The well-known exchange Binance launched the yield asset BFUSD on 11/22, combining the stability of stablecoins with a reward mechanism. BFUSD can not only be used as margin for futures trading but also provides daily rewards for holders. Recently, it has attracted attention due to an average annualized return exceeding 26%. This yield product, which utilizes hedging mechanisms to earn funding rates, offers a single collateral compared to the Ethena protocol on-chain, but guarantees 1:1 redemption; plus, it is easier to deploy derivative assets into the contract market, maximizing yields, and has already attracted $500 million in capital.

Coinbase's Chief Marketing Officer Kate Rouch recently announced on Twitter that she is about to leave Coinbase, where she has been for over three years, to join the AI giant OpenAI. Before joining Coinbase, Kate Rouch worked at Meta for over ten years, eventually rising to the position of Global Head of Brand and Product Marketing and Vice President. She then joined Coinbase and is now transitioning to OpenAI, having held significant positions along the way and participated in the massive shift from Web2, Web3 to AI.

Harvard graduate, powerhouse Kate from Web2, Web3 to the AI industry

Kate Rouch joined Coinbase in August 2021, and the successful marketing campaign during the Super Bowl was one of her proud achievements. She holds a bachelor's degree in History and Literature from Harvard University. She joined Meta in May 2010 and was one of the company's first marketers, primarily responsible for brand and product marketing for Instagram, WhatsApp, Messenger, and Facebook, witnessing Meta's growth from 500 million users to over 3 billion.

According to an exclusive report by Sanli News, the police officer from the Cyber Crime Prevention Center of the Criminal Investigation Bureau and his girlfriend are also under investigation for their involvement in the virtual currency case's leakage suspicion. However, after the two were released on bail and took a taxi north, they were involved in a serious car accident, resulting in the unfortunate death of the girlfriend.

Involved in virtual currency personal data leakage, the police officer and analyst girlfriend are under investigation.

The Cyber Crime Prevention Center of the Criminal Investigation Bureau recently investigated a virtual currency case. The police officer involved, due to work needs, repeatedly asked his girlfriend, who is a currency flow analyst, to assist in the investigation. However, the Taichung District Prosecutor's Office suspected that this act involved personal data leakage and launched a search at the Criminal Investigation Bureau's technology office on December 3, taking the police officer and his girlfriend back for clarification of the case. After questioning, the prosecutor decided to release the police officer on bail of 30,000 New Taiwan Dollars late at night.

The world is now divided into two: one is the AI food chain deployed by Nvidia across various industries, and the other consists of startups attempting to challenge Nvidia's AI dominance.

AI software-hardware integration startup Tenstorrent has secured $69.3 million in Series D financing, bringing the company's valuation to over $2.6 billion. This new round of financing was led by Samsung Securities and AFW Partners. Other investors include Hyundai Motor and Amazon founder Jeff Bezos.

Tenstorrent will utilize the newly raised funds to organize an engineering team and develop artificial intelligence training servers. Tenstorrent plans to release a new AI processor every two years and has signed customer contracts totaling nearly $150 million.

Ethereum co-founder Vitalik Buterin recently discussed his vision for the future of Ethereum, global public issues, and humanitarian aid in the Russia-Ukraine war, showcasing how he extends from technological innovation to actions of human concern.

First visit to China and the emergence of the local cryptocurrency community

Vitalik first visited China in 2014 and embarked on a three-week visit, visiting multiple teams in Beijing, Shanghai, Hangzhou, and Shenzhen, including exchanges like Huobi, OKCoin, and miners. Vitalik was impressed by the development of blockchain in China at that time, believing that its scale even surpassed that of the United States.

In an interview on 12/4, Vitalik Buterin, the founder of Ethereum, made many suggestions on the craze of meme coins, the possibility of combining charity and public welfare, and how to balance decentralization and malicious behavior. He also emphasized the importance of combining ideals with reality. nature and explore new directions for blockchain applications.

Everyone loves to play with meme coins, but can it be more meaningful?

Vitalik said that meme coins have become the most attractive area of ​​blockchain applications in recent years, but most of them are either speculation or hype. He proposed three directions to make meme coins more meaningful:

Combined with charitable donations: Meme coins can automatically set part of the proceeds to be donated to charitable organizations to promote the development of public welfare undertakings.

The largest publicly listed Bitcoin miner, Marathon Digital, announced the acquisition of a wind farm in Texas to achieve broader renewable energy deployment. The transaction is currently awaiting regulatory approval, expected to be completed in the first quarter of 2025. Additionally, Marathon Digital has recently issued convertible bonds to repay old debts and further purchase Bitcoin.

Marathon Digital acquires a wind farm

MARA will develop and operate a user data center powered by 114 megawatts of wind energy capacity, with zero energy costs. By operating the data center at this location, MARA hopes to alleviate grid congestion and promote renewable energy development.

