Today's News Highlights:
Japanese listed company Metaplanet increases its holdings by 619.7 Bitcoins
Binance Alpha announces a new batch of projects: ZEREBRO, COOKIE, WHALES, and ORDER
Pump.fun co-founder denies Christmas airdrop rumors
Securitize proposes to add BlackRock's BUIDL token as support for the stablecoin Frax USD
Regulatory News
Discussion on Biden possibly pardoning SBF, Musk responds: I would be shocked if it doesn't happen
Musk responded on social media to a discussion about the U.S. President possibly pardoning a well-known individual (the image shows a composite of Biden and SBF), stating, "I would be shocked if this doesn't happen."
UAE's first crypto-listed company Phoenix Group plans dual listing in the U.S. next year
According to Caixin, the UAE's first local cryptocurrency company listed on the Abu Dhabi Securities Exchange (ADX), Phoenix Group, recently announced the appointment of a new CEO and plans to achieve a dual listing on NASDAQ in 2025 to further expand its international market and enhance its global influence. Founded in 2017 and headquartered in Abu Dhabi, Phoenix Group successfully listed on the Abu Dhabi Securities Exchange in October 2023, becoming the first private cryptocurrency and blockchain entity listed in the Middle East stock market. It is reported that Phoenix Group is the largest cryptocurrency mining operator in the MENA region, involved in mining, custody, trading, and investment, operating a total of 765 megawatts of mining facilities globally.
Gate Group announces acquisition of Coin Master Co., Ltd., officially entering the Japanese market
According to an announcement from the cryptocurrency trading platform Gate.io and the Japanese Financial Services Agency, Gate Group announced that its Singapore entity Gate Japan K.K. ("Gate Japan", CEO: Lin Han) has successfully acquired all issued shares of the Japanese cryptocurrency trading service provider Coin Master Co., Ltd. Coin Master Co., Ltd. will be renamed "Gate Japan Co., Ltd." starting today. Gate.io stated that from July 22, 2024, it will stop opening new accounts for users residing in Japan and gradually terminate global services for Japanese users. However, through the acquisition of Coin Master Co., Ltd., Gate Group aims to provide a dedicated digital asset trading platform service compliant with local regulations for users in Japan, further promoting localized business expansion in the Japanese market.
Japanese listed company Metaplanet increases its holdings by 619.7 Bitcoins
PANews reported on December 23 that, according to an official announcement, Japanese listed company Metaplanet announced an additional purchase of 619.70 Bitcoins for 9.5 billion yen (approximately $60.69 million), bringing its total holdings to 1,761.98 BTC.
According to CCTV News, U.S. President-elect Trump announced the nomination of Sriram Krishnan as the next senior policy advisor for AI at the White House Office of Science and Technology Policy. Trump stated in a press release that Krishnan will work closely with David Sacks to ensure the U.S. maintains its leadership in the field of artificial intelligence. Previously, in November, a16z general partner Sriram Krishnan announced he would be leaving at the end of the year.
According to Bitcoin.com, Amazon founder Jeff Bezos has drawn widespread attention for firmly denying rumors that he and his fiancée Lauren Sanchez plan to hold a $600 million wedding in Aspen, Colorado. He stated that these rumors are purely fictional. In response, several billionaires, including Tesla founder Musk, expressed their support for Bezos. Musk even jokingly wished Bezos a grand wedding in the future, while Pershing Square CEO Bill Ackman directly refuted the $600 million wedding rumor, calling it "unbelievable." However, amidst the discussions, MicroStrategy founder Michael Saylor cleverly shifted the focus, joking, "You can buy a lot of Bitcoin for $600 million." This development follows a proposal from Amazon shareholders encouraging the company to invest at least 5% of its assets in Bitcoin (BTC), aligning with a similar proposal made to Microsoft recently. Saylor's comments highlight ongoing efforts to incorporate Bitcoin into mainstream financial discussions and leverage trending events to emphasize its investment potential. While Bezos laughed off the wedding gossip, Saylor took the opportunity to spotlight Bitcoin's vast prospects as an alternative asset.
Trump appoints Bo Hines as executive director of the Presidential Digital Asset Advisory Council
According to The Block, U.S. President-elect Donald Trump announced the appointment of Bo Hines as the executive director of his "Presidential Digital Asset Advisory Council," leading its "Crypto Committee." Bo Hines, a former college football player, failed to win a congressional seat in 2022. Trump wrote, "In his new role, Bo Hines will work alongside David Sacks to drive innovation and growth in the digital asset space while ensuring industry leaders have the resources they need to succeed."
Financing
On-chain luxury watch trading market Kettle completes $4 million financing, led by ParaFi Capital
The on-chain luxury watch trading market Kettle announced the completion of $4 million in financing, led by ParaFi Capital, with strategic investors including Zee Prime Capital, Kronos, Signum Capital, IOSG Ventures, and Puzzle Ventures. The funds will be used to build the RWA platform.
