETH, Ethereum will face two major survival threats.
Currently, nine Wall Street firms hold over $18 billion in ETH, and analysts predict institutional holdings could exceed 10% of Ethereum's total supply. Vitalik pointed out two risks:
- Threat One: Displacement of core developers; institutional dominance may alienate builders who genuinely care about decentralization, leading to a potential loss of the core community.
- Threat Two: Incorrect technology choices; institutional pressure may drive inappropriate technical decisions, such as a 150-millisecond block time that benefits high-frequency trading but prevents ordinary users from running nodes, resulting in geographical centralization.
Vitalik emphasized the solution: focus on the characteristics of globalization, permissionless access, and censorship resistance, maintain a strong core community, and uphold the values that distinguish Ethereum from traditional finance.
According to ChainCatcher, based on SoSoValue data, the overall crypto market is experiencing fluctuations. The Layer2 sector remains relatively strong, rising by 0.52% in 24 hours, with Starknet (STRK) up 17.49% and zkSync (ZK) up 15.23%. Meanwhile, Bitcoin (BTC) rose by 0.09%, rebounding above $92,000, while Ethereum (ETH) fell by 1.93%, fluctuating around $3,000.
Additionally, the NFT sector rose by 0.33% in 24 hours, with Zora (ZORA) up 4.82%; the AI sector rose by 0.18%, with Fetch.ai (FET) up 9.45%. In other sectors, the DeFi sector fell by 1.18%, but Hyperliquid (HYPE) rose by 1.13%; the Layer1 sector fell by 1.3%, while Zcash (ZEC) rose against the trend by 12.07%; the Meme sector fell by 2.03%, with Pump.fun (PUMP) peaking at 4.41%; the CeFi sector fell by 2.58%, while Mantle (MNT) rose by 1.18%; the PayFi sector fell by 3.54%, while Dash (DASH) rose by 5.75%. The crypto sector index reflecting historical performance shows that ssiDeFi, ssiGameFi, and ssiSocialFi fell by 3.9%, 3.17%, and 3.11%, respectively.
According to ChainCatcher, NVIDIA (NVDA.O) has just released its Q3 financial results, with chip sales, central to the AI boom, growing faster than Wall Street expectations, and the company providing a strong revenue forecast for the quarter, leading investors to believe that the AI investment frenzy will continue.
The Q3 financial report shows that the company's revenue for the third quarter is $57 billion, a year-on-year increase of 62%, with data center revenue at $51.2 billion, exceeding the expected $49 billion. Additionally, its outlook for Q4 revenue is approximately $65 billion, significantly higher than the average analyst estimate of $61.6 billion.
After the report was released, NVIDIA (NVDA.O) shares rose over 4% in after-hours trading. NVIDIA CEO Jensen Huang stated, "Blackwell's sales are through the roof, and cloud GPUs are completely sold out." Previously, Huang had downplayed concerns about an AI bubble. (Jin Shi)
According to ChainCatcher, U.S. Department of Energy officials revealed that President Trump plans to sign an executive order next week introducing a plan called the "Genesis Mission," aimed at advancing the U.S. development in the field of artificial intelligence. Karl Kuhl, chief of staff at the Department of Energy, stated that this move is intended to indicate that the Trump administration views the upcoming AI competition as equally important as the "Manhattan Project" or the space race. Kuhl mentioned that this executive order may require U.S. national laboratories to conduct more research on emerging AI technologies and may involve public-private partnerships. (Jin Shi)
Earlier today, reports indicated that President Trump is also considering signing an executive order as early as Friday, granting the federal government unilateral authority to regulate AI, including the establishment of a "special task force on AI litigation" supervised by the Attorney General, whose sole responsibility would be to challenge state AI laws.
U.S. non-farm payrolls increased by 119,000 in September, the largest increase since April
According to ChainCatcher, as reported by Jin Shi, the U.S. non-farm payrolls recorded a seasonally adjusted increase of 119,000 in September, the largest increase since April.
