Headlines
▌U.S. Senator Cynthia Lummis proposed allowing the Federal Reserve to hold Bitcoin
U.S. Senator Cynthia Lummis of Wyoming recently mentioned the possibility of turning Bitcoin into a reserve asset and proposed how to implement this plan, including involving the Federal Reserve.
Lummis stated that she hopes to empower the Federal Reserve to purchase and hold BTC as part of a larger strategic Bitcoin reserve plan to address the national debt issue. I want to hand it over to them. I hope our federal government has a strategic Bitcoin reserve to help support the dollar as the world's reserve currency.
▌MicroStrategy's Bitcoin purchases exceed levels from the 2021 bull market
According to the Saylortracker page, MicroStrategy purchased 27,200 BTC on November 10, 2024, at about $74,000 each. MicroStrategy then purchased 51,780 BTC on November 17, and subsequently purchased 55,500 BTC on November 24 at about $97,000 each, setting the record for the largest BTC purchase ever.
During the bull market of 2020-2021, MicroStrategy's largest acquisition was 29,646 Bitcoin purchased on December 21, 2020, when the trading price of Bitcoin was around $21,000.
Market
As of the time of writing, according to Coingecko data:
BTC's recent transaction price is $94,858.45, with a daily price fluctuation of -2.4%;
ETH's recent transaction price is $3,268.93, with a daily price fluctuation of -1.9%;
BNB's recent transaction price is $648.19, with a daily price fluctuation of -2.2%;
SOL's recent transaction price is $179.51, with a daily price fluctuation of -0.5%;
DOGE's recent transaction price is 0.3112 yuan, with a daily price fluctuation of -2.2%;
XPR's recent transaction price is $2.19, with a daily price fluctuation of -2.1%.
Policy
▌Trump: Bo Hines will become the executive director of the Presidential Digital Asset Advisory Committee
According to Tree News, Trump has appointed former college football player and Republican House nominee Bo Hines as the executive director of the Presidential Digital Asset Advisory Committee (Crypto Committee).
▌El Salvador strengthens support for Bitcoin: purchases Bitcoin in violation of the International Monetary Fund agreement
The El Salvador government has made it clear that it will continue to promote Bitcoin as part of its economic strategy, even though the country has signed an agreement with the International Monetary Fund to gradually end its Bitcoin operations.
Stacy Herbert, the director of El Salvador's Bitcoin office, clarified that even after reaching an agreement, the country will continue to purchase Bitcoin at an 'accelerated' pace as part of its strategic Bitcoin reserve strategy. Herbert also explained on social media that Bitcoin will remain legal tender, and the government will continue to sponsor several cryptocurrency-focused educational programs.
▌Pulsechain founder placed on European Criminal Police Organization's wanted list for fraud
Richard Shueler, the founder of Hex, Pulsechain, and Pulsex, has been placed on the European Criminal Police Organization's wanted list in Finland for fraud. He is accused of failing to submit corporate tax returns and provide income information. Additionally, he faces charges of assaulting a minor.
Blockchain Applications
▌Sui achieves Bitcoin re-staking through SatLayer integration
The Bitcoin re-staking platform SatLayer announced on Wednesday that it will extend the use of Bitcoin in decentralized finance to the fast Layer 1 blockchain Sui launched last year.
SatLayer stated in a declaration that, due to Sui's focus on fast transaction speeds, the integration of SatLayer will allow developers to leverage Bitcoin's $2.1 trillion market size to build DeFi applications designed to exclude third parties from transactions in areas such as trading and lending.
▌Hamster Kombat: Season 2 will build the foundation of HamsterVerse with three games, starting closed testing
Hamster Kombat announced that Season 2 will start with three games instead of one, and they will form the foundation of Hamster Verse. Hamster Verse is an entertainment ecosystem built around the characters and storylines of Hamster Kombat. All Hamster Verse games will regularly use the HMSTR token. The team is launching closed beta testing.
Cryptocurrency
▌Vancouver Mayor Ken Sim: Bitcoin has been the best-performing asset over the past 16 years
Vancouver Mayor Ken Sim: Bitcoin has been the best-performing asset over the past 16 years. It is better than gold. It cannot be taken by military force. It can make Vancouver a world leader in Bitcoin innovation.
▌Securitize proposed using BlackRock's BUIDL fund as collateral for Frax USD
The brokerage firm Securitize of the digital liquidity fund (BUIDL) has submitted a Frax improvement proposal to add BUIDL as collateral backing the Frax USD stablecoin.
According to the improvement proposal, using BUIDL as collateral reserve assets can provide yield opportunities, deeper liquidity, and transfer options, and can reduce counterparty risk due to the support of the world's largest asset management company, BlackRock.
▌Analysts: Major trading platforms in Europe and the US will go on holiday during Christmas, and a deleveraging market before Trump's inauguration cannot be ruled out.
Greeks.live analyst Adam stated on social media that this Wednesday is Christmas, and major trading platforms in Europe and the US are all closed, with crypto funds typically showing outflows this week. Currently, ETFs are the main source of external funds for the crypto market, and the pressure of fund outflows on the crypto market is significantly higher than in previous years, with strong market risk aversion.
This round of the bull market has not experienced a significant pullback, and with funds tight during the Christmas holiday, a deleveraging market before Trump's inauguration cannot be ruled out, with strong market risk aversion. The options market has nearly $12 billion in options expiring, accounting for over 40% of the current total open interest, and large traders and market makers are actively adjusting positions, paying close attention to the market can occasionally yield good bargain opportunities. The volatility expectation for this week's Christmas is not high, with the market more focused on betting on the market around Trump's inauguration at the end of January, and it remains a good opportunity to buy options recently.
▌Arthur Hayes deposited 2 million ENA into Bybit, worth $2.06 million
According to OnchainLens monitoring, 2 hours ago, Arthur Hayes deposited 2 million ENA into Bybit, worth $2.06 million, at an average price of $0.97. Previously, he redeemed 9.01 million ENA and deposited $7 million ENA into Binance.
Important Economic Dynamics
▌Keras Father: The Economics of AI is About to Change Everything
Renowned AI expert and Keras founder François Chollet posted on X, stating that there is one very important thing to understand about the future: the economics of artificial intelligence is about to change everything. We will soon enter a world where we can convert compute time for testing into capability—marginal costs will become critical for the first time in software history.
Golden Encyclopedia
▌What is the RLUSD stablecoin from Ripple Labs?
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 trading and transactions. As a stablecoin pegged to the US dollar, 1 RLUSD equals 1 dollar. Each RLUSD maintains a 1:1 peg. These collateral assets are either USD deposits or cash equivalents.
Disclaimer: Golden Finance, as a blockchain news platform, publishes articles for informational reference only and does not constitute actual investment advice. Everyone should establish a correct investment concept and must enhance risk awareness.
