Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance. The content covers key news of the week, mining information, project trends, technology progress and other industry trends. This article is one of the weekly news articles, giving you an overview of the major events in the blockchain industry this week.

Headlines

▌Trump may be named "Person of the Year" by "Time" magazine

According to three people familiar with the matter, Donald Trump may be named "Person of the Year" by "Time" magazine As "Person of the Year". To celebrate the unveiling of the Person of the Year, the president-elect will ring the New York Stock Exchange's opening bell on Thursday morning, said three people familiar with the matter who spoke on condition of anonymity because they were not authorized to disclose plans. A Time spokesperson said the magazine "does not comment on Person of the Year selections prior to publication. This year's results will be announced tomorrow morning (December 12) on Time.com."< /p>

Last year, pop superstar Taylor Swift appeared on the cover of Time magazine. To celebrate the magazine cover reveal, Time CEO Jessica Sibley rang the opening bell.

▌The Trump family project WLFI has increased its holdings of DeFi tokens worth US$50 million

According to Arkham tracking data, the Trump family’s DeFi project WLFI has just increased its holdings of DeFi tokens worth US$50 million. DeFi tokens, including: $35 million ETH/WETH; $10 million cbBTC; $1 million LINK; $1 million AAVE, etc.

▌Ripple CEO: Stablecoin RLUSD has been approved by the New York Department of Financial Services

Ripple CEO Brad Garlinghouse announced on the X platform that stablecoin RLUSD has been approved by the New York Department of Financial Services (NYDFS) , the list of exchanges and partners will be online soon.

▌Microsoft shareholders voted against Bitcoin investment proposal

Voting results showed that Microsoft’s major shareholders opposed the company’s Bitcoin investment proposal on Tuesday. Microsoft's board of directors had earlier urged shareholders to reject a recommendation from the National Center for Public Policy Research that the company invest 1% of its total assets in Bitcoin as a hedge against inflation. At the annual meeting, MicroStrategy Chairman Michael Thaler gave a three-minute speech in an attempt to persuade Microsoft shareholders to support the proposal. His company has invested billions of dollars in Bitcoin. Data shows that Microsoft's largest shareholders are institutional investors, including Vanguard and BlackRock.

▌OpenAI releases the long-awaited AI video generation model Sora

OpenAI releases the long-awaited AI video generation model Sora. The new product is similar to OpenArt’s AI tool DALL-E. Users Enter the desired scenario, Sara will give back high-definition video editing results.

▌El Salvador plans to relax requirements for Bitcoin acceptance to unlock $3 billion in loans

According to a report by the Financial Times, citing anonymous sources, El Salvador plans to relax requirements for local businesses to accept Bitcoin. The move was to secure more than $3 billion in loans. Sources say that by switching to a system that allows businesses to voluntarily accept Bitcoin, El Salvador could reach a loan agreement with the International Monetary Fund worth $1.3 billion. The deal will reportedly also unlock two loans, a $1 billion loan from the World Bank and another $1 billion from the Inter-American Development Bank. The Financial Times said that in order to obtain the loan from the International Monetary Fund, the country also agreed to reduce the budget deficit, pass an anti-corruption law and increase reserves.

▌Russian Duma representative proposed to establish a Bitcoin strategic reserve to deal with financial risks

Russian Duma representative Anton Tekaev proposed to Finance Minister Anton Siluanov Proposed recommendations for the establishment of a strategic Bitcoin reserve to address financial risks arising from geopolitical instability.

▌The result of the U.S. Senate’s re-election vote on SEC Commissioner Caroline Crenshaw is “to be determined”

As the digital asset industry expressed opposition to U.S. SEC Commissioner Caroline Crenshaw’s anti-cryptocurrency stance, the U.S. Senate A vote by lawmakers to renominate the commissioner is now pending. A person familiar with Crenshaw's nomination process said in a note that the results of the vote are "pending." The vote was scheduled for Wednesday as part of a U.S. Senate Banking Committee hearing.

