Author | Wu Blockchain
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1. The Federal Reserve announces the interest rate decision (upper limit) of 4.50% link
The Federal Reserve announced the interest rate decision (upper limit) of 4.50%, expected 4.50%, previous value 4.75%. According to the statement of the Federal Reserve, recent data shows that economic activity is steadily growing, 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 resolution was supported by the majority of members, Beth Hammack dissented, advocating to maintain the interest rate in the range of 4.5%-4.75%. Powell said at the press conference that we are not allowed to own Bitcoins and do not want to change the law. The dot plot shows that the forecast for rate cuts next year has been reduced from 4 to 2 adjustments; Powell said that in the future, when considering interest rate adjustments, we can be more cautious, and the path depends on making more progress in reducing inflation. It may take one or two more years to reach the inflation target. It is unlikely that there will be rate hikes next year.
2. Trump: Will ensure that Bitcoin and cryptocurrencies thrive in the United States link
President-elect Trump attended the Blockchain Association's annual policy summit dinner and delivered an important speech. Trump said he would fully support the development of the blockchain industry in the United States, ensuring that related businesses remain in the United States rather than flowing to other countries. He emphasized: This is an emerging concept and industry that is thriving. We will ensure that the United States maintains a global leadership position in this field.
3. The Bitcoin Policy Institute has drafted a presidential executive order for Trump to include Bitcoin in the U.S. strategic reserve assets link
The Bitcoin Policy Institute has drafted a presidential executive order for the Trump administration to include Bitcoin in the U.S. strategic reserve assets, proposing to establish a Strategic Bitcoin Reserve (SBR) and incorporate it into the Treasury Department's Exchange Stabilization Fund (ESF). The order advocates treating Bitcoin as "digital gold" to enhance national economic security, consolidate the U.S. financial dominance, and promote the development of the digital asset industry. In addition, the order requires the integration of the government's Bitcoin holdings and the launch of a procurement and management plan within 60 days.
4. Arthur Hayes: The Trump team may bypass the Federal Reserve to "print money" link
BitMEX co-founder Arthur Hayes tweeted that Powell is not as cooperative with Trump as he was with Biden. However, it doesn't matter, as Trump's nominated Treasury Secretary Scott Bessent will counterbalance Powell like "bad girl" Yellen. The Trump team may use the following three strategies to bypass the Federal Reserve's intervention and achieve "money printing" operations: ending the conservatorship of Fannie Mae and Freddie Mac; promoting the economy by devaluing the U.S. dollar against the exchange rate of gold; and implementing a leverage capital requirement (SLR) exemption.
5. Cathie Wood: Trump's election may trigger a wave of private company acquisitions, and Bitcoin's scarcity is superior to gold link
In an interview, ARK Invest CEO Cathie Wood said that Trump's election will bring a wave of private company acquisitions that were previously blocked by cumbersome regulatory procedures. She pointed out that the Federal Trade Commission's (FTC) policy adjustments will release potential acquisition demand and create liquidity opportunities for venture capitalists. In addition, Musk will play an important role in reducing the size of the government. Meanwhile, Wood reiterated her prediction that Bitcoin will surpass $1 million by 2030, emphasizing that Bitcoin has a scarcity advantage over gold, as when gold prices rise, mining companies will increase production and accelerate supply growth, while Bitcoin will not experience this situation.
6. Expectations for crypto ETFs next year: BTC/ETH combo leading, LTC and HBAR may be the first to be approved link
Bloomberg ETF analyst James Seyffart wrote that the SEC's approval of Solana and XRP ETFs has been delayed and will be reconsidered only after the new SEC management team takes office, and the relevant legal issues still need to be resolved. The approval prospects for Litecoin and HBAR ETFs are better, as Litecoin is seen as a Bitcoin fork and has not been identified as a security by the SEC. Currently, Canary is the only issuer that has submitted applications for Litecoin and HBAR ETFs, but investor demand is still unclear. Additionally, Bloomberg ETF analyst Eric Balchunas said that a wave of cryptocurrency ETFs is expected next year, likely starting with a BTC + ETH combo ETF, followed by Litecoin, then HBAR, and then XRP/Solana.
