Strive, a Trump-related asset management company, applies for a "Bitcoin bond" ETF
According to Cointelegraph, according to documents filed on December 26, Strive, an asset management company founded by Vivek Ramaswamy, has applied to US regulators to list an ETF that will invest in Bitcoin convertible bonds issued by MicroStrategy and other companies. These bonds are called "Bitcoin bonds" and are convertible securities issued by MicroStrategy or other companies that plan to use the proceeds mainly to purchase Bitcoin. The Strive Bitcoin Bond ETF will be actively managed to access these "Bitcoin bonds" directly or through financial derivatives such as swaps and options. Although Strive has not yet clarified the management fees that investors need to pay, the fees of actively managed funds are generally higher than those of passive index funds. Vivek Ramaswamy, an outspoken supporter of US President-elect Trump, founded Strive Asset Management in 2022. In November this year, Trump announced that Ramaswamy and Tesla founder Musk would lead the Department of Government Efficiency (DOGE), a private initiative aimed at cutting wasteful government spending. Earlier in November, it was reported that asset management company Strive established a wealth management department to include Bitcoin in standard investment portfolios.
Bitwise applies to the US SEC for a Bitcoin Standard ETF
According to Cointelegraph, Bitwise has applied to the U.S. Securities and Exchange Commission (SEC) for the Bitcoin Standard Corporations ETF. The fund aims to invest in stocks of companies that adopt the Bitcoin standard, with at least 1,000 BTC in the company's funds.
Binance Alpha adds 5 new projects: EVAN, BITCOIN, VISTA, AVAAI, and AITECH
The Binance Alpha page shows that a new batch of 5 projects have been added, namely EVAN, BITCOIN, VISTA, AVAAI and AITECH. The introduction is as follows. As of now, there are 43 Binance Alpha projects.
According to The Block, Siqi Chen, CEO and CFO of the startup financial platform Runway, posted a message yesterday, calling on everyone to donate to support the Ccancer Laboratory at the University of Colorado. The laboratory is the only institution in North America that studies childhood craniopharyngioma, and Siqi Chen's young daughter Mira is suffering from this disease. Thanks to the forwarding and promotion of many well-known X users, including Linda Yaccarino, CEO of the X platform, as of the time of writing this article, Siqi Chen's fundraising on GoFundMe has exceeded $230,000.
Unexpectedly, a user of Pump.Fun created a meme coin called Mira, which once had a market value of $80 million. Fortunately, X user Waddles quickly purchased and gifted Siqi Chen 50% of the coin after it was issued, making his holdings instantly worth millions of dollars. However, when Siqi Chen announced plans to gradually sell off these Mira coins and donate all the proceeds to the laboratory, the market value of the coin began to fall. Siqi Chen disclosed his selling plan on the X platform: "Starting at around 3 am UTC on December 27, I will sell $1,000 worth of Mira coins every 10 minutes, without interruption. If the plan changes, I will notify you 24 hours in advance."
He acknowledged that some traders may have profited without intending to donate, but overall he sees the event as having a positive impact. "Our original goal was to raise $200,000, but we will end up raising at least $1 million for rare disease research. This is undoubtedly a win for the world," he revealed. As of this writing, the market value of Mira Coin has fallen to around $19 million. Meanwhile, a "kitkat" meme coin named after Mira's dog also briefly reached a market value of $3 million, but has now fallen to around $150,000. "Every penny we get from kitkat/meme coins, including LP fees, after taxes, will go directly to rare disease research," said Siqi Chen.
According to Cointelegraph, according to a report released by Kairos Research, a crypto research organization, on December 26: In November and December, Jito, the Solana ecosystem liquidity pledge protocol, earned more than $100 million in monthly income through priority fees and tips. According to Kairos, in 2024, Jito's validators' tip income increased by an average of 32% per month, with monthly income peaking at about $210 million in November. Jito's growing tip income reflects the growing popularity of the Solana network. At the same time, it also shows that the income that validators receive by prioritizing certain transactions (rather than others) is increasing, a practice known as maximum extractable value (MEV). In 2024, Solana's validators earned more income from MEV than Ethereum for the first time. At the same time, according to Dune Analytics, transaction fees on the Solana network increased from about 60,000 Solana tokens per day in January to almost 150,000 in October. As of Dec. 26, more than 93% of Solana validators use Jito’s software to maximize their revenue from block construction, according to Jito’s developer, Jito Labs.
