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According to Odaily, on the Empire podcast, Phantom Wallet CEO Brandon Millman stated that the company has no intention of launching its own blockchain or pursuing an IPO. The current focus will remain on the Solana ecosystem and products and services aimed at mainstream users.

Brandon pointed out that creating a proprietary blockchain goes against the principles of openness and composability in the crypto industry. Phantom will continue to deepen its presence in the Solana ecosystem and launch new products such as the stablecoin financial service Phantom Cash and the soon-to-be-launched trading terminal Phantom Terminal. The team currently has no plans to develop products for institutional users.

When discussing the possibility of an IPO, Brandon said that Phantom does have the potential to become one of the few consumer-facing on-chain companies eligible for listing, but there are no plans to advance this process at present. Rather than taking on the operational burdens of being publicly listed, Phantom prefers to rely on the support of existing investors such as A16Z, Paradigm, and Sequoia, and continue to drive business development through private fundraising.

According to Odaily, River has officially announced the launch of the River Pts public sale buyback execution phase. This buyback is only open to public sale participants who still hold River Pts at the time of the snapshot. Eligible addresses must send the same amount of River Pts as recorded in the snapshot to the sole official buyback address before 21:00 on November 20. The official statement emphasized that this address is the only valid address; no other buyback addresses will be announced, and users will not be contacted via private messages or third-party intermediaries.

According to the plan, River will verify all on-chain transactions after the buyback window closes and distribute BNB based on the verification results. Only River Pts purchased during the public sale and still held at the time of the snapshot are eligible for the buyback; assets purchased on the secondary market or transferred before the snapshot are not included.

The buyback timeline is as follows: November 10, the buyback plan is announced; November 11, eligible addresses and amounts are published; November 12 to 20, buyback execution; November 20 to 23, transaction review; November 23, BNB buyback distribution to all qualified addresses is completed.

According to Odaily, Morgan Stanley strategist Denny Galindo stated that the crypto market has entered the "autumn phase" of bitcoin's four-year cycle, meaning the market is in the "harvest season" before a potential peak. He noted that historical data shows bitcoin's price cycles typically follow a "three up, one down" rhythm, so investors should gradually lock in profits before "winter" arrives.

Galindo said: "We are now in autumn, which is the time to harvest. But the key is, how long will this autumn last, and when will winter come?"

Analysts believe this metaphor shows that Wall Street is viewing the bitcoin market through the lens of cyclical assets, treating it as an investment cycle asset similar to commodities or those driven by macro liquidity. (Cointelegraph)