PANews reported on November 28 that a16z co-founder Marc Andreessen recently revealed on the Joe Rogan show that at least 30 tech founders had their cards cut off by banks without warning because of their association with cryptocurrencies. This phenomenon has sparked heated discussions in the crypto community, with many industry insiders sharing their own or their companies' experiences of being rejected by banks. Caitlin Long, founder of Custodia Bank, revealed that her company had been cut off from credit cards many times and is currently suing the Federal Reserve. The case will be debated on January 21, 2025. Jesse Powell, founder of Kraken, said that the company had been unable to obtain US banking services for many years and had to turn to the European market. Tyler Winklevoss, co-founder of Gemini, pointed out that the number of affected companies in a16z's investment portfolio far exceeded 30, and said that the "card cut-off" phenomenon has caused a systemic suppression of the crypto industry. Tradehill founder Jered Kenna shared that due to his crypto-related business, he was refused to open or close accounts by many banks, which even affected the banking services of other partner companies. In this regard, technology entrepreneur Balaji Srinivasan bluntly stated that this "card-cutting" action against the crypto industry is the result of political pressure, and called for accountability for relevant policymakers.

PANews reported on November 28 that CryptoQuant CEO Ki Young Ju wrote on X that during the 37% increase in Bitcoin (BTC) market value, large-cap coins (top 20) only rose 16%, while small- and medium-cap coins only rose 10%. BTC's growth rate continues to dominate, and its market dominance is unlikely to decline in the short term. The only time small- and medium-cap coins surpassed BTC's market value growth rate was during the "meme coin boom" in April 2024.

Odaily News XT Exchange released an announcement that the withdrawal service will be resumed soon. After the abnormal asset transfer incident occurred, the platform risk control department quickly discovered the problem through the real-time monitoring mechanism. The global technical team intervened at the first time and collaborated with the security team to quickly locate the root cause of the problem. In order to protect the safety of user assets, the technical team is further inspecting and repairing potential risks and vulnerabilities to ensure the stability and security of subsequent withdrawal services. During the suspension of withdrawals, the security and integrity of all users assets will not be affected in any way, and strict security measures have been taken to ensure that user assets are in an absolutely safe environment. According to the current inspection and repair progress, it is expected that the withdrawal service of some currencies will be gradually resumed at 08:00 (UTC+8) on November 29, 2024, and the withdrawal service of most currencies will be fully resumed within 24 hours. The latest developments of this incident will be updated in a timely manner through official channels.

PANews reported on November 28 that the XT exchange issued an announcement stating that the team had discovered and fixed a problem, and that user assets were not affected during the suspension period and were always under strict protection. Withdrawal services are expected to be gradually restored from 08:00 (UTC +8) on November 29, and most withdrawal services are planned to be fully restored within 24 hours.

Odaily News Ki Young Ju, founder and CEO of CryptoQuant, wrote on the X platform that considering the growth rate, Bitcoin dominance is unlikely to decline soon. During the period when BTC market value increased by 37%, large-cap stocks rose by 16%, while mid-cap stocks and small-cap stocks rose by 10%. The only time that small and medium-sized cryptocurrencies outperformed BTC market value growth was during the Memecoin season in April.

Odaily News a16z co-founder Marc Andreessen revealed on the Joe Rogan show that at least 30 technology founders have had their bank services terminated because of their involvement in digital currencies. Gemini co-founder Tyler Winklevoss said the number could be far more than 30, with a16z portfolio companies alone. Caitlin Long, founder of Custodia Bank, also revealed that her company has also been disconnected many times and is currently suing the Federal Reserve, with oral arguments scheduled for January 21, 2025. Kraken founder Jesse Powell said his company had been unable to obtain banking services in the United States for many years and had to turn to the European market. Founders Fund partner Joey Krug said he was harassed by banks simply for buying Bitcoin on Coinbase. (News.bitcoin)

Odaily News BlackRocks official updated data showed that as of November 27, its Ethereum exchange-traded fund iShares Ethereum Trust ETF held 625,576.1243 ETH, with a market value of US$2,263,409,486.93.

Odaily News OKX market data shows that BTC has broken through 96,000 USDT and is now trading at 96,042 USDT, with a 24-hour increase of 1.98%.

