Headlines
▌German government "sold" Bitcoin and missed $2.03 billion in potential profits
According to Arkham data, the 49,858 Bitcoins previously held by the German government are currently worth $4.92 billion. The German government sold its Bitcoin holdings in July this year for $2.89 billion, with an average price of $57,900, missing out on $2.03 billion in potential profits.
▌South Korean virtual asset platform Delio declared bankruptcy, owing $1.75 billion
South Korean virtual asset deposit platform Delio was declared bankrupt by the Seoul court. Delio suspended withdrawals last year and owed customers 245 billion won (US$1.75 billion). It will start the liquidation procedure, and customers can claim before February 21, 2025. The first creditors' meeting will be held on March 19. Most of the platform's assets are stored in the FTX account. After FTX went bankrupt, it was unable to recover the assets and return customer assets, affecting about 2,800 customers.
Market
As of press time, according to Coingecko data:
BTC's latest transaction price is $98,581.17, with a daily increase or decrease of +0.5%;
ETH's latest transaction price is $3,339.07, with a daily increase or decrease of +0.6%;
BNB's latest transaction price is $638.06, with a daily increase or decrease of +1.8%；
SOL's latest transaction price is 255.80 US dollars, with a daily increase or decrease of +0.0%；
DOGE's latest transaction price is 0.4064 yuan, with a daily increase or decrease of +6.1%；
XPR's latest transaction price is 1.58 US dollars, with a daily increase or decrease of +18.3%.
Policy
▌Another SEC member announces early resignation, Republicans will have a majority at the agency
Jaime Lizarraga, a Democratic member of the five-member SEC committee, said he would step down more than two years early, leaving the committee with only two Republicans and one Democrat after the Trump administration takes office in January next year. Lizarraga, a former aide to former House Speaker Pelosi, was awarded a five-year term at the SEC in 2022; in announcing the decision, he cited his wife's poor health. The day before, SEC Chairman Gensler announced that he would leave the SEC on the day Trump is scheduled to take office. With Lizarraga's departure, Republicans will outnumber Democrats at the agency from the first day of the new administration, which could enhance their ability to take very different paths on policy issues such as regulating cryptocurrencies and pursuing enforcement cases.
▌After Trump returns to the White House, there may be only one Democrat left on the five-member SEC committee
According to Bloomberg, Jaime Lizarraga, a former congressional aide who helped promote corporate reporting requirements on climate risks and data breaches while regulating Wall Street, intends to resign on January 17. The day before Lizarraga announced the decision, SEC Chairman Gary Gensler said he planned to leave on January 20.
Bloomberg said that after President-elect Donald Trump returns to the White House, Caroline Crenshaw will become the only Democrat on the SEC's five-member committee, serving with Republicans Hester Peirce and Mark Uyeda.
Note: The U.S. Securities and Exchange Commission (SEC) has five commissioners (core decision-making layer) because the president appoints commissioners with the consent of the Senate, and no more than three members of the same political party can be from the same party. The five commissioners are set up to balance the demands of different stakeholders, including investors, issuers, exchanges, etc. With a smaller committee, decision-making efficiency can be improved and lengthy discussions can be avoided.
▌Fox reporter: Trump may choose two Democrats who are more consistent with his policies as SEC commissioners
Fox reporter Eleanor Terrett said on the X platform that Democratic SEC Commissioner Jaime Lizarraga will resign on January 17, and after Trump takes office, there will be only one Democrat, Caroline Crenshaw, left on the committee. This means that there will be three vacant seats to be filled by January 20. This also means that before these nominees are confirmed, Republicans in the SEC will have a 2-1 majority (Uyeda and Peirce are Republicans, and Crenshaw is a Democrat).
Trump may choose two Democrats who are more consistent with his policies. Past precedents have been that the minority party recommends minority candidates to the president, which makes the confirmation process easier, but the president is not obliged to adopt this recommendation.
Trump can also choose to appoint independents to these positions. The rule is that the committee cannot have more than three members from the same party as the president. For example, Jay Clayton, the former chairman during Trump's first term, is an independent.
