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.

▌Biden ordered the executive departments to close on January 9, 2025

On December 30, local time, US President Biden ordered all federal executive departments and agencies to close in 2025 It was closed on January 9th to pay tribute to Jimmy Carter, the 39th President of the United States who passed away on the 29th. Biden said in the statement that for reasons of security, national defense or other public needs, the heads of federal executive departments and agencies may decide that some offices and facilities will remain open. Previously, the White House had declared January 9, 2025, as a national day of mourning to commemorate Carter.

▌Do Kwon was extradited to the United States

According to Bloomberg, Montenegro Prime Minister Milojko Spajic said on Tuesday that Montenegro has completed the extradition of Terraform Labs co-founder Do Kwon and handed him over. to the United States. He posted on the X platform: This extradition demonstrates our firm commitment to international justice and the rule of law. Do Kwon is facing dual prosecution in New York and Seoul over the 2022 TerraUSD stablecoin crash that resulted in $40 billion in losses. He was previously arrested in Montenegro for using a forged passport. In April, Terraform Labs and Do Kwon were found guilty of fraud in a civil lawsuit filed by the U.S. Securities and Exchange Commission (SEC), and Terraform agreed to pay a $4.5 billion settlement.

▌Ethereum may outperform Bitcoin in 2025

Steno Research said in a report on Sunday that it expects the price of Bitcoin to drop from about $94,000 next year to a minimum of $150,000, while the price of ETH will more than double, rising from $3,400 to at least $8,000. Namely, the ETH/BTC exchange rate will rise to 0.06 over the next 12 months from the current level of 0.0357, similar to the price action in previous cycles, with altcoins taking center stage. Analyst Mads Eberhardt wrote: “This expectation is partly based on the argument that Donald Trump winning the U.S. presidential election would be more beneficial for altcoins than Bitcoin.” The report said that Bitcoin’s market share is expected to increase from approximately 56.6% dropped to 45%. The TVL of decentralized applications is expected to reach a new high of $300 billion next year, which, if the forecast is correct, further supports the argument for rising altcoin prices.

▌Analysis: The implementation of the MiCA Act brings uncertainty about USDT compliance, which may affect the EU encryption market structure

The EU’s MiCA Act has officially come into effect, but Tether’s USDT has not yet received compliance certification, which has triggered concerns about its future in the EU market. MiCA imposes strict requirements on stablecoin issuers. Big-name stablecoins such as Tether face capital reserve and liquidity requirements, which may lead to their withdrawal from the EU market. Still, Tether’s large market capitalization and global adoption make it unlikely to suffer an immediate financial hit. At the same time, some exchanges in the EU have begun to take measures to deal with the new regulations, and Coinbase Europe has removed stablecoins such as USDT from its shelves. Analysts said MiCA would push some small and large companies out of the EU, promote market consolidation and could bring higher investment and operating costs.

▌The judge postponed the trial between the CFTC and Gemini to January 21

New York Court Judge Alvin Hellerstein decided to postpone the trial between the U.S. Commodity Futures Trading Commission (CFTC) and Gemini Trust. The civil case trial has been postponed to January 21, 2024. The original trial date was January 13. The case stems from 2022 CFTC charges against Gemini, accusing it of making false or misleading statements to the CFTC when it applied to offer Bitcoin futures contracts in 2017. The postponed trial date will coincide with the new president taking office, which may affect the CFTC’s stance on Gemini and other encryption companies. The court stated that no further postponement would be granted except in exceptional circumstances.

▌Blockchain Association sues the U.S. IRS over digital asset reporting rules

The U.S. Internal Revenue Service (IRS) recently issued new regulations requiring crypto platforms (including decentralized exchanges) to report Digital asset transaction information, and stipulates that from 2027, the platform must disclose taxpayer information involved in digital asset transactions and their sales revenue. In response, the Blockchain Association and the Texas Blockchain Association jointly sued the IRS, arguing that the rule violated the U.S. Administrative Procedure Act and may have a negative impact on the U.S. encryption and decentralized finance (DeFi) industry. Blockchain Association CEO Kristin Smith said the lawsuit aims to protect the future of the U.S. crypto industry and support the interests of innovators.

