Compiled by: Luan Peng, ChainCatcher
Important Information:
Coinbase: Delisting wBTC because Justin Sun brought "unacceptable risks"
Senate Banking Committee Chair-elect Promises His Panel Will Have a Cryptocurrency Section
Trump has won enough electoral votes to officially win the presidency
Bitwise Launches Solana Staking ETP in Europe
Lawyer: A local public security agency in China determined in August that a certain case of using VPN to speculate in cryptocurrencies was illegal, and the profits from the speculation were confiscated
Mining company CleanSpark has completed the issuance of convertible senior notes totaling US$650 million
NYSE-listed Cango spends $256 million to buy Bitmain mining machines
He Yi: Most Meme coins have returned to zero, Binance will put hundreds of hot projects into the Binance Alpha observation area
“What important events have occurred in the past 24 hours?”
Coinbase: Delisting wBTC because Justin Sun brought "unacceptable risks"
According to CoinDesk, Coinbase said it decided to delist wBTC because Justin Sun would bring "unacceptable risks." Last week, BiT Global, the issuer of wBTC, filed a wide-ranging lawsuit accusing Coinbase of improperly favoring its competitor cbBTC.
But in a 25-page response, Coinbase said the decision was related to Justin Sun, the founder of the Tron blockchain, who has also been accused of fraud and market manipulation in the United States. According to Coinbase's filing, Sun is connected to wBTC through a partnership announced in August. "Given Justin Sun's involvement, Coinbase, like many others in the industry, has serious questions about whether BiT can be a reliable steward," Coinbase said.
Senate Banking Committee Chair-elect Promises His Panel Will Have a Cryptocurrency Section
Tim Scott, the incoming Republican chairman of the U.S. Senate Banking Committee, said in a speech at the Blockchain Association Policy Summit: "In my opinion, cryptocurrency is the next wonder of the world."
Tim Scott promised that his group will have a cryptocurrency branch and will chair the creation of a digital assets subcommittee for the first time.
Tim Scott said that both houses of Congress and the administration of President-elect Donald Trump will be working in the same direction to push legislation, and two starting points will be the (21st Century Financial Innovation and Technology Act) (FIT21), which aims to establish comprehensive crypto market guardrails and was passed by the House of Representatives with a large bipartisan majority this year, and a stablecoin bill that is close to reaching a bipartisan agreement but has stalled due to some sticking points on the role of federal and state governments.
Trump has won enough electoral votes to officially win the presidency
US President-elect Trump has won enough electoral votes in the Electoral College meetings of various states to officially win the presidency. The Electoral College meeting is a key link in the US presidential election system. The president needs to win 270 of the 538 electoral votes to be elected.
The final count shows that Trump won 312 electoral votes. Next, the results of the electoral votes of each state will be sent to Congress. Members of Congress will formally count the electoral votes at a joint meeting on January 6 and announce that Trump and Vance will be the next president and vice president respectively. Trump and Vance will be officially sworn in on January 20, 2025.
Bitwise Launches Solana Staking ETP in Europe
Crypto asset manager Bitwise has launched a Solana staking ETP in Europe, ticker BSOL. Solana staking firm Marinade will become Bitwise’s staking provider. BSOL will charge investors 0.85% per year.
Lawyer: A local public security agency in China determined in August that a certain case of using VPN to speculate in cryptocurrencies was illegal, and the profits from the speculation were confiscated
According to lawyer Wu Enxiang's official account, in August this year, a public security agency in a certain place in China determined that the act of circumventing the firewall to speculate in cryptocurrencies was an illegal act. The people involved were administratively punished and the profits from cryptocurrency speculation were confiscated.
The public security organs in a certain place in China found that a man used VPN to connect to the international network through illegal channels without authorization, contacted overseas customers who needed to buy a certain virtual currency through an overseas website, and then used a certain currency on an overseas trading app to buy a certain virtual currency at a low price, and finally sold it at a high price, engaged in the sale of a certain virtual currency. After being summoned by the public security organs, the man appeared in court to accept the investigation of the public security organs. He made an illegal profit of 90,000 yuan during the operation of the studio.
The administrative penalty decision stated that the man's behavior constituted unauthorized use of illegal channels for international networking. According to Article 6 and Article 14 of the (Interim Regulations on the Management of International Networking of Computer Information Networks of the People's Republic of China) and Article 11, paragraph 1 of the (Public Security Administration Punishment Law of the People's Republic of China), it is decided to order the offender Zhang San to stop networking, give him a warning and impose a fine of 15,000 yuan, confiscate illegal gains of 90,000 yuan, and collect eight mobile phones and eight computers used as tools for the crime.
