Gemini Trust settles U.S. CFTC charges Nvidia overtakes Apple
Reprinted from jinse
01/07/2025·4Mheadlines
▌ Gemini Trust agrees to pay US$5 million to settle CFTC charges
Gemini Trust, led by Cameron and Tyler Winklevoss, has agreed to pay $5 million to settle a lawsuit brought by the U.S. Commodity Futures Trading Commission (CFTC) over misleading statements it made to the regulator. In a "proposed consent order" signed by the parties on Monday, the company agreed to settle but neither admitted nor denied the allegations in the agency's complaint.
The CFTC sued Gemini in June 2022 for making "false or misleading statements of material fact." The agency said Gemini made these representations to the CFTC between July 2017 and approximately December 2017, when the company was being evaluated for Bitcoin futures contracts. The agency said in 2022 that Gemini allegedly made these statements about whether the company's proposed Bitcoin futures contract was "vulnerable to manipulation."
▌Nvidia surpasses Apple and becomes the world’s largest company by market value
Golden Finance reported that according to CompaniesMarketCap data, NVIDIA surpassed Apple and became the world's largest company by market capitalization.
Data shows that Nvidia's market value is approximately US$3.72 trillion, while Apple's market value is approximately US$3.719 trillion.
Quotes
As of press time, according to Coingecko data:
BTC’s recent transaction price was US$102,047, with an intraday increase or decrease of +3.5 % ;
ETH’s recent transaction price was US$3,678.16, with an intraday increase or decrease of +1.1% ;
BNB’s recent transaction price was US$729.31, with an intraday increase or decrease of +2.8 % ;
SOL’s recent transaction price was US$217.88, with an intraday increase or decrease of +2.1 % ;
DOGE’s recent transaction price was 0.3869 yuan, with an intraday increase or decrease of +1.4% ;
XPR’s recent transaction price was $2.41, with an intraday increase or decrease of +0.4% .
policy
▌U.S . court documents show the number of victims in the Do Kwon case may exceed one million
As Cointelegraph reported, U.S. government prosecutors overseeing the criminal case against Terraform Labs co-founder Do Kwon estimated that Do Kwon may have caused more than a million victims worldwide following the collapse of the Terra ecosystem. On January 6, Acting U.S. Attorney Daniel Gitner of the U.S. Federal Court for the Southern District of New York notified the court of the process for informing Kwon’s victims of their rights in the criminal case. The government will set up a website about public proceedings in Kwon's case because other methods of providing victims with rights protections are "impractical," according to U.S. prosecutors.
Gitner stated: “While it is difficult to precisely quantify Kwon given the sheer volume of trades in the Terraform cryptocurrency and the manner in which these trades are conducted (many of which are conducted on foreign exchanges through digital asset wallets or cryptocurrency trading accounts without personally identifiable information) , but the government estimates the number of victims in this case exceeds hundreds of thousands of individuals and entities and may total more than one million.”
▌U.S . judge rejects Trump’s request to delay sentencing in his “hush money” case
On January 6, local time, New York State Supreme Court Judge Juan Mercan rejected President-elect Trump’s request to postpone the sentencing process in his “hush money” criminal case. It is understood that Trump's lawyers may continue to appeal to the New York Court of Appeals.
Earlier on the 6th, Trump's lawyers appealed the ruling in his "hush money" criminal case and applied to the judge to postpone the sentencing process scheduled for this week. A 12-person jury ruled on May 30, 2024 that Trump violated the law by falsifying business records in order to conceal a $130,000 "hush payment" he made to an adult film actress during the 2016 U.S. presidential election. According to relevant New York State laws, the 34 criminal charges involved were established.
