Peter Schiff referred to Strategy's business model as "fraud" today and publicly challenged Michael Saylor for debate. It is currently unclear whether Michael Saylor will accept the challenge. （Cointelegraph）
[Crypto Project Flying Tulip's Fund Management Institutions Spark Controversy, Community Suggests Re-Evaluation] On November 17, crypto KOL @Cbb0fe suggested on the X platform that Andre Cronje re-evaluate the fund management institutions for Flying Tulip's $1 billion fund. The current fund managers are MEV Capital and Re7 Labs, but these two institutions have performed poorly in the recent series of DeFi-related collapses. Flying Tulip is a crypto project newly founded by Andre Cronje in September this year. It previously completed a $200 million private seed round financing at a $1 billion valuation, with investors including Brevan Howard Digital, CoinFund, DWF Labs, and others. The financing was conducted through a Simple Agreement for Future Tokens (SAFT) structure. The project plans to build an on-chain trading platform covering the DeFi sector, including functionalities for spot trading, derivatives, lending, stablecoins, and insurance.
[SlowMist Founder Yu Xian: Private Keys of Some NoFx Open-Source Automated Trading System Users' Wallets Leaked] On November 17, SlowMist founder Yu Xian stated that some users of the NoFx open-source automated trading system have experienced wallet private key and CEX/DEX API key leaks, resulting in actual cryptocurrency theft incidents. To mitigate risks, SlowMist has collaborated with relevant security teams to notify affected users before disclosing related details.
[Matrixport: Bitcoin and Ethereum Leveraged Positions Accelerate Clearance] Matrixport stated on November 17 that the current market is in a deleveraging phase, with rising risks associated with high positions. The open interest in Ethereum contracts has dropped by 50%, leveraged funds are rapidly contracting, and overall risk appetite is under pressure. Bitcoin is approaching the critical support level of $93,000, and liquidity in this range may weaken in the short term. Long positions in futures for the fourth quarter have been largely cleared, and leveraged pressure has been released temporarily. Attention should be paid to the concentration of ETF holdings; if the market weakens, it may trigger further position reductions, bringing new liquidity pressures.
[U.S. Stock Futures Rise as Market Focuses on Nvidia Earnings and Non-Farm Payroll Report] On Sunday evening, U.S. stock index futures mostly rose. Dow futures remained stable, while S&P 500 and Nasdaq 100-related contracts rose 0.3% and 0.5%, respectively. Previously, the Nasdaq closed lower last week due to weakening momentum in tech stocks, while the S&P 500 and Dow posted gains despite a sharp drop on Thursday. This week, investors will focus on the September non-farm payroll report, which will be released on Thursday, reflecting the state of the U.S. labor market. In addition, Nvidia will release its earnings report on Wednesday, and retailers such as Walmart, Home Depot, Target, Lowe’s, and Gap will also announce their results.
[The U.S. Department of Justice Seeks to Forfeit $15.1 Million USDT Linked to North Korean Hackers] The U.S. Department of Justice has filed a request to forfeit over $15.1 million USDT seized from North Korean hackers associated with the APT38 military cyber unit. The FBI recovered these funds after tracking stolen assets from multiple hacking incidents targeting exchanges and payment platforms in 2023. The Department of Justice has submitted two civil forfeiture applications, seeking court approval to retain the assets and return them to the victims. Investigations revealed that these USDT funds are connected to APT38's operations targeting four overseas virtual currency platforms in 2023. Although the Department of Justice did not explicitly name the platforms, the timing and amounts align with theft cases involving Poloniex, CoinsPaid, Alphapo, and others in 2023. Efforts to trace and seize virtual currencies linked to APT38 are ongoing.