Powell: We are not allowed to own Bit, and we do not want to change the law
The Federal Reserve announced its latest interest rate decision, cutting rates by 25 basis points as expected, with the federal funds rate target range lowered to 4.25%-4.5%. According to the Fed statement, recent data shows that economic activity has been growing steadily, the labor market has eased somewhat, the unemployment rate has risen but remains low, and inflation is close to the target but has risen slightly. The committee will continue to reduce the balance sheet, the decision was supported by a majority of members, with Beth Hammack dissenting, advocating to maintain rates in the 4.5%-4.75% range. Powell said at the press conference that we are not allowed to own Bit, and we do not want to change the law.
El Salvador reaches a $1.4 billion loan agreement with the IMF, Bit payments will become voluntary
According to Cointelegraph, El Salvador has reached a $1.4 billion loan agreement with the International Monetary Fund (IMF), with plans to receive funding support over the next 40 months. As part of the agreement, the country will make Bit payments by merchants voluntary, and gradually reduce government involvement in Bit-related projects, including gradually withdrawing from the management of the state-backed wallet app Chivo.
OpenAI: ChatGPT now supports interacting with users via phone
U.S. stocks close: Nasdaq drops 3.5%, Dow sets longest daily losing streak in 50 years
U.S. stocks closed on Wednesday, with the Dow Jones down 2.58%, setting the longest daily losing streak since 1974 (down for the 10th consecutive trading day); the S&P 500 fell 2.95%, and the Nasdaq fell 3.6%. Tesla (TSLA.O) fell 8.28%, Nvidia (NVDA.O) fell 1.14%. The VIX volatility index rose as much as 78.0% intraday, and was at 28.32 after the U.S. stock market close.
Sonic Labs announces its mainnet has officially launched
Usual announces it will integrate USDtb and sUSDe as core parts of its future business strategy
Kelp DAO releases KERNEL token economics, with 55% allocated to community rewards and airdrops
Kelp DAO, an Ethereum liquidity re-staking platform, has released details of the KERNEL token economics, with 55% allocated to community rewards and airdrops (20% for airdrops, 35% for future community rewards), 5% for ecosystem and partnerships, 20% for private sales, and 20% for the team and advisors (team and private sale tokens have a 6-month lock-up and will be unlocked over 24 months).
Kraken's L2 network Ink officially launches mainnet, several months ahead of the original plan
Aave developer Avara raises $31 million to develop Lens, led by Lightspeed Faction
According to TechCrunch, Avara, the developer of the Aave protocol, has announced the completion of a $31 million funding round led by Lightspeed Faction. Alchemy, Avail, Circle, ConsenSys, DFG, Fabric Ventures, Foresight Ventures, Stellarcore, Superscript, Re7, and Wintermute Ventures also participated. In addition, the angel investors participating in this round include Anurag Arjun, Anton Bukov, Rune Christensen, Alex Gluchowski, Aleksander Leonard Larsen, Loi Luu, Spencer Noon, and Duncan Robinson. With Lens, Avara is building a decentralized protocol that can provide infrastructure for social and consumer applications.
Token-based startup Plume raises $20 million, with Haun Ventures among the investors
Token-based startup Plume has completed a $20 million new round of financing, with Brevan Howard Digital, Haun Ventures, Lightspeed Faction, Galaxy Ventures, Superscrypt, Hashkey, Laser Digital (a subsidiary of the Nomura Group), A Capital, 280 Capital, SV Angel, and Reciprocal Ventures all participating, bringing its total funding to $30 million. Plume will use the funds raised in the latest round to expand from crypto-native users to traditional financial companies and asset managers.
According to the latest research report from Syndica, the Solana ecosystem saw significant growth in November, with on-chain revenue reaching $92 million and DApp total revenue hitting a record high of $365 million. Among them, Pump.fun became the first DApp on Solana to exceed $100 million in monthly revenue, reaching $106 million and accounting for 26% of the ecosystem's total revenue. DeFi applications contributed 83.7% of the revenue, with meme coin applications generating over $500 million in annual revenue, a 305-fold increase from $600,000 in January. Telegram trading bots revenue doubled to $82 million, accounting for 4-5% of DEX trading volume.
DEX platform Raydium generated $32 million in revenue in November, accounting for 86% of the spot DEX total revenue, and bought back $28 million (about 540,000 RAY) worth of tokens to distribute to stakers. Jupiter set a new high of $17 million in revenue from its perpetual contract business, with 75% rewarded to JLP liquidity providers. Phantom wallet's annual revenue reached $91 million, and Solflare reached $31 million. The lending platform Kamino Finance set a new high of $2.9 million in revenue, with 80% coming from lending business. The payment infrastructure Helio saw a 7-fold increase in revenue to $316,000.
World Liberty bought 231,726 ENA for $250,000 USDC 4 hours ago
Marathon Digital has accumulated 1,627 BTC worth about $166 million in the past 8 hours
USV transferred 1,156,000 UNI to Coinbase Prime 4 hours ago
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