According to Odaily, Alliance DAO co-founder QW expressed on social media that he is beyond the age of wanting to win debates. However, he is willing to wager on the belief that a weighted index of selected public chains (L1) will outperform his listed '8–10 perfect projects' over the next decade. QW has previously shared his '10/10 project list,' emphasizing that high-quality projects have a significantly better long-term fundamental outlook compared to broad-based combinations centered around public chains. In related news, a Dragonfly partner recently stated that Ethereum has a strong moat, dismissing the notion that 'blockchains have no moat' as overly absurd.

According to Odaily, Alliance DAO co-founder qw recently shared his personal ranking of 'business moat levels across various industries,' noting that blockchain itself has a very limited moat, rated at only 3 out of 10. Qw's moat rating system is as follows: 10/10 Level (Strongest Moat) - Microsoft (Key SaaS) - Apple (Brand + Development Ecosystem) - Visa/Mastercard (Payment Network Effect) - TSMC (IP + Physical Infrastructure) 9/10 Level - Google (Search and AI IP) - Amazon (E-commerce Network Effect + Logistics Infrastructure) - Moody's, S&P, FICO (Regulation Driven + Brand + Rating Network Effect) - Major Cloud Computing (AWS/Azure/GCP, etc.) 8/10 Level - Meta (Social Network Effect) - NVIDIA (IP + CUDA Network Effect) 7/10 Level - Tesla (Strong Automation Technology, but Cars Still Commoditized) 5/10 Level - Best Crypto Businesses in the Industry 3/10 Level (Narrow Moat) - Public Blockchains Qw further stated that a weak moat is not necessarily a bad thing, but it means that teams must continuously innovate to stay ahead, or they will be quickly replaced. He also mentioned that Bitcoin could be rated at 9/10, while ASML belongs to the 10/10 level.

Dragonfly Managing Partner Haseeb responded by stating that rating blockchain moats as 3/10 is absurd, noting that even Santi has never believed blockchain "has no moat." Haseeb pointed out that Ethereum has maintained its dominance for 10 consecutive years, during which hundreds of competitors raised over $10 billion in funding to try and seize market share. However, after weathering the onslaught of all challengers throughout the decade, Ethereum remains firmly at the top of the industry, demonstrating its strong moat. Haseeb stated that if such achievements cannot be considered a moat, then the concept of a moat is meaningless. Previous news: Alliance DAO co-founder: L1 only has hedging value if BTC struggles to quickly address security and quantum risks.

GameStop (GME) disclosed a paper loss of approximately $9.4 million on its Bitcoin holdings in the third quarter ending November 1. Based on the quarter-end price, the company's 4,710 BTC were worth approximately $519 million, with no new or sold Bitcoin acquired during the quarter. The report notes that GameStop purchased the 4,710 BTC between May and June using a $1.3 billion bond financing and subsequently chose to hold them long-term. During the third quarter, the price of Bitcoin fell from approximately $115,000 to approximately $110,000. Affected by weaker-than-expected sales data, GameStop's stock price fell 5.8% on Wednesday. Since announcing its strategy of including Bitcoin in its treasury, the company's stock price has fallen by more than 22%. (coindesk)

According to ChainCatcher, senators are working to address critical differences in cryptocurrency regulation legislation in the final weeks of the year. The goal is to advance the bill out of committee after months of negotiations. Despite Democratic colleagues seeking amendments to the draft text and only a few days remaining before lawmakers leave for vacation, Republicans are pushing for a review and revision of the cryptocurrency market structure legislation next week. An industry insider familiar with the legislative process stated, "Time is of the essence. Realistically, there are about 48 hours to determine if the bill can move forward next week." Senator Cynthia Lummis, a key proponent of cryptocurrency legislation and a Republican from Wyoming, expressed her aim to release an updated draft by the end of the week, which she considers "our best outcome so far," and to have the bill reviewed and revised next week. Speaking at the Blockchain Association Policy Summit, she remarked, "I believe we have reached a point where it is best to present a proposal for review and revision next week, allowing everyone to take a breather during the Christmas holiday."

In short: The 25bps rate cut was in line with expectations, but the dot plot and press conference information were more dovish than the market expected.

CFTC Acting Chair Caroline Pham announced the inaugural CEO Innovation Council members, all from the exchange sector, who will discuss derivatives market structure and regulatory innovation. Participants include: Polymarket CEO Shayne Coplan, Cboe Global Markets CEO Craig Donohue, CME Group CEO Terry Duffy, Bullish CEO Tom Farley, Nasdaq CEO Adena Friedman, Bitnomial CEO Luke Hoersten, Kalshi CEO Tarek Mansour, Crypto.com CEO Kris Marszalek, LSEG CEO David Schwimmer, Kraken Co-CEO Arjun Sethi, ICE CEO Jeff Sprecher, and Gemini CEO Tyler Winklevoss. The CFTC stated it will drive market structure innovation in areas such as tokenization, crypto assets, 24/7 trading, perpetual contracts, prediction markets, and blockchain infrastructure, and will continue to review more committee applications. (Cointelegraph)

null source: https://x.com/BTC_Archive/status/1998915018843168844

The CFTC has approved Gemini Titan to launch a prediction market. source: https://www.cryptopolitan.com/gemini-cleared-to-launch-prediction-platform/

According to crypto analyst EmberCN, Bitmine (BMNR), Ethereum's largest treasury, continued to increase its ETH holdings today, acquiring 33,504 ETH from FalconX about two hours ago, worth approximately $112 million at current prices.

Michael Saylor, Executive Chairman of Strategy, stated that restricting passive index investing in Bitcoin at this time would be as outdated as restricting investment in oil and wells in the 1900s, in communications spectrum and cell towers in the 1980s, or in computing power and data centers in the 2000s. Saylor emphasized that Bitcoin has become a new generation of digital credit and value infrastructure, and hindering passive institutional allocation would run counter to historical innovation cycles.

Powell, Federal Reserve, interest rate cuts, tariffs, inflation; Powell's underlying message: a carefully designed "scapegoating" and farewell. Golden Finance: Will there only be one interest rate cut next year?

美联储,降息,鲍威尔,货币政策,2025年12月美联储议息会议实录：RMP来了 金色财经,美联储RMP来了。

The UAE has a very clear macroeconomic strategy: to accelerate its transformation from a past oil-based economy to a future-oriented fintech hub. The crypto industry is a key sector for this leapfrog development, and it is currently in a relatively advantageous position.

Jinse Finance launches its daily cryptocurrency and blockchain news bulletin, "Jinse 8 AM," issue 2905, providing you with the latest and fastest news on the digital currency and blockchain industry.

SEC, Trump, Trump to hold "final interviews" for Fed Chair Hassett not yet a done deal, Golden Finance, Is Bessett still a potential successor?

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on MEME, DeFi, DAO, NFT, and the metaverse industry.

On the eve of Do Kwon's trial, Terra Do Kwon is gambling $1.8 billion on his sentence. Golden Finance: Dead fundamentals, vibrant speculation.

Recommended reading tonight: 1. Multicoin: Stablecoins and Fintech 4.0; 2. Why are crypto giants like Binance, Tether, and Circle flocking to Abu Dhabi?; 3. Four reasons to be bearish on US stocks in 2026.

This article will share perspectives from the infrastructure, growth, bio + health, and Speedrun teams.