Daily Report | Polkadot Q3 expenditure of $27 million; Sun Yuchen will deposit all PUFFER received into HTX; Metaplanet's stock price rises 480% afte

整理：Fairy，ChainCatcher

Important News:

• Polkadot Q3 Financial Report: Treasury Balance of $153 Million, Significant Decrease in Marketing Expenses
• Metaplanet's Stock Price Rises 480% Since Launching Bitcoin Investment Strategy, Four Increases in Bitcoin Holdings This Month
• Hong Kong Police's "Code Word" Arrest Operation Breaks Local Cryptocurrency Scam Group, Involving HK$360 Million
• Sui Foundation: The Seller of $400 Million SUI is Not an Insider, Likely an Infrastructure Partner
• Trump and Harris Hold Campaign Events in Pennsylvania on Monday to Win Voter Support
• Bitcoin Mining Company Bit Digital Acquires Canadian Enovum Data Center for $46 Million
• Data: Sun Yuchen Deposited 3.97 Million PUFFER Airdrop into HTX 14 Hours Ago, Currently Worth $2.85 Million

"What Important Events Happened in the Last 24 Hours"

Polkadot Q3 Financial Report: Treasury Balance of $153 Million, Significant Decrease in Marketing Expenses

Polkadot community members Alice and Bob published the Treasury operational report for Q3 2024 on the official governance forum.

The report shows that the Polkadot treasury balance is 33.3 million DOT ($153 million), with a surplus of 32.4 million DOT ($149 million) after deducting liabilities.

In terms of expenditures, the Polkadot treasury spent a total of $27 million (5.2 million DOT) in Q3, which is about half of the total expenditure in Q2 (down from $58 million to $27 million), and in DOT terms, it decreased from 8 million DOT to 5.2 million DOT.

Specifically, marketing-related expenses saw the largest decrease, dropping from $27 million to $9.9 million; development-related expenses remained stable, increasing from $10 million to $11.9 million; operational expenses also remained at a similar level, decreasing from $1.7 million to $1.4 million; talent and education-related expenses saw a slight increase, rising from $2.3 million to $3.8 million; research expenditures remained low, decreasing from $1.5 million to $310,000; no economic incentive proposals were approved this quarter.

Metaplanet's Stock Price Rises 480% Since Launching Bitcoin Investment Strategy, Four Increases in Bitcoin Holdings This Month

According to Cointelegraph, the Japanese listed company Metaplanet has doubled its Bitcoin holdings this month, making four purchases totaling over 450 Bitcoins. Today, Metaplanet announced the purchase of approximately 107 Bitcoins, worth about $6.7 million, and the company's stock price rose by 15.7%. The recent increases have brought Metaplanet's total BTC holdings to 855.5 Bitcoins.

Since announcing its Bitcoin investment strategy in early April, Metaplanet's stock price has risen by 480%. Metaplanet CEO Simon Gerovich stated that the company's Bitcoin investment strategy was inspired by MicroStrategy and its executive chairman Michael Saylor, whose company currently holds over 252,000 Bitcoins, valued at $16.45 billion. According to data from Bitcoin Treasuries, Metaplanet's Bitcoin holdings rank 23rd among publicly listed companies.

Hong Kong Police's "Code Word" Arrest Operation Breaks Local Cryptocurrency Scam Group, Involving HK$360 Million

The Hong Kong police launched a "code word" arrest operation, assisted by personnel from the Cyber Security and Technology Crime Bureau, to gather evidence related to online and cryptocurrency transactions, breaking up a local scam group involved in cryptocurrency, arresting 27 individuals, with total fraud amounting to HK$360 million. Superintendent Yao Wing-kin from the New Territories South Criminal Headquarters stated that the scam group primarily used online romantic relationships to lure victims into investing in cryptocurrencies. To defraud money, the group employed tech professionals, including local university graduates majoring in digital media, for technical support, and collaborated with overseas scammers to build a fake cryptocurrency platform.

Sui Foundation: The Seller of $400 Million SUI is Not an Insider, Likely an Infrastructure Partner

The public chain project Sui Network stated on the X platform that in response to the accusation of "Sui insiders selling $400 million worth of tokens during this surge," the Sui Foundation would like to directly address this:

1. During this period, no insiders, foundation members, or employees of Mysten Labs (including the founders of Mysten Labs) or ML investors sold $400 million worth of tokens individually or collectively. Insiders did not participate in any preemptive sales or violations of lock-up periods and circulation supply plans.

2. Although the poster did not provide a wallet address, we believe the possible owner of the wallet is an infrastructure partner who holds the tokens according to the lock-up period. All token lock-up periods are enforced by qualified custodians and continuously monitored by the Sui Foundation, and this partner complies with regulations.

Trump and Harris Hold Campaign Events in Pennsylvania on Monday to Win Voter Support

Republican presidential candidate Trump and his Democratic rival Harris held campaign events in Pennsylvania on Monday, both trying to win voter support in this key battleground state.

Trump promised to eliminate Social Security income tax and ease regulations on the energy and residential construction industries to appeal to suburban women and independent voters in Philadelphia. He believes this will free up homeownership rates by lowering inflation and interest rates. Trump stated, "You have been consumed by inflation, and what I do is restore balance to you."

