Daily Report | Trump has secured enough electoral votes to officially win the presidency; Bitwise launches Solana staking ETP in Europe; Binance Alph

Organizer: Luan Peng, ChainCatcher

Important News:

• Coinbase delists wBTC due to "unacceptable risks" posed by Justin Sun
• Incoming Senate Banking Committee Chair promises a cryptocurrency branch
• Trump has secured enough electoral votes to officially win the presidency
• Bitwise launches Solana staking ETP in Europe
• Lawyer: Local police determined in August that a VPN-based trading activity was illegal, profits were confiscated
• Mining company CleanSpark completes $650 million convertible preferred notes issuance
• NYSE-listed Cango spends $256 million to purchase Bitmain mining machines
• He Yi: Most meme coins go to zero, Binance will place hundreds of hot projects in Binance Alpha observation zone

"What important events happened in the past 24 hours"

Coinbase delists wBTC due to "unacceptable risks" posed by Justin Sun

According to CoinDesk, Coinbase stated that it decided to delist wBTC due to the "unacceptable risks" posed by Justin Sun. Last week, the issuer of wBTC, BiT Global, filed a broad lawsuit accusing Coinbase of improperly favoring its competitor cbBTC.

In a 25-page response, Coinbase indicated that this decision is related to Justin Sun, who has also been accused of fraud and market manipulation in the U.S. According to Coinbase's documents, Justin Sun is linked to wBTC through a partnership announced in August. Coinbase stated, "Given Justin Sun's involvement, Coinbase, like many other companies in the industry, has serious doubts about whether BiT can be a reliable manager."

Incoming Senate Banking Committee Chair promises a cryptocurrency branch

Tim Scott, the incoming Republican chair of the U.S. Senate Banking Committee, spoke at the Blockchain Association policy summit, stating, "In my view, cryptocurrency is the next miracle of the world."

Tim Scott promised that his committee would have a cryptocurrency branch and would serve as the first chair of a newly created digital assets subcommittee.

Tim Scott indicated that both chambers of Congress and the elected government of President Donald Trump would work in the same direction to push for legislation, with two starting points being the "Financial Innovation and Technology for the 21st Century Act" (FIT21), which aims to establish comprehensive crypto market safeguards and passed the House this year with significant bipartisan support, and a stablecoin bill that is close to bipartisan agreement but has stalled due to some sticking points regarding federal and state government roles.

Trump has secured enough electoral votes to officially win the presidency

President-elect Trump has secured enough electoral votes in the Electoral College meetings across states to officially win the presidency. The Electoral College meeting is a key step in the U.S. presidential election system, requiring a candidate to obtain 270 out of 538 electoral votes to be elected.

Final tallies show that Trump won 312 electoral votes. Next, the results of the electoral votes from each state will be sent to Congress. Members of Congress will officially count the electoral votes during a joint session on January 6 and announce Trump and Vance as the next president and vice president, respectively. Trump and Vance will be sworn in on January 20, 2025.

Bitwise launches Solana staking ETP in Europe

Crypto asset management firm Bitwise has launched a Solana staking ETP in Europe, with the code BSOL. Solana staking company Marinade will serve as Bitwise's staking provider. BSOL will charge investors an annual fee of 0.85%.

Lawyer: Local police determined in August that a VPN-based trading activity was illegal, profits were confiscated

According to a disclosure from lawyer Wu Enxiang, in August this year, local police determined that trading with a VPN was illegal, and the involved parties were administratively punished, with trading profits confiscated.

Local police discovered that a man used a VPN to illegally connect to the internet through unauthorized channels, contacted overseas clients needing to purchase a certain virtual currency through an overseas website, and then bought the virtual currency at a low price on an overseas trading app before selling it at a high price. After being summoned by the police, the man came in for an investigation. He illegally profited 90,000 yuan during the operation of his studio.

The administrative penalty decision stated that the man's actions constituted unauthorized use of illegal channels for international internet access. According to Article 6 and Article 14 of the "Interim Regulations on the Administration of International Networking of Computer Information Networks of the People's Republic of China" and Article 11, Paragraph 1 of the "Public Security Administration Punishment Law of the People's Republic of China," it was decided to order the violator Zhang San to cease networking, issue a warning, impose a fine of 15,000 yuan, confiscate illegal gains of 90,000 yuan, and seize eight mobile phones and eight computers used in the crime.

Mining company CleanSpark completes $650 million convertible preferred notes issuance

Bitcoin mining company CleanSpark announced that it has completed a $650 million convertible preferred notes issuance. Additionally, the company repurchased 11.76 million shares of common stock for approximately $145 million, which will be removed from the company's total outstanding shares.

