Trump family encryption project WLFI buys ENA and the Fed cuts interest rates by 25 basis points
Reprinted from jinse
12/19/2024·6Mheadlines
▌The Trump family encryption project WLFI bought $250,000 in ENA 4 hours ago and exchanged 103 cbBTC for WBTC
According to Onchain Lens monitoring, about 4 hours ago, the Trump family encryption project WLFI (World Liberty) spent US$250,000 USDC to purchase 231,726 ENA and exchanged 103 cbBTC worth US$10.36 million into WBTC. So far this month it has spent:
-30 million USDC purchased 8,105 ETH;
-10 million USDC purchased 103 cbBTC (converted into WBTC);
-2 million USDC purchased 78,387 LINK;
-$1.91 million USDC purchased 6,137 AAVE;
-$750,000 USDC purchased 741,687 ENA;
-$250,000 USDC purchased 134,216 ONDO.
▌The Federal Reserve cuts interest rates by 25 basis points
The Federal Reserve's 2024 annual interest rate resolution comes to an end. The bank decided to lower the benchmark interest rate by 25 basis points to a range of 4.25%-4.50%. This is the third consecutive interest rate cut, in line with expectations. In eight resolutions this year, the Fed cut interest rates by a total of 100 basis points, including one 50-basis-point rate cut, two 25-basis-point rate cuts, and the other five times it kept interest rates unchanged.
Quotes
As of press time, according to Coingecko data:
BTC’s recent transaction price was US$100,610, with an intraday increase or decrease of -5.5% ;
ETH’s recent transaction price was US$3,646.73, with an intraday increase or decrease of -6.6% ;
BNB’s recent transaction price was US$691.22, with an intraday increase or decrease of -4.1 % ;
SOL’s recent transaction price was US$207.61, with an intraday increase or decrease of -7.8 % ;
The recent transaction price of DOGE was 0.36 yuan, with an intraday increase or decrease of -9.1% ;
XPR’s recent transaction price was $2.33, with an intraday increase or decrease of -9.7% .
policy
▌Powell : The Fed has no intention of holding Bitcoin
There is ongoing debate surrounding whether the incoming Trump administration will establish a Bitcoin reserve. Federal Reserve Chairman Jerome Powell said the Fed has no intention of holding Bitcoin. "We are not allowed to hold Bitcoin," Powell said at a press conference after the FOMC meeting. As for the legal issues of holding Bitcoin, Powell said, "It is something for Congress to consider, but we have no intention of seeking to Change the law."
▌Trump and Musk oppose the spending bill, and the Speaker of the House of Representatives proposes "Plan B"
According to the "Capitol Hill" report, Johnson, the Republican speaker of the U.S. House of Representatives, is considering "Plan B" to fund the government before Friday's government shutdown deadline, as Republicans inside and outside Congress, including those from Trump's team People are criticizing his spending plan. Trump also told Fox News hosts earlier that he was completely opposed to the continuing resolution spending bill. This is consistent with the view of "America's No. 1 buddy" Musk, who said that any congressman who supports the bill should step down. Two people familiar with the matter said the alternative Johnson was considering was a "clean" continuing resolution bill. That would require abandoning additional provisions included in the original 1,500-page spending package negotiated by congressional leaders, including disaster aid and financial aid for farmers.
▌U.S . federal judge rules Coinbase can delist WBTC
U.S. federal judge Araceli Martínez-Olguín ruled against Hong Kong company BiT Global’s request for a temporary restraining order, allowing Coinbase to proceed with plans to remove Wrapped Bitcoin (WBTC) from its platform. The judge held that BiT Global failed to prove that Coinbase’s move would cause “imminent and irreparable harm” to it.
Blockchain application
▌ Arkham announced that it will integrate Sui blockchain data
According to the official announcement, Arkham announced that it will integrate Sui blockchain data, including entity/address pages, Arkham dashboards, real-time alerts, visualization tools/trackers, and more. It is reported that the Sui ecosystem has achieved significant growth in recent months, with transaction volume in the past seven days alone reaching approximately US$2.93 billion, and the value of stablecoins on the network reaching US$300 million.
▌Deutsche Bank launches Layer 2 network based on ZKsync technology
German financial giant Deutsche Bank is developing an Ethereum Layer 2 blockchain network based on ZKsync technology. The project aims to address the compliance challenges of public blockchains in regulated finance by improving transaction efficiency and enhancing regulatory compliance.
The development is part of the Project Guardian project promoted by the Monetary Authority of Singapore (MAS), and Deutsche Bank's L2 network has been named Project Dama 2. The project brings together 24 financial institutions to explore the possibility of tokenizing blockchain assets.
cryptocurrency
▌ Avalanche may conduct a Christmas airdrop for Retro9000 voting users
The Avalanche Foundation issued a document on
Previously, Avalanche announced that it plans to launch a $40 million funding program, Retro9000, designed to reward developers who build on Avalanche9000.
▌ Kelp DAO announced KERNEL token economics, 20% of the total token supply will be used for airdrops
The re-pledge project Kelp DAO announced KERNEL token economics on the X platform, with 20% used for airdrops and 35% used for future community rewards. 5% ecosystem and partners. 20% private sale. 20% team and consultants. In addition, 20% of token airdrops are used for 3 airdrop seasons.
▌ Placeholder Partner: The market will correct after the Federal Reserve’s FOMC meeting, so don’t over-trade.
Chris Burniske, a partner at Placeholder, posted on Use this experience as an opportunity to slow down. Don't overtrade. Just be patient and you'll be fine."
▌JPMorgan Chase: Trump’s victory will usher in a new era for U.S. encryption, and the choice of CFTC chairman will be particularly important
JPMorgan Chase & Co. (JPM) said in a report on Wednesday that Donald Trump’s victory in the November presidential election has ushered in a new era for U.S. cryptocurrencies, noting that the overall cryptocurrency market has grown since his victory. The market value has increased by about 65%.
Analysts led by Kenneth Worthington wrote: “Not only does the new administration bring a sense of crypto-friendliness, but it has also shown enthusiasm for promoting the asset class; Trump nominates CFTC (CFTC) Chairman is the missing piece in the government’s pro-crypto agenda. The position is important because of the important role it could play in regulating Bitcoin (BTC) and Ethereum (ETH).”
Important economic developments
▌Analyst : Worry that the Fed may resume raising interest rates too early
Analyst Jersey said that some people are worried that the policies of the new U.S. government may trigger inflation, causing the Federal Reserve to raise interest rates before the end of 2025, but this may be premature because the implementation of new policies will take a long time. However, given that the next step is likely to be a rate hike, which seemed unlikely four months ago, the yield curve is likely to steepen. However, such action may not occur until we have more data.
▌The Hong Kong Monetary Authority cuts interest rates by 25 basis points
The Hong Kong Monetary Authority lowered its benchmark interest rate by 25 basis points to 4.75%, after the Federal Reserve announced a 25 basis point interest rate cut in the early morning.
▌Trump and Vance issued a joint statement calling on Congress to begin discussing the debt ceiling now
U.S. President-elect Trump and Vice President-elect Vance issued a joint statement on cap issue, so who would have thought they would cooperate in June while we were in office? Let’s have this debate now," Trump and Vance said in a statement. Trump and Vance also called on Congress to "pass a streamlined spending bill that does not let U.S. Senate Majority Leader Schumer and the Democrats have their way."
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.
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