Today's news tips:
Microstrategy spends $1.5 billion to increase its holdings of 15,400 Bitcoins
Fox Business reporter: Trump may announce SEC chairman candidate as early as tomorrow
Coinbase Adds Moo Deng (MOODENG) to its Listing Roadmap
Regulatory News
According to CME's "Fed Watch": The probability of the Fed maintaining the current interest rate unchanged by December is 25.5%, and the probability of a cumulative interest rate cut of 25 basis points is 74.5%. The probability of maintaining the current interest rate unchanged by January next year is 20.6%, the probability of a cumulative interest rate cut of 25 basis points is 65.1%, and the probability of a cumulative interest rate cut of 50 basis points is 14.3%.
Fox Business reporter: Trump may announce SEC chairman candidate as early as tomorrow
According to Fox Business reporter Eleanor Terrett, U.S. President-elect Trump may announce his successor to Gary Gensler as SEC chairman as early as tomorrow.
WisdomTree Submits XRP ETF S-1 Application to the US SEC
According to an S-1 filing with the U.S. Securities and Exchange Commission (SEC), WisdomTree has submitted an application to the U.S. SEC for the WisdomTree XRP Fund, which is an exchange-traded fund (ETF) that issues common shares of beneficial ownership and will be listed on Cboe BZX Exchange, Inc. under the ticker "TICKER". The investment objective of the trust is to gain exposure to the price of XRP, minus the expenses and liabilities of the trust's operations. The Bank of New York Mellon ("BNYM") serves as the trust's administrator, fund accountant, and transfer agent.
Starting next year, institutions such as universities and local governments in South Korea may be able to cash in cryptocurrency donations, according to hankyung. This is because the South Korean government has developed a plan to gradually allow companies to open fiat currency accounts for virtual assets, which has been restricted before. The Financial Services Commission (FSC) of South Korea plans to release a "Roadmap for Allowing Companies to Open Virtual Assets Fiat Currency Accounts" (tentative name) by the end of this month, according to reports. Currently, to trade won on Korean crypto exchanges, it is necessary to open a real-name account associated with the transaction at a commercial bank. Although there is no explicit regulation prohibiting companies from opening such accounts, banks have been restricting the issuance of accounts based on the authorities' "Anti-Money Laundering Guidelines." The financial authorities plan to first allow the opening of real-name accounts for non-profit legal entities such as central government departments, local governments, public institutions, and universities (Phase 1). The second phase plans to allow the opening of fiat currency accounts for related business parties such as cryptocurrency exchanges. The government said it will consider allowing general companies (Phase 3) and financial companies (Phase 4 and 5) to open legal person accounts in the medium and long term.
AI&Metaverse&NFT
World Labs, a spatial intelligence company founded by Stanford University professor Fei-Fei Li, announced the development of an AI system that can generate a complete 3D world from a single input image and solve the problem of lack of control and consistency of existing generative AI models. The system can not only estimate 3D geometric shapes, but also fill in the unseen parts of the scene and generate new content, allowing users to freely explore 3D scenes in a game-like way.
The generated 3D scene supports real-time rendering in the browser, allowing simulation of 3D camera effects (such as shallow depth of field and dolly zoom). Compared with the generative model of pixel prediction, this system follows 3D geometric rules, the scene is consistent and supports dynamic interactions, such as modifying light, appearance and inserting new objects.
Nike's NFT project RTFKT will gradually cease operations
Nike's NFT project RTFKT officially announced this morning that it plans to gradually terminate operations. According to the statement:
All web3 services will be shut down by the end of January 2025; an updated website will be launched, showcasing RTFKT’s groundbreaking work; and in December the last innovative project will be released: MNLTH X, including the BLADE DROP series.
Magic Eden co-founder and CEO Jack Lu announced on social media X that the ME token airdrop qualification and allocation inquiry will be open on December 4, and the token generation event (TGE) is scheduled for December 10. In addition, the Magic Summit conference will be held on December 17.
