Headline
▌Gary Gensler allegedly posted a farewell message: It is a lifetime honor to serve as Chairman of the SEC
Gary Gensler allegedly posted a farewell message on the X platform, he wrote: It is a lifetime honor to serve as Chairman of the SEC, public service is to give back to our community, whether it is a neighborhood, county or state; or, as part of this agency, I firmly believe that capital markets, competition and common-sense rules are good for investors and issuers, which is why the SEC and its staff play a key role in supervising the market and ensuring compliance with common-sense rules of U.S. securities laws:
1. We reduce costs and risks and enhance the integrity of our two largest markets-the nearly $60 trillion stock market and the $28 trillion Treasury market;
2. We help improve the transparency and integrity of corporate governance of listed companies, including implementing new cooling-off periods and other conditions before company insiders who may have material non-public information trade their company securities;
3. We established rules requiring regulated broker-dealers and investment advisers to notify clients of data breaches that could put personal information at risk;
4. We laid the foundation for an important debate about the growing use of artificial intelligence in finance;
5. We updated the rules for the stock and treasury markets and shortened settlement cycles;
6. We returned more than $2.7 billion to damaged investors.
▌Thailand to launch crypto payments in Phuket in 2025
Thailand will launch crypto payments in Phuket in 2025, and tourists can pay with Bitcoin, and transactions will be automatically converted into Thai baht.
Market
As of press time, according to Coingecko data:
BTC's latest transaction price is $104,499, with a daily increase or decrease of +4.0%;
ETH's latest transaction price is $3,470.18, with a daily increase or decrease of +2.6%;
BNB's latest transaction price is $719.71, with a daily increase or decrease of +0.2%;
SOL's latest transaction price is 218.72 US dollars, and its intraday increase or decrease is +1.9%;
DOGE's latest transaction price is 0.4282 yuan, and its intraday increase or decrease is +12.4%;
XPR's latest transaction price is 3.24 US dollars, and its intraday increase or decrease is -3.6%.
Policy
▌DCG fined $38 million for Genesis lending fraud
According to market news, Digital Currency Group (DCG) was charged and fined $38 million by the U.S. Securities and Exchange Commission (SEC) for its subsidiary Genesis's lending fraud.
Note: Genesis is a cryptocurrency lending platform under DCG and was once one of the largest institutional lending service providers in the crypto industry. In November 2022, the collapse of cryptocurrency trading platform FTX exacerbated market turmoil. Genesis suspended customer withdrawals during this period and filed for bankruptcy protection in January 2023, with assets and liabilities valued at between $1 billion and $10 billion. According to the SEC investigation, Genesis and DCG were accused of covering up financial losses through false statements, involving more than 230,000 investors and a total amount of more than $1 billion.
▌Crypto supporter Vivek Ramaswamy will run for governor of Ohio
According to The Block, US Republican Vivek Ramaswamy plans to officially announce his candidacy for governor of Ohio soon.
It is reported that Vivek Ramaswamy led the US Department of Efficiency with Musk, served as Donald Trump's campaign agent, and has been an active supporter of cryptocurrency.
▌Crypto.com obtains in-principle approval for MiCA license
According to The block, Singapore-based digital asset exchange Crypto.com has obtained in-principle approval for the Crypto Asset Market (MiCA) license. Although the exchange does not appear to have received a full license yet, receiving final approval will allow Crypto.com to offer services across the EU once the MiCA rules come into effect in late December 2024.
First adopted in April 2023, MiCA establishes a regulatory framework for digital assets in the EU, allowing companies with a MiCA license in one EU member state to operate throughout the EU.
▌International cryptocurrency vendor sentenced to 121 months in prison by the US Department of Justice for conspiracy to launder money
According to the US Department of Justice announcement, US District Judge Gregory Van Tatenhove sentenced Indian national Anurag Pramod Murarka to 121 months in prison for conspiracy to launder money. Murarka, 30, is an international virtual currency vendor operating under two nicknames ("elonmuskwhm" and "la2nyc").
According to recently released court documents, from April 2021 until September 29, 2023, Murarka operated an international money laundering business. Murarka would often advertise his services online as money laundering services on darknet marketplaces. Clients would then contact him via encrypted messaging in response to these ads and negotiate an exchange rate. Once the exchange rate was determined, Murarka, who was based in India, would instruct his clients to send cryptocurrency to certain cryptocurrency addresses. Murarka would then arrange for the cash to be delivered to his employees in the United States through a complex, pre-arranged Indian hawala operation. Murarka’s network of employees throughout the United States and abroad would collect the cash from Murarka’s hawala connections and then package the cash in a variety of ways, including between book pages and sealed in multiple envelopes, before mailing the cash to the clients.
