Today's News Highlights:
Binance Launchpool to Launch Vana (VANA)
Binance to Launch Velodrome Finance (VELODROME)
Satoshi Act Fund to Announce Another Version of "Strategic Bitcoin Reserve" Bill Next Week
Texas House of Representatives Proposes Bill to Establish Strategic Bitcoin Reserve
ZKsync Releases 2025 Roadmap: Enhancing Development Experience, Performance, and Security
Travala-Related Address Deposits 600,000 AVA to Binance at an Average Price of $2.6
Matrixport: Bitcoin May Exceed $160,000 in 2025, Expected Upside of 60%
Regulatory News
According to Shanghai Securities News, Huabao Fund Management Co., Ltd. announced that the Huabao Overseas Technology Equity Securities Investment Fund (QDII-LOF) has suspended subscription and regular investment services, while other services continue to operate normally. The date for resuming subscription and regular investment services will be announced separately. Applications for subscription and regular investment submitted by investors after 15:00 on December 12, 2024, will be considered as submitted on the next working day and will not be confirmed. Unconfirmed funds will be returned to the investor's designated settlement account. Previously, it was reported that the fund issued by Huabao Fund, which indirectly invests in overseas cryptocurrency assets, was sold on multiple platforms including Ant Wealth and China Merchants Bank.
UK Central Bank Regulator Requires Companies to Disclose Cryptocurrency Risks
According to Cointelegraph, the Bank of England's regulatory body has required companies to disclose their current and future exposure to cryptocurrency risks by March next year to monitor stability and assist in policy-making. On December 12, the Prudential Regulation Authority (PRA) requested companies to share information about their cryptocurrency asset risk exposure and explain how they use the Basel framework for regulation. The PRA noted that this will provide information for cryptocurrency asset-related work, helping to calibrate prudential regulation and analyze the costs and benefits of policy options. The PRA aims to monitor the impact of cryptocurrency assets on financial stability by collecting this information and requires companies to consider future plans up to September 30, 2029. The questionnaire covers key areas such as how companies use the Basel framework to manage risk exposure, hold cryptocurrency assets, and whether they use permissionless blockchains, noting that permissionless blockchains carry risks such as lack of final settlement and settlement failures, which cannot currently be fully mitigated but are still under review.
Satoshi Act Fund to Announce Another Version of "Strategic Bitcoin Reserve" Bill Next Week
Dennis Porter, co-founder and CEO of the Satoshi Action Fund (SAF), stated on the X platform that they will announce another version of the "Strategic Bitcoin Reserve" bill next week. It is reported that the "Bitcoin Rights" bill previously passed by the Pennsylvania House of Representatives was drafted by the external Bitcoin advocacy organization Satoshi Action Fund, which is the latest initiative to help legislators understand the nuances of blockchain technology and Bitcoin.
French Financial Group Oddo Developing Euro Stablecoin, Expected to Launch Next Year
According to Bloomberg, sources indicate that Paris-based financial group Oddo BHF SCA is collaborating with cryptocurrency technology company Fireblocks to develop a euro-denominated stablecoin, which Oddo expects to launch next year, pending regulatory approval. It is reported that Oddo manages client assets exceeding €140 billion ($147 billion) and has approximately 3,000 employees as of the end of 2023, with three main business lines: private banking, asset management, and corporate and investment banking. The company is majority-owned by the Oddo family, with net banking income of €806 million last year.
