Daily | The central bank released the "China Financial Stability Report", mentioning Hong Kong's cryptocurrency compliance progress; Grayscale updated the list of the top 20 assets in the crypto industry in Q1 2025, adding HYPE, ENA, VIRTUAL
Reprinted from chaincatcher
12/30/2024·4MOrganized by: Luan Peng, ChainCatcher
Important information:
- Former U.S. President Jimmy Carter dies, and the U.S. will hold a state funeral
- Malaysian regulators ask Bybit to shut down local operations and stop advertising
- Venture capital investment in the encryption field will reach US$13.7 billion in 2024, a year-on-year increase of 28%
- Hong Kong Legislative Council Member Wu Jiezhuang: Bitcoin can be included in the assets of the Hong Kong Exchange Fund on a trial basis
- The central bank released the "China Financial Stability Report", mentioning Hong Kong's cryptocurrency compliance progress
- Hamster Kombat will build L2 blockchain on TON chain
- President of The ETF Store: The 8 top ETFs launched in 2024 are all related to cryptocurrency
- Bitcoin mining company Rhodium sells its Temple mine for $40.6 million, and co-CEO has resigned
"What important events happened in the past 24 hours?"
Former U.S. President Jimmy Carter dies, and the U.S. will hold a state funeral
According to China News Service, on December 29, 2024 local time, former US President Jimmy Carter passed away at the age of 100.
According to CNN, US President Biden said on the same day that in order to commemorate Carter, he would order a state funeral in Washington, DC. "To honor this great American, I will order a formal state funeral in Washington, D.C.," Biden said in a statement.
Malaysian regulators ask Bybit to shut down local operations and stop advertising
Bybit Technology Limited and its CEO Ben Zhou have been warned by the Securities Commission of Malaysia (SC) for operating a digital asset exchange (DAX) without registration.
The Securities Commission said in a statement that Bybit and Ben Zhou have been included on the regulator's investor warning list since July 2021.
The SC has directed Bybit to close all its websites and applications in Malaysia within 14 working days from December 11, 2024, and stop advertising to Malaysian investors. In addition, Bybit needs to terminate its Telegram support group for Malaysian users.
According to The Block Pro’s funding dashboard, venture investors invested approximately $13.7 billion in crypto and blockchain startups in 2024, a 28% year-over-year increase from $10.7 billion in 2023. However, this figure is still well below the peak levels of $33.3 billion in 2022 and $29 billion in 2021.
Dragonfly general partner Rob Hadick said that although Bitcoin has risen more than 150% so far this year, venture capital funding has failed to accelerate, mainly because the limited partner (LP) market remains relatively calm and many venture capital firms have not yet had enough Confidence to invest remaining capital before raising new funds.
Early-stage financing will dominate the market in 2024, with pre-seed transactions reaching a record high of 1,180, a year-on-year increase of 68%. Seed-stage funding totaled $3.4 billion, close to $3.8 billion in 2021. There were more than 175 Series A rounds of financing, raising US$2.8 billion, a year-on-year increase of 46%. Mid- to late-stage financing declined.
According to "Hong Kong Wen Wei Po", Wu Jiezhuang, a member of the Hong Kong Legislative Council and chairman of the Web3 Virtual Asset Development Subcommittee, said in an interview that Hong Kong should study how to maintain national financial security in the face of the United States disrupting Bitcoin and affecting the traditional asset market.
He suggested that Hong Kong should make good use of the advantages of one country, two systems, take the lead in incorporating Bitcoin into the assets of the Exchange Fund, and explore ways for the country to revitalize its holdings of Bitcoin. Regarding whether holding Bitcoin will help the SAR government fight the fiscal deficit, Wu Jiezhuang believes that although the government can use Bitcoin as a tool for asset appreciation, it will only have significant effects if it is held in large quantities. The current government fiscal deficit has exceeded 100 billion yuan. , then only holding a small amount will not be of much help in reducing the deficit. The value-preserving function of holding Bitcoin will be greater than the value-added.
The People's Bank of China recently released the "China Financial Stability Report (2024)", which mentioned global cryptocurrency regulatory developments, including Hong Kong's cryptocurrency compliance progress.
