The USDC Treasury has minted an additional 500 million USDC on the Solana blockchain.

On November 17th, according to the report from BlockBeats (https://blockbeats.com/newsflash/), the Web3 financial platform Takadao, which is headquartered in Riyadh, Saudi Arabia and has offices in Singapore, announced the completion of a seed round financing of $1.5 million. The participants include Hasan VC (Malaysia), Syla Invest (France), Wahed Ventures (UK), Ice Blue Fund (Japan), Istari Ventures (USA), Adverse (Saudi Arabia), and Draper Associates from Silicon Valley, USA as a follow-on investment. The total amount of funds raised has now reached approximately $3.1 million (including the previous pre-seed round and other investments). Furthermore, during this announcement, Takadao also launched the LifeCard - a prepaid VISA card that enables users to spend stablecoins like cash at any location that accepts VISA.

On November 17th, according to The Kobeissi Letter, the correlation between Bitcoin and the Nasdaq 100 Index over a 30-day period has reached approximately 0.80, which is the highest level since 2022. This is also the second-highest reading in nearly 10 years. It is reported that over the past 5 years, the correlation between the two has always been positive, with brief fluctuations occurring in 2023. As a result, the 5-year correlation between Bitcoin and the Nasdaq index has reached 0.54. In contrast, the correlation between Bitcoin and cash and gold is close to zero. The performance of Bitcoin is increasingly similar to that of a leveraged tech stock.

On November 17th, as per the monitoring of LookOnChain, due to the increase in the price of ZEC, the address (0x7B7...734E) related to Roobet and Stake.com of a gambler has had part of its short positions liquidated, with a total loss exceeding $3.28 million. Their current positions are as follows: 73 BTC, with a value of $122.5 million and a liquidation price of $95,764. 34 ZEC, with a value of $16.75 million and a liquidation price of $757. 5.6 million XRP, with a value of $12.5 million and a liquidation price of $2.42.

On November 17th, as monitored by Hyperinsight, the on-chain whale activities within the past 24 hours are as follows: Early this morning, the "buddy" witnessed the complete liquidation of his 25x ETH long position, incurring a loss of approximately $3.6 million. Subsequently, he reopened a 25x ETH long position, and 15 minutes ago, he was adding to his long position. As of the time of this writing, his long position holds 3900 ETH and is currently showing an unrealized gain of $286,600. The whale address that "once borrowed to short 66,000 ETH" last night deposited another 26,000 ETH into Binance, which is approximately worth $82.47 million. The largest ZEC short position on Hyperliquid is currently at a floating loss of over $22.04 million. This address has been holding this position for more than a month, and early yesterday morning, it added 5 million USDC to the account to increase the collateral.

November 17th. The privacy network Zcash (ZEC) has witnessed a rise in on-chain transactions recently. In the past 24 hours, there were a total of 44,505 transactions. On November 13th, the transaction volume reached a recent peak of 73,862. In October, the average daily transaction volume was approximately 10,000. Before the price surge of ZEC at the beginning of October, the average daily transaction volume was around 3,000. Furthermore, in the past 24 hours, the Zcash mainnet has seen a trading volume of 1,679,199 ZEC, which is approximately equal to 1.17 billion USD. According to HTX market data, ZEC is currently priced at $716, with a 24-hour growth rate of 1.62%. When the well-known Silicon Valley angel investor Naval described "ZCash as insurance for Bitcoin" on October 1st, ZEC was priced around $75.

On November 17th, Raoul Pal, the co-founder and CEO of Real Vision, wrote that this week the Fed is very likely to be compelled to "fix the plumbing" in order to prevent a funding crisis at the end of the month and the end of the year. Crypto currently resembles a margin call, and the price reflects a "plumbing failure" discount. The U.S. stock market is temporarily supported by repo and year-end window dressing. However, if the issue is not resolved immediately, the 2018/19 script could play out at any time. The deeper battlefront is at the Treasury Department: the Treasury now desires to control liquidity through banks (by increasing loans to benefit the general public) instead of relying on the Fed's quantitative easing. This enables fiscal policy and monetary policy to remain in alignment in stimulating the key goals of the general public while still allowing Wall Street to benefit from currency devaluation, thereby increasing collateral value. The benefits of quantitative easing