Bitcoin has repeatedly set new highs this year but still cannot break the $100,000 mark, and this has persisted for a considerable amount of time; recently, the market has started to shift towards altcoins, and many mid-cap coins that existed before the last bull market have seen exaggerated gains. However, for long-term holders, this may not necessarily mean profits, as most coins have not surpassed their historical highs.

Taking the top 20 cryptocurrencies by market capitalization as an example, only 6 of them are expected to break their all-time highs in 2024 along with Bitcoin, of which two, TON and SUI, are emerging coins. Other major coins are still more than a 'year' away from their historical peaks; for example, Ethereum (ETH) is three years away from its high. XRP, which has risen over 400% in the past 30 days, is also far from its historical peak, which was reached 7 years ago.

On Monday, Trump stated that he wants to prevent Nippon Steel from acquiring U.S. Steel for $14.9 billion, which will heighten concerns about a global trade war as the Republicans return to the White House next month.

Trump stated in a statement that he opposes the acquisition of the once-great U.S. Steel by a foreign company, targeting Nippon Steel this time, and emphasized that as president, he will prevent this deal and make American steel great again!

Japan's largest steel manufacturer, Nippon Steel, announced last year its acquisition of U.S. Steel, a steel manufacturer founded in 1901 that played a crucial role in America's industrialization. In recent years, protectionism has risen in the U.S., and President Biden signed an order this year to terminate the acquisition in order to protect the domestic steel industry. U.S. Steel is located in Pennsylvania, a crucial swing state in American elections.

Coinbase Prime Onchain launches an institutional-grade wallet that enables seamless on-chain transactions and cross-chain Ethereum, Base, EVM Network and Solana to provide secure asset storage management for enterprise and institutional-grade customers.

Coinbase launched Onchain Wallet last year and released several new features to improve customer workflow efficiency. The Prime Onchain wallet and Coinbase Prime aggregation function are now self-service login, simplifying the account opening process. The next generation of capabilities also includes open APIs to further enhance the efficiency of organizations in automating complex workflows.

Introduction to Prime Onchain Wallet

Former lending platform Celsius CEO Alex Mashinsky pleaded guilty to fraud in court on December 3, becoming a focal point in another high-profile case following the FTX collapse in 2022. Once regarded as a 'pioneer of crypto banking,' Mashinsky was prosecuted for allegedly defrauding users, manipulating CEL token prices, and false advertising, and was brought to justice in 2023, now changing his plea to guilty. If the sentence is less than 30 years, he cannot appeal the verdict.

Admitted to manipulating the price of the CEL token and making false statements.

Mashinsky admitted to two counts of fraud, including commodity fraud and manipulating token prices, in a federal court in New York on December 3. He stated, 'I know I did wrong and am willing to make full amends.' Mashinsky also confessed to the judge that in December 2021, he lured customers to exchange Bitcoin for the platform token CEL through Celsius's investment plan, suggesting to users that Celsius had received regulatory approval, thus deceiving users' trust.

Two years after the FTX cryptocurrency exchange filed for bankruptcy, the team led by John J. Ray III has finally announced that it is about to complete the final Chapter 11 reorganization plan, with the distribution of proceeds expected to begin in early 2025. 98% of FTX creditors will receive approximately 119% of their allowed claim amounts within 60 days of the plan becoming effective. FTX Digital Markets, Ltd. (Bahamas) has recently issued a tax information submission notice, and users must complete this stage to proceed to the next stage of the claims process.

Please note: This process is limited to customers who originally chose to claim with FTX Digital Markets in the Bahamas. If you are participating in the U.S. claims process, please disregard this content.

Asset management company Grayscale officially submitted its Solana spot ETF application to the U.S. Securities and Exchange Commission (SEC) on December 3. If the application is approved, it will be an important step for Grayscale to convert its existing Solana Trust (Grayscale Solana Trust) into a spot ETF.

Official proposal on December 3, GSOL is preparing to list on the New York Stock Exchange.

Grayscale submitted the 19b-4 filing to the SEC on December 3, officially applying to convert its existing Solana Trust into a Solana spot ETF, with the stock code 'GSOL', and plans to list on the New York Stock Exchange. This move emulates Grayscale's previous successful transition of Bitcoin (BTC) and Ethereum (ETH) trust funds to spot ETFs.

Donald Trump, who will take office in the White House in January, has chosen cryptocurrency supporter Paul Atkins to be the next chairman of the Securities and Exchange Commission (SEC), Unchained reported, citing sources.

Gary Gensler recently announced that he would step down as SEC Chairman on January 20, 2025. At that time, many popular candidates for the next chairman speculated that the next chairman would be more friendly to the stock market and cryptocurrency. And Paul Atkins was on the list at the time.

