Important information last night and this morning (December 18th - December 19th)
Reprinted from panewslab
12/19/2024·6M
Powell: We are not allowed to own Bitcoin and don’t want the law to change
The Federal Reserve announced its latest interest rate decision, cutting interest rates by 25 basis points as scheduled, and the federal funds rate target range dropped to 4.25%-4.5%. According to a statement from the Federal Reserve, recent data show that economic activity has grown steadily, the labor market has eased, the unemployment rate has increased but remains low, and inflation is close to target but has increased slightly. The committee will continue to reduce the balance sheet, and the resolution was supported by the majority of members. Beth Hammack opposed it and advocated maintaining interest rates at 4.5%-4.75%. Powell said at the press conference that we are not allowed to own Bitcoin and do not want the law to be changed.
According to Cointelegraph, El Salvador has reached a $1.4 billion loan agreement with the International Monetary Fund (IMF) and plans to receive financial support in the next 40 months. As part of the deal, the country will make merchant acceptance of Bitcoin payments voluntary while gradually reducing government involvement in Bitcoin-related projects, including phasing out management of state-backed wallet app Chivo.
Trump and Vance issue joint statement calling on Congress to start discussing debt ceiling now
OpenAI: ChatGPT now supports interacting with users over the phone
Trump family encryption project WLFI announces it is seeking long-term cooperation with Ethena Labs
U.S. stocks close: Nasdaq drops 3.5%, Dow sets record for longest one-day losing streak in 50 years
U.S. stocks closed on Wednesday, with the Dow initially closing down 2.58%, setting a record for the longest single-day losing streak since 1974 (the 10th consecutive trading day of declines); the S&P 500 closed down 2.95%, and the Nasdaq closed down 3.6%. Tesla (TSLA.O) fell 8.28%, and Nvidia (NVDA.O) fell 1.14%. The panic index VIX rose as much as 78.0% during the day and was temporarily at 28.32 after the U.S. stock market closed.
Sonic Labs announces that its mainnet has officially launched
Usual announces integration of USDtb and sUSDe as core part of its future business strategy
Kelp DAO releases KERNEL token economics, 55% allocated to community rewards and airdrops
Ethereum liquidity re-pledge platform Kelp DAO announced the details of KERNEL token economics, 55% of which will be allocated to community rewards and airdrops (20% for airdrops, 35% for future community rewards), and 5% will be allocated to the ecosystem and Partners, 20% will be used for private sales, and 20% will be allocated to the team and advisors (the team and private sales tokens have a 6-month lock-up period and are unlocked within 24 months).
Kraken L2 network Ink officially launched on the mainnet, months ahead of schedule
Aave developer Avara completes $31 million in financing to develop Lens, led by Lightspeed Faction
According to Techcrunch, Aave protocol developer Avara announced the completion of a $31 million round of financing led by Lightspeed Faction. Alchemy, Avail, Circle, Consensys, DFG, Fabric Ventures, Foresight Ventures, Stellarcore, Superscript, Re7 and Wintermute Ventures participated in the investment. In addition, angel investors participating in this round of investment include Anurag Arjun, Anton Bukov, Rune Christensen, Alex Gluchowski, Aleksander Leonard Larsen, Loi Luu, Spencer Noon and Duncan Robinson. With Lens, Avara is building a decentralized protocol that provides infrastructure for social and consumer applications.
Tokenization startup Plume has raised $20 million in a new round of financing from Brevan Howard Digital, Haun Ventures, Lightspeed Faction, Galaxy Ventures, Superscrypt, Hashkey, Laser Digital (part of Nomura Group), A Capital, 280 Capital, SV Angel, Reciprocal Ventures and others co-invested, bringing its total financing to $30 million. Plume will use the funds raised in its latest round of funding to expand from crypto-native users to traditional financial firms and asset managers.
According to the latest research report from Syndica, the Solana ecosystem experienced significant growth in November, with on-chain revenue reaching US$92 million, and total DApp revenue hitting a record high of US$365 million. Among them, Pump.fun became Solana’s first DApp with monthly revenue exceeding 100 million US dollars, accounting for 26% of the total ecosystem revenue. DeFi applications contributed 83.7% of the revenue, of which the Meme currency application’s annual revenue exceeded US$500 million, an increase of 305 times from US$600,000 in January. Telegram trading bot revenue doubled to $82 million, accounting for a stable 4-5% of DEX trading volume.
DEX platform Raydium’s November revenue reached US$32 million, accounting for 86% of total spot DEX revenue, and it repurchased RAY tokens worth US$28 million (approximately 5.4 million) and distributed them to pledgers. Jupiter achieved a new revenue high of US$17 million through the perpetual contract business, 75% of which was awarded to JLP liquidity providers. Phantom Wallet’s annual revenue is US$91 million, and Solflare’s is US$31 million. Lending platform Kamino Finance’s revenue hit a new high of US$2.9 million, 80% of which came from lending business. Payment infrastructure Helio revenue increased sevenfold to $316,000.
World Liberty purchased 231,726 ENA 4 hours ago with 250,000 USDC
USV transferred 1.156 million UNI to Coinbase Prime again 4 hours ago
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