Compiled by: Luan Peng, ChainCatcher
Important News:
- US SEC Approves Hashdex to Launch Nasdaq Bitcoin and Ethereum Crypto Index ETF
- Craig Wright, self-proclaimed Satoshi Nakamoto, sentenced to 12 months in prison for contempt of court, with a two-year probation
- Doodles NFT founder hints at token launch, Doodles floor price surges 61%
- Beijing prosecutors penetrate and crack virtual currency mixing paths, recovering over 89 million yuan in illicit funds
- El Salvador Bitcoin Office: $1 million worth of BTC transferred to strategic reserves
- Binance contracts to launch Bitcoin, Ethereum, and other U-based and coin-based quarterly 0627 contracts
- 202nd Ethereum ACDE meeting: Developers discuss updates affecting EIP 7742 and other Pectra specifications
- Bankrupt Cryptopia exchange begins returning cryptocurrency to account holders, has now repaid $224.9 million in cryptocurrency
"What important events occurred in the past 24 hours"
US SEC Approves Hashdex to Launch Nasdaq Bitcoin and Ethereum Crypto Index ETF
According to documents released by the US Securities and Exchange Commission (SEC), the SEC has approved the listing of the Hashdex Nasdaq Crypto Index US ETF and the Franklin Crypto Index ETF. These funds will be listed on the Nasdaq and Cboe BZX exchanges, allowing investors to indirectly invest in Bitcoin and Ethereum through traditional financial markets. The approval includes comprehensive market monitoring agreements to prevent fraud and manipulation.
Australian scientist Craig Wright, who claims to be Satoshi Nakamoto, has been sentenced for contempt of court to 12 months in prison, with a two-year probation. He appeared via video link and refused to disclose his exact location but stated that he would appeal.
Previous reports indicated that COPA accused Craig Wright of contempt of court, seeking a two-year prison sentence.
Doodles NFT founder hints at token launch, Doodles floor price surges 61%
Doodles NFT founder burnt toast posted a cryptic message on social media this morning, but the first letters of each word spell out "token is coming," suggesting a token launch may be imminent.
As a result of this news, the Doodles floor price briefly surged, surpassing 8 ETH this morning before retreating, currently reported at 6.77 ETH, with a 24-hour increase of 61.77%.
According to the Workers' Daily, the Beijing People's Procuratorate released information on the "Procuratorial Protection of Enterprises" special action and published typical cases. In a case of embezzlement, the defendant defrauded the company of over 140 million yuan, and the procuratorial authorities tracked the virtual currency to recover losses.
Between 2020 and 2021, Feng, taking advantage of his position at a technology company, conspired with Tang and Yang to defraud the company of over 140 million yuan in service provider bonuses. Feng then directed Tang and Yang to use eight overseas virtual currency trading platforms to convert the involved funds from RMB to virtual currency, obfuscating the source and nature of the funds through overseas "mixing" platforms, transferring the funds through multiple layers, with some funds flowing into accounts controlled by Feng and others in RMB, while some were hidden in virtual currency.
The procuratorial authorities conducted a line-by-line comparison and dual review of the virtual currency and fiat currency to accurately trace the flow of funds, ultimately prompting Feng to return 92 bitcoins, recovering over 89 million yuan in illicit funds, maximizing the recovery of economic losses for the victimized unit.
On September 14, 2024, the Beijing First Intermediate People's Court ruled that Feng and six others were guilty of embezzlement, sentencing them to prison terms ranging from 14 years and 6 months to 3 years, along with corresponding fines. The judgment has taken effect.
El Salvador Bitcoin Office: $1 million worth of BTC transferred to strategic reserves
The El Salvador Bitcoin Office announced on the X platform that it has transferred $1 million worth of BTC to El Salvador's strategic Bitcoin reserves.
Previous reports indicated that at 8:07 AM Beijing time, the El Salvador wallet address purchased 11 bitcoins worth $1.07 million.
Binance contracts will launch U-based and coin-based quarterly 0627 contracts for mainstream varieties such as Bitcoin and Ethereum within a few hours after the expiration of the U-based and coin-based quarterly 1227 contracts on December 27 at 16:00 (UTC+8).
Christine Kim, Vice President of Research at Galaxy, summarized the 202nd Ethereum Core Developer Execution (ACDE) conference, where developers discussed updates affecting EIP 7742, EIP 7702, EIP 2537, and EIP 2935 regarding Pectra specifications; they also discussed the launch plan for removing pre-merge historical data from clients and non-Pectra EIPs, requiring feedback from developers.
