Headlines
Grayscale Investments and the New York Stock Exchange submitted a 19b-4 filing for the Solana ETF.
According to the NYSE's official website, Grayscale Investments and the New York Stock Exchange (NYSE) submitted a 19b-4 filing for the Solana ETF to the SEC.
The ruling party in South Korea may demand Yoon Suk-yeol to resign from the party and propose the resignation of the entire cabinet and the dismissal of the Minister of Defense.
According to multiple media reports, the ruling party in South Korea, the People Power Party, held an emergency meeting on December 4 to discuss countermeasures after President Yoon Suk-yeol announced the lifting of the lockdown.
Several participants indicated that a certain consensus was reached regarding issues such as demanding Yoon Suk-yeol to resign from the party, the entire cabinet resigning, and the dismissal of the Minister of Defense. Previously, after Yoon Suk-yeol announced a "state of emergency" lockdown, South Korean ruling party representative Han Dong-hoon stated that the president's decision was a mistake.
Arkham: The US government address transferred $13 million worth of BUSD to a new wallet.
Arkham monitoring data shows that the US government address transferred $13 million worth of BUSD to a new wallet.
Related assets in South Korea plummeted, and the won fell to a two-year low.
Following the South Korean president's announcement of a lockdown, related assets in South Korea plummeted, raising investor concerns about political instability and turmoil. The iShares MSCI South Korea ETF fell 5.1% in the US market, marking the largest single-day drop since August 5. The won has dropped to its lowest level in over two years against the dollar. Samsung Electronics' stock price in London fell by 5%. Wells Fargo strategist Arup Chatterjee in New York stated that in recent weeks, as the market began to digest the possibility of the Trump administration raising tariffs, domestic uncertainties in South Korea have increased under external pressure. Other South Korean company ADRs also declined. Coupang Inc. fell 6.9% in US stocks, and Posco Holdings Inc. and KB Financial Group Inc. also experienced declines.
The Bitcoin holdings of the US spot Bitcoin ETF differ from Satoshi's holdings by only 13,000.
According to Cointelegraph data, the Bitcoin holdings of the US spot ETF are only 13,000 short of surpassing Satoshi's holdings, currently holding 1,083,000 Bitcoins, while Satoshi holds approximately 1,096,000 Bitcoins.
The US government has transferred a total of 25,999 BTC to Coinbase this year, which is likely for custody rather than sale.
According to Spot On Chain monitoring, the US government transferred 19,800 BTC ($1.92 billion) 9 hours ago, of which 10,000 BTC ($962.9 million) were sent to Coinbase. So far in 2024, the US government has transferred a total of 25,999 BTC ($2.49 billion) to Coinbase. However, these transfers appear to be custodial actions rather than sales. Currently, the US government still holds about 183,850 BTC ($17.57 billion) across various known addresses.
Industry news
In November, Ethereum's on-chain trading volume reached $183.7 billion, the highest of the year.
According to The Block data, Ethereum's on-chain trading volume reached $183.74 billion in November, setting the highest monthly trading volume of the year so far. This is also the highest on-chain trading volume for Ethereum in nearly three years since the $241 billion recorded in December 2021. Although this figure is far from the historical peak of $404.93 billion set in May 2021, November's performance indicates that trading activity levels have stabilized. Compared to the annual high set in March, this figure has steadily increased by 9%, nearly doubling the annual low on-chain trading volume of $107.93 billion in January.
Insiders: Trump has chosen Paul Atkins as SEC chairman.
According to three insiders, Trump has chosen Paul Atkins to serve as the chairman of the SEC. One insider revealed that Trump has contacted Atkins and is awaiting his acceptance. Atkins's spokesperson did not immediately respond to a request for comment.
Current SEC Chairman Gary Gensler will leave office on January 20. Additionally, Atkins will need Senate confirmation unless Trump opts for a recess appointment during the Senate's recess. Paul Atkins, a former SEC commissioner under the George W. Bush administration, is known for opposing high fines against companies violating securities laws. He has been supportive of the crypto industry and remains active in his consulting firm, Patomak Global Partners, which he founded in 2009. Meanwhile, he has also served as co-chair of the industry association Token Alliance, which advocates for digital assets and the blockchain industry since 2017.
