On Dec 29, 2024, 00:52 AM(UTC). According to Binance Market Data, BNB has dropped below 720 USDT and is now trading at 718.969971 USDT, with a narrowed narrowed 3.25% increase in 24 hours.

Joe Doll, general counsel of NFT marketplace Magic Eden, said in an interview that David Sacks, recently appointed "AI and crypto czar," has only 2 years to push for pro-crypto policies before the 2026 US midterm elections. According to Doll, the threat of government gridlock could stifle regulation, and the current administration must push for pro-crypto policies while still controlling both houses of Congress. "The House majority is very slim and it's likely to flip, as it almost always does," Doll said. "So there could be a divided government that locks things up and freezes them for two years. So we have 24 months to push something important." (Cointelegraph)

Recently, the U.S. Internal Revenue Service (IRS) reporting rules identified DeFi front-ends as brokers, which has brought shocks to the crypto industry. It is reported that the U.S. Treasury and the IRS received more than 44,000 comments after proposing the rule. Alex Thorn, head of research at Galaxy Digital, outlined three potential options for DeFi if the IRS rule is not revoked. He said that DeFi services and applications can comply with IRS reporting requirements and accept broker identification, try to block users from the United States, or give up smart contract upgrades and revenue generation. Thorn wrote: "Under the proposal, DeFi applications that do not have a front-end website, have non-upgradeable contracts, and do not charge any 'consideration' (i.e., no fees) in the process of disposing digital assets can be exempted from being designated as 'brokers'. In other words, highly decentralized applications cannot understand the situation and therefore cannot comply with broker reporting requirements." (Cointelegraph) Previously, the U.S. Treasury Department and the U.S. Internal Revenue Service finalized the tax reporting requirements for specific cryptocurrency brokers (RIN 1545-BR39, TD 10021). Afterwards, the U.S. Blockchain Association announced on the X platform that it had filed a lawsuit with the DeFi Education Fund and the Texas Blockchain Council to question the IRS's broker rules.

According to Odaily, a Bitcoin wallet containing 357 BTC, valued at approximately $34,070,177, was activated after being dormant for 11 years. The activation was detected by Whale Alert at 7:56:14 UTC+8.

Polymarket predicts that the probability of President-elect Trump approving a strategic Bitcoin reserve within his first 100 days has fallen back to 27%, down from a high of 60% after Trump was elected. The amount of bets on this event has now exceeded $1.5 million. Meanwhile, other prediction markets expect Trump to eventually accept Bitcoin as a strategic reserve, joining crude oil and gold. For example, Kalshi predicted that the probability of Bitcoin reserves by January 2026 was once 61%, the highest since December 21, and has now fallen back to 57%. In addition, users of Polymarket and Kalshi expect that it will take some time for Texas to pass the strategic Bitcoin reserve bill. Polymarket predicts that Texas has a 10% chance of passing the bill before March next year, while Kalshi has a 24% chance.

XRP is capturing attention across the crypto market as it forms a bullish flag pattern, a classic technical setup often signaling potential upside. This development comes after a strong price surge, followed by a period of consolidation that mirrors the shape of a flag. Such patterns are typically interpreted as continuation signals, hinting that the recent upward momentum could resume if key... source: https://www.newsbtc.com/analysis/xrp/xrp-forms-bullish-flag-pattern/

According to Whale Alert monitoring, at 7:56:14 Beijing time, an address containing 357 BTC (US$34,070,177) was activated after 11 years of dormancy.

According to Odaily, the probability of the U.S. SEC approving a spot Solana ETF application by July 31, 2025, has risen to 71% on Polymarket. Analysts attribute this increase to the upcoming inauguration of President-elect Trump and the nomination of Paul Atkins as SEC Chairman, which are seen as factors enhancing the chances of SOL ETF approval. Additionally, Trump has initiated the formation of a cryptocurrency committee, appointing Bo Hines as Executive Director and former PayPal executive David Sacks as the 'Crypto Czar.' Recently, Nate Geraci, President of The ETF Store, revealed that VolatilityShares has submitted an application to U.S. regulators to launch a leveraged ETF based on Solana futures. Bloomberg's senior ETF analyst Eric Balchunas commented on the X platform that the approval of this Solana futures ETF could potentially facilitate the listing of a spot Solana ETF.

Ki Young Ju, CEO and founder of CryptoQuant, said President-elect Trump’s Bitcoin policy is likely to depend on the global investment community’s perception of the U.S. economy and the strength of the dollar. Ju believes that when investors believe that the U.S. economic hegemony is threatened, the price of hedging assets such as gold and BTC will rise. However, investors continue to have confidence in the U.S. economy and view the U.S. dollar as a safe haven currency. He said that this strong position makes it unlikely that the Trump administration will adopt a strategic reserve of Bitcoin to protect the dominance of the U.S. dollar and may cause Trump to abandon his pro-BTC policy. He wrote: "Even before taking office, Trump has continuously warned other world leaders about the power gap between the United States and other countries. Such rhetoric, coupled with increased capital inflows into the U.S. dollar, may restore confidence in the hegemony of the U.S. dollar." He added: "Around me, many Koreans choose the U.S. dollar as a safe haven instead of gold or BTC, especially as the won depreciates." (Cointelegraph)

USDTが市場をリード、成長続ける新興コインと規制強化の動き 28日、ステーブルコインの総供給量が2,003億ドル（約31兆円）を超え、過去最高を記録した。このうち、USDTは1,429億ドル（約22兆円）、USDCは4 […] source: https://jinacoin.ne.jp/stablecoin-20241229/

Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance. Its content covers the week's key news, market and contract data, mining information, project dynamics, technological progress and other industry dynamics.

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