Texas House of Representatives Proposes Bill to Establish Strategic Bitcoin Reserve
According to CNBC, on Thursday, the Texas House of Representatives proposed legislation to establish a strategic Bitcoin reserve as a testing ground for the U.S. Treasury. Republican Representative Giovanni Capriglione announced at an X Spaces event that the bill proposes allowing the state to establish a strategic Bitcoin reserve by accepting taxes, fees, and donations in Bitcoin, which would be held for at least five years. The non-profit Bitcoin advocacy organization Satoshi Action Fund, which collaborated with Capriglione on the bill, stated that this legislation aims to provide a method to strengthen the state's financial stability and position it as a leader in Bitcoin innovation. Capriglione stated, "Inflation may be the biggest enemy of our investments, and establishing a strategic Bitcoin reserve and investing in Bitcoin would be a win-win for the country." Texas is not only the second-largest economy in the U.S. but also the eighth-largest economy in the world, and it is the region with the highest concentration of Bitcoin miners in the U.S.
Project Updates
BNB Chain Opens Applications for Season 9 MVB Program, Aiming to Build "AI First" BNB Chain
BNB Chain today announced the opening of applications for the ninth season of the MVB program, focusing on promoting AI innovation in Web3 with "AI First" as the core emphasis. MVB9 aims to attract more projects and developers that integrate AI scenarios to jointly build an AI First BNB Chain, and welcomes applications from DeFi, DeSci, gaming, and social applications as well as middleware categories, encouraging exploration and innovation in various AI-related scenarios. This includes but is not limited to the following categories: Decentralized Applications: Intention-based DeFi, AI First Game, DeSoc, AI Agent and Companions, Data Labeling, DataDAO. Infrastructure and Tools: Identity, MPC Wallet, Social Graph, AgentKit, Agent Hosting, and DevTools. Data-related Privacy Computing and Streaming Indexing, etc. The MVB (Most Valuable Builder) acceleration program is co-hosted by BNB Chain, Binance Labs, and CMC Labs, lasting for 4 weeks, aimed at supporting the growth of BNB Chain ecosystem projects. The application deadline for Season 9 MVB is January 13, 2025, at 11:59 PM UTC. In past MVB projects, nearly 60% of the 131 incubated projects from the first seven seasons received investments and support from multiple capital sources, including Binance Labs, with 5 projects currently launched on Binance Launchpool.
Binance Launchpool to Launch Vana (VANA)
Binance announced the launch of its 62nd Launchpool project—Vana (VANA), a user data ownership blockchain compatible with EVM. Users can obtain VANA airdrops by locking BNB and FDUSD starting from December 14 at 00:00 (UTC), with the event lasting for two days. Binance will list VANA on December 16 at 10:00 (UTC) and open trading pairs VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY. The maximum token supply of VANA is 120 million, with 4.8 million allocated for Launchpool rewards.
Gate.io Denies Rumors of Hacking Attack
In response to rumors reported by Aggr News suggesting that Gate.io may have suffered a hacking attack and advising users to withdraw funds, Gate.io's security team stated that no anomalies have been detected, and no security agencies have reported any irregularities. Deposits, withdrawals, and trading are all functioning normally, and users are advised not to believe rumors. Additionally, Gate.io's Chief Business Officer Kevin Lee clarified via social media that Gate.io's reserves exceed 100%, with the latest reserves exceeding $10 billion. He also called for fair competition in the industry, aiming for healthier and more transparent development.
VELODROME Surges 166% Temporarily, Possibly Influenced by Binance Listing
According to OKX market data, possibly influenced by Binance's listing, VELODROME has surpassed $0.42, rising 166% in 24 hours, currently priced at $0.4. Earlier today, it was reported that Binance will list Velodrome Finance (VELODROME).
KaJ Labs Announces $100 Million Investment to Develop AI Tools for the Ripple Ecosystem
According to The Crypto Basic, KaJ Labs, the developer of the innovative enterprise platform Atua AI, announced a $100 million investment specifically to create advanced AI tools for the Ripple (XRP) ecosystem. The plan aims to leverage Ripple's efficient and scalable infrastructure to enhance AI-driven solutions in DeFi and enterprise operations. The funds will support research, AI model training, and the deployment of XRP-based AI solutions, focusing on real-time analytics and automated workflows.
ai16z Founder: Eliza Has Integrated Farcaster
Shaw, the founder of ai16z, stated on the X platform that ai16z Eliza has integrated Farcaster. Additionally, it will offer a $420 bounty to each Eliza developer bringing agents into Farcaster this week.