Tether has minted 16 billion USDT on Ethereum and Tron since November 6.
According to Lookonchain monitoring, Tether has minted 16 billion USDT on Ethereum and Tron since November 6.
Core developer of Anza: @solana/web3.js has been hacked; please upgrade to version 1.95.8 as soon as possible.
Core developer Trent.sol of the team responsible for handling congestion on the Solana network stated on X: "Any users of @solana/web3.js versions 1.95.6 and 1.95.7 may be attacked by secret key stealers that leak private keys. If you or your product is using these versions, please upgrade to 1.95.8 (1.95.5 is not affected)."
If the service you run can blacklist addresses, please execute the operation using FnvLGtucz4E1ppJHRTev6Qv4X7g8Pw6WPStHCcbAKbfx.
CryptoQuant: Bitcoin exchange reserves have dropped to their lowest level in years.
The reserves of Bitcoin exchanges have plummeted to their lowest level in years, indicating that investors are gaining confidence in holding Bitcoin for the long term. CryptoQuant data shows that since November 5, when Trump won the US election, more than 171,000 Bitcoins have been withdrawn from major crypto exchanges. This trend reduces the liquid supply of Bitcoin, indicating that investors are moving their holdings to cold wallets, which may be part of their long-term strategy. Since 2021, exchange reserves have been declining, reflecting a broader trend of long-term holding. According to CryptoQuant, exchange reserves were about 3.2 million Bitcoins in October 2021, and have now dropped to 2.46 million, the lowest level in years. Similarly, Glassnode data shows that its illiquid supply metric (i.e., Bitcoins held by long-term investors who do not trade actively) has increased by 185,000 in the past 30 days, reaching a record 1.48 million Bitcoins, which accounts for about 75% of the current circulating supply (approximately 19.79 million).
Arbitrum One's TVL exceeded $20 billion.
Arbitrum announced that Arbitrum One has just become the first L2 to reach a TVL of $20 billion; with the second phase approaching and the ecosystem growing across various verticals, Arbitrum One will continue to enhance its scalability.
Animoca Brands: Telegram revenue is expected to reach $1 billion in 2024
Animoca Brands' research department, Animoca Brands Research, released an analysis of TON and Telegram, highlighting that the TON Foundation's three-step plan is crucial for guiding Telegram users into the crypto space.
1. Promote click-to-earn social games in Telegram mini-apps.
2. Convert mini-program players into cryptocurrency owners through token airdrops.
3. Retain users through DeFi applications.
Animoca Brands stated that it predicts Telegram's revenue this year could reach $1 billion, marking a significant turning point compared to 2022 and 2023.
Saxo Bank: Trump's tariffs may benefit cryptocurrencies, and the market could quadruple to over $10 trillion.
Saxo Bank strategist John Hardy stated that if the proposed trade tariffs by the elected President Trump prompt other countries to seek alternatives to the dollar, the cryptocurrency market and gold may benefit. Tariffs will have a terrifying impact on global trade as they will cut off the needed supply of dollars. BRICS countries may conduct transactions using gold-backed digital currencies. Crypto stablecoins pegged to gold may also be used. The crypto market could quadruple to over $10 trillion, while the dollar may depreciate by 20% against major currencies and by 30% relative to gold.
Data: Three Bitcoin ETFs in Hong Kong traded 1.2 billion last month, setting a historical high.
Hong Kong Stock Exchange data shows that the total trading volume of three Bitcoin spot ETFs in Hong Kong reached approximately 1.2 billion in November, setting a historical monthly trading volume high, with OSL, Hua Xia Fund (Hong Kong), and Carnival International cooperating to launch the Hua Xia Fund's Bitcoin ETF and the Jiasheng International Bitcoin ETF achieving a total trading volume of 1.06 billion last month, accounting for about 88%.
JPMorgan: Listed Bitcoin mining companies' stock prices significantly rose in November, with overall market capitalization increasing by 52%.