Paul Atkins is an American financial expert who served as SEC Commissioner from 2002 to 2008. Prior to serving as SEC Commissioner, Atkins worked as a Wall Street attorney focusing on a variety of corporate transactions, including public and private securities offerings and mergers and acquisitions.

South Korean President Yoon Suk-yeol made the shocking decision to implement martial law for the first time in over 40 years, but reversed it hours later, leading to substantial fluctuations in the stock prices of Korean companies and the exchange rate of the Korean won (KRW). The S&P 500 index is still slightly up, setting a new high for the 55th time this year. Bitcoin briefly fell to 93K, and Ethereum dropped to 3,500 USD, but by the time of writing, it had recovered to 95K and 3,600. TRX and BNB both set historical highs.

Political turbulence in South Korea has caused significant fluctuations in related assets.

The iShares MSCI South Korea ETF fell by 7.1% in U.S. trading, while Samsung Electronics shares listed in London dropped by 7.5%. The Korean won (KRW) once fell by 2.9%. The BTC/KRW on major exchanges deviated from market prices at one point.

Lianhe News immediately grasped the news of martial law in South Korea when Yonhap News Agency announced the news on the evening of December 3. Talking about market reaction, the KRW/USD exchange rate fell by more than 2.8% in the short term, and had returned to a 1.8% decline by the time of writing. On the Bitcoin price, Upbit's BTC/KRW reached 88,266,000 (approximately 61,585.37 USD), Bithumb reached 110,000,000 (approximately 76749.72 USD), and XRP, HERB and other copycats experienced even greater fluctuations. However, as Congress voted 100% to lift martial law, this two-hour farce also came to an end.

(Chao Ono! South Korean President Yoon Seok-yue declares martial law: constitutional crisis)

On the evening of December 3, South Korean President Yoon Seok-yue declared a state of emergency martial law, appointed Chief of Staff Park An-soo as martial law commander, and issued six major martial law orders in an attempt to combat the "anti-national forces" he accused. This move not only attracted attention at home and abroad, but also rapidly heated up the political and social situation in South Korea.

(Chao Ono! South Korean President Yoon Seok-yue declares martial law: constitutional crisis)

Key points of South Korea’s martial law: comprehensive suppression of political activities and freedom of public opinion

In Announcement No. 1 issued by the Yin Xiyue government, six major martial law measures were proposed. The main contents include:

The sudden announcement shocked the entire nation of South Korea.

South Korean President Yoon Suk-yeol unexpectedly announced the implementation of martial law during a nationwide broadcast on YTN TV late Tuesday night. This move comes against the backdrop of escalating tensions between the government and the opposition parties, with Yoon Suk-yeol claiming these tensions have threatened the constitutional stability of the nation.

Reasons for declaring martial law.

Yoon Suk-yeol described this decision as a necessary measure to protect the foundations of democracy in South Korea. He stated during a live broadcast: "I announce martial law to protect the free Republic of Korea from the threats of North Korean communist forces, thoroughly eradicated those shameful pro-North anti-state forces that plunder the freedom and happiness of the people, and defend the constitutional order of freedom."

How crazy is South Korea, a big currency speculator? Local media stated that demand deposits at the country's five largest banks have dropped by nearly 27 trillion won in half a year, and cryptocurrencies, which have been rising rapidly recently, have become a place for liquidity. In addition, according to surveys, many Koreans aged between 5 and 60 are also among the ranks of currency speculators. Even as the industry seems to be maturing, the class reversal effect of cryptocurrency in the hearts of Koreans remains unabated, and everyone hopes to make a comeback through currency speculation.

Speculating in currencies has become a national movement, and the number of users aged 60 and older has increased by 30% since the end of 2021.

According to local media reports, the current deposit balance of the five major commercial banks in South Korea (KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, and NH Nonghyup Bank) at the end of November was 592.6669 billion won, which was the same as the previous month. Compared with the end of the month, there was a decrease of more than 5 trillion won. This was a decrease of KRW 26.9477 trillion compared to the end of June five months ago. Demand deposits are often regarded as idle funds, but for South Korea, a major currency speculator, cryptocurrency has become one of the main flows of these liquidity.

Last week was the Thanksgiving holiday in the United States. The market trading volume was light and the overall consolidation pattern was maintained. U.S. stocks are on the verge of making history again, with 2024 shaping up to be one of the best years in history, with returns reaching double-digit highs in five of the last six years.

2024 is on track to be one of the best years in history

Market breadth remains supportive, with the 52-week stock high-low volume spread still looking healthy, the uptrend remaining intact, the VIX trending downwards, and U.S. Treasuries falling after Trump announced that Scott Bessent will be Treasury Secretary. Markets have returned to calm, with 10-year yields down nearly 35 basis points from October highs.