OpenAI opens full blood o1 model API Ripple launches stable currency RLUSD
Reprinted from jinse
12/18/2024·6Mheadlines
▌ OpenAI opens the full-blood o1 model API, reducing the cost by 60%
In the early morning of the 18th, OpenAI started its ninth day of technology sharing live broadcast, officially released the API of the o1 model, and made a major upgrade to the real-time API to support WebRTC. Among them, the API of the o1 model has reduced the thinking cost by 60% compared with the previous preview version, and comes with advanced visual functions; the audio cost of GPT-4o has been reduced by 60%, and the price of the mini version has dropped by 10 times. At the same time, OpenAI also released a new preference fine- tuning method, which allows large models to better grasp the user's preference style through the direct preference optimization algorithm.
▌ Ripple officially launches stablecoin RLUSD
Ripple has now officially launched the stablecoin RLUSD.
Quotes
As of press time, according to Coingecko data:
The recent transaction price of BTC was US$106,109, with an intraday increase or decrease of +0.2% ;
ETH’s recent transaction price was US$3,888.84, with an intraday increase or decrease of -2.2% ;
BNB’s recent transaction price was US$718.84, with an intraday increase or decrease of +0.1 % ;
SOL’s recent transaction price was US$224.18, with an intraday increase or decrease of +4.0 % ;
The recent transaction price of DOGE was 0.3947 yuan, with an intraday increase or decrease of -1.3% ;
XPR’s recent transaction price was $2.57, with an intraday increase or decrease of +4.0% .
policy
▌Encryption advocates sent tens of thousands of emails to the U.S. Senate in the past week to oppose the re-election of U.S. SEC Commissioner Crenshaw
Tens of thousands of emails from crypto advocates have flooded the U.S. Senate over the past week, urging them to oppose the re-election vote of U.S. Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw.
According to a statement released on Tuesday, 52,000 supporters of the non- profit organization Standwith Crypto sent approximately 107,000 emails to U.S. senators. This comes about a week after the U.S. Senate Banking Committee canceled a vote on the re-election of Democratic SEC Commissioner Caroline Crenshaw for the second time.
▌The U.S. Ohio House of Representatives submitted a bill to establish a strategic Bitcoin reserve
The U.S. House of Representatives in Ohio has filed a bill to establish a strategic Bitcoin reserve for the state.
▌ Fox reporter: Incoming encryption czar David Sacks will meet with members of Congress on Capitol Hill this week
According to an article by Fox Business reporter Eleanor Terrett on the Meet Kash Patel.
▌Fox reporter: The Democratic Party can again propose the nomination of SEC Commissioner Crenshaw, but it will be decided by Trump
According to Fox Business reporter Eleanor Terrett’s article on the adjourned.
Under congressional procedures, the minority party (in this case, the Democrats) typically recommends candidates to fill minority seats on committees. The president has the discretion to listen to their advice, but he is under no obligation to do so. Therefore, Democrats may renominate Crenshaw at the request of Elizabeth Warren, but it will be up to Donald Trump himself whether to renominate her.
▌The U.S. Department of the Treasury: It has cracked down on a North Korean cryptocurrency money laundering network
The U.S. Treasury Department said on Tuesday it had shut down a North Korean cryptocurrency laundering network that laundered millions of dollars for a major player in global crypto crime.
According to a press release from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), a UAE-based front company called Green Alpine Trading, LLC was found to be converting cryptocurrencies into cash to fund North Korea. The U.S. government's sanctions arm has blacklisted the company.
Blockchain application
▌Remote , a US-compliant HR technology service provider, cooperates with Stripe to launch USDC payment service
Remote, an American compliance HR technology service provider, announced that it is partnering with Stripe to allow the American companies it serves to use USDC to pay wages to contract employees in 69 countries. The feature first supports Coinbase's L2 blockchain Base and is available to U.S. customers. Contract employees can simply choose a new withdrawal method and add their Base network wallet address to receive payments in USDC, while their employer settles in USD. .
cryptocurrency
▌Bloomberg Analyst: It is expected that a wave of crypto ETFs will appear next year, with XRP and SOL possibly following LTC and HBAR ETFs
Eric Balchunas, a senior ETF analyst at Bloomberg, said on the Because it is a fork of BTC, which is a commodity), then HBAR (because it is not labeled as a security), followed by XRP, Solana (because it is labeled as a security in pending litigation).”
▌Analysis : If Bitcoin rises to $138,000, MicroStrategy’s market value will exceed that of Starbucks and Nike
If Bitcoin rises to $138,000, MicroStrategy’s market value will exceed that of Starbucks and Nike.
