South Korea approves Yoon Seok-yue’s detention, new era for U.S. cryptocurrency has just begun

Reprinted from jinse

01/19/2025·7days ago

headlines

▌The South Korean court approved the detention order for Yin Xiyue

In the early morning of the 19th local time, the Western District Court in Seoul, South Korea issued a detention order for President Yoon Seok-yue. Yoon Seok-yue became the first president in South Korea's constitutional history to be detained and investigated as a sitting president. The Seoul Western District Court pointed out that "the suspect is suspected of destroying evidence" and therefore issued a detention order for him. His detention can last up to 20 days.

▌White House cryptocurrency director-designate: A new era of U.S. cryptocurrency innovation has just begun

According to news on January 18, David Sacks, the White House AI and Cryptocurrency Director appointed by Trump, said that the reign of terror against cryptocurrencies is over and a new era of cryptocurrency innovation in the United States has just begun.

Quotes

As of press time, according to Coingecko data:

BTC’s recent transaction price was US$104,413, with an intraday increase or decrease of +0.1 % ;

ETH’s recent transaction price was US$3,345.10, with an intraday increase or decrease of -3.4 % ;

BNB’s recent transaction price was US$712.18, with an intraday increase or decrease of +0.8 % ;

SOL’s recent transaction price was US$254.72, with an intraday increase or decrease of +16.2 % ;

The recent transaction price of DOGE was 0.401 yuan, with an intraday increase or decrease of -6.1% ;

XPR’s recent transaction price was $3.24, with an intraday increase or decrease of -3.6% .

policy

▌Texas senator plans to challenge IRS over crypto tax rules

According to News.bitcoin, Republican Senator Ted Cruz from Texas plans to use the Congressional Review Act (CRA) next week to challenge a tax regulation that infringes on the rights of cryptocurrency brokers. The move was seen not just as a procedural tactic but as a principled stance against the expansion of government power into free enterprise and technological innovation. The regulation drew heavy criticism from the cryptocurrency industry, which decried it as arbitrarily expanding the scope of the term “broker.” This overreach misrepresents the decentralized nature of these platforms, stifles the spirit of innovation, and punishes those who dare to challenge traditional systems. In December, three advocacy groups filed a lawsuit against the regulation, exposing its heavy compliance burden.

▌Massachusetts introduces two bills regarding Bitcoin Strategic Reserve

Cointelegraph published an article stating that Massachusetts has introduced two more bills regarding Bitcoin strategic reserves.

Blockchain application

▌Shanghai : Build high-quality data infrastructure such as blockchain and corpus to create universal cross-chain functions

According to news on January 18, the General Office of the Shanghai Municipal People's Government issued the "Shanghai Implementation Plan to Promote the High-Quality Development of Digital Trade and Service Trade", which proposed the layout of high-performance computing infrastructure. Build high-energy cloud computing data center clusters, open computing power platforms and computing power interconnection platforms. Build high-quality data infrastructure such as blockchain and corpora, build urban blockchain infrastructure, create a blockchain-as-a-service (BaaS) platform and universal cross-chain functions, facilitate the trusted cross-border flow of data, and promote high-quality corpus data Element construction.

▌ Perplexity AI filed to merge with TikTok’s U.S. business

According to Bloomberg, Perplexity AI, a technology company backed by Bezos and Nvidia, filed to merge with TikTok’s U.S. operations to avoid the upcoming shutdown. TikTok's Chinese parent company ByteDance was ordered by the United States to sell off or shut down by Sunday. The deal will allow ByteDance's investors, including heavyweights such as Sequoia Capital and SoftBank, to retain their stakes.

cryptocurrency

▌ Vitalik: The Ethereum Foundation is making major changes in its leadership structure

Vitalik posted on social media that the Ethereum Foundation (hereinafter referred to as EF) is undergoing major changes in its leadership structure and has been going on for about a year. Some of these reforms have already been implemented and made public, while others are still ongoing. Current goals that EF will strive to achieve include: · Increasing the level of technical expertise among leadership; · Improving two-way communication and connections between leadership and ecosystem participants (old and new) EF’s role is to support users (individuals and institutions ), developers, wallets, L2; · Introducing new talents to improve execution capabilities and speed; · More actively support application builders and ensure that important values and inalienable rights (especially privacy, open source, censorship resistance) exist for users (including the application layer); · Continue to increase support for decentralization and privacy technologies and uses of the Ethereum chain, including for payments and money management

▌ Jupiter’s total transaction volume exceeds US$2 trillion

Dune data shows that the total transaction volume of Jupiter, the Solana ecological DEX aggregator, exceeds US$2 trillion and currently stands at US$2,077.4 billion. According to DeFiLlama data, Jupiter TVL exceeded US$2.8 billion and is currently at US$2.829 billion, a record high.

▌El Salvador’s current Bitcoin holdings exceed 6,000 BTC

Mempool data shows that El Salvador currently holds 6,032.183 BTC, which is approximately US$628 million.

▌BlackRock currently holds approximately 559,500 Bitcoins

BlackRock officially updated the position information of spot Bitcoin ETF. As of January 16, BlackRock IBIT held 559,564.44 Bitcoins, which has exceeded the total supply of Bitcoin by 2%. The market value of its holdings exceeds US$56.22 billion.

Important economic developments

▌ Morgan Stanley China Chief Xing Ziqiang: Policy effects helped China’s economy exceed expectations in the fourth quarter of last year, and it is expected to continue to increase this year

After the release of China's GDP data, Morgan Stanley China Chief Economist Xing Ziqiang said that this shows that a series of incremental policy adjustments since late September last year have achieved results, and the economic performance in the fourth quarter of last year was better than market expectations. Talking about the reasons, Xing Ziqiang pointed out that on the one hand, the trade-in subsidy policy for consumer goods has been effective, and the sales of home appliances and cars performed well in October and November 2024. On the other hand, exports have performed strongly since September last year. He said that economic indicators in the fourth quarter of last year were better than expected, but continued policy efforts are needed to achieve success over time. "At present, it seems that policies will be gradually increased in 2025." In Xing Ziqiang's view, more powerful policy measures may be introduced in the future. Specifically, the first is to increase the fiscal deficit; the second is to focus more on consumption and social security, not just the construction and investment ends in the traditional sense; the third is to promptly use the central government's balance sheet or the central bank's initiative Deal with risks promptly.

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.