Headlines
▌Biden Orders Government Agencies to Close on January 9, 2025
On December 30, local time, US President Biden ordered all federal government departments and agencies to close on January 9, 2025, as a tribute to the late 39th President of the United States, Jimmy Carter, who passed away on the 29th. Biden stated in the statement that the heads of federal government departments and agencies can decide to keep some offices and facilities open for reasons of national security, defense, or other public needs.
▌El Salvador Has Accumulated Over 6,002 BTC in the Past 30 Days
On-chain data shows that El Salvador has accumulated 53 more BTC in the past 30 days, and currently holds over 6,002.77 BTC (about $556 million).
Market
As of the time of writing, according to Coingecko data:
BTC's latest trading price is $92,639.82, with a daily change of -0.9%;
ETH's latest trading price is $3,354.47, with a daily change of -0.0%;
BNB's latest trading price is $704.63, with a daily change of +1.6%;
SOL's latest trading price is $191.11, with a daily change of +0.7%;
Doge's latest trading price is $0.3132, with a daily change of -0.4%;
XRP's latest trading price is $2.06, with a daily change of -1.7%.
Policies
▌Analysis: MiCA Implementation Brings Uncertainty to USDT Compliance, May Impact EU Crypto Market Landscape
The EU's MiCA regulation has officially taken effect, but Tether's USDT has not yet obtained compliance certification, raising concerns about its future in the EU market. MiCA imposes strict requirements on stablecoin issuers, and Tether and other major stablecoins may face challenges in terms of capital reserves and liquidity requirements, potentially leading to their exit from the EU market. Nevertheless, Tether's large market capitalization and global adoption make it unlikely to face immediate financial shocks. Meanwhile, some EU exchanges have already taken measures to adapt to the new regulations, with Coinbase Europe delisting USDT and other stablecoins. Analysts suggest that MiCA will drive the exit of some small and large companies from the EU, promote market consolidation, and potentially lead to higher investment and operating costs.
▌Judge Postpones CFTC vs. Gemini Trial to January 21
New York District Court Judge Alvin Hellerstein has decided to postpone the civil case between the US Commodity Futures Trading Commission (CFTC) and Gemini Trust Company to January 21, 2024, from the original date of January 13. The case stems from the CFTC's 2022 allegations that Gemini provided false or misleading statements when applying for a Bitcoin futures contract in 2017. The postponed trial date will coincide with the new presidential administration, potentially impacting the CFTC's stance towards Gemini and other crypto companies. The court stated that further postponements will not be granted unless there are special circumstances.
▌Blockchain Association Sues IRS Over Digital Asset Reporting Rules
The US Internal Revenue Service (IRS) has recently issued new regulations requiring crypto platforms (including decentralized exchanges) to report digital asset transaction information, and stipulating that from 2027, platforms must disclose taxpayer information and sales revenue related to digital asset transactions. In response, the Blockchain Association and the Texas Blockchain Association have jointly sued the IRS, arguing that the rule violates the US Administrative Procedure Act and may have a negative impact on the US crypto and decentralized finance (DeFi) industry. Blockchain Association CEO Kristin Smith stated that the lawsuit aims to protect the future of the US crypto industry and support the interests of innovators.
▌MoonPay Receives License from Dutch Financial Market Authority Under EU MiCA
In a notice on December 30, MoonPay stated that the Dutch Financial Market Authority has issued a license to the crypto company under the EU's Crypto Asset Markets (MiCA) regulation, allowing it to operate as a licensed crypto business in the Netherlands.
Blockchain Applications
▌Musk: Community Notes is Fully Decentralized and Open-Source
Musk stated on X that the best way to ensure the accuracy of the Community Notes system is to become a contributor. He emphasized that the system is fully decentralized and open-source, including the code and data, and any manipulation will be easily detected. Musk further noted that X and its team, including himself, cannot edit or control the system. The system operates in a way that previously dissenting parties must reach consensus before a note can be displayed.