The report pointed out that in view of the spillover risks that crypto-assets may have on the stability of the financial system, regulatory authorities in various countries continue to increase the supervision of crypto-assets. Currently, 51 countries and regions around the world have introduced bans on crypto-assets, and some economies have adjusted original laws or re-legislated regulations.
Among them, Hong Kong, China, is actively exploring encryption asset license management, dividing virtual assets into two categories for supervision, namely securitized financial assets and non-securitized financial assets, and implementing a unique "dual license" system for virtual asset trading platform operators, which are applicable separately. Under the regulatory and licensing systems of the Securities and Futures Ordinance and the Anti-Money Laundering Ordinance, institutions engaged in virtual asset business must apply for a registration license from the relevant regulatory authorities before they can operate. At the same time, Hong Kong requires large financial institutions such as HSBC and Standard Chartered Bank to include crypto asset exchanges in daily customer supervision.
Hamster Kombat will build L2 blockchain on TON chain
Hamster Kombat announced on X that its DAO community has completed voting on the second proposal and decided to build the Hamster L2 blockchain on the TON blockchain.
Hamster Kombat said development work would begin immediately.
President of The ETF Store: The 8 top ETFs launched in 2024 are all related to cryptocurrency
Nate Geraci, President of The ETF Store, posted on Nearly 740 new ETFs.”
In addition, it also said that the spot Solana ETF will be approved in 2025.
Bitcoin mining company Rhodium sells its Temple mine for $40.6 million, and co-CEO has resigned
Nathan Nichols, co-chief executive of Bitcoin miner Rhodium Enterprises, has resigned as the company completed the sale of its Temple, Texas, mine for $40.6 million in cash.
Rhodium announced in an email to investors last week that Nichols had decided to resign, effective after the new year. Just weeks ago, Rhodium creditors filed a lawsuit against him and other co-founders, accusing them of fraud.
Rhodium also informed investors that it had previously secured $15 million of a $30 million debtor-in-possession financing from Galaxy Digital. After completing the sale of the Temple mine on December 18, the company used $16 million of the proceeds to fully repay Galaxy's debt, including fees and interest.
Musk: BlackRock’s stake in xAI is less than 0.5%, one of many investors
Musk said in X that BlackRock holds less than 0.5% of xAI and is one of many investors.
Ripple Chief Technology Officer David Schwartz clarified that he is not a billionaire. Although Ripple co-founder Chris Larsen's net worth soared to $54 billion in 2018 from holding 9 billion XRP, Schwartz chose to own 2% of Ripple's shares and salary instead of XRP.
In 2019, Forbes estimated Schwartz's wealth at about $90 million, and in 2021 he said his net worth was still well below $170 million. He also revealed that most personal wealth is tied to volatile assets, and while returns are impressive, risks remain. In addition to XRP, Schwartz also holds Bitcoin and several other altcoins.
Trader Eugene posted a December trading summary on his social platform and said: "The number of transactions this month reached 47, and the winning rate was 72%. This month's performance is mainly attributed to two points: position size control and reducing unnecessary errors. December Encountered the two largest retracements to date, with DOGE long orders losing $3.3 million (-7.5%) and SOL long orders losing $6.5 million (-10.2%). The main profits this month came from ETH and BTC. short-term trading, as well as the success of long orders on some small altcoins, including ENA, PEPE and other meme coins. In unclear trading conditions, it is necessary to reduce the size of short-term trading positions on high-volatility varieties.
To sum up 2024, I have achieved profitability in 11 months this year and maintained good stability in different time periods. I predict that January will be a good trading time for some high-quality altcoins, and I have also made plans for ETH and its related beta coins. "
Data shows that the delinquency rate of cryptocurrency account credit loans of South Korean bank K Bank has reached a record high. K Bank is the Korean won account affiliated bank of Upbit, South Korea's leading cryptocurrency exchange. Upbit accounts for more than 70% of the country's cryptocurrency trading volume.
K Bank is preparing for an IPO next year after two consecutive listing failures. It has been pointed out that over-reliance on Upbit and poor robustness indicators may be obstacles to its listing.
