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

▌The Central Bank: Next year, it will comprehensively use a variety of monetary tools, cut reserve requirements and interest rates in a timely manner, and maintain sufficient liquidity

The Party Committee of the People's Bank of China held a meeting. Pan Gongsheng, Secretary of the Party Committee and Governor of the People's Bank of China, presided over the meeting. The meeting emphasized the implementation of moderately loose currency. Comprehensive use of a variety of monetary tools, timely reductions in reserve requirements and interest rates, maintaining sufficient liquidity, and matching the growth of social financing scale and money supply with the expected goals of economic growth and overall price levels. Guide banks to fully meet effective credit needs and enhance the stability of credit growth. Strengthen the implementation and transmission of interest rates to promote the stabilization and decline of comprehensive social financing costs. Enhance the resilience of the foreign exchange market, stabilize market expectations, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.

▌CZ: Binance holds a small stake in X platform

Binance United Founder CZ Yu X responded to a community question, "Can Binance now be considered to own shares of the

▌Craig Wright was sentenced to 12 months in prison, suspended for two years

Australian scientist Craig Wright, who claimed to be Satoshi Nakamoto, was found in contempt of court and sentenced to 12 months in prison, suspended for two years. It is reported that he appeared in court via video link and refused to disclose his specific location, but said he would appeal. Previously, Wright launched a £900 billion "legal action" involving intellectual property rights. In March this year, a British judge ruled that Wright was not Satoshi Nakamoto. The Cryptozoological Open Patent Alliance (COPA) first filed suit against Wright in April, seeking to block Wright from asserting copyright claims to the Bitcoin white paper and database. During the trial, two key figures took the stand, including Adam Back, a pioneer of Bitcoin’s proof-of-work consensus system.

▌French regulators authorize BPCE subsidiary to conduct cryptocurrency business

The French financial market regulator Autorité des Marchés Financiers (AMF) has approved French bank BPCE to conduct cryptocurrency business. According to an official notice issued by the AMF on December 20, BPCE’s cryptocurrency subsidiary Hexarq has Hexarq is licensed as a Crypto Asset Service Provider (CASP). Officially authorized to provide a range of crypto services, including crypto custody, as well as buying, selling and trading cryptocurrencies against the euro

▌Russian Central Bank Governor Nabiulin. Nabiulina: We do not plan to invest in cryptocurrencies

Russian Central Bank Governor Nabiulina: We do not plan to invest in cryptocurrencies

▌French Hill: A comprehensive crypto market structure bill will be introduced within the first 100 days of the legislative session

French Hill, the new chairman of the US House of Representatives Financial Services Committee, said that the United States is urgently The need for a crypto market structure bill is a “top priority” for the Republican Party, with plans to introduce a comprehensive crypto market structure bill within the first 100 days of the upcoming legislative session. The approval of the market structure bill will eliminate the regulatory uncertainty that has shrouded the U.S. crypto industry for years. Pro-crypto legislation may pave the way for the United States to promote digital asset innovation and prevent the offshore outsourcing of crypto companies. French Hill also criticized the U.S. Securities and Exchange Commission. The current regulatory approach under (SEC) Chairman Gary Gensler. “Under Chairman Gensler, we didn’t write the rules of the road,” he said. We only have law enforcement supervision. This will not help America succeed, nor will it help technological advancement, Web3 innovation, or the adoption of blockchain in public companies and financial services. ”

▌The Ohio House of Representatives in the United States submitted a bill to establish a strategic Bitcoin reserve

Ohio, United States The state House of Representatives submitted a bill to establish a strategic Bitcoin reserve for the state

▌The US SEC approved the listing application of Hashdex Nasdaq and Franklin Crypto Index ETF

According to documents released by the U.S. Securities and Exchange Commission (SEC), it has approved Hashdex’sStark and Franklin Crypto Index ETF Listing Applications. These two ETFs will hold both Bitcoin and Ethereum spot, determine the allocation ratio based on market capitalization free circulation, and will be listed and traded on Nasdaq and Cboe BZX exchange respectively.

▌Bank of America survey: Affected by Trump’s second term and other factors, investor sentiment was super optimistic in December

Bank of America's December global fund manager survey found that investor sentiment was "super optimistic" in December. According to the report, investors' allocation to cash is at an all-time low, while allocation to U.S. stocks is at an all-time high. According to the report, global risk appetite is at a three-year high, driven by optimism about economic growth related to Trump's second term and the Federal Reserve's interest rate cuts.