Cryptocurrencies
▌ZachXBT: Blockchain Bandit Moves 51,000 ETH, Worth About $172 Million, After 2 Years of Dormancy
The hacker known as Blockchain Bandit, who primarily stole 51,000 Ether by successfully guessing weak private keys, has moved all 51,000 Ether from 10 wallet addresses to a multi-signature address "0xC451D542" after nearly two years of dormancy, according to blockchain investigator ZachXBT's Telegram post on December 30. The funds were transferred in batches of 5,000 Ether between 8:54 pm UTC and 9:18 pm UTC on the same day.
Prior to this, the stolen funds had remained dormant in these 10 wallet addresses since January 21, 2023. Around the same time, the hacker also moved 470 Bitcoins.
▌GBTC Saw $134.5 Million Net Outflow, ETHE Saw $17.4 Million Net Outflow Yesterday
According to data monitored by Farside Investors, the capital flows of US spot Bitcoin ETFs and spot Ethereum ETFs on December 30 were as follows:
Spot Bitcoin ETFs: GBTC saw a net outflow of $134.5 million, BTC saw a net outflow of $31.7 million, BITB saw a net outflow of $31.4 million;
Spot Ethereum ETFs: ETHE saw a net outflow of $17.4 million, ETH saw a net outflow of $13.8 million.
▌CZ: We Don't Predict Trends, We Follow Trends and Strive to Contribute
Binance founder CZ posted on X platform, stating, "People often ask me, what's the next hot thing in crypto? To be honest, I don't know. I try to help as many projects as possible and see where they take us. We don't predict trends, we follow trends (and strive to contribute)."
▌BlackRock's Bitcoin ETF Hailed as "The Greatest ETF Launch of All Time"
According to Bloomberg, BlackRock's spot Bitcoin ETF IBIT has been dubbed "the greatest ETF launch of all time." The product has quickly become one of BlackRock's largest funds since its launch in January 2024. IBIT's success not only drove Bitcoin prices above $100,000, but also fueled investment fervor in the crypto space. In less than a year, IBIT's growth has outpaced any of the 1,400 ETFs globally. Analysts suggest IBIT's success trajectory is unprecedented and expect it to be difficult for similar products to compete.
Key Economic Dynamics
▌88.8% Probability of Fed Keeping Rates Unchanged in January 2024
According to the CME "Fed Watch", the probability of the Federal Reserve keeping rates unchanged in January 2024 is 88.8%, and the probability of a 25-basis-point rate cut is 11.2%. By March 2024, the probability of maintaining the current rate is 46.2%, the probability of a cumulative 25-basis-point rate cut is 48.4%, and the probability of a cumulative 50-basis-point rate cut is 5.4%.
▌US Dollar Index Rose 0.13% on December 30
The US Dollar Index, which measures the dollar against six major currencies, rose 0.13% on the day, closing at 108.132 in the late market. At the close of the New York foreign exchange market, 1 euro was exchanged for $1.0397, lower than the previous trading day's $1.0428; 1 British pound was exchanged for $1.2544, lower than the previous trading day's $1.2582. 1 US dollar was exchanged for 157.09 Japanese yen, lower than the previous trading day's 157.94 Japanese yen; 1 US dollar was exchanged for 0.9040 Swiss franc, higher than the previous trading day's 0.9018 Swiss franc; 1 US dollar was exchanged for 1.4359 Canadian dollar, lower than the previous trading day's 1.4411 Canadian dollar; 1 US dollar was exchanged for 11.0249 Swedish krona, higher than the previous trading day's 11.0011 Swedish krona.
▌Offshore renminbi (CNH) against the US dollar fell 151 points from the New York close last Friday
Offshore renminbi (CNH) against the US dollar was reported at 7.3152 at 05:59 Beijing time, down 151 points from the New York close last Friday, and traded in the range of 7.2978-7.3195 during the day.
Jinse Finance
▌What is Ripple Labs' RLUSD stablecoin?
RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, is intended to provide a stable digital currency for trading and transactions. As a stablecoin pegged to the US dollar, 1 RLUSD is equivalent to 1 US dollar. Each RLUSD is maintained at a 1:1 peg. These collateral assets are either US dollar deposits or cash equivalents.
Disclaimer: Jinse Finance, as a blockchain information platform, the articles published are for information reference only and not as actual investment advice. Please everyone establish the correct investment concept and must improve risk awareness.
