PA Daily | Two Ethereum researchers resigned as EigenLayer consultants due to neutrality issues; some smart money built a position in Pnut at a low price and made a profit of about $1.64 million

Today's news tips:

1. Russian cryptocurrency mining regulations come into effect, enacting strict new rules

2. Two Ethereum researchers resigned from EigenLayer advisory positions due to doubts about their neutrality

3.Ink: Stress testing the test network

4. Web3 and crypto security incidents in October resulted in $147 million in losses

5. A smart money bought Pnut at a low point and has made a profit of about $1.64 million

6. Multi-chain lending agreement Radiant Capital restores Base network lending market

7.Robinhood Crypto now supports DOGE token transfers

Regulation and Policy

Russia's cryptocurrency mining regulations come into effect, setting strict new rules

According to News.bitcoin, Russia's comprehensive cryptocurrency mining regulations came into effect on November 1, reforming the industry with strict energy caps, mandatory registration, and strict supervision. The law officially defines mining as a legal activity in Russia, stipulates safety and operational requirements for miners, and creates a structure for trading digital financial assets on specially approved platforms. The framework is designed to provide clarity and supervision for Russia's growing cryptocurrency industry in the face of growing energy demands and concerns about illegal mining activities.

Under the new regulations, only registered organizations and individual entrepreneurs can legally engage in cryptocurrency mining. However, individual Russian citizens who are not officially registered as entrepreneurs can also engage in mining, but their electricity consumption is capped at 6,000 kWh per month. If they exceed this limit, they will need to register as entrepreneurs to continue their mining activities. This approach ensures that smaller individual mining operations remain viable while imposing stricter requirements on larger, potentially commercial operations. The regulations also establish detailed reporting obligations for miners, requiring them to disclose the total amount of digital currency mined to the Federal Tax Service (FTS) and provide address identifiers for each transaction. This information will only be accessible to law enforcement agencies, ensuring a certain level of privacy while enabling oversight. In addition, miners must ensure that their operations meet standards of reliability, security, and power stability to reduce risks to the local power grid.

Musk: Republicans are expected to win in Pennsylvania, which accounts for about 10% of the total electorate

Musk said on the X platform that the Republicans are expected to win in Pennsylvania. The gap between 2024 and 2020 is more than 600,000, which is almost 10% of the entire electorate.

Project News

Two Ethereum researchers resign from EigenLayer advisory positions due to questions about their neutrality

According to The block, two Ethereum researchers, Justin Drake and Dankrad Feist, announced at the same time that they would resign from their positions as consultants for the Ethereum re-staking protocol EigenLayer after receiving a large amount of Eigen token compensation, which raised questions about conflicts of interest. "I would like to apologize to the Ethereum community and my colleagues at the Ethereum Foundation for the inconvenience I caused," Drake wrote in the statement. "In hindsight, this was a wrong move on my part."

JPMorgan: Meme and AI-related tokens outperform overall crypto market on ‘animal spirits’ indicators

According to Jinshi, JPMorgan analyst Nikolaos Panigirtzoglou pointed out in a report this week that the spot Bitcoin ETF attracted $1.3 billion in new investor funds in the first two days of this week, bringing its total inflows for October to $4.4 billion, making it the third largest month of net inflows since the spot Bitcoin ETF was listed in January. In another indicator measuring the "animal spirits" of retail investors, meme stocks and artificial intelligence-related tokens also outperformed the overall cryptocurrency market.

It is reported that the concept of "animal spirits" was proposed by economist Keynes, who emphasized the impact of investor sentiment and psychological factors on the market. He believed that the stock market was driven by investor confidence and expectations. When investor confidence increases, the stock market usually performs well; when investor sentiment is low, the stock market may fall.

Robinhood Crypto now supports DOGE token transfers

Robinhood Crypto EU posted on the X platform that Robinhood Crypto now supports DOGE token transfers, deposits and withdrawals.

Asset management company Strive has established a wealth management department and included Bitcoin in its standard investment portfolio

According to The block, asset management company Strive Enterprises, co-founded by former presidential candidate and current Trump agent Vivek Ramaswamy, announced the establishment of a wealth management business. The company aims to integrate Bitcoin into "Americans' everyday standard investment portfolios" to hedge against unsustainable global debt levels, rising fixed income yields, long-term inflationary pressures, continued geopolitical pressures, and potential restrictive currency controls.

The launch comes on the heels of Strive’s $30 million Series B funding round led by Cantor Fitzgerald, the firm that funds Tether and whose CEO Howard Lutnick is a vocal advocate for Bitcoin and will serve as co-chair of the transition team if Donald Trump is re-elected president.

Multi-chain lending protocol Radiant Capital restores Base network lending market

Multichain lending protocol Radiant Capital said on the X platform that following the successful resumption of the Ethereum market from suspension this week, the Base market has also been restored and is fully operational. The delay was due to the need for additional transactions after the activation of the time lock, involving the transfer of the emergency administrator role to a new multisig. This multisig is now in use and is only used for emergency situations, with its authority limited to pausing and resuming the market when necessary.

Earlier news , Radiant Capital suspended its loan market due to a vulnerability attack, with an estimated loss of approximately US$58 million.

Ink: Stress testing the testnet

Kraken’s network Ink is being stress-tested before the official testnet launch, according to X Platform. Early access to the testnet is available on Discord.

Important data

Web3 and crypto security incidents led to $147 million in losses in October

According to Crowdfund Insider, Web3 security incidents in October resulted in a total loss of approximately $147 million. According to SlowMist statistics, 28 independent attacks caused losses of approximately $129 million, of which $19.3 million was later recovered. These incidents involved various abuses, including so-called exit scams, account takeovers, and price manipulation. In addition, Web3 anti-fraud platform Scam Sniffer recorded 12,058 phishing victims, who lost up to $18.04 million last month alone.

Stablecoin market grew by $555 million in October, with Tether (USDT) accounting for 69.71% of total market capitalization

According to News.bitcoin, stablecoins saw a small increase in October, with the market slightly rising from $172.337 billion to $172.892 billion, a month-on-month increase of 0.32%. The leading existence is Tether (USDT), with a market value of $120.522 billion, equivalent to 69.71% of the total value of stablecoins, and the supply of USDT increased by 0.7% month-on-month. In second place, USDC has a market value of $34.629 billion, a decrease of 1.9% month-on-month. DAI experienced a 2.9% decline in October, reaching a market value of $4.887 billion. Ethena's USDE ranked fourth, with a market value of approximately $2.755 billion, an increase of 8.7% month-on-month. Meanwhile, the fifth largest stablecoin FDUSD fell by 10.78% month-on-month, with a market value of approximately $2.156 billion.

A whale spent 9,600 SOL to buy Pnut and FRED about 6 hours ago

According to Lookonchain monitoring, 6 hours ago, a whale spent 9,600 SOL ($1.56 million) to buy Pnut and FRED. The whale spent 5,100 SOL ($831,000) to buy 8.99 million Pnut at $0.092, and spent 4,500 SOL ($736,000) to buy 69.88 million FRED at $0.01. The three wallets associated with this whale currently hold a total of 484,303 SOL (78.94M).

A smart money bought Pnut at a low point and has made a profit of about $1.64 million

According to @ai_9684xtpa monitoring, smart money GmM5U...Hu9vB opened a position of $Pnut at a low point, costing $44,851 and has made a profit of $1.64 million, with a return rate of 3668%. He opened a position of 29.65 million tokens at an average price of $0.0015 during 11.01-11.02, and has now sold nearly 90% of his position.