According to Odaily, Sky, formerly known as MakerDAO, is under scrutiny for its management of a $756 million USDC reserve within its streamlined Peg Stability Module (PSM). The controversy arises from the use of an external account (EOA) to oversee these reserves, sparking concerns about security and transparency. Critics argue that this custodial approach could expose the funds to potential attacks or internal misuse. The reliance on an EOA for managing such a significant amount of digital currency has raised alarms among industry observers who emphasize the importance of robust security measures and transparent operations in the management of digital assets. The debate highlights the ongoing challenges faced by decentralized finance platforms in balancing operational efficiency with the need for stringent security protocols. The concerns underscore the broader issues within the cryptocurrency sector, where the management of large reserves often comes under intense scrutiny. As the industry continues to evolve, the emphasis on secure and transparent practices remains paramount to maintaining trust and stability in digital financial systems.

Sky (formerly MakerDAO) has raised questions about security and transparency for using an external account (EOA) to manage its $756 million USDC reserve within its Peg Stable Module (PSM). Critics argue that this custodial model could leave funds vulnerable to potential attacks or internal abuse. (Cointelegraph)

For newcomers to the Web3 industry, airdrops are a good way to learn.

In the Odaily x Vana Space on "How Vana Token can achieve wealth transformation of personal data", regarding "How Vana can simplify access to high-quality data sets for AI researchers and developers", Art Abal, a member of the Vana Foundation, said: The biggest problem with the data economy is the exploitation of both buyers and contributors. Many organizations sell user data at high prices, but users themselves cannot obtain value. Vana has created a way to directly connect the community and data demanders, no longer having the role of a middleman, and re-changing the process and operating paradigm between the two, eliminating the exploitation of middlemen.

According to the official announcement, Binance Financial Management, One-Click Coin Buying, Flash Exchange Trading Platform, Leverage, Fixed Investment Platform and Binance Contracts will launch Across Protocol (ACX) and Orca (ORCA). Among them, Binance will launch ACX 1-75x U-based perpetual contracts and ORCA 1-75x U-based perpetual contracts at 23:00 on December 6, 2024 (Eastern Time Zone 8).

A widely followed cryptocurrency analyst and trader is leaning bullish on the second-largest memecoin by market capitalization. The analyst pseudonymously known as Bluntz tells his 302,600 followers on the social media platform X that a “god candle”, a massive candlestick denoting a rapid and sustained upward price action, is loading for Shiba Inu (SHIB) as […] The post ‘God Candle Loading’:... source: https://dailyhodl.com/2024/12/06/god-candle-loading-top-analyst-says-retail-investors-primed-to-trigger-rally-in-one-dogecoin-competitor/

Even a "quite strong" U.S. jobs report on Friday may not stop the Federal Reserve from cutting interest rates this month, according to Russ Brownback, head of global macro strategy for fixed income at BlackRock. Despite evidence of continued economic growth, somewhat sticky inflation and stocks near all-time highs, traders on Thursday morning expected that the Fed would most likely decide to cut its benchmark rate by 25 basis points from its current range of 4.5% to 4.75% later this month. Brownback said one reason for the rate cut could be that the Fed's "actual" policy rate, adjusted for core PCE, is currently higher than it was in July 2023, when the Fed made its last rate hike to curb high inflation. (Jinshi)

According to ShibDaily, Rep. French Hill has announced plans to investigate the difficulties faced by cryptocurrency businesses in accessing banking services. This announcement comes amid growing allegations of regulatory bias against the crypto industry. During a December 3 hearing focused on financial technology, Hill, who is a leading candidate to chair the House Financial Services Committee next year, expressed concerns about regulatory practices that may be adversely affecting the crypto sector. Hill's decision to intensify investigations follows claims that regulators are deliberately targeting cryptocurrency businesses by restricting their access to banking services, a practice often referred to as "debanking." These alleged actions have left many crypto companies struggling to maintain essential financial relationships. Marc Andreessen, co-founder of the venture capital firm a16z, claimed on Joe Rogan's podcast that the U.S. government has pressured banks to close accounts linked to cryptocurrency and other industries. Hill emphasized the importance of allowing legal businesses in the United States to have the freedom to access banking and financial services, stating, "We have the documents, we’re reviewing. We’re going to continue that review through the end of this Congress and into the next Congress." During the hearing, Hill questioned Stellar Development Foundation CEO Denelle Dixon and Anchorage Digital CEO Nathan McCauley about their experiences with "debanking." Both executives confirmed they had encountered challenges, with Dixon explaining that her organization had to approach multiple banks after losing access to services. The Federal Deposit Insurance Corporation (FDIC) stated in its 2024 Risk Review report that it, along with other regulatory agencies, continues to emphasize that banking organizations are neither prohibited nor discouraged from providing banking services to customers of any specific class or type. In July 2024, the Federal Reserve issued a joint statement with the FDIC and the Office of the Comptroller of the Currency (OCC), reiterating that banks are neither prohibited nor discouraged from offering banking services to customers of any specific class or type, as permitted by law or regulation.

