FASB's fair value accounting rules for Bit become effective today
According to a post by The Bitcoin Historian on Bitcoin Magazine, the FASB fair value accounting rules officially take effect for Bit today. Previously, companies could only assess the value of Bit at the purchase price, not its appreciation.
The image shows that last week, MicroStrategy founder MichaelSaylor stated that FASB (the Financial Accounting Standards Board) has officially approved the fair value accounting rules for Bit, which will apply to fiscal years beginning after December 15, 2024. This improvement will drive the adoption of Bit as a reserve asset by enterprises.
The owner of Pnut the Squirrel has taken legal action against Binance
According to a statement and legal documents provided by Squirrel_Dad (the owner of the internet celebrity squirrel "Pnut the Squirrel"), his legal team has formally issued a cease and desist letter to Binance, accusing Binance of unauthorized use of his intellectual property rights, including the image, trademark and content of "Peanut the Squirrel". The letter alleges that Binance has displayed the relevant content and issued Tokens on its platform without permission, infringing on copyrights and trademarks. Squirrel_Dad stated that he will protect his creative work through legal means and plans to take further legal action.
Squirrel_Dad's actions have caused some user dissatisfaction, and his personal X account may have been reported by multiple people, currently displaying a warning that his personal profile may contain potentially sensitive content.
According to Bitcoin Magazine, Bit creator Satoshi Nakamoto has become the 16th richest person in the world, with a personal wealth estimated at $106 billion, surpassing Michael Bloomberg, as the price of Bit reached $106,000.
El Salvador's Bit holdings have now appreciated by over $360 million
According to screenshots shared by El Salvador President Nayib Bukele on the X platform, the value of the country's Bit holdings has exceeded $632 million, with an unrealized gain of over $360 million, a return of 133.95%.
According to Arkham's monitoring, this morning at 6:51 Beijing time, the crypto project World Liberty related to the Trump family spent 250,000 USDC to purchase 134,216 ONDO Tokens through the Cow Protocol.
Last night, the Trump family's crypto project World Liberty Fi increased its AAVE holdings again, worth about $91,000
Token Unlocks data shows that Tokens such as ARB, APE, and QAI will see major unlocks this week:
Arbitrum (ARB) will unlock about 926.5 million Tokens on December 16th at 9pm Beijing time, accounting for 2.26% of the current circulating supply, worth about $914 million;
ApeCoin (APE) will unlock about 156 million Tokens on December 17th at 8:30pm Beijing time, accounting for 2.16% of the current circulating supply, worth about $240 million;
QuantixAI (QAI) will unlock about 232,000 Tokens on December 18th at 8am Beijing time, accounting for 5.16% of the current circulating supply, worth about $220 million;
Cardano (ADA) will unlock about 18.53 million Tokens on December 16th at 8am Beijing time, accounting for 0.05% of the current circulating supply, worth about $201 million;
Pixels (PIXEL) will unlock about 54.38 million Tokens on December 19th at 6pm Beijing time, accounting for 7.05% of the current circulating supply, worth about $121 million;
Ethena (ENA) will unlock about 12.86 million Tokens on December 18th at 3pm Beijing time, accounting for 0.44% of the current circulating supply, worth about $147 million;
Echelon Prime (PRIME) will unlock about 750,000 Tokens on December 17th at 8am Beijing time, accounting for 1.46% of the current circulating supply, worth about $105 million;
Eigenlayer (EIGEN) will unlock about 1.29 million Tokens on December 18th at 3am Beijing time, accounting for 0.61% of the current circulating supply, worth about $62 million;
Fusionist (ACE) will unlock about 1.8 million Tokens on December 18th at 8am Beijing time, accounting for 4.26% of the current circulating supply, worth about $49 million;
Catizen (CATI) will unlock about 9.9 million Tokens on December 18th at 8am Beijing time, accounting for 4.81% of the current circulating supply, worth about $49 million;
Hooked Protocol (HOOK) will unlock about 4.17 million Tokens on December 20th at 8am Beijing time, accounting for 1.97% of the current circulating supply, worth about $23 million;
OmniFlix Network (FLIX) will unlock about 15.31 million Tokens on December 17th at 8am Beijing time, accounting for 3.76% of the current circulating supply, worth about $19 million;
Mintlayer (ML) will unlock about 9.91 million Tokens on December 16th at 8am Beijing time, accounting for 5.90% of the current circulating supply, worth about $15 million;
Hatom (HTM) will unlock about 1.07 million Tokens on December 19th at 8am Beijing time, accounting for 2.39% of the current circulating supply, worth about $13 million.
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