加密小象

Amazing link: link3.cc/user

The real threshold for using U to scan and pay in Thailand is 50,000 baht per month. The WORPT terms (effective September 25) state that each person can exchange up to 50,000 baht per month without having to verify the source of the funds; anything above that requires on-chain tracing.

Thailand’s Thairath reported on November 12 that this payment app for tourists is now live. It operates in the Tourist DigiPay sandbox overseen by Thailand’s SEC. WaanX handles the exchanges, while WiPay provides the e-wallet. USDT and USDC are converted into baht, which can then be used to pay by scanning PromptPay QR codes. The fee is 1.5%.

A few details are rarely mentioned. The app only accepts USDT and USDC on the Ethereum ERC-20 network, so if you usually keep your U on TRON, you’ll need to switch networks before transferring it. The wallet balance is capped at 100,000 baht, and monthly top-ups are capped at 500,000 baht. Before closing your account, any remaining baht must be converted back into crypto and withdrawn; the terms say an additional fee may apply.

I use it as a travel wallet for small expenses. U that’s changed hands several times through P2P or OTC trades is most likely to get flagged during tracing. The least stressful option is to withdraw a clean amount from an exchange before traveling and keep it under 50,000 baht per month.

#泰国推出WORPT支持游客加密货币兑泰铢消费 $USDT

Many people have overlooked the impact of this Binance hack.
Binance was hacked for $6.34 billion. Although $2.8 billion was later intercepted, the intercepted funds were mostly stablecoins, and whether they’re frozen or not won’t affect coin prices.

But the remaining $3.6 billion is different. Those are crypto assets, and the hackers will definitely sell them. Binance says it will replenish its treasury, but that money will come from its own cold wallet and SAFU fund. Essentially, that adds $3.6 billion in supply to the market.

Binance may even have to sell its own coins to make up for those stablecoin assets. In the current market, it’s hard to absorb such a large supply. Market makers propped things up for a while recently, but it now looks like they’re about to pull their orders too.
$btc $eth

My take: This PPI report is hardly good news. The “below expectations” headline missed by just 0.1 percentage points.

The U.S. Bureau of Labor Statistics reported on November 13 that October PPI rose 0.3% month over month, versus expectations of 0.4%; but the annual rate surged to 6.5%, its highest since November 2022. The core measure, excluding food, energy, and trade services, was up 0.5% month over month.

That’s how the market read it, too. After the data came out, futures continued to fully price in at least a 25-basis-point rate hike at the December 8–9 policy meeting. Nobody changed their bets on rate cuts just because the figure was 0.1 points lower. CPI beat expectations a couple of days ago; PPI was simply not as bad.

The reaction in crypto prices was the most direct. After the PPI release, BTC slid all the way to near its 200-week moving average. Today, Binance spot hit a low of 66456 and is now hovering around 67400. As long as rate-hike expectations don’t ease, a “not-so-bad” report isn’t enough to spark a rebound. Where this weekly candle closes at 8 a.m. Monday matters more than any inflation report. I’m still not adding to my position this week.

#比特币跌破200周均线 $BTC

#MANTRA因Keplr安全事件暂停解除质押7天 $MANTRA

The Keplr incident has a number worth thinking about more than the amount stolen: $5.6 million—the amount Web3Auth moved out of users’ wallets itself, before the hackers could.

Web3Auth’s official update on November 13 put it plainly: an infrastructure vulnerability was confirmed on November 7, exposing the private keys of some Keplr wallets created using Google or Apple sign-in. Web3Auth then worked with Keplr on a white-hat transfer. On November 8, The Block found about $5.6 million across 12 recovery addresses.

The goal was to protect users, but the incident also exposed how social login wallets work under the hood: part of the key is stored on someone else’s servers. If those servers are compromised, hackers and the service provider can both move your funds before you can. Keplr accounts created with a seed phrase or hardware wallet weren’t affected this time.

Last night, MANTRA also paused new unstaking across the chain for seven days because the hacker is using the private key to unstake on behalf of victims. Anyone already in the eight-day unstaking period needs to redelegate before it ends, or their tokens will fall into the hacker’s hands. Stakers who simply want to exit normally will have to wait along with everyone else.

So I only use wallets that let me sign in with one tap on an email account for small amounts. Move larger sums now to a wallet whose seed phrase you’ve written down yourself, or to a hardware wallet. And while waiting for the official return process, ignore any DMs claiming they can help you recover your funds.