▌The U.S. Congress officially certified Trump as president and Vance as the next vice president
U.S. Vice President Harris announced at a joint session of Congress chaired by her on January 6, local time, that members of the House and Senate officially certified the results of the Electoral College for the 2024 U.S. election, confirming that Trump received 312 electoral votes. Vance was elected as the next President of the United States, and Vance was elected as the next Vice President. (CCTV News)
▌Canadian Prime Minister Trudeau announced his resignation as leader of the Liberal Party
Canadian Prime Minister Trudeau delivered a speech on January 6, local time, announcing his resignation as leader of the Liberal Party. Trudeau will remain Prime Minister of Canada until the Liberal Party elects a new leader who can replace him as Prime Minister. In addition, on the morning of the 6th, Trudeau met with Canadian Governor General Mary Simon and requested that the parliamentary recess be extended to March 24.
Blockchain application
▌ Animoca Brands: memecoin is expected to launch its own L1 or L2
Animoca Brands co-founder Yat Siu said in an interview that the crypto industry is at a turning point similar to the turning point he observed when the Internet first changed business in the 1990s. The first part of cryptocurrency mass adoption in 2025 is stablecoin adoption, with the next step being the broader expansion of memecoins into the entire blockchain ecosystem.
Yat Siu said: “I predict that memecoin will launch its own L1 or L2. They are no longer just tokens, they are building communities and ecosystems. Memecoins are essentially cultural symbols. They are attracting people’s attention and building connections with finance. A narrative that resonates with people beyond speculation.”
cryptocurrency
▌Nasdaq applied to increase the holding limit of BlackRock Bitcoin Spot ETF from 25,000 to 250,000.
According to a public regulatory filing, Nasdaq has submitted an application to the U.S. Securities and Exchange Commission (SEC) to increase the position limit of the BlackRock Spot Bitcoin ETF (IBIT) from 25,000 to 250,000. share. It should be noted that this application also requires SEC approval to take effect. The position limit refers to the maximum share of the ETF that a single investor or institution can hold.
The director of Bitwise Alpha Strategies said: "Considering the increasing trading volume of the ETF, it is reasonable to at least increase the position limit to 400,000 shares. The appeals of Nasdaq and BlackRock are reasonable and supported by factual basis ”
▌ MicroStrategy has been buying Bitcoin for nine consecutive weeks, with its total holdings reaching approximately $44.3 billion.
MicroStrategy Inc. bought $101 million in Bitcoin after announcing it would use perpetual preferred stock, common stock and debt to buy more cryptocurrencies. The Tysons Corner, Virginia-based enterprise software company has been buying Bitcoin for nine consecutive weeks as its co-founder and chairman Michael Saylor looks to advance its strategy of holding Bitcoin. The company holds approximately $44.3 billion in Bitcoin. According to SEC filings, MicroStrategy purchased 1,070 Bitcoins on December 30 and December 31 at an average price of approximately $94,000. The company said on Friday it plans to raise up to $2 billion in the first quarter through one or more perpetual preferred stock offerings. The preferred share offering is part of a plan to raise $42 billion in capital through 2027 through public stock offerings and the issuance of convertible bonds.
▌JPMorgan Chase: Inflation and geopolitical risks may support gold and Bitcoin demand in the long term
JP Morgan noted in a research note that so-called “devaluation trades” into gold and Bitcoin will “persist” as investors prepare for continued geopolitical uncertainty.
The bank said that gold and Bitcoin "appear to have structurally become a more important component of investor portfolios" as investors increasingly seek tools to hedge against geopolitical risks and inflation, citing "2024 Cryptocurrency market sees record capital inflows in 2020."
JPMorgan said the "depreciation trade" refers to a combination of factors including "structurally higher geopolitical uncertainty from 2022, continued high uncertainty about the long-term inflation outlook, and continued uncertainty about major economies." "Concerns about 'debt devaluation' caused by high government deficits", etc.) have led to growing demand for gold and Bitcoin.
▌ CryptoQuant Analyst: This bull market is likely to reach a cyclical peak in Q1 of 2025 or Q2 at the latest
CryptoQuant analyst Crypto Dan said in an article on January 6 that the bull market that started in January 2023 is likely to reach a cyclical peak in the first quarter of 2025 or the second quarter at the latest. "With an influx of new investment and additional capital from existing investors, it is reasonable to expect that the market is currently in the later stages of this cycle," the article said.
