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According to Odaily, PeckShield reported on the X platform that a fraudulent 'Squid Game' token has been detected on the Base chain. The deployer of this token is identified as the largest holder. The token's value has already dropped by 99%.

According to Foresight News, data from SoSoValue indicates that on December 27, Ethereum spot ETFs experienced a total net inflow of $47.77 million. The Fidelity ETF FETH led with a single-day net inflow of $27.54 million, bringing its historical total net inflow to $1.565 billion. Following closely, BlackRock's ETF ETHA recorded a net inflow of $20.22 million, with its historical total reaching $3.525 billion. As of the latest report, the total net asset value of Ethereum spot ETFs stands at $12.108 billion, with an ETF net asset ratio of 3.01% compared to Ethereum's total market capitalization. The cumulative historical net inflow has reached $2.677 billion.

According to PANews, the U.S. Treasury Department and the Internal Revenue Service (IRS) have finalized and published comprehensive regulations for crypto tax brokers, spanning 177 pages. These rules, which are set to take effect 60 days after publication in the Federal Register, include a transition period from 2025 to 2026, although the extent of leniency during this period remains unclear. Former President Trump could potentially repeal these regulations, but congressional support would be necessary. The regulations require brokers to report detailed information on crypto asset transactions, aiming to enhance tax compliance and reduce the tax gap from unreported income through third-party reporting. The rules define the scope of cryptocurrency brokers and outline how to handle information on digital asset sales and trades. Individuals or organizations facilitating digital asset transfers, including decentralized finance (DeFi) participants, are considered brokers under these regulations. Key aspects of the new regulations include: 1. Brokers must submit information reports to the IRS, such as Form 1099-B, detailing total transaction revenue and other specifics. This includes: - Total revenue from digital asset transactions. - Information about the parties involved in the transactions, such as identity and address. - Transfer price and basis cost for each transaction. 2. The regulations clarify the definition of "digital asset intermediaries" for DeFi protocols and specify the types of services that require reporting. Non-custodial wallet providers involved in the transaction process and possessing transaction information may be classified as brokers. 3. Exceptions to the broker requirements include: - Validators who only verify transactions. - Providers of hardware or software for managing digital asset private keys. - Participants not directly involved in facilitating transactions or lacking transaction details. The regulations will become effective 60 days after their publication in the Federal Register. They also clarify the three-layer model of the DeFi technology stack: interface layer, application layer, and settlement layer, imposing information reporting requirements on "front-end services" that provide user interfaces or transaction entry points.

According to Odaily, Tether CEO Paolo Ardoino recently addressed criticism on the social media platform X, where he noted the presence of numerous voices attempting to undermine Tether by spreading 'FUD'—fear, uncertainty, and doubt. Ardoino suggested that examining the profiles of these critics reveals their strategies, describing the situation as a poorly coordinated effort driven by competitors. He emphasized that such attempts have not been effective in the past and are unlikely to succeed now.

According to PANews, the total supply of stablecoins has surpassed $200 billion, marking a historic peak. Data from Artemis Terminal indicates that USDT leads with a supply of $142.9 billion, followed by USDC at $42.3 billion. Other notable stablecoins include USDe with $6.08 billion, DAI at $4.5 billion, FDUSD at $1.9 billion, and USDS at $1.2 billion.

According to Cointelegraph, the recent ruling by the United States Internal Revenue Service (IRS) has sparked skepticism among crypto executives and legal professionals. The ruling mandates that decentralized exchanges adhere to the same reporting requirements as traditional brokers. Katherine Minarik, chief legal officer of decentralized crypto exchange Uniswap, expressed doubts about the ruling's longevity, suggesting there are numerous ways to challenge it. She emphasized the need for a limiting principle in the regulation of technology beyond the crypto industry. Uniswap CEO Hayden Adams also voiced his concerns, hoping the ruling would be overturned under the Congressional Review Act. He remains optimistic that it will not withstand legal challenges. The IRS's final regulations, issued on December 27, require brokers to report digital asset transactions, extending existing requirements to include decentralized exchanges. These rules, set to be implemented in 2027, demand brokers disclose gross proceeds from cryptocurrency sales and provide information about the taxpayers involved. The regulation specifies that only trading front-end service providers in the DeFi space are treated as brokers. Robin Singh, CEO of crypto tax platform Koinly, highlighted the potential costs of implementing the necessary reporting systems. He noted that compliance would require significant operational and technical innovation, as decentralized platforms inherently lack the centralized structures needed for traditional reporting. This presents a substantial challenge for many companies operating in the DeFi space. Bill Hughes, a lawyer at blockchain development firm Consensys, criticized the ruling as "all cost, no benefit" from a revenue perspective. He remarked that the outgoing administration is not leaving quietly, indicating ongoing resistance to the ruling. Hughes pointed out that the regulation would require front-end platforms to track and report transactions involving both US and global users, covering all digital assets, including NFTs and stablecoins. He echoed Adams' sentiment, suggesting the rule is likely to face Congressional review, where it could be disapproved. Hughes also noted the timing of the ruling's release, implying it was strategically issued during a holiday period.