#Bitmine2026财年净亏损63亿美元 $ETH

Despite Bitmine’s $6.3 billion annual loss, I actually think it’s the least likely to dump. The real concern is that the buyer sweeping up ETH every week is about to stop.

Its 10-K, filed on November 10, makes it clear: At fiscal year-end, it had $15.4 billion in total assets, just $33.7 million in liabilities, and $545 million in cash. It didn’t borrow money to buy crypto, so nobody can force it to sell. Of its 6.07 million ETH, 5.22 million are staked—and even if it wanted to sell, it would first have to wait in line to unstake them.

The problem is on the other side. Tom Lee set a target of 5% of the entire network’s supply. As of November 8, it had reached 4.97%, just about 40,000 ETH short. At last week’s pace of buying 9,587 ETH, it’ll reach the target in about a month, and then that steady source of buying will disappear entirely.

ETH is now down more than 20% this week from its book value at the end of Bitmine’s fiscal year. A major buyer that has said it will stop buying will affect the market sooner than a major holder who might sell at any moment.

I’ll wait until the weeks when it reaches its target, then see whether ETH has new buyers. There’s no need to rush in ahead of it to grab the last 40,000 ETH.

My take is that South Korea’s decision to let exchanges “suspend deposits and withdrawals first if they suspect a hack” means withdrawals from smaller exchanges may soon only be processed during business hours. Don’t leave your coins sitting on a small exchange for long.

On November 12, South Korea’s Financial Services Commission said it would issue no-action letters, allowing exchanges to suspend deposits and withdrawals as soon as they suspect a hacker attack, without waiting for it to be confirmed. Exchanges that can’t provide round-the-clock monitoring will process deposits and withdrawals only when staff are on duty, and must notify users in advance.

Gopax is already a case in point. Withdrawals were suspended at 2:55 p.m. on November 6, and they’re still unavailable on both the website and app. The only option is to email customer service with a selfie holding your ID. Requests are reviewed manually on business days from 10 a.m. to 7 p.m., and withdrawals can only go to personal wallets registered in advance. Transfers to other exchanges are temporarily unavailable.

So my approach is simple: keep only the amount I need for trading on an exchange, and move the rest to my own wallet. If you’re still using a small Korean exchange, register your personal wallet address on its whitelist now—don’t wait until withdrawals are suspended.

#韩国拟准交易所疑遭黑客停充提 $BTC

If you're holding USDT as cash, take note: USDT itself is shrinking, and faster than it did when FTX collapsed.

A November 10 report from CryptoQuant said that in the 60 days through November 7, USDT's market cap fell by $6.6 billion. Over an equally long period after FTX collapsed in December 2022, it fell by only $3.2 billion. The broader figures in Glassnode's November 11 weekly report were even larger: in the 30 days through November 9, the total stablecoin supply fell by $14.2 billion—the fastest decline since June 2022. The report also noted that USDT was trading slightly below $1.

When USDT is redeemed for dollars, money is leaving the market. A price slightly below $1 means more people want to exchange USDT for dollars and exit than want to exchange dollars for USDT and enter.

Personally, I’m more inclined to treat this as a signal about liquidity. I haven’t seen any problems with redemptions themselves. I won’t chase a rebound in this kind of market. I’ll hold on to the USDT I have and wait for the 30-day supply change to turn positive again before adding to my position.

#稳定币供应30天减少142亿美元 $BTC $USDT

Trump Media holds 15,649 BTC. Subtracting the figures in its financial report, only a little over 3 remain unpledged.

Its third-quarter report, filed on November 9, and that day's earnings call made it clear: 11,385 BTC were pledged to an options income program, and the counterparty has the right to reuse that collateral; another 4,260.73 BTC are tied up against nearly $1 billion in convertible notes.

The headline about a net increase of 1,510 BTC sounds impressive, but most of these coins are effectively tied up in contracts with others.

Starting November 30, convertible noteholders can demand repayment. Interim CEO McGurn said on the call that the plan is to repay with cash and borrowing, rather than issue more shares, while trying to preserve as much Bitcoin as possible.

That $410 million quarterly profit was recorded using a Bitcoin price of around $84,000 at the end of September. The price is now more than 10% lower.

Personally, I see this more as a debt hurdle to get past at the end of the month, and would set aside the “Bitcoin-hoarding giant” label for now. If they really move those 4,260 coins, the blockchain will be the first place to show it.

