Headline

▌Gemini Trust agrees to pay $5 million to settle CFTC allegations.

Cameron and Tyler Winklevoss-led Gemini Trust agreed to pay $5 million to settle the lawsuit filed by the U.S. Commodity Futures Trading Commission (CFTC) over misleading statements made to regulators. In the 'proposed consent order' signed by both parties on Monday, the company agreed to settle but neither admitted nor denied the allegations in the agency's complaint.

The CFTC sued Gemini in June 2022 for making 'false or misleading statements of material facts.' The agency stated that Gemini made these statements to the CFTC between July and December 2017 while the company was undergoing an evaluation of Bitcoin futures contracts. The agency indicated in 2022 that Gemini was suspected of making these statements regarding whether the company's proposed Bitcoin futures contracts were 'susceptible to manipulation.'

▌Nvidia surpasses Apple to become the world's most valuable company.

Golden Finance reports that according to CompaniesMarketCap data, Nvidia has surpassed Apple to become the world's most valuable company.

Data shows that Nvidia's market capitalization is approximately $3.72 trillion, while Apple's market capitalization is approximately $3.719 trillion.

Market Trends

As of the time of publication, according to Coingecko data:

BTC's recent transaction price is $102,047, with a daily fluctuation of +3.5%;

ETH's recent transaction price is $3,678.16, with a daily fluctuation of +1.1%;

BNB's recent transaction price is $729.31, with a daily fluctuation of +2.8%;

SOL's recent transaction price is $217.88, with a daily fluctuation of +2.1%;

DOGE's recent transaction price is 0.3869 yuan, with a daily fluctuation of +1.4%;

XPR's recent transaction price is $2.41, with a daily fluctuation of +0.4%.

Policy

▌U.S. court documents indicate that the number of victims in the Do Kwon case may exceed one million.

According to Cointelegraph, prosecutors responsible for overseeing the criminal case against Terraform Labs co-founder Do Kwon estimate that the collapse of the Terra ecosystem may have resulted in over one million victims worldwide. On January 6, an acting U.S. Attorney, Daniel Gitner, submitted documents to the federal court in the Southern District of New York, notifying the court about the procedures for informing Kwon's victims of their rights in the criminal case. According to the U.S. attorney, the government will establish a website regarding the public procedures in the Kwon case, as other methods to provide rights protection for victims are 'impractical.'

Gitner stated: 'Given the enormous number of transactions involving Terraform cryptocurrency and the manner in which these transactions occur (many of which are conducted on foreign exchanges through digital asset wallets or cryptocurrency trading accounts without personal identification), while it is difficult to precisely quantify the number of victims Kwon has, the government estimates that the number of victims in this case exceeds hundreds of thousands of individuals and entities, and it may total more than one million.'

▌U.S. judge dismisses Trump's request to delay the ruling process in his 'hush money' case.

On January 6 local time, Judge Juan Merchan of the New York State Supreme Court dismissed President-elect Trump's request to delay the ruling process in his 'hush money' criminal case. It is understood that Trump's lawyers may continue to appeal to the New York Appellate Court.

Earlier on the 6th, Trump's lawyers appealed the ruling in his 'hush money' criminal case, requesting the judge to delay the ruling process scheduled for this week. A 12-member jury ruled on May 30, 2024, that Trump falsified business records in connection with a $130,000 'hush money' payment to an adult film actress to conceal it during the 2016 U.S. presidential election, leading to 34 criminal charges being established under relevant New York law.

▌The U.S. Congress officially certifies Trump's election as President, and Vance is elected as the next Vice President.

U.S. Vice President Harris announced on January 6 local time during a joint session of Congress that members of both the House and Senate officially certified the electoral vote count of the 2024 U.S. election, confirming that Trump received 312 electoral votes and was elected as the next President, with Vance elected as the next Vice President. (CCTV News)

▌Canadian Prime Minister Trudeau announces resignation as leader of the Liberal Party.