With 439,000 BTC, MicroStrategy is the largest corporate holder of Bitcoin, 985% more than Marathon Digital’s 40,435 BTC holdings. Analysts say that monitoring the price of BTC can directly predict MSTR’s market capitalization potential. According to MicroStrategy's net asset value (NAV) worksheet, its fully diluted market cap is $114 billion, which works out to an MSTR NAV of about $40 billion. In terms of MicroStrategy’s holdings of BTC, every time BTC rises by $1,000, MSTR’s market cap increases by approximately $440 million. As a result, with Bitcoin rising just 11% to $118,810, MicroStrategy’s market capitalization would surpass Starbucks’ valuation ranking. A 32% rise to $140,000 per BTC would put MSTR’s market capitalization above that of Nike. Surpassing Nike’s market cap is predicated on MicroStrategy not increasing its current BTC holdings.
▌ Babylon Lianchuang: Staking will determine Bitcoin’s status in the global digital economy
Fisher Yu, co-founder of the Babylon project, wrote that staking next year will determine Bitcoin’s status in the global digital economy. In addition to benefiting retail investors by allowing them to earn passive rewards from their BTC holdings, Bitcoin staking also presents an attractive opportunity for businesses and governments, with governments around the world holding approximately 2.2 % of Bitcoin supply.
The article stated that the huge opportunities brought by Bitcoin staking are expected to transform Bitcoin from a value store and exchange medium into an active asset, thereby further motivating people to participate more broadly in decentralized systems and digital assets. Bitcoin staking may just be the beginning of Bitcoin as the basis for innovation. In 2025, we may see the rise of other native use cases that will continue to solidify Bitcoin’s position as a foundational asset in the global financial ecosystem.
▌ Coinbase: Removed wBTC due to unacceptable risks brought by Justin Sun
According to CoinDesk, Coinbase (COIN.O) stated that it will delist wBTC due to the "unacceptable risk" that Justin Sun will bring. Last week, wBTC issuer BiT Global filed a wide-ranging lawsuit accusing Coinbase of improperly favoring its competitor cbBTC. But in a 25-page response, Coinbase said the decision was related to crypto billionaire Justin Sun, founder of the Tron blockchain, who has also been accused of fraud and market manipulation in the United States. According to Coinbase documents, Sun and wBTC were connected through a partnership announced in August. "Given Justin Sun's involvement, Coinbase, like many others in the industry, raises serious questions about BiT's ability to be a reliable steward," Coinbase said.
▌BlackRock releases a 3-minute Bitcoin science education video
BlackRock released a 3-minute educational video explaining what Bitcoin is, stating in the video: “Bitcoin is an emerging currency alternative and time will tell how widely it is adopted.”
▌ BTC-EUR market share exceeded BTC-JPY for the first time since the beginning of 2023
For the first time since early 2023, BTC-EUR has surpassed BTC-JPY in market share, and it is now the third-largest BTC-fiat pair by trading volume. The increase in BTC-EUR trading volume indicates the rising interest in Bitcoin among European investors. This may be due to a combination of factors such as the economic situation in the Eurozone, changes in regulatory policies, and increased awareness of digital assets among European investors.
Important economic developments
▌The probability that the Fed will cut interest rates by 25 basis points in December is 95.4%
According to CME's "Fed Watch", the probability that the Federal Reserve will keep current interest rates unchanged until December is 4.6%, and the probability of cutting interest rates by 25 basis points cumulatively is 95.4%. The probability of keeping current interest rates unchanged by January next year is 3.8%, the probability of a cumulative 25 basis point interest rate cut is 79.9%, and the probability of a cumulative 50 basis point interest rate cut is 16.3%.
▌The three major U.S. stock indexes collectively closed lower, with the Dow recording its longest losing streak in nearly half a century.
The three major U.S. stock indexes collectively closed lower, with the Nasdaq falling 0.32%, the S&P 500 falling 0.39%, and the Dow falling 0.61%. Among them, the Dow recorded nine consecutive daily losses, the longest losing streak since February 1978. Most large technology stocks fell, with Intel and Nvidia falling by more than 1%, Netflix, Google, Amazon, and Meta falling slightly; Tesla rose by more than 3%, and Apple and Microsoft rose slightly. Among them, Nvidia entered the correction range; Tesla and Apple continued to hit new highs.
Golden Encyclopedia
▌What is Rollup?
Rollup is a way of processing transactions on a Layer 2 protocol that frees up valuable space in the base layer. Rollup folds transactions one by one on the second layer, sometimes dozens of times, then rolls them together before sending the data back to Layer 1. There are two main types of Rollup, optimistic and zero-knowledge (ZK) proof. Optimistic Rollup is a fairly clear term. This means that Rollup operates with an "optimistic" approach, assuming transactions are valid unless proven wrong by the validator. They will check the validity of the transaction only if there is a dispute. ZK Rollup certifies transactions without revealing any transaction data. Therefore, it is called "zero knowledge". ZK Rollup provides instant finality because cryptographically proven data is guaranteed to be valid. In many ways, Rollup is to your standard blockchain transaction what Calzone is to your average pizza slice. By scrolling, you can put more stuff in.
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.
panewslab