ZKsync Releases 2025 Roadmap: Enhancing Developer Experience, Performance, and Security
ZKsync has released its 2025 roadmap, which includes the following aspects: ① Simplifying developer experience: bytecode EVM equivalents, LLVM tools, VS Code debugger. ② Achieving a Web2-like user experience: performance target of 10,000 TPS with fees of $0.0001; security phase one implementation, which includes decentralized ordering and proof; user interface development of a smart wallet SDK supporting web and mobile; privacy development of private Validium. ③ Connecting public and private ZK chains with native interoperability for fast cross-chain transfers and method calls.
Bithumb to List Scroll (SCR) and Ronin (RON) in KRW Market
According to an official announcement, South Korean cryptocurrency exchange Bithumb will list Scroll (SCR) and Ronin (RON) in the KRW market, with trading expected to start at 16:00 and 17:00 local time today, respectively.
OpenSea Official X Avatar Changed to Pudgy Penguins Image
According to OpenSea's official X account, the NFT marketplace OpenSea has changed its avatar to the Pudgy Penguins image.
Financing News
Smart Contract Platform Waterfall Network Completes $11.6 Million New Round of Financing
According to IBTimes, smart contract platform Waterfall Network announced the completion of a new round of financing totaling $11.6 million, with investments from Bolt's Capital, Alpha Token Capital, and Enflux, providing funds to advance its research and development. The new funds will be used to strengthen the platform's infrastructure, simplify nodes, and further improve the system. Waterfall Protocol, set to launch in July 2024, is a Layer 1, scalable, decentralized smart contract platform developed by software company BlueWave based on DAG technology and fast finality PoS consensus. It is designed for Dapps development, aiming to provide scalability, security, and truly decentralized governance while being compatible with the Ethereum Virtual Machine (EVM).
Decentralized derivatives protocol Symmio announced it has completed $3.1 million in financing, with investment from institutions including Spartan Group, Orbs, MCLB, and Blockchain Founders Fund contributing approximately $2.1 million. Early investors in the company include MS2 Capital, GMoney, and Prime Ventures.
Symmio is an intent-based derivatives clearing layer aimed at addressing liquidity and fragmentation issues in DeFi, currently supporting four networks: Arbitrum, Base, BSC, and Mantle. The project revealed plans to launch its token TGE on December 16, introducing the token on the Base blockchain, with initial liquidity provided through the SYMM/ETH trading pair on Aerodrome Finance.
Tokenization Company Uranium Digital Completes $1.7 Million Pre-Seed Round Financing
Tokenization company Uranium Digital announced the completion of a $1.7 million Pre-Seed round of financing, led by Portal Ventures, with participation from Framework Ventures, Karatage, and several angel investors.
Uranium Digital is a startup focused on the uranium market through tokenization. The company utilizes blockchain to tokenize uranium ore, enabling seamless trading in this capital-scarce and heavily regulated field. The tokens simplify the trading process while the underlying uranium remains securely stored, with physical delivery limited to licensed buyers.
DePIN Project Soarchain Completes $4.5 Million Financing
DePIN project Soarchain announced the completion of $4.5 million in financing, with participation from Taisu Ventures, BlockBuilders, Hyperithm, Plug and Play, Alpha Ventures, QC Ventures, Chorus One, Cogitent Ventures, Evo Labs, and Elevate Ventures.
Soarchain is a DePIN project that integrates artificial intelligence and modularity, incorporating users' vehicles into a secure real-time data network to support advanced applications aimed at enhancing safety, efficiency, and sustainability.
