Headlines
▌Do Kwon will be extradited to the US.
According to market news, Montenegro's Justice Minister Božović has signed a decision for Do Kwon to be extradited to the US.
▌Bloomberg: 'Tokenization' is becoming the new favorite on Wall Street, with this round of enthusiasm focusing on the digitalization of financial assets.
On December 27, news from Bloomberg reported that as Bitcoin prices hit historic highs, asset tokenization has once again become a hot topic in both traditional finance and the cryptocurrency sector. This technology, which digitizes physical assets and records them on the blockchain, is favored by Wall Street institutions including BlackRock. Industry insiders believe its potential may surpass that of the internet. This round of asset tokenization enthusiasm is driven by factors such as the Bitcoin bull market and Trump's election victory, differing from previous attempts to apply blockchain technology in scenarios like Walmart's supply chain tracking; this round focuses more on the digitalization of financial assets like real estate and bonds.
Market Trends
As of the time of writing, according to Coingecko data:
The recent transaction price of BTC is $94,171.78, with an intraday change of -1.7%;
The recent transaction price of ETH is $3,331.44, with an intraday change of -0.5%;
The recent transaction price of BNB is $692.87, with an intraday change of +0.8%;
The recent transaction price of SOL is $184.50, with an intraday change of -2.3%;
The recent transaction price of DOGE is 0.3125 yuan, with an intraday change of -0.1%;
The recent transaction price of XPR is $2.14, with an intraday change of -0.8%.
Policy
▌The State Administration of Foreign Exchange has released a report management method targeting high-risk transactions such as illegal cross-border financial activities involving virtual currencies.
On December 27, news from the State Administration of Foreign Exchange announced that the 'Bank Foreign Exchange Risk Trading Report Management Method (Trial)' has been released and is effective immediately. The method is a supporting document for the 'Bank Foreign Exchange Business Management Method (Trial)' aimed at strengthening banks' foreign exchange risk management and early identification, warning, and handling of high-risk transactions involving suspected false trade, underground banks, and illegal cross-border financial activities involving virtual currencies. The main content includes: clarifying banks' reporting responsibilities for foreign exchange risk transactions, requiring the establishment of monitoring systems and reporting; stipulating the scope of information reporting, including activities suspected of illegal cross-border capital flows; clarifying report contents, such as basic situations and proposed measures; and strengthening internal management measures, including internal control systems and confidentiality management.
▌The Central Bank of Cambodia has approved compliant stablecoin services but still bans Bitcoin.
On December 27, news from the Phnom Penh Post reported that the National Bank of Cambodia (NBC) announced it would allow commercial banks and payment institutions to provide services related to stablecoins and asset-backed cryptocurrencies, but assets like Bitcoin remain banned. The new regulations require institutions to obtain approval before engaging in crypto asset exchanges, transfers, and custody services while prohibiting the use of customer assets. Previously, Cambodia blocked 16 unlicensed crypto trading websites to strengthen regulation of the digital asset market.
▌The IRS demands 'DeFi brokers' collect user transaction information.
According to rules published in Friday's Federal Register, the IRS requires 'DeFi brokers' to collect user transaction information. It is reported that 'DeFi brokers' will act like traditional brokers handling securities and are required to collect information about their users' transactions and send them 1099 forms. Brokers must send these 1099 forms to clients. In addition, some 'decentralized finance industry participants' must submit tax returns disclosing 'the name and address of each client.' The US Treasury noted that the final rule applies to 'front-end service providers' that 'interact directly with customers,' meaning entities operating major websites used to access decentralized protocols rather than the protocols themselves. According to the document, the rule is expected to take effect on or after January 1, 2027.
Blockchain Applications
▌The founder of ai16z has joined the Eliza project as an advisor.
AVA stated on platform X that ai16z founder Shaw has joined the Eliza project as an advisor. At the same time, Eliza Studios director, ai16z creative Jeff, Nous Research researcher Ropirito, and Ryze Labs founder Matthew also announced their roles as advisors to the Eliza project.
▌OKX will launch GRIFFAIN and ZEREBRO perpetual contracts.
On December 27, news reported that according to an official announcement, OKX will launch GRIFFAINUSDT contract trading at 3:00 PM (UTC+8) on December 27; and ZEREBROUSDT contract trading will open at 3:15 PM (UTC+8) on December 27. It is reported that Griffain is an AI agency platform that transforms user intent into action through interaction with AI agents on Griffain. Users can create personal AI agents and leverage their unique AI agent networks. ZEREBRO is an autonomous AI system designed to create, distribute, and analyze content across multiple decentralized and social platforms.