Canadian Prime Minister Trudeau delivered a speech on January 6 local time, announcing his resignation as leader of the Liberal Party. Trudeau will continue to serve as Prime Minister of Canada until the Liberal Party elects a new leader, who will replace him as Prime Minister. Additionally, on the morning of the 6th, Trudeau met with Canadian Governor General Mary Simon, requesting an extension of the parliamentary recess until March 24.

Blockchain Applications

▌Animoca Brands co-founder: memecoins are expected to launch their own L1 or L2.

Animoca Brands co-founder Yat Siu stated in an interview that the crypto industry is at a turning point, similar to the turning point he observed when the internet first changed business in the 1990s. The first part of large-scale adoption of cryptocurrency in 2025 is stablecoin adoption, and the next step is to expand memecoins more broadly across the entire blockchain ecosystem.

Yat Siu stated: 'I expect memecoins to launch their own L1 or L2. They are no longer just tokens; they are building communities and ecosystems. Memecoins are essentially cultural symbols. They are attracting people's attention and building narratives that resonate with individuals beyond financial speculation.'

Cryptocurrency

▌Nasdaq applies to raise the position limit for BlackRock's Bitcoin spot ETF from 25,000 to 250,000 shares.

According to a publicly available regulatory document, Nasdaq has submitted an application to the U.S. Securities and Exchange Commission (SEC) to increase the position limit for BlackRock's spot Bitcoin ETF (IBIT) from 25,000 shares to 250,000 shares. It is important to note that this application will also require SEC approval to take effect; the position limit refers to the maximum number of shares of the ETF that a single investor or institution can hold.

Bitwise Alpha Strategies Director stated: 'Considering the ETF's increasing trading volume, it would be reasonable to at least raise the position limit to 400,000 shares. The requests from Nasdaq and BlackRock are justified and supported by facts.'

▌MicroStrategy has purchased Bitcoin for nine consecutive weeks, with a total holding of approximately $44.3 billion.

MicroStrategy Inc. purchased $101 million worth of Bitcoin and previously announced plans to use perpetual preferred stock, common stock, and debt to buy more cryptocurrencies. This enterprise software company based in Tysons Corner, Virginia has purchased Bitcoin for nine consecutive weeks, and its co-founder and chairman Michael Saylor aims to advance its Bitcoin holding strategy. The company holds approximately $44.3 billion in Bitcoin. According to documents from the SEC, MicroStrategy purchased 1,070 Bitcoins at an average price of about $94,000 on December 30 and December 31. The company stated on Friday that it plans to raise up to $2 billion in the first quarter through the issuance of one or more perpetual preferred stocks. The preferred stock issuance is part of a capital plan to raise $42 billion through public stock offerings and the issuance of convertible bonds by 2027.

▌JPMorgan: Inflation and geopolitical risks may long support the demand for gold and Bitcoin.

JPMorgan noted in a research report that as investors prepare for ongoing geopolitical uncertainty, the so-called 'devaluation trade' flowing into gold and Bitcoin will 'continue to exist.'

The bank stated that as investors increasingly seek tools to hedge geopolitical risks and inflation, gold and Bitcoin 'seem to have structurally become more important components in investors' portfolios,' citing 'record capital inflows into the cryptocurrency market in 2024.'

JPMorgan stated, 'Devaluation trade' refers to the increasing demand for gold and Bitcoin due to various factors (including 'structurally higher geopolitical uncertainty since 2022, ongoing high uncertainty about long-term inflation prospects, and concerns about 'debt devaluation' caused by persistently high government deficits in major economies').

▌CryptoQuant Analyst: This bull market is likely to reach a cyclical peak in Q1 2025 or at the latest Q2.

CryptoQuant analyst Crypto Dan stated in an article on January 6 that the bull market that began in January 2023 is likely to reach a cyclical peak in Q1 2025 or at the latest Q2. The article stated: 'With a large influx of new investments and additional funds from existing investors, we can reasonably expect that the market is currently in the later stages of this cycle.'

The post stated: 'Therefore, the expectation of significant price increases for Bitcoin and altcoins remains worth anticipating. Nevertheless, from a conservative perspective and taking into account risk management, it is recommended to proceed with caution.'

▌Sui's TVL exceeds $2 billion, setting a new historical high.