According to CleanSpark's CEO and President Zach Bradford, part of the funds is intended to support adding mined Bitcoin to the balance sheet.

NYSE-listed Cango spends $256 million to purchase Bitmain mining machines

NYSE-listed automotive dealership platform Cango announced that it has spent $256 million to purchase Bitcoin mining machines with a hash rate of 32 EH/s from Bitmain.

Additionally, Cango has agreed to acquire additional rack-mounted Bitcoin mining machines with a total hash rate of 18 EH/s through the issuance of $144 million in common stock from Golden TechGen (a company owned by Bitmain's former CFO Max Hua) and other entities.

Earlier this month, Cango reported that it produced 363.9 BTC with a deployed hash rate of 32 EH/s in November, without liquidating any assets. This production made Cango the fifth-largest publicly listed Bitcoin mining company by realized hash rate and the third-largest by deployed hash rate.

He Yi: Most meme coins go to zero, Binance will place hundreds of hot projects in Binance Alpha observation zone

Binance co-founder He Yi stated in X Spaces, "A few memes will survive, but most will go to zero. Whether it's VC coins or memes, we have a list of hundreds of hot projects, but some projects have issues with their token economic models, and some platform data may be inflated. For these projects, we have also heard rumors of some insider trading during ongoing observations.

Therefore, we will place these hot projects in the Binance Alpha (observation zone). Projects entering the observation zone do not guarantee listing on Binance. A project can only generate income and profits when it is beneficial to society, and only then might it share profits with users."

Arthur Hayes: Market expected to crash around January 20, Maelstrom will reduce positions in advance

BitMEX co-founder Arthur Hayes published an article titled "Trump Truth," stating that while he does not believe the U.S. government will buy Bitcoin, this does not affect his optimistic outlook on its price prospects. Ultimately, the devaluation of gold will create dollars, which must find a place in real goods/services and financial assets. From experience, due to the limited supply of Bitcoin and the decreasing amount in circulation, the fiat price of Bitcoin is rising faster than the global dollar supply growth.

At the end of his article, he stated that before entering the collapse phase of a bull market, the cryptocurrency market is expected to experience a painful crash around Trump's inauguration on January 20, 2025. Maelstrom (Arthur Hayes's fund) will reduce certain positions in advance and hopes to buy back at lower prices sometime in the first half of 2025.

Arthur Hayes added, "If the market forcefully breaks out around January 20, we will also acknowledge our misjudgment and will re-enter after licking our wounds."

Former South Korean Democratic Party lawmaker sentenced to 6 months for concealing cryptocurrency assets

Former South Korean Democratic Party lawmaker Kim Nam-guk was sentenced to 6 months in prison for allegedly concealing his cryptocurrency holdings and falsely reporting assets in his 2021 and 2022 National Assembly asset declarations. He appeared for his first public trial at the Southern Seoul Court today. The former lawmaker is accused of adjusting his total asset amount by transferring part of his cryptocurrency deposits to a bank account and converting the remaining portion into cryptocurrency, obstructing the National Assembly Ethics Committee's review of asset changes. The court decided to impose a 6-month prison sentence. The case is still under further investigation.

Binance will airdrop 135 million PENGU tokens to early buyers to compensate for data delays during spot listing

Binance announced that due to delays in updating token information for Pudgy Penguins (PENGU) by data provider CoinMarketCap, the project's market capitalization and fully diluted valuation (FDV) data were not updated in time during its spot listing on Binance.

As a gesture of goodwill, Binance has reserved 135,000,000 PENGU tokens, which will be allocated to eligible users who purchased PENGU between 2024-12-17 14:00 (UTC) and 2024-12-17 14:37 (UTC). The airdrop allocation will be credited to eligible users' accounts within 72 hours.

ECB Governing Council member Wunsch: Not very interested in holding Bitcoin reserves

According to Jinshi reports, ECB Governing Council member Wunsch stated that he is not very interested in holding Bitcoin reserves.

Binance will delist AKRO, BLZ, WRX on December 25

According to the official announcement, Binance will delist and cease all trading pairs for AKRO, BLZ, and WRX at 03:00 (UTC) on December 25, 2024. The specific trading pairs to be delisted include AKRO/USDT, BLZ/BTC, BLZ/USDT, and WRX/USDT. All related trading orders will be automatically removed after trading stops. After 03:00 (UTC) on December 26, 2024, deposits for these tokens will no longer be credited to accounts. After 03:00 (UTC) on February 25, 2025, Binance will no longer support withdrawals of these tokens.