A research report released by JPMorgan on Monday shows that with Bitcoin's price breaking $99,500 last month, the stock prices of some listed Bitcoin mining companies also significantly rose.
The report indicates that the market capitalization of 14 Bitcoin mining companies tracked by JPMorgan has increased by 52% quarter-over-quarter, reaching $36.2 billion. Among the best-performing companies in November, Singapore's Bitdeer saw its stock price rise by 83% during this period, reaching $14.27. Overall, last month, the stock prices of listed Bitcoin mining companies rose following the US election, with Argo Blockchain being the only miner to post a loss in November, with its stock price dropping by 3% to $1.08 last Friday.
Analysts say that Bitcoin mining revenue has dropped by 50% since the halving event in April. Although rewards remain relatively low, the increase in Bitcoin prices has made mining returns rise in November. Based on 1 EH, the daily revenue of Bitcoin mining companies in November increased by 24% from about $42,000 in October to $52,000.
The holdings of long-term Bitcoin holders have dropped to 12.45 million, a new low since July 2022.
According to IntoTheBlock, the current holdings of long-term Bitcoin holders have dropped to 12.45 million, a new low since July 2022. Data shows that the balance of long-term holders has decreased by 9.8% during this cycle, compared to 15% during the 2021 bull market cycle and 26% during the 2017 bull market cycle, showing a significant narrowing.
CoinShares: Last week, XRP digital asset products saw inflows of $95 million as traders bet on the approval of the XRP ETF.
CoinShares reported on Monday that last week, inflows into XRP digital asset products reached $95 million, accounting for 67% of the total inflows into such products this year, driving investors' allocations to XRP to over $141 million this year.
CoinShares research director James Butterfill stated that traders are likely betting on the approval of the XRP ETF, with Ripple CEO Brad Garlinghouse saying this trend is 'inevitable' in October. Butterfill wrote: 'We believe that the record weekly inflow into XRP is due to expectations for the potential launch of an XRP ETF in the US.'
Project news
Phantom: Not affected by the @solana/web3.js vulnerability; has not used the compromised version.
Regarding the hacking of @solana/web3.js, Phantom stated on X: "Phantom is not affected by this vulnerability. Our security team has confirmed that we have never used the compromised version of @solana/web3.js."
Earlier today, the core developer Trent.sol of the team responsible for handling congestion on the Solana network stated on X: "Any users of @solana/web3.js versions 1.95.6 and 1.95.7 may be attacked by secret key stealers that leak private keys. If you or your product is using these versions, please upgrade to 1.95.8 (1.95.5 is not affected)."
Layer 1 blockchain Namada launches mainnet and token airdrop.
Privacy-focused Layer 1 blockchain Namada has officially launched its mainnet and enabled the network's genesis block. This marks the beginning of the first phase of its decentralized mainnet rollout, involving staking and governance. The organization developing the project, the Anoma Foundation, proposed the initial mainnet software and genesis balance. The foundation clarified that it does not operate validators, so the Namada community retains full control. This release includes user airdrops. Eligible wallets will receive NAM tokens today, which they can immediately use for staking and governance. Token transferability will be activated in Phase 5, expected to be completed in a few months.
This issuance will be accompanied by the issuance of native tokens, with a total supply of 1 billion NAM tokens. The Anoma Foundation proposed the initial genesis distribution plan, with no lock-up period, to be distributed among community members, early contributors, and future development plans. The launch of the genesis mainnet will be divided into five phases, each driven by community decision-making through on-chain governance.
SynFutures announced the airdrop rules for the F token, which will be open for claiming on December 6.
SynFutures announced the airdrop rules for its F token, which will be open for claiming on December 6. This airdrop will distribute 750 million F tokens to community users, accounting for 7.5% of the total supply. Eligible users for the airdrop include active users of v1 and v2, active users of the Oyster Odyssey points program, and long-term active traders.
The ZKasino project team has resumed its leveraged long position on ETH, having borrowed to purchase 4,185 ETH just an hour ago.