Kettle is described as a peer-to-peer marketplace where users can trade based on the full financial value of luxury watches. Kettle claims that the watches on its platform are insured and stored in the Kettle Vault in New York.
Project Updates
Binance Launchpool launches the 63rd project, using BNB and FDUSD to obtain Bio Protocol (BIO)
Bio Protocol (BIO) has become the 63rd project on Binance Launchpool, officially opening for users to stake BNB and FDUSD to receive BIO airdrop rewards starting December 24 at 08:00 (Beijing time) for a duration of 10 days.
Binance plans to list BIO on January 3, 2025, at 18:00 (Beijing time) and open trading pairs BIO/USDT, BIO/BNB, BIO/FDUSD, and BIO/TRY. Seed tags will be applied to BIO.
Binance Alpha announces a new batch of projects: ZEREBRO, COOKIE, WHALES, and ORDER
According to official news, Binance Alpha has announced the fifth batch of project listings, which include MGP, ZEREBRO, COOKIE, WHALES, and ORDER. Notably, MGP was already announced in the fourth batch of Binance Alpha, and upon checking the contract address, it is clearly the same project.
Binance to launch HIVE/USDT perpetual contract
Binance's contract platform will launch the HIVE/USDT perpetual contract at 19:30 Beijing time, offering trading services with up to 75x leverage.
Lido launches Ethereum SDK to help developers integrate staking features into off-chain applications
Lido has officially released the Ethereum SDK, a TypeScript-based development toolkit designed to help developers seamlessly integrate Lido's staking features into off-chain applications, such as widgets and wallets. The SDK is production-ready, providing a range of tools, pre-built methods, and clear documentation to support quick integration of Lido staking features. The Lido Ethereum SDK is suitable for dApp developers looking to integrate staking functionality, DeFi projects needing stable staking infrastructure, and builders exploring Ethereum liquid staking solutions. Its main features include ETH staking and staking asset management, reward tracking and calculation, unstaking and asset wrapping functions, protocol statistics tracking, and multi-chain support (e.g., OP mainnet).
Binance Alpha sees varied token performance: 17 tokens' FDV rises, 12 tokens' FDV falls
According to PANews on December 23, user @sankin_eth on X platform reported that since the launch of 29 tokens on Binance Alpha, 17 tokens currently have a fully diluted valuation (FDV) that has increased compared to when Binance Alpha launched, while 12 tokens have seen their FDV decrease. Small-cap tokens generally experienced higher FDV increases. The token with the largest FDV increase is Shoggoth, which surged by 134.66%; followed by FROG and BOB, with FDV increases of 123.19% and 122.08%, respectively. GNON and TERMINUS also doubled, with FDV increases exceeding 104%. On the other hand, some tokens experienced significant FDV declines. APX had the largest FDV drop at 28.12%, while GRIFFAIN and SD saw declines of 25.41% and 21.39%, respectively.
Animoca co-founder Yat Siu plans to gift MOCA airdrop to the community as a Christmas present
Yat Siu, co-founder and executive chairman of Animoca Brands, announced on X that as a Christmas gift, he will distribute the MOCA tokens obtained through the MOCA NFT airdrop during the TGE in two phases to the community. The first phase will primarily gift to users who interacted with the MOCA community's tweets during the TGE, while the rules for the second phase are still under consideration. Previously, on July 12, Yat Siu stated that he held 88 Moca NFTs and would gift the MOCA token airdrop rewards obtained through these NFTs to the community.
Pump.fun co-founder denies Christmas airdrop rumors
In response to community rumors about Pump.fun conducting an airdrop on Christmas, co-founder Alon clearly stated "False," denying the news.
Securitize proposes to add BlackRock's BUIDL token as support for the stablecoin Frax USD
The decentralized stablecoin protocol Frax Finance is considering integrating BlackRock's BUIDL token as a reserve asset in its upcoming re-launched Frax USD stablecoin, but this decision requires governance approval. Securitize Markets has drafted a governance proposal stating that this move would not only enhance the utility, security, and convenience of Frax USD but also reduce counterparty risk in reserves. The BUIDL token currently manages over $530 million in assets, primarily in short-term U.S. Treasury bonds. Although the proposal has not yet been voted on, initial feedback from members of the Frax Finance decentralized autonomous organization (DAO) has been generally positive. Meanwhile, the core team of Frax is planning to rename its core stablecoin to Frax USD (frxUSD) according to another governance proposal and simultaneously launch Staked Frax USD (sfrxUSD) as a yield-generating counterpart. If successful in collaboration with Paxos, frxUSD will be directly redeemable for fiat currency and may benefit from efforts to gain access to the Federal Reserve System's main account. A new mint-redeem system will also accompany the launch of the stablecoin, under which, if governance allows its assets to support frxUSD, relevant entities can obtain mint-redeem rights for frxUSD. The competitive tokenized fund platform Superstate has also proposed two governance proposals suggesting that Frax adopt its USTB Treasury and USCC crypto arbitrage funds as stablecoin support. Superstate calls for Frax to allocate up to $20 million to its USCC fund and up to $100 million to the USTB fund.
