FTX officially announced that its bankruptcy plan has taken effect. Bitcoin hash rate hits a record high

Headlines

▌FTX officially announced that the bankruptcy plan has taken effect, and the first batch of compensation is expected to be made within 60 days

FTX officially announced that the bankruptcy plan has officially taken effect on January 3, local time. According to the previously disclosed bankruptcy plan, the first batch of compensation is expected to be made within 60 days.

▌Bitcoin hash rate hits a record high

According to CoinWarz data, the Bitcoin hash rate (the total computing power that protects the Bitcoin network) reached a record high of 1,000 EH/s on January 3, which is almost twice the network hash rate 12 months ago. CoinWarz data shows that in January 2024, Bitcoin's hash rate hovered around 510 EH/s. As of press time, Bitcoin’s hash rate has fallen back to around 780 EH/s.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $97,962.02, with a daily increase or decrease of +1.4%;

ETH's latest transaction price is $3,592.82, with a daily increase or decrease of +4.2%;

BNB's latest transaction price is $717.33, with a daily increase or decrease of +2.3%；

SOL's latest transaction price is 217.45 US dollars, and its intraday increase or decrease is +5.7%；

DOGE's latest transaction price is 0.3814 yuan, and its intraday increase or decrease is +13.3%；

XPR's latest transaction price is 2.44 US dollars, and its intraday increase or decrease is +1.1%.

Policy

▌Korea Exchange Chairman: Interested in launching cryptocurrency ETF in 2025

Eun-Bo Jeong, chairman of the Korea Exchange (KEX, a stock exchange), expressed interest in launching a cryptocurrency-based ETF this year to meet global demand for such products. At the opening ceremony of the Securities and Derivatives Market on January 2, Eun-Bo Jeong emphasized the importance of innovative financial products for revitalizing South Korea's capital market.

Blockchain Applications

▌Bio Protocol January Roadmap: Cross-chain to Solana and Base, release launch platform contract

Bio Protocol co-founder Paul Kohhaas released the Bio Protocol January roadmap, including: Introducing 10 new DAOs; Release Rust and EVM launch platform contracts; Cross-chain BIO to Solana and Base networks; Launch the genesis projects of Curetopia and Long COVID Labs; Launch DeFi liquidity pairing; Release DeScAI proxy MVP (in cooperation with Vita Dao); Conduct the token generation event (TGE) of Quantum Biology DAO; Launch platform audit. Coinbase is considering offering tokenized shares of its stock to U.S. users of its Ethereum Layer 2 network Base, Base developer Jesse Pollak said in a post on Platform X. Pollak said non-U.S. users can already get tokenized COIN shares through protocols such as Backed (a tokenized RWA platform), and implementing COIN on Base is "something we're looking into in the new year," adding that eventually "every asset in the world will be implemented on Base." Jesse Pollak added that Coinbase "has no concrete plans yet" and is currently in the "exploratory phase" as the exchange works to understand how to comply with U.S. regulations.

Cryptocurrency

▌UNI breaks through $15

The market shows that UNI broke through $15 and is now at $15.01, with a 24-hour increase of 6.08%. The market fluctuates greatly, so please do a good job of risk control.

▌Polymarket's cumulative trading volume exceeded $9 billion in 2024

The Block's aggregated data shows that in 2024, the prediction market platform Polymarket achieved exponential growth in multiple indicators, including active traders, trading volume and open interest (OI), and reached an all-time high earlier this year. The platform has accumulated a trading volume of over $9 billion, with monthly trading volume reaching an all-time high of $2.63 billion in November alone; the number of active traders reached a new high of 314,500 in December; and open interest (OI) hit a record high of $510 million during the US election in November. Polymarket's monthly trading volume growth rate for the whole year was 66.5%. In January 2024, Polymarket's trading volume was only $54 million, but by November, this figure had risen to more than $2.6 billion, an increase of nearly 48 times in one year.

▌A new wallet has withdrawn 84 million PENGU from Binance, worth $3.05 million

According to OnchainLens monitoring, a newly created wallet has withdrawn 84 million PENGU from Binance, worth $3.05 million.

▌Babylon official account was stolen this morning, users please do not click on any links

On January 4, social media news, Babylon official X account was stolen this morning. At present, the tweets with phishing links posted by the account have been deleted, but it is temporarily impossible to confirm whether the control of the account has been regained. Please do not click on any links posted by the account.

