FTX Officially Announces Bankruptcy Plan in Effect Bitcoin Hash Rate Hits All-Time High
Reprinted from jinse
01/04/2025·5Mheadlines
▌FTX officially announced that the bankruptcy plan has taken effect, and the first batch of compensation is expected to be made within 60 days
FTX officially announced that the bankruptcy plan has officially taken effect on January 3, local time. According to the contents of the previously disclosed bankruptcy plan, the first batch of compensation is expected to be made within 60 days.
▌Bitcoin hash rate hits record high
According to data from CoinWarz, the Bitcoin hash rate (the total computing power securing the Bitcoin network) reached an all-time high of 1,000 EH/s on January 3, which is almost double the network hash rate 12 months ago. CoinWarz data shows that in January 2024, Bitcoin’s hash rate hovered around 510 EH/s. Bitcoin’s hash rate is back down to about 780 EH/s at press time.
Quotes
As of press time, according to Coingecko data:
BTC’s recent transaction price was US$97,962.02, with an intraday increase or decrease of +1.4 % ;
ETH’s recent transaction price was US$3,592.82, with an intraday increase or decrease of +4.2% ;
BNB’s recent transaction price was US$717.33, with an intraday increase or decrease of +2.3 % ;
SOL’s recent transaction price was US$217.45, with an intraday increase or decrease of +5.7 % ;
DOGE’s recent transaction price was 0.3814 yuan, with an intraday increase or decrease of +13.3% ;
XPR’s recent transaction price was $2.44, with an intraday increase or decrease of +1.1% .
policy
▌Korean Exchange Chairman: Interested in launching cryptocurrency ETF in 2025
Eun-Bo Jeong, chairman of the Korea Exchange (Korean Exchange, a stock exchange), expressed interest in launching cryptocurrency-based ETFs this year to meet global demand for such products. At the opening ceremony of the Securities and Derivatives Market on January 2, Eun-Bo Jeong emphasized the importance of innovative financial products in revitalizing the Korean capital market.
Blockchain application
▌Bio Protocol January Roadmap: Cross-chain to Solana and Base, launch platform contract
Bio Protocol co-founder Paul Kohhaas released Bio Protocol’s January roadmap, including: introducing 10 new DAOs; releasing Rust and EVM launch platform contracts; cross-chaining BIO to Solana and Base networks; launching the creation of Curetopia and Long COVID Labs Project; launch DeFi liquidity matching; release DeScAI proxy MVP (in cooperation with Vita Dao); conduct Quantum Biology DAO Token Generation Event (TGE); initiate platform audit.
▌ Base considers launching tokenized COIN stocks
Base developer Jesse Pollak said in a post on the X Platform that Coinbase is considering offering U.S. users of its Ethereum layer 2 network Base a tokenized share of their shares. Pollak said that non-U.S. users can already obtain tokenized COIN shares through protocols such as Backed, a tokenized RWA platform, and implementing COIN on Base is "something we will look into in the new year," adding that eventually "Every asset in the world will be implemented on Base." Jesse Pollak added that Coinbase has “no concrete plans yet” and is in an “exploratory phase” as the exchange works to understand how to comply with U.S. regulations.
cryptocurrency
▌UNI breaks through $15
The market shows that UNI broke through $15 and is now trading at $15.01, with a 24-hour increase of 6.08%. The market fluctuates greatly, so please control your risks.
▌ Polymarket’s cumulative transaction volume will exceed US$9 billion in 2024
Data compiled by The Block shows that multiple indicators of the prediction market platform Polymarket have achieved exponential growth in 2024, including active traders, trading volume and open interest (OI), reaching all-time highs earlier this year. The platform’s cumulative trading volume exceeded US$9 billion, with the monthly trading volume in November alone reaching a record high of US$2.63 billion; the number of active traders in December reached a new high of 314,500; and open interest (OI) in the United States in November It hit a record high of $510 million during the election. Polymarket's monthly trading volume growth for the full year was 66.5%. In January 2024, Polymarket's trading volume was only $54 million, but by November, this number had risen to more than $2.6 billion, an increase of nearly 48 times in one year.
▌A new wallet withdrew 84 million PENGU from Binance, worth $3.05 million
According to OnchainLens monitoring, a newly created wallet has withdrawn 84 million PENGU from Binance, worth $3.05 million.