Republicans blocked the committee from holding a vote to nominate Crenshaw and Gordon Ito to the Financial Stability Oversight Committee, committee chairman Sherrod Brown, D-Ohio, said in a statement released late Wednesday. Brown said the committee, which convenes more than two hours after the Senate is in session, requires the unanimous consent of all senators, which is often achievable. However, Republicans opposed convening the meeting for a vote.

▌The U.S. Supreme Court rejected Nvidia’s appeal, and a class action lawsuit over misleading investors about its encryption relationship will be conducted in a lower court

The U.S. Supreme Court rejected an appeal by Nvidia, allowing the lawsuit against A class-action lawsuit against the company for allegedly defrauding investors over its reliance on cryptocurrencies is proceeding in lower courts.

The case stems from two investor lawsuits in 2018, which claimed that Nvidia wantonly misled investors about the close relationship between revenue growth and cryptocurrency performance. Investors accuse Nvidia and its executives of making material misrepresentations, downplaying the impact of volatile cryptocurrency markets on its revenue growth and overstating its ability to adapt to changes. The Court of Appeal has allowed at least part of the consolidated case to proceed.

▌Multiple encryption advocacy groups oppose the nomination of Democratic SEC Commissioner CarolineCrenshaw

Several crypto organizations, including the Cedar Innovation Foundation, have issued advertisements and letters opposing the nomination of Democratic SEC Commissioner Caroline Crenshaw. Its digital advertising campaign calls Caroline Crenshaw "more extreme than chairman Gary Gensler". In a statement, the Cedar Innovation Foundation emphasized that Crenshaw opposed the approval of a spot Bitcoin ETF and criticized the cryptocurrency market as a "'Petri dish' of fraud." The Blockchain Association and other lobbying groups have written to Senate lawmakers urging the commissioner’s rejection. It is reported that the U.S. Senate Banking Committee is preparing to consider the re-nomination of Caroline Crenshaw. Her current five-year term has expired and her term will be in a buffer period, which may last until the end of 2025.

▌Trump: Appoint Andrew Ferguson as Chairman of the U.S. Federal Trade Commission

President-elect Trump stated that he will appoint Andrew Ferguson as Chairman of the U.S. Federal Trade Commission Commission (FTC) Chairman. (Golden Ten)

▌El Salvador and Argentinian regulators signed an agreement to help both countries develop the crypto industry

Regulators in El Salvador and Argentina signed an agreement to help both countries Grow the crypto industry. Juan Carlos Reyes, El Salvador’s top cryptocurrency regulator and chairman of the Commission on Digital Activities (CNAD), said the agreement will help El Salvador expand its influence through strategic partnerships. While the details of the deal are unclear, Reyes said the agreement aims to enable the two regulators to share knowledge and experience to promote crypto innovation.

Blockchain Application

▌xAI: We are updating the functionality of the Grok chatbot through a new autoregressive image generation model code-named Aurora

XAI, owned by Musk: We are using A new autoregressive image generation model codenamed Aurora is used to update the functionality of the Grok chatbot. The model has been launched on the X platform. (Golden Ten)

▌Musk criticized the U.S. for tax problems caused by backward IT, and analyzed that blockchain may be the solution

Musk has recently criticized the U.S. The use of old computers and software makes it difficult for the tax agency (IRS) to pass basic audits and even "difficult to track the whereabouts of tax dollars." Some analysts pointed out that blockchain technology may be one of the solutions to this problem.

▌FLOKI launches debit card, which can use crypto assets at merchants that accept VISA or MasterCard

Floki announced that its debit card has been officially launched, and users can accept VISA or MasterCard globally. Mastercard merchants use crypto assets, Floki debit card not availableOFAC sanctions and regions restricted by issuing bank or MasterCard.

