USDC issues another 50 million BlackRock to double investment in IBIT
Reprinted from jinse
12/27/2024·4Mheadlines
▌ USDC Treasury issues another 50 million USDC
According to Whale Alert monitoring, USDC Treasury issued another 50 million USDC on the Ethereum network 2 minutes ago.
▌BlackRock doubles down on IBIT through its Global Allocation Fund
Documents filed by BlackRock with 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. 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.
Quotes
As of press time, according to Coingecko data:
BTC’s recent transaction price was US$95,670.29, with an intraday increase or decrease of -3.7% ;
ETH’s recent transaction price was US$3,329.83, with an intraday increase or decrease of -4.7% ;
BNB’s recent transaction price was US$687.62, with an intraday increase or decrease of -2.1 % ;
SOL’s recent transaction price was US$188.29, with an intraday increase or decrease of -4.6 % ;
DOGE’s recent transaction price was 0.3121 yuan, with an intraday increase or decrease of -6.6% ;
XPR’s recent transaction price was $2.15, with an intraday increase or decrease of -6.2% .
policy
▌ Strive Asset Management applies to the U.S. SEC for a Bitcoin bond ETF
Vivek Ramaswamy’s Strive Asset Management has filed for a Bitcoin Bond ETF with the U.S. Securities and Exchange Commission (SEC).
▌ Bitwise has submitted an application for the Bitcoin Standard Company ETF to the U.S. SEC
Bitwise has submitted an application for the Bitcoin Standard Company ETF to the U.S. Securities and Exchange Commission (SEC). The fund is designed to provide exposure to stocks of companies that adopt #Bitcoin standards and have at least $1,000 in BTC in their corporate finances.
▌Two former cryptocurrency exchange FTX executives received reduced sentences
According to the Washington Post, the sentences of two former executives of cryptocurrency exchange FTX appear to have been shortened. According to the US Federal Bureau of Prisons website, Ryan Salame began serving a seven-year sentence in October. Half, now expected to be released in March 2031. Caroline Ellison now has an expected release date of July 2026, a few months shy of her original two-year sentence. FTX filed for bankruptcy in 2022 amid questions about its financial health and its relationship with sister trading firm Alameda Research, leading to rapid withdrawals of funds by customers similar to a bank run. Authorities later accused FTX of misappropriating customer funds for personal use to repay loans owed by Alameda Research and other projects. This scandal caused FTX, once the world's third largest cryptocurrency exchange, and its founder Bankman (SBF) to encounter a shocking Waterloo. Salaam, the former co-CEO of FTX's Bahamian subsidiary, pleaded guilty to running an unlicensed money transfer business and violating campaign finance laws. Ellison, the former CEO of Alameda, pleaded guilty in December 2022 to telecommunications, securities and commodities fraud and money laundering.
▌Cryptocurrency scams cause financial fraud losses in France to reach 500 million euros per year
France’s Financial Market Authority (AMF) reports that cryptocurrency-related scams are the main reason why victims lose approximately 500 million euros each year. French authorities are working with the Paris Public Prosecutor's Office, the Audit and Resolution Supervisory Authority (ACPR) and the Directorate General for Combating Fraud, Consumerism and Suppression of Fraud (DGCCRF) to step up efforts to combat these frauds. Data shows that men under the age of 35 are particularly vulnerable. They are eager for quick success and have little confidence in their investment knowledge. Scammers use social media platforms to take advantage of this population by promising unrealistic returns.
Blockchain application
▌ Kyber Network: KyberSwap is expanding to Sonic, aggregators and limit orders have been deployed
Kyber Network announced on the X platform that KyberSwap is expanding to Sonic, with KyberSwap aggregators and limit orders currently deployed.
cryptocurrency
▌ Wintermute: Companies following MicroStrategy’s lead in adding Bitcoin to their balance sheets may become a trend in 2025
An analyst at market-making firm Wintermute said companies using their equity to follow MicroStrategy's lead and add Bitcoin to their balance sheets could become a major trend in 2025.
Jake Ostrovskis, an over-the-counter trader at Wintermute, said: "I think there will be quite a big push next year from corporates and those listed companies trying to gain exposure. You will probably see small and medium- sized enterprises getting on board as well."
Ostrovskis also predicted that some companies will follow MicroStrategy’s strategy for ETH. "It's probably just a matter of time until someone does the same thing and turns themselves into something like an Ethereum investment vehicle, and at that point, you become the MicroStrategy of that space," he said.
▌ CryptoQuant Analyst: Bitcoin investors with a holding period of 6-12 months have been the most active in selling recently
CryptoQuant analyst Yonsei said that the Spent Output Age Bands (SOAB) indicator shows that long-term holders (LTHs) locked in significant profits during Bitcoin’s November-December 2024 bull run. Investors with a holding period of 6 to 12 months have been the most active in selling recently. Most of these investors bought Bitcoin when spot ETFs were launched at the beginning of the year. Their selling activities have put some downward pressure on the price of Bitcoin. However, strong demand has kept Bitcoin prices in the $90,000 to $100,000 range. At the same time, investors with a holding period of more than one year sold less during this period, and the Binary CDD indicator showed that the sales volume of Bitcoin’s old coins declined in December compared with November, indicating that most long-term holders may Further price increases are still expected.
▌ Base Network TVL has grown to over $3.5 billion
According to data from The Block, Base Network TVL has grown to more than $3.5 billion. Additionally, Base's transaction volume remained strong throughout the fourth quarter, processing more than 8 million transactions in a single day, and the network has experienced steady growth since March, with transaction volumes increasing from approximately 500,000 transactions per day in December. of more than 7.5 million transactions.
▌Yesterday , GBTC had a net outflow of US$24.2 million, and ETH had a net inflow of US$6 million.
According to monitoring data from Farside Investors, the funding data of the US Spot Bitcoin ETF and Spot Ethereum ETF yesterday (December 26) were as follows:
Spot Bitcoin ETF: GBTC had a net outflow of US$24.2 million, BITB had a net outflow of US$8.3 million, and BTC had a net inflow of US$7.2 million;
Spot Ethereum ETF: ETH had a net inflow of US$6 million, and there was no inflow or outflow of ETHW and ETHE.
Important economic developments
▌Analyst : The S &P 500 Index may hit a new high above 6,100 points
Jonathan Krinsky, an analyst at investment institution BTIG: U.S. stocks may continue to rise before the end of the year, pushing the S&P 500 index to a new high above 6,100 points. However, looking ahead to January, market volatility will return. If the S&P 500 does hit new highs, there will be a huge divergence in terms of breadth and momentum, which is another red flag heading into January.
▌The probability that the Fed will keep interest rates unchanged in January next year is 87.2%
According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in January next year is 87.2%, and the probability of cutting interest rates by 25 basis points is 12.8%. The probability of keeping current interest rates unchanged by March next year is 50.6%, the probability of a cumulative 25 basis point interest rate cut is 44.1%, and the probability of a cumulative 50 basis point interest rate cut is 5.4%.
Golden Encyclopedia
▌ What is Ripple Labs’ RLUSD stablecoin?
RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to provide a stable digital currency for trading and trading. As a stablecoin pegged to the U.S. dollar, 1 RLUSD is equal to 1 U.S. dollar. Each RLUSD maintains a 1:1 peg. These collateral assets are either U.S. dollar deposits or cash equivalents.
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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