▌CITIC Securities: It is expected that the Federal Reserve will not be able to launch a digital dollar during Trump's term

CITIC Securities said that looking forward, Trump may establish a cryptocurrency advisory committee and consider using Bitcoin as a U.S. strategic reserve asset. Even if the U.S. Congress advances the Bitcoin reserve plan, we expect that its speed will be slow and the process will be bumpy, which will have limited impact on the global U.S. dollar reserve currency system. However, it is expected that cryptocurrency payments will be promoted, especially stablecoins may be more widely used in cross-border payments. Given that the Republicans won both houses of Congress and Trump expressed his opposition to the digital dollar during this election, it is expected that the Federal Reserve will not be able to launch a digital dollar during Trump’s term. The Federal Reserve will still mainly focus on traditional economic indicators and cryptocurrency. The impact on its currency is minor. In the Trump 2.0 era, cryptocurrencies may amplify the volatility of the US stock market to a certain extent and trigger a redistribution of liquidity among different assets. Cryptocurrencies will occupy a more important position in overseas asset allocation portfolios, and it is expected that U.S. cryptocurrency-related targets will also benefit from dividends.

▌Ukraine plans to legalize cryptocurrencies in early 2025

According to Ukrainian Pravda newspaper, Cryptocurrencies are expected to be legalized in Ukraine by the first quarter of 2025, but tax relief is unlikely to be provided. Danylo Hetmantsev, chairman of the Finance, Taxation and Customs Committee of the Ukrainian Parliament, said: “When it comes to cryptocurrencies, the parliament’s working group is completing the first reading of a draft law. I believe that the text developed in cooperation with banks and the International Monetary Fund (IMF) It will be ready after the new year. Our goal is to pass this law and legalize cryptocurrencies in the first quarter of 2025,” Hetmantsev said.Cryptocurrencies will not be tax exempt and the tax will be in the form of securities, with profits taxed when the assets are converted into currency. “In consultation with European experts and the IMF, we are taking a very cautious approach to the use of cryptocurrencies for tax exemptions, as this could exacerbate tax evasion in traditional markets,” he said.

Blockchain applications

▌Digital bank and blockchain platform Metallicus acquires Bonifii, connecting more than 70 credit unions to the Metal blockchain

< p style="text-align: left;">Digital banking and blockchain platform Metallicus has announced the acquisition of fintech services company Bonifii, a Credit Union Service Operator (CUSO) connected to 70 credit unions. The acquisition brings Metallicus’ total number of credit union partners to more than 80, more than 16 of which already leverage Metal blockchain technology. Prior to the acquisition, Bonifii had raised approximately $20 million in several early-stage investment and seed rounds. Details of Metallicus’ financial health appear to have not been made public, with CoinMarketCap reporting that Metal Blockchain has a market capitalization of $13.65 million.

▌Tether CEO: Tether’s AI platform website is expected to be launched by the end of the first quarter of next year

Tether CEO Paolo Ardoino posted on the X platform that Tether’s AI platform website is expected to be launched by the end of the first quarter of next year.

▌Binance Wallet launches Binance Alpha to enhance pre-listing transparency and focus on potential projects

On December 17th, Binance announced the launch of Binance Alpha, a new platform within Binance Wallet (formerly Binance Web3 Wallet) that aims to focus on potential early-stage blockchain projects and help users explore Alpha opportunities. Binance Alpha is a platform that showcases tokens that may be considered for listing on the Binance Exchange in the future. It will serve as a "pre-listing token selection pool" and is committed to improving the transparency and fairness of the token listing process on the Binance Exchange. Information about the upcoming tokens will be released in advance on Binance Wallet and Binance’s official social platform. Users can view the countdown and on-chain details in the "Quotes" tab of the Binance wallet, and purchase tokens through the "Quick Buy" function. The "Quick Buy" function can bypass the existing Swap function in Binance wallet, making the transaction process faster and smoother.Offering higher transaction success rates and increased compensation prices. Winson Liu, global head of Binance Wallet, said: “By publicly showcasing a selection of early-stage projects, Binance Alpha cultivates the trust of the community, provides users with insights into tokens with future growth potential, and helps them understand how these tokens can grow in the future. Growth within the Binance ecosystem ”

▌Deutsche Bank launches Layer2 network based on ZKsync technology

German financial giant Deutsche Bank is developing an Ethereum Layer 2 blockchain network based on ZKsync technology. The project aims to address the compliance challenges of public blockchains in regulated finance by improving transaction efficiency and enhancing regulatory compliance. The development is part of the Project Guardian project promoted by the Monetary Authority of Singapore (MAS), and Deutsche Bank’s L2 network has been named Project Dama 2. The project brings together 24 financial institutions to explore the possibility of tokenizing blockchain assets.

▌MetaMask expands crypto payment card pilot program, allowing US users to pay directly through wallet

MetaMask has expanded its crypto payment card pilot program in the United States, allowing users to pay directly from their wallets.

