Compiled by Luan Peng, ChainCatcher.
Important information:
The largest opposition party in South Korea: If Yoon Suk-yeol does not resign immediately, they will advance impeachment procedures.
Insiders: Trump has chosen Paul Atkins as the SEC chairman.
Insiders: Paul Atkins, the SEC chairman nominee chosen by Trump, is unwilling to accept the position.
Grayscale seeks to convert its Solana Trust into a spot ETF and list it on the NYSE.
Mining company Foundry will lay off 60%, affecting employees in U.S. and international offices.
A Russian court sentenced the founder of the crypto mixing service Hydra to life imprisonment.
"What important events have occurred in the past 24 hours?"
The largest opposition party in South Korea: If Yoon Suk-yeol does not resign immediately, they will advance impeachment procedures.
According to the Korean News Agency, after President Yoon Suk-yeol announced a state of emergency and lifted it more than 6 hours later, the largest opposition party in Korea, the Democratic Party, urged Yoon to step down immediately, stating that if he did not resign, they would advance impeachment procedures.
The Democratic Party issued a resolution containing the above content after convening an emergency congressional meeting that day. The resolution stated: "Yoon Suk-yeol's announcement to implement emergency martial law clearly violates the constitution and did not meet any of the conditions required for the declaration (of martial law); the declaration of emergency martial law itself is invalid and constitutes a serious constitutional violation, which is a serious act of internal turmoil and is a perfect reason for impeachment."
The Democratic Party stated, "If Yoon Suk-yeol does not resign immediately, it will represent the will of the people and immediately enter impeachment procedures."
Insiders: Trump has chosen Paul Atkins to serve as SEC chairman.
According to three insiders, Trump has chosen Paul Atkins to serve as chairman of the U.S. Securities and Exchange Commission (SEC). One source revealed that Trump has contacted Atkins and is awaiting his acceptance. Atkins' spokesperson did not immediately respond to a request for comment.
Current SEC Chairman Gary Gensler will resign on January 20. Additionally, Atkins needs to be confirmed by the Senate unless Trump opts for a recess appointment during the Senate's recess. Paul Atkins is known for opposing "high penalties for companies violating securities laws" during his time as an SEC commissioner under George W. Bush. He has consistently supported the crypto industry and is still involved in his consulting firm, Patomak Global Partners, which he founded in 2009. Meanwhile, since 2017, he has also served as co-chair of the Token Alliance, an industry association advocating for digital assets and blockchain.
Insiders: Paul Atkins, the SEC chairman nominee chosen by Trump, is unwilling to accept the position.
According to CoinDesk, Paul Atkins is President Trump's first choice for SEC chairman, but to accept the position, many factors need to align. A person familiar with Atkins' thoughts indicated that the role is not appealing to Atkins because he believes a significant amount of work is required to reverse the mismanagement of the bloated agency under Gary Gensler, and Atkins is reluctant to leave his global consulting firm.
Atkins, a former SEC commissioner, was seen at Trump's resort this week. He is scheduled to interview for the SEC chairman position on Sunday and Monday, according to another person familiar with the meetings.
Atkins is reportedly the founder and CEO of Patomak Global Partners, a global consulting firm focused on strategy, risk management, and regulatory compliance. Patomak serves crypto companies, but they are just part of its diversified business, which also includes traditional financial clients, public companies, industry associations, law firms, banks, and insurance companies. Before founding Patomak, Atkins was an SEC commissioner from 2002 to 2008, appointed by former President Bush. During his tenure at the SEC, Mark Uyeda and Hester Pierce worked under Atkins, who later also became an SEC commissioner.
Grayscale seeks to convert its Solana Trust into a spot ETF and list it on the NYSE.
Grayscale is seeking to convert its Grayscale Solana Trust (GSOL) into an exchange-traded fund (ETF). The trust was established by Grayscale in 2021 with total assets under management of $134 million. Grayscale becomes the fifth asset management company seeking to launch a SOL ETF.
The New York Stock Exchange Arca (the exchange where the ETF will be listed) submitted a 19b-4 application on Tuesday night. The U.S. Securities and Exchange Commission (SEC) requires exchanges to submit such applications to notify the SEC of proposed rule changes made by self-regulatory organizations (SROs).
