The results of the U.S. government efficiency department fall in the planned Binance: Be alert to WhatsApp fraud

Reprinted from jinse

01/25/2025·3M

headlines

▌The U.S. Department of Government Effectiveness (DOGE) announced the results of the first 80 hours of work, far behind schedule

The U.S. Department of Government Effectiveness (DOGE) announced in an article on lease. According to calculations by BusinessInsider, this equates to about $126 million worth of contract cancellations every day. If the organization had worked at this pace for the 530 days between January 20, 2025, and July 4, 2026, approximately $67 billion in contracts would be canceled annually. (Note: The U.S. DOGE Services Interim Organization is due to terminate on July 4, 2026.) This will ultimately account for about 3% of Elon Musk’s original $2 trillion goal of cutting the federal budget, or 7% of his reduced $1 trillion goal %. Currently, DOGE is mainly focused on DEI (diversity, equity and inclusion) contracts and vacant buildings, but it cannot directly change the federal budget without congressional approval.

▌Binance CEO: Be wary of scam groups on WhatsApp

Binance CEO Richard Teng issued a message on the X platform to remind the community to beware of scam groups on WhatsApp. He advised users to remain vigilant and report any suspicious activities immediately.

Quotes

As of press time, according to Coingecko data:

BTC’s recent transaction price was US$104,733, with an intraday increase or decrease of +1.2 % ;

ETH’s recent transaction price was US$3,303.32, with an intraday increase or decrease of -0.4% ;

BNB’s recent transaction price was US$682.41, with an intraday increase or decrease of -0.6 % ;

SOL’s recent transaction price was US$252.28, with an intraday increase or decrease of +0.1 % ;

DOGE’s recent transaction price was 0.3501 yuan, with an intraday increase or decrease of +0.1% ;

XPR’s recent transaction price was $3.13, with an intraday increase or decrease of +1.0% .

policy

▌The U.S. Senate Banking Committee will hold a hearing on February 5, focusing on the issue of banks’ “de-banking” of crypto companies.

According to Fox reporter Eleanor Terrett, the U.S. Senate Banking Committee will hold a hearing on February 5 to focus on the issue of banks’ “de-banking” of cryptocurrency companies. Eleanor Terrett said that this is the first hearing on the topic of "debanking" in the history of the United States. Previously, the U.S. House of Representatives Oversight and Government Reform Committee sent letters to heads of crypto companies such as Uniswap Labs CEO Hayden Adams, Coinbase CEO Brian Armstrong, and Kraken CEO David Ripley, asking them to explain their "de-banking" experiences.

▌The U.S. SEC may make its first decision on the Solana ETF today

Solana ETF applications submitted by four institutions, including VanEck, 21Shares, Canary and Bitwise, will usher in the SEC’s first review deadline on January 25, 2025. These 19b-4 applications were officially approved by the SEC on November 21, 2024. accepted. According to the approval process, the SEC needs to make its first decision within 45 days after acceptance, and may choose to approve, deny or postpone. The market generally expects that the SEC may adopt a unified approach to review these Solana ETF applications.

Blockchain application

▌VanEck Digital Asset Research Director: Petrobras will launch a Bitcoin mining R &D project

According to Matthew Sigel, director of digital asset research at VanEck, Petrobras, one of the world’s top ten oil companies, announced that it will launch a new research and development (R&D) project that includes Bitcoin mining and tokenization.

cryptocurrency

▌NoOnes CEO confirmed that the company suffered a security breach in early January, with losses amounting to approximately US$8 million.

According to Ray Youssef, CEO of peer-to-peer encryption trading platform NoOnes, NoOnes has confirmed that it suffered a security breach earlier this month, resulting in the loss of approximately $8 million in crypto assets. The disclosure comes shortly after crypto sleuth ZachXBT posted the news on his “Investigations by Zach” Telegram channel. Ray Youssef said the losses were caused by "exploitation of the Solana Bridge" on January 1. According to its status page, the company has taken steps to disable the secure bridge, which currently remains offline. Ray Youssef posted on Conducting a thorough penetration test and we apologize for the inconvenience.”

