Texas House of Representatives proposes bill to establish a strategic Bitcoin reserve
According to CNBC, on Thursday, the Texas House of Representatives introduced legislation to establish a strategic Bitcoin reserve that could serve as a testing ground for the U.S. Treasury Department. Republican Representative Giovanni Capriglione announced the bill on Thursday at an X Spaces event, which proposes to allow the state to establish a strategic Bitcoin reserve by accepting Bitcoin as payment for taxes, fees, and donations, and holding it for at least five years. The non-profit Bitcoin advocacy group Satoshi Action Fund, which collaborated with Capriglione to draft the bill, said the Texas bill aims to provide a way to strengthen the state's fiscal stability and make it a leader in Bitcoin innovation. Capriglione said, "Inflation may be our biggest enemy of investment, and establishing a strategic Bitcoin reserve, investing in Bitcoin, would be a win-win for the country."
Ukraine plans to legalize Altcoins by early 2025, but will not provide tax incentives
According to Danylo Hetmantsev, the head of the Ukrainian Tax Committee, Ukraine is expected to pass relevant legislation and officially legalize Altcoins in the first quarter of 2025. However, Altcoins will be taxed under the securities model, with taxes levied on profits from converting assets to fiat currency, and no tax incentives will be provided. Hetmantsev stated that this decision was made in consultation with European experts and the International Monetary Fund (IMF) to prevent the use of Altcoins to evade traditional market taxes.
Crypto-friendly Congressman French Hill wins chairmanship of U.S. House Financial Services Committee
According to The Block, crypto supporter and U.S. Representative from Arkansas, French Hill, has defeated three other contenders to win the chairmanship of the House Financial Services Committee. It is reported that French Hill had stated in a July Unchained podcast that stablecoin and market structure legislation would be two of the bills he most wants to pass as chairman.
Trump: Will do great things in the field of Altcoins
Former U.S. President Donald Trump recently stated at the New York Stock Exchange bell ringing ceremony that he may veto any budget or appropriations bill that does not align with the goals of the newly established "Department of Government Efficiency." Additionally, he plans to lower the corporate tax rate to 15% to drive economic growth and attract more business investment. Furthermore, he stated: "Will do great things in the field of Altcoins." His administration plans to undertake major initiatives in Altcoins and artificial intelligence, and mentioned that the development of these areas will require more power support. He also emphasized the key role of the stock market in the economy, stating "The stock market is everything to me, and it's very important."
Previously, it was reported that Trump was named Time's Person of the Year 2024 and appeared on the magazine's cover.
Musk: SEC is just an institution weaponized to carry out political dirty work
Elon Musk recently tweeted in response, "The SEC is just another agency that has been weaponized to do political dirty work." Previously, Mike Lee criticized the SEC as an "untrustworthy 'independent commission.'"
Google releases new artificial intelligence model Gemini 2.0
According to the Google official blog, Google has released the new artificial intelligence model Gemini 2.0. Gemini 2.0 supports multimodal inputs including text, images, videos, and audio, and has native image generation and multilingual text-to-speech (TTS) capabilities. Compared to Gemini 1.5 Pro, the model speed has doubled, and the capabilities for multimodal reasoning, complex instruction execution, and tool usage have been optimized, supporting Google search, code execution, and third-party functions. The experimental version Gemini 2.0 Flash has been made available to developers, and the full multimodal functionality will be rolled out in January 2025, along with the launch of a multimodal real-time API to provide more application support for developers.
OpenSea's official X profile picture has been changed to the Pudgy Penguins penguin image
According to the official OpenSea X account, the NFT marketplace OpenSea has changed its profile picture to the Pudgy Penguins image.
Alipay denies supporting direct purchase of Altcoins
Regarding the rumors about "Alipay supporting coin buying," Alipay (the official Alipay account) clarified on social media that "seeing a banana ad on platform X does not mean you can buy bananas on X," thus denying the related rumors. Previously, Justin Sun and some social media users mentioned that Alipay's homepage had content related to Altcoins. The actual situation is that the recommendation involved an investment fund (Huabao Overseas Technology C) whose investment targets include Coinbase stock and Bitcoin ETFs, rather than direct purchase of Altcoins. Alipay emphasized that its services do not support direct purchase of digital assets.