Project News
According to Cointelegraph, blockchain data shows that XRP Ledger has reduced the basic reserve requirement from 10 XRP to just 1 XRP on December 3. This allows new users to recharge their wallets with less cryptocurrency, which may lower the threshold for user adoption. At the same time, this also enables users to spend part of the XRP that they originally had to hold as a reserve. The reserve change occurred at 6:45 am Beijing time today. The news was announced on the X platform by the operator of the XRP validator under the pseudonym Vet. At the same time, the owner reserve has also been reduced from 2 XRP to 0.2 XRP. This means that users only need to keep 0.2 XRP for each object held in their account. According to the XRP Ledger's documents, objects can include NFTs, trust lines, signer lists, or owner directories. Some oracles are also counted as objects and require owner reserves.
Decentralized trading platform Hashflow announced that its token destruction proposal has been approved. From now on, the platform will use 50% of the protocol fees to repurchase and destroy HFT tokens. As the beginning of the plan, Hashflow has completed the destruction of more than 900,000 HFT tokens. The platform said it will continue to promote the token destruction plan in the future.
ECB releases latest progress report on digital euro project
Arthur Hayes: Be cautious with VC-backed projects with high FDV and low circulation
According to The Block, Sonic Labs announced that its Layer 1 mainnet has generated its first block and will be officially launched in the near future. The project has completed the S Token airdrop snapshot, and the token $S can be exchanged with Fantom's FTM at a 1:1 ratio. The Sonic mainnet aims to process 10,000 transactions per second with a confirmation time of 1 second, while introducing the Ethereum bridge function to utilize its liquidity resources. The project is expected to be launched as scheduled in early December.
Ethena Foundation provides millions of dollars in grants to Derive, sENA holders will receive 5% DRV
Coinbase Streamlines Fiat-to-Crypto Payments with Apple Pay Integration
US cryptocurrency exchange Coinbase has integrated Apple Pay into its fiat-to-crypto payment solution Coinbase Onramp (formerly known as Coinbase Pay). The feature is designed to simplify the conversion process from fiat to crypto for users.
Coinbase Onramp is a software development kit (SDK) and API collection that allows developers to embed fiat-to-cryptocurrency payment functionality in mobile apps or web pages. It has been widely used in wallet tools such as Ethereum's Metamask, Rainbow, Solana's Phantom, and Coinbase Wallet. The tool supports more than 60 currencies, provides lightweight KYC verification, and supports free USDC transfers. Apple Pay integration was tested and launched to some users before Thanksgiving and is now being gradually promoted.
Coinbase Adds Moo Deng (MOODENG) to its Listing Roadmap
According to the official announcement, Coinbase has included Moo Deng (MOODENG) in the coin listing roadmap. The Solana network (SPL token) contract address of Moo Deng (MOODENG) is ED5nyyWEzpPPiWimP8vYm7sD7TD3LAt3Q3gRTWHzPJBY.
It is reported that MOODENG is a Solana Meme coin inspired by the Thai internet celebrity hippopotamus "Moo Deng".
The fifth PANews PARTY AWARD annual selection is now open for registration
PANews PARTY AWARD 2025 officially opened the nomination collection on December 2. PARTY means PANews' Restropect of The Year. The event has been held for five consecutive years, attracting active participation from Web3 entrepreneurs and high-quality projects around the world. This year's selection will be themed "Becoming Mainstream", aiming to discover and commend those Web3 projects, teams and individuals who continue to build and strive to bring the industry into the mainstream vision.
This event will select 22 authoritative annual awards through data preliminary selection, public solicitation and online voting, including the Best Contribution Award of the Year, the Innovation Award of the Year, the Best DeFi of the Year, the Best RWA Project of the Year, the Best AI+Web3 Combination of the Year, the Best L1 of the Year, the Best L2 of the Year, the Most Popular MEME of the Year, the Most Potential Project of the Solana Ecosystem and the Most Influential Web3 Conference of the Year. For details of the event, please click the original link to visit the official website. All projects, communities and KOLs are welcome to sign up and participate.