Mining company Foundry will lay off 60%, affecting employees in U.S. and international offices.
According to CoinGape, bitcoin mining company Foundry has implemented layoffs, with up to 60% of its workforce affected. According to anonymous sources, the layoffs cover employees in both the U.S. and international offices. The company had 250 employees, now reduced to 80-90.
Foundry is a subsidiary of Digital Currency Group (DCG), which stated that the layoffs were implemented to help focus on DCG's next steps.
A Russian court sentenced the founder of the crypto mixing service Hydra to life imprisonment.
A Russian court sentenced Stanislav Moiseev, the founder of the online black market and crypto mixing service Hydra, to life imprisonment. The service handled over $5 billion worth of cryptocurrency during its operation.
According to a statement from the Moscow Prosecutor's Office on December 2, the Moscow Regional Court found Moiseev and his 15 accomplices guilty of organizing a criminal gang and producing and selling controlled substances and drugs illegally. Moiseev's 15 accomplices received sentences ranging from 8 to 23 years. Moiseev was also fined $38,100 (4 million rubles), while his 15 accomplices were ordered to pay a total of $152,400 (16 million rubles). As part of the sentencing order, properties and vehicles associated with the convicted persons were also seized.
According to Russian state media TASS, they will serve their sentences in a "strict regime".
Members of the South Korean cabinet collectively resign.
According to the Chosun Ilbo, South Korean cabinet ministers collectively resigned.
According to a passport official, all members of the National Security Council submitted their resignations to Prime Minister Han Duck-soo after meeting with him earlier that day.
According to reports, Han Duck-soo, the leadership of the National Power and President Yoon Suk-yeol are scheduled to meet at 2 PM in the Prime Minister's Office in Jongno-gu, Seoul to announce and lift the state of emergency.
Earlier that day, Chief of Staff Jeong Jin-seok, Policy Bureau Chief Song Tae-yeon, National Security Agency Chief Shin Won-sik, and all senior secretaries submitted their resignations to Yoon Suk-yeol.
Digital asset management platform Interlace completes $10 million B1 round financing, led by Bitrock Capital.
Digital asset management platform Interlace completes $10 million B1 round financing, led by Bitrock Capital, with participation from early employees and senior management from Klarna and Robinhood. The new round of financing will support Interlace's continued global expansion into key markets including the Asia-Pacific (APAC), U.S., and U.K.
Interlace is an enterprise-level global issuance and digital asset management company headquartered in Singapore, founded in 2019, providing efficient cross-border, cross-currency, and cross-system financial solutions for Web3, cross-border e-commerce, B2B trade, and developers.
Binance will remove the NOT/BNB and RDNT/BTC spot trading pairs.
Binance will remove and halt trading for the NOT/BNB and RDNT/BTC spot trading pairs on December 6 at 03:00 (UTC).
The Governor of the Bank of Korea: The country may enter a transitional period in the coming months, making it difficult to assess the political situation.
The Governor of the Bank of Korea stated that the country may enter a transitional period in the coming months, making it difficult to assess the political situation. He does not believe that turmoil will force the central bank to cut interest rates further.
Justin Sun: TRON network's revenue reached a record high yesterday, exceeding $20 million.
TRON founder Justin Sun announced on X platform that TRON network revenue hit an all-time high of over $20 million on December 3.
Data shows that TRON network's total revenue yesterday reached $21.66 million, of which staking income was approximately $16.52 million, accounting for 76.27%; and burning income was about $5.14 million, accounting for 23.73%.
Justin Sun: May launch a MicroStrategy version of TRX.
TRON founder Justin Sun posted on X platform, stating, "The success of MicroStrategy shows how innovation can overcome outdated regulations. Under the Trump administration, the U.S. has been unprecedentedly friendly to cryptocurrencies; how about directly creating a MicroStrategy version of TRX?"
Data: BNB's market cap surpasses SOL, ranking fifth in the cryptocurrency market cap leaderboard.
