Crypto Mountains

💰 Bitfufu Secures $100 Million Credit Line from Antpool Technologies ➡️ Singapore-based cloud mining service Bitfufu has secured a $100 million credit line from Antpool Technologies to bolster its bitcoin holdings. This move comes as part of Bitfufu's ambitious growth strategy, entering into a two-year Master Loan Agreement (MLA) with Antpool. The agreement provides Bitfufu with potential access to $100 million in capital for general corporate purposes, including possible acquisitions and maintaining its bitcoin reserves. 🟥 Established in 2020, Bitfufu operates as a cloud mining platform that allows users to purchase mining contracts for access to mining power without the need for physical hardware. The company has a strategic partnership with Bitmain, a leading cryptocurrency mining hardware manufacturer, which includes a 10-year global mining hosting agreement and access to necessary equipment and infrastructure. 💸 The MLA stipulates an annual interest rate of 6.5%, with the loan secured by a portion of Bitfufu’s bitcoin holdings at a 70% loan-to-value ratio. Antpool will hold custody of the collateralized bitcoin, aligning the financial interests of both companies with the stability and potential appreciation of these assets. As of now, Bitfufu has not yet utilized the funds available under this loan agreement. 📈 Bitfufu made its debut as a publicly traded company on the Nasdaq on March 1, 2024, following a partnership with Arisz Acquisition Corp.. Now operating as Bitfufu Inc. under the ticker symbol “FUFU” for its Class A ordinary shares, the company claims to operate over 17 mining farms worldwide with a hosting capacity exceeding 370 megawatts, supporting more than 130,000 ASIC miners across its facilities.

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⚡️ Partnership Announcement: Thetan World x Avalanche 🚨 Avalanche has partnered with Thetan World, signaling strong growth potential for this GameFi project. This alliance supports Thetan World’s mission to bridge Web2 games into the Web3 world. With a Free NFT offering potential earnings of up to $2 daily, Thetan World is committed to rewarding its community while innovating the GameFi space. 🔸 Claim a FREE NFT and see why Avalanche believes in Thetan World!

📈 Bitcoin's Record High: A Turning Point for Crypto 🌍 Bitcoin and the cryptocurrency market are at a crucial juncture, according to a Binance executive. Vishal Sacheendran, head of regional markets at Binance, shared his insights following Bitcoin's recent record high. He described this moment as

a pivotal moment, highlighting the continued strength and evolution of the crypto market.

💪 Sacheendran emphasized that this achievement underscores Bitcoin's enduring appeal and its established role as a secure asset for both experienced and new investors. He noted that Bitcoin's place in diversified portfolios reflects its reliability and the growing acceptance of digital assets as mainstream investment options. 📈 He expressed optimism about the increasing recognition of digital assets for financial independence and portfolio diversification.

As more people recognize the value of digital assets for financial independence and portfolio diversification, we expect to see a further surge in interest in the asset class,

he stated. He also mentioned that Bitcoin's influence on the global financial landscape is set to expand. ⚖️ While acknowledging the possibility of short-term volatility, Sacheendran highlighted the potential for regulatory frameworks to bring greater stability to the market. He said,

While market fluctuations may cause some short-term volatility, the prospect of clearer regulatory frameworks has the potential to drive long-term stability and growth in the crypto space.

➡️ His comments came after the recent U.S. presidential election on November 5, where Donald Trump won against Vice President Kamala Harris. During his campaign, Trump adopted a pro-crypto stance, promising to make the U.S. the “crypto capital of the planet” through deregulation and policies aimed at attracting institutional investors to Bitcoin. He also supported blockchain initiatives like World Liberty Financial, indicating strong backing for the sector's growth.

🌍 Welcome to Liberland – The Nation of Freedom, Transparency, and $LLD! Imagine a country with minimal government, voluntary taxes, and full transparency! Founded in 2015, Liberland operates on libertarian values, empowering individuals through blockchain-powered governance and economic freedom. $LLD, the Liberland dollar is more than a currency—it’s your key to influence. Voluntary taxes let you support what matters, and every vote, transaction, and decision is visible on the blockchain. Holding $LLM gives you a voice in Liberland’s future, with elections every 3 months to ensure true democracy. 🚀 Ready to join the revolution? Embrace $LLD and be part of a society that values freedom, transparency, and innovation. Join Liberland today! 🌐✨ 👉 Read more at Telegram & Twitter

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RTPay: The First Telegram Crypto Card! Claim It Free, Use It, and Join 100 Lucky Winners of $50! If you’re ready to go all-in with crypto, Ready to Pay by Usyk’s team packs a punch! This free card is set up directly in Telegram, letting you pay with crypto anywhere that accepts Mastercard — quick and easy, without extra apps or hidden fees. Cool perk for new users! In December, 100 users will be randomly selected to receive $50 on their card. To enter, simply top up with $10 and make any purchase with Apple Pay or Google Pay. ● Why Ready to Pay is a game-changer: ● No fees, no hassle — ready to use instantly and completely free ● All in one place — keep your crypto payments right in Telegram ● Global reach — works anywhere that takes Mastercard, from stores to online ● Earn as you go — bring in friends, collect RTF tokens, and enjoy cashback on their spending Ready to Pay is Usyk’s way of giving you the winning edge in crypto payments. Get your card, step into the ring, and make every payment count! 💳 Get started here: @RT_Pay_bot