According to CryptoSlate, Sora Ventures has launched a $150 million fund to promote Bitcoin-centric financial strategies for listed companies across Asia. The fund aims to replicate MicroStrategy's model, using Bitcoin as the main reserve asset to optimize financial strategies and enhance shareholder value. According to the announcement, the fund will target companies listed on major stock exchanges such as Japan, Hong Kong, Thailand, Taiwan, and South Korea. The first successful case of this strategy is that Metaplanet, a Tokyo Stock Exchange-listed company, worked with Sora Ventures to implement the MicroStrategy model.
Nano Labs plans to buy and hold $50 million worth of Bitcoin over the next five years
Crypto mining chip design company Nano Labs (Nasdaq: NA) announced its plan to buy and hold $50 million worth of Bitcoin over the next five years. Earlier in November, Nano Labs announced that it would accept Bitcoin payments.
AI company Genius Group increased its holdings of Bitcoin worth $1.8 million to 172 BTC
Microstrategy spends $1.5 billion to increase its holdings of 15,400 Bitcoins
Michael Saylor, co-founder and executive chairman of Microstrategy, said on the X platform that between November 25, 2024 and December 1, 2024, MicroStrategy had spent approximately $1.5 billion (at a price of approximately $95,976 per Bitcoin) to increase its holdings of 15,400 Bitcoins, achieving a quarterly total return (QTD) of 38.7% and an annual total return (YTD) of 63.3%. As of December 2, 2024, MicroStrategy held 402,100 Bitcoins, acquired at a price of approximately $58,263 per Bitcoin, worth approximately $23.4 billion.
Later in the day, MicroStrategy reportedly earned $1.48 billion in net proceeds from the sale of shares last week .
Grayscale Opens XRP Trust to Accredited Investors
Grayscale announced that it has now opened its XRP Trust to qualified investors, providing indirect investment opportunities in XRP, the native token of the XRP Ledger, a distributed network primarily used for cross-border payment processing.
BitGo launches retail platform to provide crypto asset trading, custody and staking services
According to The Block, crypto asset infrastructure company BitGo has officially launched a retail platform to provide regulated digital asset trading, staking, wallet and custody services to users around the world. The new platform is now online and provides eligible US users with the opportunity to win 1 Bitcoin.
Enron: No tokens have been launched yet
The US energy company Enron announced its restart, and the official website mentioned decentralized technology. The official website said that some important matters will be announced in the next 8 days, and no tokens have been launched yet.
Coinbase CEO Brian Armstrong said on social media that the U.S. government's sale of Bitcoin was a "major strategic mistake" and believed that it should not sell its Bitcoin holdings. In addition, he revealed that about 25% of Coinbase's net asset value (excluding debt) is cryptocurrency, of which about half is Bitcoin, accounting for 12.5% of the total net asset value.
He pointed out that since most of Coinbase's liabilities are still denominated in US dollars, it is currently difficult to bear higher Bitcoin allocation risks, but he is open to increasing the holding ratio and welcomes community discussions on this.
Affected by the "Trump market", the Korean crypto market continues to heat up, and people born in the 1950s and 1960s have invested part of their retirement funds in crypto assets. According to data, the current deposit balance of major banks in South Korea has decreased by 27 trillion won in 5 months.
At the same time, the number of user accounts over 60 years old on major domestic exchanges Upbit and Bithumb increased by 30.4% from the end of 2021, and the average investment amount reached 8.72 million won, the highest among all age groups. The price of Bitcoin rose by 40% in a single month, and the increase in XRP was more than 5 times. In addition, the postponement of crypto income tax for two years further stimulated the investment boom.
