Headlines
▌OpenAI releases long-awaited AI video generation model Sora
OpenAI releases long-awaited AI video generation model Sora, similar to OpenArt's AI tool DALL-E, users input the desired scene, and Sara will give back high-definition video editing results.
▌El Salvador plans to relax Bitcoin acceptance requirements to unlock $3 billion in loans
El Salvador plans to relax requirements for forcing local businesses to accept Bitcoin in order to obtain more than $3 billion in loans, according to a report by the Financial Times citing anonymous sources. Sources said that by shifting to a policy that allows companies to voluntarily accept Bitcoin, El Salvador could reach a loan agreement worth $1.3 billion with the International Monetary Fund. The deal will also reportedly unlock two loans, one $1 billion from the World Bank and another $1 billion from the Inter-American Development Bank. In order to receive the IMF loan, the country also agreed to reduce its budget deficit, pass an anti-corruption law and increase reserves, the Financial Times said.
Market
As of press time, according to Coingecko data:
BTC's latest transaction price is $97,130.90, with a daily increase or decrease of -3.8%;
ETH's latest transaction price is $3,695.45, with a daily increase or decrease of -7.5%;
BNB's latest transaction price is $684.67, with a daily increase or decrease of -7.6%;
SOL's latest transaction price is $215.28, with a daily increase or decrease of -9.0%;
DOGE's latest transaction price is 0.4087 yuan, with a daily increase or decrease of -11.8%;
XPR's latest transaction price is 2.18 US dollars, with a daily increase or decrease of -15.8%.
Policy
▌Russian State Duma deputy proposes to set up a strategic Bitcoin reserve to deal with financial risks
Russian State Duma deputy Anton Tekayev proposed to Finance Minister Anton Siluanov to set up a strategic Bitcoin reserve to deal with financial risks brought about by geopolitical instability.
▌Multiple crypto advocacy organizations oppose the nomination of Democratic SEC Commissioner Caroline Crenshaw
Several crypto organizations, including Cedar Innovation Foundation, have published advertisements and letters opposing the nomination of Democratic SEC Commissioner Caroline Crenshaw. Its digital advertising campaign calls Caroline Crenshaw "more extreme than Chairman Gary Gensler." Cedar Innovation Foundation emphasized in a statement that Crenshaw opposes the approval of a spot Bitcoin ETF and criticizes the cryptocurrency market as a "'petri dish' for fraud." The Blockchain Association and other lobbying groups have written to Senate lawmakers urging the rejection of the commissioner. It is reported that the US Senate Banking Committee is ready to consider the re-nomination of Caroline Crenshaw, whose current five-year term has expired and will be in a buffer period, which may last until the end of 2025.
Blockchain Applications
▌xAI: We are updating the functionality of the Grok chatbot through a new autoregressive image generation model codenamed Aurora
Musk's xAI: We are updating the functionality of the Grok chatbot through a new autoregressive image generation model codenamed Aurora, which has been launched on the X platform. (Golden Ten)
▌Musk criticized the US government's IT backwardness for tax problems, and analysts said that blockchain may be a solution
Musk recently criticized the US government for using old computers and software, which made the tax agency (IRS) unable to pass basic audits and even "difficult to track where taxes go." Some analysts pointed out that blockchain technology may be one of the solutions to this problem.
▌FLOKI launches debit card, which can be used to use crypto assets at merchants that accept VISA or MasterCard
Floki announced that its debit card has been officially launched, and users can use crypto assets at merchants that accept VISA or MasterCard worldwide. Floki debit cards are not applicable to OFAC sanctioned countries and regions restricted by issuing banks or MasterCard.
Cryptocurrency
▌The entire network has exploded $1.712 billion in the past 24 hours, which may set a record high in this round of bull market
According to Coinglass data, the entire network has exploded $1.712 billion in the past 24 hours, which may set a record high in the 24 hours of this round of bull market, including a long position explosion of $1.55 billion, a short position explosion of $162 million, a BTC explosion of $183 million, and an ETH explosion of $240 million. In the last 24 hours, a total of 569,620 people were liquidated worldwide, with a total liquidation amount of $1.712 billion. The largest single liquidation occurred in Binance-ETHUSDT, worth $19.6911 million.
▌Genius Group purchased an additional $2.2 million worth of Bitcoin, and its holdings increased to 191 BTC
According to Globenewswire, artificial intelligence company Genius Group (NYSE American: GNS) announced that it has increased its Bitcoin vault purchases by an additional $2.2 million to 191, with a total value of $18 million and an average price of $92,728 per Bitcoin. The company announced its "Bitcoin First" strategy on November 12, promising that 90% or more of its current and future reserves will be held in Bitcoin, with an initial target of $120 million in Bitcoin.
▌JPMorgan Chase: November is a "milestone" month for the cryptocurrency market
JPMorgan Chase (JPM) said in a research report on Monday that November was a milestone month for the cryptocurrency market in terms of performance, activity, politics and sentiment. "President-elect Trump's re-election has triggered a historic rebound and market value jump across the entire crypto ecosystem," wrote analysts led by Kenneth Worthington. This includes tokens, decentralized finance (DeFi), stablecoins and public companies with crypto assets. The bank noted that the crypto ecosystem recorded its best monthly return, with its market value rising 45%. The total market value of cryptocurrencies swelled to $3.3 trillion. The report said that trading volume in the cryptocurrency market more than doubled, and trading activity for some digital assets grew even higher. The bank noted that trading volume for non-fungible tokens (NFTs) was weak.
▌Analysis: BlackRock IBIT’s investment performance is not outstanding among Bitcoin ETFs
Nearly $10 billion in net inflows have flowed into U.S.-listed spot funds since Trump’s victory, with about 83% of that going to BlackRock’s IBIT, but some ETFs are still outperforming others. Invesco-Galaxy’s BTCO has proven to be far ahead of other Bitcoin ETFs, with BTCO having acquired a net of about 8,740 BTC at a price of $418.9 million to date, with a holding value of $860.6 million, representing a shareholder return of more than 100% for the ETF; in contrast, while BlackRock IBIT has acquired approximately 523,935 Bitcoins, its average purchase price was higher ($65,600), meaning IBIT’s timing of the market was worse than any other fund in its class.
Important Economic Dynamics
▌The probability of the Federal Reserve cutting interest rates by 25 basis points in December is 85.8%
According to CME's "Fed Watch", the probability of the Federal Reserve maintaining the current interest rate unchanged by December is 14.2%, and the probability of a cumulative interest rate cut of 25 basis points is 85.8%. The probability of maintaining the current interest rate unchanged by January next year is 10.5%, the probability of a cumulative interest rate cut of 25 basis points is 67.5%, and the probability of a cumulative interest rate cut of 50 basis points is 22%.
Golden Encyclopedia
▌What is chain abstraction?
Chain abstraction is a concept that simplifies the user experience of blockchain technology and unifies transactions across multiple networks. Blockchain chain abstraction aims to solve this problem by hiding or "abstracting" the technology from the user. This means that people don't know they are using a blockchain or which blockchain they are using. Chain abstraction works by providing a single interface that enables users and developers to interact with multiple blockchains without having to manage the complexity of each individual chain.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish the correct investment concept and be sure to increase risk awareness.
Huang Bo
Bitcoinist
Cointelegraph