MicroStrategy's Bitcoin strategy sparks imitation, with 144 companies now holding Bitcoin
According to DL News, MicroStrategy has cumulatively held 423,600 Bitcoins, worth about $42 billion, accounting for 2% of the total Bitcoin supply, through convertible bonds and stock financing. This strategy has caused its stock price to increase 30-fold since August 2020, attracting other companies to imitate it. BitcoinTreasuries data shows that about 144 companies now hold Bitcoin on their balance sheets. Imitators include Bitcoin mining companies like Marathon Digital, Riot Platforms, Core Scientific, Terawulf, and Bitdeer, which have used similar convertible bond financing to purchase Bitcoin; Japan's Metaplanet plans to hold 10,000 Bitcoins by 2025; medical technology company Semler Scientific recently added 303 Bitcoins to its total holdings of 1,873 Bitcoins. In addition, Coinbase, as a custodian, holds over 11% of the total Bitcoin supply, including the Bitcoins held by MicroStrategy. Tesla and Hong Kong game company Boyaa have also joined the Bitcoin hoarding trend, with Tesla holding $1.5 billion in Bitcoin and Boyaa holding 3,183 Bitcoins worth $31 million.
French financial group Oddo is developing a Euro-pegged stablecoin, expected to launch next year
According to Bloomberg, sources familiar with the matter said that the Paris-based financial group Oddo BHF SCA is collaborating with crypto technology company Fireblocks to develop a Euro-pegged stablecoin, which Oddo expects to launch next year, pending regulatory approval. Oddo manages client assets exceeding €140 billion ($147 billion) and has around 3,000 employees as of the end of 2023, with three main business lines: private banking, asset management, and corporate and investment banking. The company is majority-owned by the Oddo family and had net banking income of €8.06 billion last year.
Anchorage Digital integrates with EigenLayer to provide ETH restaking services for institutions
According to the official announcement, the crypto custody platform Anchorage Digital has announced an integration with EigenLayer, enabling institutions to participate in ETH restaking and EIGEN custody and staking. EigenLayer stated that this marks an important milestone in the institutional adoption of EigenLayer restaking, as Anchorage Digital Bank NA is the only U.S. federally chartered bank authorized to provide digital asset staking services. Previously, Anchorage Digital had added support for the liquid staking token LsETH, providing ETH staking services for institutions.
ODOS Launches DAO and Introduces Tokenized Loyalty Program, Claiming Rewards to Begin on December 20
The DEX aggregator ODOS announced the official launch of Odos DAO and the introduction of its tokenized loyalty program, which will go live at 12:00 Beijing time on December 20. This marks its transition towards decentralized governance and user-centric growth. To reward early users, 494,278 eligible addresses will receive retroactive ODOS rewards based on their historical usage. Eligibility check will start on December 12, 2024, and claiming will begin on December 20, 2024.
EigenLayer Proposes to Introduce Slashing Mechanism
According to official information, the Ethereum staking protocol EigenLayer has released its second Improvement Proposal (ELIP-002): Slashing Mechanism. This ELIP proposal introduces a slashing mechanism to the EigenLayer protocol, enhancing crypto-economic commitments and providing tools for innovation and rewarding high-quality service operators for the Active Validation Service (AVS). The proposed slashing mechanism design incorporates two new concepts from Eigen Labs: Unique Stake and Operator Sets, enabling AVS to penalize operators who fail to fulfill their commitments (such as computational errors or liveness issues). Unique Stake ensures each AVS has exclusive, penalizable stakes, reducing systemic risk. Operator Sets allow AVS to subdivide tasks and operators to achieve better accountability and reward distribution.