▌Hong Kong Legislative Council Member Wu Kit-chuang: The SAR can refer to the securities industry to establish a DAO licensing system

Wu Kit-chuang, chairman of the Hong Kong Legislative Council, Web3 and Virtual Asset Development Forum Committee, said that Hong Kong The High Court heard the world's first lawsuit involving a decentralized autonomous organization (DAO) in August this year. Currently, the United States and Abu Dhabi have relevant legal frameworks to regulate DAO. Since DAO has no legal subject, it is recommended that the SAR A DAO licensing system can be established by referring to the licensing system in the securities industry, which requires licensed DAOs to clarify internal individual relationships and must establish a responsible officer (RO) to ensure that the licensed company complies with the regulations of the regulatory agency and maintains the company's daily operations.

▌Syria proposes to merge BitcoinLegalization to promote economic recovery

According to Cryptopolitan, the Syrian Economic Research Center has proposed a plan to urge the transition to the adoption of Bitcoin and other digital assets to combat inflation, stabilize the economy, and attract global investment. The plan comes as the country faces huge reconstruction challenges after decades of war and financial disaster. The proposal focuses on Bitcoin as a lifeline for Syrian citizens and its crumbling financial system. It proposes the creation of a regulatory framework to legalize the use of Bitcoin in trading, mining and financial transactions.

▌U.S. prosecutors filed additional charges against Do Kwon for conspiracy to commit money laundering

The U.S. Attorney’s Office revealed that Terraform Labs co-founder Do Kwon also faces one additional charge after being extradited to the United States from Montenegro. Additional charges: Conspiracy to launder money.

In an indictment announced by the U.S. District Court for the Southern District of New York on January 2, U.S. Attorney Damian Williams accused Do Kwon of conspiring with others to launder money. Money laundering charges were not initially included in the eight-count indictment against Do Kwon in March 2023.

▌Musk: Community Notes is completely decentralized and open source

Musk said on X that the best way to ensure the accuracy of the Community Notes system is Become a contributor. He emphasized that the system is completely decentralized and open source, including code and data, and any manipulation will be easily discovered. Musk further stated that X and his team, including himself, had no editorial control over the system. The way the system works is that people who once disagreed must agree in order for a certain note to show up.

▌Phala Network founder: eve will refer to aiPool and introduce the fourth-generation token issuance model

PhalaNetwork founder Marvin Tong posted on his social platform that eve will refer to aiPool and introduce The fourth generation token issuance model. The token distribution arrangement for the new model is as follows: 65% of the new tokens will be distributed to whitelisted contributors in proportion to their confirmed contributions. 20% of new tokens are created with SPORE to create a liquidity pool on Metaora/Raydium and burn LP to lock in value. 10% is held by the new AI agent for its initial operations and autonomy. 5% will be sent to the parent company AI’s wallet as profit sharing. 10% is held by the new AI agent for its initial operations and autonomy. 5% will be sent to parent company AI’s wallet as profit share.

▌Trader Eugene: PENGU is basically a replica of APE

Trader Eugene posted on the X platform that PENGU is basically a replica of APE.Edition, but with a functioning team that knows how to execute projects under Luca Netz and a major upcoming catalyst, the launch of Abstract Chain in January. “I like the fact that we’ve run a full airdrop fractal and the early players have essentially exited this phase completely so that we can now have proper price discovery in 2025,” said Eugene. p>

▌Floki DAO voted unanimously to approve the ETP funding proposal

Floki The DAO voted unanimously to use 16.3 billion Floki tokens as liquidity to support an exchange-traded product (ETP) that will be launched in the first quarter of 2025. The product will be listed on the Swiss SIX Stock Exchange, providing traditional European financial investors with access to Floki tokens.

▌Starknet: Stwo prover will be launched on Starknet in April 2025

Ethereum Layer 2 network Starknet announced on the X platform that Stwo prover will be launched on Starknet in April 2025 , this product is about 940 times more efficient than the current Starknet prover, and proof will no longer be a bottleneck.

▌ZachXBT: Blockchain Bandit transferred 51,000 ETH, approximately US$172 million, after 2 years of dormancy

Hacker Blockchain Bandit stole 51,000 Ethereum primarily by successfully guessing weak private keys. After being dormant for nearly two years, blockchain investigator ZachXBT said in a Telegram post on December 30 that all 51,000 Ethereum was stolen from 10 The wallet address was transferred to the multi-signature address "0xC451D542". These funds were mainly transferred in batches of 5,000 Ethereum between 8:54 pm UTC and 9:18 pm UTC on December 30.

