The total number of investors in Bitget's first LaunchX project, Fuel Network (FUEL), reached 141,430, with a total investment of US$400 million. It has now entered the distribution phase, with the distribution time being from 10:00 to 18:00 on December 19 (UTC+8). FUEL/USDT spot trading will be launched at 18:00 today.

Crypto AI startup Fraction AI has raised $6 million in a Pre-Seed round of funding, led by Spartan Group and Symbolic Capital, with participation from Borderless Capital, Anagram, Foresight Ventures and Karatage. Shashank Yadav, founder and CEO of Fraction AI, said that angel investors such as Sandeep Nailwal of Polygon and Illia Polosukhin of NEAR Protocol also participated in this round of financing and became "close advisors" to the project. Yadav said that Fraction AI is mainly built on Ethereum and is currently running on a closed testnet with more than 60,000 users. The public testnet is expected to launch next month, and the mainnet is scheduled to go live in late Q1 or early Q2 2025. In addition, the FRAC token will also be launched at the time of the mainnet launch. Fraction AI is currently built mainly on Ethereum, but plans to launch on NEAR and multiple Ethereum L2 networks. The project currently has 8 employees, with plans to keep the team lean in the near future. (The Block)

According to Odaily, the vote to renominate Caroline Crenshaw as a commissioner of the U.S. Securities and Exchange Commission (SEC) has been canceled, potentially ending her tenure. Originally scheduled for last Wednesday, the Senate Banking Committee was set to decide on extending Crenshaw's term, which began in 2020. However, the Senate's website now indicates that the vote has been called off. A Senate aide familiar with the situation confirmed that the vote has been scrapped and is unlikely to be rescheduled. This development significantly diminishes Crenshaw's chances of continuing as an SEC commissioner. To remain in her position, Crenshaw would need the Senate Banking Committee's approval before the current congressional session concludes. The 2024 congressional term ends on December 18. After this date, Crenshaw could still seek reappointment, but she would require approval from the new Congress, which is expected to be controlled by Republicans, making her reappointment unlikely.

What caused this round of crypto market decline? What will be the future trend of the Federal Reserve's policy? What do industry insiders think of the current market situation?

Under the agreement, El Salvador will make Bitcoin acceptance voluntary for the private sector while restricting public sector involvement. source: https://decrypt.co/297722/el-salvador-to-scale-back-bitcoin-efforts-under-1-4-billion-imf-deal

On Wednesday, the vote to re-nominate Caroline Crenshaw, a U.S. Securities and Exchange Commissioner, was canceled, which may mean that she will lose the opportunity to be re-elected at the SEC. The U.S. Senate Banking Committee was scheduled to vote last Wednesday on whether to extend Crenshaw's term at the SEC, where she has served since 2020. The vote was originally scheduled for this Wednesday, but the Senate website now shows that the vote has been canceled. A Senate aide familiar with the situation said that the vote has now been rejected and it is impossible to reschedule. This means that the possibility of Crenshaw's re-election as an SEC commissioner is almost zero. In order to remain at the SEC, Crenshaw must be approved by the Senate Banking Committee before the end of the current congressional session, but the 2024 congressional term ends on December 18. After that, Crenshaw can continue to seek re-election to the committee, but she must be approved by the new Republican-controlled Congress, which is obviously unlikely. (Decrypt)

IG market strategist Yeap Jun Rong wrote in a report that the trajectory of future rate cuts by the Federal Reserve may depend on the policies of President-elect Trump, which remain unclear at this stage. He said that Trump's initial remarks on tariffs did sound aggressive. However, he added that the extent to which these measures will be implemented is uncertain. Yeap said that as policy becomes clearer, the Federal Reserve may initially tend to a shallower rate cut cycle. He also said that with the end of the Federal Reserve meeting, unless the Bank of Japan makes an unexpected decision, U.S. stocks may gradually rise in the last few weeks of 2024. However, due to the lack of further catalysts, it may be challenging to reach new record highs by the end of the year. (Jinshi)

According to BlockBeats, recent data from Coinglass reveals that the cryptocurrency market has experienced substantial liquidations over the past 24 hours. The total liquidation amount reached $843 million, with long positions accounting for $743 million and short positions making up $100 million. This significant movement in the market highlights the volatility and risks associated with cryptocurrency trading, as traders face substantial losses due to rapid price fluctuations. The data underscores the challenges faced by investors in the cryptocurrency space, where market dynamics can lead to sudden and large-scale financial impacts. The predominance of long position liquidations suggests that many traders were betting on a price increase, which did not materialize, resulting in considerable financial setbacks. This event serves as a reminder of the importance of risk management and the need for traders to remain vigilant in the face of unpredictable market conditions. As the cryptocurrency market continues to evolve, such incidents of large-scale liquidations are likely to persist, reflecting the inherent volatility of digital assets. Traders and investors are advised to stay informed and exercise caution, as the market can shift rapidly, leading to significant financial consequences.

According to Odaily, a notable whale trader has recently completed a profitable Bitcoin shorting operation, earning $800,000. The trader initially borrowed 420 Wrapped Bitcoin (WBTC) from Aave on the 16th and sold them at a price of $103,402 per BTC. This strategic move was part of a short-selling plan. Today, influenced by comments from Jerome Powell, Bitcoin experienced a slight pullback. Seizing this opportunity, the trader repurchased the 420 WBTC at a lower price of $101,482 per BTC, effectively closing the short position and securing the profit. This transaction marks the 21st round of operations for the trader, who has achieved 17 wins and 4 losses in their trading activities.

According to the announcement of WEEX Exchange, the platform has launched the 40th WE-Launch project Artemis (ARTMS). Users who invest ≥ 1,000 WXT before 16:00 UTC+8 on December 23 can share 20,000,000 ARTMS airdrops according to the effective investment ratio. WEEX will launch ARTMS spot trading at 17:00 UTC+8 on December 23. Artemis aims to become the eBay or Amazon in the crypto field, where buyers, sellers, service providers and seekers can complete transactions using cryptocurrencies.

OKX market data shows that SOL fell below 200 USDT and is now at 199.93 USDT, with a 24-hour drop of 8.92%. (This newsletter is generated by AI)

Binance partners up with Cristiano Ronaldo to launch "ForeverSkills," its fifth digital collectibles series, celebrating the football legend’s iconic talent and bringing fans closer to the football legend.

Golden Finance launches the 2543rd issue of "Golden Morning 8", a morning report on the cryptocurrency and blockchain industry, to provide you with the latest and fastest news on the digital currency and blockchain industry.

Abstract Chain, a Layer 2 network designed specifically for on-chain culture and community, will launch its mainnet in January next year.

Meme, What are the upgrades of Eliza V2, the AI ​​Agent framework of ai16z? Golden Finance, What are the differences between the current version and V2?

On December 18, 2024, Binance Alpha announced the first and second batch project lists, namely: KOMA, Cheems, APX, ai16z, AIXBT, CKP, GEAR, SD, SYRUP and FARTCOIN.

It is precisely based on the changes in US regulations that DeFi has become an important narrative in this bull market.

This has been an extremely constructive year for the crypto industry, with significant developments in price action, market structure milestones, and major regulatory and political shifts.

Many Virtual Agents are addressing a variety of specialized use cases

Seven individuals, including a key Indonesian suspect, are being sought in connection with the Gigamax cryptocurrency investment scam, which resulted in RM7.25 million in losses. Authorities have arrested 11 people and are continuing the investigation to uncover the full extent of the fraud.