Daily | Musk published a tweet containing frog elements this morning; at least 60 billionaires around the world have invested in Bitcoin; ten regions in Russia have completely banned cryptocurrency mining starting today
Reprinted from chaincatcher
01/01/2025·4MOrganized by: Luan Peng, ChainCatcher
Important information:
- Musk tweeted this morning containing frog elements
- Cryptocurrency market capitalization surpasses U.S. high-yield bond market in Q4 2024
- OKX plans to conduct TON network upgrade and maintenance on January 2 and suspend deposits and withdrawals.
- Shanghai police busted a virtual currency fraud gang that earned high fees through fake trading platforms
- Data: At least 60 billionaires around the world have invested in Bitcoin
- The IRS issues temporary cryptocurrency tax relief measures that will benefit CeFi exchange users in 2025
- Syria proposes legalizing Bitcoin to boost economic recovery
- Ten regions in Russia ban cryptocurrency mining from today
"What important events happened in the past 24 hours?"
Musk tweeted this morning containing frog elements
Musk once again tweeted "Brothers in Arms" at 5:00 Beijing time, along with a pepe picture of a Roman general.
It is reported that Musk is currently playing the hardcore mode of "Path of Exile 2". The current level is 85. The core mechanism of the hardcore mode is permanent death, that is, once the character dies, all progress and equipment will be lost. Delete permanently. This mechanism provides players with an extremely high level of challenge and sense of achievement.
Cryptocurrency market capitalization surpasses U.S. high-yield bond market in Q4 2024
According to a report by Grayscale Research, in the last quarter of 2024, the cryptocurrency market value soared from US$1 trillion to more than US$3 trillion, exceeding the total value of the global inflation-linked bond market. At some points, the cryptocurrency market capitalization was even twice that of the U.S. high-yield bond market.
According to the official announcement, OKX will upgrade and maintain the TON network at 10:00 on January 2, 2025 (UTC+8). During the upgrade and maintenance period, deposits and withdrawals will be suspended. It is expected to be:
- At 18:00 on January 3 (UTC+8), the upgrade and maintenance will be completed and currency withdrawal will be opened;
- At 18:00 on January 3 (UTC+8), the upgrade and maintenance will be completed and deposits will be opened.
Recently, after careful investigation, Shanghai Yangpu police successfully detected a virtual currency contract trading fraud case and destroyed a 16-person fraud gang involving more than 300,000 yuan.
After interrogation, the suspects all confessed to their crimes. Based on the preliminary investigation, the task force fully grasped the criminal gang's modus operandi, that is, three people, including Yang and Yu, sneaked into various virtual currency investment group chats as "investment masters" and recruited people with investment intentions in the group. Drain traffic to the fake trading platform established. Taking advantage of the victim's mentality of "making quick money", they can earn high fees by inducing them to conduct multiple transactions. Subsequently, by inducing the victim to increase the "profit and loss ratio" of the investment, making him mistakenly believe that the investment failed due to his misjudgment of the market, the victim was defrauded of money.
Currently, 16 criminal suspects including Yang and Yu have been subject to criminal compulsory measures by Yangpu police in accordance with the law on suspicion of fraud, and the case is under further investigation. (Xinmin Evening News)
Data: At least 60 billionaires around the world have invested in Bitcoin
HODL15Capital posted that at least 60 billionaires around the world have invested in Bitcoin, indicating that the confidence of the world's richest people is growing.
According to Bitcoin.com, the U.S. Internal Revenue Service (IRS) has issued a temporary relief measure that is expected to benefit CeFi exchange users in 2025. This relief measure addresses concerns raised by the final version of Section 6045 of the custodial broker regulations, which will take effect on January 1, 2025, requiring a first-in, first-out (FIFO) accounting method for digital assets unless the highest Preferred methods like HIFO or Spec ID.
Shehan Chandrasekera, head of tax strategy at Cointracker, explained the issue, emphasizing that “almost all CeFi brokers are not ready to support Spec ID as of January 1, 2025.” This lack of readiness will force many cryptocurrency holders to adopt FIFO accounting by default , thereby potentially triggering a higher tax liability during the asset sale. He describes: “In a bull market environment, this could be disastrous for many taxpayers because you would inadvertently sell the earliest assets purchased first (which tend to have the lowest cost basis) while unknowingly maximizing Your capital gains.”
