Today's News Highlights:
Trump plans to make cryptocurrency a national priority
Matrixport: Current trend model remains bearish, but will turn bullish if it breaks $103,000
OKX Jumpstart will launch ANIME (Animecoin) staking mining on January 20
Multicoin proposes to adjust SOL inflation mechanism to a market-driven model
Amber Group becomes SOLV market maker, received 23.2 million SOLV three hours ago
Bloomberg ETF analyst: Approval of Solana or XRP ETF is just a matter of time
Regulation/Macro
Well-known crypto trader Eugene (0xENAS) responded on the X platform to controversies regarding his identity and trading behavior, admitting he is co-founder of Tangent Ventures Darryl Wang, but emphasized that the 0xENAS account is his personal project, only recording personal trades and unrelated to Tangent's angel investment activities. Regarding allegations about $ENA, Eugene stated that he established a liquidity position for $ENA in Q3 2024 based on public information and personal analysis, and clearly disclosed his holdings in the article. He stressed that Tangent's $ENA angel investment has had a multi-year lock-up period since 2023, making it impossible to profit through trading, and the related allegations are baseless. Additionally, he denied ever using his influence to manipulate prices or accepting paid promotions, pointing out that his trading records are completely transparent. Eugene also mentioned that recent anonymous accounts attempted to expose his identity and threatened his family. He condemned this and stated it is his only response to the allegations, and he will continue to focus on the long-term development of the crypto field. Previously, sources indicated that trader Eugene is a co-founder of Tangent Ventures and a seed round investor in the ENA token.
According to the Suqian Court's official account, the court disclosed a network pyramid scheme case disguised as an investment in virtual currency financial projects. The suspects created the "ACORNS" online platform and, without any actual business projects, lured members by issuing virtual currencies like "ACO" and promoting that these virtual currencies could participate in financial management for high returns, requiring members to pay 100 USDT to participate for static income. By the time of the incident, the platform had over 3,000 active members and had raised nearly 3.16 million USDT. The Suqian Court sentenced the defendants in this case to prison terms ranging from five years and three months to three years for organizing and leading pyramid scheme activities, and imposed fines ranging from 170,000 to 100,000 yuan.
Former Coinbase employee complains that Coinbase account suspension disrupted wedding plans
Former Coinbase employee and CoinDesk author Griffin McShane publicly expressed dissatisfaction on social media to Coinbase CEO Brian Armstrong, stating that he was forced to cancel his wedding venue reservation due to being unable to access funds in his Coinbase account. He described that Coinbase froze his account for two months under the pretext of "protecting users," but provided no support or explanation. He stated that the account had always been used to receive salary and conduct cryptocurrency transactions, and had never encountered issues before. McShane called for Coinbase to update its system and improve customer support services. Coinbase has not yet responded to this.
China's GDP grows 5% year-on-year in 2024, Q4 GDP annual rate at 5.4%
According to data from the National Bureau of Statistics, preliminary calculations show that China's GDP in 2024 is 134.9084 trillion yuan, an increase of 5.0% year-on-year at constant prices. The previous value was revised from 126.0582 trillion yuan to 129.4272 trillion yuan. China's Q4 GDP annual rate is 5.4%, expected at 5%, previous value was 4.6%.
Musk jokes that Yellen may have clicked on a 'give me 1 Bitcoin, I'll return 2 Bitcoin' scam email
Musk tweeted, "Maybe she clicked on that 'give me 1 Bitcoin, I'll return 2 Bitcoin' scam email," mocking Bloomberg's report about Chinese hackers breaching the U.S. Treasury and accessing Treasury Secretary Yellen's computer.
According to CoinDesk, U.S. Senator Cynthia Lummis pressured federal agencies this week on two cryptocurrency-related issues. On the eve of Trump's potential return to the presidency, she urged the U.S. Marshals Service to slow down the sale plan for Bitcoin seized in the Silk Road case and warned the Federal Deposit Insurance Corporation (FDIC) against destroying evidence related to its guidance for banks to sever ties with crypto clients. Lummis opposes the rapid liquidation of approximately 70,000 Bitcoins (about $6.9 billion) and advocates for their inclusion in Trump's proposed "national Bitcoin reserve" plan. She also pointed out that if the FDIC attempts to hide materials related to the so-called "Operation Chokepoint 2.0," it would be illegal. Lummis will also lead the Senate Banking Committee's digital asset group in the new Congress, working with Chairman Tim Scott to develop a regulatory framework for crypto assets to promote financial innovation and inclusive development.
Trump plans to make cryptocurrency a national priority
According to Bloomberg, U.S. President-elect Trump plans to issue an executive order to make cryptocurrency a national priority and establish a cryptocurrency advisory committee within the government to voice policies for the industry. Sources say the order aims to guide government agencies in collaborating with the crypto industry, reflecting its strategic importance. Additionally, Trump's team is discussing halting federal-level lawsuits related to cryptocurrency to promote the industry's development.
