Preview of this week's news | Usual Protocol plans to activate the revenue switch function in advance; the United States will release December CPI data; the HECO network will be offline
Reprinted from chaincatcher
01/13/2025·1MOrganized by: Fairy, ChainCatcher
Highlights:
- FDIC Chairman Martin Gruenberg to resign effective January 19
- After USD 0++ is unanchored, Usual Protocol plans to activate the revenue switch function in advance on January 13 to stabilize its ecosystem.
- Shiba Inu ecological token TREAT will be launched on January 14th
- The United States will release December CPI data at 21:30 on January 15
- The Senate nomination hearing for Scott Bessent to serve as U.S. Treasury Secretary is expected to be held on January 16
- The HECO network will be offline on January 15, 2025, and some HRC20 assets will be retired
January 13 (Monday)
[Coinbase will not support Celo blockchain migration, and users need to
withdraw CGLD from Coinbase before January 13th](https://www.chaincatcher.com/article/2154157)
Coinbase Assets posted on the X platform that the Celo L1 blockchain (Coinbase code: CGLD) will be migrated to Celo L2 on January 16, 2025. Coinbase will not support the migration, and customers must withdraw CGLD from Coinbase before January 13, 2025, in case the funds become unavailable. After the hard fork is executed, the Celo L1 network will stop generating blocks, customers will no longer be able to send or receive assets on the Celo L1 network, and all funds remaining on Coinbase will be unavailable.
[After USD 0++ is unanchored, Usual Protocol plans to activate the
revenue switch function in advance on January 13 to stabilize its ecosystem.](https://www.chaincatcher.com/article/2161968)
RWA stablecoin issuer Usual announced on the
It is reported that the "Revenue Switch" function is planned to be launched on January 13, allowing Usual Protocol to share its revenue from real-world assets and protocol operations with the community. The team expects monthly revenue of approximately $5 million, with an annual return of over 50% under current conditions. These distributions will be made on a weekly basis to solidify USUAL's real value and balance its economic model with the revenue generated by the protocol. (Usual’s revenue switch function will be officially activated when more than 50% of USUAL tokens are pledged as USUAL x. If the requirements are not met, it will be automatically activated on February 1, 2025. Once enabled, 100% of the revenue ( Up to $5 million per month) will flow to USUALx stakers in the form of USD0).
In addition, the Usual Protocol team also stated that it will launch the "1:1 early unstaking" function next week, allowing users to redeem USD0++ at an exchange rate of 1 USD, but requiring them to give up part of their accumulated rewards as a penalty.
January 14 (Tuesday)
[The South Korean court will hold the first debate on Yoon Seok-yue's
impeachment trial on January 14](https://www.chaincatcher.com/article/2160504)
South Korea's Constitutional Court stated that it will hold the first debate on Yoon Seok-yue's impeachment trial on January 14.
[Shiba Inu ecological token TREAT will be launched on January
Shiba Inu ecological token TREAT will be launched on January 14th. Shytoshi Kusama, the main developer of Shiba Inu, believes that the token is a key tool to achieve complete decentralization of the Shiba Inu ecosystem.
According to reports, the TREAT token is the “utility and governance token” of its new privacy-focused Layer 3 blockchain, designed to unlock advanced features of the network state operating system. More information about the asset will be announced soon. Kusama's annual schedule shows that it will talk about TREAT on Tuesday's weekly podcast. Developers are expected to discuss the token’s value and how it fits into the larger Shiba Inu ecosystem.
[**Encode urges court to block OpenAI’s transition to for-profit entity,
hearing to be held on January 14**](https://x.com/marionawfal/status/1876164218530988364?s=46&t=ZUN3JJTgrEwNx2vnqNNE5g)
Mario Nawfal, founder and CEO of IBC Group, said at the Humanity may be exposed to the existential risks posed by artificial intelligence for the sake of investor returns. Experts including Nobel laureate Geoffrey Hinton and artificial intelligence pioneer Stuart Russell supported the motion, arguing that turning into a for-profit institution would undermine safeguards designed to ensure that advanced artificial intelligence is consistent with public safety.
Encode President Sneha Revanur said: "OpenAI's non-profit mission is more than a promise - it is a lifeline for humanity. Turning it into a profit machine puts everyone at risk."
A court hearing in the case is scheduled for January 14.
[Decentralized AI platform Nodepay: The first airdrop will be held on
January 14](https://x.com/nodepay_ai/status/1878373232820224387)
The decentralized AI training and development platform Nodepa posted on the
According to previous news, Nodepay has launched the final query for airdrops, and users can query the token distribution for seasons 0, 1 and 2.
[**Renzo launches BNSOL re-pledge token bzSOL, minting will start on
January 14**](https://www.chaincatcher.com/article/2161745)
Renzo Protocol announces the launch of bzSOL (re-pledged Binance Staked SOL) token. Users can exclusively cast bzSOL within 24 hours starting at 8:30 a.m. ET on January 14, and support casting using SOL or BNSOL.
bzSOL will first provide security services for Jito Tip Router, and users can receive additional staking rewards with automatic compound interest. bzSOL has liquidity advantages, and holders can trade at any time and obtain additional income in the DeFi protocol. The project is currently promoting more DeFi ecological integration.
January 15 (Wednesday)
[The United States will release December CPI data at 21:30 on January
15](https://rili.jin10.com/day/2025-01-15)
At 21:30 Beijing time on January 15 (Wednesday), the United States will release December CPI data, which may have a subversive impact on expectations of interest rate cuts in the future.
[The HECO network will be offline on January 15, 2025, and some HRC20
assets will be retired](https://www.chaincatcher.com/article/2154255)
The HECO network will be offline on January 15, 2025, and some HRC20 assets will be liquidated , namely HRC20ETH, HRC20TUSD, HRC20LINK, HRC20USDC, HRC20UNI, HRC20SHIB, HRC20HBTC and HRC20USDT.
