Headlines
BTC breaks through 100,000 USDT mark
OKX market data shows that BTC exceeded 100,000 USDT at around 10:00 on December 5, and is currently trading at 99,932 USDT, with a 24-hour increase of 4.43%.
MicroStrategy has netted shareholders about 119,800 BTC so far this year
MicroStrategy founder Michael Saylor wrote that since the beginning of the year, MicroStrategys financial operations have achieved a 63.3% Bitcoin return, bringing shareholders a net income of approximately 119,800 Bitcoins. At $103,000 per Bitcoin, this is equivalent to $12.3 billion in annual revenue to date, making MicroStrategy the most profitable and fastest growing company using the Bitcoin standard.
Data: Institutional funds have purchased about 3% of the total supply of Bitcoin in 2024
According to Geoff Kendrick, head of global digital asset research at Standard Chartered Bank, institutional funds purchased approximately 3% of the total supply of Bitcoin in 2024. Speaking of Bitcoin breaking through $100,000, Geoff Kendrick said: In the final analysis, its just a number. But the reality is that Bitcoin has been able to reach this level because the industry, especially this year, has become institutionalized - this is mainly due to the inflow of funds from ETFs.
According to Yuxians monitoring, the EVM (ETH/BSC/BASE) addresses of the DEXX hackers continued to change, and a lot of funds (including a lot of MEME) were continuously collected to 0x ffb 9926310 b 291 e 17 d 7 df 846 cded 66 cda 2c 68228 from almost 7 am. Later, Yuxian posted a message saying : Some ETH started to be mixed into Tornado Cash in the early morning, which is almost the final signal (the DEXX perpetrators do not intend to turn back and choose to go down a cruel dark road to the end).
Industry News
OpenAI launches full blood version reasoning model o 1 and ChatGPT Pro
OpenAI founder Sam Altman said that todays release is the full blood version of the inference model o1 and ChatGPT Pro (monthly subscription fee of $200). According to reports, o1 is the smartest model in the world. It is smarter, faster, and has more functions (such as multimodality) than o1-preview. It is now available in ChatGPT and will be launched in the API soon. The newly launched ChatGPT Pro will be able to take full advantage of the model and tools, including unlimited access to OpenAI o1 and a Pro-only version of o1.
Financial Times apologizes to readers for negative coverage of cryptocurrencies
The Financial Times publicly apologized to its readers for its negative coverage of cryptocurrencies over the past 14 years. The media said in a statement: With the price of Bitcoin recently breaking through $100,000, quite a number of commentators felt that we should apologize to our readers for our long-standing cynicism. Therefore, we deeply apologize that over the past 14 years, you may have decided not to buy items that subsequently rose in price based on our coverage. The price increase is of course gratifying. At the same time, if you misunderstood our cynicism about cryptocurrencies as support for traditional finance, we are deeply sorry, because we hate this behavior too.
Uniswap Labs recently announced the launch of its new blockchain, Unichain, and Uniswap has long been a key driver of activity on the Ethereum mainnet. As Uniswap transitions to its own chain, validators on the Ethereum network could lose an estimated $400-500 million in annual revenue. But more serious than the economic loss is that this threatens Ethereums fundamental narrative as a deflationary currency. Uniswaps universal router is the number one account consuming gas fees, accounting for 14.5% of Ethereum gas fees, equivalent to destroying $1.6 billion worth of Ethereum. This means that the effectiveness of the destruction mechanism will be weakened, further weakening Ethereums economic position.
US spot Bitcoin ETF achieved approximately four-fold growth in just 227 trading days
According to data disclosed by Trader T on the X platform, BlackRock IBIT grew from 0 to 53,000,000,000 USD in just 11 months, and the US spot Bitcoin ETF achieved approximately four times growth in just 227 trading days.
According to official news, Semler Scientific, a US-listed company, announced that it has spent $29.3 million to increase its holdings of 303 BTC, with an average price of $96,779. As of December 4, 2024, Semler Scientific holds a total of 1,873 bitcoins. In response, MicroStrategy founder Michael Saylor wrote that Semler Scientific is a company above the Bitcoin Standard.
Anthony Rousseau, product manager for brokerage solutions at TradeStation, said one of the key factors for more companies to include Bitcoin on their balance sheets is for more traditional financial institutions, such as Morgan Stanley, to enter the field and for banks to take over the custody of cryptocurrencies. Industry insiders also hope to see changes in accounting guidelines from the U.S. Securities and Exchange Commission (SEC), which requires public companies, including banks, to treat cryptocurrencies they custody as liabilities on their balance sheets. Under this guideline, banks must set aside assets of considerable value to prevent losses and meet capital requirements.