Bloomberg ETF analyst: Approval of Solana or XRP ETF is just a matter of time
Bloomberg ETF analyst James Seyffart tweeted that the Litecoin ETF application filed by Canary may have a better chance of receiving approval from the U.S. SEC compared to other crypto asset ETFs, mainly because Litecoin has not been classified as a security by the SEC. He noted that the SEC has not yet accepted the recent Solana ETF application but believes that the approval of Solana or XRP ETFs is just a matter of time. Currently, Nasdaq has submitted a 19b-4 filing to list Canary's Litecoin ETF, and the market is watching whether the SEC will formally accept this application.
Trump's Treasury Secretary nominee Basant: No reason to support central bank digital currency
According to Jin10, Trump's Treasury Secretary nominee Basant stated that if elected, he would work with Congress to eliminate the debt ceiling to ensure the U.S. avoids default and reiterated his opposition to central bank digital currency (CBDC). He supports restoring a 100% R&D tax credit for businesses, opposes the "pillar two" global minimum tax, and advocates for increased sanctions on Russia to promote negotiations. He warned that failing to extend tax cuts would increase the tax burden on the middle class and emphasized the importance of adjusting federal spending and tax policies for economic recovery, believing that Trump's policies could reduce inflation to 2%. Additionally, he agreed that the Federal Reserve should remain independent and supports enhancing the overall tariff plan through carbon tariffs.
Financing
Merit Systems, based in Brooklyn, New York, announced the completion of a $10 million seed round financing, led by Andreessen Horowitz's crypto fund and Blockchain Capital. Merit is dedicated to addressing the long-standing "attribution problem" by establishing a protocol that provides fair attribution and reward mechanisms for open-source developers, allowing users to pay fees directly to software creators. Merit was co-founded by Sam Ragsdale, Ryan Sproule, and Mason Hall, and is currently valued at $55.5 million, with plans to launch a broader product version by the end of February. The company operates from the Domino Sugar Factory office building in Brooklyn and plans to add seven employees in the coming months to build a team culture focused on on-site collaboration.
AI-driven cryptocurrency analysis platform Mind AI completes $1.2 million strategic financing
According to official news, AI-driven cryptocurrency analysis platform Mind AI announced the completion of $1.2 million in strategic financing, with participation from aixcb, Castrum Istanbul, Dewhales, SMO Capital, Metazero Capital, X21 Digital, Lunar Labs Capital, Zephyrus Capital, AlfaCatalyst, Decubate, Maven Capital, Unreal Capital, GAINS Associates, Coinvestor Ventures, Kef Ventures, Carbon Browser, Danxia Capital, and Unicorn Ventures. Mind AI is a cryptocurrency analysis platform that leverages artificial intelligence and machine learning to provide insights into the digital asset market for investors, aiming to transform social signals into AI-driven profitable trading decisions.
AI code editor Cursor announced the completion of $105 million in Series B financing, with investors including Thrive Capital, Andreessen Horowitz, and Benchmark. The funds will be used to expand the team and advance research, driving the development of a "human-machine collaborative programming" model to significantly enhance programming efficiency. Currently, Cursor has millions of users, editing over 1 billion characters daily, with business revenue exceeding $100 million, making it one of the leading platforms in the global code generation and editing space.
According to The Block, Solana-based social graph protocol Tapestry has completed $5.75 million in Series A financing, co-led by Union Square Ventures and Fabric Ventures, with participation from Stellation Capital, Slow Ventures, and Foresight Ventures. This round of financing values Tapestry's equity at $35 million, with a token network valuation of $70 million, bringing the total financing amount to $12.5 million. Tapestry focuses on providing integrated social functionality infrastructure for blockchain applications, utilizing Solana's state compression technology to reduce costs. The team plans to expand to other blockchain ecosystems, such as Aptos and Monad, and will adopt a freemium model to provide services to developers while exploring future data read-write protocol charging models.
Cryptocurrency wallet Phantom announced the completion of $150 million in Series C financing, reaching a valuation of $3 billion. This round was co-led by Sequoia Capital and Paradigm, with other investors also participating. Phantom plans to use the new funds to accelerate the adoption of cryptocurrency and transform into the world's largest consumer finance platform. Since its launch in 2021, Phantom has reached 15 million monthly active users, supporting 85 billion on-chain transactions and managing $25 billion in self-custodied assets. In 2024, Phantom will enhance security and infrastructure by acquiring Bitski and Blowfish. In the future, Phantom will increase investment in social features and peer-to-peer payments to further simplify the user experience.