Additionally, the team is making progress in implementing Pectra Devnet 5.
According to Cryptonews, the New Zealand cryptocurrency exchange Cryptopia has begun returning millions in cryptocurrency to account holders after years of closure.
In a 2019 cyberattack, tokens worth millions of dollars were stolen from the Cryptopia platform, which subsequently filed for liquidation. At that time, the amount stolen was approximately $15.5 million. However, during the liquidation process, the platform was hacked again in 2021, with a former employee stealing $170,000 worth of cryptocurrency from a wallet linked to Cryptopia.
The exchange has repaid $400 million NZD ($224.9 million) in cryptocurrency to 10,000 verified account holders. According to the liquidator's public consultation, Bitcoin and Dogecoin account holders have received their first cryptocurrency distribution.
Cryptopia liquidator Grant Thornton noted, "Over $400 million NZD ($224.9 million) in cryptocurrency has been returned on-chain in the past 48 hours."
Data: Ethereum Foundation sold ETH 32 times in the past year, 15 times near market peaks
According to Lookonchain monitoring, since the Ethereum Foundation sold 100 ETH on December 17, the ETH price has dropped by approximately 17%. In the past year, the Ethereum Foundation has conducted 32 ETH sale transactions, totaling 4,466 ETH (approximately $12.6 million), with 15 transactions occurring near market peaks.
Zhao Changpeng: Just learned a few minutes ago that Revolut has listed BNB
Zhao Changpeng stated on X: "Just learned a few minutes ago that Revolut has listed BNB, and the community is continuously growing."
Japanese Liberal Democratic Party pushes for cryptocurrency tax reform, proposes a separate 20% tax
According to Coinpost, the Web3 working group of the Japanese Liberal Democratic Party's Digital Society Promotion Headquarters, led by member Akihisa Shiozaki, reported that the party's policy research council officially approved an "Emergency Proposal for Transforming Crypto Assets into Beneficial National Economic Assets" on the 19th.
The report indicates that under the current tax system, income generated from cryptocurrency transactions is generally classified as miscellaneous income and is subject to comprehensive taxation at a maximum rate of 55% (combined income tax and resident tax), which is harsher than in other countries. The report also mentions that the taxation of cryptocurrency assets is stricter compared to other nations.
In light of the above points, and whether cryptocurrency assets should be regarded as financial assets for public investment, the following considerations should be made:
- Change the taxation of gains and losses from cryptocurrency transactions to a "separate declaration tax" system at a 20% tax rate.
- Allow losses from cryptocurrency income to be carried forward for deduction (usable within the next three years).
- Apply the "separate declaration tax" system to cryptocurrency derivatives trading as well.
Survey: Brazilians Invest 7% to 35% of Assets in Cryptocurrency
According to Cryptonews, Brazil's top regulatory body, the Securities and Exchange Commission (CVM), recently released survey results showing that more Brazilians are investing, trading, or holding Bitcoin and other cryptocurrencies, with investors allocating 7% to 35% of their funds to purchase these tokens. This study was conducted by the CVM in 2023 and surveyed the investment behaviors of over 700 individuals.
Respondents were categorized into three types of investors: "conservative," "moderate," and "aggressive." Conservative investors allocated an average of 7.25% of their savings to cryptocurrencies, while moderate investors invested 21% of their financial product portfolios in crypto assets. Aggressive investors were the most optimistic, with cryptocurrencies making up as much as 35% of their portfolios.
Notably, about 50% of respondents considered themselves aggressive investors, indicating a strong enthusiasm for cryptocurrencies among Brazilian investors. In contrast, conservative investors had more traditional portfolios, with over 50% consisting of CDBs and RDBs, two types of fixed-income securities, and they preferred government bonds, with relatively few opting for foreign currencies.
Binance Alpha Releases Fourth Batch of Project Tokens
According to official news, Binance Alpha has released the fourth batch of project tokens, including BANANA, KOGE, BOB, MGP, PSTAKE, GNON, Shoggoth, LUCE, and ODOS.
The Web3 asset data platform RootData has launched version V1.2.2 of its app, integrating token distribution and unlock data to help investors conduct investment analysis and decision-making more efficiently.
Currently, RootData has integrated token distribution model data for over 1,000 projects and token unlock data for over 200 projects. Moving forward, RootData will continue to enrich the number of projects while adding more granular data such as investor costs and full-cycle linear release charts, and will integrate this data on the PC side.