BlackRock Executive: Currently Focused on Bitcoin and Ethereum ETFs, Not New Altcoin ETFs
According to Bloomberg ETF analyst Eric Balchunas, Jay Jacobs, Head of U.S. Thematic and Active ETFs at BlackRock, stated in the "ETFs in Depth" conference: "Our exploration of Bitcoin, especially Ethereum, is just the tip of the iceberg. Only a small number of clients hold (IBIT and ETHA), so our focus is on this area, not on launching new Altcoin ETFs."
Australian Asset Manager AMP Purchases $27 Million in Bitcoin
According to Bitcoin Magazine, the Australian asset management firm AMP, which manages $56 billion in assets, recently purchased $27 million worth of Bitcoin.
According to CryptoBriefing, Philip Banks, the creator of the Meme Coin ChillGuy's image, announced in a tweet that he would grant the intellectual property (IP) to the CHILLGUY token team. This sparked speculation that his X account had been hacked when people associated Banks' account with the new meme coin, Philb, being issued on Pump.fun. The new coin quickly gained traction, reaching a market cap of $1 million before being fully dumped. The official CHILLGUY X community account also expressed confusion: "Philip Banks' tweet tonight shocked us, as he announced he has granted licenses and IP. We will continue to seek more details. Please be cautious and do not transfer funds based on unverified information." Banks' sudden change of stance, from planning to take strict measures against unauthorized use of the ChillGuy character to now authorizing the token team, has left many perplexed. Despite the controversy, the market value of the ChillGuy token initially increased by 30% after the announcement of the IP grant, but this gain was quickly erased.
Securitize Appoints Former Grayscale CEO Michael Sonnenshein as Chief Operating Officer
According to the Securitize announcement, former Grayscale Investments CEO Michael Sonnenshein officially joined the company as Chief Operating Officer (COO) on December 9. During his 10-year tenure, Sonnenshein grew Grayscale into the world's largest crypto asset manager, with assets under management reaching tens of billions of dollars, and drove the approval of the first spot Bitcoin ETF in the U.S.
Nano Labs Increases Bitcoin Holdings to 360 BTC via Hong Kong's HashKey Exchange
According to the Nano Labs (NASDAQ: NA) announcement, the company recently increased its Bitcoin holdings through the Hong Kong-licensed virtual asset exchange HashKey Exchange, bringing its total Bitcoin holdings to approximately 360 BTC, valued at around $36.22 million. The company stated that its average Bitcoin purchase cost is $99,700 per BTC (including transaction fees).
Coinbase Plans to Delist USDT and Other Non-Compliant Stablecoins in Europe
According to Cointelegraph, Coinbase Europe, Coinbase Germany, and Coinbase Custody International will delist Tether's USDT and five other stablecoins (PAX, PYUSD, GUSD, GYEN, and DAI) on December 13 to comply with the European Union's Regulation on Markets in Crypto-Assets (MiCA). Coinbase stated that it will continue to support stablecoins that comply with MiCA, including USDC, which it co-operates with Circle, and the Euro stablecoin EURC, and will evaluate the possibility of relisting MiCA-compliant stablecoins in the future.
Binance to List Usual (USUAL) on December 18
Binance will end the pre-trading of Usual (USUAL) at 17:00 (UTC+8) on December 17, 2024, and open the following spot trading pairs at 19:00 (UTC+8) on December 18, 2024: USUAL/BTC, USUAL/USDT, USUAL/FDUSD, USUAL/TRY. The deposit channel will open at 18:00 (UTC+8) on December 17, 2024; USUAL withdrawal is expected to open at 19:00 (UTC+8) on December 19, 2024; and the transfer function will be restored before 18:00 (UTC+8) on December 17, 2024.
Coinbase International to List Movement Perpetual Futures Contract
Coinbase International announced on the X platform that Coinbase International and Coinbase Advanced will add support for the Movement perpetual futures contract. The MOVE-PERP market is expected to open at 17:30 Beijing time or later on December 17, 2024.
