Headline
▌Biden orders government departments to close on January 9, 2025.
On December 30 local time, U.S. President Biden ordered all federal government departments and agencies to close on January 9, 2025, to honor the late 39th President Jimmy Carter, who passed away on the 29th. In a statement, Biden said that for reasons of national security, defense, or other public needs, heads of federal government departments and agencies may decide to keep some offices and facilities open. Previously, the White House had declared January 9, 2025, a national day of mourning in memory of Carter.
▌El Salvador has increased its holdings of 53 BTC in the past 30 days, currently holding over 6,002 BTC.
On-chain data shows that El Salvador has increased its holdings of 53 BTC in the past 30 days, currently holding over 6,002.77 BTC (approximately $5.56 billion).
Market
As of the time of publication, according to Coingecko data:
The recent transaction price of BTC is $92,639.82, with an intraday fluctuation of -0.9%;
ETH's recent transaction price is $3,354.47, with an intraday fluctuation of -0.0%;
BNB's recent transaction price is $704.63, with an intraday fluctuation of +1.6%;
SOL's recent transaction price is $191.11, with an intraday fluctuation of +0.7%;
DOGE's recent transaction price is 0.3132 yuan, with an intraday fluctuation of -0.4%;
XPR's recent transaction price is $2.06, with an intraday fluctuation of -1.7%.
Policy
▌Analysis: The implementation of the MiCA legislation brings uncertainty to USDT compliance, which may impact the landscape of the EU cryptocurrency market.
The EU's MiCA legislation has officially come into effect, but Tether's USDT has yet to obtain compliance certification, raising concerns about its future in the EU market. MiCA imposes strict requirements on stablecoin issuers, and major stablecoins like Tether face capital reserve and liquidity requirements, which may lead to their exit from the EU market. Nevertheless, Tether's vast market capitalization and global adoption make it unlikely to suffer immediate financial impacts. Meanwhile, some EU exchanges have begun taking measures to comply with the new regulations, with Coinbase Europe having delisted stablecoins such as USDT. Analysts say that MiCA will drive some small and large companies out of the EU, promote market consolidation, and may lead to higher investment and operational costs.
▌The judge has postponed the trial between the CFTC and Gemini to January 21.
A New York court judge, Alvin Hellerstein, has decided to postpone the civil trial between the U.S. Commodity Futures Trading Commission (CFTC) and Gemini Trust Company to January 21, 2024, from the original trial date of January 13. This case stems from the CFTC’s 2022 allegations against Gemini for providing false or misleading statements when applying for Bitcoin futures contracts in 2017. The postponed trial date will coincide with the new president's inauguration, which may influence the CFTC's stance towards Gemini and other cryptocurrency companies. The court stated that further postponements will not be approved unless there are special circumstances.
▌The Blockchain Association is suing the U.S. IRS over digital asset reporting rules.
The U.S. Internal Revenue Service (IRS) recently issued new regulations requiring cryptocurrency platforms (including decentralized exchanges) to report digital asset transaction information and stipulating that starting in 2027, platforms must disclose taxpayer information and sales income related to digital asset transactions. In response, the Blockchain Association, in conjunction with the Texas Blockchain Association, has sued the IRS, arguing that the rule violates the U.S. Administrative Procedure Act and could negatively impact the U.S. cryptocurrency and decentralized finance (DeFi) industry. Blockchain Association CEO Kristin Smith stated that the lawsuit aims to protect the future of the U.S. cryptocurrency industry and support the interests of innovators.
▌MoonPay has received a license from the Dutch Authority for the Financial Markets under the EU MiCA legislation.
MoonPay announced on December 30 that it has received a license from the Dutch Authority for the Financial Markets under the EU MiCA regulation, allowing the cryptocurrency company to operate as a licensed cryptocurrency business in the Netherlands.
Blockchain applications
▌Musk: Community Notes is completely decentralized and open source.
Musk stated on X that the best way to ensure the accuracy of the Community Notes system is to become a contributor. He emphasized that the system is completely decentralized and open source, including the code and data, and any manipulation will be easily detected. Musk further pointed out that X and its team, including himself, cannot exercise editorial control over the system. The way the system operates is that those who once held differing opinions must reach a consensus for a comment to be displayed.