Project News
Base networks daily transaction volume reached 8.8 million, setting a new record
According to data from The Block, the Base networks daily transaction volume reached 8.8 million, setting a new record high. Bases total locked value (TVL) was $3.6 billion, and the net inflow in the past seven days was $227 million, exceeding Solanas $71 million in the same period. On November 28, Base network fees reached a three-month high of $766,000.
Lido: wstETH is now live on Starknet
Lido announced on the X platform that wstETH is now live on Starknet. Users can now bridge their wstETH tokens to Starknet and access the networks DeFi ecosystem while benefiting from L2s lower gas costs and faster transaction speeds.
Circle Partners with Payment Infrastructure Pockyt to Support USDC Merchant Transactions
According to official news, Circle announced a partnership with payment infrastructure Pockyt to support USDC merchant-side payment transactions. This partnership will redefine the possibilities for businesses by incorporating stablecoin payment processing into Pockyts ecosystem, providing merchants with a secure, efficient and cost-effective solution for cross-border commerce using USDC. In addition to integrating USDC, Pockyt will also use Circles programmable wallet to connect the traditional Web2 financial system with the decentralized functions of Web3, enabling thousands of merchants and more than 1 million Pockyt users to seamlessly transition between Web2 and Web3.
Bitdeer: 150 BTC mined in November
Nasdaq-listed Bitdeer released unaudited mining and operations update data for November 2024, which disclosed that its self-mining output in November was 150 BTC, and the number of client-hosted machines increased by 11,000.
Core Scientific: 314 BTC mined in November
Nasdaq-listed Bitcoin mining company Core Scientific has released its unaudited production and operations update for November 2024, which disclosed that its mining output in November was 314 BTC. As of the end of the month, it operated approximately 172,000 Bitcoin mining machines in data centers for self-mining and hosting, with a total computing power of 20.3 EH/s.
Nasdaq-listed Worksport plans to invest part of its cash reserves in BTC and XRP
Worksport, a small Nasdaq-listed company, is investing part of its cash reserves in Bitcoin and XRP. The company announced that it will allocate 10% of its cash reserves (up to $5 million) to cryptocurrencies, but this ratio may change in the future. Worksport CEO Steven Rossi said in an interview that he has personally invested in XRP for some time and firmly believes in decentralization.
Bitcoin mining company BitFuFu: Currently holds 1,664 BTC
Bitcoin mining company BitFuFu announced that the company currently holds 1,664 BTC. Leo Lu, chairman and CEO of BitFuFu, said: We have been refining our BTC funding strategy and have a dedicated team to manage our BTC assets. Our ability to dynamically transfer available hash rate between self-mining and cloud mining provides BitFuFu with the flexibility to benefit from bull markets and reduce revenue volatility during bear markets.
Aethir, a decentralized cloud infrastructure provider, said in a statement that the number of AI companies developing AI agent variants for different industries is growing exponentially, and Aethir has the necessary decentralized infrastructure to adapt to this growth. For example, Aethir recently launched a $100 million ecosystem fund, which aims to support AI builders in launching innovative projects such as AI agents in various industries. Aethir has announced two rounds of projects funded by its ecosystem fund. The first round of projects includes: Creator.Bid, Moemate, Capx AI, FOMO and Top Hat AI; the second round of funded projects includes: BitGPT, Humans.ai, Church of The Overseer, ARC Agents and OPUS.
Investment and Financing
Blockchain platform Haven 1 announced the completion of a $4.6 million private placement financing, with participation from Animoca Brands and KuCoin Ventures. The new funds will be used to enhance Haven 1’s blockchain infrastructure, with the goal of improving decentralized finance and tokenized real-world assets.
Decentralized protocol Prosper announced the completion of a strategic round of financing, with Metalpha, Waterdrip Capital, BIT Mining and Satoshi Protocol participating. The specific amount has not been disclosed. Prosper aims to tokenize institutional-grade Bitcoin hash rate into full-chain RWA to unleash the potential of Bitcoin.
Earlier news, Animoca Brands announced that it would increase its holdings of Prosper tokens PROS through the open market.
According to a post by SolanaFloor on the X platform, Sol Strategies, a Canadian holding company focused on investing in the Solana ecosystem, has applied to be listed on the Nasdaq. It is reported that Sol Strategies currently holds $30 million worth of SOL.
Story-based AI startup Sekai completes $3.1 million seed round led by Hashed
Generative AI storytelling startup Sekai announced the completion of a $3.1 million seed round of financing, led by Hashed. According to reports, Sekai aims to use the Story protocol to turn storytelling into a multi-person experience, allowing aspiring storytellers to use its platform to co-create with others with the help of generative AI. At the same time, Sekai hopes to provide creators with the ability to protect the intellectual property of their creations and profit from them.
