Organized by: Fairy, ChainCatcher
Important News:
- Microsoft shareholders vote against Bitcoin investment proposal
- Ripple CEO: Stablecoin RLUSD has been approved by the New York Department of Financial Services
- OKX launches SOL liquid staking token OKSOL
- MicroStrategy expected to officially join the Nasdaq 100 index on December 23
- Microsoft CFO: Microsoft has accepted cryptocurrency as customer payment and has been considering the development of cryptocurrency
- Beam Foundation announces plans to launch Beam Ventures in Abu Dhabi, with a scale of $150 million
"What important events have occurred in the past 24 hours"
Beam Foundation announces plans to launch Beam Ventures in Abu Dhabi, with a scale of $150 million
The Beam Foundation announced plans to launch Beam Ventures in Abu Dhabi. This is the first venture capital fund in the Abu Dhabi International Financial Center focused on the gaming sector, with a scale of $150 million.
Beam Ventures is strategically positioned at the intersection of blockchain, gaming, and artificial intelligence. Beam Ventures is committed to promoting innovation in these fields, aiming to redefine gaming experiences and drive industry growth.
Sinopec: Beware of scams selling fuel cards at low prices using virtual currency, do not be deceived
According to a report from Sinopec's official account, Mr. Qiu, a truck driver from Suzhou, Jiangsu, saw an advertisement on a short video platform selling fuel cards at a low price: "A fuel card worth 1000 yuan is only 880 yuan." The seller insisted that the transaction must be made using the virtual currency USDT (Tether), and after transferring USDT to the "trading platform" as instructed, it was transferred to the seller's digital account. After the first transaction was successful, Mr. Qiu thought he had found a bargain. He then transferred a total of over 70,000 yuan in digital currency to the seller multiple times, but when he tried to continue purchasing, he found that his digital currency had disappeared, and he had been blocked on WeChat.
Sinopec warns against purchasing fuel cards from unofficial channels for cheap, and to be cautious of discount fuel card offers, reminding consumers not to be deceived.
Zhao Changpeng talks about "buy low and sell high": does not recommend this method, only succeeded once in buying Bitcoin during the 2014 bear market
Zhao Changpeng commented on Lady of Crypto's view about "making a lot of money by buying at lows and selling at highs during a bull market," stating that his own experience was buying Bitcoin at the start of a long bear market (2014), but due to not having extra fiat currency to buy at lows and the prolonged bear market, there were no profits to be made, yet he ultimately succeeded and does not recommend this method. Zhao stated, "In other words, I only made one purchase."
Microsoft CFO: Microsoft has accepted cryptocurrency as customer payment and has been considering the development of cryptocurrency
Microsoft shareholders voted against the Bitcoin investment proposal, however, Microsoft CFO Amy Hood stated during Tuesday's shareholder meeting that Microsoft has accepted cryptocurrency as customer payment since 2014, adding, "We have been thinking about the development of cryptocurrency." So far this year, Microsoft's stock has risen about 19%, significantly underperforming MicroStrategy.
Previously, voting results showed that Microsoft's major shareholders opposed the company's Bitcoin investment proposal.
OKX to launch SOL liquid staking token OKSOL
According to the official announcement, OKX will launch the SOL liquid staking token OKSOL on December 11, 2024, and will open OKSOL/SOL and OKSOL/USDT spot trading pairs, supporting OKSOL as a collateral asset.
It is reported that OKSOL is a liquid staking certificate for Solana developed by OKX, representing the SOL staked by users on the platform. By staking SOL, users receive OKSOL at a 1:1 ratio. Holding OKSOL allows users to enjoy native staking rewards and MEV rewards while maintaining asset liquidity. OKSOL can be used for collateral or trading, while the on-chain SOL remains staked. This provides a flexible solution for users who wish to participate in staking without losing liquidity.
Bridgewater founder: advises investors to stay away from bonds and other debt assets, turn to gold and Bitcoin as "hard currencies"
According to the South China Morning Post, Ray Dalio, founder of the world's largest hedge fund Bridgewater, stated at a financial conference in Abu Dhabi that he advises investors to stay away from bonds and other debt assets, and to turn to gold and Bitcoin as "hard currencies."
Dalio pointed out that the debt levels of major economies, except for Germany, have reached "unprecedented" levels, and a debt crisis is inevitable in the coming years, which will lead to a significant devaluation of currency value. He emphasized that debt, currency, and the economy are among the five key forces affecting future development, along with domestic political order and geopolitical landscape.
MicroStrategy expected to officially join the Nasdaq 100 index on December 23
According to Crypto Briefing, MicroStrategy is expected to officially join the Nasdaq 100 index on December 23, with an official announcement expected on December 13.
Bloomberg ETF analyst James Seyffart expects that ETFs tracking the Nasdaq 100 index will purchase about $2.1 billion worth of MicroStrategy stock, accounting for about 20% of the company's daily trading volume. The company is expected to become the 40th largest component of the index, with a weight of 0.47%.
Bitcoin mining company BTC Digital announces completion of $20 million financing
According to a press release, publicly listed Bitcoin mining company BTC Digital (NASDAQ: BTCT) announced that its underwritten public offering has successfully raised $20 million. The funds will be used for infrastructure and energy expansion, computing power expansion, and research and development of innovative mining machines.