Prior to this, the stolen funds had been dormant in these 10 wallet addresses since 51,000 Ethereum was transferred on January 21, 2023. Around the same time, the hacker also transferred 470 Bitcoins.

▌The net outflow of GBTC yesterday was US$134.5 million, and the net outflow of ETHE was US$17.4 million.

According to Farside According to Investors monitoring data, the capital data of the US spot Bitcoin ETF and spot Ethereum ETF yesterday (December 30) are as follows:

Spot Bitcoin ETF: GBTC net outflow of US$134.5 million, BTC net outflow of US$31.7 million , BITB had a net outflow of US$31.4 million;

Spot Ethereum ETF: ETHE had a net outflow of US$17.4 million, and ETH had a net outflow of US$13.8 million.

▌CZ: We don’t predict trends, we follow trends and strive to contribute

Binance founder CZ posted on the ? Frankly, I don’t know. I try to help as many projects as possible and see where they take us. We don’t predict trends, we follow them (and try to contribute). ” ▌QCP: Bitcoin’s upward momentum weakens at the end of the year, outlook Institutional allocation may be key in 2025

QCP Capital pointed out that as the end of the year approaches, BTC’s momentum has significantly weakened, and its upward trend has been limited by selling pressure. Since December 19, spot ETFs have experienced a net outflow of US$1.8 billion. MicroStrategy’s BTC purchases have slowed significantly. Looking ahead to 2025, the key catalyst is likely to occur in January as institutions readjust their asset allocations, with the proportion of institutional allocations to Bitcoin expected to increase, consolidating market dominance, stabilizing spot volatility, and driving growth in market demand for downside protection.

▌CryptoQuant: Binance stablecoin reserves hit a new high of $31 billion, indicating that buying pressure is rising

CryptoQuant contributor Darkfost posted that Binance stablecoin reserves reached a new high in December It reached US$31 billion on the 11th, a record high. Notably, Binance’s stablecoin reserves stood at just $7 billion in June 2023, growing nearly fivefold since then. An increase in stablecoin reserves usually means buying pressure is rising. The current reserve level remains at around US$30 billion, which shows that investors are still actively active in the market and may continue to maintain strong buying pressure.

▌Montenegro Prime Minister: We welcome entrepreneurs in legal cryptocurrency, AI and other fields, and have zero tolerance for fraud

Montenegro Prime Minister Milojko Spajic posted on the X platform: "We welcome innovation and Legitimate cryptocurrency, artificial intelligence and other technology entrepreneurs, but we have zero tolerance for fraud.” Earlier news, Bloomberg revealed that Montenegro Prime Minister Milojko Spajic said that Do Kwon’s US extradition process has been completed, Milojko. Spajic said the extradition demonstrated a strong commitment to international justice and the rule of law.

▌Hack VC: Web2 companies will return to the crypto market in 2025

Hack VC expects more large-scale acquisitions in 2025 due to continued bull market sentiment towards cryptocurrencies Interested web2 companies may return. Ed Roman, co-founder and managing partner of Hack VC, said: “These Web2 buyers have been inactive for the past few years due to the NFT crash and FTX crash, but we expect them to return as crypto enters its peak season again, In addition, due to theseCompanies often lack crypto expertise or technology, so it's easier to acquire some than develop your own. ”

▌The total sales of NFT in 2024 will reach US$8.8 billion, an increase of 1.1% compared with 2023.

According to CryptoSlam data, the total sales of NFT in 2024 will reach US$8.8 billion, an increase of 1.1% compared with 2023. The annual growth rate is 1.1%, showing that the NFT market is still active. Ethereum and Bitcoin blockchains are at the forefront with sales of US$3.1 billion, and Solana ranks at the top with sales of US$1.4 billion. Third.

▌Aave deposits reached a record high of US$33.4 billion

The total net deposits of the decentralized financial platform Aave exceeded US$33.4 billion, a record high, surpassing 2021. bull market level. In 2024, Aave will launch the V4 version and expand its GHO stablecoin to multiple blockchain networks. In addition, Aave has added support for BNB chain, Scroll, and ZKsync. Era and ether.fi, and plans to introduce Sonic network, Mantle, Linea, BOB, Spider Chain and Aptos network in 2025, which requires community approval.