Cryptocurrency

▌Coinbase released the 2025 crypto market outlook, focusing on five areas including stablecoins, RWA tokenization, and DeFi

Coinbase recently released its cryptocurrency market outlook, focusing on five areas worthy of attention in 2025: 1. Stablecoins have just started 2. RWA tokenization is expected to achieve substantial growth 3. Crypto ETFs Changed the supply and demand dynamics of cryptocurrencies forever 4. DeFi renaissance will propel it into a new era 5. Regulation will eventually turn from headwinds to tailwinds

▌Since EIP- Since the deployment of 1559, more than 4.5 million ETH have been destroyed, worth more than 15.3 billion US dollars

Data shows (as of this weekend) that since August 5, 2021 Since the activation of the London hard fork on Sunday, the Ethereum network has destroyed more than 4.5 million ETH, worth more than $15.3 billion at current prices. This upgrade includesEIP-1559 opens a mechanism to burn part of transaction fees, effectively reducing the supply of ETH in circulation. Although approximately 4.5 million ETH have been burned to date, ultrasound.money data suggests that Ethereum has not become deflationary as some industry figures predicted. Currently, the network’s inflation rate has increased slightly to 0.820%, with an additional 3,245,017.99 ETH entering circulation since the London fork.

▌ Last week, the trading volume of NFT collectibles reached US$304 million, and Ethereum NFT increased by 76% month-on-month

According to a CryptoSlam report, Ethereum NFT grew 76% month-on-month, with sales reaching $201 million. This represents 66% of all NFT sales over the past seven days. Sales of Bitcoin-based NFTs were $40 million, while sales of Solana-based collectibles were $29 million. Mythos Chain, Immutable, Polygon, and BNB Chain have a combined weekly trading volume of $25.9 million. The week’s volume also surpassed September’s record NFT sales of $296 million, which saw the digital collectible’s lowest monthly volume of 2021.

▌Goldrepublic architect: BRIC focuses on digital currencies backed by gold

Goldrepublic content architecture Analyst Alexej Jordanov wrote that the BRICS has shown strong interest in developing a gold-backed digital currency, which is one of the efforts to reduce international trade's dependence on the U.S. dollar. The article was published on Friday by the Official Monetary and Financial Institutions Forum (OMFIF).

▌The Trump family’s encryption project WLFI has suffered losses in its recent purchases of tokens, with losses reaching US$6.15 million

According to Lookonchain monitoring, the tokens recently purchased by the Trump family encryption project WLFI have fallen into losses, including ETH, WBTC, AAVE, LINK, ENA and ONDO. The losses have reached US$6.15 million, with the largest loss coming from At ETH, the amount of losses was approximately $4.86 million.

Important Economic Trends

▌Central Economic Work Conference: It is necessary to implement appropriateLoose money, timely reductions in reserve requirements and interest rates

The Central Economic Work Conference was held in Beijing from December 11th to 12th. The meeting pointed out that it is necessary to implement moderately loose monetary policy, cut reserve requirements and interest rates in a timely manner, maintain sufficient liquidity, and increase the scale of social financing and money supply to match the expected goals of economic growth and overall price levels. Explore and expand the macro-prudential and financial stability functions of the central bank. It is necessary to strike a good combination, strengthen the coordination and cooperation of finance, currency, employment, industry, region, trade, environmental protection, supervision and reform and opening up measures, improve the effective communication, consultation and feedback mechanism between departments, and integrate the economic and non-economic aspects into the macro orientation Consistency assessment to improve overall effectiveness.

The probability that the Federal Reserve will keep interest rates unchanged in January next year is 91.4%

According to CME "Fed Watch" shows that the probability of the Fed keeping interest rates unchanged in January next year is 91.4%, and the probability of cutting interest rates by 25 basis points is 8.6%. The probability of keeping current interest rates unchanged by March next year is 53%, the probability of a cumulative 25 basis point interest rate cut is 43.4%, and the probability of a cumulative 50 basis point interest rate cut is 3.6%.

▌Federal Reserve Goolsbee: Inflation rate is still expected to reach 2%

Federal Reserve Bank of China Ilby said inflation was still on track to hit 2% and today's data showed the recent strengthening in inflation was just a "bump". He also said that his prediction is that the interest rate path in 2025 will be slightly lower. Interest rates are likely to fall significantly over the next 12 to 18 months.

▌Powell: The Fed has no intention of holding Bitcoin

Currently surrounding the incoming Trump administration Debate continues over whether Trump will establish a Bitcoin reserve. Federal Reserve Chairman Jerome Powell said the Fed has no intention of holding Bitcoin. "We are not allowed to hold Bitcoin," Powell said at a press conference after the FOMC meeting. As for the legal issues of holding Bitcoin, Powell said, "It is something for Congress to consider, but we have no intention of seeking to Change the law. ”

▌Opinion: The Fed’s subsequent interest rate cuts may depend on Trump

IG Market Strategist Yeap Jun Rong wrote in a note that the trajectory of future Fed rate cuts may depend on Trump's decisions, which remain unclear at this stage. Yeap says Trump initiallyThe talk about tariffs sounds radical, however, the extent to which these measures will be implemented is uncertain. As clarity grows, the Fed may initially favor a shallower rate-cutting cycle. He added that with the Federal Reserve meeting concluding and the Bank of Japan keeping interest rates unchanged as expected, U.S. stocks are expected to gradually rise in the final weeks of 2024. However, Yeap said that due to the lack of further catalysts, a new record high may not be reached by the end of the year.