LianGuai Morning News | BTC Breaks $40,000 US Lieutenant Urges Defense Department to Adopt Bitcoin as Hedging Strategy

LianGuai Morning News | BTC Rises Above $40,000; US Lieutenant Calls for Defense Department to Consider Bitcoin as Risk Management Strategy

Headline

▌BTC Breaks $40,000, First Time Since April 2022

The current market shows BTC breaking $40,000 for the first time since April 2022, currently at $40,013. It has seen a 1.37% increase within the day, with significant market fluctuations. Please exercise caution and manage your risks.

▌US Space Force Major Urges Department of Defense to Adopt Bitcoin as “Offset Strategy”

In a letter to the US Department of Defense (DoD) Innovation Board, US Space Force Major Jason Lowery emphasizes the national strategic importance of Bitcoin. Lowery believes that Bitcoin and its underlying PoW technology can serve as a contemporary tool for “offset strategy,” potentially reshaping the landscape of cyber warfare and defense. He urges the government to further research their potential applications.

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• Bitcoin: The Savior of Western Civilization?

Jason Lowery describes Bitcoin as a groundbreaking “macrochip,” which transforms the global power grid into a massive resource-intensive computer. He believes this innovative approach introduces physical costs into the digital realm and provides a new method to protect significant amounts of data on the internet.

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Market

As of the time of writing, according to coinmarketcap data:

BTC recent trading price is $40,014, with a daily change of +0.66%;

ETH recent trading price is $2,194.89, with a daily change of +1.59%;

BNB recent trading price is $228.3, with a daily change of +0.57%;

XRP recent trading price is $0.623, with a daily change of +0.24%;

DOGE recent trading price is $0.0855, with a daily change of +1.82%;

ADA recent trading price is $0.395, with a daily change of +1.10%;

SOL recent trading price is $62.98, with no daily change.

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Policy

▌Hong Kong Investment Commission: Invest in Virtual Assets through Licensed Trading Platforms

The Hong Kong Investor and Financial Education Council published an article titled “Virtual Asset Trading Platform Scams – How Do Fraudsters Trick You?” It points out that some companies claim to hold overseas virtual asset licenses, which are difficult to verify whether they are real or fake, or they pretend to be genuine companies. These are common tactics used by fraudsters. If investors intend to buy or sell virtual assets, they should use licensed trading platforms regulated by the Securities and Futures Commission (SFC) to safeguard their rights. They can refer to the SFC’s “List of Licensed Virtual Asset Trading Platforms” and the police’s “Anti-Scam TV” to identify suspicious companies or platforms. These resources provide a list of officially licensed virtual asset trading platform names and relevant information published by the SFC.

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Blockchain Applications

▌Solana Engineer Launches White Hat Detection and Anti-MEV Attack Tool

Solana engineer Jac0xb.sol announced the launch of the Lighthouse Solana project, a personal project aimed at addressing common issues such as Miner Extractable Value (MEV) attacks, sandwich attacks, and enabling white hat detection for Solana programs. Lighthouse provides support for developers by enabling judgment on account balances and account statuses. This ensures transactions adhere to pre-defined conditions and provides use cases such as protecting signer assets and maintaining transaction integrity.

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Cryptocurrencies

▌Over $107 Million Liquidated in the Past 24 Hours

According to coinglass data, a total of 51,702 people were liquidated in the past 24 hours, with a total liquidation amount of $107 million. The largest single liquidation occurred on Huobi-BTC-USDT, valued at $1.0495 million. Additionally, in the past 24 hours, there were $28.47 million in liquidated BTC, $12.75 million in liquidated ETH, and $8 million in liquidated ORDI.

▌Data: Blast Network TVL Breaks $700 Million

According to DeBank data, the Blast contract address of the Layer 2 network launched by Blur founder LianGuaicman currently holds assets worth a total of $711 million. Among them, $623 million worth of ETHs are deposited into the Lido protocol, and $88.06 million worth of DAIs are deposited into the Maker protocol.