Nvidia plans to acquire AI medical technology company Vinbrain
Nvidia CEO Jensen Huang said that Nvidia will acquire Vinbrain, an AI medical technology company of Vingroup. VinBrain is a medical artificial intelligence (AI) technology company invested by Vietnams Vingroup Group, focusing on improving medical diagnosis and hospital data management through AI technology.
Crypto VC Dattice is raising money for its third fund
Lattice, which has been investing in cryptocurrencies since 2021, is raising money for its third fund, according to documents filed with the U.S. Securities and Exchange Commission on Monday. The document did not specify the size of the fund.
It is reported that in 2022, the venture capital firm specializing in investing in early-stage cryptocurrency startups raised a $60 million fund, three times its first round of capital.
According to PitchBook data, the company has invested in 81 projects. Two of its most prominent investments are Immunefi, a cryptocurrency bug bounty platform, and Protocol Labs, the core developer of the decentralized cloud storage network Filecoin.
Bitcoin Ecosystem DeFi Service Torram Receives Strategic Support from Blockchain Founders Fund
Torram, a DeFi service in the Bitcoin ecosystem, announced that it has received strategic support from Blockchain Founders Fund. The specific amount has not been disclosed yet. Torram plans to accelerate the realization of institutional-level DeFi and real-world asset tokenization on Bitcoin through secure on-chain data indexing and decentralized oracle networks, enabling financial institutions to use Bitcoin infrastructure to improve liquidity.
Regulatory trends
Florida, USA, is expected to launch a strategic Bitcoin reserve in the first quarter of 2025
According to The Street, Florida is expected to launch a strategic Bitcoin reserve in the first quarter of 2025. Samuel Armes, chairman of the Florida Blockchain Business Association (FBBA), said that Florida is likely to establish a strategic Bitcoin reserve during the upcoming legislative session (which will begin in the first quarter of 2025). It is reported that the plan is based on Floridas existing investment in Bitcoin and crypto-related assets, which are made through its $185.7 billion pension fund, the fourth largest pension fund in the United States. Armes said: Florida has invested in Bitcoin and crypto-related assets through our pension fund. He suggested allocating 1% of Floridas $185.7 billion pension fund, or $1.857 billion.
Wells Fargo: Futures markets are pricing in a 25 basis point rate cut by the Fed
Sarah House, managing director and senior economist at Wells Fargo, and Aubrey Woessner, an economic analyst, said that the US November CPI may show that the progress of anti-inflation is stagnating. The unadjusted CPI annual rate is expected to rise from 2.6% to 2.7%. They believe that the unadjusted core CPI annual rate will remain in a narrow range of 3.2%-3.3% for the sixth consecutive month. Although some inflationary factors such as the overheated labor market continue to fade, new resistance to the decline in inflation has emerged, including the possibility of tariffs and tax cuts. The US November CPI report is scheduled to be released next Wednesday, a week earlier than the Federal Reserves interest rate decision. The futures market is currently digesting the Feds decision to cut interest rates by 25 basis points.
Putin may include cryptocurrencies as a possible settlement method in BRICS investment platform
Russian President Vladimir Putin sees cryptocurrencies as a possible settlement method for the BRICS investment platform. Putin said that work on the platform has already begun and crypto assets may have a place among the settlement tools of the investment platform. The BRICS group is relentlessly pursuing a de-dollarized financial system. At the Russia Calls forum held by VTB Bank, one of Russias largest financial institutions, Putin mentioned crypto assets and acknowledged that experts predict that global growth will benefit from the use of these assets and their related infrastructure in the financial sector.
Character Voice
Chris Burniske, partner of Placeholder, wrote on the X platform: “People won’t like me saying this, but if $10 trillion is the goal of this round, then we may not be able to achieve it in this cycle. For example, $100,000 and $10,000 calls for $BTC and $ETH were everywhere in 2021. At that time, our upper limits were about $70,000 and about $5,000, respectively, and $BTC has only reached that goal now. This is the lesson.”
CryptoQuant analysts say long-term Bitcoin holders (LTH) are starting to take profits after BTC broke through the $100,000 mark. CryptoQuant data shows a significant increase in the Long-term Holder Spent Output Profit ratio (LTH-SOPR), which measures the profit level of long-term Bitcoin investors by comparing the selling price of Bitcoin to the price they originally paid. Julio Moreno, head of research at CryptoQuant, said: As the price of Bitcoin rises above $100,000, long-term holders (LTH) have been taking profits, as shown by the rise in LTH SOPR to 4, which indicates that the tokens sold by long-term holders have realized a profit of four times their original purchase price. However, this is a normal phenomenon during the Bitcoin bull market, and profit-taking is still far from extreme levels.