Mining company CleanSpark has completed the issuance of convertible senior notes totaling US$650 million
Bitcoin mining company CleanSpark announced that it has completed the issuance of convertible senior notes totaling US$650 million. In addition, the company has repurchased 11.76 million shares of common stock for approximately US$145 million. These shares will be removed from the company's total outstanding shares.
According to Zach Bradford, CEO and president of CleanSpark, part of the funds are intended to support the addition of mined Bitcoin to its balance sheet.
NYSE-listed Cango spends $256 million to buy Bitmain mining machines
Cango, a NYSE-listed car dealer platform, announced that it has spent $256 million to purchase a Bitcoin mining machine with a computing power of 32 EH/s from Bitmain.
In addition, Cango has agreed to acquire additional rack-mounted Bitcoin mining machines with a total computing power of 18 EH/s from Golden TechGen (a company owned by former Bitmain CFO Max Hua) and other entities through the issuance of $144 million worth of common stock.
Earlier this month, Cango reported that it produced 363.9 BTC in November with 32 EH/s of deployed hashrate, without liquidating any assets. This production makes Cango the fifth largest listed Bitcoin miner by realized hashrate and the third largest by deployed hashrate.
He Yi: Most Meme coins have returned to zero, Binance will put hundreds of hot projects into the Binance Alpha observation area
He Yi, co-founder of Binance, said in X Spaces: “A few memes will survive, and most memes will return to zero. Whether it is VC coins or memes, we have a list of hundreds of hot projects, but some projects have some problems with the token economic model, and some platform data will be inflated. For these projects, we have also heard some rumors of insider trading during the continuous observation process.
Therefore, we will put these hot projects in Binance Alpha (observation zone). Projects entering the observation zone are not guaranteed to be listed on Binance. A project can only generate income and profit when it is beneficial to society, and it is possible to share the benefits with users. "
Arthur Hayes: The market is expected to plummet around January 20, and Maelstrom will reduce his position in advance
Arthur Hayes, co-founder of BitMEX, wrote (Trump Truth) that although he does not believe the US government will buy Bitcoin, this does not affect his optimistic view of its price prospects. Ultimately, the depreciation of gold will create dollars, which must find a place in physical goods/services and financial assets. It is known from experience that due to the limited supply of Bitcoin and the decreasing amount of coins in circulation, the fiat price of Bitcoin is rising faster than the global supply of US dollars.
The article ends by stating that the cryptocurrency market will experience a painful crash around Trump's inauguration on January 20, 2025, before entering the crash phase of the bull market. Maelstrom (Arthur Hayes' fund) will reduce certain positions in advance and hope to pick them up again at a lower price sometime in the first half of 2025.
Arthur Hayes added: "If the market breaks out around January 20, we will admit that we were wrong and will lick our wounds and get back on board."
South Korea’s former Democratic Party lawmaker sentenced to 6 months in prison for hiding cryptocurrency assets
Kim Nam-guk, a former member of the Democratic Party of Korea, attended the first public trial at the Seoul Southern Court today for allegedly concealing his cryptocurrency holdings and falsely reporting his assets in the 2021 and 2022 parliamentary property declarations. Former member Kim was accused of obstructing the parliamentary ethics committee's review of property changes by transferring part of his cryptocurrency deposits to a bank account to adjust the total amount of his assets and converting the rest into cryptocurrency. The court decided to sentence him to six months in prison. The incident is still under further investigation.
Binance will airdrop 135 million PENGU tokens to early buyers to compensate for data delays during spot listing
Binance announced that due to the delay in updating the token information of Pudgy Penguins (PENGU) by data provider CoinMarketCap, the market value and fully diluted valuation (FDV) data of the project were not updated in time when it was listed on Binance spot.
As a token of goodwill, Binance has reserved 135,000,000 PENGU tokens to be distributed to eligible users who purchase PENGU between 2024-12-17 14:00 (UTC) and 2024-12-17 14:37 (UTC). The airdrop allocation will be credited to eligible users’ accounts within 72 hours.
ECB board member Wensch: Not very interested in holding Bitcoin reserves
According to Jinshi.com, European Central Bank board member Wensch said he has little interest in holding Bitcoin reserves.
Binance will delist AKRO, BLZ, and WRX on December 25
According to the official announcement, Binance will delist and stop trading of all AKRO, BLZ, and WRX spot trading pairs at 03:00 (UTC) on December 25, 2024. The specific delisted trading pairs include AKRO/USDT, BLZ/BTC, BLZ/USDT, and WRX/USDT. All related trading orders will be automatically removed after the trading is stopped. After 03:00 (UTC) on December 26, 2024, the top-up of these tokens will no longer be counted in the account. After 03:00 (UTC) on February 25, 2025, Binance will no longer support the withdrawal of these tokens.
