Uncovering the Dark Side of Bitcoin

PANews reported on November 3rd that, according to Bloomberg, the reverse merger between Animoca Brands and Currenc Group Inc. is expected to close in 2026. This transaction marks Animoca's return to the public market after being delisted from the Australian Securities Exchange in 2020 for violating listing rules. The Currenc merger is subject to approval from regulators in the United States and Australia (where Animoca's corporate entities are located), and also depends on Animoca's ability to provide audited financial statements for the past few years. Xiao Yi stated that Animoca is profitable but has not yet released its financial results for this year. Although both parties have signed a letter of intent, the final merger agreement is still being finalized. The two companies have agreed to a three-month exclusivity period to finalize terms, and Currenc, which provides remittance and other financial services, plans to divest some of its businesses during the merger process. Executive Chairman Yat Siu stated that Animoca, with over 700 employees, also plans to open an office in New York. He added that US President Donald Trump's support for the cryptocurrency industry was a significant factor in this decision. Previously, it was reported that Animoca Brands planned to pursue a Nasdaq listing through a reverse takeover .

The post Wormhole Jumps 11% on Revised Tokenomics and Reserve Initiative appeared on BitcoinEthereumNews.com. Cross-chain bridge Wormhole plans to launch a reserve funded by both on-chain and off-chain revenues. Wormhole, a cross-chain bridge connecting over 40 blockchain networks, unveiled a tokenomics overhaul on Wednesday, hinting at updated staking incentives, a strategic reserve for the W token, and a smoother unlock schedule. The price of W jumped 11% on the news to $0.096, though the token is still down 92% since its debut in April 2024. W Chart In a blog post, Wormhole said it’s planning to set up a “Wormhole Reserve” that will accumulate on-chain and off-chain revenues “to support the growth of the Wormhole ecosystem.” The protocol also said it plans to target a 4% base yield for governance stakers, replacing the current variable APY system, noting that “yield will come from a combination of the existing token supply and protocol revenues.” It’s unclear whether Wormhole will draw from the reserve to fund this target. Wormhole did not immediately respond to The Defiant’s request for comment. Wormhole emphasized that the maximum supply of 10 billion W tokens will remain the same, while large annual token unlocks will be replaced by a bi-weekly distribution beginning Oct. 3 to eliminate “moments of concentrated market pressure.” Data from CoinGecko shows there are over 4.7 billion W tokens in circulation, meaning that more than half the supply is yet to be unlocked, with portions of that supply to be released over the next 4.5 years. Source: https://thedefiant.io/news/defi/wormhole-jumps-11-on-revised-tokenomics-and-reserve-initiative

PANews reported on November 3 that Deng Chao, CEO of HashKey Capital, stated at the "Reshaping Vault Strategies with Digital Assets" roundtable during Hong Kong Fintech Week that the best time for institutions to enter the crypto market has arrived as the regulatory system and professional infrastructure mature. Deng Chao pointed out that since 2018, HashKey has managed multiple institutional funds, witnessing the industry's journey from early exploration to institutional development. Now, with the continuous improvement of regulatory frameworks in Hong Kong and Singapore, compliance and professionalism are becoming new turning points in blockchain finance. He further stated that HashKey, operating globally and complying locally, started in Hong Kong and continues to expand into the Asian, Middle Eastern, and European markets, committed to building a globally-oriented institutionalized digital asset ecosystem. In his view, the key trend for the next stage will be the deep integration of Real-World Assets (RWA) and Digital Asset Treasurys (DAT). "The internet carries information, while blockchain carries value," Deng Chao summarized. "Anything of value should ultimately be put on the blockchain."