According to PANews on November 28, the OKX market showed that BTC had just broken through $96,000 and is now trading at $96,162.80 per coin, with a daily increase of 0.65%.

PANews reported on November 28 that Binance Labs announced its investment in Astherus, a multi-asset liquidity hub dedicated to maximizing the real returns of crypto assets. Astherus provides DeFi users with diversified income opportunities by enhancing the utility of digital assets, helping to maximize sustainable profits. Astherus' flagship product, AstherusEarn, combines institutional-grade security and high-yield strategies, covering multiple blockchains and protocols, providing reliable and scalable solutions to optimize user asset performance. Its modular DeFi infrastructure includes an application layer that supports derivatives trading and stablecoin returns, as well as an infrastructure layer that aggregates liquidity to support stablecoin protocols and derivatives clearing houses. In addition, Astherus plans to launch AstherusLayer, a Layer-1 blockchain designed specifically for DeFi that supports multi-asset staking and uses $BNB as fuel fees. Astherus will use the new funds to accelerate product development, launch innovative yield products and optimize user experience, aiming to expand yield strategies and simplify DeFi interaction processes.

Odaily News According to official news, Binance Labs announced an investment in Astherus, but the specific amount has not been disclosed.

Odaily News According to official news, the cross-chain protocol Router Protocol announced that its Nitro cross-chain bridge officially supports the Sui network, enabling cross-chain asset swaps between Sui and more than 30 EVM chains (such as Polygon, BNB, Ethereum, etc.). Router also rewards users with 0.015 SUI for each cross-chain transfer to Sui. Users can exchange any asset on the EVM chain for any token on Sui. Router also plans to launch a cross-chain intent adapter to support single-click operations such as liquidity provision and staking.

Frax Finance was allegedly among the crypto companies targeted by the debanking effort, according to the platform’s founder.

Odaily News According to data disclosed by SolanaFloor, pump.funs revenue rose to a record $79 million in November, accounting for 35% of its total revenue since its launch.

PANews reported on November 28 that the cross-chain protocol Router Protocol announced that its Nitro cross-chain bridge officially supports the Sui network, enabling cross-chain asset swaps between Sui and more than 30 EVM chains (such as Polygon, BNB, Ethereum, etc.). Router also rewards users with 0.015 $SUI for each cross-chain transfer to Sui. Users can exchange any asset on the EVM chain for any token on Sui. Router also plans to launch a cross-chain intent adapter that supports single-click completion of liquidity provision, staking and other operations.

Odaily News BNB Chain announced on the X platform that it has provided a donation of 78,800 USDT to support the Happy-Sci Researcher Fund Program, which means that the community’s generous donation will be doubled to provide more support for doctoral students around the world.

Odaily News According to data disclosed by SolanaFloor on the X platform, Raydium, Jito and Solana’s 30-day protocol fee revenue exceeded Ethereum and Circle for the first time, with Raydium’s 30-day protocol fee revenue exceeding US$200 million.

Odaily News According to market news, ECB board member Villeroy said that there are sufficient reasons to cut interest rates in December, and that an open attitude should be maintained on the scale of the December rate cut, and that sufficient flexibility should be maintained in terms of frequency and magnitude of the rate cut. (Jinshi)

Odaily News A whale spent 1,800 ETH and 1.05 million USDT to buy 78.77 WBTC in the past 7 hours.

Odaily News Hong Kong Chief Executive John Lee attended the Hong Kong Association of Banks and said that Hong Kong has become a leader in the green bond market with the issuance of HK$220 billion of green sustainable bonds in multiple currencies since May 2019. An adoption roadmap for the adoption of International Financial Reporting Standards will be launched in the coming weeks, making Hong Kong one of the first jurisdictions to align local and international sustainable reporting requirements. The Hong Kong government is determined to develop Hong Kong into a regional green financial center and is committed to innovation and technological advancement in the financial sector, including providing funding programs for proof of concept of green financial technology and early funding support for related programs. Fintech can also help companies use artificial intelligence (AI) and blockchain technology to improve efficiency and maintain competitive advantage. (Aastocks)