▌Messari: The monthly trading volume of Solana ecological DEX Raydium exceeded Uniswap for the second consecutive month

According to a report released by Messari, the monthly trading volume of the decentralized exchange (DEX) Raydium Overtaking Uniswap for the second consecutive month. In November, monthly trading volume on Solana’s native platform, Raydium, was about 30% higher than Uniswap’s, or about $30 billion.

Messari reports that Raydium’s “success is largely due to its dominant position in the Solana ecosystem,” adding that DEX continues to dominate daily DEX on layer 1 blockchain networks Accounting for more than 60% of the transaction volume, memecoin transactions have become an important driving force for Raydium's transaction volume. In November, memecoin accounted for 65% of Raydium's monthly transaction volume, reaching a record high.

▌Electric Capital: Solana surpasses Ethereum to become the fastest-growing ecosystem in terms of new developers

A developer report released by venture capital firm Electric Capital found that, Solana is the blockchain of choice for new developers. The report found that of the 39,148 new developers who began exploring cryptocurrencies this year, 7,625 developed on Solana, representing an 83% year-over-year increase in the number of developers on the network. According to the report, this is the first time since 2016 that the Solana blockchain ecosystem has grown faster than Ethereum.

However, in terms of the total number of developers, Ethereum is still the largest blockchain in North America, South America, Asia, Europe and Africa. In terms of number of developers, Solana ranks second in the same region.

Electric Capital’s report also found that Aptos, Base, Bitcoin, Internet Computer, NEAR, Polkadot, Polygon, Starknet and Sui each added more than 1,000 developers in 2024. In addition, BNB, Optimism, Scroll, Stellar and TON also added 500 new developers.

▌Balancer V3 partners with Aave to launch Boosted Pools

Decentralized trading protocol Balancer has launched its V3 upgrade, aiming to optimize liquidity, provide new development tools and drive trading volume increase. Balancer V3 introduces 100% Boosted Pools, bringing its permissionless automated market making technology totechnology combined with the yield market infrastructure of DeFi lending protocol Aave.

▌Casa launches “Praetorian” service to support sovereign Bitcoin autonomous management

Encryption custody company Casa launches “Praetorian” autonomous management service specially designed to help sovereign security manage Bitcoin reserve. The service is distributed across different jurisdictions through multi-signature encrypted vaults, providing high-strength encryption guarantees and supporting delegation of authority between administrators. Nick Neuman, CEO of Casa, said that this service provides full control of the sovereign reserve and ensures management continuity and security through well-designed tools. Even if Casa ceases operations, funds are still safe.

Cryptocurrency

▌The entire network liquidated 1.712 billion US dollars in the past 24 hours, which may be the highest figure in this bull market

According to Coinglass data, the entire network liquidated 17 billion US dollars in the past 24 hours. .12 billion, or the highest 24-hour liquidation data in this bull market, of which long orders liquidated at $1.55 billion, short orders liquidated at $162 million, BTC liquidated at $183 million, and ETH liquidated at $240 million. In the past 24 hours, a total of 569,620 people around the world have been liquidated, with a total liquidation amount of US$1.712 billion. The largest single liquidation order occurred on Binance-ETHUSDT worth US$19.6911 million.

▌GeniusGroup purchased an additional $2.2 million worth of Bitcoin, increasing its holdings to 191 BTC

According to Globenewswire reports, artificial intelligence company GeniusGroup (NYSEAmerican: GNS) announced that it has increased its Bitcoin vault’s Bitcoin purchases by an additional $2.2 million to 191 coins, with a total value of $18 million, at an average price of $92,728 per Bitcoin. The company announced its "Bitcoin First" strategy on November 12, committing that 90% or more of its current and future reserves will be held in Bitcoin, with an initial target of $120 million in Bitcoin.