Murarka collected fees for his services and used a portion of that to bribe employees and co-conspirators. Murarka knew that many of his clients were involved in criminal activities, especially computer hacking and drug trafficking, so he knew that his business facilitated criminal activities by helping to conceal the source of illegal activities. Murarka and his accomplices laundered more than $20 million in total.
▌President of The ETF Store: There were 7 crypto-related ETF applications in the past 48 hours
Nate Geraci, president of The ETF Store, tweeted that in the past 48 hours, multiple institutions submitted crypto-related ETF applications, and the regulatory wind is changing. The specific applications are as follows:
VanEck On-Chain Economy ETF
Canary Litecoin ETF (19b-4)
Oasis Capital Digital Asset Debt Strategy ETF
CoinShares Digital Asset ETF
ProShares Leveraged and Inverse XRP ETF
ProShares XRP Futures ETF
ProShares Solana Futures ETF
▌Trump may issue an executive order favorable to the cryptocurrency industry within a few days of taking office
According to Jinshi, multiple people familiar with the matter revealed that US President-elect Trump plans to use his executive power to reduce the regulatory burden faced by cryptocurrency companies and promote the adoption of digital assets within the first few days of taking office. It is expected that Trump will sign an executive order to establish a cryptocurrency advisory committee after taking office, an idea he first proposed in July last year.
Blockchain Applications
▌MARA CEO: President Trump's portrait in Bitcoin block is generated by AI
Fred Thiel, CEO of Bitcoin mining company MARA, posted on the X platform confirming that the company has embedded President Trump's portrait in BTC block 879613, and revealed that President Trump's portrait in the "Trump 47" block was generated by AI to celebrate his upcoming inauguration as the first US president to support Bitcoin.
Cryptocurrency
▌A whale/institutional address sold 7,983.8 ETH 6 hours ago, making a profit of $1.05 million
According to the monitoring of on-chain data analyst Ember, a whale/institutional address sold 7,983.8 ETH 6 hours ago in exchange for 27.29 million DAI, with an average selling price of $3,419.
It is reported that the address bought 7,983.8 ETH at $3,286 5 days ago, and sold all of it at $3,419 today, making a profit of $1.05 million (+4%). Coinbase endorsed the idea of a strategic reserve of bitcoin in the U.S. on Friday as part of a blog post by its CEO Brian Armstrong on “economic freedom.”
“Economic growth stems from free market capitalism, deregulation, small government, and technological innovation,” he wrote. “If other countries in the G20 also want to participate in economic prosperity, it would be wise to join the trend of embracing economic freedom and free markets.” Brian Armstrong called on world leaders to do four things in the spirit of technological optimism over the next year: first, pass laws to keep cryptocurrency companies in their countries; second, establish a strategic bitcoin reserve, the article wrote: “The next global arms race will be in the digital economy, not in space”; third, establish a special economic zone for the digital asset economy; and finally, improve government efficiency, the article specifically mentioned the efforts of the Department of Government Efficiency (DOGE).
▌CryptoQuant: Coinbase Prime's Bitcoin OTC trading increased significantly
CryptoQuant analysts found that Coinbase Prime's over-the-counter (OTC) trading activity increased significantly, indicating that the number of institutional investors using OTC channels to accumulate Bitcoin has increased. Ki Young Ju, CEO of CryptoQuant, explained: "When the inflow of funds to Coinbase Prime Brokerage Service, the preferred Bitcoin purchasing channel for U.S. institutions, increases significantly, it indicates that a variety of over-the-counter (OTC) transactions are currently occurring and institutions are more willing to conduct OTC transactions."
Important Economic Dynamics
▌Congressional Budget Office: The U.S. real GDP growth rate is expected to be 1.9% in 2025
The U.S. Congressional Budget Office (CBO) said that the U.S. real GDP growth rate is expected to be 1.9% in 2025, which is lower than the 2.0% forecast in June, and the average annual growth rate is expected to be 1.9% between 2024 and 2034.
Golden Encyclopedia
▌What is a teardrop attack in crypto?
In the context of cryptocurrency, teardrop attacks often target the decentralized nature of blockchain platforms. Even if they do not target the blockchain's cryptographic algorithms, compromising the underlying peer-to-peer network infrastructure that cryptocurrencies rely on can lead to service disruptions, loss of funds, and decreased user trust. Attackers can interfere with the consensus process, transaction verification, or node-to-node communication by focusing on specific nodes or servers. This can lead to network fragmentation, processing delays, or even complete downtime.
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.