Project Updates
OKX Jumpstart will launch ANIME (Animecoin) staking mining on January 20
The OKX Jumpstart staking mining event will begin on January 20, 2025, at 14:00 (Beijing time). OKB and BTC holders can stake OKB and BTC to earn ANIME tokens as rewards. The event will last until January 23 at 14:00. The total OKB reward pool for this event is 53,333,334 ANIME, and the total BTC reward pool is 26,666,666 ANIME. There is no minimum limit for individual staking, with a maximum staking limit of 600 OKB and 0.3 BTC for BTC. Staking and unstaking can be done at any time. ANIME tokens are expected to be listed for trading on January 23, with specific timing to be announced later. The following countries and regions are not eligible for this event: Hong Kong, China, and South Korea. Previously, Azuki announced that the ANIME token will launch on Ethereum and Arbitrum in January, with 50.5% allocated to the community.
DWF Labs stakes over $5 million in DEXE to support DeXe Network
DWF Labs announced that it has joined the DeXe Network's DEXE staking program, staking over $5 million in tokens with a lock-up period of 12 months.
Amber Group becomes SOLV market maker, received 23.2 million SOLV three hours ago
According to @ai_9684xtpa's monitoring, Amber Group has become the market maker for the new coin SOLV in Binance's current Megadrop. About three hours ago, the address 0x716…dbE85 received 23.2 million SOLV (accounting for 1.56% of the initial circulation) from the project's multi-signature address for market making. Currently, 12.2 million of these have been deposited into major exchanges.
According to official news from MakersPlace, due to ongoing market challenges and financing difficulties, the digital art platform announced it will cease operations after six years. Starting today, the platform will disable minting, token importing, and new account creation features, but purchasing of artworks will continue temporarily. Artists and collectors must transfer their works from the MakersPlace custody wallet to personal wallets by June 2025, with related tools set to launch in February. MakersPlace stated it will refund unused funds to investors and provide fair severance pay to employees. All Ethereum NFTs on the platform will still be accessible through secondary markets. Digital artist Beeple responded to the news of MakersPlace ceasing operations, expressing regret and gratitude for the platform's promotion of the digital art field, which had a significant impact on his career.
Multicoin proposes to adjust SOL inflation mechanism to a market-driven model
According to Blockworks, Multicoin Capital has proposed to adjust Solana's SOL issuance mechanism from a fixed inflation model to a market-driven model to maintain a staking rate of around 50%. If the staking rate exceeds 50%, the issuance will decrease, reducing staking rewards; if it falls below 50%, the issuance will increase, encouraging more staking. Currently, the SOL inflation rate is about 4.8%, originally planned to decrease to 1.5% annually. Multicoin believes that lowering inflation can reduce network centralization, enhance DeFi utility, and alleviate selling pressure caused by staking rewards, but it may lead to a decrease in staking rewards.
Coinbase International will launch perpetual contracts for AIXBT, PNUT, and VET
Coinbase International announced on the X platform that it will add support for perpetual futures contracts for AIXBT, PNUT, and VET on Coinbase International and Coinbase Advanced. The AIXBT-PERP, PNUT-PERP, and VET-PERP markets are expected to open on January 23, 2025, at 17:30 or later (Beijing time).
Opinion
Opinion: Trump's embrace of Bitcoin may be the largest "pump and dump" in history
According to Jinshi reports, Pomona College economics professor Gary Smith and NTT DoCoMo Mobile Science Award winner Jeffrey Funk stated that Trump's embrace of Bitcoin may be the largest "pump and dump" in history. The U.S. federal government may foolishly spend hundreds of billions of dollars to buy Bitcoin at increasingly higher prices, but is there a bigger fool than the federal government? Who will the government sell hundreds of billions of dollars worth of Bitcoin to? Perhaps Trump envisions a "pump and dump." In a "pump and dump" scheme, a group of scammers spreads false rumors about an investment while trading at increasingly higher prices to attract gullible investors. Once the price is inflated, the conspirators sell their holdings to the victims. The federal government should stop these scams rather than join the ranks of scammers to conduct its own pump and dump. A more promising (and completely legal) way to reduce debt is to cut some government spending. The real way to "Make America Great Again" (a slogan Trump has used during his campaign and presidency) is to produce goods and services more efficiently, leading to lower prices, higher wages, and greater profits.
Matrixport: Current trend model remains bearish, but turns bullish if it breaks $103,000
Matrixport stated that based on Bollinger Band measurements, the lower band of Bitcoin is gradually expanding, indicating an increased risk of decline, but may provide a favorable risk/reward entry point for bulls after a reversal. Currently, the greed and fear index is close to the critical 10% level, and the 30-day rolling return is close to -10%, which typically signals that the downward trend may slow or reverse.