BlackRock doubles down on IBIT through its Global Allocation Fund
According to Cryptoslate, BlackRock's filing with the U.S. Securities and Exchange Commission (SEC) shows that as of October 31, its Global Allocation Fund held 430,770 shares of Bitcoin spot ETF IBIT, with a total value of more than $17 million. This is an increase of 117% compared to the 198,874 shares reported on July 31, and a user named X named MacroScope pointed out this significant increase. In addition, compared with the 43,000 shares registered in the first quarter, the number of IBIT shares currently reported is more than 10 times higher. The Global Allocation Fund is a diversified investment product of BlackRock, covering short-term securities such as stocks, bonds, money market securities in the U.S. and foreign markets, and its investment portfolio is adjusted regularly. Although BlackRock has doubled its investment in its Bitcoin products, IBIT shares account for only 0.1% of the total size of the Global Allocation Fund of $16.5 billion.
ai16z will announce new token economics proposal around January 1st
Eliza team members revealed in response to PANews questions at the community exchange meeting that the project team plans to release two important announcements. First, the project team will officially announce the list of all partners to improve the transparency of the project and help the community more clearly understand the partnerships and their specific scope. Secondly, regarding token economics, the team will announce a new token economics proposal around January 1. The proposal was jointly designed by professionals from multiple teams and will include LP matching mechanisms, DeFi function integration, and other content. In addition, the project team also revealed that they have acquired a Launchpad company, which will be used for official agency releases in the future.
Marathon Digital's Bitcoin holdings have increased to 44,394
Marathon Digital just tweeted a review of 2024, saying it has transformed itself from a Bitcoin mining company to a global leader in energy and infrastructure. Important milestones were achieved throughout the year, including a computing power of 50 EH/s, a 3-fold increase in capacity to 2GW, 7 new mining farms, an increase in the proportion of self-operated mining farms to 65%, and an increase in Bitcoin holdings to 44,394 through $2 billion of 0% convertible bonds. In addition, the company has implemented a zero-cost energy strategy, acquiring wind farms, using oil field waste gas for energy, and recovering heat in Finland to heat 80,000 households. At the same time, it launched a two-phase immersion cooling system, a multi-chain Layer 2 network, and a Bitcoin transaction direct submission tool Slipstream, and achieved the industry's highest return on capital, and the team size expanded from 56 to 152 people.
KULR spent $21 million to buy about 217 Bitcoins
According to the announcement of KULR Technology Group, KULR, a US-listed company, has completed the purchase of Bitcoin worth US$21 million, with a total of 217.18 Bitcoins purchased at an average price of US$96,556.53 per Bitcoin. The purchase is part of its "Bitcoin Treasury Strategy", which aims to allocate up to 90% of the remaining cash to Bitcoin. KULR chose the Coinbase Prime platform to provide custody, USDC and self-custody wallet services. This is the first batch of transactions that the company plans to continue to purchase Bitcoin in the future. KULR Technology Group Inc. (NYSE American: KULR) is said to use its internal battery design expertise, comprehensive battery and battery testing kits, and battery manufacturing and production capabilities to provide cutting-edge energy storage solutions for space, aerospace and defense.
Opinion: MicroStrategy's share issuance plan cannot stop Bitcoin's decline
According to Jinshi, despite the plan of MicroStrategy, which hoards Bitcoin, to issue shares that will enable it to buy more Bitcoin, Bitcoin still fell today, falling about 3% to $95,420 during the session. Some traders warned that the market could become volatile in the coming day due to the large expiration of open positions in Bitcoin and Ethereum derivatives. On Friday, a record $43 billion in open contracts will expire on the derivatives exchange Deribit, including $13.95 billion in Bitcoin options and $3.77 billion in Ethereum options.
According to a statement released by the Malaysian Communications and Multimedia Commission (MCMC), Telegram and WeChat have begun the license application process required to operate in Malaysia. MCMC recognized the two companies and urged other service providers to complete the application process by December 31, 2024 to comply with relevant regulations that will take effect on January 1, 2025. The new regulations are aimed at improving network security, protecting users and combating harmful content. Service providers who fail to comply will face regulatory issues, and MCMC said it will assist qualified providers to successfully complete the application process.
1.69 trillion BONKs have been destroyed, worth more than $50 million
According to SolanaFloor detection, Solana ecosystem Meme coin BONK has destroyed 1.69 trillion BONK (worth approximately US$52.28 million) from its total supply after the proposal was approved by Bonk DAO.
Bitcoin ETF has a net outflow of 1,620 BTC today, while Ethereum ETF has a net inflow of 1,000 ETH
According to Lookonchain data, on December 26, the Bitcoin ETF had a net outflow of 1,620 BTC (about $155.18 million), of which Fidelity had an outflow of 852 BTC (about $81.6 million), and currently holds 202,342 BTC (about $19.38 billion). The Ethereum ETF had a net inflow of 1,000 ETH (about $3.35 million), with Fidelity contributing all the inflows, and currently holds 435,000 ETH (about $1.45 billion).
