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.

▌Nvidia surpasses Apple and becomes the world's largest company by market capitalization

Golden Financial Report , according to CompaniesMarketCap data, Nvidia surpassed Apple and became the world's largest company by market value.

Data shows that Nvidia’s market value is approximately US$3.72 trillion, while Apple’s market value is approximately US$3.719 trillion.

▌Trump plans to issue a series of executive orders within hours of being sworn in

U.S. President-elect Donald Trump plans to issue a series of executive orders on issues such as immigration, energy, federal workers and regulatory reform within hours of taking office on January 20, striving to quickly and comprehensively implement his policy guidelines. The executive orders he plans to issue include actions to tighten border crossing restrictions; authorize the federal government to complete the unbuilt border wall; establish a mechanism for mass deportations; and strip federal resources from sanctuary cities until they stop providing protections for undocumented immigrants. The Trump team also plans to cut the number of federal employees through a hiring freeze and force federal employees to return to their offices.

▌Biden plans to strengthen export controls on AI chips before leaving office

According to foreign media reports , the United States Biden plans to implement a new round of restrictions on the export of artificial intelligence chips from companies such as Nvidia (NVDA.O) before leaving office. According to people familiar with the matter, the United States wants to restrict the sales of artificial intelligence chips used in data centers at the government and company levels, with the goal of focusing artificial intelligence development on friendly countries and forcing global companies to align with U.S. standards. The move will extend semiconductor restrictions to much of the world at a time when demand for AI technology is surging. People familiar with the matter said the new regulations, which will set up three levels of restrictions on chip trading, could be released as soon as Friday. Affected by this news, Nvidia, AMD (AMD.O), etc. fell after the U.S. stock market opened.

▌Trump may be sentenced before taking office as President of the United States

Local time 1On March 7, Judge Alan Gesmer of the U.S. Court of Appeals in New York rejected President-elect Trump’s latest request to postpone the sentencing process in his “hush money” case. Trump's lawyers argued that as president-elect he enjoys the same immunity from criminal prosecution as presidents, but that argument was rejected by the courts. With less than two weeks until Trump takes office, presidential immunity could delay the case until he leaves office if the sentencing is not completed before the start of his second term on January 20. The court's ruling means that Trump's sentencing is still scheduled for January 10. However, Trump and his legal team said they would continue to pursue legal avenues to delay or cancel the sentencing.

▌Economic Daily: Focus on lowering the threshold for artificial intelligence application

The article stated that technological progress is The key to lowering the threshold for artificial intelligence application. This requires increasing investment in scientific research, strengthening independent research and development capabilities, and achieving more breakthroughs in key areas such as smart chips and operating systems. Consolidate the technical base of computing power, algorithms, data, etc., and cultivate a number of general large models and industry large models. Vigorously develop intelligent products, promote intelligent software applications, and promote the upgrading of consumer terminals such as home appliances and mobile phones to strong intelligence. Better play the role of enterprises as innovation entities, not only encourage industry-university-research cooperation and support leading enterprises in creating typical benchmarks for new industrialization enabled by artificial intelligence; but also build artificial intelligence infrastructure to serve small and medium-sized innovative enterprises and lower the threshold for them to participate in the artificial intelligence market. Forming a market competition pattern where a hundred flowers bloom.

Fox reporter: The U.S. Senate Banking Committee will establish the first subcommittee dedicated to cryptocurrency

According to Fox Business reporter Eleanor Terrett's post on the X platform, the U.S. Senate Banking Committee, led by Senator Tim Scott, will establish its first subcommittee dedicated to cryptocurrency. The subcommittee will be modeled after the Republican Financial Services Subcommittee established in 2023 by Patrick McHenry.

Senate aides confirmed that Senator Cynthia Lummis has been preliminarily selected as subcommittee chairperson, pending a vote by the full committee. It is reported that a vote to approve Cynthia Lummis and new Republican and Democratic members (still being decided) may take place next Thursday, when Trump’s nomination hearing for Housing and Urban Development Secretary Scott Turner will be held.

▌Oklahoma legislators submitted the "Bitcoin Freedom Act" to allow employees in the state toReceive Payroll

U.S. Senator Dusty Deevers of Oklahoma has submitted the "Bitcoin Freedom Act" numbered SB325, which would allow Oklahomans to The state’s employees have chosen to receive their paychecks in Bitcoin and allowed vendors to accept Bitcoin payments. SB325 ensures that participation is completely voluntary, respects free market principles, and gives employees, employers, and businesses the right to choose the payment method that works best for them. SB325 is eligible for consideration in the 60th legislative session, which begins on February 3.

