By Shikha Singh
Elon Musk-Themed ‘X Empire’ Telegram Game Token Skyrockets on Trump Win.
After recovering from an all-time low, the X token, associated with the Telegram game X Empire, surged by 53% in just 24 hours. The game, originally branded Musk Empire, pays tribute to Elon Musk and focuses on upgrading a cartoon version of him.
Following Donald Trump’s predicted victory in the 2024 U.S. presidential election, the crypto market saw a broader rise, with Bitcoin reaching new all-time highs.
X Empire’s trading volume spiked to $316 million, making it the most-traded token on The Open Network (TON) after Toncoin. Other Musk-related assets, like Dogecoin (DOGE), also saw gains, partly driven by Musk’s backing of Trump and his recent involvement in the election.
Crypto Fundraising Soars to $1.76 bn in October, Highest Since November 2023.
In October 2024, the crypto industry saw a significant fundraising surge, with $1.76 billion raised—a 96% increase month-over-month.
This marked the highest level of funding since November 2023, with 282 deals recorded—a 25% increase from September.
FTX Sues Binance and CZ for $1.8 bn in Stock Buyback Dispute.
The FTX bankruptcy estate has filed a lawsuit against Binance, seeking to recover $1.8 billion. The complaint, filed on November 10, alleges that Binance, its CEO Changpeng Zhao (CZ), and other executives received at least $1.76 billion in a fraudulent transfer from FTX.
This transaction occurred in 2021 when FTX’s co-founder, Sam Bankman-Fried, sold around 20% of FTX International and 18.4% of FTX US to Binance.
FTX’s native token (FTT) and Binance’s tokens (BNB, BUSD), which together had a value of $1.76 billion at the time, financed the buyback.
Blockchain data provider Nansen has announced its first expansion into the Bitcoin Layer-2 ecosystem by providing analytics for Bitlayer.
Bitlayer, which raised $11 million in funding in July, is based on the BitVM computing paradigm, designed to enable Ethereum-style smart contracts on Bitcoin.
This development aims to support decentralized finance (DeFi) and decentralized apps (dApps) on Bitcoin, which has traditionally lacked smart contract functionality.
Bitget Wallet launches $20 mn grant for Telegram Mini Apps.
Bitget Wallet and Foresight Ventures launched a $20 million funding program on Nov. 11 to support the development of new projects within Telegram’s Mini Apps ecosystem. The initiative aims to provide technical, operational, and marketing support to Telegram-based apps, including access to Bitget Wallet’s developer kit and user base for community growth.
Near Plans To Build World’s Largest 1.4 tn Parameter Open-Source AI Model.
Near Protocol announced an ambitious plan to build the world’s largest open-source AI model at its Redacted conference in Bangkok on Nov. 10. The 1.4 trillion-parameter model would be 3.5 times larger than Meta’s Llama model. Crowdsourced research will develop the project, allowing contributors to start with smaller models and gradually progress to more complex versions.
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