Headlines
▌Trump's nominee faces violent threats, FBI launches investigation
The FBI has reported that it is aware of multiple bomb threats and harassment incidents targeting nominees from Trump's transition team and is working with law enforcement partners to investigate these incidents. The FBI stated that it takes all potential threats seriously and encourages the public to report any suspicious events to law enforcement immediately. Earlier, President-elect Trump’s transition team announced that several of Trump's cabinet nominees faced violence from 'non-Americans' on the evening of the 26th and the morning of the 27th.
▌The Mayor of Vancouver, Canada plans to launch a 'Bitcoin Friendly City' initiative
Ken Sim, who has served as the Mayor of Vancouver since 2022, announced that the city plans to add Bitcoin to its balance sheet as part of its investment diversification efforts.
At the Vancouver City Council meeting held on November 26, Mayor Sim submitted a motion notice that is scheduled to be proposed on December 11, titled 'Maintaining the City’s Purchasing Power through Financial Resource Diversification: Becoming a Bitcoin Friendly City'. As of November 27, the motion does not appear to have been published on the city government website, and the Vancouver Mayor's office declined to comment.
It is currently unclear whether the Mayor of Vancouver's motion is a response to the U.S. local and federal governments considering legislation to establish Bitcoin reserves. After the 2024 elections, legislators from Pennsylvania and the U.S. Senate have proposed plans for the government to hold Bitcoin as a reserve asset.
Market
As of the time of writing, according to Coingecko data:
The recent trading price of BTC is $95,888.47, with a daily change of +4.2%;
ETH's recent trading price is $3,653.58, with a daily change of +9.9%;
The recent trading price of BNB is $644.33, with a daily change of +5.3%;
The recent trading price of SOL is $241.36, with a daily change of +4.4%;
DOGE's recent trading price is 0.4002 yuan, with a daily change of +3.4%;
XPR's recent trading price is $1.47, with a daily change of +5.0%.
Policy
▌Trump's new government cabinet nominations are complete, with over five being 'crypto players'
On November 23 local time, President-elect Trump announced the nomination of Brooke Rollins as Secretary of Agriculture. With this, all cabinet nominees for Trump's new government have been confirmed. In addition, Trump has nominated several senior officials in recent weeks. From the new government's list, besides well-known names in the crypto market such as Musk and Howard Lutnick, several cabinet officials are firm supporters of cryptocurrency and have publicly disclosed their cryptocurrency holdings, including the nominated Vice President, Secretary of the Treasury, Secretary of Commerce, Secretary of Health and Human Services, and Director of National Intelligence.
▌Cryptocurrency supporter Paul Atkins becomes a popular candidate for SEC chairman
According to informed sources, President-elect Donald Trump's transition team has interviewed seasoned financial regulators and conservative financial backroom figure Paul Atkins as a candidate for the chair of the U.S. Securities and Exchange Commission (SEC). Sources say Atkins is the top contender to replace the outgoing Gensler. They say Trump is expected to make a choice in the coming days, and no decision has been made yet. Atkins served as an SEC commissioner during the George W. Bush administration and later founded Patomak Global Partners, a consulting firm for major financial clients. He is a strong supporter of digital assets and fintech companies. He has also testified before Congress on how to restructure the agency's operations and reduce what some industry insiders consider redundant or overly burdensome regulations.
▌Bitwise submits 10 cryptocurrency index ETFs to the SEC
Bitwise's submission to the U.S. Securities and Exchange Commission (SEC) includes 10 cryptocurrency index ETFs, including: Bitcoin, XRP, Solana, Cardano, Uniswap, Polkadot, Chainlink, Ethereum, Avalanche, Bitcoin Cash.
▌Musk and Ramaswamy will go to Capitol Hill to discuss reforms of the U.S. federal government
On November 27 local time, U.S. House Speaker Mike Johnson stated that entrepreneur Elon Musk and former Republican presidential candidate Vivek Ramaswamy will go to Capitol Hill on December 5 to discuss major reform ideas with House and Senate Republicans aimed at 'achieving regulatory rollback, administrative cuts, and cost savings'. Previously, President-elect Trump announced on November 12 that Musk and Ramaswamy would co-lead the proposed 'Department of Government Efficiency' after he takes office, which aims to 'pave the way for dismantling the bureaucratic structure of the government, cutting excessive regulations and wasteful spending, and restructuring federal agencies'.
Blockchain applications
▌Bitcoin miner IREN: has contacted a trillion-dollar company regarding hosting AI-related infrastructure
Daniel Roberts, co-CEO and co-founder of Sydney-based Bitcoin miner IREN, stated that a trillion-dollar company (large cloud service provider) has contacted the company regarding potentially hosting AI infrastructure at IREN's mining site in Sweetwater, Texas. He said, 'Two hours ago, we received an email from a trillion-dollar company expressing interest in Sweetwater,' and Roberts did not disclose more details.