▌The Chairman of the U.S. CFTC focused on cryptocurrency in his speech before leaving office and emphasized the necessity of the CFTC as its regulatory agency

U.S. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam will resign as chairman on January 20 to make way for future appointees of President-elect Donald Trump. He spent much of his final public speech this week at the Brookings Institution talking about cryptocurrencies and the need to elevate the CFTC as its regulator.

Rostin Behnam said cryptocurrencies have “dominated every period of my tenure,” saying: “The lack of federal legislation has raised concerns about customer protection, an increase in fraud and market abuse, broader market resiliency, and even financial stability. It's exacerbating, and we've seen this in history where we've put a lot of financial operations outside of oversight and responsibility, and we've seen time and time again that it ends badly." He also urged protections that "are eager to move away from oversight and accountability. investors who incorporate digital asset products into their investment portfolios.

▌U.S. Senator Cynthia Lummis met with U.S. SEC Chairman nominee Paul Atkins to discuss digital asset legislation and rule reform issues

On January 8, U.S. Senator Cynthia Lummis met with U.S. Securities and Exchange Commission (SEC) Chairman nominee Paul Atkins to discuss digital assets Legislative and regulatory reform issues. She hinted at possible changes in the future, joking that she wanted the SEC to enter "Atkinsdiet mode."

Previously reported that on August 1, 2024, U.S. Senator Cynthia Lummis of Wyoming formally proposed the "Bitcoin Strategic Reserve Act"Bill, which would direct the United States to establish a reserve fund for this scarce decentralized asset. The bill also sets a long-term goal of accumulating 1 million Bitcoins over time, representing approximately 5% of the total Bitcoin supply. The bill plans to use existing U.S. Treasury funds to purchase Bitcoin in an amount corresponding to the U.S. Treasury’s gold allocation.

▌Trump proposed a number of surprising strategies at the press conference, and many countries responded

At sea At a press conference held in Lake Manor, U.S. President-elect Trump made a number of shocking statements in just one hour and escalated his rhetoric on sovereignty issues related to Canada and other countries. He called for the use of economic means to absorb Canada as part of the United States, did not rule out the use of force to seize the Panama Canal and Greenland, and asked NATO to increase defense spending to 5% of GDP. He also vowed that "the Middle East will descend into chaos" if Hamas does not release the Israeli hostages before he takes office. In addition, Trump also promised to rename the Gulf of Mexico to the "Gulf of America." He did not explain how these seemingly impossible promises would be achieved, other than threatening to impose tariffs on uncooperative countries, including Denmark. In this regard, many parties responded to Trump's relevant remarks. Canadian Prime Minister Trudeau said that Canada could not become a state of the United States. The country's foreign minister said that he would never retreat in the face of threats; the Danish Prime Minister reiterated that Greenland is not for sale; the President of Panama responded that he would not back down under Trump. Before taking office, he commented on Trump’s remarks about the Panama Canal. Foreign media commented that these words of Trump are consistent with a bolder posture, that is, Trump believes that he has been authorized (by the people and the Electoral College) to speak and act almost as he wants.

▌U.S. court documents show that the number of victims in the Do Kwon case may exceed one million

According to Cointelegraph, U.S. prosecutors overseeing the criminal case against Terraform Labs co-founder Do Kwon estimated that Do Kwon may have caused more than a million victims worldwide after the collapse of the Terra ecosystem. On January 6, Acting U.S. Attorney Daniel Gitner of the U.S. Federal Court for the Southern District of New York notified the court of the process for informing Kwon’s victims of their rights in the criminal case. A website about the public proceedings in Kwon's case will be set up because other methods of providing victims with rights protections are "impractical," according to U.S. prosecutors.

Gitner said: "Given the Terraform cryptocurrencyWhile it is difficult to precisely quantify the number of Kwon's victims, it is difficult to precisely quantify the number of Kwon's victims due to the sheer number of transactions and the manner in which those transactions were conducted (many of which were conducted on foreign exchanges through digital asset wallets or cryptocurrency trading accounts without personally identifiable information). The number of victims exceeds hundreds of thousands of individuals and entities and may total more than one million. ”

▌A U.S. judge rejected Trump’s request to postpone the sentencing process in his “hush money” case

On January 6, local time, New York State Supreme Court Judge Juan Mercan rejected President-elect Trump’s request to postpone the sentencing process in his “hush money” criminal case. It is understood that Trump’s Attorneys may continue to appeal to the New York Court of Appeals

Earlier on the 6th, Trump's lawyers filed an appeal against the ruling in his "hush money" criminal case and applied to the judge to postpone the sentencing process scheduled for this week. A jury of 12 people will be in 2024 On May 30, 2016, it was ruled that in order to conceal the $130,000 "hush money" paid to an adult film actress during the 2016 U.S. presidential election, Trump falsified business records and violated relevant New York State laws, involving 34 items. Criminal charges established

