Trump Appoints Bo Hines as Executive Director of Presidential Digital Asset Advisory Council
According to The Block, US President-elect Donald Trump announced that he has appointed Bo Hines as the executive director of his "Presidential Digital Asset Advisory Committee" to lead his "Crypto Committee." Bo Hines was a college football player who failed to be elected to the House of Representatives in 2022. Trump wrote: "In his new position, Bo Hines will work with David Sacks to promote innovation and growth in the digital asset field while ensuring that industry leaders have the resources they need to succeed."
According to CCTV News, US President-elect Trump announced the nomination of Sriram Krishnan as the next senior policy advisor for artificial intelligence in the White House Office of Science and Technology Policy. Trump said in a statement that Sriram Krishnan will work closely with David Sachs to focus on ensuring the continued leadership of the United States in the field of artificial intelligence. Earlier in November, a16z general partner Sriram Krishnan announced that he would leave at the end of the year.
Michael Saylor, founder of MicroStrategy, has released information about Bitcoin Tracker for the seventh consecutive week, but this time is different from before. He said: "The orange dots on the website are motivating." (Note: Every time MicroStrategy buys BTC, the website will mark a green dot on the corresponding date, and the BTC price trend line is blue. This time, the previous green dots on the website have become orange dots.) According to previous rules, MicroStrategy always increases its holdings of Bitcoin the day after the relevant news is released.
Securitize proposes to add BlackRock’s BUIDL token as backing for stablecoin Frax USD
Decentralized stablecoin protocol Frax Finance is considering integrating BlackRock's BUIDL token as a reserve asset in its upcoming relaunched Frax USD stablecoin, but the decision is subject to approval by the governance process. Securitize Markets has written a governance proposal for this, pointing out that this move will not only improve the practicality, security and convenience of Frax USD, but also reduce counterparty risk of reserves. The BUIDL token currently manages over $530 million in assets, mainly short-term U.S. Treasuries. Although the proposal has not yet been voted on, initial feedback from members of the Frax Finance decentralized autonomous organization (DAO) has been generally positive.
Meanwhile, Frax’s core team is planning to rename its core stablecoin to Frax USD (frxUSD) as described in another governance proposal, and to launch Staked Frax USD (sfrxUSD) as a yield-generating counterpart. If the partnership with Paxos is successful, frxUSD will be directly convertible to fiat currency and may benefit from Frax Finance’s efforts to gain access to the U.S. Federal Reserve’s master account. The launch of the stablecoin will also be accompanied by a new minting-redemption system, where entities will be able to obtain minting-redemption rights to frxUSD if governance allows their assets to back frxUSD.
Competing tokenized fund platform Superstate has also made two governance proposals suggesting that Frax adopt its USTB Treasury and USCC crypto arbitrage funds as stablecoin backing. Superstate calls on Frax to allocate up to $20 million to its USCC fund and up to $100 million to the USTB fund.
Amazon founder Jeff Bezos has attracted widespread attention for his firm denial of plans to hold a $600 million wedding with his fiancée Lauren Sanchez in Aspen, Colorado, Bitcoin.com reported. He made it clear that the rumors were pure fiction. In response, a number of billionaires, including Tesla founder Musk, expressed their support for Bezos. Musk even jokingly wished Bezos a grand wedding in the future, while Pershing Square CEO Bill Ackman directly refuted the rumors of a $600 million wedding, calling it "unbelievable." However, as everyone was discussing the hot topic, MicroStrategy founder Michael Saylor cleverly changed the subject. He quipped: "600 million dollars can buy a lot of Bitcoin." This development follows a proposal from Amazon shareholders to encourage the company to invest at least 5% of its assets in Bitcoin (BTC), which coincides with a similar proposal recently made to Microsoft. Saylor's remarks once again highlight the ongoing efforts to bring Bitcoin into mainstream financial discussions and use popular events to highlight its investment potential. While Bezos laughed off the wedding gossip, Saylor took the opportunity to turn the focus to Bitcoin’s broader prospects as an alternative asset.
Pump.fun denies Christmas airdrop rumors
In response to rumors in the community that Pump.fun will conduct an airdrop on Christmas, Pump.fun co-founder Alon clearly responded with "False" and denied the news.
Adam, a macro analyst at Greeks.live, posted on the X platform that this Wednesday is Christmas, and major exchanges in Europe and the United States are closed. Cryptocurrency funds usually flow out this week. Currently, ETFs are the main source of external funds for the crypto market. The pressure of capital outflow on the crypto market has increased significantly compared with previous years, and the market is risk-averse. Regarding the outlook for the crypto market, there has not been a sharp correction in this round of bull market. Now that funds are tight during the Christmas holiday, it is not ruled out that there will be a deleveraging before Trump takes office, and the market is risk-averse. Regarding the crypto interest rate market, nearly $12 billion of options have expired in the options market, accounting for more than 40% of the current total positions. Large investors and market makers are actively adjusting their positions. Paying more attention to the market can occasionally get good opportunities to pick up leaks. The volatility of Christmas this week is not expected to be large. The market is more betting on the market before and after Trump takes office at the end of January. It is still a good opportunity to buy options in the near future.