Although Bitcoin remains above the 21-week moving average and is technically in a bull market, momentum has turned bearish. The minting and trading volume of stablecoins has significantly decreased, DeFi activity has reduced, Bitcoin's dominance has risen, and funds are flowing back from altcoins to Bitcoin, leading to weakened market speculation. Historical data shows that when Bitcoin rises over 40% in 30 days, it usually peaks or enters a consolidation phase. Currently, the trend model remains bearish, but it will turn bullish if it breaks $103,000. As the consolidation period extends, the bullish signal trigger point decreases, increasing the likelihood of a reversal. Bitcoin is currently trying to maintain the $90,000 level, primarily driven by funds flowing back from altcoins rather than new capital inflows. Market trends are momentum-driven, and traders need to manage risks carefully while seeking opportunities in volatility. Despite the overall market momentum being weak, Bitcoin shows some resilience due to its relative safety.
Important Data
OKB breaks $61, up 22.05% in 24 hours
According to OKX market data, possibly influenced by the news that "OKX Jumpstart will launch ANIME (Animecoin) staking mining on January 20," OKB has broken $61, rising 22.05% in 24 hours, currently quoted at $61.1. Previously, it was reported that OKX Jumpstart will launch ANIME (Animecoin) staking mining on January 20.
A certain address missed over $4.4 million in potential profits by selling AGiXT too early
According to Lookonchain monitoring, a trader purchased 46.5 million AGiXT for $1,756 but sold too early for $6,284, only making a profit of $4,529 and missing out on a potential profit worth over $4.4 million. Currently, this batch of AGiXT is valued at over $4.4 million.
Data: Ethereum spot ETF saw a net inflow of $167 million yesterday
According to SoSoValue data, on January 16 (Eastern Time), the Ethereum spot ETF had a net inflow of $167 million in a single day, with an ETF net asset ratio of 3%. BlackRock's ETF ETHA had a net inflow of $111 million in a single day, with a historical total net inflow of $3.827 billion; Fidelity's ETF FETH had a net inflow of $70.044 million in a single day, with a historical total net inflow of $1.427 billion. Grayscale's Ethereum Trust ETF ETHE saw a net outflow of $18.7284 million yesterday, with a historical cumulative net outflow of $3.718 billion, while Grayscale's Ethereum Mini Trust ETF ETH had a net inflow of $4.0885 million, with a historical total net inflow of $566 million. As of now, the total net asset value of the Ethereum spot ETF is $12.046 billion, with a historical cumulative net inflow of $2.641 billion.
Data: Bitcoin spot ETF saw a net inflow of $626 million yesterday
According to SoSoValue data, the Bitcoin spot ETF had a net inflow of $626 million in a single day yesterday, with an ETF net asset ratio of 5.78%. BlackRock's ETF IBIT had a net inflow of $528 million in a single day, with a historical total net inflow of $38.036 billion; Ark Invest and 21Shares' ETF ARKB had a net inflow of $155 million in a single day, with a historical total net inflow of $2.691 billion. In contrast, Grayscale's GBTC saw a net outflow of $69.9706 million yesterday, with a historical cumulative net outflow of $21.675 billion. Currently, the total net asset value of the Bitcoin spot ETF is $114.818 billion, with a historical cumulative net inflow of $37.103 billion.
22,000 BTC options and 182,000 ETH options expire today, market focuses on Bitcoin rebound
Greeks.live macro researcher Adam released today's options delivery data, stating that 22,000 BTC options are expiring, with a Put Call Ratio of 0.95, a maximum pain point of $96,000, and a nominal value of $2.19 billion; 182,000 ETH options are expiring, with a Put Call Ratio of 0.36, a maximum pain point of $3,250, and a nominal value of $610 million. Bitcoin's price has once again broken $100,000, boosting market sentiment, but most altcoins remain weak. Short-term options implied volatility (IV) has risen, showing bullish strength for a short-term target of $105,000. Additionally, Trump's official inauguration next week raises concerns about whether the new government will introduce favorable policies for cryptocurrencies. Considering the Federal Reserve's upcoming meeting at the end of the month is expected to maintain interest rates, it is advisable to pay attention to policy changes and ETF fund inflows, and to consider positioning short-term options for short-term operations.
AI agent automation platform token AGiXT's market cap exceeds $80 million within 3 hours of launch
According to GMGN market data, the AI agent automation platform token AGiXT's market cap exceeded $80 million within 3 hours of launch, currently reported at $81.3 million. It is known that AGiXT is an open-source platform focused on AI agent automation management, allowing users to make API calls through natural language requests, with its code publicly available on GitHub.
World Liberty deposits another 1,038 ETH into Coinbase about 3 hours ago
According to Spot On Chain monitoring, the Trump-related fund World Liberty deposited another 1,038 ETH (approximately $3.44 million) into Coinbase about 3 hours ago. Over the past two days, the fund has deposited a total of 14,611 ETH (approximately $47.34 million) into Coinbase, with an average price of $3,240. The fund currently holds 5,111 ETH (approximately $1.71 million).
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