Headlines
▌Texas State Representative calls for the establishment of a Bitcoin reserve
Texas State Representative Giovanni Capriglione proposed a bill in December calling for the 'Lone Star State' to establish a Bitcoin reserve. The bill's draft stipulates that Texas must hold Bitcoin for at least five years. Under the bill, the cryptocurrency must be stored in a cold wallet, meaning it must be kept on some device that is not connected to the internet, and these assets cannot be used for transactions outside of Texas.
▌Interpol is seeking Hex founder Richard Heart on charges of tax evasion of hundreds of millions of euros and assault
Interpol has issued a 'Red Notice' on behalf of Finland to its member countries, seeking Hex and PulseChain founder Richard James Schueler, commonly known among cryptocurrency investors as Richard Heart. A Red Notice is a formal alert to Interpol member countries, informing them that a valid national arrest warrant has been issued for an individual. If the wanted person is detained in another country, this notice typically triggers extradition proceedings. The European law enforcement agency, Europol's website states that in this case, Finland issued an arrest warrant for Schueler for tax evasion of 'hundreds of millions of euros' and assault on a 16-year-old girl. The website states: 'Schueler has failed to submit corporate tax returns for years and has not provided income information on pre-filled personal tax returns... with total tax evasion amounting to hundreds of millions of euros.' The website also describes the assault allegations against Schueler, stating that he allegedly assaulted a 16-year-old girl.
Market
As of press time, according to Coingecko data:
BTC's recent transaction price is $97,188.00, with a daily fluctuation of -0.1%;
ETH's recent transaction price is $3,358.39, with a daily fluctuation of -3.0%;
BNB's recent transaction price is $665.26, with a daily fluctuation of -2.6%;
SOL's recent transaction price is $182.55, with a daily fluctuation of -6.5%;
DOGE's recent transaction price is 0.319 yuan, with a daily fluctuation of -1.6%;
XPR's recent transaction price is $2.24, with a daily fluctuation of -1.4%.
Policy
▌The French Financial Markets Authority has approved HEXARQ SAS to provide trading services and cryptocurrency custody
The French Financial Markets Authority (AMF) has approved HEXARQ SAS to provide trading services and cryptocurrency custody.
▌El Salvador plans to increase Bitcoin purchases, with a mid-term goal of acquiring 20,000 BTC
El Salvador's senior Bitcoin advisor Max Keiser stated, 'President Bukele has increased the daily Bitcoin purchase amount, aiming to buy an additional 20,000 Bitcoins in the medium term.'
▌UAE Interior Ministry and FSRA collaborate to combat crimes related to virtual assets
The Ministry of Interior of the United Arab Emirates (UAE) has signed a memorandum of understanding with the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) to enhance coordination in combating crimes related to virtual assets. The agreement requires both parties to share information and strengthen risk mitigation frameworks. Reportedly, the agreement also aims to support the UAE's strategy to protect its financial system from the evolving threats in the digital asset space.
▌Insider: U.S. plans to blacklist AI company Sophgo associated with Bitmain
An insider revealed that the Biden administration plans to add the AI company Sophgo, associated with Bitmain, to the U.S. Commerce Department's restricted trade list due to the company's TSMC-manufactured chips being illegally included in Huawei's AI processors.
Blockchain Applications
▌ai16z founder: Aethir will provide free GPU computing power for Eliza agent developers
ai16z founder Shawn posted on platform X stating, 'The decentralized computing network @AethirCloud is providing free GPU computing power for Eliza agent developers. Developers with relevant needs can apply.'
Cryptocurrency
▌Bitcoin mining company Hut 8 has purchased 990 Bitcoins for approximately $100 million
Bitcoin mining company Hut 8 has purchased 990 Bitcoins (BTC) for approximately $100 million.
▌An American YouTuber discovered that the Taliban frequently trades Meme coins and has been subject to rug pulls
An American YouTuber discovered that the Taliban frequently trades Meme coins and has been subject to rug pulls.
▌In the past week, NFT trading volume reached $304 million, with Ethereum NFTs accounting for 66%
CryptoSlam data shows that NFT sales in the past week reached $304 million, with a week-on-week growth of over 35%. Among them, Ethereum NFT sales increased by 76% week-on-week, reaching $201 million, accounting for 66% of all NFT sales in the past seven days. In contrast, Bitcoin NFT sales were $40 million, and Solana NFT sales were $29 million. The weekly sales total for Mythos Chain, Immutable, Polygon, and BNB Chain was $25.9 million.
▌Report: 165 security incidents have occurred in the Web3 space so far in 2024, resulting in losses exceeding $2.3 billion
According to Cyvers' summary report on key security trends for 2024, Web3 network threats have surged sharply this year, with losses exceeding $2.3 billion and a total of 165 security incidents reported. Although the loss amount is 40% higher than in 2023 ($1.69 billion), it remains $1.42 billion lower than in 2022 ($3.78 billion). Notably, $1.3 billion in stolen funds was recovered this year. Cyvers indicated that incidents related to access control (67 incidents) accounted for 81% of the $2.3 billion in losses, while approximately 98 smart contract vulnerabilities resulted in a total loss of $456.3 million, and a single address poisoning incident caused losses of over $68 million. When analyzing losses by attack vector over the past three years, data shows that losses related to access control violations increased from $769 million in 2022 to $1.9 billion by the end of 2024. In contrast, losses related to code vulnerabilities in 2023 and 2024 were significantly lower than the approximately $3 billion loss in 2022.
Important economic dynamics
▌UBS: The outlook for U.S. stocks remains optimistic, with the S&P 500 index potentially reaching 6,600 points by the end of next year
UBS stated in a research report that against the backdrop of a strong U.S. economy, optimism in artificial intelligence, and future pro-growth policies in the U.S., the outlook for the U.S. stock market remains optimistic. We expect the S&P 500 index to reach 6,600 points by the end of 2025. Investors might consider using structured strategies to cope with volatility. We believe that gold remains an effective portfolio hedging tool amid geopolitical tensions. (Jin Shi)
▌Biden signs emergency funding bill to prevent U.S. government shutdown
According to reports from Caixin, U.S. President Biden signed an emergency funding bill to prevent the government from 'shutting down.' This latest bill will continue to provide operating funds for the U.S. government until March of next year, thereby avoiding a 'shutdown' of some federal agencies after midnight on the 21st Eastern Time.
Golden Encyclopedia
▌What is Rollup?
Rollup is a way to process transactions on Layer 2 protocols, freeing up valuable space on the underlying layer. Rollup processes transactions one by one on the second layer, sometimes folding them dozens of times, and then rolls them together before sending the data back to Layer 1. There are mainly two types of Rollup: optimistic and zero-knowledge (ZK) proofs. Optimistic Rollup is a fairly straightforward term. This means that Rollup operates on an 'optimistic' approach, assuming the transactions are valid unless proven otherwise by a validator. They only check the validity of transactions in case of disputes. ZK Rollup proves transactions without revealing any transaction data, hence the name 'zero-knowledge.' ZK Rollup provides instant finality as cryptographic proofs ensure data validity. In many ways, Rollup is to your standard blockchain transaction what Calzone is to a regular pizza slice. By rolling up, you can fit in more.
Disclaimer: Jinse Finance, as a blockchain information platform, provides articles for informational reference only and does not constitute actual investment advice. We urge everyone to establish correct investment concepts and to raise risk awareness.