HRC20 assets will be converted into points, and the points earned will be bound to the wallet address in the user's HECO account. It is planned to complete all points redemption and accounting before January 10, 2025, and convert the confirmed points into HTX.
**[Derive (formerly Lyra) announces launch of DRV token on January 15,
2025](https://www.chaincatcher.com/article/2155176)**
According to official news, the on-chain options protocol Derive (formerly known as Lyra) announced that it will launch the DRV token on January 15, 2025.
Ethena Labs officially stated that 5% of the DRV token supply will be allocated to sENA token stakers.
**[South Korean cryptocurrency-themed movie"Crypto Man" will be
released](https://www.chaincatcher.com/article/2156252)**
The cryptocurrency-themed movie "Crypto Man" directed by South Korean director Hyun Hae-ri will be released on January 15, 2025. The film is adapted from a real-life cryptocurrency crash that caused losses of over 50 trillion won (approximately US$34.9 billion), and stars the late actor Song Jae-rim.
The film tells the story of the protagonist Yang Do-hyun (played by Song Jae-rim), who after experiencing many entrepreneurial failures, successfully issued the cryptocurrency MOMMY with his friends, but later encountered regulatory scrutiny.
It is reported that the film has undergone strict legal consultation and will use black humor to show the living conditions of young Koreans who "trade stocks during the day and trade cryptocurrencies at night." According to Upbit data, as of the end of 2023, there were 3,759 cryptocurrency multi-millionaires in South Korea, with investors in their 20s holding an average of US$3.65 million in digital assets.
[The U.S. court requires the SEC v. Ripple litigation brief to be
submitted before January 15](https://www.chaincatcher.com/article/2149812)
Former U.S. federal prosecutor James K. Filan disclosed the latest developments in the U.S. SEC v. Ripple case on the X platform. The Second Circuit Court of Appeals has issued an order requiring the SEC's litigation brief to be submitted before January 15, 2025. If no briefs are filed before that date, the appeal will be dismissed as of January 15, 2025. Motions to extend the filing of pleadings or seek other relief will not count toward the filing date.
January 16 (Thursday)
[The Senate nomination hearing for Scott Bessent to serve as U.S.
Treasury Secretary is expected to be held on January 16](https://flash.jin10.com/detail/20250110025659754800)
The Senate nomination hearing for Scott Bessent as U.S. Treasury Secretary is expected to be held on January 16.
[OKX will launch DuckChain (DUCK) spot
trading](https://www.chaincatcher.com/article/2161322)
According to the official announcement, OKX will launch DuckChain (DUCK) spot trading.
- DUCK deposit opening time: 2:00 pm on January 10, 2025 (UTC+8);
- DUCK call auction time period: 5:00 to 6:00 pm on January 16, 2025 (UTC+8);
- DUCK/USDT spot trading opening time: 6:00 pm on January 16, 2025 (UTC+8);
- DUCK withdrawal time is: 10:00 pm on January 16, 2025 (UTC+8).
[Coinbase International Station will launch AERO, BEAM, and DRIFT
perpetual contracts](https://www.chaincatcher.com/article/2161690)
According to official news, Coinbase International Station and Coinbase Advanced will add support for Aerodrome Finance, Beam and Drift perpetual contracts, and the AERO-PERP, BEAM-PERP and DRIFT-PERP markets will be launched at 9:30 am on January 16, 2025 ( UTC time) or later.
January 17 (Friday)
[U.S. Commodity Futures Trading Commission (CFTC) Enforcement Director
Ian McGinley announced that he will leave his post on January 17](https://www.chaincatcher.com/article/2161915)
Ian McGinley, director of enforcement at the U.S. Commodity Futures Trading Commission (CFTC), announced that he will leave his post on January 17. He joined the agency in February 2023 and has led enforcement actions against companies such as Binance, KuCoin, Falcon Labs, and others. In a statement announcing his departure on January 17, Ian McGinley said that “establishing the CFTC as the premier enforcement agency for digital asset enforcement” was listed as a top priority during his tenure.
Trump's transition team has reportedly zeroed in on a long list of potential CFTC leaders but hasn't moved as quickly as it did when he was at the top of the Securities and Exchange Commission. However, if cryptocurrency legislation progresses in 2025, the CFTC may replace the SEC as the dominant agency regulating the U.S. digital asset market.
January 18 (Saturday)
[The Philippine Securities and Exchange Commission issues a request for
comments on encryption and will accept public feedback until January 18](https://www.sec.gov.ph/notices/request-for-comments-on-the-exposure-draft-of-the-proposed-sec-rules-for-crypto-asset-service-providers/#gsc.tab=0)
The Philippine Securities and Exchange Commission (SEC) released a draft of proposed SEC rules for crypto-asset service providers and will accept public feedback until January 18, 2025. The opinion draft includes provisions on the definition of crypto-asset service providers, licensing requirements, operating standards, risk management, customer fund protection and disclosure requirements. Crypto-asset issuance must be disclosed to the public at least 30 days before marketing activities or public sales. SEC disclosure documents filed.
January 19 (Sunday)
[FDIC Chairman Martin Gruenberg to resign effective January
19](https://www.chaincatcher.com/article/2152837)
Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg has announced that he will resign on January 19, the day before Trump takes office. Gruenberg, a Democrat, confirmed his departure in a message to FDIC staff and said he had informed outgoing President Joe Biden of his decision.
The Federal Deposit Insurance Corporation (FDIC) is responsible for maintaining the stability of the U.S. financial system and public confidence by insuring deposits, examining and supervising financial institutions for consumer protection, and managing failed banks.
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