Argentine Congress Investigation Committee Accuses President Miller of Involvement in the LIBRA Scam
On November 21st, the Investigative Committee of the Argentine Congress released its final report, alleging that President Mile provided "key cooperation" during the event of the LIBRA token collapse and recommended that Congress assess whether this constitutes malfeasance.
Mile had previously promoted the LIBRA token on his personal social media accounts. Subsequently, 8 wallets associated with the LIBRA team cashed out $107 million, resulting in losses for 114,410 investor wallets. The investigation revealed that he had also promoted a cryptocurrency called the KIP Protocol. After its launch in December 2024, there was a situation where its liquidity pool was drained.
The committee believes that this shows the government's intention to bypass regulatory bodies such as the National Securities Commission (CNV) to facilitate these projects. Currently, Mile and American entrepreneur Hayden Davis, along with other founders, are facing judicial investigations in Argentina and a class-act
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「Previously Shorted 66,000 ETH」 Whale Increases Holdings with Additional 162 Million USD Worth of ETH, Totaling 432,718 ETH Held
On November 21st, as monitored by OnchainLens, the whale address that "previously borrowed coins to short 66,000 ETH" once again purchased $1.6277 billion worth of ETH from Binance and continued to deposit it into Aave V3. Just 5 days prior to this, the entity had deposited 70,000 ETH (valued at $2.2272 billion) into Binance. Currently, it holds a total of 432,718 ETH, which is approximately valued at $1.23 billion based on the market price.
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Federal Reserve Hawks Unite to Voice Concerns, Asset Price Plunge Risk Could Become a New Rate Cut Hurdle
On November 21st, when Federal Reserve officials discuss the timing of a rate cut or whether to cut rates at all, concerns about financial market stability, including the risk of a sharp decline in asset prices, are emerging as a new theme. Federal Reserve Governor Lisa Cook outlined a series of financial system risks, such as the rapid growth of the private credit market, hedge fund trading in the government bond market, and the use of generative artificial intelligence in algorithmic trading. She also suggested that she would not be surprised by a collapse in asset prices that are at historically high levels.
Cleveland Fed President Beth Hamack reiterated her opposition to further rate cuts, citing persistently high inflation and stating that she believes that accommodative financial conditions are another reason to resist cutting rates.
Federal Reserve Governor Michael Barr said on Thursday that the Fed needs to be cautious when considering further rate cuts.
Meanwhile, Chicago F
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JPMorgan Chase: Strategy Stock Faces Potential Outflow of Billions If Delisted From Index
On Thursday, November 21st, JPMorgan stated in a report that if the global index provider MSCI were to exclude Bitcoin "treasury giant" MicroStrategy (MSTR) from its stock indexes, the potential outflow of funds could reach as high as $2.8 billion. If other exchanges and index compilers were to follow suit, the total outflow could amount to $11.6 billion.
The analysis indicated that the recent decline in MSTR's stock price, coupled with this year's overall weak performance, is mainly due to market concerns about its possible removal from MSCI, as well as from indexes like the Nasdaq 100 and Russell 1000, rather than because of Bitcoin's own price drop.
The analyst wrote, "It is precisely because of being included in these indexes that Bitcoin's exposure has indirectly entered retail and institutional investors' portfolios. However, as MSCI is now considering removing MicroStrategy and other companies mainly holding digital assets from stock indexes, this previous indirect exposure ma
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Analysis: The recent cryptocurrency market downturn has been primarily driven by retail investors selling off Bitcoin and Ethereum, as well as the launch of a physically-backed Ethereum ETF.
On November 21st, a J.P. Morgan analyst declared that the recent pullback in the crypto market - which was particularly intensified after Bitcoin fell below the bank's estimated $94,000 production cost/support level - was primarily driven by retail investors selling off Bitcoin and Ethereum spot ETFs rather than by native crypto traders.
“In October, although crypto-native investors triggered a market pullback through significant deleveraging (especially in perpetual contracts), this deleveraging in perpetual contracts appears to have stabilized in November,” J.P. Morgan Managing Director Nikolaos Panigirtzoglou and his team wrote in a report on Wednesday. “Instead, the main force driving the continuous crypto market pullback in November is non-crypto investors, especially those retail investors who entered the crypto market through Bitcoin and Ethereum spot ETFs.”
The analyst pointed out that so far this month, retail investors have withdrawn approximately $4 billion from Bitcoin an
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Predictive Market Platform Kalshi Raises $1 Billion in Funding, Led by Sequoia and CapitalG
On November 21st, according to informed sources, the prediction market platform Kalshi has secured $1 billion in its latest funding round, with the company being valued at $11 billion. This is less than two months after the seven-year-old startup announced a $300 million funding round and a $5 billion valuation.
Insiders pointed out that this round of funding was led by Kalshi's existing shareholders, Sequoia Capital and CapitalG. Other investors also include a16z, Paradigm, Anthos Capital, and Neo.
According to Bloomberg, Kalshi's main competitor, Polymarket, was also in talks for a new funding round last month, with a valuation range of $12 billion to $15 billion. Just a few weeks ago, Polymarket completed a $1 billion funding round at an $8 billion pre-money valuation.
Since last year, both Kalshi and Polymarket have witnessed a significant rise in popularity as they both enable users to bet on the outcomes of presidential elections. Earlier this month, both platforms accurately
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