Daily Report | Gary Gensler hints at possible departure from the SEC; Attorneys General from 18 states sue the SEC for overreach and "persecution" of

Organizer: Fairy, ChainCatcher

Important News:

• Gary Gensler hints at possible departure from the SEC
• OKX to launch MOODENG (Moo Deng) spot trading
• US-listed company Unitronix releases cryptocurrency portfolio strategy, plans to invest in BTC, ETH, SOL, and meme coins
• Crypto fund C1 Fund plans to raise $100 million through IPO to invest in digital asset technology
• New York Dog Mayor election disrupted by cryptocurrency speculators, candidate withdraws
• Fox reporter: Attorneys General from 18 US states file lawsuit, accusing the SEC of overreach and "persecuting" the crypto industry

"What important events occurred in the past 24 hours"

Web3 MOBA game project E4C: Final Salvation completes $10 million funding, led by The Spartan Group

The Web3 MOBA game project E4C: Final Salvation has completed $10 million in funding, led by The Spartan Group, with participation from institutions such as Sui, IVC, CVP NoLimit, Goodwater, M13, as well as notable individuals from Binance, Temasek, Dragonfly, Axiom Asia Private Capital, and Paris Hilton.

According to RootData , E4C: Final Salvation is a mobile MOBA game that integrates esports into its gameplay, featuring fully mobile-native and web3 custom design. The game is developed by Ambrus Studio.

OKX to launch MOODENG (Moo Deng) spot trading

According to an official announcement, OKX is set to launch MOODENG (Moo Deng).

The specific schedule is as follows:

• MOODENG deposit opens: November 15, 4:00 PM (UTC+8)
• MOODENG auction period: November 15, 7:00 PM to 8:00 PM (UTC+8)
• MOODENG/USDT spot trading opens: November 15, 8:00 PM (UTC+8)
• MOODENG withdrawal opens: November 16, 6:00 PM (UTC+8)

US-listed company Unitronix releases cryptocurrency portfolio strategy, plans to invest in BTC, ETH, SOL, and meme coins

US-listed company Unitronix Corp. (OTC: UTRX) recently released a cryptocurrency portfolio strategy aimed at combining foundational crypto assets like Bitcoin with dynamically selected high-growth assets, including DeFi tokens and stablecoins, primarily focusing on:

• Strategic investment in Bitcoin: Plans to allocate most of the funds to Bitcoin;
• Diversified cryptocurrency assets: Holding assets including ETH, Solana, as well as DeFi tokens and meme coins;
• Dynamic leverage management: The portfolio's leverage can reach up to 10 times under favorable market conditions, adapting to changing market dynamics while controlling risk and achieving growth;
• AI-driven management and rebalancing: Actively managing the portfolio using AI algorithms.

Unitronix Corp CEO Kenneth Williams stated: "We are committed to making it easy for all levels of shareholders to access cryptocurrency directly. Our portfolio strategy fully leverages the high growth potential of cryptocurrencies while maintaining strong risk control. This is an unprecedented way to access digital assets through a regulated investment structure."

Crypto fund C1 Fund plans to raise $100 million through IPO to invest in digital asset technology

Closed-end investment company C1 Fund Inc. submitted a registration statement to the US Securities and Exchange Commission (SEC) on November 12, planning to raise $100 million through an initial public offering (IPO). The fund will invest at least 80% of its total assets in equity and equity-related securities of companies in the digital asset services and technology sector, focusing on the top 30 leading companies in this field.

C1 Fund is headquartered in Palo Alto, California, co-founded by Dr. Najamul Kidwai, who serves as President and CEO. The fund plans to list on the New York Stock Exchange and will be advised by C1 Advisors LLC, also based in Palo Alto.

Dr. Kidwai stated that the fund aims to provide opportunities for institutional and retail investors to invest in globally leading digital asset services and technology companies, achieving investment goals through maximizing total returns. The registration statement has not yet become effective, and the related stock issuance is pending SEC review.

New York Dog Mayor election disrupted by cryptocurrency speculators, candidate withdraws

According to Protos, the New York City Dog Mayor election has recently been disrupted by cryptocurrency speculators, leading to the withdrawal of a popular candidate. It is reported that holders of a meme coin named BERT used improper means to campaign for the candidate dog Bertram while smearing other contenders, intending to drive up the token's price.

The owner of candidate dog Enzo, Olivia Caputo, announced her withdrawal on social media, stating that the competition had devolved into a "catalyst for spreading hate, negativity, and violent threats." Caputo accused BERT coin supporters of inducing votes through payments and giveaways, hinting in group chats that it was a "pump and dump" scheme.

According to its website, the NYC Dog Mayor competition "aims to create something fun and joyful for people during tough times; to provide unique opportunities for community development in New York City, and to present politics and civic engagement in a positive, educational, and engaging way (this time)."

Hong Kong Stock Exchange launches virtual asset index series today, reference rates calculated every afternoon at 4 PM

According to Hong Kong media reports, the Hong Kong Stock Exchange will launch a series of virtual asset indices today. This index series will provide transparent and reliable real-time price benchmarks for Bitcoin (BTC) and Ethereum (ETH) pricing in the Asian time zone, offering a unified reference price for virtual assets to address price discrepancies across global exchanges.