▌Teresa, a candidate for the chairman of the US SEC, calls for "making cryptocurrencies great again"
Teresa Goody Guillen, a crypto lawyer and partner at Baker Hostetler who once worked at the SEC, called for "making cryptocurrencies great again."
Previously, people familiar with the matter revealed that the Trump team considered appointing Teresa Goody Guillen as the chairman of the SEC.
▌Trump has chosen Scott Bessent as the next US Treasury Secretary
Forbes reporter Eleanor Terrett posted on the X platform that Trump has chosen George Soros' former fund manager Scott Bessent as the next US Treasury Secretary.
Blockchain Application
▌The US CFTC has approved the use of blockchain technology to manage trading collateral in the derivatives market
According to a report released by the Global Markets Advisory Committee of the US Commodity Futures Trading Commission (CFTC) on November 21, the CFTC has approved the use of blockchain technology to manage trading collateral in the US derivatives market. The report said that blockchain technology (including distributed ledgers and tokenization) can solve long-standing challenges of traditional derivatives exchanges and expand the types of assets that can be used for collateral trading.
Cryptocurrency
▌Mara Holdings: Bought 5,771 BTC through convertible note issuance
Bitcoin mining company Mara Holdings said on the X platform that it has acquired 5,771 BTC so far through a 0% convertible note issuance, with an average price of $95,554 per coin. The total amount of BTC held by Mara Holdings is approximately 33,875 BTC, currently worth $3.4 billion (based on the spot BTC price of $99,000).
It was previously reported that Mara Holdings has completed the issuance of $1 billion in convertible senior notes, with an expiration date of March 1, 2030.
▌143,012 ETH transferred from unknown wallet to Coinbase, worth more than $473 million
According to the on-chain data tracking service Whale Alert, 143,012 ETH ($473,934,082) was transferred from an unknown wallet to Coinbase at around 7:05 a.m. Beijing time.
▌Former Coatue Management executives co-founded a new venture capital firm to raise $500 million
According to Bloomberg, citing people familiar with the matter, Michael Gilroy, the former financial technology director of cryptocurrency-friendly investment firm Coatue Management, is co-founding a new venture capital firm. Gilroy is working with technology investor and current board member of cryptocurrency exchange Coinbase, Gokul Rajaram, to raise up to $500 million for the company's first fund. The two are discussing fundraising with anchor investors, but fundraising will not officially begin until 2025.
Although Gilroy and Rajaram have not yet named their new company, Bloomberg reported that the company will focus on investing in early-stage financial technology and software companies in the United States.
Important Economic Dynamics
▌The three major U.S. stock indexes closed higher, and Tesla hit a new high since April 2022
The three major U.S. stock indexes closed higher, with the Dow up 0.97% and a cumulative increase of 1.96% this week; the S&P 500 rose 0.35% and a cumulative increase of 1.68% this week; the Nasdaq rose 0.16% and a cumulative increase of 1.73% this week. Large technology stocks rose and fell, with Tesla up nearly 4%, Microsoft up 1%, Apple, Netflix, and Intel up slightly; Nvidia fell more than 3%, Google fell more than 1%, and Amazon and Meta fell slightly. Among them, Tesla hit a new high since April 2022, with a total market value of $1.13 trillion; Netflix continued to hit a new high for five consecutive trading days.
▌Federal Reserve: Stablecoin assets have grown significantly since the April report
According to the Federal Reserve, stablecoin assets have grown significantly since the April report. U.S. debt sustainability poses a top financial stability risk. Hedge fund leverage has reached its highest level since 2013, or near such a level.
Golden Encyclopedia
▌What is Dogwifhat (WIF)?
Launched in November 2023, Dogwifhat is a Solana-based memecoin featuring a Shiba Inu wearing a pink knitted hat. Rather than positioning itself as a symbol of progress or a vision for the future, WIF has kept it simple, embracing its meme identity without any grand ambitions. Even the code “WIF” is misspelled with “with,” a typical meme form that highlights the fun nature of the token.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for informational reference only and not as actual investment advice. Please establish the correct investment philosophy and be sure to increase risk awareness.
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