▌Kraken CLO: Binance Settlement Will Pave the Way for a New Era of Cryptocurrencies

Kraken Chief Legal Officer (CLO) Marco Santori stated in an interview with CNBC that Binance’s settlement will pave the way for a new era of cryptocurrencies. He said, “I believe that the industry, ecosystem, regulatory bodies, and policymakers are ready to continue moving the Binance settlement forward, and that’s what the settlement is about. They laid the groundwork for moving towards better goals.”

The US Securities and Exchange Commission (SEC) announced last month that it was suing Kraken, alleging that it operates as an unregistered securities exchange, broker, dealer, and clearing organization. Santori stated that Kraken is closely monitoring the Fit21 bill that regulates cryptocurrency exchanges.

▌Bitcoin Miners’ Revenue Reaches New Annual High of $1.16 Billion in November

Bitcoin miners’ revenue reached $1.16 billion in November, setting a new high for the year. This number exceeded the peak reached in May 2023, when the total revenue was $919.22 million, including $125.92 million in fees.

In addition, the number of Bitcoin transactions processed in November slightly increased compared to May, with 16.42 million transactions in November, slightly higher than the 16.3 million transactions in May.

▌Galaxy Research Director: $42,000 and $46,000 are the Next Resistance Levels for BTC

Galaxy Research Director Alex Thorn stated on the X platform that Bitcoin is currently accumulating in large quantities, with bulls buying from bears at $40,000. My guess is that BTC will rise when the bears are exhausted, and I see $42,000 and $46,000 as the next resistance levels.

▌Bitcoin’s Year-to-Date Gain is 142%

On Monday morning Beijing time, Bitcoin for the first time since April 2022 flirted with $40,000. As of Monday 6:35 AM, the token’s trading price was $40,099, bringing its year-to-date gain to 142%.

▌Franklin Templeton President: Holding BTC, ETH, SUSHI, and UNI – Blockchain will change financial transactions

In an interview, Franklin Templeton President and CEO Jenny Johnson stated that she personally holds some cryptocurrencies, such as Ethereum, Bitcoin, SushiSwap, and Uniswap, although they make up a small percentage of her overall investment portfolio.

Johnson acknowledges the high demand for Bitcoin ETFs and the potential of blockchain to change financial transactions. She explains how blockchain reduces costs and operational difficulties, making it easier to divide previously hard-to-process asset ownership. This technological advancement opens up new asset classes and provides unique opportunities for Franklin Templeton’s clients.

Looking ahead, Johnson expects Franklin Templeton to expand its blockchain and crypto-related products to adapt to the ever-evolving financial industry.

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Important Economic Developments

▌China International Capital Corporation (CICC): The Fed may not cut rates early, market pricing may be too ahead

CICC research report suggests that last week’s surge in US asset prices was driven, in part, by Federal Reserve Board Governor Walle discussing the conditions for rate cuts, prompting market pricing for an early cut. However, there is uncertainty about a significant slowdown in inflation. Over the past year, a greater part of the US inflation slowdown has come from supply recovery, but it is unclear if these factors will have the same strong downward effect on subsequent inflation as they did last year. If the marginal strength of supply recovery weakens, then, given the same demand, inflation resilience will be stronger. Overall, we believe the Fed may not cut rates early, and market pricing may be too ahead. However, Walle’s speech conveyed a signal that the Fed is not intending to excessively suppress the economy and hopes to guide a soft landing, which is favorable for boosting short-term risk appetite. (Jin Shi Data APP)

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LianGuai Encyclopedia

▌What is an NFT DApp?

A blockchain-based application that integrates non-fungible tokens is called an NFT DApp. Through such applications, users can create, buy, sell, and trade original digital products such as artwork, collectibles, and in-game items. NFT DApps support game players, artists, and content creators by utilizing the transparency and security of blockchain technology to transform ownership. The importance of NFT DApps lies in providing decentralized markets, facilitating peer-to-peer transactions, introducing innovative forms of ownership, disrupting existing industries, and democratizing the global digital economy.

Disclaimer: LianGuai, as a blockchain information platform, publishes content for informational purposes only and should not be considered as actual investment advice. Please establish a correct investment philosophy and always raise your awareness of risks.

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