Solana Ecosystem Tokenization Platform AgriDex Completes $4 Million Strategic Financing
Solana ecosystem tokenization platform AgriDex has completed $4 million in strategic financing, led by Portal Ventures, with participation from Endeavour Ventures, Hawkwood Capital, HU Investments, FS Ventures, and Sycamore Gap Management Ltd. Company. Angel investors participating in this round include Tobechi Bolanle Taiwo from Palantir, Anna Yuan from Perena, Crypto Rand, and Michaël van de Poppe. This round of financing consists of a mix of equity and tokens, valuing AgriDex at $28.5 million.
AgriDex is a tokenization platform based on Solana, focusing on agricultural products. Following this round of financing, AgriDex plans to tokenize $4.5 billion in trade commitments, expanding into new commodity areas such as West African cocoa and Eastern European wheat, while collaborating with Plume Network to provide trade financing loans to support agricultural orders.
The decentralized trading card game Fantasy.Top, powered by Blast, has announced the launch of its second iteration, Fantasy V2, while completing a $4.25 million seed round of financing led by Dragonfly and supported by Manifold Ventures. The new capital will be used to improve Fantasy's core product and help it expand into a broader social media landscape.
Fantasy.Top is a SocialFi trading card game (TCG) launched on May 1 on the Blast mainnet by a creator known as Travis Bickle. Fantasy.Top has stated its goal is to become the ultimate financial infrastructure for online creators to monetize their content on a large scale.
Opinion
Matrixport: Bitcoin May Exceed $160,000 in 2025, Expected Upside of 60%
According to Matrixport's latest report, Bitcoin is expected to reach $160,000 in 2025, with an anticipated upside of 60%. The report notes that as institutional adoption increases, regulatory clarity improves, and speculative behavior rises, the Bitcoin market is maturing. In 2024, Bitcoin's price performance exceeded expectations, attracting more investors to gain returns through Bitcoin ETFs. By 2025, Bitcoin's adoption rate is expected to exceed 8%, which will drive its transition from a niche asset to a core component of the global financial market. Additionally, the demand for Bitcoin continues to grow, supported by changes in the macroeconomic environment and the expansion of global liquidity. The report also emphasizes that Bitcoin's resilience and its role as a hedge against inflation will further solidify its position in the global financial market.
According to a report by Electric Capital, Asia has become the main source of global crypto developers in 2024, accounting for 32% of the total number of developers worldwide. This proportion means that one in three crypto developers comes from Asia. Meanwhile, North America's share has dropped from 43% in 2015 to 24% in 2024, falling from first to third place. Europe ranks second.
BlackRock Executive: Currently Focused on Bitcoin and Ethereum ETFs, Not Launching New Altcoin ETFs
According to Bloomberg ETF analyst Eric Balchunas, Jay Jacobs, head of U.S. thematic and active ETFs at BlackRock, stated at the "ETFs in Depth" conference: "Our current exploration of Bitcoin, especially Ethereum, is just the tip of the iceberg. Only a very small number of clients hold (IBIT and ETHA), so our focus is on this area rather than launching new altcoin ETFs."
Important Data
Travala-Related Address Deposits 600,000 AVA to Binance at an Average Price of $2.6
According to @ai_9684xtpa's monitoring, a related address of the Travala (AVA) project deposited 600,000 AVA (approximately $1.56 million) to Binance in the past 15 hours, with an average deposit price of $2.6. This is the first time this address has made a transfer or sale. The address received 8.21 million tokens a year ago (accounting for 14.57% of the circulating total) and has withdrawn 1.76 million tokens (approximately $1.32 million) from Binance over the past 11 months at an average price of $0.7497, currently realizing a profit of $4.1 million. Influenced by CZ's tweet last night, the price of AVA surged nearly threefold, currently priced at $3.06.
$300 Million USDT Transferred from Binance to Unknown Wallet 16 Minutes Ago
According to Whale Alert monitoring, 300,000,000 USDT (approximately $300,060,000) was transferred from Binance to an unknown wallet at 16:29:11 Beijing time on December 13, 2024.