Cryptocurrency
▌ZachXBT: Blockchain Bandit transferred 51,000 ETH, approximately $172 million, after being dormant for 2 years.
The hacker known as Blockchain Bandit stole 51,000 Ethereum by successfully guessing weak private keys. After being dormant for nearly two years, blockchain investigator ZachXBT reported in a Telegram post on December 30 that all 51,000 Ethereum were transferred from 10 wallet addresses to a multi-signature address '0xC451D542'. These funds were primarily transferred in batches during the period from 8:54 PM UTC to 9:18 PM UTC on December 30, amounting to 5,000 Ethereum.
Prior to this, the stolen funds had been dormant in these 10 wallet addresses since 51,000 Ethereum were transferred on January 21, 2023. Around the same time, the hacker also transferred 470 Bitcoin.
▌Yesterday, GBTC saw a net outflow of $134.5 million, and ETHE had a net outflow of $17.4 million.
According to monitoring data from Farside Investors, the funding data for the U.S. spot Bitcoin ETF and spot Ethereum ETF yesterday (December 30) is as follows:
Spot Bitcoin ETF: GBTC saw a net outflow of $134.5 million, BTC had a net outflow of $31.7 million, and BITB had a net outflow of $31.4 million;
Spot Ethereum ETF: ETHE saw a net outflow of $17.4 million, ETH had a net outflow of $13.8 million.
▌CZ: We do not predict trends; we follow trends and strive to contribute.
CZ, the founder of Binance, stated on platform X, 'I am often asked what the next hot cryptocurrency will be. To be honest, I don’t know. I try to help as many projects as possible and see where they will take us. We do not predict trends; we follow trends (and strive to contribute).'
▌BlackRock's Bitcoin ETF is hailed as 'the greatest ETF launch in history.'
According to Bloomberg, the spot Bitcoin ETF IBIT launched by BlackRock has been dubbed 'the greatest ETF launch in history.' Since its launch in January 2024, it has quickly become one of BlackRock's largest funds. The success of IBIT has not only pushed Bitcoin prices above $100,000 but has also spurred an investment frenzy in the cryptocurrency sector. In less than a year, IBIT's growth has outpaced that of any of the 1,400 ETFs worldwide. Analysts say that the trajectory of IBIT's success is unprecedented, and it will be difficult for similar products to compete in the future.
Important economic dynamics
▌The probability that the Federal Reserve will keep rates unchanged in January next year is 88.8%.
According to CME's 'Fed Watch', the probability that the Federal Reserve will keep rates unchanged in January next year is 88.8%, while the probability of a 25 basis point rate cut is 11.2%. The probability of maintaining the current rate unchanged by March next year is 46.2%, the cumulative probability of a 25 basis point rate cut is 48.4%, and the cumulative probability of a 50 basis point rate cut is 5.4%.
▌The dollar index rose 0.13% on December 30.
The dollar index, which measures the dollar against six major currencies, rose 0.13% on the day, closing at 108.132 in the forex market. As of the close of the New York forex market, 1 euro exchanged for 1.0397 dollars, down from 1.0428 dollars the previous trading day; 1 pound exchanged for 1.2544 dollars, down from 1.2582 dollars the previous trading day. 1 dollar exchanged for 157.09 yen, down from 157.94 yen the previous trading day; 1 dollar exchanged for 0.9040 Swiss francs, up from 0.9018 Swiss francs the previous trading day; 1 dollar exchanged for 1.4359 Canadian dollars, down from 1.4411 Canadian dollars the previous trading day; 1 dollar exchanged for 11.0249 Swedish kronor, up from 11.0011 Swedish kronor the previous trading day.
▌The offshore yuan against the dollar fell 151 points from last Friday's New York close.
The offshore yuan (CNH) against the dollar was reported at 7.3152 yuan at 05:59 Beijing time, down 151 points from last Friday's New York close, fluctuating between 7.2978 and 7.3195 yuan throughout the day.
Jinse 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. As a stablecoin pegged to the dollar, 1 RLUSD equals 1 dollar. Each RLUSD maintains a 1:1 peg. These collateral assets are either dollar deposits or cash equivalents.
Disclaimer: Jinse Finance, as a blockchain information platform, publishes articles solely for informational reference and does not constitute actual investment advice. Everyone should establish a correct investment philosophy and be sure to enhance risk awareness.
