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Top 10 News of the Week

1. US Announces December CPI Monthly Rate of 0.4%, Expected 0.30% link

The US announced a seasonally adjusted CPI monthly rate of 0.4% for December, higher than the expected 0.30% and the previous 0.30%. The unadjusted CPI year-on-year rate in December was 2.9%, in line with expectations and up from 2.70% previously. The US unadjusted CPI year-on-year rate has rebounded for the third consecutive month, reaching a new high since July 2024. The US unadjusted core CPI year-on-year rate recorded 3.2% in December, a new low since August 2024, with the market expecting it to remain flat at 3.3%.

QCP analysis pointed out that the global market was boosted by the CPI data coming in lower than expected, with Bitcoin briefly rising to around $100,000. The Bitcoin spot ETF recorded a net inflow of $723 million in a single day, reflecting strong institutional demand. In the options market, investors were concentrated in buying call options with strike prices between $100,000 and $110,000, further indicating the market's optimistic sentiment towards the prospects of crypto assets. At the same time, Bitcoin's market share has declined from 58.6% to 57.4%, and if it breaks below the 57.3% support level, it may signal that Altcoins and other crypto assets are poised for a strong "Altcoin season".

2. Trump Has Recently Met with Founders of Some US-Based Crypto Projects link

The President-elect Trump is set to sign several executive orders supporting the crypto industry, including establishing a Bitcoin reserve, ending "de-banking" policies, and nominating several "pro-crypto" officials to key positions. While many in the crypto community welcome the upcoming pro-crypto executive orders from Trump, one idea has sparked more controversy: the establishment of a 'America First' strategic reserve that prioritizes digital currencies created by US-based projects such as Solana, USD Coin, and Ripple. Sources say Trump has recently met with the founders of these projects and is open to this idea.

3. Trump "Hush Money" Case Ruled: 34 Counts Convicted, Unconditionally Released Without Punishment link

Judge Juan Merchan ruled to unconditionally release Donald Trump. The New York State Supreme Court judge has ruled on the Trump "hush money" case, finding Trump guilty on 34 counts, but given his importance in the presidential power transition process, he is unconditionally released without any punishment.

4. Trump Administration Plans to Appoint About 24 CEOs and Founders to Crypto Advisory Council link

The Trump administration plans to appoint about 24 CEOs and founders to its proposed crypto advisory council. The council may provide guidance on digital asset policies and collaborate with Congress to draft cryptocurrency legislation. It also plans to establish a strategic Bitcoin reserve to fulfill Trump's campaign promises. Additionally, it will work with major government agencies, including the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and the Treasury Department, to enhance regulatory transparency and foster a crypto-friendly environment.

5. Reuters: New SEC to Launch Crypto Currency Reform link

The US SEC will begin reviewing past crypto-related cases after Trump takes office, potentially freezing some lawsuits without fraud allegations, some of which may eventually be withdrawn. The SEC may also quickly revoke accounting guidance that has made it too costly for some listed companies to represent third-party crypto token holdings. Measures being considered by the new SEC include initiating relevant procedures to ultimately issue guidance or rules clarifying when the agency will treat cryptocurrencies as securities, and reviewing some ongoing crypto enforcement cases in court.

6. South Korean Financial Regulatory Agency Imposes Suspension Penalty on Upbit link

The Korea Financial Intelligence Unit (FIU) has issued a suspension penalty notice to the country's largest crypto exchange Upbit, citing alleged violations of anti-money laundering obligations related to customer due diligence (KYC) under the Special Financial Transactions Information Act. According to the notice, Upbit may face a suspension of up to 6 months, during which new customer registrations will be restricted, but existing user transactions will not be affected. Upbit can submit its opinion on the disposition to the financial intelligence agency within 20 days. After receiving Upbit's explanation, the FIU will hold a sanction hearing on the 21st and finalize the sanction measures, including the suspension period.

7. Coinbase Resumes Bitcoin Lending for US Users Through Morpho link

US users (excluding New York) can now apply for loans by collateralizing Bitcoin through Coinbase, with the service powered by the DeFi protocol Morpho, marking Coinbase's re-entry into the crypto lending market. Users can directly access Morpho's overcollateralized lending services through Coinbase, without having to manage crypto assets or directly interact with DeFi protocols. This is Coinbase's second attempt at Bitcoin lending, as its previous lending program was discontinued in 2023 due to SEC complaints and declining demand. Although Coinbase provides the loans and covers network fees, users still bear the risks of interest rate fluctuations and liquidations.

8. Santander Bank: Bitcoin Adoption Impact, El Salvador Sees 22% YoY Growth in Foreign Visitors in 2024 link

One of the world's largest banking groups, Santander Bank, highlighted in a report the significant growth of El Salvador's tourism industry, which is closely related to the country's acceptance of Bitcoin. According to El Salvadoran authorities, the country hosted 3.9 million visitors in 2024, a 22% increase from the previous year. The influx of visitors was mainly driven by American tourists, many of whom were attracted by the novel experience of transacting in Bitcoin in daily life.

9. Inaugural Crypto Ball to Be Held on January 17 in Washington link

The inaugural Crypto Ball is scheduled to take place on January 17 at the Andrew W. Mellon Auditorium in Washington, D.C., to celebrate Trump's inauguration. "Crypto Czar" David Sacks will host the event, which is organized by BTC Inc and co-hosted by organizations like Stand WithCrypto and Kraken, with sponsors including Coinbase, Sui, MetaMask, Galaxy Digital, and Solana. Additionally, the Trump-backed super PAC (MAGA Inc.) will host a VIP reception during the ball, also hosted by David Sacks. VIP tickets are priced at $100,000, while a $1 million package includes four VIP tickets and a future dinner with Trump. Trump is not expected to attend the event.

10. NFT market trading volume and sales numbers hit a three-year low in 2024 link

The NFT market's trading volume and sales numbers hit a three-year low in 2024. The report shows that compared to 2023, the annual NFT trading volume decreased by 19%, while the sales numbers decreased by 18%. In early 2024, the NFT trading volume reached $5.3 billion in the first quarter, a slight 4% increase compared to the same period in 2023. However, the trading volume plummeted to $1.5 billion in the third quarter, then slightly rebounded to $2.6 billion in the fourth quarter.

Key Funding Events

• 1Money announced the completion of a $20 million seed funding round link
• Crypto bank Sygnum completed a $58 million funding round link
• Privasea AI completed a $15 million total funding round link
• Bitcoin Layer2 developer Alpen Labs announced the completion of an $8.5 million strategic funding round link
• AI payment infrastructure Nevermined announced the completion of a $4 million seed funding round link
• Starpower announced the completion of a $2.5 million new funding round, bringing the total funding to $4 million link
• RWA tokenization platform Brickken completed a $2.5 million seed funding round link
• Reown announced the completion of a $13 million Series B funding round link
• BeraTone announced the completion of a $2 million seed funding round link
• Crypto wallet technology company Dfns completed a $16 million funding round link
• Cross-chain infrastructure SYNTHR announced the completion of 5 funding rounds, raising a total of $10 million link

For more industry funding events, please check crypto-fundraising.info.