Former U.S. Treasury Secretary Lawrence Summers dismissed the idea of the government setting up a Bitcoin asset reserve, calling it too crazy and just catering to special interest campaign donors. Trump proposed during his campaign that the government retain the token, and his allies also wanted to expand the scale to reduce the national debt and appoint a cryptocurrency supporter as chairman of the SEC. Summers also said Musks plan to cut $2 trillion in spending would be extremely difficult to achieve politically.
Solana co-founder Anatoly Yakovenko said the rise of memecoin has stress-tested the Solana network, making it more resilient and turning past disruptions into opportunities for innovation. He said: Just like NFTs... we are lucky to be able to solve a whole bunch of engineering problems with memecoin, and it will only make the network and all systems more robust. As for the popularity of memecoin on Solana, Yakovenko said he was surprised at first, but less surprised in retrospect. He said: In almost all digital economies, entertainment is the biggest area of money making... When I started thinking about it, it was almost obvious in retrospect.
Bitget Research: Bitcoins next potential resistance level is $150,000 or even $200,000
Ryan Lee, chief analyst at Bitget Research, said Bitcoin reaching $100,000 marks a key milestone, highlighting its growing popularity and perceived value. Analysts are now turning their attention to the next potential resistance level, targeting $150,000 or even $200,000, and the markets cautious reaction suggests there may still be room for growth.
Tether CEO: Bitcoin buying and ETF inflows led to an increase in USDT market value
Tether CEO Paolo Ardoino attributed the rise in USDT market value to a large influx of funds into spot Bitcoin ETFs and a Bitcoin buying spree led by Michael Saylor. Ardoino revealed that Tethers market value has increased by about $16 billion in the past 20 days alone, partly due to a large influx of funds into spot Bitcoin ETFs, and many people began to buy Bitcoin at a very fast pace, especially after the US election.
Robinhood CFO: Looking for more MA activity
According to Robinhood Chief Financial Officer (CFO) Jason Warnick, the company is looking for more MA activities. Robinhood is currently completing two new acquisitions: one is TradePMR, a wealth management platform for registered investment advisors, which it acquired for $300 million; the other is the acquisition of Bitstamp Ltd. for $200 million, a global cryptocurrency exchange founded in 2011 with offices in Luxembourg, the United Kingdom, Slovenia, Singapore and the United States.
Murad: It took 10 years for Bitcoin to break through $100,000, and the next goal is $200,000
Meme ecosystem KOL Murad posted on the X platform, Bitcoin price broke through $100,000. We have waited 10 years for this day. The next goal is $200,000.
Based on his accompanying picture, Murad speculated that Bitcoin is expected to break through $200,000 in 2026.
Mysten Labs co-founder: Blockchain transaction speed is expected to exceed Visa in the future
In a conversation with The Block CEO Larry Cermak, Mysten Labs co-founder Kostas Chalkias mentioned that he believes artificial intelligence will enhance smart wallets, which can improve accessibility for cryptocurrency newcomers and the parallelization of blockchain with other payment platforms. He bluntly said: Eventually, blockchain transactions will be faster than even Visa.
Binance CEO: Bitcoin is on the brink of true mainstream global adoption
Richard Teng, CEO of Binance, said: “Nearly 16 years after the first block was mined in 2009, Bitcoin has reached the $100,000 per coin milestone, with a total market capitalization of $2.1 trillion. This also puts Bitcoin firmly among the only seven assets or companies with a market capitalization of more than $2 trillion, the others being gold and tech giants Nvidia, Apple, Microsoft, Alphabet, and Amazon. With discussions about the US strategic Bitcoin reserve and more companies adding it to their corporate coffers, Bitcoin is on the verge of true mainstream global adoption.”
CoinGecko co-founder: $100,000 marks Bitcoin’s mainstream acceptance
Bobby Ong, co-founder of CoinGecko, said: Bitcoins milestone of $100,000 marks an important moment for the cryptocurrency market, reflecting its growing maturity and mainstream acceptance. The psychological barrier of $100,000 has also attracted new investors and boosted market sentiment. This rise proves Bitcoins position as a leading financial innovation, solidifying its reputation as a digital store of value and a hedge against uncertainty in the traditional economy. It also emphasizes the growing recognition of cryptocurrency as a legitimate asset class.
Economist: BTC is no longer an ordinary asset, it is proving to be part of the financial sector
Over time its proving itself to be a part of the financial landscape, more of a store of value than an asset class, said Shane Oliver, chief economist and head of investment strategy at AMP.