On January 7, news from the public chain Sui on X platform stated that its total locked value (TVL) has exceeded $2 billion, setting a new historical high, taking only three months to reach the $1 billion mark. Sui stated that the recently announced and launched stablecoins, wallets, and lending protocols have driven Sui's growth. Industry giants such as Grayscale, VanEck, and Franklin Templeton have also provided momentum for Sui.

▌CryptoQuant CEO: This Bitcoin bull market may create the longest cycle.

According to the latest tweet from CryptoQuant CEO Ki Young Ju, this Bitcoin bull market cycle may be the longest in history. An increasing influx of capital is steadily driving market development, and there is still much potential value to be explored in the future.

▌Coinbase: DYP V2 token is not currently supported, the migration bridge will close at 19:00 on January 8.

Coinbase Assets stated that all DYP holders on Coinbase need to take action: Dypius (DYP) is migrating to DYP V2. The migration bridge will close at 6 AM ET on January 8, 2025 (7 PM Beijing time). Coinbase will not support DVP V2 and will suspend Dypius (DYP) trading at around 2 PM ET on January 17 (around 3 AM on January 18). All customers wishing to convert to DYP V2 must complete the conversion before the deadline of 6 AM ET on January 8.

Currently, the platform has no plans to support the DYP V2 token. If users still hold DYP and wish to convert to DYP V2, they will need to use the official DYP migration portal and a compatible self-custody wallet (such as Coinbase Wallet) for the conversion.

Coinbase.com (Simple and Advanced Trading), Coinbase Exchange, and Coinbase Prime will suspend DYP trading, and the DYP order book has currently been moved to limit order mode. Limit orders can be placed and canceled, and matches may occur.

Important Economic Dynamics

▌The yield on 30-year U.S. Treasuries hit a 14-month high, influenced by reports of Trump's tariffs and expansion pressures.

The yield on the 30-year U.S. Treasury bond rose by 5 basis points on Monday to around 4.86%, reaching the highest level since November 2023, as investors began to experience the potential turmoil in financial markets from Trump's presidency in the coming months. The pressure from the expansion of the bond market has had a certain impact, with weak subscription demand for the first batch of government bonds issued by the Treasury this week. Fears that Trump's policies will push inflation higher have put pressure on U.S. Treasuries in recent weeks. After (The Washington Post) reported that Trump's aides were considering narrowing the scope of the tariff plan, the dollar fell on Monday, and Treasuries regained some ground as the market believed this move would alleviate inflation concerns. However, with Trump's denial, market trends quickly reversed. PGIM Co-Head of Fixed Income Gregory Peters said in a television interview, 'There are a lot of bonds in the market, and the supply keeps coming. Coupled with the possibility that inflation may be stickier or may rise again, these factors are putting pressure on the bond market.'

▌The dollar index fell by 0.63% on the 6th.

The dollar index, which measures the dollar against six major currencies, fell by 0.63% that day, closing at 108.263 in the forex market. As of the close of the New York forex market, 1 euro was exchanged for 1.0388 dollars, up from 1.0301 dollars the previous trading day; 1 pound was exchanged for 1.2513 dollars, up from 1.2428 dollars the previous trading day; 1 dollar was exchanged for 157.54 yen, up from 157.21 yen the previous trading day; 1 dollar was exchanged for 0.9045 Swiss francs, down from 0.9091 Swiss francs the previous trading day; 1 dollar was exchanged for 1.4337 Canadian dollars, down from 1.4449 Canadian dollars the previous trading day; 1 dollar was exchanged for 11.0528 Swedish kronor, down from 11.1083 Swedish kronor the previous trading day.

Golden Encyclopedia

▌What is a compressed NFT?

CNFT is a newer non-fungible token that utilizes state compression technology to store data more efficiently on Solana. Unlike traditional NFTs that store all token metadata directly on-chain or through external links (like IPFS), cNFT uses Merkle trees to optimize data storage.

Disclaimer: Golden Finance, as a blockchain information platform, publishes articles for informational reference only and does not constitute actual investment advice. Please establish a correct investment concept and improve risk awareness.