Important information last night and this morning (December 26th - December 27th)
Reprinted from panewslab
12/27/2024·4M
Trump-related asset management firm Strive applies for “Bitcoin Bond” ETF
According to Cointelegraph, according to documents submitted on December 26, Strive, an asset management company founded by Vivek Ramaswamy, has applied to U.S. regulators to list an ETF that will invest in Bitcoin convertible bonds issued by MicroStrategy and other companies. The bonds, known as "Bitcoin Bonds," are convertible securities issued by MicroStrategy or other companies that plan to use the proceeds primarily to purchase Bitcoin. The Strive Bitcoin Bond ETF will be actively managed, with exposure to these “Bitcoin Bonds” either directly or through financial derivatives such as swaps and options. Although Strive hasn't clarified the management fees that investors will pay, fees for actively managed funds are generally higher than for passive index funds. Vivek Ramaswamy, an outspoken supporter of US President-elect Trump, founded Strive Asset Management in 2022. In November of this year, Trump announced that Ramaswamy would join Tesla founder Musk to lead the Department of Government Efficiency (DOGE), a private initiative aimed at cutting wasteful government spending. According to previous news in November, asset management company Strive established a wealth management department and included Bitcoin in its standard investment portfolio.
Bitwise applied for the "Bitcoin Standard Company ETF" to the U.S. SEC
According to Cointelegraph, Bitwise has applied to the U.S. Securities and Exchange Commission (SEC) for the Bitcoin Standard Corporations ETF. The fund aims to invest in shares of companies adopting the Bitcoin standard, with a minimum of 1,000 BTC in company funds.
Binance Alpha adds 5 new projects: EVAN, BITCOIN, VISTA, AVAAI and AITECH
The Binance Alpha page shows that a new batch of five projects has been added to the list, namely EVAN, BITCOIN, VISTA, AVAAI and AITECH. The introduction is as follows. As of now, there are 43 Binance Alpha projects.
According to The Block, Siqi Chen, CEO and CFO of entrepreneurial finance platform Runway, posted yesterday calling on everyone to donate to support the Ccancer laboratory at the University of Colorado. The laboratory is the only institution in North America that studies craniopharyngioma in children, and Siqi Chen's young daughter Mira is suffering from this disease. Thanks to the forwarding and promotion of many well-known X users, including X Platform CEO Linda Yaccarino, as of the writing of this article, Siqi Chen’s fundraising on GoFundMe has exceeded US$230,000.
Unexpectedly, a user of Pump.Fun created a Meme coin called Mira, which once had a market value of $80 million. Fortunately, X user Waddles quickly purchased and gave away 50% of Siqi Chen’s share after the coin was released, making the value of his position instantly reach millions of dollars. However, when Siqi Chen announced his plan to gradually sell off these Mira coins and donate all the proceeds to the laboratory, the market value of the coin began to decline. Siqi Chen disclosed his selling plan on the 24 hours notice.”
He acknowledged that some traders may have profited from it but had no intention of donating, but overall he believed the incident had a positive impact. He revealed: "Our original goal was to raise US$200,000, but in the end we will raise at least US$1 million for rare disease research. This is undoubtedly a victory for the world." As of this writing, the market value of Mira coins has dropped to 19 million Around USD. At the same time, the market value of a "kitkat" Meme coin named after Mira's dog briefly reached $3 million, but has now fallen to about $150,000. Siqi Chen said: “Every penny we will get from kitkat/Meme coins, including LP fees, after tax, will be used directly for rare disease research.”
According to Cointelegraph, according to a report released by Kairos Research on December 26: In November and December, the Solana ecological liquidity staking protocol Jito generated more than $100 million in monthly revenue through priority fees and tips. According to Kairos, tip income from Jito’s validators will increase by an average of 32% per month in 2024, with monthly income peaking at approximately $210 million in November. Jito's growing tip income reflects the growing popularity of the Solana network. At the same time, it also shows that the revenue that validators can earn by prioritizing certain transactions over others is increasing, a practice known as Maximum Extractable Value (MEV). In 2024, Solana’s validators will earn more from MEV than Ethereum for the first time. Meanwhile, transaction fees on the Solana network increased from approximately 60,000 Solana tokens per day in January to almost over 150,000 in October, according to Dune Analytics. As of December 26, more than 93% of Solana validators use Jito’s software to maximize revenue from block construction, according to Jito’s developer Jito Labs.