Data submitted to the Financial Supervisory Service today by the office of Kim Jae-seop, a member of the National Assembly Political Committee and a member of the People's Power Party, showed that as of the third quarter of this year, the default rate of personal credit loans of K Bank customers using cryptocurrency-related accounts was 1.28%. The outstanding balance is 47.4 billion won. Since the bank launched cryptocurrency-linked accounts in June 2020, delinquency rates and delinquent balances have continued to reach record highs.
It is reported that K Bank will restart its listing next month. The pre-listing review obtained in August this year will be valid until February next year, so the industry believes that K Bank may try to list again before then. Some analysts believe that the recent activity in the cryptocurrency market is beneficial to K Bank because it can create additional income by managing investor assets deposited on Upbit.
Binance will list PHAUSDT and DFUSDT 1-75 times USDT perpetual contract
According to the official announcement, the Binance contract platform will launch perpetual contracts at the following times, with a maximum leverage of up to 75 times:
· December 30, 2024 19:30 (East Eight District time): PHAUSDT perpetual contract · December 30, 2024 19:45 (East Eight District time): DFUSDT perpetual contract
Grayscale Research said that in Q1 2025 Grayscale will focus on tokens that involve at least one of the following three core market themes: the US election and its potential impact on industry regulation, especially in areas such as decentralized finance (DeFi) and staking. ; Continued breakthroughs in decentralized AI technology and the use of blockchain by AI agents; Growth of the Solana ecosystem. Based on these themes, Grayscale has added six new assets to the Top 20 list for the first quarter of 2025. They are HYPE, ENA, VIRTUAL, JUP, JTO and GRASS.
Galaxy Research: Predicts Bitcoin market value will reach 20% of gold
According to Bitcoin.com, Galaxy Research predicts that Bitcoin (BTC) will exceed $150,000 in the first half of 2025, and may even reach $185,000 in the last quarter of the same year. The research house believes that institutional, corporate, and country-level adoption are the main factors driving this top cryptocurrency to reach these highs.
Galaxy Research also said that it foresees BTC continuing its trend of outperforming other asset classes, including the S&P 500. Regarding gold, the Galaxy team predicts that the total market value of BTC will reach 20% of the total market value of precious metals. At the time of writing (December 29, 2024), BTC’s market capitalization is approximately $1.85 trillion, while gold’s market capitalization is estimated to be closer to $18 trillion.
Binance Megadrop Lists Solv Protocol (SOLV)
According to the official announcement, Binance announced that it will list SolvProtocol (SOLV) on the Megadrop platform, a financial ecosystem focused on Bitcoin. The total supply of SOLV is 9,660,000,000 pieces, and the Megadrop reward is 588,000,000 pieces. The specific trading time will be announced separately.
“What are some great articles worth reading in the past 24 hours?”
With the continuous development of various scientific and technological fields , blockchain and artificial intelligence technologies are working together to promote an unprecedented technological revolution. In this transformation, DeepBrainChain (DBC), as the pioneer of decentralized AI public chains, is leading the future development of the AI industry with its unique charm and unlimited potential. Since its establishment in 2017, DBC has been committed to building a decentralized AI infrastructure. Through continuous technological innovation and ecological expansion, it has gradually built a stable, efficient and secure decentralized AI public chain network.
In the process of learning more about DBC, we were fortunate enough to interview Feng, the founder of DBC. Feng shared DBC’s ecological vision and plan, making us full of expectations for the future of DBC.
Virtuals is an AI agent asset issuance platform launched on the Base network. Its current valuation is close to US$2.5 billion, and more than 100,000 agents have been issued on it. Its ecosystem has given birth to many AI agents that have emerged from the industry, including Luna, a virtual person who does live broadcasts and tweets, AIXBT, a currency circle "KOL" that provides project suggestions, and GAME, which provides developers with an agent development framework.
Virtuals was first established in 2021, and its predecessor was the game guild PathDAO. However, as Axie Infinity fell from the altar, it became increasingly difficult to build a gaming guild. During this period, the team tried multiple transformations and developed different platforms such as dating software, AI music projects, and loans for gamers. It was not until 2023 that the release of GPT made the team realize the importance of AI, and Virtuals began to officially make AI its main direction.