Binance will remove leveraged trading pairs such as BAND/BTC and AVA/BTC
Binance announced that it will remove the following leveraged trading pairs at 14:00 on December 11, 2024 (GMT+8): • Full leverage: BAND/BTC, GTC/BTC • Isolated leverage: AVA/BTC, BAND/BTC, GTC/BTC, HIGH/BTC, PERP/BTC, STPT/BTC
Bitcoin mining company MARA Holdings announced that its zero-interest convertible senior notes issuance has increased to $850 million, with an additional $150 million purchase option. The notes will mature in 2031, and the funds raised will be mainly used to repurchase some existing notes due in 2026, as well as to purchase additional Bitcoin and general corporate purposes. According to the announcement, the initial conversion price of this issuance is $34.5831 per share, a 40% premium over MARA's current share price.
Financing News
Multi-asset investment platform Public completes $135 million D-2 round of financing, led by Accel
Public, a multi-asset investment platform, announced the completion of a $135 million Series D-2 financing round, of which $105 million was equity financing and $30 million was debt financing, led by Accel. Since its launch in 2019, Public has grown from a "social stock trading app" to a comprehensive investment platform supporting five major asset classes (including cryptocurrencies), with a profitable core brokerage business and billions of dollars in deposits per year. Its AI assistant Alpha is used by more than 90% of users, facilitating a quarter of interactions to complete transactions within 3 hours, and the average user profit has increased for three consecutive years. The company plans to expand to more asset classes and AI functions.
Important data
CoinShares: Digital asset investment products saw a net inflow of $270 million last week
According to the latest weekly data from CoinShares, total inflows into digital asset investment products reached $270 million last week, while total inflows so far this year set a new record of $37.3 billion.
Bitcoin saw an outflow of $457 million, the first significant outflow since early September this year, which may be profit-taking after Bitcoin tested the psychological barrier of $100,000. Ethereum saw an inflow of $634 million and has experienced a sharp shift in market sentiment, with inflows reaching $2.2 billion so far this year.
Bitcoin spot ETF had a net inflow of US$354 million yesterday, with a net asset ratio of 5.49%
According to Arkham data, the U.S. government transferred 19,800 Silk Road-related bitcoins worth nearly $2 billion (via an intermediate address) to Coinbase Prime, which may suggest that it has sold or is preparing to sell these seized assets.
Previously, the Department of Justice said it had seized more than 50,000 bitcoins in 2022 and planned to sell them in batches. Earlier this year, the U.S. Marshals Service partnered with Coinbase Prime to handle the custody and trading of large digital assets. The U.S. government currently still holds about $18 billion worth of seized crypto assets.
Crypto venture capital firm Variant transfers 1.2322 million UNI to Coinbase Prime
According to on-chain analyst Ember, crypto venture capital firm Variant transferred 1.2322 million UNI (worth $17.14 million) to Coinbase Prime 10 hours ago. In the past 26 days, the firm has transferred a total of 3.6966 million UNI to Coinbase Prime, with a total value of approximately $44.57 million, and an average transfer price of $12.05.
As one of the early investors of Uniswap, Variant received an investment allocation of 1.6 million UNI in September 2020, and withdrew 774,000 UNI from FTX at a price of US$5.65 in May 2022.
XRP market value exceeds $150 billion, setting a new record
Bitcoin mining difficulty increased by 1.59% to 103.92 T, setting a new record high
Pump.fun deposited another 100,000 SOL to Kraken, worth $22.46 million
According to OnchainLens monitoring, Pump.fun deposited 100,000 SOL worth $22.46 million to Kraken last night. They sent a total of 898,869 SOL worth $176.46 million to Kraken. Pump.fun earned a total of 1,573,099 SOL worth $354 million.
According to the latest report from 10X Research, South Korea's cryptocurrency retail trading volume reached $18 billion in the past 24 hours, the second highest level of the year, exceeding the local stock market's $14 billion trading volume. Among them, XRP led the way with a trading volume of $6.3 billion, followed by Dogecoin ($1.6 billion), XLM ($1.3 billion), ENS ($900 million), HBAR ($800 million) and Shiba Inu ($600 million).
Tether minted 1 billion USDT on Ethereum this morning
According to Whale Alert data monitoring, Tether Treasury minted 1 billion new USDT on the Ethereum blockchain at 4:57 this morning.
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