Cryptocurrency
▌Jito validators' tip income reached a record level of approximately $210 million in November.
According to a report by cryptocurrency research company Kairos Research, Jito's monthly revenue from priority fees and tips exceeded $100 million in November and December. Kairos stated that in 2024, Jito's validators' average monthly tip income increased by 32%. In November, monthly revenue peaked at around $210 million. The growth in Jito's tip income reflects the increasing popularity of the Solana network while highlighting the trend of validators boosting their income by prioritizing certain transactions, a practice known as Maximum Extractable Value (MEV).
▌The crypto market sector has seen a pullback for two consecutive days, while the CeFi and Hyperliquid sectors have risen against the trend.
On December 27, news reported that according to SoSoValue data, the crypto market sector has seen a pullback for two consecutive days, while the CeFi sector has risen against the trend, with a 24H increase of 0.36%. Within the sector, CEX-related tokens that saw significant increases yesterday continue to rise, with BGB up 28.86% in the last 24 hours, a nearly 72.8% increase in the past 7 days, and a 367.69% increase over the last month. Additionally, Huobi (HT) increased by 11.64%, OKB (OKB) by 7.01%, Gate (GT) by 6.69%, and HYPE, which dropped more than 10% yesterday, increased by 6.64% today. Within the Hypeliquid sector, PURR and Hypurr Fun (HFUN) rose by 5.43% and 7.52%, respectively. In other sectors, the DeFi sector dropped by 2.78%, Layer 1 and Layer 2 sectors fell by 3.05% and 3.88%, respectively, while the Meme sector dropped by 4.71%. The AI Agents sector, which had the highest increase yesterday, has seen a significant pullback today, with a 24H decrease of 7.7%, and Fartcoin (FARTCOIN) pulling back by 17.05%, while Virtuals ecosystem coins VIRTUAL, LUNA, and AIXBT fell by 9.64%, 7.02%, and 9.25%, respectively.
▌The US crypto industry calls on Congress to block new regulations for DeFi brokers.
On December 27, the IRS announced new regulations defining certain decentralized finance (DeFi) protocols as brokers, requiring them to fulfill customer identification (KYC) obligations, which has sparked strong opposition from the crypto industry. The regulation is expected to affect up to 875 DeFi brokers and 2.6 million taxpayers. Legal experts criticized the rule for overstepping its authority and potentially infringing on constitutional rights. Alexander Grieve, vice president of Paradigm, called on the newly elected 'pro-crypto Congress' to repeal the regulation through the Congressional Review Act (CRA). The Blockchain Association stated that this rule is 'the last-ditch effort to push the US crypto industry overseas' and said it would take action to resist it. Previously, reports indicated that the IRS required 'DeFi brokers' to collect user transaction information.
▌Analysts predict that crypto venture capital may exceed $18 billion by 2025.
According to PitchBook analyst Robert Le's forecast, venture capital in the crypto industry may exceed $18 billion by 2025, with multiple quarters seeing investments of $5 billion. The total amount of crypto venture capital in 2023 is about $9 billion, expected to reach $11 billion in 2024, with quarterly average investments ranging from $2 billion to $2.5 billion. Although investment activity slowed this summer, there has been a rebound post-election, and general-purpose venture capital firms are expected to refocus on the crypto space next year. Le also noted that the investment theme of 'crypto and artificial intelligence (AI)' will continue to heat up, as crypto technology may provide innovative solutions to certain core issues during the AI expansion process, potentially becoming a new growth point.
Important Economic Dynamics
▌Offshore RMB against the US dollar rose 29 points compared to Thursday's New York closing.
Offshore RMB (CNH) against the US dollar reported 7.3001 yuan at 05:59 Beijing time, up 29 points compared to Thursday's New York closing, trading overall in the range of 7.3098-7.2948 yuan during the day.
▌Today's Fear and Greed Index remains at 74.
Today's Fear and Greed Index remains at 74. Note: The Fear Index threshold is 0-100 and includes indicators: Volatility (25%) + Market Trading Volume (25%) + Social Media Heat (15%) + Market Surveys (15%) + Bitcoin's Proportion in the Overall Market (10%) + Google Trends Analysis (10%).
Jinse Encyclopedia
▌What is the RLUSD stablecoin from Ripple Labs?
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 and trading. As a stablecoin pegged to the US dollar, 1 RLUSD equals 1 dollar. Each RLUSD maintains a 1:1 peg. The collateral assets are either dollar deposits or cash equivalents.
Disclaimer: Jinse 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 enhance risk awareness.