The company plans to build and expand multiple mining sites in North America, focusing on improving the efficiency of existing facilities. By utilizing green energy, it aims to reduce carbon emissions. The company expects its self-mining business to reach a scale of 20 megawatts by mid-2025, providing stable support for self-mining and hosting services.
Shareholder rights organization FEP: sought a private one-hour meeting between Microsoft CEO and Michael Saylor but was refused
According to Bloomberg, MicroStrategy co-founder Michael Saylor proposed a plan to include Bitcoin on the balance sheet at Microsoft's virtual shareholder meeting, but it was voted down by shareholders. The proposal requested the board to assess whether including Bitcoin on the balance sheet aligns with the long-term interests of shareholders. Saylor spoke on behalf of the shareholder rights organization FEP (Free Enterprise Project), predicting that Bitcoin's market value will grow from $2 trillion to over $200 trillion in 21 years, emphasizing that Bitcoin has outperformed Microsoft's stock price by 10 times.
Notably, FEP Deputy Director Ethan Peck revealed that if Microsoft CEO Nadella agreed to a one-hour private meeting with Saylor, FEP would be willing to withdraw the proposal, but it was refused. Cornell University trade policy professor Eswar Prasad stated that considering the positive outlook for the cryptocurrency industry under the Trump administration, it is reasonable for the company to invest a small portion of its reserves in cryptocurrency. Currently, FEP has submitted a similar proposal to Amazon and may expand to other companies in the future.
Microsoft shareholders vote against Bitcoin investment proposal
According to voting results, Microsoft's major shareholders voted against the company's Bitcoin investment proposal on Tuesday.
Earlier, Microsoft's board had urged shareholders to reject a suggestion from the National Center for Public Policy Research, which recommended that the company invest 1% of its total assets in Bitcoin to hedge against inflation.
At the annual meeting, MicroStrategy founder Michael Saylor gave a three-minute speech attempting to persuade Microsoft shareholders to support the proposal. Data shows that Microsoft's largest shareholders are institutional investors, including Vanguard and BlackRock.
Ripple CEO: Stablecoin RLUSD has been approved by the New York Department of Financial Services
Ripple CEO Brad Garlinghouse announced on the X platform that the stablecoin RLUSD has been approved by the New York Department of Financial Services (NYDFS), and a list of exchanges and partners will be launched soon.
"What are some great articles worth reading in the past 24 hours"
Microsoft shareholders reject Bitcoin, is the "crypto booster" sustainable?
As the U.S. makes significant progress in the compliance of Bitcoin investments, more and more companies are beginning to show interest in crypto assets. With the successful experience of MicroStrategy, the National Center for Public Policy Research (NCPPR) officially suggested that Microsoft invest 1% of its profits in Bitcoin to hedge against inflation.
On December 10, Microsoft's major shareholders voted against including Bitcoin on the company's balance sheet. Market sentiment was somewhat impacted as a result, with Bitcoin trading at $97,304 at the time of writing, a pullback from recent highs. Is the "crypto booster" favored by all U.S. stock investors? And why did shareholders reject a strategic investment in this emerging asset?
Spot auction prices hit new highs, could Hyperliquid become a new choice for listings?
Listing fees have always been a focal point of market controversy, especially as hefty listing fees are often seen as a significant barrier to market innovation. Consequently, more and more emerging projects are choosing decentralized exchanges (DEX) as their launchpad, but at the same time, the risk of rug pulls has significantly increased.
Recently, the derivatives DEX Hyperliquid, after successfully executing a textbook-style airdrop, not only showed impressive performance across multiple metrics but also set a new high for its spot listing auction prices, further enhancing the platform's market advantage. Under strong data, according to PANews, many projects have already turned their listing focus to Hyperliquid.
Bitwise's Top 10 Cryptocurrency Predictions for 2025
The year 2024 is set to be a milestone year for the cryptocurrency market. Bitcoin soared to a historic high of $103,992 (as of the time of writing, up 141.72% year-to-date), primarily due to the record issuance of the U.S. spot Bitcoin ETF, which attracted $33.56 billion in assets. Other major crypto assets also saw significant gains: Solana rose 127.71%, XRP increased by 285.23%, and Ethereum climbed 75.77%. Meanwhile, cryptocurrency-related stocks like MicroStrategy and Coinbase surged by 525.39% and 97.57%, respectively.
Record prices are not the only noteworthy development. Cryptocurrencies are clearly gaining an advantage in the 2024 U.S. elections, which brightens the regulatory outlook for cryptocurrencies in the U.S. Elected President Trump supports cryptocurrencies during his campaign, promising to establish a Bitcoin strategic reserve and restructure the SEC (which has historically been hostile towards cryptocurrencies). He also nominated Scott Bessent as Treasury Secretary, who has stated, "Cryptocurrency represents freedom, and the crypto economy will exist long-term." As we enter 2024, Congress also appears to lean towards supporting cryptocurrencies, with pro-crypto candidates defeating opponents in several key elections. Legislative support for cryptocurrencies is expected in the coming months.
With global stimulus policies from China and other major central banks, increasing institutional adoption, and rapid advancements in blockchain technology, the outlook for 2025 looks quite bright.
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