Emmer named vice chairman of digital assets division, SEC sues Musk
Reprinted from jinse
01/15/2025·23days agoheadlines
▌U.S . Congressman Tom Emmer was appointed vice chairman of the Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence
Forbes reporter Eleanor Terrett posted on He also nominated other Republican members of the committee.
▌The SEC sued Musk: He failed to disclose as required that he spent $150 million less on buying Twitter stock
The SEC filed a lawsuit in federal court in Washington, D.C. on Tuesday against Musk for alleged securities violations. The SEC said Musk purchased more than 9% of Twitter common stock in March 2022 but failed to promptly disclose relevant information. , in violation of federal securities laws. After an 11-day delay, Musk publicly disclosed his beneficial ownership in a report submitted to the SEC on April 4, 2022. The delay allowed Musk to continue buying Twitter stock at artificially low prices, spending at least $150 million less. On April 4, 2022, Twitter's stock price rose by more than 27% from the previous day's closing price. Musk's lawyer responded that Musk had done nothing wrong and that the lawsuit was "a farce." (Golden Ten)
Quotes
As of press time, according to Coingecko data:
BTC’s recent transaction price was US$96,548.53, with an intraday increase or decrease of +2.3 % ;
ETH’s recent transaction price was US$3,223.56, with an intraday increase or decrease of +2.9 % ;
BNB’s recent transaction price was US$699.67, with an intraday increase or decrease of +1.7 % ;
SOL’s recent transaction price was US$187.52, with an intraday increase or decrease of +2.8 % ;
DOGE’s recent transaction price was 0.3556 yuan, with an intraday increase or decrease of +5.6% ;
XPR’s recent transaction price was $2.66, with an intraday increase or decrease of +5.7% .
policy
▌The U.S. SEC postpones the decision on Bitwise BITW’s application to convert into an ETF until July
According to a public regulatory document, the U.S. SEC postponed its decision on the application to convert Bitwise 10 Crypto Index Fund (BITW) into an ETF until late July. This means that whether Bitwise ETF can be approved will still have to wait longer. In addition, Bloomberg ETF analyst James Seyffart pointed out that Grayscale’s next GDLC deadline is February 2. Delays are also expected.
▌U.S . SEC Chairman: The outcome of the 2024 presidential election does not depend on the funding of crypto interest groups
In an interview with CNBC Squawk Box host Andrew Ross Sorkin, U.S. SEC Chairman Gary Gensler said that he believes that funds from cryptocurrency voters and digital asset interest groups are unlikely to affect the outcome of the 2024 U.S. election, making President-elect Donald Trump Trump wins.
"I think that although, as you pointed out, this election raised money from the cryptocurrency space, I don't think that's what this election was about, this space, the cryptocurrency space, is a highly speculative one," he said. "
▌U.S . SEC Chairman: The SEC has never said that Bitcoin and Ethereum are securities
Outgoing U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler told Yahoo Finance on Tuesday that the commission “never said” Bitcoin and Ethereum were securities, adding that he and the SEC’s previous chairman Jay Clayton never said that Bitcoin is a security.
Blockchain application
▌Hashed CEO: Artificial intelligence has a “black box” problem
Simon Kim, CEO of crypto venture capital fund Hashed, said in an interview that he believes the future of artificial intelligence depends on a fundamental change: breaking the black box of centralized models such as OpenAI and building a decentralized and transparent blockchain-driven ecosystem.
He said: "AI is being centralized. OpenAI is not open and is controlled by a very small number of people, so it is very dangerous. Making this [closed source] base model is like making a 'god', but we don't know it is How it works." Kim believes that open source AI models like Meta's Llama are an example of AI being built with decentralization and transparency in mind.
cryptocurrency
▌U.S . SEC Chairman: Bitcoin is like gold, 7 billion people around the world want to trade it
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said in an interview, “Bitcoin is a highly speculative asset, but 7 billion people around the world want to trade it. Just like we have owned gold for 10,000 years, we now With Bitcoin.”
In terms of regulatory stance, Gensler pointed out that the SEC has never classified Bitcoin as a security. As with thousands of other crypto projects, he emphasized the need to prove their actual use cases and fundamental value. When the host quipped, "You must hold Bitcoin," Gensler said he had never held any cryptocurrency in the past 7-8 years. The host then joked, "You can hold it now because you are about to step down as chairman of the SEC."
▌Standard Chartered Bank: If Bitcoin falls below the $90,000 support level, it will face a 10% retracement risk
Geoff Kendrick, global head of digital asset research at Standard Chartered Bank, warned that a downward trend could occur if Bitcoin “falls below $90,000.”