Arbitrum Team-Related Wallet Deposits 20 Million ARB to Coinbase at an Average Price of $1.04
According to Onchain Lens monitoring, a wallet associated with the Arbitrum team deposited 20 million ARB worth approximately $20.85 million to Coinbase at an average price of $1.04. Over the past year, this wallet has transferred a total of 250 million ARB to Coinbase, with a total value of approximately $244.43 million.
Chainlink Futures Open Interest Hits All-Time High, Token Price Reaches Three-Year High
According to Decrypt, the price of Chainlink (LINK) surged to its highest level since January 2022, reaching $29.45, as mature investors' demand for the asset continues to rise. The LINK price has increased by 20% in the past seven days and by 119% in the past month. Glassnode data shows that LINK futures open interest (OI) reached an all-time high of $770.27 million, triggering this rebound. This figure dwarfs the open interest of competitors, such as Toncoin (TON) at $259 million and TRON (TRX) at $356 million.
A New Wallet Accumulates 67,162 SOL from Coinbase in the Last 15 Hours, Worth $15.36 Million
According to Onchain Lens monitoring, a newly created wallet has accumulated 67,162 SOL from Coinbase in the past 15 hours, worth $15.36 million, with an average purchase price of $228.74.
Galaxy Digital Increases Holdings of 1.07 Million UNI and 27,722 AAVE Today
According to Lookonchain monitoring, Galaxy Digital withdrew 1.07 million UNI (approximately $18.9 million) and 27,722 AAVE (approximately $10.19 million) from exchanges today.
According to SoSoValue data, the total net inflow for Bitcoin spot ETFs yesterday (Eastern Time, December 12) was $598 million. Yesterday, Grayscale's ETF GBTC saw a net outflow of $48.403 million, with a historical net outflow of $20.939 billion. Grayscale's Bitcoin Mini Trust ETF BTC had a net inflow of $111 million yesterday, with a historical total net inflow of $1.027 billion. The Bitcoin spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, with a net inflow of $432 million, bringing IBIT's historical total net inflow to $35.490 billion. As of the time of writing, the total net asset value of Bitcoin spot ETFs is $11.2546 billion, with an ETF net asset ratio (market cap compared to total Bitcoin market cap) of 5.68%, and a historical cumulative net inflow of $35.173 billion.
A Whale Withdraws 3.72 Million OM from Binance in the Past 48 Hours, Worth $15.53 Million
According to Onchain Lens monitoring, a whale withdrew 3.72 million OM from Binance at an average price of $4.17 in the past 48 hours, worth $15.53 million.
Greeks.live macro analyst Adam stated on the X platform that today, 21,000 BTC options will expire, with a Put Call Ratio of 0.83 and a maximum pain point of $98,000, with a nominal value of $2.1 billion. Additionally, 164,000 ETH options will expire today, with a Put Call Ratio of 0.68 and a maximum pain point of $3,700, with a nominal value of $640 million. This week's market is primarily focused on adjustments, and unlike last week, Bitcoin's adjustment has been relatively small while altcoins have seen stronger adjustments. As the time approaches Christmas and year-end settlements, market makers are starting to adjust their positions, with a high proportion of recent large bullish options trades, averaging over 30% daily. In previous years, trading activity in Europe and the U.S. would significantly decline during Christmas, but this year, the influence of U.S. stocks on crypto has increased, which may be more pronounced. Recent options market data has shown that market makers are cautious, with significant volatility leading to a slight increase in implied volatility for major expirations. Options are very suitable for short-term speculation at this time, and this week's main trades have also been short-term PVP, with the cost-effectiveness of buying options still very high.
Tether Mints $1 Billion USDT on Ethereum Network Early This Morning
According to Lookonchain monitoring, at 00:04 today, Tether minted $1 billion USDT on the Ethereum network. Since November 6, Tether has minted 21 billion USDT on the Ethereum and Tron blockchains.
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