🌐 Bahrain's Strategic Move in Digital Finance 🌟 Bahrain-backed Singapore Gulf Bank has introduced digital asset custody and trading services, positioning Bahrain as a key player in the digital finance sector and facilitating connections between Asian and Middle Eastern markets. 📈 The bank's new offerings include digital banking services for corporate clients, allowing them to manage both traditional and digital assets on a unified platform. This initiative was announced during an investment forum focused on the Gulf Cooperation Council (GCC)'s investment opportunities. 🗣 Edmund Lee, the bank's Founding Chairman, emphasized the importance of this development:

We are laying the foundation for an era where traditional and digital finance converge.

🌍 Noor bint Ali Al-Khulaifi, Bahrain’s Minister of Sustainable Development, underscored the country's role in enhancing connectivity between Asian and MENA markets. She stated,

As the digital economy continues to grow, our kingdom will serve as a gateway connecting Asian enterprises with opportunities across traditional and digital financial markets.

🔗 Khalid Humaidan, Governor of the Central Bank of Bahrain, noted that the launch of these services by Singapore Gulf Bank reflects Bahrain's commitment to promoting innovation while maintaining regulatory standards. 💼 Supported by the Bahrain sovereign wealth fund Mumtalakat and Whampoa Group, Singapore Gulf Bank is poised to become a crucial link between conventional financial services and the digital asset economy.

Trump has just won the U.S. Presidential Election! Have you heard about LOGX? They were the pioneers in listing leveraged prediction markets for the U.S. election, and they’ve been making waves. After a recent 70% surge this week, I took advantage of the dip to add to my position. Target prices: 🎯 0.03826 🎯 0.04525 🎯 0.05448 Let’s see where this goes!

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WhiteBIT Launches a Real Bull Run. Are You In? To celebrate its 6th birthday, WhiteBIT is launching a new Telegram app called Bull Run, where cryptocurrencies are drawn daily, and the total prize pool of the campaign is up to the equivalent of 30,000 USDT in various assets. Take part in virtual bull races throughout November, top the standings, and win your share of the awesome prize pool!

➡️ Memecoins, Market Manipulation, and Michael Saylor's Controversial Comments 🎉 Last week in the crypto world was filled with excitement, from the influence of memecoins to allegations of market manipulation involving Polymarket, and Michael Saylor's controversial remarks about custodial bitcoin. 💫 Memecoins continue to demonstrate their power in the market. Many serious traders and builders have been discussing them enthusiastically, showing that even the most serious individuals can be drawn in by their appeal. Two notable memecoins currently in the spotlight are FARTCOIN and KWIF, which are both humorous and intriguing. 📉 This week, Polymarket faced criticism due to its prediction market showing Trump leading in comparison to polls. Skeptics, particularly from mainstream media, accused it of market manipulation, claiming that wealthy individuals with agendas were skewing the odds. However, it's important to remember that anyone can take the opposite side of those bets.

If you think people are using millions of dollars trying to influence an outcome instead of making predictions, you should take the other side!

🔍 A more legitimate criticism of Polymarket is that it publishes its trading volume while obscuring open interest (OI). This could create a false perception of robust market depth. Despite this, Polymarket still has the most liquid betting market for the U.S. presidential election. 📊 Two papers were released this week from central bank-affiliated individuals criticizing Bitcoin. The first claimed Bitcoin exacerbates wealth inequality, while the second argued that prohibiting Bitcoin could help governments manage permanent primary deficits. 🤪 Michael Saylor stirred controversy with his comments suggesting that custodial bitcoin is safer from government seizure. He dismissed those who disagreed as "paranoid crypto anarchists." This sparked widespread backlash, including a response from Vitalik who called Saylor's remarks

batshit insane.

💰 On a positive note, payments company Stripe acquired stablecoin platform Bridge for $1.1 billion. This marks the largest acquisition in the crypto industry to date and legitimizes crypto to Silicon Valley funds and companies that are still uncertain about it.