The post said: “Therefore, expectations for a significant rise in Bitcoin and altcoins are still worth looking forward to. Nonetheless, from a conservative perspective and with risk management in mind, caution is advised.”
▌ Sui TVL exceeded US$2 billion, reaching a record high
According to news on January 7, the public chain Sui stated on the Sui said its growth has been triggered by the recent announcement and launch of stablecoins, wallets and lending protocols. Industry giants such as Grayscale, VanEck and Franklin Templeton have also given Sui a boost.
▌ CryptoQuant CEO: This round of Bitcoin bull market may be the longest cycle
According to the latest tweet from CryptoQuant CEO Ki Young Ju, this Bitcoin bull cycle may be the longest ever. Increasing capital inflows are steadily driving market development, and there is still a lot of potential to be explored in the future.
▌ Coinbase: DYP V2 tokens are not supported for the time being, and the migration bridge will be closed at 19:00 on January 8
Coinbase Assets stated that all DYP holders on Coinbase need to take action: Dypius (DYP) is migrating to DYP V2. The migration bridge will be closed at 6:00 am ET on January 8, 2025 (19:00 Beijing time). Coinbase will not support DVP V2 and will suspend trading of Dypius (DYP) at approximately 2:00 pm ET on January 17, 2025 (3:00 January 18). All customers who wish to convert to DYP V2 must complete the conversion before the deadline at 6:00 ET on January 8.
Currently, the platform has no plans to support DYP V2 tokens. If users still hold DYP and wish to convert to DYP V2, they will need to use the official DYP migration portal and a compatible self-hosted wallet (such as Coinbase Wallet) to convert.
Coinbase.com (simple and advanced trading), Coinbase Exchange, and Coinbase Prime will suspend DYP trading and have currently moved the DYP order book to limit mode. Limit orders can be placed and canceled, and matches may occur.
Important economic developments
▌ The 30-year U.S. bond yield hit a 14-month high, affected by Trump’s tariff reports and pressure to expand capacity
The 30-year U.S. Treasury bond yield once climbed 5 basis points to around 4.86% on Monday, hitting its highest level since November 2023. Investors began to get a first taste of the turmoil that Trump's coming to power may cause to financial markets in the coming months. The pressure to expand the bond market has had a certain impact on the market, with weak subscription demand for the first batch of treasury bonds issued by the Ministry of Finance this week. U.S. Treasuries have come under pressure in recent weeks on concerns that Trump's policies will push up inflation. The dollar fell on Monday and Treasuries recovered some ground after the Washington Post said Trump's aides were considering narrowing the scope of his tariff plan, as markets believed the move would weaken inflation concerns. But with Trump's denial, market trends quickly reversed. Gregory Peters, co-chief investment officer of fixed income at PGIM, said in a TV interview, "There are a lot of bonds in the market and there is a continuous supply. Coupled with the fact that inflation may be more sticky or fall and rise again, these are putting pressure on the bond market."
▌The U.S. dollar index fell 0.63% on the 6th
The U.S. dollar index, which measures the U.S. dollar against six major currencies, fell 0.63% on the day and closed at 108.263 in late foreign exchange trading. As of late trading in New York, 1 euro was worth $1.0388, up from $1.0301 on the previous trading day; 1 pound was worth $1.2513, up from $1.2428 on the previous day. 1 U.S. dollar was exchanged for 157.54 Japanese yen, higher than 157.21 yen on the previous trading day; 1 U.S. dollar was exchanged for 0.9045 Swiss francs, lower than 0.9091 Swiss francs on the previous trading day; 1 U.S. dollar was exchanged for 1.4337 Canadian dollars, lower than the previous trading day 1.4449 Canadian dollars; 1 U.S. dollar exchanged for 11.0528 Swedish krona, down from 11.1083 Swedish kronor in the previous trading day.
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 does not serve as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
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