According to BlockBeats, Farside Investors reported a net inflow of $20.2 million into BlackRock's ETHA on December 27.

According to Odaily, Anthony Pompliano, founder and CEO of Professional Capital Management, discussed the evolving status of digital assets in an interview with Fox News. He highlighted that cryptocurrencies are increasingly being integrated into the traditional financial sector. By 2025, cryptocurrencies are expected to have matured significantly, becoming a part of the conventional financial system, which presents both advantages and challenges. Currently, cryptocurrencies have secured a position in financial discussions and are even influencing political arenas through donations and impact. This development is anticipated to significantly boost Bitcoin and other cryptocurrencies by 2025.

According to Odaily, the U.S. Department of Government Efficiency (D.O.G.E.), led by Elon Musk, has initiated a recruitment drive. The department is seeking to fill a limited number of full-time, paid positions in human resources, IT, and finance.

According to PANews, official data reveals that Circle issued approximately $3.4 billion USDC and redeemed around $2.3 billion USDC over the seven days ending December 26. This resulted in a net increase of about 1.1 billion USDC in circulation. The total circulation of USDC now stands at 42.4 billion, with reserves amounting to approximately $43.7 billion. Of these reserves, around $6.1 billion is held in cash, while the Circle Reserve Fund holds approximately $37.6 billion.

According to Odaily, Nate Geraci, President of The ETF Store, shared a comparison of asset management sizes between gold and Bitcoin ETFs on the X platform. The disclosed data reveals that Bitcoin ETFs have nearly matched the asset size of gold ETFs within just one year. Gold ETFs were introduced in 2004, while Bitcoin ETFs made their debut in 2024.

According to Odaily, institutional investments in Bitcoin involve significant entities such as hedge funds, corporations, and pension funds. These entities strategically enter the market with substantial capital, either by investing directly through exchanges or indirectly via Bitcoin-focused funds and ETFs. This approach simplifies the investment process by eliminating the need to manage storage or security concerns. Custodial services also offer secure and compliant Bitcoin asset management. The increasing involvement of institutions underscores Bitcoin's growing legitimacy and its potential as a long-term investment asset.

According to PANews, Nate Geraci, President of The ETF Store, announced via Twitter that ProShares has filed for the launch of Bitcoin-hedged ETFs. These ETFs are based on the S&P 500 Index, Nasdaq 100 Index, and gold.

According to Odaily, Farside Investors reported notable movements in Fidelity's cryptocurrency funds. Yesterday, the Fidelity Bitcoin Trust (FBTC) experienced a net outflow of $208 million, while the Fidelity Ethereum Trust (FETH) saw a net inflow of $27.5 million. These shifts highlight the dynamic nature of investor sentiment in the cryptocurrency market.

According to Odaily, the president of The ETF Store revealed on the X platform that five institutions have applied for cryptocurrency ETFs in the past 48 hours. The applications include the Strive BTC Bond ETF, Bitwise BTC Standard Corporations ETF, REX BTC Corporate Treasury Convertible Bond ETF, VolatilityShares Sol futures ETFs with 1x, 2x, and -1x exposure, and ProShares BTC hedged ETFs on the S&P 500, Nasdaq-100, and gold.

According to BlockBeats, recent monitoring by Farside Investors revealed notable fund movements on December 28. ARK's ARKB experienced a net outflow of $112 million, while Bitwise's BITB saw a net outflow of $36 million. In contrast, Grayscale's GBTC recorded a net inflow of $3.7 million.

According to Odaily, Etherscan data reveals that approximately seven hours ago, 188,990,000 USDT was transferred from Cumberland to an unknown address beginning with 0xc712.

According to Odaily, Nate Geraci, President of The ETF Store, announced on the X platform that VolatilityShares has submitted an application to U.S. regulators to launch exchange-traded funds (ETFs) based on Solana futures. The proposed ETFs will offer 1x, 2x, and -1x leverage exposure.

According to Odaily, U.S. Treasury Secretary Janet Yellen has sent a letter to congressional leaders urging them to take action to safeguard the government's creditworthiness amid concerns over the debt ceiling. Yellen anticipates implementing extraordinary measures between January 14 and 23, as the Treasury Department may reach the new debt limit during this period.

On Dec 27, 2024, 23:42 PM(UTC). According to Binance Market Data, BNB has crossed the 690 USDT benchmark and is now trading at 690.299988 USDT, with a narrowed 0.33% increase in 24 hours.