Opinions
Adam, a macro analyst at Greeks.live, stated on the X platform that this Wednesday is Christmas, and major exchanges in Europe and the U.S. are entering a holiday break, with crypto funds typically showing outflows this week. Currently, ETFs are the main source of external funds for the crypto market, and the pressure from fund outflows on the crypto market is significantly higher than in previous years, leading to strong risk aversion. Regarding the outlook for the crypto market, this bull market has not yet seen significant corrections, and with tight funding during the Christmas holiday, a deleveraging event before Trump's inauguration cannot be ruled out, with heightened market risk aversion. In terms of the crypto interest rate market, nearly $12 billion in options are set to expire this week, accounting for over 40% of the current total open interest, with large holders and market makers actively adjusting their positions, providing occasional opportunities for good bargains. The expected volatility during this Christmas week is not high, with the market more focused on betting on the trends around Trump's inauguration at the end of January, making it a good opportunity to buy options.
Matrixport stated that the rebound of Ethereum and other altcoins is limited, making it difficult to form a sustained rise, while Bitcoin continues to firmly hold market dominance. Currently, the market lacks significant positive news support, leading to further declines in Ethereum's dominance. Since the launch of the Ethereum ETF in early summer 2024, despite attracting billions of dollars in inflows, it has failed to reverse the downward trend. Analysts believe that Ethereum investors may need to wait for a more favorable market environment, with expectations for a new round of upward opportunities in 2025 to help the market break free from its current sluggish state.
Santiment: Market funds return to Bitcoin, investor interest in Meme coins significantly declines
According to Santiment's analysis, the sentiment in the crypto market has rapidly shifted from bullish to bearish over the past two weeks, especially after the market cap adjustments (particularly for altcoins). Investor interest in Meme coins has significantly declined, while attention to Bitcoin has risen again.
Santiment pointed out that this market panic and pessimism is a healthy part of the cycle, providing patient traders with opportunities to capitalize on "market fear."
Sun Yuchen discusses token issuance: The key is whether it enhances business value
Sun Yuchen expressed his views on token issuance on social media, stating that issuing tokens is a financial tool and innovation, but financial tools cannot directly determine business value; they are merely amplifiers. He likened token issuance to a company's IPO, believing that if the business form and model are incorrect, financial tools cannot save the business; whereas an excellent business can demonstrate stronger value through suitable financial tools. He emphasized that the value of token issuance should be judged by business leaders, focusing on whether it enhances business efficiency, user experience, and addresses business pain points.
Important Data
20,000 ETH transferred from Binance to an unknown wallet, worth over $66.05 million
According to Whale Alert monitoring, at 16:04 Beijing time on December 23, 20,000 ETH (worth approximately $66,054,418) was transferred from Binance to an unknown wallet.
Ki Young Ju, founder and CEO of CryptoQuant, released data stating: "The total Bitcoin holdings of ETFs, various governments, and MicroStrategy now account for 31% of known Bitcoin holdings, up from 14% last year." Ki Young Ju emphasized that this is not 31% of all Bitcoin, but 31% of known Bitcoin holders.
El Salvador increased its holdings by 29 BTC in the past week, totaling 5,995 BTC
According to Lookonchain monitoring, the government of El Salvador is increasing its accumulation of BTC. In the past week, El Salvador purchased 29 BTC (worth $2.84 million), bringing its total holdings to 5,995 BTC (worth $562 million).
According to on-chain analyst @ai_9684xtpa, a whale sbfonchain.sol spent $3.63 million to buy 3.25 million FARTCOIN between December 19 and December 20, and is currently facing a loss of $1.224 million, with a position shrinkage of 34.5% (cost $1.1162, current price $0.7312).
According to on-chain analyst @ai_9684xtpa, a whale sbfonchain.sol spent $3.63 million to buy 3.25 million FARTCOIN between December 19 and December 20, and is currently facing a loss of $1.224 million, with a position shrinkage of 34.5% (cost $1.1162, current price $0.7312).
According to Spot On Chain monitoring, in the past 7 days, a suspected Sun Yuchen address redeemed 39,999 ETH ($143 million) from Lido Finance and Etherfi, and then deposited all of it into HTX. Currently, he has 42,904 ETH ($139 million) being redeemed from Lido.
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 had redeemed 9.01 million ENA and deposited $7 million worth of ENA into Binance.
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