Headline
▌OpenAI launches "full blood version" reasoning model o1 and ChatGPT Pro
OpenAI's 12-day event kicked off. On the first day of the event, OpenAI founder Sam Altman said that today's release is the "full blood version" of the reasoning model o1 and ChatGPT Pro (monthly subscription fee of $200). It is said that o1 is the smartest model in the world. Smarter, faster, and more functional (such as multimodal) than o1-preview. It is now available in ChatGPT and will be launched in the API soon. The newly launched ChatGPT Pro will be able to take full advantage of models and tools, including unlimited access to OpenAI o1 and a Pro-only version of o1.
▌JPMorgan Chase: MicroStrategy leveraged ETF's impact on the crypto market is growing
JPMorgan Chase said in a research report that the expansion of the leveraged MicroStrategy (MSTR) ETF and the capital flow it attracts have a more obvious impact on the company's stock and the crypto market than before. The bank said these ETFs played an important role in the stock's nearly 60% increase in November. The report said that the total amount of funds flowing into U.S. spot Bitcoin (BTC), spot Ethereum (ETH) and leveraged MicroStrategy ETFs in November reached nearly $11 billion, a record high, of which the leveraged MSTR ETF accounted for $3.4 billion of the total, almost one-third.
Analysts led by Nikolaos Panigirtzoglou wrote: "This highlights the growing influence of MicroStrategy's leveraged ETF in the cryptocurrency market by facilitating MicroStrategy's Bitcoin purchase plan."
Market
As of press time, according to Coingecko data:
BTC recently traded at $96,577.56, with a daily increase or decrease of -2.3%;
ETH recently traded at $3,785.55, with a daily increase or decrease of -1.1%;
BNB recently traded at $717.04, with a daily increase or decrease of -3.0%；
SOL's latest transaction price is 235.48 US dollars, with a daily increase or decrease of +2.8%；
DOGE's latest transaction price is 0.4261 yuan, with a daily increase or decrease of -1.2%；
XPR's latest transaction price is 2.27 US dollars, with a daily increase or decrease of -4.4%.
Policy
▌FOX reporter: US CFTC chairman candidates prepare to go to Trump's Mar-a-Lago for interviews next week
FOX Business reporter Eleanor Terrett posted on the X platform: "The industry's attention is now turning to who Trump will choose to lead the CFTC, another agency that will play a key role in Crypto regulation under the new administration. I heard that some candidates are preparing to go to Mar-a-Lago (Trump's residence and private club Mar-a-Lago) for interviews next week. Some of the candidates are on the list: CFTC current Republican Commissioners Mersinger and Pham, former CFTC Commissioners Jill Sommers and Brian Quintenz, former CFTC Director Josh Sterling and former CFTC General Counsel Office Special Counsel Neal Kumar and Perianne, founder of the Chamber of Digital Commerce, have also been mentioned, but it is unclear whether the new government has seriously considered her candidacy. ”
▌Florida is expected to launch a strategic Bitcoin reserve in the first quarter of 2025
According to The Street, Florida is expected to launch a strategic Bitcoin reserve in the first quarter of 2025. Samuel Armes, president of the Florida Blockchain Business Association (FBBA), said that Florida "is likely to establish a strategic Bitcoin reserve during the upcoming legislative session (which will begin in the first quarter of 2025)."
It is reported that the plan is based on Florida's existing investments in Bitcoin and crypto-related assets, which are made through its $185.7 billion pension fund, the fourth largest pension fund in the United States. Armes said: "Florida has invested in Bitcoin and crypto-related assets through our pension fund." He suggested allocating 1% of Florida's $185.7 billion pension fund, or $1.857 billion.
Blockchain Applications
▌Molecule takes the lead in establishing the DeSci Ecosystem Fund and has repurchased RIF and URO to support Pump.science
According to the official announcement of the decentralized biotechnology protocol Molecule, Molecule will cooperate with Pump.science and the DeSci project BIOProtocol to establish the DeSci Ecosystem Fund with a fund size of 166 million BIO (half of Molecule's allocation) to accelerate the listing of scientific intellectual property on the chain.
Molecule said that it has repurchased $100,000 worth of RIF and $100,000 worth of URO to reaffirm its commitment to support RIF, URO and Pump.science. The DeSci Ecosystem Fund will: fund on-chain research; support community initiatives; accelerate the listing of scientific intellectual property on the chain; and promote sustainable growth.