▌JPMorgan Chase: November was a "landmark" month for the cryptocurrency market

JPMorgan Chase (JPM) said in a research report on Monday that from performance, activity , and sentiment, November is a landmark month for the cryptocurrency market. Analysts led by Kenneth Worthington wrote: “President-elect Trump’s reelection triggered a historic rally and jump in market capitalization across the entire crypto ecosystem.” This includes tokens, decentralized finance (DeFi), stablecoins and ownership Listed company for crypto assets. The bank noted that the crypto ecosystem recorded its best monthly returns, with its market capitalization rising by 45%. The total market value of cryptocurrencies has swelled to $3.3 trillion. Cryptocurrency market trading volume increased, report saysMore than doubling in size, trading activity for some digital assets grew even higher. The bank noted that trading volumes for non-fungible tokens (NFTs) were weaker.

▌Synthetix announced the acquisition of leveraged token platform TLX through a token swap transaction

Synthetix announced the acquisition of leveraged token platform TLX through a token swap transaction, which had previously obtained a SIP -412 and TIP-14 approved.

Synthetix stated that it is working with the TLX team to optimize several parameters in the current implementation and is fully promoting the launch on the Base chain. It plans to complete a comprehensive review, implement parameter improvements, and redeploy in the next few weeks. All contracts. Once completed, Synthetix said it will announce a lucrative leveraged token incentive program heading into 2025.

▌The Uniswap Foundation has funded $110,000 to Blockful to conduct a governance security review

The Uniswap Foundation announced that it has funded $110,000 to Blockful to conduct a governance security review. Enhancing the resilience of the Uniswap protocol governance system.

Blockful will analyze key governance data, identify potential vulnerabilities, and create a public dashboard for monitoring governance security metrics to improve security for the Uniswap community and the broader DeFi space.

▌Glassnode: BTC long-term/short-term holder supply ratio dropped to 3.78, the lowest value since this cycle

Glassnode released data on the X platform saying that with the past 30 days The selling behavior of BTC has accelerated, and holding BTC is no longer the default behavior of the entire market participants. The long/short holder supply ratio has dropped to 3.78, its lowest value so far this cycle, which means there is increased trading activity in the market and short-term holders are more active.

▌Pantera Capital partner: As the industry matures, crypto investments will focus more on fundamentals

Cosmo, general partner and portfolio manager of crypto hedge fund and venture capital firm Pantera Capital Jiang Said that as the industry matures, crypto investment will focus more on fundamentals, commenting: “If fundamental investment does not enter this industry, it means that we have failed, and all assets ultimately follow the law of gravity. Ultimately, investment The only thing that matters to investors - and has been for thousands of years - is cash flow."

He also said: "Cryptocurrencies have grown from nothing to today, driven by retail investors. The market value has reached 3.4 Trillions of dollars, but the only way this asset class can keep growing is by attracting institutional capital, and institutional capital will only care about fundamentals. Logically, this will be the only way to make money sustainably in the future."

< p>▌Interactive Brokers founder: It is recommended that peopleBetween 2% and 3% of net worth is invested in Bitcoin

Thomas Peterffy, the billionaire founder of retail brokerage Interactive Brokers Group Inc., said that despite Bitcoin’s volatility, investing Investors should hold a certain amount of Bitcoin, but they need to limit their holdings. He said: "I recommend that people put 2% to 3% of their net assets into Bitcoin. For example, we will not allow anyone to put more than 10% of their assets into Bitcoin because I think that would be very dangerous."

▌Report: Emerging markets to lead in cryptocurrency adoption in 2024

According to C A survey report released by onsensys shows that emerging markets will lead the way in cryptocurrency adoption in 2024, with Nigeria (84%), South Africa (66%), Vietnam (60%), Philippines (54%) and India (50%) At least half of respondents report owning a crypto wallet in 2024. Türkiye and the United States also ranked highly, with 44% and 43% of respondents respectively reporting having a wallet.

Cryptocurrency ownership increased in many countries in 2024, with Mexico increasing by 8%, the Philippines and South Africa increasing by 7%, followed by Germany by 5%, and Japan by 4%.

