1. Trump nominated Robert Kennedy, who supports Bitcoin, as the US Secretary of Health and Human Services, and planned to form a pro-crypto team, including several cryptocurrency advocates including Elon Musk.
2. Musk’s case of manipulating DOGE ended as investors withdrew their appeal, bringing attention to his crypto market movements.
Musk's lawsuit against DOGE coin manipulation ends as investors withdraw appeal.
3. Fed's Goolsbee said that interest rates may be significantly lowered in the next 12 to 18 months as long as inflation continues to decline.
Fed's Goolsbee said that as long as inflation continues to decline toward the Fed's 2% target, interest rates will be significantly lower in the next 12-18 months. However, Goolsbee agreed with Fed Chairman Powell that policymakers are in no rush to cut interest rates. "As long as we continue to move toward our 2% inflation target, interest rates will be much lower than they are now over the next 12 to 18 months," Goolsbee said. -Original text
4. The U.S. national debt exceeded 36 trillion U.S. dollars for the first time, triggering market concerns about the economic situation.
The U.S. national debt exceeds $36 trillion for the first time in history.
5. CME Bitcoin futures weekly contracts are favored by institutional investors, reflecting the increased demand for the digital asset market.
CME's Bitcoin Friday Futures Weekly Contract is favored by institutional investors, reflecting the growing demand for digital asset markets. Since its launch in late September, CME Bitcoin Friday Futures Contract has traded more than 380,000 contracts, with an average daily trading volume of 12,400 contracts.
6. JPMorgan analysts believe that there may be positive progress in cryptocurrency regulation under the Trump administration.
Odaily Planet Daily News: Cryptocurrency markets climbed after the U.S. election, with Bitcoin hitting an all-time high of about $93,500 this week. JPMorgan analysts outlined six key regulatory and market changes that could reshape the U.S. cryptocurrency landscape under Donald Trump's administration and his Republican-led Congress. Analysts said several shelved crypto bills could be approved quickly. Among them is the (21st Century Financial Innovation and Technology Act) (FIT21), which could provide much-needed regulatory clarity by defining the supervisory responsibilities of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. In addition, as the regulatory framework becomes clearer, the SEC's strategy of increasing enforcement may evolve into a more collaborative approach. They said high-profile lawsuits against companies such as Coinbase may be mitigated, settled or even withdrawn. The SEC's (Staff Accounting Bulletin No. 121) (SAB 121) restricting banks from holding digital assets may be repealed. The SEC may require the settlement of lawsuits regarding unregistered securities and the launch of futures-based ETFs for these assets before approving spot ETFs. These factors could delay the approval of new ETFs or require re-filing. Greater regulatory clarity could increase venture capital, mergers and acquisitions, and IPOs in the cryptocurrency space. Although a strategic Bitcoin reserve would greatly enhance Bitcoin’s legitimacy and could drive up Bitcoin’s price, the likelihood of its passage is low.
7. Michael Saylor said that Bitcoin is America’s “destiny” and plans for a $100,000 New Year’s party are underway.
As MicroStrategy plans to acquire another $42 billion worth of BTC, Michael Saylor says Bitcoin is America’s “Manifest Destiny.” Preparations are also underway for the long-awaited $100,000 Bitcoin party, which Saylor expects to take place around New Year’s Eve.
8. Goldman Sachs disclosed that it holds 710 million Bitcoin ETFs, showing Wall Street's interest in crypto assets.
9. Bank of America said that as the cryptocurrency rebound continues, the rise of Meme coins may weaken.
Bank of America says Meme coins may lose momentum as the cryptocurrency rally progresses.
10. U.S. prosecutors plan to reduce the scale of their handling of crypto cases and reallocate resources to other financial crimes.
The Manhattan U.S. Attorney’s Office plans to scale back its handling of cryptocurrency cases. A prosecutor said the department will reallocate resources to prioritize other types of financial crime cases.
11. South Korean crypto exchange Upbit is facing scrutiny for allegedly violating KYC requirements and may be subject to heavy fines.
South Korea’s leading crypto exchange Upbit is facing scrutiny for allegedly violating KYC (Know Your Customer) requirements. During its license renewal, UPbit was reported to have accepted blurred IDs as verification materials, and could face fines of up to $71,500 per violation.
12. Ethereum ETF recorded its highest weekly trading volume since its launch, showing investors' continued interest in the asset.
Over the past week, Ethereum ETFs saw trading volume of over $1.63 billion, up more than 44% from the previous week. The following is an excerpt from The Block’s data and insights newsletter.
13. Trump nominated Robert Kenney Jr., who supports Bitcoin, as U.S. Secretary of Health, further demonstrating his inclination towards crypto-friendly policies.
Odaily Planet Daily News: US President-elect Trump nominated former Democrat Robert Kennedy (RFK Jr.), who supports Bitcoin, as US Secretary of Health and Human Services (HHS). During the 2024 presidential campaign, RFK Jr. advocated the establishment of a strategic reserve of Bitcoin, stabilizing the US dollar and exempting capital gains taxes on Bitcoin earnings. Part of his personal wealth is also invested in Bitcoin. In a statement, Trump said Kennedy would "make America healthy again" and was committed to clearing corruption in industrial food and medicine. Kennedy's nomination is part of the pro-crypto team formed by Trump, including Vice President-elect JD Vance and Secretary of Defense nominee Pete Hegseth. It is worth noting that Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy will jointly lead the newly formed government efficiency department "DOGE". In addition, market rumors say that Robinhood Chief Legal Officer Dan Gallagher may take over as Chairman of the U.S. Securities and Exchange Commission, replacing Gary Gensler, who currently has a tough attitude towards the crypto industry. -Original text
14. Kraken's L2 network Ink has launched fault proof and phase 1 functions to promote the development of blockchain technology.
Ink, a Layer 2 network under the crypto trading platform Kraken, posted on social media that it has launched fault proof and Phase 1. It supports: · Autonomous withdrawal of assets to Ethereum; · Review and challenge of rollup transactions on Ink; · The security committee will protect assets in the event of disputes. - Original text
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