▌Coinbase CEO sold $636 million of COIN stock last year, and Michael Saylor sold $410.8 million of MicroStrategy stock

According to the insider stock sales disclosed by the top 60 companies in the S&P 500 index in 2024, about 500 insiders, executives, investors and other major shareholders sold a total of $36.9 billion worth of company stocks, with Amazon Executive Chairman Jeff Bezos accounting for more than a third of the total ($13.4 billion). Four crypto executives made the top 25: Coinbase CEO Brian Armstrong ranked 8th with $636 million; MicroStrategy's Michael Saylor ranked 13th with $410.8 million; Coinbase co-founder Fred Ehrsam ranked 22nd with a total of $203.8 million, a figure that includes COIN shares sold by his trust as well as his fund Paradigm; Following Ehrsam is Coinbase COO Emilie Choi, who joined the company from LinkedIn in 2018, with $186.4 million.

▌Cango enters Bitcoin mining, may become one of the world's largest miners

Car trading service provider Cango entered the Bitcoin mining field in November. The company spent $400 million to obtain 50 EH/s of computing power, immediately becoming one of the world's largest miners. Bitcoin's computing power currently hovers at 823 EH/s. Once Cango's 50 EH/s is fully online, it will provide about 6% of the computing power behind Bitcoin. For reference, the world's largest listed miner MARA Holdings (MARA) has a computing power of just over 47 EH/s, and the second largest CleanSpark (CLSK) and Riot Platforms (RIOT) have 32 EH/s and 26 EH/s respectively.

Important Economic Dynamics

▌Federal Reserve Board Member KUGLER: US Job Market Remains Resilient

Federal Reserve Board Member KUGLER said that the economic situation in 2024 is good, the US job market remains resilient, and has been gradually cooling down; workers' real wages have increased; the unemployment rate of 4.2% is still at a historically low level, and the job market is stable, and it is hoped that this state will be maintained.

▌US ISM Manufacturing PMI rose slightly in December

The US ISM Manufacturing PMI in December rose for the second consecutive month in December last year, and both orders and production rebounded, indicating that the dark clouds hanging over the manufacturing industry may begin to dissipate. According to output indicators, the recovery in demand helped achieve the first monthly increase in output since May. Meanwhile, surveys show that more producers are laying off workers at a faster pace. The employment index fell to 45.3 in December, a drop of nearly 3 points, the largest since July last year. Of the five indicators that make up the overall PMI index, the rest of the indicators have improved. Timothy Fiore, chairman of the ISM Manufacturing Business Survey Committee, said: "Demand has improved, and production execution has met November's performance and corporate goals; layoffs are continuing, but should end soon, and price growth has been minimal."

▌Fed Barkin: Uncertainty in financial markets seems to have declined

Fed Barkin said that uncertainty in financial markets seems to have declined, and the market's forecast for the policy path is consistent with the Fed's median expectations. There is a growing recognition that long-term interest rates may not fall as sharply as once hoped.

▌Fed Barkin: The basic outlook for 2025 is positive, and the upside risks to growth outweigh the downside risks

Fed Barkin said that the basic outlook for 2025 is positive, and the upside risks to growth outweigh the downside risks. Inflation has not yet returned to the target level, and more efforts are still needed; there are some potential upside risks to inflation. The story of 2025 will focus less on monetary policy and more on economic fundamentals, and perhaps geopolitics.

▌Offshore RMB fell 180 points against the US dollar from Thursday's New York closing

The offshore RMB (CNH) against the US dollar was reported at 7.3583 yuan at 05:59 Beijing time, down 180 points from Thursday's New York closing, and the overall trading range during the day was 7.3244-7.3629 yuan. The onshore RMB against the US dollar (CNY) closed at 7.3216 yuan at 03:00 Beijing time, down 222 points from the closing price on Thursday night. The trading volume was 47.403 billion US dollars.

Golden Encyclopedia

▌What is compressed NFT?

CNFT is a newer non-fungible token that uses state compression technology to store data more efficiently on Solana. Unlike traditional NFTs that store all token metadata directly on the chain or through external links such as IPFS, cNFT uses Merkle trees to optimize data storage.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.