Glassnode: Bitcoin falls below a key level, moderate bear market expectations strengthen
According to ChainCatcher, Glassnode published a weekly market observation article. The article pointed out that Bitcoin has fallen below the STH cost basis and the -1 STD range, putting pressure on recent buyers; the $95K-$97K area has now become a key resistance level, and if it can reclaim this area, it will mark an early step in the recovery of market structure.
On the other hand, spot demand remains weak, with significant negative inflows into U.S. spot ETFs, and TradFi asset allocators have not increased any buying. Speculative leverage continues to decline, reflected in the decrease of open interest in futures contracts for the top 500 assets and financing rates dropping to cycle lows. The options market has significantly repriced risk, with implied volatility rising across all maturities, and skew remains low as traders pay high premiums for downside risk protection.
This deeper decline continues the moderate bear market trend emphasized last week and raises doubts about the potential re-emergence of structural support. All these factors together constitute a market seeking stability, with its future direction depending on whether demand can reappear near key cost price levels or if the current fragility will evolve into deeper adjustments or a bear market.
Polymarket accused of manipulating prediction market results, Vitalik suggests using distributed oracles
According to ChainCatcher, a user from the crypto community, Internet Child (@0xinternetchild), posted on social media that the data provider for the prediction market platform Polymarket, ISW, is suspected of deliberately manipulating market results.
Ethereum co-founder Vitalik Buterin responded by suggesting that a 2-of-3 majority decision mechanism should be adopted among ISW, deepstatemap, and liveuamap, believing that distributed oracles and decentralized decision-making are natural solutions to such issues.
According to ChainCatcher, on-chain AI analysis tool CoinBob (@CoinbobAI_bot) monitored that this morning, after ZEC returned above $680, a BTC whale (0x7b7) that had previously been precisely hit with a $97 million loss saw its ZEC short position face 7 consecutive liquidations before being completely liquidated, with account funds going to zero. Yesterday, its ZEC short position was approximately $19 million, with a peak unrealized profit of $2.4 million, as it had slightly rolled over after a stop-loss, pulling the average price down to $655.
This address is a well-known player address for Roobet and Stake.com, which has seen significant losses and small gains since transferring $7 million to Hyperliquid on November 6, often using extremely narrow liquidation prices and high leverage for full positions. On November 17, it was targeted while shorting BTC, resulting in a single liquidation of nearly $97 million, briefly becoming the largest BTC short on Hyperliquid.
BlackRock registers iShares Ethereum Staking ETF in Delaware
According to ChainCatcher, The Block reported that BlackRock has registered the name "iShares Staked Ethereum Trust" in Delaware, indicating its plan to launch a new Ethereum staking ETF.
The registration was submitted by BlackRock Managing Director Daniel Schweiger, who was responsible for the registration of the first iShares Ethereum fund in 2023. Previously, Nasdaq had submitted a modification application in July to add staking functionality to the existing iShares Ethereum Trust (ETHA). ETHA currently manages nearly $11.5 billion in assets, making it the largest Ethereum ETF by market size.
Musk: AI and robotics will make money "irrelevant"
According to ChainCatcher, Musk recently stated at a U.S.-Saudi forum that AI and robotics will make money "irrelevant." "Energy constraints like electricity and quality still exist, but I believe money will eventually lose its significance." He also cited the science fiction writer Iain Banks' "Culture" series, created from 1987 to 2012, stating that these works can help people "perceive what a positive AI future might look like."
Additionally, Musk mentioned the end of labor itself, stating that work will become optional, like "sports or video games." "Growing vegetables in the backyard is more challenging, but some still enjoy it simply because they love planting. Work will be the same, becoming optional."
