1. El Salvador plans to increase its holdings by 20,000 bitcoins, with the president's senior bitcoin advisor indicating that daily purchases have intensified.
2. The US spot Bitcoin ETF purchased 4,349.7 BTC this week, despite a price drop, showing continued investor interest.
Despite the drop in Bitcoin prices this week, the US spot Bitcoin ETF still purchased 4,349.7 BTC, worth approximately $423.6 million, while the mining output during the same period was 2,250 BTC. -Original
3. The Federal Reserve is expected to cut interest rates by about 40 basis points by December 2025, with market adjustments to Fed policy expectations causing market volatility.
4. Jump Trading fined $123 million by the SEC due to the TerraUSD scandal, indicating increased regulatory scrutiny.
The US Securities and Exchange Commission (SEC) stated that Jump Trading's subsidiary Tai Mo Shan Ltd. will pay $123 million to settle allegations of misleading investors during the TerraUSD collapse by propping up the coin. The company, related to Jump's cryptocurrency division, made significant purchases during the TerraUSD collapse to support the failed stablecoin's $1 peg, deceiving the market. The SEC accused Tai Mo Shan of negligence, noting that it conducted $20 million worth of trades that created a false impression of TerraUSD's stability. The regulator also highlighted the company's role in underwriting TerraUSD's sister token, Luna, claiming it was involved in an unregistered securities offering. -Original
5. The US Ethereum spot ETF saw a net inflow of $62.7 million this week, indicating strong market demand for Ethereum.
This week, the US Ethereum spot ETF recorded a cumulative net inflow of $62.7 million. -Original
6. Bitcoinist analysis points out that Bitcoin's recent pullback is highly correlated with Coinbase's sell-off activities, leading to a cautious market sentiment.
Bitcoin experienced a significant pullback, dropping 15% from its historical high of $108,300. This price drop marks a sharp shift in market sentiment, which has quickly turned from extremely bullish to uncertain and cautious. As altcoins suffered heavy losses, Bitcoin's pullback raised concerns about the sustainability of the recent rally. Top analyst Maartunn recently emphasized that this adjustment coincides with the most severe sell-off activity from Coinbase since October 26, when BTC was trading at $66,000. The increased selling pressure clearly indicates a market shift from bullish to one filled with fear and hesitation. The combination of reduced buying activity and increased selling pressure suggests that the market is struggling to maintain upward momentum. Additionally, Bitcoin is currently testing the $92,000 level for support. -Original
7. MicroStrategy's board welcomes former Acting Comptroller of the Currency Brian Brooks, showing continued institutional interest in the crypto market.
FOX reporter Eleanor Terrett posted on social media that former Acting Comptroller of the Currency Brian Brooks has joined the MicroStrategy board. Brian Brooks also previously served as CEO of Binance US. -Original
8. Ethereum founder Vitalik Buterin calls for a focus on building intelligent enhancement tools rather than superintelligent life.
Ethereum founder Vitalik Buterin stated on social media, "My definition of AGI (Artificial General Intelligence) is: AGI is a sufficiently powerful AI that, if one day all humans suddenly disappear and the AI is uploaded into a robotic body, it will be able to independently continue civilization. Clearly, this is a very difficult definition to measure, but I think it captures the core of the intuitive distinction between 'the AI we are used to' and 'AGI' in many people's minds. It marks a shift from a tool that constantly relies on human input to a self-sufficient form of life. ASI (Artificial Superintelligence) is a completely different matter—my definition is when humans no longer add value to productivity in the loop (as we have only reached this point in board games in the past decade). Yes, ASI scares me—even the AGI I define scares me because it brings obvious risks of losing control. I support focusing our work on building intelligent enhancement tools for humans rather than creating superintelligent life forms." -Original
9. The Hong Kong Stock Exchange will launch Asia's first virtual asset spot ETFs in 2024, further boosting market liquidity.
The Hong Kong Stock Exchange released a review for 2024, stating that the market for exchange-traded products (ETPs, including ETFs and leveraged and inverse products) related to virtual assets is growing rapidly. As of the end of November, the average daily trading volume reached HKD 18.7 billion, an increase of about 34% compared to the same period in 2023. During the year, Hong Kong's first covered call option ETFs and Asia's first virtual asset spot ETFs were listed on the Hong Kong Stock Exchange, further enriching the diversity of ETP market products and enhancing market liquidity, leading to the listing of 36 new ETFs. Additionally, the Hong Kong Stock Exchange announced plans to digitize and automate the physical subscription and redemption mechanism for ETPs to improve market efficiency and promote continued growth in secondary market activities. Furthermore, the Hong Kong Stock Exchange launched a virtual asset index series to provide reliable benchmark prices for this rapidly emerging asset class, supporting Hong Kong's development as a leading digital asset center. -Original
10. Floki token recognized by the CFTC as a "utility token," strengthening its market position.
11. The cryptocurrency market is highly attentive to the potential "God Candle" movement in Bitcoin on Trump's inauguration day.
In recent days, the cryptocurrency market has been as unpredictable as a US government shutdown, with reports suggesting that the US government is about to close due to stalled spending negotiations, which historically affects the market in various ways. Due to the disillusionment of market participants' short-term expectations, Arthur Hayes believes the cryptocurrency market will experience a "dismal drop" around Trump's inauguration day. However, the crypto community is holding its breath, as Trump's inauguration may trigger a legendary "God Candle" movement (note: "God Candle" refers to a significant price increase within a day that overshadows surrounding activity on the price chart), suggesting that the current market lull is merely a temporary calm, a bear market phase within a larger bull market cycle. If the US resolves the 2025 budget issue and Trump implements several Bitcoin-focused strategies to encourage the market, Bitcoin could see a massive recovery. Of course, the immediate price trend of Bitcoin remains uncertain. Whether Trump's presidency will usher in the anticipated crypto market boom is still uncertain. -Original
12. A Shenzhen court dismissed an employee's claim for virtual currency wages, emphasizing that Tether is not legal tender.
According to the Shenzhen Political and Legal Affairs WeChat account, an employee in Shenzhen was laid off after the probation period, with the company paying 20,000 yuan in wages and 10,000 yuan in compensation. However, the employee claimed there was still 25,000 yuan in virtual currency wages unpaid and took the matter to court. The court found insufficient evidence and ruled that Tether is not legal tender, ordering the company to pay a compensation difference of 10,000 yuan and dismissing the claim for virtual currency wages. The appeal was rejected in the second instance, upholding the original ruling. -Original
13. Glassnode data shows that the pullback in Bitcoin's bull market is decreasing, reflecting rising ETF demand and institutional interest.
Glassnode stated, "As the crypto market grows, the pullback in Bitcoin's upward trend during the bull market is gradually decreasing. The deepest pullback in this cycle was -32% (on August 5, 2024), while most pullbacks were around 25% from previous highs, reflecting increased demand for spot ETFs and rising institutional interest." -Original
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