▌Buffett ’s Berkshire Hathaway is gradually accepting cryptocurrency

While Berkshire Hathaway CEO and Chairman Buffett has made his stance on cryptocurrencies clear on multiple occasions and has never hidden his distaste for cryptocurrencies, recent actions suggest that Berkshire Hathaway and some other investment managers may be gradually embracing it. Cryptocurrency. It is reported that Berkshire Hathaway has invested millions of dollars in Nu Holdings Ltd., a Brazilian bank related to cryptocurrency, which has its own cryptocurrency platform and supports the cryptocurrency market. The bank’s stock rose 34% year-on-year. According to U.S. Securities and Exchange Commission (SEC) filings, Berkshire Hathaway's proportion of Nu shares increased from 0.1% in the fourth quarter ended December 31, 2022 to 0.4% in the third quarter of fiscal 2024. This means that as of the end of the third quarter of fiscal 2025, Berkshire Hathaway held more than 86 million Nu shares, worth nearly $1.2 billion. Buffett and Berkshire Hathaway are benefiting from an industry business that he has claimed to not understand well in the past. His previous statement that cryptocurrencies will not have a significant impact may need to be rephrased.

▌ 1,000,000 TRUMP transferred from Crypto.Com to unknown wallet

According to monitoring by the on-chain data tracking service Whale Alert, at 7:50 Beijing time, 1,000,000 TRUMP ($29,601,000) was transferred from Crypto.Com to an unknown wallet.

▌Trump ’s encryption project WLFI added 3,001 ETH and 95 WBTC 2 hours ago

On January 25, according to SpotOnChain monitoring, Trump’s encryption project World Liberty Financial spent US$20 million to add 3,001 ETH and 95 WBTC about 2 hours ago. In the past 5 days, the address has invested $210 million, including 35,995 ETH worth $119 million at an average price of $3,332, and 629.1 WBTC worth $66.84 million at an average price of $106,249. Currently, this address holds a total of 77,818 ETH (approximately $257 million) and 646.72 WBTC (approximately $67.6 million).

▌The current number of altcoins has exceeded 36.4 million, while the number of altcoins in 2017-2018 was less than 3,000

According to news on January 25, on-chain analyst Ali tweeted that the number of altcoins currently exceeds 36.4 million; during the peak season of altcoins in 2017-2018, the number of altcoins was less than 3,000, and even less than 500 in 2013-2014. kind.

Important economic developments

▌The U.S. Treasury Department’s cash reserves are facing variables, and strategists from Bank of America and other institutions said: It may affect the bond market

A change in leadership at the U.S. Treasury could change the department's approach to cash parked at the Federal Reserve, a move strategists warned could affect U.S. bond markets. Bank of America Corp. and Wrightson ICAP LLC, among others, have said the Treasury Department may reduce the amount of money it holds in accounts at the Federal Reserve as cash balances — the cushion of funds that ensure the U.S. can pay its bills — shrink. At a time when the debt ceiling has been reinstated and cash balances are shrinking, this would allow the government to issue fewer short-term bonds and potentially save taxpayers money.

▌The U.S. dollar index fell 0.56% on the 24th

The U.S. dollar index fell on the 24th. The U.S. dollar index, which measures the U.S. dollar against six major currencies, fell 0.56% on the day and closed at 107.444 in late foreign exchange trading. As of late trading in New York, 1 euro was worth $1.0495, up from $1.0423 on the previous trading day; 1 pound was worth $1.2483, up from $1.2360 on the previous day. 1 U.S. dollar was exchanged for 155.82 Japanese yen, higher than 155.81 yen on the previous trading day; 1 U.S. dollar was exchanged for 0.9060 Swiss francs, lower than 0.9068 Swiss francs on the previous trading day; 1 U.S. dollar was exchanged for 1.4343 Canadian dollars, lower than the previous trading day 1.4362 Canadian dollars.

▌U.S. House of Representatives Committee Investigating the “De-Banking” of the Crypto Industry

The U.S. House Oversight and Government Reform Committee is investigating the so-called “de-banking” of the crypto industry. The committee sent letters to crypto company leaders including Uniswap Labs CEO Hayden Adams, Coinbase CEO Brian Armstrong, and Kraken CEO David Ripley, asking them to explain their “de-banking” experiences. "The committee wants to understand whether this 'debanking' phenomenon stems from financial institutions themselves or from government actions," committee Chairman James Comer (R-KY) said in a letter. The committee's letter marks the beginning of the legislation The latest move by regulators to crack down on alleged bank decentralization. Lawmakers including House Financial Services Committee Chairman French Hill have vowed to investigate bank decentralization and said his committee would take a "strong stance."

Golden Encyclopedia

▌What is a teardrop attack in encryption?

In the cryptocurrency environment, teardrop attacks often target the decentralized nature of blockchain platforms. Even if they don’t target the blockchain’s cryptographic algorithms, disrupting the underlying peer-to-peer network infrastructure that cryptocurrencies rely on could lead to service disruptions, loss of funds, and loss of user trust. Attackers can interfere with the consensus process, transaction validation, or node-to-node communications by focusing on specific nodes or servers. This can lead to network fragmentation, processing delays or even complete outages.

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.