Headlines
▌U.S. Senator Cynthia Loomis Proposes Allowing the Fed to Hold Bitcoin
U.S. Senator Cynthia Loomis of Wyoming recently mentioned the possibility of turning Bitcoin into a reserve asset and proposed how to implement the plan, including getting the Federal Reserve involved.
Loomis said she wants to give the Federal Reserve the ability to buy and hold BTC as part of a larger strategic Bitcoin reserve plan to deal with national debt problems. I want to give it to them. I want our federal government to have a strategic Bitcoin reserve to help support the dollar as the world's reserve currency.
▌MicroStrategy Bitcoin Purchases Exceed 2021 Bull Market Levels
According to the Saylortracker page, MicroStrategy purchased 27,200 BTC on November 10, 2024, at about $74,000 each. MicroStrategy purchased another 51,780 BTC on November 17, followed by its largest BTC purchase ever on November 24, when it purchased 55,500 BTC at about $97,000 per coin. During the 2020-2021 bull run, MicroStrategy's largest acquisition was 29,646 Bitcoins on December 21, 2020, when Bitcoin was trading around $21,000.
Market
As of press time, according to Coingecko data:
BTC's latest transaction price is $94,858.45, with a daily increase or decrease of -2.4%;
ETH's latest transaction price is $3,268.93, with a daily increase or decrease of -1.9%;
BNB's latest transaction price is $648.19, with a daily increase or decrease of -2.2%;
SOL's latest transaction price is $179.51, with a daily increase or decrease of -0.5%；
DOGE's latest transaction price is 0.3112 yuan, with a daily increase or decrease of -2.2%；
XPR's latest transaction price is 2.19 US dollars, with a daily increase or decrease of -2.1%。
Policy
▌Trump: Bo Hines will become the executive director of the President's Digital Asset Advisory Committee
According to Tree News, Trump appointed former college football player and Republican House of Representatives nominee Bo Hines to become the executive director of the President's Digital Asset Advisory Committee (Crypto Committee).
▌El Salvador Steps Up Support for Bitcoin: Buying Bitcoin in Violation of IMF Agreement
The government of El Salvador has made it clear that it will continue to promote Bitcoin as part of its economic strategy, despite the country having signed an agreement with the IMF to gradually wind down its Bitcoin operations.
Stacey Herbert, director of the El Salvador Bitcoin Office, clarified that the country will continue to buy Bitcoin at an “accelerated” pace as part of its strategic Bitcoin reserve strategy even after the agreement. Herbert also explained on social media that Bitcoin will remain legal tender and the government will continue to sponsor several educational programs focused on cryptocurrency.
▌Pulsechain founder, included on Europol’s wanted list in Finland for fraud
Richard Shueler, founder of Hex, Pulsechain and Pulsex, has been included on Europol’s wanted list in Finland for fraud. He allegedly failed to file a business tax return and provide income information. In addition, he faces charges of assaulting a minor.
Blockchain Applications
▌Sui Enables Bitcoin Rehypothesis Through SatLayer Integration
Bitcoin rehypothesis platform SatLayer announced on Wednesday that it will expand Bitcoin's use in decentralized finance to Sui, a fast layer 1 blockchain launched last year.
SatLayer said in a statement that due to Sui's focus on fast transaction speeds, SatLayer's integration will enable developers to tap into Bitcoin's $2.1 trillion market size to build DeFi applications that aim to exclude third parties from transactions in areas such as trading and lending.
▌Hamster Kombat: Season 2 will build on the HamsterVerse with three games, launching closed beta
Hamster Kombat has announced that Season 2 will begin with not one, but three games that will form the foundation of the Hamster Verse. The Hamster Verse is an entertainment ecosystem built around the characters and storylines of Hamster Kombat. All Hamster Verse games will use HMSTR tokens on a regular basis. The team is launching a closed beta test.
Cryptocurrency
▌Vancouver Mayor Ken Sim: Bitcoin is the best performing asset of the past 16 years
Vancouver Mayor Ken Sim: Bitcoin is the best performing asset of the past 16 years. It's better than gold. It can't be taken by military force. It can make Vancouver a world leader in Bitcoin innovation.
▌Securitize proposes to use BlackRock BUIDL fund as collateral for Frax USD
Securitize, the brokerage firm of the Digital Liquidity Fund (BUIDL), has submitted a Frax improvement proposal to add BUIDL as a supporting collateral for the Frax USD stablecoin.
According to the improvement plan, using BUIDL as a collateral reserve asset can provide income opportunities, deeper liquidity and transfer options, and reduce counterparty risk due to the support of BlackRock, the world's largest asset management company.
▌Analyst: Mainstream European and American trading platforms will be closed on Christmas, and a deleveraging market before Trump takes office is not ruled out
Greeks.live analyst Adam posted on social media that this Wednesday is Christmas, and major European and American trading platforms are closed, and crypto funds usually flow out this week. Currently, ETFs are the main source of external funds for the crypto market. The pressure of capital outflow on the crypto market has increased significantly compared with previous years, and the market is risk-averse. This round of bull market has not seen a sharp correction. Now that funds are tight during the Christmas holiday, it is not ruled out that there will be a deleveraging before Trump takes office. The market is risk-averse. Nearly $12 billion of options have expired in the options market, accounting for more than 40% of the current total positions. Large investors and market makers are actively adjusting their positions. Paying more attention to the market can occasionally get good opportunities to pick up leaks. The volatility expected for Christmas this week is not large. The market is more betting on the market before and after Trump takes office at the end of January. It is still a good opportunity to buy options in the near future.
▌Arthur Hayes deposited 2 million ENA to Bybit, worth $2.06 million
According to OnchainLens monitoring, 2 hours ago, Arthur Hayes had deposited 2 million ENA to Bybit, worth $2.06 million, with an average price of $0.97. Previously, he had redeemed 9.01 million ENA and deposited $7 million ENA to Binance.
Important Economic Dynamics
▌Father of Keras: The economics of artificial intelligence is about to change radically
François Chollet, a well-known AI expert and father of Keras, said in an X post that there is one very important thing to know about the future: the economics of artificial intelligence are about to change radically. We will soon enter a world where test time calculations can be converted into capabilities-for the first time in the history of software, marginal costs will become critical.
Golden Encyclopedia
▌What is Ripple Labs' RLUSD stablecoin?
RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to provide a stable digital currency for transactions and trading. As a stablecoin pegged to the US dollar, 1 RLUSD is equivalent to 1 US dollar. Each RLUSD maintains a 1:1 peg. These collateral assets are either US dollar deposits or cash equivalents.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
Weatherly
Kikyo
Anais
Catherine