Cryptocurrency
▌CryptoQuant: BTC long-term holders' profit selling is a normal phenomenon in the bull market and is far from reaching extreme levels
CryptoQuant analysts said that long-term Bitcoin holders (LTH) began to profit after BTC broke through the $100,000 mark. CryptoQuant data showed a significant increase in the "Long-term Holder Spend Output Profit" ratio (LTH-SOPR), which measures the profit level of long-term Bitcoin investors by comparing the selling price of Bitcoin with the price they originally paid.
CryptoQuant head of research Julio Moreno said: "As the price of Bitcoin rises above $100,000, long-term holders (LTH) have been taking profits, as shown by the rise in LTH SOPR to 4, which indicates that the tokens sold by long-term holders have realized a profit of four times their original purchase price. However, this is normal during the Bitcoin bull market and profit-taking is still far from extreme levels."
▌Solana Co-founder: "Lucky" to be able to solve Solana engineering problems through memecoin, making it more resilient
Solana co-founder Anatoly Yakovenko said that the rise of memecoin has stress-tested the Solana network, making it more resilient, turning past disruptions into opportunities for innovation. “Just like NFTs… we’re lucky to be able to solve a whole bunch of engineering problems with memecoin, and it just makes the network and all the systems more robust,” he said.
As for the popularity of memecoin on Solana, Yakovenko said he was surprised at first, but less surprised in retrospect. “Entertainment is the biggest area of money making in almost all digital economies… When I start thinking about it, it’s almost obvious in retrospect,” he said.
▌Former U.S. Treasury Secretary Lawrence Summers slams idea of national Bitcoin reserve as ‘crazy’
Former U.S. Treasury Secretary Lawrence Summers, a Democrat, dismissed the idea of the U.S. government setting up a Bitcoin asset reserve and warned that scaling back federal spending, as “America’s first buddy” Musk plans, will face political challenges.
"The idea that some people are saying, 'We should have some kind of national Bitcoin reserve,' is crazy," Lawrence Summers said on the TV show. "There's no reason to do that except to cater to generous special interest campaign donors." The former Treasury Secretary said that while Musk's goal is to save $2 trillion in spending, the entire federal government's salary is less than that. He emphasized that most of the government's spending is related to defense and support for older Americans, which is politically difficult to change.
▌The entire network has exploded $1.098 billion in the past 24 hours, and long orders have exploded $816 million
Coinglass data shows that the entire network has exploded $1.098 billion in the past 24 hours, long orders have exploded $816 million, and short orders have exploded $282 million. Binance shows that Bitcoin fell to a minimum of $90,500 and is now reported at $97,387.
▌The crypto market experienced huge fluctuations around 6:30 this morning
The crypto market experienced huge fluctuations around 6:30 this morning. BTC fell from around $98,000 to around $91,000, and then quickly rebounded to $96,000, with a fluctuation of more than $7,000 in 10 minutes. ETH fell from around $3,820 to around $3,670, and then quickly rebounded to $3,810, with a fluctuation of more than $100 in 10 minutes.
Important Economic Dynamics
▌New York Fed Research: Trump's first term tariffs caused losses to US companies, and the benefits of tariffs are difficult to achieve
The latest analysis by the New York Fed staff shows that during the first term of US President-elect Trump, US corporate stock prices generally fell on the day the tariffs were announced, and they were closely related to the decline in future profits, sales and employment of companies with the worst stock price hit. "An important motivation for imposing tariffs on imported goods is to protect US companies from foreign competition. By taxing imported goods, the prices of domestically produced goods become relatively cheaper, and Americans' spending will shift from imported goods to domestically produced goods," economists such as Mary Amiti, head of the labor and product market research department of the New York Fed research group, wrote in the analysis report. But "most companies' stock prices fell sharply on the day the tariffs were announced. Our documents also show that these financial losses ultimately translate into future profits, employment, sales and labor productivity declines." According to a study by the New York Fed research team, "the benefits of tariffs are difficult to realize because of the complexity of global supply chains and foreign countries' retaliation." It is estimated that the trade war during the first term of the Trump administration has worsened the economic situation of businesses and households by about 3%.
Golden Encyclopedia
▌What is chain abstraction?
Chain abstraction is a concept that simplifies the user experience of blockchain technology and unifies transactions across multiple networks. Blockchain chain abstraction aims to solve this problem by hiding or "abstracting" the technology from users. This means that people don't know that they are using a blockchain or which blockchain they are using. Chain abstraction works by providing a single interface that enables users and developers to interact with multiple blockchains without having to manage the complexity of each individual chain.
Disclaimer: As a blockchain information platform, the content of the articles published by Jinse Finance is for information reference only and is not intended as actual investment advice. Please establish the correct investment concept and be sure to enhance risk awareness.
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