According to on-chain analyst Yu Jin's monitoring, this morning the ZKasino project team just took profits and ended their leveraged long ETH position. As a result, after a drop tonight, the ZKasino project team resumed their leveraged long ETH position an hour ago: borrowing 15 million DAI from Aave through 2 addresses to buy 4,185 ETH at an average price of $3,584.
CleanSpark: As of September 30, the fiscal year holds 8,049 BTC, total assets reach $2 billion.
NASDAQ-listed miner CleanSpark released its performance report for the fiscal year ending September 30, 2024, which disclosed key data including:
1. Annual revenue of $378.9 million, an increase of $210.5 million from the previous fiscal year's $168.4 million, a growth rate of 125%; 2. Cash holdings: $122.2 million; 3. As of September 30, 2024, holding 8,049 Bitcoins, valued at approximately $509.5 million based on a price of $63,301; 4. Total assets: $2 billion.
pump.fun's revenue in November exceeded $93 million, setting a historical high.
According to Solana Floor, pump.fun's revenue for November reached $93.88 million, setting a historical high.
Aethir announces its second round of funding projects for its $100 million ecosystem fund.
Mark, co-founder of decentralized cloud infrastructure provider Aethir, announced the second round of supported projects for its $100 million ecosystem fund, focusing on AI agents themselves, leaning towards agents that execute not just on social media. Supported projects include: BitGPT, Humans.ai, Church of The Overseer, ARC Agents, OPUS.
Arbitrum became the first L2 on Uniswap with monthly trading volume exceeding $20 billion.
Uniswap Labs shared Dune data showing that Arbitrum has become the first L2 with monthly trading volume exceeding $20 billion on the Uniswap protocol.
Investment and financing
Bitcoin mining company MARA announces acquisition of a wind farm in Texas, USA
According to documents submitted to the US Federal Energy Regulatory Commission, the publicly listed Bitcoin mining company MARA announced it has acquired a wind farm in Texas, USA, from a joint venture with the National Grid Company and the Washington State Investment Board, with the specific acquisition price not disclosed. (Bloomberg)
Previously reported, MARA has raised the issuance scale of convertible senior notes to $850 million, with part of the proceeds to be used to increase Bitcoin holdings.
Digital financial platform Brighty has completed $10 million in funding, with Futurecraft Ventures participating.
Switzerland-based digital financial platform Brighty announced the completion of $10 million in funding, with Futurecraft Ventures participating. Brighty supports real-world crypto card payments and aims to address financial pain points such as poor user experience and lack of transparency for crypto users, with the new funds intended to expand its operations in Europe and the UK.
Pantera Capital completes $20 million fundraising to support the TON blockchain ecosystem.
Pantera Capital has raised $20 million from at least 29 investors through two separate funds, intending to use the funds to support the TON blockchain ecosystem and the cryptocurrency Toncoin. It is reported that Pantera Capital began engaging with investors in June. The minimum participation amount is $250,000, and the two new funds set up for Toncoin were established after announcing a bet on the Telegram-associated cryptocurrency in May.
Decentralized AI investment strategy analysis platform OpenPad AI has completed $2 million in funding, led by Basics Capital.
OpenPad AI, a data-driven investment strategy platform utilizing decentralized AI analysis, announced the completion of $2 million in funding, led by Basics Capital, with participation from Futurecraft Ventures, Spicy Capital, Green Arrow Adventures, VivaTech Ventures, Brinc, Boba Network, Avalon Wealth Club, Coin Bold, TechFarm, and others. OpenPad AI combines blockchain technology with artificial intelligence, allowing users access to investment strategies, project ratings, and real-time market insights while retaining control over their data.
Bitcoin mining company Argo Blockchain has raised £4.2 million through stock subscription.
Bitcoin mining company Argo Blockchain announced it has raised £4.2 million through stock subscriptions. After this transaction, Argo's total number of shares issued has exceeded 717 million, and an undisclosed institutional investor participated in this stock subscription. The new funds will support Argo in relocating its Bitcoin mining facilities to Texas.
