Headline
▌Trump nominees threatened with violence, FBI launches investigation
The FBI said it has noticed multiple bomb threats and harassment against Trump transition team nominees and is working with law enforcement partners to investigate these incidents. The FBI said they take all potential threats seriously and encourage the public to immediately report any incidents they deem suspicious to law enforcement. Earlier, the transition team of US President-elect Trump announced that several of Trump's cabinet nominees had been threatened with violence from "non-Americans" on the evening of the 26th and the morning of the 27th.
▌Mayor of Vancouver, Canada plans to launch a "Bitcoin-friendly city" plan
Ken Sim, mayor of Vancouver since 2022, announced that the city of Vancouver, Canada plans to add Bitcoin to its balance sheet as part of its investment diversification efforts.
At the Vancouver City Council meeting on November 26, Mayor Sim submitted a notice of motion, scheduled for December 11, titled “Maintaining the Purchasing Power of the City through Diversification of Financial Resources: Becoming a Bitcoin-Friendly City.” As of November 27, the motion does not appear to have been posted on the city government’s website, and the Vancouver Mayor’s Office declined to comment.
It is unclear whether the Vancouver mayor’s motion is a response to the U.S. local and federal governments considering legislation to establish a Bitcoin reserve. After the 2024 election, lawmakers in both the Pennsylvania House of Representatives and the U.S. Senate have proposed plans for the government to hold Bitcoin as a reserve asset.
Market
As of press time, according to Coingecko data:
BTC's latest transaction price is $95,888.47, with a daily increase or decrease of +4.2%;
ETH's latest transaction price is $3,653.58, with a daily increase or decrease of +9.9%;
BNB's latest transaction price is $644.33, with a daily increase or decrease of +5.3%；
SOL's latest transaction price is 241.36 US dollars, with a daily increase or decrease of +4.4%；
DOGE's latest transaction price is 0.4002 yuan, with a daily increase or decrease of +3.4%；
XPR's latest transaction price is 1.47 US dollars, with a daily increase or decrease of +5.0%。
Policy
▌Nominations for the new Trump administration ministers have been completed, and more than 5 of them are "cryptocurrency speculators"
On November 23rd local time, US President-elect Trump announced the nomination of Brooke Rollins as Secretary of Agriculture. So far, all the cabinet ministers of Trump's new administration have been confirmed. In addition, Trump has nominated several high-level officials in the past few weeks. Judging from the list of the new government, in addition to Musk, Howard Lutnick and other well-known names in the crypto market, many cabinet officials are firm supporters of cryptocurrencies and have publicly disclosed their cryptocurrency holdings, including the nominated vice president, secretary of the treasury, secretary of commerce, secretary of health and human services, director of national intelligence, etc.
▌Cryptocurrency supporter Paul Atkins becomes a popular candidate for SEC chairman
According to people familiar with the matter, the transition team of US President-elect Trump has interviewed Paul Atkins, a veteran financial regulator and behind-the-scenes figure in the conservative financial community, as a candidate for chairman of the US Securities and Exchange Commission (SEC). People familiar with the matter said Atkins is the top contender to replace the outgoing Gensler. They said Trump is expected to make a choice in the coming days and no decision has been made yet. Atkins served as an SEC commissioner during the George W. Bush administration, after which he founded Patomak Global Partners, a firm that provides consulting services to major financial industry clients. He is a strong supporter of digital assets and fintech companies. He also testified in Congress to discuss how to reorganize the agency's operations and reduce regulatory provisions that some industry insiders believe are duplicative or overly burdensome.
▌Bitwise submits 10 cryptocurrency index ETFs to the US SEC
Bitwise submitted 10 cryptocurrency index ETFs to the US Securities and Exchange Commission (SEC), including: Bitcoin, XRP, Solana, Cardano, Uniswap, Polkadot, Chainlink, Ethereum, Avalanche, Bitcoin Cash.
▌Musk and Ramaswamy will go to Capitol Hill to discuss US federal government reform
On November 27 local time, US House Speaker Mike Johnson said that American entrepreneur Elon Musk and former Republican presidential candidate Vivek Ramaswamy will go to Capitol Hill on December 5 to discuss major reform ideas with House and Senate Republicans to "achieve regulatory deregulation, administrative cuts and cost savings." Earlier, US President-elect Trump announced on November 12 that Musk and Ramaswamy will jointly lead the proposed "Ministry of Government Efficiency" after he takes office as president, which will "pave the way for dismantling government bureaucracy, cutting redundant regulations and wasteful spending, and restructuring federal agencies."
Blockchain Applications
▌Bitcoin Miner IREN: Has Approached a Trillion-Dollar Company for Hosting AI-Related Infrastructure
Daniel Roberts, co-CEO and co-founder of Sydney-based Bitcoin miner IREN, said that a hyperscale company (large cloud service provider) has approached the company and may host AI infrastructure at IREN's Sweetwater mining farm in Texas. "Two hours ago, we received an email from a trillion-dollar hyperscale company saying they were interested in Sweetwater," he said, without giving too many details.