Kendrick highlighted in a report on Tuesday that there is "convexity risk" due to the increased likelihood of spot ETF liquidations, which could push Bitcoin prices below $80,000 in the near term.
Kendrick said: “We believe that Bitcoin falling below $90,000 will result in a further 10% decline in the short term to just over $80,000. Prices of all other digital assets will likely follow suit, and once the pullback is over, we recommend again Accumulate long positions.”
▌The Trump family project WLFI exchanged 103.15 WBTC for 3,075.19 ETH at an average price of $3,226
According to Onchain Lens monitoring, the Trump family project WLFI sold 103.15 WBTC worth US$9.92 million in exchange for 3,075.19 ETH at an average price of US$3,226. The project also sent 18,535.82 ETH worth $59.72 million to multiple wallets and Coinbase Prime. It also purchased 17,619 WBTC for $96,495, worth $1.7 million.
▌ ARK Invest: Bitcoin’s relative volatility is low and it is expected to rise further in 2025
ARK Invest said in its "Bitcoin Monthly" report that while Bitcoin's volatility spiked at the end of the fourth quarter, it was "not significant in historical context." Bitcoin’s monthly volatility in December was relatively mild compared to annual volatility. The lower relative volatility means that Bitcoin has not yet entered the feverish stage of its cycle, which means that further gains are likely, especially in a bull market.
"Indeed, these data points suggest there is room for further market gains in 2025," ARK's report said.
▌ ETF Store President: More than 50 crypto ETFs may be approved this year
Nate Geraci, president of the ETF Store, said 2025 could become “the year of the cryptocurrency ETF.” He predicted that more than 50 cryptocurrency ETFs will be approved under the new chairman’s leadership, including spot Solana and XRP funds, as well as options-based and stock-based products.
▌Analysis : Trump’s inauguration may no longer be a “sell after good news” event for Bitcoin
According to K33 analysis, after Trump was elected, the price of Bitcoin rose sharply in anticipation of his policy to support cryptocurrency, but since mid-December, the market has faced macroeconomic pressure, causing the market to cool down. Although Trump's inauguration was previously expected to be a "sell on good news" event, analysts pointed out that as the inauguration date approaches, the gap between the market's policy expectations for Trump and the actual political process has made this strategy change. No longer attractive. Trump's trade rhetoric could bring inflationary pressures, but tax breaks and favorable crypto policies are expected to drive risk assets higher. Despite the short-term Bitcoin price volatility, K33 is optimistic about Trump’s long- term impact.
Important economic developments
▌The probability that the Fed will keep interest rates unchanged in January is 97.3%
According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in January is 97.3%, and the probability of cutting interest rates by 25 basis points is 2.7%. The probability of keeping current interest rates unchanged by March is 79.8%, the probability of a cumulative 25 basis point interest rate cut is 19.7%, and the probability of a cumulative 50 basis point interest rate cut is 0.5%.
▌The U.S. dollar index fell 0.61% on the 14th
The U.S. dollar index, which measures the U.S. dollar against six major currencies, fell 0.61% on the day and closed at 109.280 in late foreign exchange trading. As of late trading in New York, 1 euro was worth $1.0298, up from $1.0208 on the previous trading day; 1 pound was worth $1.2200, up from $1.2167 on the previous day. 1 U.S. dollar was exchanged for 157.94 Japanese yen, higher than 157.81 yen on the previous trading day; 1 U.S. dollar was exchanged for 0.9127 Swiss francs, lower than 0.9191 Swiss francs on the previous trading day; 1 U.S. dollar was exchanged for 1.4365 Canadian dollars, lower than the previous trading day 1.4412 Canadian dollars; 1 U.S. dollar exchanged for 11.1796 Swedish kronor, down from 11.2895 Swedish kronor in the previous trading day.
▌The three major U.S. stock indexes had mixed gains and losses, with most large technology stocks falling.
The three major U.S. stock indexes ended mixed, with the Nasdaq falling 0.23%, the S&P 500 rising 0.11%, and the Dow rising 0.52%. Most large technology stocks fell, with Tesla, Nvidia, and Netflix falling more than 1%. Meta fell more than 2%, and the company planned to lay off 5% of low-performing employees.
Golden Encyclopedia
▌What is a teardrop attack in encryption?
In the cryptocurrency environment, teardrop attacks often target the decentralized nature of blockchain platforms. Even if they don’t target the blockchain’s cryptographic algorithms, disrupting the underlying peer-to-peer network infrastructure that cryptocurrencies rely on could lead to service disruptions, loss of funds, and loss of user trust. An attacker can interfere with the consensus process, transaction validation, or node-to-node communication by focusing on specific nodes or servers. This can lead to network fragmentation, processing delays or even complete outages.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
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