Multi-asset investment platform Public has completed a $135 million D-2 funding round, with Accel leading the investment.
Multi-asset investment platform Public announced it has completed a $135 million D-2 funding round, of which $105 million is equity financing and $30 million is debt financing, led by Accel. Since its launch in 2019, Public has evolved from a "social stock trading app" to a comprehensive investment platform supporting five major asset classes (including cryptocurrencies), with its core brokerage business becoming profitable and deposit scale reaching billions of dollars annually. Its AI assistant, Alpha, is used by over 90% of users, facilitating a quarter of interactions to complete trades within 3 hours, with user average profits increasing for three consecutive years. The company plans to expand into more asset classes and AI capabilities.
Core Scientific plans to issue $500 million in convertible senior notes, with net proceeds to be used for general corporate purposes.
Bitcoin mining company Core Scientific announced a private placement of a total of $500 million in convertible senior notes due in 2031 to qualified institutional buyers. Core Scientific also hopes to grant the initial purchasers of the notes the option to purchase additional notes of up to $75 million in principal within 13 days (including the day of issuance) from the initial issuance date.
Core Scientific intends to use the net proceeds from this issuance for general corporate purposes, including working capital, operating expenses, capital expenditures, acquiring complementary businesses, or repurchasing its securities.
Regulatory trends
South Korean regulators: Ready to deploy a 10 trillion won stock market stabilization fund at any time.
According to Yonhap News, South Korean regulators stated that they are ready to deploy a 10 trillion won stock market stabilization fund at any time. Earlier news indicated that the South Korean government said it would provide unlimited liquidity to the market when necessary. Jefferies' global head of forex, Brad Bechtel, noted that South Korea's leadership had previously used this approach during significant political turmoil or transitions of power, but it remains concerning. He believes the won will remain volatile temporarily. This largely depends on how overseas investors react to the South Korean stock market. If they start to sell off, the dollar against the won could rise to 1450.
Voices
Analysts: The approval of the Solana ETF after Trump's election is just a matter of time, but does not mean 'it is about to happen.'
Bloomberg ETF analyst James Seyffart stated: "I mentioned many posts that are very optimistic about the approval of the Solana ETF. I do believe that under the SEC's management after Trump's election, this is just a matter of time, not whether it will happen, but this does not equate to 'it is about to happen.'"
ZachXBT: An OTC scammer was arrested in Europe for $17 million, having previously defrauded $7.1 million in TAO.
On-chain detective ZachXBT reports that an OTC scammer was raided in Europe and $17 million was seized.
In February 2024, it defrauded a TAO whale of $7.1 million (14,600 TAO), and this year also defrauded whales from ZYN, MOG, Kondux, Ordiswap, Landwolf, and Hash AI of over $8 million.
Slow Mist: Beware of @solana/web3.js supply chain poisoning; the poisoned version has been removed.
Slow Mist warns: "Pay attention to @solana/web3.js supply chain poisoning. Known versions 1.95.6 and 1.95.7 contain backdoor code that steals user private keys. The new version does not have this risk. Well-known wallets have not found this risk, but real attacks are occurring. It is speculated that third-party tools related to private keys (including bots) that update dependency packages in a timely manner may have been compromised, as the poisoned version only lived for a few hours before being discovered and removed. If you are using this package, please check carefully."
Hedge fund manager James Lavish: The Bitcoin network is a digital fortress capable of withstanding nation-state level attacks.
Hedge fund manager James Lavish stated: "The Bitcoin network is a digital fortress capable of withstanding nation-state level attacks."
Coinbase CEO: Approximately 25% of the company's balance sheet, excluding debt, is cryptocurrency, half of which is Bitcoin.
Coinbase CEO Brian Armstrong replied to a user on X, stating: "About 25% of our balance sheet (excluding debt) is cryptocurrency (about half of which is Bitcoin, similar to the percentage of total market cap). However, almost all of our liabilities are still denominated in dollars, so the question is just how much risk to take. We are not a hedge fund. I think there are reasonable grounds to believe that the cryptocurrency proportion could be higher, just a question of how much and why."