According to ShibDaily, a Manhattan judge has sentenced David Brend, a cryptocurrency salesman and promoter of IcomTech, to 10 years in prison following his conviction for conspiracy to commit wire fraud. Brend was found guilty for his role in promoting the fraudulent cryptocurrency mining and trading platform, IcomTech, in March 2024. On December 2, Judge Jennifer Rochon of the U.S. District Court for the Southern District of New York handed down the sentence, requiring Brend to serve his time at the Federal Prison Camp in Pensacola, Florida. This sentencing follows the conviction of another IcomTech promoter, Gustavo Rodriguez, who received an eight-year prison term about a month earlier. Judge Rochon highlighted that the severe sentences were intended to deter others from engaging in similar fraudulent activities within the cryptocurrency sector. The U.S. Attorney’s Office for the Southern District of New York reported that Brend collaborated with David Carmona to operate IcomTech, which falsely promised investors guaranteed daily returns. Prosecutors revealed that the funds from investors were misused to pay other victims, further promoting the scheme and enriching the perpetrators, with no actual cryptocurrency mining taking place. Brend played a significant role as a "face-to-face salesman" for IcomTech, actively promoting the fraudulent platform and its deceptive promises of high returns. U.S. Attorney Damian Williams stated that Brend and Rodriguez, along with others, defrauded thousands of individuals out of millions of dollars. The promoters enhanced their scam by attending expos in luxury cars and wearing expensive clothing, creating a facade of wealth to lure investors into believing in the company's ability to deliver substantial returns. Brend also traveled across the country to persuade potential victims to invest in the platform, promising them "financial freedom" through its investment products. The indictment described IcomTech as a Ponzi scheme that defrauded users of over $8 million between 2018 and 2019. In 2022, David Carmona, identified as the alleged "mastermind" behind the IcomTech Ponzi scheme, was arrested and sentenced to 10 years in prison in October. Similarly, the former CEO of the company, Marco Ochoa, was sentenced to five years in January 2024 after pleading guilty to conspiracy to commit wire fraud. As part of his sentence, Brend has been ordered to pay $40,000 in forfeiture and is required to surrender to prison authorities on December 16.

According to ShibDaily, Sam Altman, CEO of OpenAI, has commented on the lawsuit filed by The New York Times against the AI company, alleging copyright infringement. During an interview with Andrew Ross Sorkin at the New York Times' DealBook Summit, Altman refrained from discussing the specifics of the case but expressed his broader views. He stated, "I don’t believe in showing up in someone else’s house as a guest and being rude," while also suggesting that The New York Times might be on the "wrong side of history." The lawsuit, initiated by The New York Times in June 2023, accuses OpenAI of using its articles and copyrighted content without permission to train its language models, including ChatGPT. Ian Crosby, a partner at Susman Godfrey and lead counsel for The New York Times, acknowledged Altman's recognition of the importance of compensating creators such as writers, photographers, and artists for their work. The newspaper claims that OpenAI's models, which generate text based on trained information, rely on copyrighted content without providing compensation to the original creators. OpenAI has countered these allegations by arguing that the data used for training models like ChatGPT is sourced from a wide range of publicly accessible material, which they claim does not constitute copyright infringement. The New York Times' attorneys argue that OpenAI gave particular emphasis to the newspaper's content when building their language models, indicating a preference for these works. OpenAI disputes this, suggesting that the newspaper crafted its prompts to elicit responses from ChatGPT that would support its case. To prevent future copyright disputes involving AI, Sam Altman emphasized the necessity of a fair system that compensates creators for the use of their work and likeness. He proposed an opt-in system where creators could receive micropayments whenever their name, likeness, or distinctive style is used to generate content. This approach aims to balance the interests of AI developers and content creators, ensuring that creators are fairly compensated for their contributions.

Economists expect the November nonfarm payrolls report to show that the U.S. created 200,000 jobs in November, compared with only 12,000 jobs added in October due to the impact of two hurricanes and the Boeing strike. The unemployment rate may rise slightly to 4.2% in November compared with the 4.1% unemployment rate in October. Meanwhile, average hourly earnings are expected to increase by 3.9% in November after an increase of 4.0% in October. Powell said at an event this week that there is no need to rush to cut interest rates as the economy is still growing, the job market is stable, and inflation is still above the 2% target. Looking ahead to the November nonfarm report, analysts at TD Securities said that 75,000 jobs are expected to return to the mean in November as the impact of the two hurricanes gradually subside. In addition, the unemployment rate is expected to rise by 0.1% to 4.2%, while the monthly rate of hourly earnings may fall to 0.2% after a sharp increase of 0.4% in October. (Jinshi)

ACT and BNB hit new highs and set off a market boom: Data reveals the effect of Binance listing. Golden Finance analyzes Binance’s new coin yield performance in November and its listing strategy.

Recommended readings tonight: 1. Who is David Sacks, the first "crypto and AI czar" in the United States? What projects has he invested in? 2. Pantera: The trillion-dollar stablecoin market - stacks and future opportunities; 3. BTC breaks through $100,000, and the altcoin season has arrived;

With the development of blockchain technology and the crypto market, Meme coins have gradually become an important part of crypto assets. LBank Labs, MetaEra and Bee Network jointly released the "Top Ten Popular Meme Coins in 2024".

Bitcoin has reached a new all-time high, surpassing $100,000, while CZ remains unaffected by the surge, holding onto the same amount of Bitcoin. Binance Coin (BNB) also hit a record high, but CZ’s focus remains on Bitcoin’s long-term value rather than its fluctuating price.

BTC broke through the 100,000 mark, the altcoin sector of the crypto market rose in tandem, and the overall market sentiment was high.

M3M3, a few details you need to know about M3M3 Golden Finance, treat M3M3 as a tool for making money, don’t take it as a serious MeMe coin.

Meitu sold its entire crypto portfolio, making nearly $80 million just before bitcoin’s surge above $100,000. The company plans to distribute 80% of the gains to shareholders and refocus on its AI-driven apps.

MicroStrategy doesn't appear to face significant immediate risks, its interest costs remain manageable, and financing is progressing well.

Please hold on to (HODL) your Bitcoin and don’t wait until Bitcoin reaches 1 million US dollars to understand.