Headlines
▌India issues compliance “show cause” notices to nine offshore exchanges including Binance and KuCoin
India’s Financial Intelligence Agency issued a document announcing that it has issued compliance “show cause” notices to nine offshore exchanges under the Prevention of Money Laundering Act (PMLA), including Binance, Kucoin, and Huobi HTX, Kraken, Gate.io, Bittrex, Bitstamp, MEXC and Bitfinex, and have written to the Secretary of the Ministry of Electronics and Information Technology of India requesting that the websites of these exchanges be blocked.
▌Celsius received court approval to transform into a Bitcoin mining company with an initial capital of US$225 million
A U.S. bankruptcy judge approved crypto lending company Celsius Network’s plan to transform into a Bitcoin mining company, and approved Celsius and its associated debtors to implement the “MiningCo transaction” as part of Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Code. This involves the formation of a public company focused on Bitcoin mining with initial capital of $225 million, the transfer of certain mining assets to NewCo, excluding the Core Rhodium, Mawson and Luxor assets, and the return of more cryptocurrencies from Celsiu to customers, customers It will also receive an equity stake in the new Bitcoin mining operation.
Quotes
As of press time, according to coinmarketcap data:
The recent transaction price of BTC was 42,590.2 US dollars, with fluctuations during the day. Frame+0.35%;
ETH Recent The transaction price was US$2346.17, and the intraday increase or decrease-0.56%;
BNB The recent transaction price was US$323, with intraday changes -1.73%;
XRP’s recent transaction price was US$0.6348, with intraday gains and losses+0.81% ;
The recent transaction price of DOGE was US$0.0917, with an intraday increase or decrease of +0.46% ;
ADA’s recent transaction price was US$0.6162, with an intraday increase or decrease of -0.13 %;
SOL’s recent transaction price was US$101.83, with intraday gains and losses+2.06%.
Policy
▌U.S. judge rules over the issuance and sale of unregistered securities by Terraform Labs and Do Kwon A U.S. judge ruled in favor of the SEC on charges that Terraform Labs and its founder Do Kwon issued and sold unregistered securities, a court filing shows. . The SEC alleges that Terraform Labs and Kwon "orchestrated a multi-billion dollar fraud involving the development, marketing and sale of various cryptocurrencies." The Court granted the SEC summary judgment on Count IV of the Amended Complaint, which related to Defendants’ unregistered offer and sale of LUNA and MIR Tokens in violation of Sections 5(a) and (5c) of the Securities Act, which it Summary judgment was also granted against the defendants on "Counts Five and Six of the Amended Indictment, relating to alleged unregistered securities-based swap offers and transactions."
▌U.S. Congressman Tom Emmer and Warren co-signed the bill to fire the SEC Chairman
< p> U.S. Congressman and Majority Whip Tom Emmer announced today that he and Ohio Congressman Warren Davidson have co-signed a new bill to fire SEC Chairman Gary Gensler.
Emmer is one of many lawmakers who opposes Gensler and the SEC's enforcement oversight of the future of finance, especially cryptocurrencies, and has previously called the SEC chairman "incompetent." Davidson said 2024 would be the best time to fire Gensler.
▌SEC charges a U.S. resident with fraudulent crypto investments and securities offerings
The U.S. Securities and Exchange Commission released on Thursday According to the lawsuit announcement, former New Jersey resident Diana Mae Fernandez engaged in fraudulent crypto investments and securities offerings. She claimed to invest client funds in cryptocurrencies, private and public companies, and luxury real estate, promising returns of up to 63%. The funds are actually used for personal use. The resident raised approximately $364,000 from at least 20 investors through entities called The Self-Made Success and Diana Mae K., LLC.
Blockchain Application
▌Web3 Game Protocol Saga It is planned to launch the mainnet and conduct token airdrops in the first quarter of 2024
Web3 game protocol and game blockchain network Saga CEO Rebecca Liao revealed that the Saga mainnet is planned to be launched in the spring of 2024 Online, according to Saga’s social media reports, the mainnet is planned to be launched in the first quarter and will also have multiple airdrops. It is reported that Saga has launched “play-to-airdrop” activities in multiple games running on the testnet. SAGA tokens are provided to top-ranked players. Saga completed a new round of financing of US$5 million led by Placeholder last month, bringing the current total financing to US$13.5 million.
▌Pocket Network: Shannon upgrade will be deployed to the testnet in the first quarter
RPC base layer provider Pocket Network said that its early access program will be officially launched in January and the next batch of businesses will be established on the POKT network. The Shannon upgrade will be deployed to the test network in the first quarter. , will be deployed to the mainnet in the second quarter, and the upgrade will be built on Celestia.