Binance will add 1000CAT/USDC and PENGU/USDC spot trading pairs

According to the official announcement, Binance will launch 1000CAT/USDC and PENGU/USDC spot trading pairs at 16:00 (UTC+8) on December 19, 2024.

Additionally, Binance will open trading bot services for the following trading pairs at 16:00 (UTC+8) on December 19, 2024, namely spot algorithm orders: 1000CAT/USDC and PENGU/USDC.

USUAL opens airdrop claim, will launch on Binance spot at 19:00

According to the official announcement, USUAL has opened airdrop claims. Binance has ended pre-trading for USUAL and will open spot trading for the following currency pairs at 19:00 on December 18, 2024: USUAL/BTC, USUAL/USDT, USUAL/FDUSD, and USUAL/TRY.

Binance Alpha announces first batch of projects: KOMA, Cheems, APX, ai16z, and AIXBT

According to official news, Binance Alpha has announced its first batch of projects: KOMA, Cheems, APX, ai16z, and AIXBT.

"What are the exciting articles worth reading in the past 24 hours"

Extending from a16z crypto's "2025 Crypto Predictions": What top projects should we focus on next year?

The end of the year is one of my favorite times because top thinkers in the Web3 industry begin to share their high confidence ideas and predictions for 2025. It is an exciting moment to outline the potential of the crypto industry for the coming year. Earlier this month, a16z crypto released a list of big ideas for 2025. Which protocols have already established themselves in these key areas? Let's explore this in the new publication.

This time, I want to focus on the article published by a16z crypto: " A16Z Outlook on 2025 Crypto Trends ."

Roam Growth is about to launch, leading DePIN project Roam accelerates the landing of decentralized telecom data network ecosystem

As a hot emerging narrative for 2024, every move in the DePIN field is closely watched. In this race, Roam leads the market with excellent data, becoming a top DePIN project. As of December 15, 2024, Roam has surpassed one million self-built nodes globally, with user registrations exceeding 1.72 million, and the number of global hardware nodes ranks first on DePINScan.

Roam's technological advantage is one of the key factors for its leading position in the field. It employs advanced OpenRoaming™ technology and is the only Web3 IDP project among the 15 corporate alliances in the Wireless Broadband Alliance (WBA) OpenRoaming™ program (alongside industry giants), supporting over 4 million OpenRoaming™ available WiFi hotspots in more than 190 countries worldwide.

The data above also proves the feasibility of large-scale adoption of Web3 applications in areas closely related to users' daily lives, and Roam's free business model in the decentralized wireless network field has undoubtedly been proven successful.

In October of this year, Roam announced plans to build a global Telecom Data Layer, while launching Roam eSIM to quickly accumulate a large number of users for the ecosystem in a cost-effective, secure, and convenient manner, laying a solid foundation for Roam's Telecom Data Layer ecosystem.

Now, as one of the four major modules of Roam Telecom Data Layer, Roam Growth is about to launch, marking the arrival of a new era of continuous income generation for network participants.

In simple terms, Roam's DePIN yields are coming.

In-depth analysis of Memecoin: A product of mockery, with a market cap in the billions

How to reduce the risk of shitcoins when choosing Memecoins?

"Full text of the draft for 'U.S. Strategic Bitcoin Reserves': Managing BTC as a permanent national asset

On December 17, 2024, the Bitcoin Policy Institute drafted an executive order proposing the establishment of strategic Bitcoin reserves under the U.S. Treasury's Exchange Stabilization Fund (ESF) during the Trump administration, which requires signing after Trump's inauguration to take effect.

Note: The Bitcoin Policy Institute is a non-partisan non-profit organization dedicated to researching the policy and social impacts of Bitcoin and emerging currency networks.

NFT Data Special: Pudgy Penguins account for over 50% of Ethereum NFT trading volume, Mad Lads floor price exceeds 60 SOL

Expectations for PENGU, ANIME, and Opensea token airdrops drive the total NFT market cap close to $11 billion.

Meme Popularity Rankings

According to meme token tracking and analysis platform GMGN , as of December 18, 19:30:

The top five popular Ethereum tokens in the past 24 hours are: PEPU, PATRIOT, KIRBY, ISLAND, QF

The top five popular Solana tokens in the past 24 hours are: PENGU, Penguin, SHIKOKU, MOONX, UFD

The top five popular Base tokens in the past 24 hours are: VIRTUAL, BirdDog, MOODENG, CATOF, BANDIT