Specifically, the reference index is based on the benchmark spot price weighted by the 24-hour trading volume of Bitcoin or Ethereum, calculated based on aggregated market prices from several major virtual asset exchanges, and is quoted in USD in real-time. The reference rate is designed for financial product settlement and is calculated daily at 4 PM Hong Kong time. The launch of this index series is also a move to establish Hong Kong as a leading digital asset hub in Asia.

The Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, Yip Chi-hang, previously pointed out that virtual asset trading platform licenses will be issued by the end of this year, with a consultation group for virtual asset trading platforms starting in early next year, and continued support for tokenization and Ensemble projects.

Fox reporter: Attorneys General from 18 US states file lawsuit, accusing the SEC of overreach and "persecuting" the crypto industry

According to Fox Business reporter Eleanor Terrett, Attorneys General from 18 US states have filed a lawsuit against the US Securities and Exchange Commission (SEC) and its commissioners, accusing them of unconstitutional overreach and unfair "persecution" of the crypto industry under the leadership of SEC Chairman Gary Gensler.

The lawsuit, signed by 18 Republican state attorneys general, details how the agency has conducted "severe government overreach" against the $3 trillion industry through enforcement actions, infringing on states' rights to regulate their economies.

The 18 Republican state attorneys general are asking the court to declare that "digital asset trading is not an investment contract" and to issue an order preventing the SEC from taking action against "digital asset platforms that fail to register as exchanges, dealers, brokers, or clearing agencies." According to the complaint, many states have developed their own regulatory frameworks for the crypto industry and encourage its development.

According to Nebraska Attorney General Mike Hilgers, Nebraska and Kentucky are jointly leading a coalition of 18 states challenging the Biden-Harris administration's illegal and broad regulation of cryptocurrencies. In a lawsuit filed in the US District Court for the Eastern District of Kentucky, the state attorneys general and other parties accuse the SEC of exceeding its authority.

Despite the SEC and its chairman taking actions and making public statements, the agency has launched a regulatory crackdown on crypto companies. The SEC has exceeded the authority granted by Congress, attempting to classify cryptocurrencies as investment contracts to bring them under SEC regulation.

In addition to Nebraska and Kentucky, the participating states include Arkansas, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Montana, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, and West Virginia.

Gary Gensler hints at possible departure from the SEC

According to market news, SEC Chairman Gary Gensler has hinted in a statement that he may leave the SEC.

"What are the must-read articles from the past 24 hours"

As SUI hits new highs, discussing the differences among the three Move public chains from a user perspective

On November 14, SUI broke through 3.5 USDT, reaching a new historical high; Bitwise will launch Aptos Staking ETP on the Swiss Stock Exchange; the Movement mainnet is about to go live… Beyond EVM, Solana, and BTC, a vibrant new ecosystem is rising, and the "Move public chains" are gradually gaining momentum.

Sui, Aptos, and Movement are often discussed together because they are all public chain platforms that support smart contracts in the Move language, known as "Move public chains." Among them, Sui and Aptos are Layer 1 public chains, with most team members coming from the blockchain project Diem/Libra (which was halted due to regulatory pressure) initiated by Facebook (now Meta), both successfully raising hundreds of millions and launching their mainnets, ranking high in market capitalization; while Movement is a Layer 2 built on Ethereum, aiming to bring the Move language into the ETH ecosystem. Movement has raised tens of millions and is currently in the testnet phase.

Despite being "Move public chains," the differences among the three are much greater than most people imagine. The author holds SUI and APT and is deeply involved in both ecosystems. As Move Chains gradually gain momentum, I hope this article can provide readers with some previously unnoticed information to aid in their research and judgment.

Vitalik's 42 Days in Chiang Mai

Chiang Mai, an internationalized rural area, is where Vitalik recently stayed for about 42 days. For someone who flies an average of 55 times a year and is almost always "moving," staying in one city for such a long time is rare.

During these 42 days, a bottom-up, decentralized, and increasingly populous social life experiment took place, ultimately attracting over 1,000 blockchain practitioners from around the world to Chiang Mai, spontaneously forming 8 or 9 cities and villages (Pop-Up City). They aimed to establish a "Web3 City" lasting six weeks.

Vitalik described it as Zuzalu 2.0. Since he initiated the first "pop-up city experiment" Zuzalu in the Republic of Montenegro in 2023, he has been looking for ways to continue this social experiment. "Watching the development of Zuzalu 2.0 feels like watching my son grow up step by step," Vitalik told me.

The crypto industry often wears two distinct faces: one face is filled with various high-risk financial transactions and activities, while the other face is characterized by idealists attempting to create a new "utopia" based on blockchain's decentralization and incentive mechanisms.

AI + DAO New Play: When Robot KOLs Start Managing Millions of Dollars in Assets

Conscious memes are trending, and one in particular has caught our attention.

It lies at the intersection of finance, social networks, and meme assets.

@ai16zdao created a portfolio that doubled in value without any trading. How did they do it? We conducted an in-depth study.

First, let's look at the data. ai16z started with just under $100,000 on the @daosdotfun platform.

As creators used Eliza assets for their own robots, the asset management scale has skyrocketed to $1.9 million. Why is this happening? Because it helps increase the exposure of the assets themselves.

It's somewhat akin to Snoop Dogg's approach to purchasing in the metaverse.