▌Animoca Brands: memecoin is expected to launch its own L1 or L2

Animoca Brands co-founder Yat Siu In an interview, he said that the crypto industry is at an inflection point similar to what he observed when the Internet first changed business in the 1990s. The first part of the mass adoption of cryptocurrencies in 2025 is the adoption of stablecoins, and the next step will be the adoption of stablecoins. Memecoin expands more broadly to the entire blockchain ecosystem

Yat Siu said: “I expect memecoin to launch its own L1 or L2. They are no longer just tokens, they are building communities and ecosystems, Memecoins are essentially cultural symbols. They are capturing people’s attention and building narratives that resonate with people beyond financial speculation. ”

▌Ripple partners with Chainlink to drive adoption of stablecoin RLUSD

Ripple and Chainlink have cooperated with the aim of furtherFurther expanding the scope and utility of the Ripple USD (RLUSD) stablecoin in decentralized finance (DeFi).

▌Avalanche Foundation provides grant to VIA Labs for the development of cross-chain protocol Proto-USD

The Avalanche Foundation announces that VIA Labs has received a grant through the InfraBUIDL() program. VIA Labs is using the funds to develop the Avalanche ecological cross-chain protocol Proto-USD.

According to reports, Proto-USD simplifies cross-chain liquidity, enabling USDC to be easily transferred between Avalanche L1 and other networks, aiming to improve the Avalanche ecosystem. Accessibility, scalability, and overall connectivity.

▌Solana urges validators to test early version "Firedancer" upgrade

Solana is stepping up testing Firedancer, this software upgrade promises to significantly increase blockchain processing speeds. According to messages in the Solana Technology Discord server, the Solana core development team hopes to have the “vast majority” of processing power in the on-chain low-risk test network running Frankendancer, an early version of Firedancer, by the end of the week. The call to action for Solana validators marks Firedancer’s biggest test yet. This upgrade has been in the works since the chain experienced frequent outages in 2022, and is seen as enhancing Solana’s stability and speed.

On Tuesday, the Solana Foundation used this subsidy reward and punishment mechanism for the first time to directly promote the adoption of Frankendancer. Validators have only a few days to switch their testnet systems to the new client or lose their delegated rights.

▌Fidelity Digital Asset Analyst: BTC has been included in multiple strategic reserves or will significantly boost the encryption market in 2025

Fidelity Digital Asset analysts predict that the inclusion of BTC in multiple strategic reserves may significantly boost the cryptocurrency market in 2025. They believe that inspired by the success of El Salvador and Bhutan, countries may secretly begin to accumulate digital assets to hedge against inflation and currency devaluation.

▌CryptoQuant Research Director: Bitcoin’s correction has caused traders’ unrealized profits to shrink significantly, but the market adjustment is healthy

Julio Moreno, director of research at CryptoQuant, posted on the million dollars. Analysis shows that this kind of pullback is normal after a sharp rise and is conducive to the healthy development of the market. Currently, traders are seeing realized prices (which typically form price support in bull markets) of around $88,000, while Bitcoin is trading at around $93,000.

▌Billionaire Mark Cuba: If the economy collapses, he would rather hold Bitcoin than gold

Billionaire Mark Cuba says he would rather own Bitcoin than gold if the economy goes into trouble. Mark Cuba said, "I think Bitcoin is more valuable."

▌Blast will launch mobile platform and token economics updates later this month< /p>

Ethereum Layer 2 network Blast announced on the Dapps should ensure that points and coins are distributed to users prior to these changes. There will be no gold distribution in January. All users should also ensure to log into the Blast website with their own wallets. The official launch date will be announced soon. ” style="text-align: left;">▌Polymarket users are betting that Biden is more likely to pardon SBF than Silk Road founder Ross Ubricht

U.S. President Joe Biden is scheduled to attend the event on January 20 He still has time to issue pardons and commutations to individuals convicted of federal crimes. As of January 9, cryptocurrency betting platform Polymarket was offering users 4% odds on President Biden pardoning former FTX CEO Sam “SBF” Bankman-Fried, and 2% odds on him pardoning former FTX CEO Sam “SBF” Bankman-FriedRoss Ulbricht, founder of Free Silk Road. As of the time of publication, users have bet more than $5 million on SBF odds and $1.2 million on Ulbricht odds.

It is unclear whether President Biden plans to issue more pardons or commutations before the end of his term.

▌Many encryption company CEOs are currently striving for opportunities to have contact with Trump himself

With less than two weeks to go until Trump’s inauguration, crypto industry executives are vying for access to Trump himself and a seat on a planned cryptocurrency advisory committee that is expected to be formed soon after Trump takes office . According to people familiar with the matter, industry insiders intend to use this committee to influence new digital assets, which may be composed of about two dozen CEOs and founders.