According to the survey, about 40% of the respondents own cryptocurrency or have purchased cryptocurrency in the past. The proportion is lower in Japan, Argentina, Canada, France, Italy and the UK, where less than a third of respondents have ever purchased any digital asset.

▌CryptoQuant: Ethereum may breach $5,000 due to increased institutional demand

Ethereum may soon breach $5,000 due to increased institutional demand, according to a new report from CryptoQuant , which would mark an all-time high for the second-largest cryptocurrency by market capitalization. Not only that, there is also a lot of activity on the chain. The company said in a report on Thursday that it saw record inflows into the new ethereum ETF.

Global investors poured $1.2 billion in new money into Ethereum funds last week, a record just months after spot ETH funds began trading in the United States.

▌The U.S. think tank NCPPR proposes that Amazon include Bitcoin in its financial reserves

The U.S. think tank "Center for Public Research" (NCPPR) proposes that Amazon include Bitcoin in its financial reserves. NCPPR believes that Bitcoin can serve as a hedge against currency devaluation, but whether Amazon will adopt a more innovative strategy remains undetermined. Amazon will likely vote on the NCPPR proposal at its annual shareholder meeting in May 2025.

Important economic news

▌Yellen: She has spoken with nominated Treasury Secretary Scott Bessent and discussed the broad responsibilities of the Treasury Department

U.S. Treasury Secretary Yellen said that she has spoken with TrumpScott Bessent, President Trump’s nominee for Treasury Secretary, discussed the Treasury Department’s broad responsibilities.

Yellen said, I informed Bessent, the candidate for Treasury Secretary, that the Treasury Department has professional staff who work with integrity and can make reliable analyses. I also expressed concerns about fiscal responsibility and that we need to reduce the deficit. Hopefully Congress will find a way to pay for any extension of the personal tax cuts Trump passed in 2017.

▌Trump: To me, the stock market is everything

US President-elect Trump rang the opening bell on Thursday at the New York Stock Exchange. On the same day, he was "Time" magazine named him the 2024 Person of the Year. After ringing the bell, Trump said in an interview, "If you don't make (goods) here (in the United States), you have to pay 21% tax. If you make it here, we will work hard to get the tax down to 15% , you have to make your products in the United States," Trump also said. Attributing the recent rise in the stock market to his defeat of Biden (rather than Harris), "I have always said that for me, the stock market is everything. This is very important." He also revealed that after returning to the White House, he will work with some The richest and most influential people build closer ties.

▌The winning bid yield of the U.S. 30-year Treasury bond is 4.535%, which is higher than the pre-issuance trading yield

The U.S. Treasury Department renewed its issuance of US$22 billion of 30-year Treasury bonds, and the winning bid yield 4.535%, and the pre-issuance trading yield was 4.523% when the bidding closed at 1 p.m. New York time. The proportion of primary dealers allocated was 14.4%, which was higher than the previous time. The allocation ratio for direct bidders dropped to 19.1%, and the allocation ratio for indirect bidders increased to 66.5%. The bid multiple was 2.39 times, lower than the average of 2.42 times in the past six renewal transactions.

▌The three major U.S. stock indexes closed with mixed gains and losses, and cryptocurrency concept stocks rose collectively

The three major U.S. stock indexes closed with mixed gains and losses, with the Dow Jones Industrial Average down 0.22% and the S&P 500 The index rose 0.82%, and the Nasdaq rose 1.77%, breaking through 20,000 points for the first time, setting another record high. Star technology stocks are rising steadily, with Tesla, Google, Amazon, Meta, and Netflix all setting new record highs. Among them, Tesla and Google rose by more than 5%, and Amazon, Meta, and Netflix rose by more than 2%. Bitcoin regained $100,000, and cryptocurrency concept stocks soared collectively. MicroStrategy rose nearly 9%, Bit Digital rose more than 4%, and Coinbase rose nearly 4%.