An ally of President-elect Donald Trump in the U.S. Senate has developed a plan to fill Trump's proposed strategic Bitcoin inventory without increasing the government deficit, namely by selling some of the Federal Reserve's gold. Wyoming Republican Senator Cynthia Lummis plans to push a bill when the new Congress takes office next year. The bill requires the United States to purchase 1 million Bitcoins, nearly 5% of the outstanding tokens. At current market prices, the purchase will cost about $90 billion, although the amount required for the purchase may increase if the bill is passed and investors act before the government purchases.

The Hong Kong Stock Exchange's virtual asset index has been launched. The current Hong Kong Stock Exchange Bitcoin Reference Index is 87,984.14, the Hong Kong Stock Exchange Bitcoin Reference Exchange Rate Index is 89,996.74, the Hong Kong Stock Exchange Ethereum Reference Index is 3,063.82, and the Hong Kong Stock Exchange Ethereum Reference Exchange Rate Index is 3,198.29.

The 13F filing submitted by Goldman Sachs revealed that as of September 30, its Bitcoin spot ETF holdings were worth more than $710 million. These included: $461 million in IBIT (12,769,510 shares, an increase of 83% from the last filing in August); $95.5 million in FBTC (1,720,291 shares, an increase of 13% from the last filing); $71.8 million in GBTC (1,423,069 shares, an increase of 116% from the last filing); $59.7 million in BTCO (940,443 shares, the same as the last filing); and $22.5 million in BITB (650,961 shares, an increase of 156% from the last filing).

Asset management company Bitwise announced that NYSE Arca has filed Form 19b-4 to list the Bitwise 10 Crypto Index Fund (BITW) as an ETP. The filing is the latest step in Bitwise's ongoing efforts to convert the $1.3 billion publicly traded trust into an ETP structure. BITW's shares are currently trading on the OTCQX Best Market.

Fed Chairman Powell delivered a speech on the economic outlook and monetary policy path in the early hours of Friday morning Beijing time. He said that the U.S. economy has recovered well, the labor market is solid, inflation has fallen from its peak and is moving towards the 2% target, so there is no urgent need to cut interest rates.

Tether announced the launch of Hadron by Tether, an asset tokenization platform that simplifies the process of converting various assets into digital tokens. The platform allows users to easily tokenize stocks, bonds, commodities, funds, and reward points. This opens up new opportunities for individuals, businesses, and others to raise funds using tokenized collateral. The platform provides a range of tools, including asset issuance and destruction, KYC compliance, blockchain reporting, capital market management, and regulatory guidance.

According to Fox Business reporter Eleanor Terrett, 18 states in the United States have filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) and its commissioners, accusing them of unconstitutional over-intervention and unfair "persecution" of the crypto industry under the leadership of SEC Chairman Gary Gensler. The lawsuit signed by 18 Republican state attorneys general in the United States details how the agency has "severe government over-intervention" in the $3 trillion industry through law enforcement actions and infringed on the power of states to regulate their economies. 18 Republican state attorneys general in the United States asked the court to declare that "digital asset transactions are not investment contracts" and to issue an order to prevent the SEC from bringing charges in the future against "digital asset platforms that fail to register as securities exchanges, dealers, brokers or clearing agencies." According to the complaint, many states have already developed their own regulatory frameworks for the crypto industry and encouraged industry development.

The Pennsylvania House of Representatives today introduced proposed legislation that would allow the state to include Bitcoin (BTC) on its balance sheet as a reserve asset.

Applicants are required to work more than 80 hours a week and focus on unpretentious cost reduction. Qualified applicants can submit their resumes via private message, and the top 1% of outstanding applicants will be personally reviewed by Elon Musk and Vivek Ramaswamy.

SEC Chairman Gary Gensler reiterated that the agency should focus on “rules of the road” applicable to cryptocurrency sales and intermediaries, such as brokers and exchanges, to support proper disclosure.