Coingecko data shows that BNB's market cap is approximately $113.28 billion, surpassing SOL ($112.52 billion), ranking fifth in the cryptocurrency market cap leaderboard.
"What are some wonderful articles worth reading in the past 24 hours?"
Dialogue with CocoCat co-founder: Reducing costs by over 90%, enhancing privacy protection, building infrastructure networks for large-scale Web3 applications.
Developing a Web3 application generally faces two major challenges: one is how to truly decentralize and ensure privacy and security, and the other is how to simplify development and reduce costs.
CocoCat co-founder Eric stated that currently, smart contracts can easily be implemented on the blockchain, but most of the application’s front-end and back-end are deployed through traditional methods on cloud servers like Amazon and Alibaba Cloud, bringing some centralized security risks and high-cost issues.
Based on this market pain point, CocoCat has built a more privacy and security-focused decentralized P2P network called Cat Network, and through two productivity tools, CocoAPP Framework and Self-Service Protocol, it reduces the development threshold, providing project parties with a cheaper and more decentralized application deployment method.
According to Eric, Cat Network can help developers reduce costs by over 90%. Currently, it has attracted around 400 projects from areas such as public chains, DeFi, and Web2.
To further validate and visualize Cat Network's capabilities in decentralization and privacy protection, Eric's core team has also developed a Web3 social product called CocoCat, which is completely decentralized and has stronger privacy protection compared to Telegram. It also incorporates more features tailored to the needs of Web3 users. The iterations on the CocoCat social application will also feedback to the underlying network, providing developers or project parties with capabilities that are closer to market needs.
Solana Foundation: Three major strategic directions for the integration of AI and crypto technology.
Currently, the intersection of AI and crypto technology is entering an "Cambrian explosion"-like experimental phase. This article elaborates on the three major development directions for the integration of AI and crypto by the Solana Foundation.
Wind vane? Wintermute recently deployed in 4 AI agent tokens.
At 23:05 Beijing time on December 3, Coinbase announced that it would include the meme coin MOODENG on Solana in its listing roadmap.
Subsequently, the price of MOODENG doubled within 10 minutes.
Notably, Arkham data shows that market maker Wintermute holds MOODENG worth up to $35.91 million, making it the meme coin with the highest value in its portfolio. Among the addresses holding MOODENG, Wintermute ranks third in terms of holdings.
What is the secret behind the surge in XRP?
Recently, the surge in XRP has caught everyone's attention, which is the result of multiple intertwined factors: technical breakthroughs, renewed interest from Korean investors (along with the lifting of the SEC lawsuit and the push from the WisdomTree S-1 filing), and the absence of historical sellers like Jed McCaleb. These factors collectively drove the demand for XRP, resulting in an extraordinary market performance.
The following is the original content (for reading comprehension, the original content has been reorganized):
The recent surge in XRP reveals the complex interaction between technical, market structure, and regional dynamics.
Decrypting the martial law in South Korea: a political rivalry that tears the national consensus.
On December 3, 2024, South Korean President Yoon Suk-yeol suddenly announced the implementation of "emergency martial law," a decision that shocked the South Korean political scene and triggered a serious constitutional crisis.
Of course, as always, the injured are cryptocurrency investors; the bitcoin price on South Korea's largest trading platform Upbit briefly plunged to $65,000.
After buying the most expensive banana, attracting global attention, we chatted with Justin Sun.
"Slash youth" Justin Sun recently gained two more titles: "Holder of the Banana from Cattelan" and "Advisor and Largest Investor in President Trump's Crypto Project World Freedom Finance."
Justin Sun's last sensational auction was in 2019 when he spent $4.568888 million on a charity lunch with Warren Buffett. This time, he did not expect that the banana he purchased for $6.24 million would garner unprecedented attention. "Even my relatives in the village saw the news and asked me about it." On November 29, Justin Sun held a banana launch event at The Peninsula Hotel in Hong Kong and publicly ate the banana.
After the meeting, Justin Sun gave an exclusive interview to PANews, expressing support for Hong Kong as a hub for art and Web3. He has heavily invested in Trump's crypto project and is optimistic about the development of the U.S. crypto market, looking forward to 2025.