Cryptocurrency
▌Cyberport CEO Ren Jingxin: Digital currency will become “ "Smart money", optimistic about the Web3 insurance industry
The outgoing CEO of Hong Kong Cyberport, Ren Jingxin, said in the latest interview that the biggest change in Web3 is in data, how to use the data we generate ourselves You have full control over it, and the ownership of data assets will change many different applications. Simply talking about practical applications, such as smart contracts, digital currency is actually a type of smart contract. In the future, digital currency can become a smart currency. In addition, Ren Jingxin also said that in addition to the financial field and industrial applications promoted by the Hong Kong government, the insurance industry will have good development. On the one hand, as more and more virtual assets develop, different insurance products may come out to reduce the risks of virtual assets. On the other hand, integrating blockchain technology into the insurance industry process can reduce costs. Cyberport is preparing to launch a Web3 pilot plan that will fund companies to participate in digital assets, insurance and other services.
▌Former Bloomberg analyst: Cryptocurrencies may account for 20% of technology stock market value in 2025
Former Bloomberg Intelligence analyst Jamie Coutts CMT published an article on the X platform saying that by the end of 2025, technology stocks are expected to account for 25% of the total global stock market, a number that has doubled in the past ten years. By 2025, cryptocurrencies are expected to account for 20% of the value of technology stocks (a five-fold increase in five years).
Jamie Coutts believes that technology stocks and cryptocurrencies should become the largest overweight holdings in the portfolio for at least the next 1-2 years until the liquidity cycle turns.
▌Russian mining company BitCluster is building a 120MW BTC mining farm in Ethiopia
BitCluster, a Russian Bitcoin mining solution provider, is launching operations in Ethiopia and will build a 120-MW large-scale mining farm in Addis Ababa, which will be fully powered by Africa’s largest hydropower project, Grand Ethiopian Renaissance (capacity 5.15GW). Powered by renewable energy.
▌Bitfinex Report: Global Cryptocurrency Users May Reach 2024 950 million
Bitfinex released a special outlook report for 2024. The report believes that the global cryptocurrency user base is soaring and may reach 950 million by 2024. Each new user represents a step forward. A step towards a more inclusive financial world. The rise in Bitcoin adoption proves that it is increasingly more than just a currency, it is a tool for social change, reshaping the way people think about and use money.
▌Canadian Crypto Exchange Catalyx suspends trading and withdrawals due to "security breach"
CatalX CTX Ltd, the company behind Canadian cryptocurrency exchange Catalyx, announced that it has suspended all trading, deposits and withdrawals due to a security breach that resulted in the loss of some customer funds. Withdraw money. CatalX CTX said in a press release that it has launched an investigation into the incident, which may have involved an employee, with an undisclosed amount of damage.
Last week, Canadian regulators ordered Catalyx to cease all cryptocurrency contract trading and launched an investigation into the company.
▌CoinEx CEO: The goal is to become a utility provider for crypto users
CoinEx CEO Haipo Yang said in the interview , whose exchange aims to become a utility provider for crypto users. There is a high probability that the entire industry will usher in a bull market in the next few years. As Bitcoin and Ethereum (ETH) enter the ETF market, more funds will flow into the industry. This plays a vital role in the penetration of the industry, which is likely to become larger and provide channels for those who are interested.
Important Economic Trends
▌Ministry of Commerce: Cultivate new momentum for foreign trade, research and reserve new Policy Measures
Xu Xingfeng, Director of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce, said in an interview that in 2024, we will resolutely implement the spirit of the Central Economic Work Conference, cultivate new momentum for foreign trade, and consolidate foreign trade and foreign investment. The fundamentals will promote the stabilization and improvement of foreign trade. Introduce new policies. We will continue to work with various local departments to implement various policies that have been introduced to stabilize foreign trade. At the same time, in response to the new situation and new tasks, we will study and reserve new policies and measures, promote their introduction in a timely manner, and do a good job in publicity and interpretation. (People's Daily)
Golden Encyclopedia
▌What is a full node?
All miners are full nodes, but not all full nodes are miners. Miners are the producers of blocks, while full nodes are the librarians of the blockchain network. Full nodes maintain a complete copy of the blockchain, ensuring that every transaction complies with network rules. They verify the legality of transactions and blocks and reject transactions and blocks that violate the rules. Non-mining full nodes do not create new blocks, but play an important role in maintaining the integrity of the network. They check the work of miners and ensure that network consensus rules are followed.
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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