"Rich Dad Poor Dad" author debunks rumors: Never said gold would crash 50% in December
According to ChainCatcher, Robert Kiyosaki, the author of "Rich Dad Poor Dad," posted on the X platform to debunk rumors, stating that he found media platforms publishing fake videos in which a deepfake character impersonating him claimed that gold would crash 50% in December. Robert Kiyosaki clarified that he has never made such statements and reminded the community to beware of false information. He has previously stated that he holds gold, silver, Bitcoin, and Ethereum because he does not trust the Federal Reserve, the U.S. Treasury, and Wall Street, referring to gold and silver as "God's money" and Bitcoin and Ethereum as "people's money."
The likelihood of a Fed rate cut in December is low, traders increase bets on rate cuts
According to ChainCatcher, as reported by Jin Shi, the interest rate swap market continues to show that the likelihood of the Fed cutting rates in December is low. After the latest economic data was released, traders increased their bets on a Fed rate cut, but still expect the Fed to skip a rate cut in December.
Bridgewater founder: Bitcoin holdings account for about 1% of the portfolio
According to ChainCatcher, Bridgewater founder Ray Dalio stated, "I hold a small amount of Bitcoin, almost always have, accounting for about 1% of my portfolio. My view on Bitcoin has always been the same. I believe the problem with Bitcoin is that it will not become a reserve currency for major countries because it is traceable and could theoretically be controlled by quantum computing, hacked, and face similar risks."
Meme Hot List
According to the meme token tracking and analysis platform GMGN, as of November 21, 09:00,
The top five popular ETH tokens in the past 24 hours are: SHIB, LINK, PEPE, UNI, ONDO
The top five popular Solana tokens in the past 24 hours are: TRUMP, Fartcoin, ME, DOOD, CHILLGUY
The top five popular Base tokens in the past 24 hours are: ZORA, VIRTUAL, B3, TOSHI, KEYCAT
What are some interesting articles worth reading in the past 24 hours?
Completing a 10-year milestone, Vitalik discusses the value of Ethereum's existence
On Monday, the Ethereum Devconnect developer conference was held in Buenos Aires, Argentina, where Vitalik Buterin elevated the discussion framework to explore Ethereum's value in the entire crypto industry. Ethereum Foundation co-executive directors Tomasz Stanczak and Hsiao-Wei Wang focused on Ethereum's role during the transition period, emphasizing reliable operation, community collaboration, and continuous innovation, while former core researcher and current Etherealize co-founder Danny Ryan pointed out Ethereum's key role in decentralization and institutions from an institutional application perspective.
This Ju.com analysis report systematically outlines the technological evolution, regulatory dynamics, core project fundamentals, and macro valuation framework of the privacy coin sector, attempting to answer a core question: In an era of increasing transparency on-chain, why has privacy become even scarcer and more important? Ju.com analysts indicate that privacy is transitioning from a marginal characteristic of cryptocurrencies to a fundamental demand of Web3 infrastructure, and the compliant privacy route represented by Zcash may become a key bridge connecting traditional finance and decentralized systems in the next five years.
What has happened to El Salvador after canceling Bitcoin as legal tender?
In the past week, I visited El Salvador for the third time in a year, and it is evident that the country is undergoing a real transformation, not just theoretical talk or superficial gestures, but a fundamental change in how people live, think, build, and envision the future. The moment that encapsulated all this occurred during a private dinner with President Nayib Bukele, which I was fortunate to attend.
I have been following his work for several years. In my podcast, I interviewed nine Salvadorans and expatriates living locally, as well as businessmen, builders, community organizers, and ordinary citizens. A year ago, I tweeted that my dream was to meet him one day.
What key signals did the U.S. "Sleepless Night" reveal to the market?
On November 19, U.S. stocks and the crypto market were completely sleepless, as the highly anticipated AI stock NVIDIA was about to release its earnings report, and its data performance would greatly impact the subsequent market fluctuations. The Nasdaq briefly fell to 22,231, and the S&P 500 dropped to 6,574, while Bitcoin fell from around $93,000 to a low of about $88,600 around 4 AM on November 19.
Fortunately, NVIDIA's earnings report brought good news to the market.
Risk warning
Risk warning
