Trump Appoints Bo Hines as Executive Director of the Presidential Digital Assets Advisory Council
According to The Block, former U.S. President Donald Trump announced that he has appointed Bo Hines as the Executive Director of his "Presidential Digital Assets Advisory Council", leading its "Crypto Committee". Bo Hines was previously a college football player and was unsuccessful in his 2022 bid for Congress. Trump wrote, "In his new role, Bo Hines will work alongside David Sacks to drive innovation and growth in the digital assets space, while ensuring industry leaders have the resources they need to succeed."
According to CCTV News, former U.S. President Trump announced the nomination of Sriram Krishnan as the next Senior AI Policy Advisor in the White House Office of Technology Policy. Trump stated in the announcement that Sriram Krishnan will work closely with David Sacks to focus on ensuring the U.S. maintains its leadership position in artificial intelligence. Previous reports in November indicated that a16z general partner Sriram Krishnan would be leaving the firm by the end of the year.
MicroStrategy founder Michael Saylor has released Bitcoin Tracker-related information for the seventh consecutive week, but this time it's different from before - he stated that "the orange dots on the website are meant to be motivational." (Note: MicroStrategy previously marked each BTC purchase with a green dot on the website, while the BTC price trend line was in blue, but this time the previous green dots have turned orange.) Based on past patterns, MicroStrategy typically purchases more BTC the day after related news is released.
Previous news indicated that Michael Saylor stated that the upcoming accounting rule changes may allow MicroStrategy to meet the S&P 500 profitability requirements.
Securitize Proposes Adding BlackRock's BUIDL Token as Collateral for Stablecoin Frax USD
The decentralized stablecoin protocol Frax Finance is considering integrating BlackRock's BUIDL token as a reserve asset for its soon-to-be-relaunched Frax USD stablecoin, but the decision requires governance approval. Securitize Markets has written a governance proposal stating that this move would not only improve the usability, security, and convenience of Frax USD, but also reduce counterparty risk in the reserves. The BUIDL token currently manages over $530 million in assets, primarily in short-term U.S. Treasuries. While the proposal has not yet been put to a vote, initial feedback from Frax Finance Decentralized Autonomous Organization (DAO) members has been generally positive.
Concurrently, the Frax core team is planning to rename its core stablecoin to Frax USD (frxUSD) and launch Staked Frax USD (sfrxUSD) as a yield-bearing counterpart, as outlined in another governance proposal. If the collaboration with Paxos is successful, frxUSD will be directly redeemable for fiat currency and may benefit from Frax Finance's efforts to secure a Federal Reserve master account. The new minting-redemption system will accompany the stablecoin launch, and under the new "Designated Custodian" system, if the governance allows certain assets to back frxUSD, the relevant entities will be granted frxUSD minting-redemption rights.
The competing tokenized asset platform Superstate has also put forward two governance proposals, suggesting that Frax adopt its USTB Treasury and USCC crypto arbitrage funds as stablecoin collateral. Superstate is urging Frax to allocate up to $20 million to its USCC fund and up to $100 million to its USTB fund.
According to Bitcoin.com, Amazon founder Jeff Bezos has drawn widespread attention by firmly denying rumors that he and his fiancée Lauren Sanchez are planning a $600 million wedding in Aspen, Colorado. He explicitly stated that these rumors are completely fabricated. In response, a number of billionaires, including Tesla founder Elon Musk, have expressed their support for Bezos. Musk even jokingly wished Bezos a grand wedding in the future, while Pershing Square CEO Bill Ackman directly dismissed the $600 million wedding rumor as "not credible." However, amidst the public discussion, MicroStrategy founder Michael Saylor cleverly shifted the focus. He joked, "You could buy a lot of Bitcoin with $600 million." This development closely follows a proposal by Amazon shareholders to encourage the company to invest at least 5% of its assets in Bitcoin (BTC), which aligns with a similar recent proposal to Microsoft. Saylor's remarks once again highlight the ongoing efforts to incorporate Bitcoin into mainstream financial discussions and leverage popular events to emphasize its investment potential. As Bezos brushed off the wedding gossip, Saylor seized the opportunity to direct attention towards the broad prospects of Bitcoin as an alternative asset.
Greeks.live: Christmas Holiday Expected to Tighten Crypto Liquidity, Heightening Risk-Off Sentiment
Adam, a macroeconomic analyst at Greeks.live, posted on the X platform that this Wednesday is Christmas, and major exchanges in Europe and the U.S. will be on holiday, which typically leads to capital outflows from the crypto market. Currently, ETFs are the primary external source of capital for the crypto market, and the capital outflows will put significantly more pressure on the crypto market compared to previous years, resulting in a heightened risk-off sentiment. Regarding the crypto market outlook, the current bull market has not yet seen a major correction, and with the tightening liquidity during the Christmas holiday, a deleveraging event before Trump's inauguration cannot be ruled out, leading to a risk-off sentiment in the market.
In the crypto rates market, the options market has nearly $12 billion in options expiring, accounting for over 40% of the current total open interest. Large traders and market makers are actively adjusting their positions, and there may be occasional opportunities to pick up bargains in the market. The volatility expectations for the Christmas week are not high, and the market is more focused on positioning for the period around Trump's inauguration at the end of January, which remains a good opportunity to buy options.