7. FTX announces that its reorganization plan will take effect and the first distribution will be launched on January 3, 2025 link
FTX and its affiliated debtors announced today that their court-approved Chapter 11 reorganization plan will take effect on January 3, 2025, and the first distribution is expected to be made within 60 days of the effective date. FTX also announced that it has reached agreements with BitGo and Kraken to assist in the distribution of recovery funds to retail and institutional clients, as well as other creditors, in accordance with the plan. In addition, FTX filed a lawsuit against Gate on November 24, seeking to recover $40 million in crypto assets held by the exchange. On-chain transfers show that at least $35 million has been returned to wallets controlled by FTX.
8. Deutsche Bank is developing an Ethereum L2 blockchain based on ZKsync technology link
According to Bloomberg, Deutsche Bank is developing an Ethereum L2 blockchain based on ZKsync technology. The bank's L2 solution, named Project Dama 2, will integrate directly with the Ethereum mainnet. The project design introduces a trusted verifier mechanism and grants special supervisory powers to regulators to mitigate the risk of interactions with sanctioned entities, while ensuring a balance between blockchain transparency and financial compliance requirements. Deutsche Bank plans to launch a minimum viable product (MVP) in 2025, and is currently awaiting regulatory approval.
9. MicroStrategy (MSTR) has been included in the Nasdaq-100 Index link
MicroStrategy (MSTR) has been included in the Nasdaq-100 Index. MicroStrategy will become the 40th largest company in the Nasdaq-100 Index. Inclusion in this index will give MicroStrategy a presence in one of the world's largest ETFs, the Invesco QQQ Trust (QQQ), which has over $300 billion in assets under management.
On December 16, MicroStrategy acquired an additional 15,350 BTC for approximately $1.5 billion, at an average price of $100,386. The BTC gain for the quarter to date is 46.4%, and the year-to-date BTC gain is 72.4%. As of December 15, 2024, MicroStrategy holds 439,000 BTC, with an average purchase price of $61,725 and a total cost of approximately $27.1 billion.
10. Binance Global User Survey: The number of Meme coin holders exceeds Bitcoin, nearly half of users entered the crypto market in 2024 link
Binance released a global user survey report, surveying a total of 27,230 respondents. In the emerging sub-industry, 23.89% of respondents believe that AI tokens will drive market growth, making it the digital asset category with the greatest upside potential. Memecoins ranked second, with 19.09% of respondents expressing confidence in their potential upside, followed by DeFi tokens (12.37%) and layer-1 tokens (12.28%). In terms of the most popular tokens among users, meme coins dominated, with 16.1% of respondents currently holding memecoins. Bitcoin ranked second with a 14.44% holding rate. The survey also showed that a large number of new users are entering the cryptocurrency market. Nearly half (45%) of the respondents joined the cryptocurrency market in 2024.
Key Financing Events
- Aave, Lens, and Family developer Avara completed a $31 million financing round link
- AI Agent startup /dev/agents completed a $56 million seed round financing link
- UK stablecoin infrastructure company BVNK announced a $50 million Series B financing link
- Tokenized securities company Prometheum announced a $20 million financing link
- Content tokenization platform Promeet completed a $3.1 million Pre-seed round financing link
- Tokenization startup Plume completed a $20 million financing link
- Decentralized AI data chain project Masa completed a new round of strategic financing, led by DCG link
- Fraction AI completed a $6 million Pre-seed financing, focusing on decentralized data labeling link
- The Lightning Network liquid staking protocol UTXO Stack completed a Series A financing, and will airdrop incentives for CKB and RGB++ assets link
- Decentralized AI model development platform FLock.io announced a $3 million financing link
- BitDCA announced a $2 million seed round financing link
- TON ecosystem L2 project DuckChain announced a $5 million financing link
- VanEck's fund invested $2.5 million in the Solana DePIN project DAWN link
For more industry financing events, please check crypto-fundraising.info.