Binance will add 1000CAT/USDC and PENGU/USDC spot trading pairs
According to the official announcement, Binance will launch 1000CAT/USDC and PENGU/USDC spot trading pairs at 16:00 on December 19, 2024 (Eastern Time 8).
In addition, Binance will open trading bot services, i.e. spot algorithmic orders, for the following trading pairs at 16:00 (ET) on December 19, 2024: 1000CAT/USDC and PENGU/USDC.
USUAL airdrop is available and will be listed on Binance spot at 19:00
According to the official announcement, USUAL is now open for airdrops. Binance has ended USUAL pre-market trading and will open spot trading for the following currency pairs at 19:00 on December 18, 2024: USUAL/BTC, USUAL/USDT, USUAL/FDUSD and USUAL/TRY.
Binance Alpha announces first batch of projects: KOMA, Cheems, APX, ai16z and AIXBT
According to official news, Binance Alpha announced the first batch of projects, namely: KOMA, Cheems, APX, ai16z and AIXBT.
"What are the interesting articles worth reading in the past 24 hours?"
Extended from a16z crypto’s “2025 Crypto Predictions”: What are the top projects worth paying attention to next year?
The end of the year is one of my favorite times of the year as the top minds in the Web3 industry begin to share their high-confidence ideas and predictions for 2025. It’s an exciting time to outline the potential of the crypto industry in the year ahead. Earlier this month, a16z crypto released its list of big ideas for 2025. What protocols are already building in these key areas? Let’s explore in this new publication.
This time, I want to focus on the article published by a16z crypto: (A16Z Looking Forward to New Crypto Trends in 2025).
Roam Growth is about to go live, with millions of users, and the DePIN leader Roam is accelerating the implementation of the decentralized telecommunications data network ecosystem
As a hot emerging narrative in 2024, every move in the DePIN field has attracted much attention. In this track, Roam leads the market with excellent data and becomes the top DePIN project. As of December 15, 2024, the number of Roam's self-built nodes worldwide has exceeded one million, the number of registered users has exceeded 1.72 million, and the number of global hardware nodes ranks first on DePINScan.
Roam's technical advantage is one of the key factors that keep it ahead in the race. It uses advanced OpenRoaming™ technology and is the only Web3 IDP project party (on par with giants) among the 15 enterprise alliances of the Wireless Broadband Alliance (WBA) OpenRoaming™ program, and supports more than 4 million OpenRoaming™ available WiFi hotspots in more than 190 countries around the world.
The above data also proves the feasibility of large-scale adoption of Web3 applications in areas closely related to users' daily lives, and Roam's user-free business model has undoubtedly proven to be successful in the field of decentralized wireless networks.
In October this year, Roam announced that it would build a global Telecom Data Layer. At the same time, it launched Roam eSIM, which will accumulate a large number of users for the ecosystem in a short period of time in a low-cost, safe and convenient way, laying the foundation for the Roam Telecom Data Layer ecosystem layout.
Today, Roam Growth, one of the four modules of Roam Telecom Data Layer, is about to go online, which means the era of continuous revenue building for network participants has arrived.
Or simply put, Roam's DePIN Yields are coming.
Memecoin: a product of jokes, with a market value of hundreds of billions
How to reduce shitcoin risk from choosing Memecoin?
Full text of the draft of the “U.S. Strategic Bitcoin Reserve”: Manage BTC as a permanent national asset
On December 17, 2024, the Bitcoin Policy Institute drafted an executive order proposing to establish a strategic Bitcoin reserve under the Trump administration's U.S. Treasury Exchange Stabilization Fund (ESF). The order needs to be signed after Trump takes office to take effect.
Note: The Bitcoin Policy Institute is a nonpartisan, nonprofit organization dedicated to studying the policy and social impacts of Bitcoin and emerging monetary networks.
NFT data topic: Pudgy Penguins transaction volume accounts for more than 50% of the total Ethereum NFT volume, Mad Lads floor price exceeds 60 SOL
Anticipation for PENGU, ANIME, and Opensea token airdrops has pushed the total NFT market cap close to $11 billion.
Meme Hot List
According to the Meme token tracking and analysis platform GMGN market data, as of 19:30 on December 18:
The top five popular Ethereum tokens in the past 24 hours are: PEPU, PATRIOT, KIRBY, ISLAND, QF
The top five Solana popular tokens in the past 24 hours are: PENGU, Penguin, SHIKOKU, MOONX, UFD
The top five popular tokens in the past 24 hours are: VIRTUAL, BirdDog, MOODENG, CATOF, BANDIT