In addition, the cost of mining Bitcoin for IREN is about $29,000, which is far lower than the market price of about $96,000. Daniel Roberts said that the company has the opportunity to accumulate Bitcoin at a discount compared to other companies paying spot prices.
▌European Parliament approves new list of commissioners, including a commissioner who may oversee cryptocurrency rules
The European Parliament approved a list of commissioners on Wednesday, including those responsible for overseeing digital asset regulation, and commissioners Stephane Sejourne, Maria Luis Albuquerque and Henna Virkkunen may include cryptocurrencies in their terms of reference.
In September, European Parliament President Ursula Von der Leyen proposed a list of commissioners. Although cryptocurrency is not a core topic in these positions, the commission will be responsible for ensuring the implementation of digital asset rules. In addition, the EU's crypto asset market legislation MiCA will fully come into effect at the end of December, so more work may need to be done to ensure implementation.
Cryptocurrency
▌Cryptocurrency trading volume exceeds stock market, Bitcoin surge puts pressure on South Korea's small-cap stocks
The rapid rise of Bitcoin has put pressure on South Korea's small-cap stocks. Since Trump won the election on November 5, Bitcoin has soared nearly 35%, while the Kosdaq index, which is dominated by small-cap stocks, has fallen 8%, which may become the worst performing index in Asia this year. Analysts said the decline was partly due to small investors selling stocks and turning to Bitcoin, exacerbating the rout of the index that has lost about one-fifth of its market value this year. Currently, trading volume on South Korean cryptocurrency exchanges has exceeded that of the benchmark stock index KOSPI. Hong Songuk, a digital asset analyst at NH Investment & Securities, said that because Bitcoin spot ETFs are banned in South Korea, investors have bet on leveraged funds that trade Bitcoin futures, while others have bought shares of MicroStrategy (MSTR.O).
▌Arkham: Trump's address once made a floating profit of $3.5 million through airdropped TROG and GUA
According to Arkham monitoring, Donald Trump's address once made a floating profit of $3.5 million through airdropped TROG and GUA. As of press time, the 210.3 billion TROG held in Trump's address is worth $1.94 million, and the 1.388 billion GUA is worth $524,000. Both tokens were airdropped to Trump by the developer.
▌Stablecoin trading volume rose to $1.8 trillion in November
According to a report released by CCData on November 27, stablecoin trading volume increased significantly by 77.5% this month, rising to $1.81 trillion as of November 25. This growth is expected to set a new annual high for monthly trading volume on centralized exchanges.
Continuing a 14-month upward trend, the report said that the total market value of stablecoins rose 9.94% in November to $190 billion, surpassing the all-time high of $188 billion set in April 2022 before the TerraUSD crash. Despite the growth, market dominance fell to 5.54% from 7.22% in October as investors and traders increased their diversified investments in Bitcoin BTC and altcoins.
▌CryptoQuant Analyst: Ethereum's "Second Bull Run" Has Begun
CryptoQuant Analyst Crypto Sunmoon said that Ethereum's "Second Bull Run" has begun.
Analysts said that in the past bull markets of the cryptocurrency market, Ethereum always experienced two rounds of increases, and the second bull cycle always greatly exceeded the price set by the first bull cycle.
Important Economic Dynamics
▌The probability of the Federal Reserve cutting interest rates by 25 basis points in December is 66.5%
According to CME's "Fed Watch", the probability of the Federal Reserve maintaining the current interest rate unchanged by December is 33.5%, and the probability of a cumulative interest rate cut of 25 basis points is 66.5%. The probability of maintaining the current interest rate unchanged by January next year is 26.3%, the probability of a cumulative interest rate cut of 25 basis points is 59.5%, and the probability of a cumulative interest rate cut of 50 basis points is 14.2%.
Golden Encyclopedia
▌What is an airdrop?
An airdrop is the cryptocurrency equivalent of a surprise gift. Imagine opening a box and discovering coins inside! This is similar to receiving an announcement about free tokens or tokens from a new blockchain project. Crypto airdrops involve distributing digital assets to users' wallets for free, or in exchange for completing simple tasks, such as following a project on social media or joining their online community.
In the crypto ecosystem, airdrops play a vital role. New projects use airdrops as a marketing strategy to increase awareness and build a user base. They are like free samples in supermarkets, enticing users to try new products. From a user's perspective, airdrops offer an opportunity to gain new cryptocurrencies with minimal effort, with the potential for huge gains. These tokens are not just freebies, but a way to participate in the growing digital economy.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for informational reference only and is not intended as actual investment advice. Please establish the correct investment philosophy and be sure to raise your risk awareness.
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