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Korea token price manipulation case

Two Koreans were arrested for allegedly manipulating the price of ACE tokens on Bithumb. They made illegal profits of about 7 billion won (about 4.76 million U.S. dollars) by falsifying purchase orders to inflate trading volume. This is the first violation case after the enactment of South Korea's newly implemented "Virtual Asset User Protection Act", marking South Korea's crackdown on cryptocurrency market manipulation.

Bitcoin Forecast

Matrixport predicts that Bitcoin may perform strongly in 2025, with prices expected to reach $160,000, but may usher in a correction in 2026. This forecast is based on a comprehensive analysis of factors such as continued demand for Bitcoin ETFs, favorable macroeconomic trends, and an expanding global liquidity pool, showing the market's optimistic expectations for Bitcoin's future trend, while also reminding investors to pay attention to potential volatility risks.

FTX Reorganization Plan

The court approved FTX's Chapter 11 reorganization plan to take effect on January 3, 2025, and set today as the record date for the first distribution. BitGo and Kraken were designated as FTX distribution partners to assist customers and creditors in distributing recovery funds. The first distribution is expected to be completed within 60 days after the effective date. This marks that FTX's bankruptcy reorganization has entered the substantive execution stage, bringing a glimmer of hope to related customers and creditors, but the specific distribution amount and time still need further attention.

Re-election of Speaker of the U.S. House of Representatives

Mike Johnson, Speaker of the U.S. House of Representatives, was re-elected as Speaker on the first day of voting in the 119th Congress. Johnson previously supported and opposed the central bank digital currency (CBDC) bill. His re-election with pro-crypto lawmakers such as House Majority Whip Tom Emmer is expected to promote the process of cryptocurrency-related legislation in 2025 and create a more favorable policy environment for the development of the crypto industry in the United States.

Trump's Crypto Policy Focus

The first 100 days of Trump's presidency are very important, and crypto investors will pay close attention to multiple regulatory issues. They will pay attention to whether Trump will promote the establishment of a strategic Bitcoin reserve, clarify guidance on which cryptocurrencies should be classified as securities, and potential changes to the bill, which affects the accounting standards of cryptocurrency custodians. In addition, investors will also pay attention to whether the Federal Reserve will significantly cut its policy interest rate in 2025, which may have an impact on all risk assets, and the decentralization and security of the Bitcoin network are constantly improving.