On November 16th, Rho Labs, a decentralized cryptocurrency derivatives trading platform founded by former Copper Chief Product Officer Alex Ryvkin, announced the completion of a $2.2 million pre-seed round of financing, with Speedinvest leading the investment and participation from Keyrock, Re7 Capital, Daedalus Collective, and Copper.co CEO Dmitry Tokarev.The cryptocurrency derivatives trading platform being built by Rho Labs will provide on-chain trading services based on specific and traditional interest rates, and it is expected that its trading market will launch an internal testing version on the Arbitrum chain by the end of this year.

According to Sopnendu Mohanty, Chief Financial Technology Officer of the Monetary Authority of Singapore (MAS), after "learning a lot of lessons" in the encryption field, Singapore's regulatory agency hopes to ensure the sustainability of the artificial intelligence industry. Mohanty said in an interview that MAS wants to "ensure that whatever artificial intelligence we adopt or promote, it will last for a long time." Mohanty added, "We have learned a lot of lessons in the entire cryptocurrency field, and it is not good to be too eager for success." (The block)

On November 14th, Singaporean crypto investment platform Bake's CEO Dr. Julian Hosp announced on his social media platform that the company will lay off about 50 employees and re-adjust the team size to around 120 members to achieve a sustainable "revenue balance" mode. Bake also stated that discussions about possible changes in the organizational leadership have been ongoing, but so far nothing has been confirmed or determined. Once confirmed, it will be communicated internally first and then publicly.<br>Hosp stated that he will continue to serve as the CEO of Cake Group. If there is a leadership transition in the company, business continuity will be given priority through handover and transition plans.

In August, the US Treasury Department, together with the Internal Revenue Service (IRS), proposed a set of regulations that would require cryptocurrency brokers to be treated similarly to brokers for more traditional investments such as stocks and bonds. Since then, over 124,000 letters have been received, with 2,000 submitted in just the past two days. Some believe that the proposed rules overly expand the definition of brokers.

On November 13th, according to official sources, Crypto.com, a cryptocurrency trading platform, announced the launch of regulated cryptocurrency derivative product Strike Options for its US users. The feature is gradually being rolled out across the United States. The announcement stated that the product is regulated by the CFTC and currently supports BTC, ETH, LTC, and BCH as underlying assets, with more products to be launched in the future.

Waterdrip Capital has officially announced the appointment of Jiang Lifeng (Aaron J) as a partner of the company. He will be mainly responsible for the IR investor relations management, project incubation, and post-investment management of Waterdrip Capital and the licensed digital asset fund Pacific Waterdrop Fund launched in cooperation with China Taiping Investment Management (Hong Kong) Co., Ltd. Aaron J has served as a senior executive in listed companies and leading blockchain enterprises in terms of strategy and investment direction. He joined Huobi Labs and Huobi Eco Fund in 2018, focusing on early-stage incubation and investment in Web3 and digital assets. Later, he joined CRC (Chain Renaissance Capital) as a blockchain partner.

LP mode is now available on the NULS SCO staking platform, according to an official announcement on NULS' Medium. This move addresses the issue of some projects lacking liquidity. LP mode aims to solve the problem of stakers being unable to trade the tokens they receive as rewards. When stakers claim their SCO rewards, the liquidity addition process will automatically trigger, and NULS and staker SCO token rewards will be added to NerveSwap at a fixed ratio and destroyed.

PundiX announced on its official Medium that the token burning for the third quarter has been completed. This time, approximately 5,654 $PUNDIX and 3,946,694,321 $PURSE tokens were processed. The removal of quarterly tokens in 2023 is tentatively scheduled for the second week of January 2024, but the schedule may change.

On November 10th, according to Lookonchain monitoring, the STEPN team distributed 79.2 million GMT to multiple addresses 3 hours ago, which is about $17.4 million. Lookonchain indicates that these addresses may belong to investors/advisors, and many of them may deposit the GMT into trading platforms after receiving it.

Singaporean crypto lending platform Hodlnaut announced on the X platform that Ee Meng Yen Angela and Aaron Loh Cheng Lee will be removed from their positions as joint executive judges of Hodlnaut and appointed as joint and several liquidators. Hodlnaut has a large number of creditors (including over 17,000 platform users), and Cheng said he will answer creditors' inquiries by merging them in the latest information provided to all potential creditors.