Binance co-founder CZ posted on the X platform that he has recently seen some people receiving cryptocurrencies by receiving private keys or hardware wallets. This is a bad idea because the giver still has access to these cryptocurrencies. The cryptocurrencies should be transferred to an address owned by oneself, or better yet, just let the giver send it to an address owned by oneself. It is a bad idea to let two people access the same key (or mnemonic). When these cryptocurrencies are moved (or stolen by hackers), it is almost impossible to prove who moved it (or was hacked).
Asher Genoot, CEO of Nasdaq-listed Bitcoin mining company Hut 8, wrote on the X platform to explain why the company chose to establish a strategic Bitcoin reserve. He said: "Fundamentals-first operating strategy + active capital management = excellent value creation potential." According to the screenshots shared by Asher Genoot, Hut 8's strategic Bitcoin reserves support the flywheel effect, combining capital and operating strategies to accelerate value creation across the business. Its capital strategy includes: allocating capital to projects with high ROLC, capturing BTC price increases and strengthening the balance sheet, increasing strategic BTC reserves through low-cost production and strategic market purchases, and focusing on providing shareholders with excellent long-term returns; its operating strategy includes: expanding scale and geographic scope, developing digital infrastructure platforms, expanding the scale of BTC mining and reducing BTC mining costs.
Binance co-founder CZ previously forwarded data on the X platform that the UAE holds $40 billion worth of Bitcoin released by a media outlet. Later, some people in the community questioned the data, believing that the relevant reports looked like AI-generated articles. In response, CZ said: "I also want to know how they came up with this exact number. The relevant data is difficult to collect and is higher than I expected, but then again, there are a lot of rich people there (UAE)."
Barclays: The Fed is expected to stop cutting interest rates after June next year until mid-2026
According to Jinshi, 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. In addition, even among those who did not adjust the official forecast, many now believe that the balance of inflation risks is tilted to the upside. Although Powell did not clearly answer the extent to which the Fed tends to look through tariff-related price level increases, we believe that it will be a challenge for the Fed to continue to cut interest rates when tariffs are expected to cause inflation to intensify in the second half of 2025, especially against the backdrop of rising inflation rates in recent years. We expect the Fed to pause rate cuts after June next year and resume rate cuts around mid-2026 after inflation pressures caused by tariffs dissipate. 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 MRS, ADA, ENA and other tokens have been unlocked in large amounts this week, including:
- Metars Genesis (MRS) will unlock approximately 10 million tokens at 8:00 a.m. Beijing time on December 23, accounting for 11.87% of the current circulation, with a value of approximately US$34.7 million;
- Cardano (ADA) will unlock approximately 18.53 million tokens at 8:00 a.m. Beijing time on December 26, accounting for 0.05% of the current circulation, with a value of approximately US$16.6 million;
- Ethena (ENA) will unlock approximately 12.86 million tokens at 3:00 pm Beijing time on December 25, accounting for 0.44% of the current circulation, with a value of approximately US$13.5 million;
- Murasaki (MURA) will unlock approximately 20 million tokens at 8:00 am Beijing time on December 23, accounting for 34.84% of the current circulation, with a value of approximately US$12.2 million;
- Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3:00 a.m. Beijing time on December 25, accounting for 0.61% of the current circulation, with a value of approximately US$4.9 million;
- MMX (MMX) will unlock approximately 1.67 million tokens at 8:00 am Beijing time on December 24, accounting for 1.11% of the current circulation, with a value of approximately US$1.8 million;
- Venom (VENOM) will unlock approximately 33.76 million tokens at 8:00 am on December 25th (Beijing time), accounting for 1.77% of the current circulation and worth approximately US$2 million.
- Coin98 (C98) will unlock approximately 16.53 million tokens at 7:00 pm Beijing time on December 23, accounting for 1.88% of the current circulation and worth approximately US$2.7 million;
- Hooked Protocol (HOOK) will unlock approximately 4.17 million tokens at 8:00 am Beijing time on December 25, accounting for 1.97% of the current circulation, with a value of approximately US$1.7 million;
- Karrat (KARRAT) will unlock approximately 11.25 million tokens at 8:00 am Beijing time on December 23, accounting for 6.45% of the current circulation and worth approximately US$4.4 million.
Arthur Hayes deposited 2 million ENA into Bybit, worth $2.06 million
According to OnchainLens, Arthur Hayes deposited 2 million ENA to Bybit 2 hours ago, worth $2.06 million, with an average price of $0.97. Previously, he had redeemed 9.01 million ENA and deposited $7 million of ENA to Binance.
According to Lookonchain monitoring, whales are accumulating LINK. In the past 48 hours, 9 newly created wallets withdrew 362,380 LINK from Binance, worth US$8.19 million.
According to CryptoSlam data, NFT sales on the Ethereum chain exceeded US$200 million in the past 7 days, currently reaching US$203,393,393. Among them, the NFT project Pudgy Penguins sales reached US$52,731,146, accounting for approximately 25.9% of NFT sales on the Ethereum chain, ranking first; LilPudgys sales reached US$18,645,354, ranking second; Azuki ranked third, with sales reaching US$17,339,164.
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