Headlines
▌Texas State Representative calls for the establishment of a Bitcoin reserve
Texas State Representative Giovanni Capriglione introduced a bill in December calling for the 'Lone Star State' to establish a Bitcoin reserve. The draft bill stipulates that Texas must hold Bitcoin for at least five years. According to the bill, the cryptocurrency must be stored in cold storage, meaning kept on some device not connected to the internet, and these assets cannot be used for transactions outside of Texas.
▌Interpol is seeking Hex founder Richard Heart on charges of tax evasion amounting to hundreds of millions of euros and assault
Interpol has issued a 'Red Notice' on behalf of Finland to its member countries, seeking the founder of Hex and PulseChain, Richard James Schueler, who is commonly known in the cryptocurrency community as Richard Heart. A Red Notice is a formal warning issued to Interpol member countries, informing them that a valid national arrest warrant has been issued for a person. If the wanted person is detained in another country, this notice typically triggers extradition procedures. The European Union's law enforcement agency, Europol, indicates that in this case, Finland has issued an arrest warrant for Schueler on charges of tax evasion amounting to 'hundreds of millions of euros' and for allegedly assaulting a 16-year-old girl. The website states: 'Schueler has failed to submit corporate tax returns for years and has not provided income information on pre-filled personal tax returns... the total amount of tax evasion reaches hundreds of millions of euros.' The website also describes the assault allegations against Schueler, claiming that he assaulted a 16-year-old girl.
Market Trends
As of the time of writing, according to Coingecko data:
BTC recent transaction price: $97,188.00, daily fluctuation: -0.1%;
ETH recent transaction price: $3,358.39, daily fluctuation: -3.0%;
BNB recent transaction price: $665.26, daily fluctuation: -2.6%;
SOL recent transaction price: $182.55, daily fluctuation: -6.5%;
DOGE recent transaction price: 0.319 yuan, daily fluctuation: -1.6%;
XPR recent transaction price: $2.24, daily fluctuation: -1.4%.
Policy
▌The French Financial Markets Authority has approved HEXARQ SAS to provide trading services and cryptocurrency custody
The French Financial Markets Regulator, Autorité des Marchés Financiers (AMF), has approved HEXARQ SAS to provide trading services and cryptocurrency custody.
▌El Salvador plans to increase BTC purchases, with a mid-term goal to acquire 20,000 more BTC
Max Keiser, a senior Bitcoin advisor in El Salvador, stated, 'President Bukele has increased the daily Bitcoin purchase volume, with a mid-term goal of purchasing an additional 20,000 Bitcoins.
▌UAE's Ministry of Interior and FSRA Collaborate to Combat Crimes Related to Virtual Assets
The Ministry of Interior of the United Arab Emirates (UAE) has signed a memorandum of understanding with the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) to enhance coordination in combating crimes related to virtual assets. The agreement requires both parties to share information and strengthen the risk mitigation framework. Reportedly, this agreement also aims to support the UAE's strategy to protect its financial system from the evolving threats in the digital asset space.
▌Informed sources: The U.S. plans to blacklist AI company Sophgo associated with Bitmain
An informed source revealed that the Biden administration plans to place AI company Sophgo, associated with Bitmain, on the U.S. Department of Commerce's restricted trade list, due to the company's TSMC-manufactured chips being illegally incorporated into Huawei's AI processors.
Blockchain Applications
▌ai16z Founder: Aethir will provide free GPU computing power for Eliza agents' developers
ai16z founder Shawn stated on platform X that the decentralized computing network @AethirCloud is providing free GPU computing power for Eliza agents' developers. Developers with related needs can apply.
Cryptocurrency
▌Bitcoin mining company Hut 8 has purchased 990 Bitcoins for approximately $100 million
Bitcoin mining company Hut 8 has purchased 990 Bitcoins (BTC) for approximately $100 million.
▌An American YouTuber discovered that the Taliban frequently trades meme coins and suffers from rug pulls
An American YouTuber discovered that the Taliban frequently trades meme coins and suffers from rug pulls.
▌In the past week, NFT trading volume reached $304 million, with Ethereum NFTs accounting for 66%
CryptoSlam data shows that NFT sales reached $304 million in the past week, with a week-on-week increase of over 35%. Among them, Ethereum NFT sales increased by 76% week-on-week, reaching $201 million, accounting for 66% of all NFT sales in the past seven days. In contrast, Bitcoin NFT sales were $40 million, and Solana NFT sales were $29 million. The weekly sales total for Mythos Chain, Immutable, Polygon, and BNB Chain was $25.9 million.
▌Report: There have been 165 security incidents in the Web3 field so far in 2024, with losses exceeding $2.3 billion
According to a report by Cyvers summarizing key security trends for 2024, threats to Web3 networks have sharply increased this year, with losses exceeding $2.3 billion and a total of 165 security incidents. Although the loss amount is 40% higher than in 2023 ($1.69 billion), it is still $1.42 billion lower than in 2022 ($3.78 billion). Notably, $1.3 billion of stolen funds have been recovered this year. Cyvers states that events related to access control (67 incidents) accounted for 81% of the $2.3 billion in losses, while approximately 98 incidents related to smart contract vulnerabilities led to a total loss of $456.3 million, and one address poisoning incident resulted in over $68 million in losses. In the past three years, when breaking down losses by attack vector, data shows that losses related to access control violations have gradually increased from $769 million in 2022 to $1.9 billion by the end of 2024. In contrast, losses related to code exploits in 2023 and 2024 are far lower than the approximate $3 billion in losses in 2022.
Important Economic Dynamics
▌UBS: The outlook for U.S. stocks remains optimistic; the S&P 500 index may reach 6,600 points by the end of next year
UBS stated in its research report that against the backdrop of a strong U.S. economy, optimism around artificial intelligence, and future pro-growth policies in the U.S., the outlook for the U.S. stock market remains optimistic. We expect the S&P 500 index to reach 6,600 points by the end of 2025. Investors may consider using structured strategies to cope with volatility. We believe that in times of geopolitical tension, gold remains an effective portfolio hedging tool. (Jin Shi)
▌Biden signs emergency funding bill to prevent U.S. government 'shutdown'
According to the Financial Associated Press, U.S. President Biden has signed an emergency funding bill to prevent a government 'shutdown'. This latest bill will continue to provide operational funds for the U.S. government until March next year, thereby avoiding a 'shutdown' of federal agencies after 12:00 AM Eastern Time on the 21st.
Golden Encyclopedia
▌What is Rollup?
Rollup is a method of processing transactions on Layer 2 protocols that can free up valuable space on the base layer. Rollups fold transactions on the second layer one by one, sometimes folding dozens of times, and then roll them together to send the data back to Layer 1. There are mainly two types of Rollups: optimistic and zero-knowledge (ZK) proofs. Optimistic Rollup is a fairly straightforward term. It means that the Rollup operates on an 'optimistic' approach, assuming transactions are valid unless a validator proves them otherwise. They only check the validity of transactions in the case of disputes. ZK Rollup proves transactions without disclosing any transaction data. Hence, it is called 'zero-knowledge'. ZK Rollup provides instant finality, as cryptographic proofs guarantee the validity of the data. In many ways, Rollup is to your standard blockchain transaction what Calzone is to a regular pizza slice. By rolling, you can fit in more.
Disclaimer: As a blockchain information platform, Jinse Finance's published articles are for informational reference only and do not constitute actual investment advice. Everyone should establish a correct investment concept and raise risk awareness.