"What are the exciting articles worth reading in the past 24 hours?"
Interview with "Meme Wizard" 0xWizard: How to Capture the Next 500 Billion-Dollar Memes
0xWizard is a crypto KOL on X with nearly 200,000 followers, known as the "Meme Wizard."
Memes can be said to be a central theme throughout this bull market cycle, even though some people find it emotionally difficult to admit.
"Bravely participate in the second wave of opportunities" is 0xWizard's motto. Based on a comprehensive understanding of bottom-up market recognition and reflections on the underlying reasons, he believes that while the bull market has begun, on-chain memes are just getting started.
"There could be another 500 billion-dollar memes in the future, but it may be hard to see another $50 billion asset." In an exclusive interview with ChainCatcher, 0xWizard stated. However, the primary and secondary gameplay of memes is completely different, and for some highly valued meme projects about to enter the secondary market, he suggests observing before building a position.
In the interview, 0xWizard also shared his methodology for capturing new tracks and narrative judgments, including the "Three Laws of Bull Market Engines" and the essence of tracks, discussing several currently popular AI memes and meme investment experiences.
On December 13, Mega Labs, the developer of the real-time blockchain MegaETH, raised $10 million on the renowned angel investment platform Echo, with shares being snapped up in just 50 seconds.
As the first "real-time" blockchain on Ethereum, MegaETH received investments from industry leaders and well-known VCs such as Vitalik Buterin, Joseph Lubin, Sreeram Kannan, Dragonfly, Figment Capital, Robot Ventures, and Big Brain Holdings in June this year. This time, MegaETH chose to forgo the opportunity to raise funds from VCs at a higher valuation. Co-founder Shuyao revealed to ChainCatcher that the new round of financing maintains the same valuation of over $100 million as in June, aiming to open the investment window equally to every community participant.
Breaking the mold is MegaETH's consistent style. While the Ethereum community discusses longevity and AI at Zuzalu, planning for ten thousand years ahead, Shuyao finds that no one is addressing the most urgent issue at hand: the lack of a sufficiently fast and cheap chain. MegaETH chooses to be an anti-hero, pulling Ethereum out of the ten-thousand-year dream, seizing the day.
Recently, the MEME market seems to have entered a cooling period. As the market and hot money flow towards mainstream coins, there have been no particularly outstanding tokens in the first half of December. Against this backdrop, a MEME coin named Fartcoin has risen against the trend, breaking through $1 billion on December 18, becoming the king of AI proxy series MEMEs.
Unlike the previously hot GOAT, Pnut, and other social hotspots, Fartcoin's rise seems to lack celebrity endorsements and social trends, making its absurd cultural core difficult for many to understand. This article analyzes Fartcoin's social media popularity and the top 1,000 holding addresses, attempting to explain how Fartcoin rose from zero to $1 billion.
Recently, with the surge of "antique coins" like XRP, news of "Korean aunts rushing into the crypto market" has spread again in the community. Meanwhile, trading volumes of related tokens like XRP and APT on South Korean exchanges such as Upbit and Bithumb even surpassed those on Binance at times. This means that the trading volume in South Korea alone for these tokens is enough to rival the total trading volume of the rest of the world.
For a long time, the crypto community has viewed listing on Upbit as a significant boon for projects, as prices often soar rapidly after a token is listed on these South Korean exchanges. This strong purchasing power has sparked curiosity about the "kimchi premium." How does the South Korean cryptocurrency market operate? What kind of speculation logic do investors here have?
Andy, a member of Frax Finance who has been engaged in crypto development and education in South Korea for many years, conducted an interview to delve into the investment logic and real situation of the South Korean crypto market.
On December 17, the Virtuals Protocol token VIRTUAL broke through 3 USDT, bringing its market cap to $3 billion. The previous week, a narrative interpretation of Solana AI titled "ARC Rapidly Reaches $30 Million Market Cap, Understanding the New AI Token Narrative" mentioned that tokens with "doing" types or those with actual products and applications in AI have seen the most rapid increases.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of December 20, 19:30:
In the past 24 hours, the top five popular Ethereum tokens are: PEPU, PEPE, LINK, DOGE, MYSTERY
In the past 24 hours, the top five popular Solana tokens are: NOJEETS, GOBLIN, SQUID2, PENGAI, UFD
In the past 24 hours, the top five popular Base tokens are: VIRTUAL, BRETT, Fretta, SKI, JESSE
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