Harris, on the other hand, hopes to boost her support among Black male voters by visiting Illinois, where she toured a local record and coffee shop to discuss small business ownership. Harris proposed a tax relief of up to $50,000 for newly established small businesses. Before the event, Harris announced several measures, including a new program to provide $1 million in loans for Black entrepreneurs and others facing financing barriers, with a maximum relief of $20,000.

On Monday, Harris also promised to support a regulatory framework for cryptocurrencies, providing more support for the 20% of Black Americans who own or have owned digital assets, and to work with lawmakers to legalize recreational marijuana, ensuring that Black individuals can participate in the expanding cannabis industry. Other proposals include establishing training and mentorship programs to help Black men secure high-paying jobs.

Bitcoin Mining Company Bit Digital Acquires Canadian Enovum Data Center for $46 Million

Bitcoin mining company Bit Digital (BTBT) announced the acquisition of the Enovum data center located in Montreal, Canada, for $46 million, which is a Tier 3 high-performance computing (HPC) facility. According to investor reports, the data center is "100% leased, with a contract stipulating a capacity of 4 megawatts."

The funding for this acquisition primarily comes from its cash reserves, as well as approximately 1.62 million newly issued BTBT shares. It is currently unclear whether Bit Digital liquidated any of its digital assets to fund this transaction. As of June 30, the company reported cash of $61.7 million and held Bitcoin and Ethereum valued at $118 million as of September 30.

Nansen CEO: Will No Longer Apply for Permanent Residency in Singapore

Nansen CEO Alex Svanevik stated on X that he will no longer apply for permanent residency. "Having to request bureaucratic support for your application or submit the same documents ten times seems inconsistent with the values that Lee Kuan Yew established when founding this country."

"I was surprised to learn that many permanent residents now have to apply for re-entry every year, which, in my view, completely contradicts the original intention of becoming a permanent resident."

"So I will continue to hold an Employment Pass (EP) while exploring other places to live."

"I admit I am disappointed with the outcome, as I feel I have made positive contributions to Singapore in many ways. It is a great place to live, and it would be wonderful if Singapore could be the home for several generations of my family."

Data: Sun Yuchen Deposited 3.97 Million PUFFER Airdrop into HTX 14 Hours Ago, Currently Worth $2.85 Million

According to on-chain analyst @ai_9684xtpa, Sun Yuchen deposited 3.97 million PUFFER airdrop tokens into HTX 14 hours ago, when the token price was $0.3035. If not sold, these tokens are now worth $2.85 million.

SingularityDAO Plans to Merge with Cogito Finance and SelfKey to Build AI-Centric L2

SingularityDAO plans to merge with Cogito Finance and SelfKey to form a joint project focused on the tokenization of the AI economy.

The new entity, Singularity Finance, will provide a Layer 2 network for tokenizing assets like GPUs and offer AI financial tools. The planned merger will make SelfKey's existing token KEY the new token SFI of Singularity Finance.

SingularityDAO's SDAO and Cogito's CGV will merge into SFI at ratios of 1:80.353 and 1:10.89, respectively. This process will vary based on stakeholder discussions.

It is reported that SingularityDAO's SingularityNET completed a similar merger in June with other AI-focused projects Fetch.ai and Ocean Protocol, forming the ASI token.

"What Interesting Articles Are Worth Reading in the Last 24 Hours"

Interview with Sui Co-Founder Adeniyi: What Have We Done to Improve User and Developer Experience?

This article is an interview by Grayscale with Sui co-founder Adeniyi Abiodun. Adeniyi Abiodun is the co-founder and Chief Product Officer of Sui/Mysten Labs. Before founding Mysten Labs, Adeniyi led many R&D initiatives at Meta in the blockchain and cryptocurrency space, including the Diem (formerly known as Libra) network and the Move programming language. In the interview, Adeniyi delves into the advantages of the Sui network and some practical application scenarios, discussing innovative applications of Sui for users and developers, and outlining the future development direction of Sui.

Harris's Efforts to Win Support from Black Men Mocked, U.S. Election Sees Doubts About Her Commitment to Cryptocurrency

The U.S. presidential election is in countdown mode, and the competition between Trump and Harris has intensified. Compared to Trump's high-profile actions in the cryptocurrency space, Harris has rarely made clear statements about cryptocurrencies. Recently, during a campaign rally targeting Black male voters, Harris announced a series of economic security plans, including a commitment to support a regulatory framework for cryptocurrencies to protect Black men's cryptocurrency investments. After the announcement, Harris was criticized by the crypto community for her "lack of sincerity," suggesting that she merely uses cryptocurrency as a tool to win the election.

Vitalik's New Work: Potential Technical Roadmap After Ethereum The Merge

Initially, "the Merge" referred to the transition from proof of work to proof of stake. Now, Ethereum has been running as a proof of stake system for nearly two years, demonstrating excellent performance in stability , performance, and avoiding centralization risks . However, there are still some areas for improvement in proof of stake.

The roadmap I outlined in 2023 includes several parts: improving technical features, such as increasing stability, performance, and accessibility for small validators, as well as economic reforms to address centralization risks. The former is part of what "the Merge" encompasses, while the latter is part of "the Scourge."