The IRS's temporary relief allows taxpayers to continue using their own records or tax software to identify specific units being sold. The exemption period only applies to CeFi transactions from January 1, 2025 to December 31, 2025. After this date, taxpayers will need to formally select an accounting method with their broker. Chandrasekera also emphasized the importance of syncing tax software with broker setup.
Syria proposes legalizing Bitcoin to boost economic recovery
According to Cryptopolitan, the Syrian Economic Research Center has proposed a plan to urge the transitional government to adopt Bitcoin and other digital assets to combat inflation, stabilize the economy, and attract global investment. The plan comes as the country faces huge reconstruction challenges after decades of war and financial disaster. The proposal focuses on Bitcoin as a lifeline for Syrian citizens and its crumbling financial system. It proposes the creation of a regulatory framework to legalize the use of Bitcoin for trading, mining and financial transactions.
Ten regions in Russia ban cryptocurrency mining from today
Ten regions in Russia imposed a complete ban on cryptocurrency mining on January 1, and three other regions implemented partial bans. The government decree, passed on December 23, stipulates a complete ban on mining from January 2025 to March 2031, and in three other regions during each heating season (from November 15 to March 2031) until 2031. On January 15, 2025, the ban will partially restrict mining (except for the first year starting from January 1, 2025).
Russian Deputy Prime Minister Alexander Novak said at the end of December that the number of regions banning cryptocurrency mining may increase if requests from governors are received. Authorities in the Republic of Khakassia have asked the Energy Ministry to restrict mining activities in the region.
Vitalik challenges Musk over free speech,'banhammer' threats
Ethereum co-founder Vitalik Buterin has called on Musk to "cool down" as his platform sparks new free speech controversy amid a heated debate over foreign tech workers.
Musk publicly supported the hiring of foreign skilled workers by top U.S. companies, a move that sparked outrage among conservatives in X who believe U.S. employment conditions are increasingly disadvantageous for U.S. citizens.
Vitalik said that while he admired Musk's willingness to fight for free speech, he asked Musk to "cool down," tone down the "tone of discourse," and stop using "social media banhammers" to close X's account.
Vitalik said: “Respecting free speech is easy when we agree with the speech, and difficult when we think the speech is terrible. But the reasons for respecting free speech never change: today a ban is in the hands of one party, tomorrow it may be in the control of another. "
According to statistics from the Web3 asset data platform RootData, the total financing amount of the encryption market in 2024 will reach US$10.112 billion, a year-on-year increase of 8.3% from US$9.337 billion in 2023. A total of 1,548 financing events occurred throughout the year , and 102 merger and acquisition events, an increase of 34.2% from 76 events in 2023 , and a record high at the same time . The average financing amount was US$9.1352 million, and the median financing amount was US$4.1 million. In terms of financing scale, the largest number of projects were in the US$1-3 million range, reaching 408, followed by 244 projects in the US$5-10 million range and 219 projects in the US$3-5 million range; in terms of financing rounds, seed rounds accounted for Dominant position, up to 426 cases.
From the perspective of track distribution, the infrastructure field is the most favored by capital, with total financing reaching US$3.995 billion in 2024, an increase of 18.2% from US$3.379 billion in 2023; the DeFi track ranks second with US$1.493 billion, compared with US$3.379 billion in 2023 The US$759 million in 2023 has almost doubled; the financing amount of the game track has increased from US$669 million in 2023 to US$813 million. It is worth noting that the amount of financing in the CeFi field dropped from US$990 million in 2023 to US$679 million in 2024. The largest investment and financing event of the year was Stripe’s US$1.1 billion acquisition of the stablecoin platform Bridge, followed by the US$413 million financing of Bitcoin mining company Iris Energy, and the US$250 million OTC financing completed by Avalanche.
