1. Large token unlocks this week
In the next 7 days, large single unlocks (over $5 million) include IMX, BDX, ADA, APEX, ENA, YGG, TRIBL, AITECH, etc. In the next 7 days, linear large unlocks (daily unlocks over $1 million) include SOL, WLD, TIA, TAO, AVAX, DOGE, SEI, NEAR, DOT, SUI, FIL, ENS, JTO, MOCA, etc. The total value of unlocks exceeds $513 million.
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2. Musk responds to speculation of 'Biden possibly pardoning SBF': I would be shocked if this does not happen
In response to speculation on X about the possibility of FTX founder SBF receiving a presidential pardon from Biden, Musk stated on the X platform, 'I would be shocked if that doesn't happen.' The tweet hinted that this speculation might be related to the fact that SBF was once the second-largest donor to the Democratic Party. However, on a prediction market, the probability of Biden pardoning SBF is only 5%.
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3. VanEck: Strategic bitcoin reserves could reduce U.S. debt by 36% by 2050
VanEck's latest report predicts that by adopting strategic bitcoin reserves, the U.S. could significantly reduce its national debt by up to 36% by 2050. VanEck points out that if the average annual appreciation rate of bitcoin reaches 25%, its price could soar to $42 million by 2049. Mathew Sigel, head of research at VanEck, notes that bitcoin may become a global trade settlement currency in the future, providing an alternative for countries seeking to avoid dollar sanctions. Additionally, VanEck suggests halting the sale of bitcoin in the asset forfeiture reserves and initiating preliminary purchases through the Exchange Stabilization Fund (ESF) to accelerate reserve building.
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4. MicroStrategy increases its holdings of 5,262 bitcoins for $561 million
MicroStrategy increased its holdings by approximately $561 million for 5,262 bitcoins, with an acquisition average price of $106,662. The BTC yield year-to-date is 47.4%, and year-to-date is 73.7%. As of December 22, 2024, MicroStrategy holds 444,262 BTC, with an average cost of $62,257 and a total cost of approximately $27.7 billion.
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5. Trump appoints Bo Hines as Executive Director of the Digital Assets Advisory Committee
Trump confirmed on social media that Bo Hines will serve as Executive Director of the Presidential Digital Asset Advisory Committee, collaborating with Chairman David Sacks to promote innovation and development in digital assets. Hines was previously funded by a political action committee supporting cryptocurrency in his 2022 congressional campaign but was not elected. Trump also appointed former Treasury official Stephen Miran as Chairman of the Economic Advisory Committee; Miran had previously stated that excessive regulation could stifle bank lending and innovation in the crypto economy.
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6. Binance launches new coin pool Bio Protocol (BIO)
Binance's new coin pool launches Bio Protocol (BIO) allowing mining of BIO by locking BNB and FDUSD. Trading pairs BIO/USDT, BIO/BNB, BIO/FDUSD, and BIO/TRY will open on January 3, 2025, at 10:00 (UTC). Previously, Binance Labs made an undisclosed investment in the decentralized science project Bio Protocol. This is a pioneering protocol that utilizes blockchain technology to transform the financing and commercialization of early scientific research. The announcement states that the maximum initial supply of BIO is 3,320,000,000 coins, and it can be increased through network governance. The initial circulating supply at Binance's spot listing is 1,296,529,168 BIO (accounting for 39.05% of the total supply of the genesis token).
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7. Several North Korean hacker addresses are trading on Hyperliquid, currently with total losses exceeding $700,000
Several previously marked North Korean hacker addresses have recently been trading on Hyperliquid, with total losses exceeding $700,000. Several community members are concerned that these trading activities may indicate that North Korean hackers have targeted Hyperliquid and are testing system stability by executing trades.
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8. Wu's analysis of macro indicators this week: Speech by the Governor of the Bank of Japan, summary of the Bank of Japan meeting
Summary
Last week, the Federal Reserve cut rates by 25 bps as expected, but Powell's hawkish stance anticipates a slowdown in rate cuts next year. The U.S. November core PCE was below expectations. This week coincides with the Christmas holiday, and the European and American markets will be closed. Attention should be paid to the speech of the Bank of Japan Governor and the release of the December monetary policy meeting summary.
Last week's review
The Federal Reserve announces a 25 basis point rate cut, expecting to slow the pace of rate cuts next year.
The Bank of England announces that it will maintain the benchmark interest rate at 4.75%.
The number of initial unemployment claims in the U.S. for the week ending December 14 is 220,000, down from the previous value of 242,000.
The final annualized quarter-on-quarter real GDP for the U.S. in Q3 is 3.1%, expected 2.8%, previous value 2.8%.
The final annualized quarter-on-quarter core PCE price index for the U.S. in Q3 is 2.2%, revised from 2.1%.
The Bank of Japan announces that it will keep the benchmark interest rate unchanged at 0.25%.
The annual core PCE price index for the U.S. in November is 2.8%, lower than the expected 2.90%, unchanged from the previous value.
Key events & indicators this week
December 24
The Bank of Canada releases the minutes of the December monetary policy meeting (02:30)
The Reserve Bank of Australia releases the minutes of the December monetary policy meeting (08:30)
December 25
Bank of Japan Governor Kazuo Ueda delivers a speech
December 26
The number of initial unemployment claims in the U.S. for the week ending December 21 (in ten thousand) (21:30)
December 27
The Bank of Japan releases a summary of the opinions of the monetary policy meeting committee for December (07:50)