Binance co-founder CZ posted on the X platform that he has recently seen cases where people receive crypto by accepting private keys or hardware wallets, which is a bad idea because the giver still has access to those crypto assets. Instead, crypto should be transferred to one's own address, or even better, the giver should just send it directly to the recipient's own address. Allowing two people to access the same key (or seed phrase) is a bad idea. When the crypto is moved (or stolen by a hacker), it is almost impossible to prove who moved it (or who was hacked).
Hut 8 CEO: Building Strategic Bitcoin Reserves Based on Operating Strategy and Capital Management
Here is the English translation:Hut 8, a Bitcoin mining company listed on the Nasdaq, CEO Asher Genoot posted on the X platform to explain why the company chose to build a strategic Bitcoin reserve. He said: "A fundamentals-first operating strategy + proactive capital management = excellent value creation potential." According to the screenshots shared by Asher Genoot, Hut 8's strategic Bitcoin reserve supports the flywheel effect, combining capital and operational strategies to accelerate the value creation of the entire business. Its capital strategy includes: allocating capital to projects with high ROIC, capturing BTC price appreciation and strengthening the balance sheet, increasing strategic BTC reserves through low-cost production and strategic market purchases, and focusing on delivering excellent long-term returns for shareholders. Its operational strategy includes: expanding scale and geographic reach, developing digital infrastructure platforms, expanding BTC mining scale and reducing BTC mining costs.
Binance co-founder CZ previously reposted on the X platform a media report about the UAE holding $40 billion worth of Bitcoin. Later, some members of the community questioned the data, believing the related report looked like an AI-generated article. CZ responded: "I also want to know how they came up with this exact number, it's difficult to collect the relevant data, and the number is higher than I expected, but then again, there are a lot of wealthy people there (in the UAE)."
Barclays: Expects the Fed to pause rate hikes after June 2023 until mid-2026
According to Jinshi News, Barclays Bank said that one of the factors that may keep US interest rates high is US (inflation) policy. At the December meeting, some FOMC participants apparently began to reflect expectations of tariffs in their inflation forecasts. Furthermore, even among those who did not adjust their official forecasts, many now believe that the balance of inflation risks is tilted to the upside. Although Powell did not explicitly answer to what extent the Fed views tariff-related price level increases, we believe that with tariffs expected to exacerbate inflation in the second half of 2025, particularly against the backdrop of rising inflation rates in recent years, it will be a challenge for the Fed to continue cutting rates. We expect the Fed to pause rate cuts after June 2023 and resume cutting around mid-2026 after the inflationary pressure from tariffs dissipates. In our baseline, we expect two 25 basis point rate cuts in 2026, with a terminal rate of 3.25-3.50%.
Token Unlocks data shows that tokens such as MRS, ADA, and ENA will see large unlocks this week:
- Metars Genesis (MRS) will unlock about 10 million tokens at 8 AM Beijing time on December 23, accounting for 11.87% of the current circulating supply, worth about $34.7 million;
- Cardano (ADA) will unlock about 18.53 million tokens at 8 AM Beijing time on December 26, accounting for 0.05% of the current circulating supply, worth about $16.6 million;
- Ethena (ENA) will unlock about 12.86 million tokens at 3 PM Beijing time on December 25, accounting for 0.44% of the current circulating supply, worth about $13.5 million;
- Murasaki (MURA) will unlock about 20 million tokens at 8 AM Beijing time on December 23, accounting for 34.84% of the current circulating supply, worth about $12.2 million;
- Eigenlayer (EIGEN) will unlock about 1.29 million tokens at 3 AM Beijing time on December 25, accounting for 0.61% of the current circulating supply, worth about $4.9 million;
- MMX (MMX) will unlock about 1.67 million tokens at 8 AM Beijing time on December 24, accounting for 1.11% of the current circulating supply, worth about $1.8 million;
- Venom (VENOM) will unlock about 33.76 million tokens at 8 AM Beijing time on December 25, accounting for 1.77% of the current circulating supply, worth about $2 million;
- Coin98 (C98) will unlock about 16.53 million tokens at 7 PM Beijing time on December 23, accounting for 1.88% of the current circulating supply, worth about $2.7 million;
- Hooked Protocol (HOOK) will unlock about 4.17 million tokens at 8 AM Beijing time on December 25, accounting for 1.97% of the current circulating supply, worth about $1.7 million;
- Karrat (KARRAT) will unlock about 11.25 million tokens at 8 AM Beijing time on December 23, accounting for 6.45% of the current circulating supply, worth about $4.4 million.
Arthur Hayes deposits 2 million ENA worth $2.06 million into Bybit
According to OnchainLens monitoring, 2 hours ago, Arthur Hayes has deposited 2 million ENA, worth $2.06 million, into Bybit, at an average price of $0.97. Previously, he had redeemed 9.01 million ENA and deposited $7 million worth of ENA into Binance.
According to Lookonchain monitoring, whales are accumulating LINK, and in the past 48 hours, 9 newly created wallets have withdrawn 362,380 LINK worth $8.19 million from Binance.
According to CryptoSlam data, the Ethereum-based NFT sales volume has exceeded $200 million in the past 7 days, currently reaching $203,393,393. Among them, the NFT project Pudgy Penguins has a sales volume of $52,731,146, accounting for about 25.9% of the Ethereum-based NFT sales volume, ranking first; LilPudgys has a sales volume of $18,645,354, ranking second; Azuki ranks third with a sales volume of $17,339,164.
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