Judging from the activity of investment institutions, Animoca Brands topped the list with 95 investments, followed by OKX Ventures with 72 investments and MH Ventures with 56 investments. In terms of lead investment, Polychain was the most active, completing 30 lead investments throughout the year, Hack VC ranked second with 24 times, and Lemniscap and Animoca Brands both completed 17 lead investments and ranked third.
Usual stated on the social platform that at 5 pm Beijing time yesterday, the Usual protocol experienced a large-scale USD0 sell-off triggered by a whale trading in the secondary market. The incident raised questions about USD0's ability to anchor to $1. USD0 briefly fell to $0.99 before regaining its $1 anchor within seconds, and although there was an initial deviation of a few basis points (bps) due to the ongoing sell-off, the anchor was fully restored hours later.
USD0 can always redeem its underlying mortgage assets at a 1:1 ratio, thus ensuring the solvency of the Usual protocol. Currently, all USD0 is redeemable on a T+0 basis and is backed by high daily liquidity short-term money market instruments.
Anchoring has returned to normal. This incident was the first major stress test of USD0’s anchoring ability. The redemption volume within a few hours even exceeded GHO’s entire TVL (Total Locked Volume), but the protocol still operated as usual. We will continue to optimize processes and improve efficiency, and there are many exciting updates to be released soon.
Andrew Kang: 2025 will be the year of the AI agent
Andrew Kang, a partner at Mechanism Capital, posted on
“What are some great articles worth reading in the past 24 hours?”
The MicroStrategy model has been recognized by the market, and most Bitcoin mining companies have taken advantage of the hot market to issue convertible bonds to raise funds.
2024 Conclusion and 2025 Password of 50 Encrypted KOLs
The New Year is just around the corner.
The crypto world in 2024 is experiencing climaxes one after another, with Bitcoin reaching new highs and a new narrative melody sweeping the industry. Some people have seized the opportunity to make wealth and climbed to the top, while others have led the trend and played with the strings of the future.
An obvious trend is that in the ever-changing pace of the industry and the rise of Meme, crypto KOLs are becoming more and more important in the process of discovering new value targets, smoothing out poor information dissemination, and supervising industry issues.
Therefore, on the occasion of the New Year, Odaily Planet Daily specially invited 50 leading KOLs in the Crypto field to review the experience of 2024, look forward to the opportunities in 2025, send messages, and also wish readers and friends to accurately capture Alpha and financial resources in the new year. Go ahead, all the best!
Grayscale Q1 2025 Selection: 20 Tokens with High Growth Potential
· The crypto market surged in Q4 2024, with the FTSE/Grayscale Crypto Sectors index showing strong market performance. The gains largely reflected the market's positive reaction to the U.S. election results.
· Competition in the field of smart contract platforms remains fierce. The price performance of Ethereum, the leader in the field, has lagged Solana, the second-largest competitor by market capitalization, and investors are increasingly paying attention to other Layer 1 networks such as Sui and The Open Network (TON).
· Grayscale Research updated the Top 20 token list. This list represents a diverse range of assets in the cryptocurrency industry that may have high potential in the coming quarter. New assets added in Q1 of 2025 include HYPE, ENA, VIRTUAL, JUP, JTO and GRASS. All assets in the Top 20 list have high price volatility and should be considered high risk.
MegaETH Ecosystem Overview: What projects does MegaMafia cover?
MegaMafia currently covers 13 projects, and there are 15 projects that are built on MegaETH or plan to integrate MegaETH but are not yet part of MegaMafia.
From a data perspective, which public chains will truly rise in 2024? Which public chains’ loss of power may not be due to underestimation, but real decline?
Meme Hot List
According to the Meme token tracking and analysis platform GMGN market data, as of 19:30 on January 1:
The top five popular Ethereum tokens in the past 24 hours are: KEKIUS , TRUMPIUS , BABYKEKIUS , RAI , PEPE
The top five popular Solana tokens in the past 24h are: DAD, EM , SHIKOKU , KEKIUS , TRUMPUS
The top five popular tokens in the past 24h Base are: VIRTUAL , AKUMA , BBRETT , MOXIE , Evo
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