The popularity of GOAT has triggered a wave of AI agents in the Web3 field, but besides Meme, what other imaginations can AI agents have?
ChainCatcher interviewed Virtuals co-founder Wee Kee. He believes that AI agents are assets that can independently create continuous cash flow. Tokenizing them can not only create high-quality returns for investors but also encourage more developers to create better-use AI. Agent. He took the most famous Luna and GAME on Virtuals as examples to explain the money-making mechanism and tokenization process of AI agents.
In the future, WeeKee hopes to create a community composed of AI agents and humans. A real economic cycle can be formed between AI and AI, and between AI and humans. Only in this way can human productivity be greatly liberated.
In this conversation, we discussed with Wee Kee the money-making mechanism of AI agents on Virtuals, the development ecosystem, and the AI society in his eyes.
The stable currency USDT, the "diffuser" in the crypto world, is quietly subverting the traditional financial industry.
More and more banks are getting involved in the stablecoin market. According to Bloomberg, France’s Société Générale, Germany’s Oddo BHF, Britain’s Revolut, and even the Hong Kong Monetary Authority have begun to make plans for the stablecoin market, hoping to get a share of the pie in this field.
Previously, Tether Holdings Ltd., the world's largest stablecoin issuer, expected net profits to exceed 10 billion in 2024. Dollar CEO Paolo Ardoino said in an interview that the company has invested more than half of its net profits this year.
Naveen Mallela, global co-head of Kinexys, JPMorgan Chase’s digital asset department, said that stablecoins issued by banks are expected to accelerate development and become mainstream products in the next three years. As the policy framework improves and technology advances, stablecoins are expected to become an important part of the future financial market.
Review of AI Agent Hot Projects in 2024: Transformation from Meme to Infrastructure Token
In the bull market in the second half of 2024, in addition to the pure Meme projects sweeping the market, the AI Agent sector has demonstrated strong discussion heat and a shocking "wealth creation effect" with its unique technological innovation and practical applications. . As a pioneer in the deep integration of Crypto and AI, the rise of AI Agent has not only attracted widespread attention in the industry, but also attracted a large amount of on-chain funds.
In the Web3 world, security and transparency have always been core principles, and AI relies on efficient parallel computing and brings many challenges due to its "black box" nature. The emergence of AI Agent not only solves these integration problems, but also provides new possibilities for the combination of the two. It is foreseeable that AI Agent is destined to become one of the most promising and high-profile sectors in 2025. Before looking forward to 2025, Odaily Planet Daily will take you to review the representative head projects that will develop rapidly in the AI Agent sector in the second half of 2024.
Understand the Bitcoin strategy of MSTR micro-strategy in one article
Compared with the BTC ETF or other Spot Bitcoin ETPs launched by companies such as BlackRock, MicroStrategy's Bitcoin strategy is more aggressive. It purchases Bitcoin through the company's idle funds, issuance of convertible bonds, additional share issuance and other financing methods. The company itself obtains the potential income from the rise of Bitcoin while bearing the potential risk of the fall of Bitcoin, while ETF/ETPs focus more on price tracking. .
With the gradual improvement of infrastructure and the gradual implementation of application scenarios, the encrypted AI Agent ecosystem is becoming increasingly prosperous, showing a new market development trajectory, and liquidity and user participation are also rising. In this AI Agent craze, ai16z and Virtuals Protocol are undoubtedly the two most powerful representative projects, and their ecology has attracted various capitals that have heard of the news to actively dig for money.
Meme Hot List
According to the Meme token tracking and analysis platform GMGN market data, as of 19:30 on December 30:
The top five popular Ethereum tokens in the past 24 hours are: RAI , SEN , KEKIUS , ULTI , MYSTERY
The top five popular Solana tokens in the past 24h are: VIRTUAL, LOCKIN, CLO , Artpump.fa , BRETT
The top five popular tokens in the past 24h Base are: COPE , SKICAT, MOEW, CLANKER, BRETT
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