BlackRock doubles down on IBIT through its global allocation fund
According to Cryptoslate, documents submitted by BlackRock to the U.S. Securities and Exchange Commission (SEC) show that as of October 31, the number of shares held by its global allocation fund in the Bitcoin spot ETF IBIT has reached 430,770 shares, with a total value of more than 17 million Dollar. That’s a 117% increase from the 198,874 shares reported on July 31, a significant increase noted by an X user named MacroScope. Furthermore, the number of IBIT shares currently reported is more than 10 times higher compared to the 43,000 shares registered in the first quarter. The Global Allocation Fund is a diversified investment product of BlackRock that covers short-term securities such as stocks, bonds, and money market securities in the U.S. and foreign markets, and its investment portfolio is adjusted regularly. Despite BlackRock doubling down on its investments in Bitcoin products, IBIT shares account for just 0.1% of the global allocation fund's total size of $16.5 billion.
Eliza will unveil new token economics proposal around January 1st
When answering questions from PANews at a community exchange meeting, members of the Eliza team revealed that the project plans to release two important announcements. First, the project side will officially announce the list of all partners to increase project transparency and help the community have a clearer understanding of the partnership and its specific scope. Secondly, regarding token economics, the team will announce a new token economics proposal around January 1. The proposal was jointly designed by professionals from multiple teams and will include LP matching mechanism, DeFi function integration, etc. In addition, the project team also revealed that they have acquired a Launchpad company, which will be used for official releases of agents in the future.
Marathon Digital’s Bitcoin holdings have increased to 44,394 coins
Marathon Digital just tweeted to review 2024, saying that it has transformed itself from a Bitcoin mining company into a global leader in energy and infrastructure. Important milestones were achieved throughout the year, including computing power reaching 50 EH/s, capacity increasing 3 times to 2GW, adding 7 mines, increasing the proportion of self-operated mines to 65%, and passing US$2 billion of 0% convertible bonds Increased Bitcoin holdings to 44,394. In addition, the company implements a zero-cost energy strategy, acquires wind farms, uses abandoned oil field gas to provide energy, and recovers heat energy to heat 80,000 homes in Finland. At the same time, it launched a two-phase immersion cooling system, a multi-chain Layer 2 network and a Bitcoin transaction direct submission tool Slipstream, and achieved the highest return on capital in the industry. The team size expanded from 56 to 152 people.
KULR spent $21 million to buy approximately 217 Bitcoins
According to an announcement from KULR Technology Group, the US stock listed company KULR has completed the purchase of Bitcoins worth US$21 million, purchasing a total of 217.18 Bitcoins at an average price of US$96,556.53 each. The purchase is part of its “Bitcoin Treasury Strategy,” which aims to allocate up to 90% of remaining cash to Bitcoin. KULR selected the Coinbase Prime platform to provide custody, USDC and self-custody wallet services. These are the first transactions in the company’s ongoing plans to purchase Bitcoin in the future. KULR Technology Group Inc. (NYSE American: KULR) leverages in-house battery design expertise, comprehensive cell and cell testing suites, and battery manufacturing and production capabilities to provide cutting-edge energy storage solutions for space, aerospace and defense.
Opinion: MicroStrategy’s stock issuance plan is unlikely to halt the decline of Bitcoin
According to Golden Ten, although MicroStrategy, which has been hoarding Bitcoin, plans to issue shares, allowing it to buy more Bitcoins, Bitcoin still fell lower today, falling about 3% to $95,420 during the session. Some traders warned that the market could become volatile in the day ahead due to the large expiration of open interest in Bitcoin and Ethereum derivatives. On Friday, a record $43 billion in open interest will expire on derivatives exchange Deribit, including $13.95 billion in Bitcoin options and $3.77 billion in Ethereum options.
According to a statement released by the Malaysian Communications and Multimedia Commission (MCMC), Telegram and WeChat have begun the application process for the licenses required to operate in Malaysia. MCMC recognized the two companies and urged other service providers to complete the application process by December 31, 2024 to comply with the relevant regulations that will take effect on January 1, 2025. The new rules are intended to improve online security, protect users and combat harmful content. Service providers that fail to comply will face regulatory issues, and MCMC said it will assist qualified providers to successfully complete the application process.
1.69 trillion BONK have been destroyed, worth over 50 million US dollars
According to SolanaFloor detection, 1.69 trillion BONK (worth approximately US$52.28 million) has been destroyed from the total supply of Solana ecological meme currency BONK after the proposal was approved by Bonk DAO.
According to Lookonchain data, on December 26, there was a net outflow of 1,620 BTC (approximately US$155.18 million) from Bitcoin ETFs, of which Fidelity had an outflow of 852 BTC (approximately US$81.6 million) and currently holds 202,342 BTC (approximately US$19.38 billion). . The Ethereum ETF saw a net inflow of 1,000 ETH (approximately US$3.35 million), with Fidelity contributing all of the inflow and currently holding 435,000 ETH (approximately US$1.45 billion).
jinse