▌ Babylon’s official tweet was stolen this morning. Users please do not click on any links.
According to social media reports on January 4, Babylon’s official Any links posted by this account.
▌ Coinbase CEO sold $636 million in COIN shares last year, and Michael Saylor sold $410.8 million in MicroStrategy shares
According to insider stock sales disclosed by the top 60 companies in the S&P 500 Index in 2024, about 500 insiders, executives, investors and other major shareholders sold a total of $36.9 billion worth of company stock, Amazon Executive Chairman Jeff Bezos accounts for more than a third of that total ($13.4 billion). Four crypto executives made the top 25: Coinbase CEO Brian Armstrong ranked 8th with $636 million; MicroStrategy’s Michael Saylor ranked 13th with $410.8 million; Coinbase co-founder Fred Ehrsam ranked 22nd with a total of $203.8 million, a figure that includes COIN shares sold by its trust and its fund Paradigm; Ehrsam is followed by Coinbase Chief Operating Officer Emilie Choi, who joined the company in 2018 from LinkedIn for $186.4 million.
▌ Cango enters Bitcoin mining and may become one of the largest miners in the world
Cango, a car trading service provider, entered the Bitcoin mining field in November. The company spent US$400 million to acquire 50 EH/s of computing power, immediately becoming one of the largest miners in the world. Bitcoin's computing power currently hovers at 823 EH/s. Once Cango's 50 EH/s is fully online, it will provide about 6% of the computing power behind Bitcoin. For reference, MARA Holdings (MARA), the world's largest publicly traded miner, has a hash rate of just over 47 EH/s, and CleanSpark (CLSK) and Riot Platforms (RIOT), the second largest, have 32 EH/s and 26 EH/s respectively. s.
Important economic developments
▌Fed Governor KUGLER: The U.S. job market remains resilient
Federal Reserve Board Governor KUGLER said that the economic situation in 2024 is good, the U.S. job market is still resilient and has been gradually cooling down; workers' real wages are increasing; the unemployment rate of 4.2% is still a historically low level, and the job market is stable, and we hope to maintain this state.
▌The U.S. ISM manufacturing PMI rose slightly in December
The U.S. ISM manufacturing PMI rose for the second consecutive month in December last year, with both orders and production picking up, indicating that the dark clouds hanging over the manufacturing industry may begin to dissipate. A pickup in demand helped deliver the first monthly increase in output since May, according to output measures. At the same time, surveys show that more manufacturers are cutting jobs at a faster pace. The employment index fell to 45.3 in December, a drop of nearly 3 points, the largest since July last year. Of the five indicators that make up the overall PMI index, the remaining indicators improved. Timothy Fiore, chairman of the ISM Manufacturing Business Survey Committee, said: "Demand improved, production execution met November performance and corporate targets; layoffs continue but should end soon, and price increases are minimal."
▌Federal Reserve Barkin: Uncertainty in financial markets appears to have declined
Fed Barkin said uncertainty in financial markets appears to have declined and market forecasts for the policy path are consistent with the Fed's median forecast. There is growing recognition that long-term interest rates may not fall as sharply as once hoped.
▌Federal Reserve Barkin: The basic outlook for 2025 is positive, and the upside risks to growth outweigh the downside risks
Fed Barkin said the basic outlook for 2025 is positive and that upside risks to growth outweigh downside risks. Inflation has not yet returned to target and more efforts are needed; there are some potential upside risks to inflation. The story of 2025 will be less about monetary policy and more about economic fundamentals and perhaps geopolitics.
▌The offshore RMB fell 180 points against the U.S. dollar from late New York trading on Thursday
The offshore renminbi (CNH) was trading at 7.3583 yuan against the U.S. dollar at 05:59 Beijing time, down 180 points from late New York trading on Thursday. The overall trading volume during the day was in the range of 7.3244-7.3629 yuan. The onshore RMB against the U.S. dollar (CNY) closed at 7.3216 yuan at 03:00 Beijing time, down 222 points from Thursday night's closing price. The trading volume was US$47.403 billion.
Golden Encyclopedia
▌What is a compressed NFT?
CNFT is a newer non-fungible token that utilizes state compression technology to store data more efficiently on Solana. Unlike traditional NFTs, which store all token metadata directly on-chain or through external links such as IPFS, cNFTs use Merkle trees to optimize data storage.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
chaincatcher
panewslab