Additionally, IREN's cost to mine Bitcoin is approximately $29,000, significantly below the market price of about $96,000, Daniel Roberts stated, presenting an opportunity for the company to accumulate Bitcoin at a discounted price compared to other companies paying spot prices.
▌The European Parliament approves the new list of commissioners, including those who may oversee cryptocurrency regulations.
The European Parliament approved the list of commissioners on Wednesday, including those responsible for overseeing digital asset regulation. Commissioners Stephane Sejourne, Maria Luis Albuquerque, and Henna Virkkunen may include cryptocurrency in their areas of responsibility.
In September, European Parliament President Ursula von der Leyen proposed a list of commissioners. Although cryptocurrency is not the core theme of these positions, the committee will be responsible for ensuring the implementation of digital asset rules. Additionally, the EU's cryptocurrency market legislation, MiCA, will come into full effect at the end of December, so more work may be needed to ensure implementation.
Cryptocurrency
▌Cryptocurrency trading volume surpasses the stock market, Bitcoin surge puts pressure on South Korean small-cap stocks
Bitcoin has surged rapidly, putting pressure on South Korean small-cap stocks. Since Trump won the election on November 5, Bitcoin has skyrocketed nearly 35%, while the KOSDAQ index, which is dominated by small-cap stocks, has fallen 8%, potentially becoming the worst-performing index in Asia this year. Analysts say part of the decline is due to small investors selling off stocks to invest in Bitcoin, exacerbating the index's loss of about one-fifth of its market value this year. Currently, trading volume on South Korean cryptocurrency exchanges has surpassed that of the benchmark KOSPI index. NH Investment & Securities digital asset analyst Hong Songuk said that since Bitcoin spot ETFs are banned in South Korea, investors are betting on leveraged funds engaged in Bitcoin futures trading, while others are buying shares of MicroStrategy (MSTR.O).
▌Arkham: Trump's address profited $3.5 million at one point from airdropped TROG and GUA
According to Arkham monitoring, Donald Trump's address profited from airdropped TROG and GUA, leading to a peak gain of $3.5 million. As of the time of writing, the 210.3 billion TROG held at Trump's address is valued at $1.94 million, and 1.388 billion GUA is valued at $524,000; both tokens were airdropped to Trump by developers.
▌Stablecoin trading volume surged to $1.8 trillion in November
According to a report released by CCData on November 27, trading volume for stablecoins surged by 77.5% this month, reaching $1.81 trillion as of November 25, a growth expected to push centralized exchange monthly trading volume to an annual high.
Reports indicate that the total market value of stablecoins continued its upward trend for 14 months, rising by 9.94% in November to reach $190 billion, surpassing the previous historical high of $188 billion set before the collapse of TerraUSD in April 2022. Despite the growth, as investors and traders increased their diversification into Bitcoin BTC and altcoins, the market dominance fell from 7.22% in October to 5.54%.
▌CryptoQuant analyst: Ethereum's 'second bull market' has begun
CryptoQuant analyst crypto sunmoon stated that Ethereum's 'second bull market' has begun.
Analysts state that in past cryptocurrency market bull runs, Ethereum has always experienced two rounds of increases, with the second bull market cycle always greatly exceeding the price set in the first bull market cycle.
Important Economic Dynamics
▌The probability of the Federal Reserve lowering interest rates by 25 basis points in December is 66.5%
According to CME's 'FedWatch', the probability of the Federal Reserve maintaining current rates through December is 33.5%, with the cumulative probability of a 25 basis point cut at 66.5%. The probability of maintaining current rates in January next year is 26.3%, with cumulative probabilities of a 25 basis point cut at 59.5% and a 50 basis point cut at 14.2%.
Golden Encyclopedia
▌What is an airdrop?
Airdrops are equivalent to surprise gifts in cryptocurrency. Imagine opening a box and discovering coins inside! This is similar to receiving news about free tokens or coins from new blockchain projects. Crypto airdrops involve the free distribution of digital assets to users' wallets or in exchange for completing simple tasks, such as following the project on social media or joining their online community.
In the crypto ecosystem, airdrops play a crucial role. New projects use airdrops as a marketing strategy to increase visibility and build user bases. They are like free samples in a supermarket, enticing users to try new products. From the user's perspective, airdrops provide an opportunity to obtain new cryptocurrencies with minimal effort and the potential for significant returns. These tokens are not just freebies; they are a way to participate in the evolving digital economy.
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 be sure to enhance risk awareness.