💰 MicroStrategy Poised for Profitability by 2025 📈 MicroStrategy may soon transition to profitability due to its significant Bitcoin holdings and expected changes in crypto asset accounting rules. A recent Bloomberg report indicates that new standards permitting firms to value digital assets at market prices could enable MicroStrategy to shift from negative to positive earnings by 2025. ➡️ The company's extensive Bitcoin reserves, acquired under Chairman Michael Saylor's strategy to mitigate inflation, could play a crucial role if revalued at current market rates. Analysts suggest that adjusting Bitcoin's valuation on MicroStrategy's balance sheet could add billions to its reported income. 📊 Lance Vitanza, managing director of equity research at TD Cowen, remarked on the potential stabilization of MicroStrategy's stock performance following its recent surge. He stated,

I think that the stock is going to stop skyrocketing

and projected that the stock price will settle between $200 and $215. 🔄 Analyst estimates suggest that MicroStrategy could achieve a net income of $2 billion next year, a significant turnaround from the anticipated $200 million loss for this year. Mark Palmer, managing director at Benchmark Co., expressed optimism about the company's financial outlook, stating,

The company will be in a position pretty much overnight to flip from negative earnings to positive earnings

📈 The recent rise in Bitcoin's value to $71,995, marking a 7.9% weekly gain and a new all-time high against the euro, underscores the favorable market conditions for MicroStrategy's Bitcoin-heavy portfolio. This potential shift towards profitability could make MicroStrategy eligible for inclusion in more investment indexes, thereby expanding its investment reach and appeal. 💼 With over $18 billion in Bitcoin, MicroStrategy stands as one of the largest corporate investors in the cryptocurrency space.

🎃 Unlock SEED’s Spooky Codes If You Dare! 👻 This Halloween, SEED YouTube has more than just videos – it’s full of spooky surprises! 🤯 Each video hides a secret code, waiting to be spotted by watchful Seedizens. ℹ️ Keep a close eye on every second, and you’ll see letters pop up on screen. Once you've cracked the code, enter it in the ▶️ Academy Section ▶️ and enjoy your rewards! So, Seedizens, get ready to jump into the videos and search for these hidden letters. You never know what rewards are waiting! 🌈

☠️ Here’s a hint: the more codes you collect, the more rewards you earn!

FINDING THE HIDDEN LETTERS 👻

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📈 Hong Kong to Launch Benchmark Indices for Bitcoin and Ethereum 🌐 Hong Kong's bourse operator, HKEX, is set to enhance its role as Asia's digital asset hub by launching benchmark indices for Bitcoin and Ethereum on November 15. This initiative aims to address the global price discrepancies of virtual assets and provide investors with real-time benchmark prices to aid their decision-making. 💱 The HKEX Virtual Asset Index Series will include volume-weighted indices for Bitcoin and Ethereum, denominated in US dollars and updated in real-time. It will also feature daily exchange rates calculated at 4:00 pm Hong Kong time for settling financial products. This series will adhere to the European Union’s Benchmark Regulation (BMR) standards and will be managed in collaboration with a UK-registered benchmark administration entity, with contributions from CCData, a specialist in virtual asset data and index services. 📊 This launch aligns with Hong Kong's 2022 policy to build a robust virtual asset ecosystem and is expected to increase public awareness of virtual asset investment patterns through accurate, real-time data. Key components of this transformation include establishing licensing requirements for virtual asset service providers and formulating crypto regulations. 🛡 The Securities and Futures Commission (SFC) has played a crucial role in expanding retailv investor access to virtual assets by introducing mechanisms like Exchange Traded Funds (ETFs) for cryptocurrencies. Additionally, the SFC is expediting the licensing process for Virtual Asset Trading Platform (VATP) applicants with provisional approval. This accelerated process will involve on-site assessments and discussions with the senior leadership of these entities, with the regulator expecting to issue the first round of official licenses to VATP applicants before the year ends.

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💰 US Government-Linked Crypto Wallet Hacked for $20 Million 🚨 A crypto wallet associated with the US government, which contained Bitfinex seized funds, was reportedly hacked on Thursday, resulting in a loss of $20 million. According to blockchain intelligence firm Arkham, hackers drained Tether (USDT), USD Coin (USDC), aUSDC, and Ethereum (ETH) from the wallet. The stolen stablecoins were converted into ETH and transferred to multiple addresses labeled "Binance Deposit." Arkham suggests that the hacker has already started laundering the stolen funds through suspicious addresses linked to money laundering services. ⏳ Minutes before the hack, the US government withdrew $5.4 million from Aave, marking its first activity on that address in eight months. Additionally, another $1.12 million in Tether (USDT) was also pulled out. This timing raises questions about the security of government-linked crypto assets. 🔍 Blockchain investigator ZachXBT described the hack as "nefarious" and indicated that the flow of funds suggests theft was involved. This incident highlights the vulnerabilities even government-associated wallets face in the cryptocurrency space. ↪️ The hacked wallet was previously linked to a 2016 incident where a duo stole 120,000 Bitcoin (BTC), valued at approximately $8.2 billion today. The US Department of Justice seized these assets, marking it as one of the largest crypto seizures at that time. Investigators noted that the hacker's wallet used 1inch, an exchange aggregator, to swap stablecoins for Ethereum. 🔗 After the conversion, the Ethereum was shuffled in $40,000 chunks to a Binance deposit address. However, ZachXBT clarified that this was not a direct transfer to Binance but rather to "a nested exchange which uses Binance for liquidity." This incident underscores the complexities of tracing crypto transactions and the ongoing challenges in combating cryptocurrency-related crimes.