Most potential appointees have developed relationships with Trump and have visited him in recent months, people familiar with the matter said. Trump and his inner circle, including incoming White House artificial intelligence and cryptocurrency expert David Sacks, are still weighing potential appointees. Since Trump was re-elected in November, Mar-a-Lago has hosted a large number of people in the crypto industry, including Crypto.com CEO Kris Marszalek, Coinbase CEO Brian Armstrong and others. In addition, Circle, Coinbase, Kraken, Ondo and other companies have pledged to donate to Trump’s inauguration.

Previously, the encryption industry will hold a ball to celebrate the inauguration of Trump and Vance on January 17, hosted by BTC Inc. and Stand With Crypto , hosted by BTC Inc. and Stand With Crypto.

▌Analyst: The correlation between Bitcoin and U.S. stocks appears again

Bitwise European research director Andre Dragosch said that Bitcoin and the S&P 500 began to diverge following the election of Donald Trump, but the two asset classes have recently begun to move more in tandem. Bitcoin and the S&P 500 have once again begun to correlate closely, with their correlation reaching 0.88 at the latest 20-day moving average (0 indicating no correlation, 1represents absolute correlation).

Dragosch concluded: “While on-chain factors are likely to provide significant impetus until at least mid-2025, a deterioration in the macro situation may also give Bitcoin poses short-term risks, especially given that its correlation with the S&P 500 remains relatively high ”

▌CME. Group executive: ETH’s performance will surpass BTC this year

Payal Shah, director of stock and cryptocurrency research and product development at CME Group, wrote that ETH’s performance this year will surpass BTC.

The article stated that Ethereum has risen by about 53% in 2024, while Bitcoin has risen by 113%; however, Ethereum’s recent performance shows good prospects. Ethereum has gained 39% since the U.S. election results were announced, outpacing Bitcoin's 35% gain and signaling a potential recovery fueled by market optimism over President-elect Donald Trump's expected pro-cryptocurrency Additionally, other key factors driving this optimism include strong staking activity, stable transaction fees, and growing institutional interest, especially through ETFs.

▌Fed's mouthpiece: Meeting minutes indicate officials are generally unwilling to cut interest rates this month

"Federal Reserve Speaker" Nick Timiraos pointed out that the Federal Reserve meeting minutes further showed that officials are generally willing to keep interest rates unchanged at the upcoming meeting at the end of this month. "Participants indicated that the Committee was at or near an appropriate level to slow the pace of easing," the minutes said. Officials believed that based on their current outlook for economic activity, the Fed was likely to continue to move at a slower pace than in recent months. Cut interest rates.

▌Federal Reserve meeting minutes: The unemployment rate is expected to rise slightly

Federal Reserve meeting in December The minutes noted that staff predicted that U.S. economic conditions would remain solid. Real GDP growth is expected to moderate slightly from the previous baseline forecast, and the unemployment rate is expected to rise slightly but remain close to staff estimates of the natural rate of unemployment. In the staff's baseline forecast, inflation forecasts for 2024 are slightly higher than forecasts made at the last meeting, reflecting an upside surprise from some recent data, with inflation expected to rise through 2027.will fall to 2%, in line with the forecast for the November meeting.

The probability that the Federal Reserve will keep interest rates unchanged in January is 93.1%

According to CME" "Fed Watch" shows that the probability of the Fed keeping interest rates unchanged in January is 93.1%, and the probability of cutting interest rates by 25 basis points is 6.9%. The probability of keeping current interest rates unchanged by March is 57.7%, the probability of a cumulative 25 basis point interest rate cut is 39.7%, and the probability of a cumulative 50 basis point interest rate cut is 2.6%.

The U.S. dollar index rose 0.08% on the 9th

Measuring the strength of the U.S. dollar against six major currencies The U.S. dollar index rose 0.08% that day and closed at 109.180 in late foreign exchange trading. As of late trading in New York, 1 euro was worth $1.0299, down from $1.0309 on the previous trading day; 1 pound was worth $1.2309, down from $1.2357 on the previous day. 1 U.S. dollar was exchanged for 158.11 Japanese yen, lower than 158.46 yen on the previous trading day; 1 U.S. dollar was exchanged for 0.9126 Swiss francs, higher than 0.9117 Swiss francs on the previous trading day; 1 U.S. dollar was exchanged for 1.4392 Canadian dollars, higher than the previous trading day 1.4389 Canadian dollars; 1 U.S. dollar exchanged for 11.1530 Swedish kronor, down from 11.1612 Swedish kronor in the previous trading day.