Grayscale Launches Lido Trust andOptimism Trust
Grayscale has added the Lido DAO Trust, aiming to provide investors with exposure to the Lido DAO ecosystem. Additionally, Grayscale announced the launch of the Optimism Trust, which aims to provide investors with exposure to the Optimism ecosystem.
BlackRock: Bitcoin Allocation Cap Can Reach 2%
According to Forbes, the world's largest asset manager, BlackRock, recommended in its research report "The Bitcoin Allocation in a Portfolio" that allocating 1% to 2% of a portfolio's assets to Bitcoin is a reasonable choice. BlackRock believes that Bitcoin, as a tool for portfolio diversification, has risk characteristics similar to those of the "Big Tech" stocks like Google, Amazon, and Apple, and its low correlation can reduce overall investment risk. BlackRock noted that Bitcoin's high volatility makes a higher allocation less feasible, with a 1% allocation accounting for 2% of the risk weight and a 2% allocation increasing it to 5%. However, BlackRock expects Bitcoin's return characteristics to change significantly in the future, potentially being used as a hedge against risk like gold.
Uplink Becomes the First DePIN Project Launched on the Avalanche Blockchain
According to The Block, the decentralized internet connectivity platform Uplink has officially launched on the Avalanche blockchain, becoming the first decentralized physical infrastructure network (DePIN) project on the Layer 1 network. Uplink aims to drive the decentralization of internet connectivity, especially in underserved areas, by incentivizing users to share existing networks and deploy new infrastructure.
Web3 communication protocol Push will launch Layer 1 blockchain Push Chain
According to The Block, the Web3 communication protocol Push Protocol is developing a Layer 1 blockchain called Push Chain, focusing on chain abstraction technology and supporting cross-network Web3 application development. Push Chain aims to address user experience fragmentation and scalability issues, and plans to launch the testnet in mid-January 2025 and the mainnet by the end of the year. The blockchain will have features such as wallet and Gas fee abstraction, sharding technology, and sub-second transaction finality, and will serve as a universal settlement layer for various Layer 1 and Layer 2 chains, supporting "universal smart contract" cross-chain operations.
According to Cointelegraph, Bitcoin sidechain Sequentia co-founder Andreas Kohl used the "DogeReaper" vulnerability to cause 69% of Dogecoin network nodes to crash. On-chain data shows that prior to the vulnerability exploitation, Dogecoin had 647 active nodes, but now only 315 remain.
Avalanche raises $250 million from investors including Galaxy
According to Forbes, despite the Avalanche Foundation holding AVAX tokens worth about $3 billion, it has raised $250 million through a private token sale. The round was led by Galaxy Digital, Dragonfly, and ParaFi Capital, with over 40 other companies participating, including SkyBridge and Morgan Creek Digital.
Smart contract platform Waterfall Network completes $116 million new funding round
According to IBTimes, the smart contract platform Waterfall Network has announced the completion of a $116 million new funding round, with Bolt's Capital, Alpha Token Capital, and Enflux participating to provide the funds to advance its research and development. The new capital will be used to strengthen the platform's infrastructure, simplify nodes, and further improve.
Tether mints 1 billion USDT on the Ethereum network in the early morning
According to Lookonchain monitoring, at 00:04 this morning, Tether minted 1 billion USDT on the Ethereum network. Since November 6, Tether has minted 21 billion USDT on the Ethereum and Tron blockchains.
Greeks.live: $2.1 billion in BTC options and $640 million in ETH options will expire today
Greeks.live macro analyst Adam posted on the X platform that 21,000 BTC options with a notional value of $2.1 billion will expire today, with a Put Call Ratio of 0.83 and a maximum pain point of $98,000. Additionally, 164,000 ETH options with a notional value of $640 million will expire today, with a Put Call Ratio of 0.68 and a maximum pain point of $3,700.
A whale has withdrawn 3.72 million OM, worth $15.53 million, from Binance in the past 48 hours
According to Onchain Lens monitoring, in the past 48 hours, a whale has withdrawn 3.72 million OM from Binance at an average price of $4.17, worth $15.53 million.