#特朗普媒体Q3增持1510枚比特币 $BTC

Even if tonight’s CPI comes in at the expected 0.3%, I still won’t take it as a bullish signal.

Reuters and CNBC’s forecasts on November 10 were: October CPI up 0.3% month over month, core CPI up 0.2%, versus 0.6% and 0.3%, respectively, in September. The Bureau of Labor Statistics won’t release the year-over-year figures this time because prices weren’t collected during last October’s government shutdown. The 3.9% and 4% figures circulating online are interpolations estimated by institutions, so using them to judge whether the data beat expectations gets us off on the wrong foot.

The only figure that will really determine direction is that one decimal place in the month-over-month reading. The probability of a 25-basis-point rate hike in December is already around 80%. Bank of America economists think that unless the monthly figure comes in as low as 0.1%, it will be hard to stop that December move. A 0.2% reading would simply mean things haven’t gotten worse; 0.3% would confirm the bad news.

So I’m not adding to my position before the data comes out. If the monthly figure really does come in as low as 0.1%, I’ll consider following through. Waiting half an hour to see the result won’t mean missing anything.

#CPIOutlook, December Rates Face a Crucial Test $BTC

A crypto seller in Hunan made just over 20,000 yuan in price differences in a little over two months, but more than 400,000 yuan in fraudulent funds passed through his account. In the end, all he got was criminal detention.
A police notice reposted by Phoenix Net Hunan on November 10 made the details clear: 42-year-old Cao Mouliang, from Hanshou County, bought and sold USDT for a profit and collected payments using the bank cards, WeChat accounts, and Alipay accounts of several people. On November 3, he was placed under criminal detention on suspicion of concealing or disguising the proceeds of crime.
A seller has no way to verify whether incoming funds are clean. But when trouble arises, it’s the card that received the money that gets investigated.
A notice issued by eight government departments in February this year also says that individuals in China who knowingly, or when they should have known, provide services to overseas platforms operating in violation of regulations will be held accountable. The informal route of exchanging crypto is only going to get narrower.
I think if you have crypto and want to convert it back into yuan, it’s better to go slower and earn a little less than to lend your card to someone else to receive payments—let alone act as a payout intermediary for that small price difference.
#USDT #反诈 $USDT

If you hold a coin flagged as “under caution” on a South Korean exchange, you may have only 17 days left.
On November 10, South Korea’s Financial Supervisory Service published a report in its journal Financial Supervisory Review. It analyzed 448 delisting notices issued by the five major exchanges from 2018 through the first half of 2026. Forty-nine notices, or 10.9%, didn’t even state a reason.
The median time from a coin being flagged for caution to trading actually stopping was 41 days. The shortest notice period was just 17 days, while the longest was 90 days.
Delistings of the same coin were also inconsistent: in 300 of 354 cases, or 84.7%, the coin was delisted on just one exchange and remained tradable elsewhere.
South Korea still has no law governing coin listings and delistings; exchanges rely entirely on self-regulation. Yet there are already 11.175 million accounts eligible to trade.
Personally, I’d treat a “caution” label as a countdown to selling. Don’t just wait around for the exchange to explain—during the first week after the label appears, decide whether to sell or transfer your coins to another exchange.
#韩国 #cryptocurrency

The scariest thing in crypto right now isn’t that a bear market has arrived and liquidity is poor—it’s that security, once touted as a selling point, is no longer secure. Exchanges, DeFi, hardware wallets, software wallets—they’ve all been compromised.

There’s nowhere left in crypto where you can safely store your funds. At this point, people can only convert to fiat and deposit it in a bank.

After the nonfarm payrolls report, there’s only one thing I’m doing this weekend: not mistaking a rebound for a turnaround.

The U.S. Bureau of Labor Statistics reported on November 6 that nonfarm payrolls rose by 165,000 in October, the unemployment rate was 4.1%, and hourly earnings increased 0.4% month over month and 3.1% year over year. August and September were also revised up by a combined 84,000. A Reuters poll had expected roughly 65,000, so these figures genuinely beat expectations.

Rate-hike expectations have been reignited across the market. I’m firmly in the camp that says not to jump the gun over the weekend. The data came out Friday night, and East Asian stock markets won’t open until Monday. Any weekend bets are bets on sentiment.

I’d rather miss the initial move at Monday’s open than go all in over the weekend just as the rate-hike narrative is being confirmed.

#非农就业数据推升加息预期 $BTC