1. MicroStrategy announced the acquisition of 15,400 BTC for $1.5 billion
MicroStrategy announced the acquisition of 15,400 BTC for $1.5 billion, at an average price of $95,976. MicroStrategy's quarter-to-date return rate (QTD) is 38.7%, and the year-to-date return rate (YTD) is 63.3%. As of December 2, 2024, MicroStrategy's total Bitcoin holdings have reached 402,100, with a total cost of approximately $23.4 billion and an average purchase price of $58,263 per coin.
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2. WISDOMTREE has submitted the S-1 application for the XRP ETF to the U.S. SEC
WISDOMTREE has submitted the S-1 application for the XRP ETF to the U.S. Securities and Exchange Commission. The ETF will issue beneficial rights common stock and will be listed on the Cboe BZX Exchange, with the ticker symbol TICKER. BNY Mellon serves as the trustee's manager, fund accountant, and transfer agent for the trust.
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3. Sora Ventures has launched a $150 million fund aimed at replicating the MicroStrategy model
Sora Ventures has launched a $150 million fund aimed at replicating the MicroStrategy model, using Bitcoin as the primary reserve asset to optimize financial strategies. The fund will target companies listed on major stock exchanges in Japan, Hong Kong, Thailand, Taiwan, and South Korea. In 2024, Japanese listed company Metaplanet collaborated with Sora Ventures to implement this model, and Metaplanet's stock price soared over 1,000% this year.
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4. South Korea has postponed the collection of cryptocurrency taxes until 2027 again
The leader of South Korea's main opposition party, the Democratic Party, Park Chan-dae, announced today the abandonment of the plan to implement a cryptocurrency capital gains tax in 2025, agreeing to postpone it for another two years until 2027. Previously, South Korea's plan to tax cryptocurrency gains was initially set for implementation in 2021. Once the tax is finally implemented, South Korean cryptocurrency investors will face a 20% tax on digital asset gains.
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5. Japan's Financial Services Agency proposed lightweight legislation for non-exchange cryptocurrency intermediaries
Japan's Financial Services Agency (FSA) is studying a lightweight regulatory framework for cryptocurrency intermediaries. These intermediaries do not directly engage in cryptocurrency trading but act as traffic guides for trading platforms (such as gaming applications or self-custody wallets) and do not touch cryptocurrency assets or cash. According to the proposal, relevant agencies must register as intermediaries, fulfill information disclosure obligations, comply with advertising restrictions, and bear potential liabilities in case of issues. The FSA is also considering compensation mechanisms, including requiring intermediaries to post a bond or hold the affiliated cryptocurrency exchange accountable.
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6. Large token unlocks this week
In the next 7 days, single large unlocks (amount greater than $5 million) include JTO NEON ADA TAIKO BANANA ENA AGI, etc. In the next 7 days, linear large unlocks (daily unlock amount greater than $1 million) include SOL WLD TIA TAO AVAX DOGE SEI NEAR DOT SUI FIL ARKM ENS ATOM, etc. The total unlock value exceeds $1.14 billion.
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7. Wu discusses this week's macro indicators and analysis: U.S. non-farm payrolls, Federal Reserve economic beige book
Summary
This week, focus on U.S. November non-farm payroll data, the Federal Reserve's economic conditions beige book, Powell's speech, etc.
Review of last week
The Federal Reserve released the minutes from the November monetary policy meeting: due to uncertainty about the neutral rate, the number of decision-makers who believe a gradual rate cut is appropriate has changed from 'some' to 'many'; almost all decision-makers believe that the risks to employment and inflation remain broadly balanced, and some believe that the risks of economic activity and labor market downturn have decreased, while many believe that the risks of a cooling labor market since the September meeting have diminished; some believe that adjustments to the ON RRP rate should be considered as the lower bound of the federal funds rate. 'New Federal Reserve News': The minutes suggest that if inflation progress stalls, a more cautious approach to rate cuts will be taken; Fed officials discussed a technical reduction of the ON RRP rate by 5 basis points at the 'next meeting'. (Wall Street View)
The annualized quarter-on-quarter revision of the U.S. third-quarter real GDP is 2.8%, in line with expectations and the initial value.
The annual core PCE price index in the U.S. for October rose from 2.7% to 2.8%, which also met expectations.
The number of initial jobless claims in the U.S. for the week ending November 23 is 213,000, expected 216,000, and the previous value was revised from 213,000 to 215,000.
Key events & indicators this week
December 02
UK, US, France, Germany, Eurozone Manufacturing PMI
China's November Caixin Manufacturing PMI (09:45)
December 04
U.S. November ADP employment figures (10,000) (21:15)
China's November Caixin Services PMI (09:45)
UK, US, France, Germany, Eurozone Services PMI
