Headlines
▌USDC Treasury has issued an additional 50 million USDC
According to Whale Alert monitoring, USDC Treasury has issued an additional 50 million USDC on the Ethereum network 2 minutes ago.
▌BlackRock doubles down on its investment in IBIT through its global allocation fund
Documents submitted by BlackRock to the U.S. Securities and Exchange Commission (SEC) show that as of October 31, its global allocation fund holds 430,770 shares of the Bitcoin spot ETF IBIT, valued at over $17 million. This represents a 117% increase from the 198,874 shares reported on July 31, as pointed out by a user named MacroScope on X. In addition, compared to the 43,000 shares registered in the first quarter, the currently reported number of IBIT shares is more than ten times higher.
The global allocation fund is a diversified investment product from BlackRock, covering short-term securities such as stocks, bonds, and money market securities in both U.S. and foreign markets, with its portfolio regularly adjusted. Although BlackRock has doubled its investment in its Bitcoin products, IBIT shares only account for 0.1% of the global allocation fund's total size of $16.5 billion.
Market
As of the time of writing, according to Coingecko data:
BTC recent trading price: $95,670.29, daily change: -3.7%;
ETH recent trading price: $3,329.83, daily change: -4.7%;
BNB recent trading price: $687.62, daily change: -2.1%;
SOL recent trading price: $188.29, daily change: -4.6%;
DOGE recent trading price: $0.3121, daily change: -6.6%;
XPR recent trading price: $2.15, daily change: -6.2%.
Policy
▌Strive Asset Management applies to the SEC for a Bitcoin bond ETF
Vivek Ramaswamy's Strive Asset Management has applied to the SEC for a Bitcoin bond ETF.
▌Bitwise has submitted an application for a Bitcoin Standard Company ETF to the U.S. SEC
Bitwise has submitted an application for a Bitcoin Standard Company ETF to the U.S. Securities and Exchange Commission (SEC). The fund aims to provide risk exposure to companies that adopt the #Bitcoin standard and have at least $1,000 BTC on their balance sheets.
▌Two former FTX executives receive sentence reductions
According to The Washington Post, the sentences of two former FTX executives seem to have been reduced. Based on information from the Federal Bureau of Prisons website, Ryan Salame began serving a 7.5-year sentence in October and is now expected to be released in March 2031. Caroline Ellison's expected release date is now July 2026, a few months less than her original two-year sentence. FTX filed for bankruptcy in 2022 due to concerns about its financial situation and its relationship with sister trading firm Alameda Research, leading to a rapid withdrawal of funds by customers, similar to a bank run. Authorities later accused FTX of misappropriating customer funds for personal use, to repay loans owed to Alameda Research and for other projects. This scandal resulted in a stunning downfall for FTX, which was once the third-largest cryptocurrency exchange in the world, and its founder Sam Bankman-Fried (SBF). Salame was the former co-CEO of FTX's Bahamas subsidiary and admitted to operating an unlicensed remittance business, violating campaign finance laws. Ellison was the former CEO of Alameda and admitted in December 2022 to charges of telecommunications, securities, and commodities fraud, as well as money laundering.
▌Cryptocurrency fraud causes financial fraud losses in France to reach 500 million euros annually
The French Financial Markets Authority (AMF) reports that cryptocurrency-related fraud is a major cause of approximately 500 million euros in losses for victims each year. French authorities are working with the Paris prosecutor's office, the Audit and Resolution Regulatory Authority (ACPR), and the Directorate General for Consumer Affairs and Fraud Control (DGCCRF) to intensify efforts to combat these fraudulent activities. Data shows that men under 35 are particularly susceptible. They are impatient and lack confidence in their investment knowledge. Scammers exploit social media platforms, promising unrealistic returns to take advantage of this demographic.
Blockchain Applications
▌Kyber Network: KyberSwap is expanding to Sonic, with aggregator and limit orders deployed
Kyber Network announced on X platform that KyberSwap is expanding to Sonic, with KyberSwap aggregator and limit orders now deployed.
Cryptocurrency
▌Wintermute: Companies following MicroStrategy to add Bitcoin to their balance sheets may become a trend in 2025
An analyst from market-making firm Wintermute stated that companies utilizing their equity to follow MicroStrategy's approach by adding Bitcoin to their balance sheets may become a major trend in 2025.
Wintermute OTC trader Jake Ostrovskis said, "I think that next year corporations and public companies trying to gain exposure will become a significant driving force. You will likely see small and medium-sized enterprises get involved as well."
Ostrovskis also predicts that some companies will follow MicroStrategy's strategy for ETH. He said, "It's probably just a matter of time before someone does the same thing, turning themselves into an Ethereum investment vehicle; at that point, you'll become the MicroStrategy of that space."
▌CryptoQuant analyst: Bitcoin investors with a holding period of 6-12 months have recently been the most active sellers
CryptoQuant analyst Yonsei stated that the Spent Output Age Bands (SOAB) indicator shows that long-term holders (LTHs) locked in significant profits during the bull market from November to December 2024. Investors with a holding period of 6 to 12 months have recently been the most active sellers, many of whom purchased Bitcoin during the launch of spot ETFs at the beginning of the year. Their selling activities have exerted some downward pressure on Bitcoin prices. However, strong demand has kept Bitcoin prices in the range of $90,000 to $100,000. At the same time, investors holding for over a year have sold less during this period, and the Binary CDD indicator shows that the volume of older coins sold in December was lower than in November, indicating that most long-term holders may still expect prices to rise further.
▌The TVL of the Base network has grown to over $3.5 billion
According to data from The Block, the TVL of the Base network has grown to over $3.5 billion. Additionally, Base's trading volume has maintained strong momentum throughout the fourth quarter, processing over 8 million transactions per day. Since March, the network has maintained steady growth, with daily transactions increasing from about 500,000 to over 7.5 million in December.
▌Yesterday, GBTC had a net outflow of $24.2 million, ETH had a net inflow of $6 million
According to monitoring data from Farside Investors, the funding data for the U.S. spot Bitcoin ETF and spot Ethereum ETF yesterday (December 26) is as follows:
Spot Bitcoin ETF: GBTC net outflow of $24.2 million, BITB net outflow of $8.3 million, BTC net inflow of $7.2 million;
Spot Ethereum ETF: ETH net inflow of $6 million, ETHW and ETHE have no inflow or outflow.
Important Economic Dynamics
▌Analyst: The S&P 500 index may reach a new high above 6100
Investment firm BTIG analyst Jonathan Krinsky: US stocks may continue to rise before the end of the year, pushing the S&P 500 index to a new high above 6100 points. However, looking ahead to January, market volatility will re-emerge. If the S&P 500 index does indeed reach a new high, there will be a significant divergence in breadth and momentum, which is another warning signal as we approach January.
▌The probability of the Federal Reserve maintaining interest rates in January next year is 87.2%
According to CME's 'FedWatch', the probability of the Federal Reserve maintaining interest rates in January next year is 87.2%, with a 12.8% chance of a 25 basis point rate cut. The probability of maintaining the current rate until March next year is 50.6%, with a cumulative probability of a 25 basis point rate cut at 44.1%, and a cumulative probability of a 50 basis point cut at 5.4%.
Golden Encyclopedia
▌What is Ripple Labs' RLUSD stablecoin?
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 is equivalent to 1 US dollar. Each RLUSD maintains a 1:1 peg. The collateral assets are either US dollar deposits or cash equivalents.
Disclaimer: Jinse Finance, as a blockchain information platform, provides articles for informational reference only and does not constitute actual investment advice. Please establish correct investment concepts and enhance risk awareness.