▌44.32 BTC flowed into the Grayscale Bitcoin Mini Trust. Fund, worth US$4.31 million

According to Arkham monitoring, around 00:45 Beijing time today, 44.32 BTC were transferred from Coinbase Prime hot wallet address flows into Grayscale Bitcoin Mini Trust Fund, worth $4.31 million

▌VanEck Research Director: The chance of US Solana ETF listing in 2025 exceeds 77%

Cryptocurrency. Forecasting platform Polymarket previously stated that the probability of the US Solana ETF being listed in 2025 is about 77%. Matthew Sigel, director of research at VanEck, said that this prediction is "underestimated" in 2024. In June, VanEck and rival asset manager 21Shares sought permission from U.S. regulators to list the spot Solana ETF. In November, shortly after Trump won the U.S. presidential election, Matthew Sigel said the U.S. would approve the SOL ETF in 2025. The possibility is "extremely high"

▌DWF Labs: Meme currency has transformed into a vertical market, and the growth trend will continue in 2025

DWF Labs Noting in its year-end report that Meme coins have transformed into "complex vertical markets" and that Meme coins represent "unprecedented" opportunities to create value, the company said the combination of "social dynamics" and "financial markets" is more than just is a temporary fad and represents a new investment paradigm, such asWhat started as a satirical commentary on cryptocurrencies has grown into a sophisticated vertical market that has attracted significant capital flows and institutional attention.

In addition, DWF Labs also noted that Meme coin market capitalization has surged 500% from $20 billion to $120 billion, a trend that the company believes may continue in the new year.

▌The probability that the Federal Reserve will keep interest rates unchanged in January next year is 88.8%

According to CME's "Fed Watch", the probability that the Federal Reserve will keep interest rates unchanged in January next year is 88.8% %, the probability of a 25 basis point interest rate cut is 11.2%. The probability of keeping current interest rates unchanged by March next year is 46.2%, the probability of a cumulative 25 basis point interest rate cut is 48.4%, and the probability of a cumulative 50 basis point interest rate cut is 5.4%.

▌The U.S. dollar index rose 0.13% on December 30

The U.S. dollar index, which measures the U.S. dollar against six major currencies, rose 0.13% that day and closed at 108.132 in the late foreign exchange market. As of late trading in New York, 1 euro was worth $1.0397, down from $1.0428 on the previous trading day; 1 pound was worth $1.2544, down from $1.2582 on the previous day. 1 U.S. dollar was exchanged for 157.09 Japanese yen, lower than 157.94 yen on the previous trading day; 1 U.S. dollar was exchanged for 0.9040 Swiss francs, higher than 0.9018 Swiss francs on the previous trading day; 1 U.S. dollar was exchanged for 1.4359 Canadian dollars, lower than the previous trading day 1.4411 Canadian dollars; 1 US dollar exchanged for 11.0249 Swedish kronor, higher than the previous trading day's 11.0011 Swedish kronor.

▌Federal Reserve Daly: Cryptocurrencies should not be confused with gold and are still far from becoming a “currency”

San Francisco Fed President Daly said that cryptocurrencies should be considered independent asset class, rather than being lumped together with gold as is often the case, and cryptocurrencies are complex and not yet ready to be a “money”. “I think cryptocurrency is a complex thing and what we need to provide for everyone is to really decipher what it means and once we do that, we can define it,” Daly said on the podcast. "It could be a currency, it could be a medium of exchange, it could be a stock, an asset that holds its value or sometimes loses value. We just have to define those terms." "So I don't think it's like gold," Daly added. "It sometimes has gold-like properties, but I don't think it is a gold-like asset."

▌The probability that the Federal Reserve will keep interest rates unchanged in January is 88.8%

According to CME "Fed Watch" shows that the probability of the Fed keeping interest rates unchanged in January is 88.8%, and the probability of cutting interest rates by 25 basis points is 11.2%. The probability of keeping current interest rates unchanged by March is 47.1%, the probability of a cumulative 25 basis point interest rate cut is 47.7%, and the probability of a cumulative 50 basis point interest rate cut is 5.3%.