1. Cryptocurrency supporter Atkins is a popular candidate for the SEC chair.
According to informed sources, the transition team of the newly elected president Trump has conducted talks with senior financial regulatory figures, behind-the-scenes conservative financial figure Paul Atkins, as a candidate for the U.S. Securities and Exchange Commission (SEC) chair. Sources say Atkins is the top contender to replace the outgoing Gensler. They stated that Trump is expected to make a selection in the coming days and has yet to make any decisions. Atkins served as an SEC commissioner during the George W. Bush administration, and later founded Patomak Global Partners, a company providing consulting services to major clients in the financial industry. He is a staunch supporter of digital assets and fintech companies. He has also testified before Congress discussing how to restructure the agency's operations and reduce what some industry insiders consider redundant or overly burdensome regulatory requirements.
2. Options data shows a 50% chance of bitcoin reaching 0.1 million dollars by the end of the year.
According to Cointelegraph, on-chain data shows that nearly half of bitcoin options traders are betting that prices will exceed six figures by the end of 2024. Despite the recent price pullback to 0.09 million dollars, some traders are still targeting a high of 0.15 million dollars. Nick Forster, founder of the on-chain options DeFi options protocol, stated in a market report on November 26, "Interestingly, the chance of bitcoin breaking through 0.1 million dollars has risen from 34% last week to 45%, and there is also a new probability for it to break 0.15 million dollars, at 4%." Forster further explained that the immense demand for bitcoin options (especially call options) "indicates a strong market demand for both upward potential and downside protection." According to Derive data, 41.3% of trading contracts are call options while 38.3% are put options, betting that bitcoin will fall, and "sellers are very few." Data also shows that by the end of 2024, there is a 68% chance that bitcoin will rise to 81,493 dollars or up to 115,579 dollars. Meanwhile, the chance of bitcoin falling below 70,000 dollars to 68,429 dollars or rising to 137,645 dollars is only 5%.
3. Nominations for Trump's new government cabinet have been completed, with more than five being "crypto traders."
On November 23 local time, USA President-elect Trump announced the nomination of bruker corp Rollins as the Secretary of Agriculture. With this, all cabinet minister candidates for Trump's new government have been confirmed. Additionally, over the past few weeks, Trump has also nominated several high-level officials. Looking at the new government's list, apart from well-known names in the crypto market like Musk and Howard Lutnick, many cabinet officials are staunch supporters of cryptos and have publicly disclosed their hold positions, including the nominated Vice President, Secretary of the Treasury, Secretary of Commerce, Secretary of Health and Human Services, and Director of National Intelligence.
4. U.S. Treasury report: Low-income families are using crypto gains to apply for mortgage loans to buy homes.
According to Cointelegraph, based on a report from economists at the U.S. Treasury, an increasing number of low-income families are using profits from cryptocurrency investments to apply for mortgage loans to buy homes. The report pointed out that in areas with higher adoption rates of cryptocurrency, the proportion of mortgages among low-income families has increased by more than 250%, and the average mortgage balance has risen from about 0.172 million dollars in 2020 to about 0.443 million dollars in 2024, a growth of 150%. Data from the New York Federal Reserve Bank shows that debts such as mortgages, auto loans, credit cards, and student loans have increased, leading to a new high of 17.9 trillion dollars in total household debt in the USA in the third quarter.
As of November, the trading volume of stablecoins has surged to 1.8 trillion US dollars.
According to Cointelegraph, based on a report from CCData on November 27, as of November 25, the trading volume of stablecoins has increased sharply by 77.5% this month, reaching 1.81 trillion US dollars. This growth is likely to set a new annual high for monthly trading volume on centralized exchanges. The total market cap of stablecoins has continued its upward trend for 14 months, growing by 9.94% in November to reach 190 billion US dollars, surpassing the historical high of 188 billion US dollars before the collapse of Terra's algorithmic stablecoin TerraUSD in April 2022. Despite the growth, the market share of stablecoins has fallen from 7.22% in October to 5.54% as investors and traders have diversified into bitcoin and altcoins. USDT continues to show strong performance, with its market cap increasing by 10.5% to reach 133 billion US dollars. USDT accounts for 69.9% of the overall market, followed by Circle's USDC, whose market cap grew by 12.1% in November to reach 38.9 billion US dollars, the highest level since February 2023. Ethena Labs' USDe also showed growth momentum, with its market cap increasing by 42.2% to reach 3.86 billion US dollars.
The Mayor of Vancouver plans to launch a "Bitcoin-Friendly City" initiative.
According to Cointelegraph, Vancouver Mayor Ken Sim announced that the city plans to include bitcoin on its balance sheet as part of a diversification investment initiative. At the Vancouver City Council meeting on November 26, Sim submitted a notice of motion that he intends to propose on December 11, titled "Maintaining the City's Purchasing Power Through Financial Resource Diversification: Building a Bitcoin-Friendly City." As of November 27, it seems that the motion has not yet been published on the city government's website.
UK FCA: Currently, 12% of adults in the United Kingdom own cryptocurrency.
According to Decrypt, the UK's Financial Conduct Authority (FCA) has released a new research report showing that currently, 12% of adults in the United Kingdom own cryptocurrency, up from the previous survey result of 10%. Based on a nationally representative study of 2,199 UK adults, it is estimated that the number of cryptocurrency holders in the UK will increase from 5 million in 2022 to 7 million. In the same period, the average value of cryptocurrency held by UK residents rose from £1,595 to £1,842. Among cryptocurrency holders, the number of adults holding larger amounts of cryptocurrency has also increased—currently, 19% hold cryptocurrencies worth £5,001 to £10,000, compared to 6% during the 'last wave.' A spokesperson for the cryptocurrency trade association CryptoUK stated that this finding is a "watershed moment for the industry" and added that "cryptocurrency has now become mainstream in the UK."
Data: Only 0.01% of listed companies globally hold bitcoin, and the market remains in the "elite experiment stage."
According to incomplete statistics from OKG Tech, only 0.01% of listed companies globally currently hold bitcoin, indicating that institutional buying power is still in the early stages. Since November 6, 17 listed companies in the USA and japan have announced holding or approving bitcoin as a strategic asset, with MicroStrategy recently purchasing 55,500 bitcoins for 5.4 billion dollars last week. Despite recent fluctuations in bitcoin prices due to macro events, its properties as a hedge against inflation and a liquidity-sensitive asset are attracting more institutional funds. OKG Research predicts that about 2.28 trillion dollars may flow into the bitcoin market within the next year, potentially pushing the price to 0.2 million dollars, confirming that bitcoin is moving from an "elite experiment" to a key stage of mainstream asset allocation.
9. BitWise has submitted an ETF application tracking 10 types of cryptos to the SEC.
According to Beincrypto, BitWise has applied to the USA Securities and Exchange Commission (SEC) to launch an ETF based on its 10 types of crypto index fund. If approved, this would become the most diversified and broadly covered crypto ETF in the USA market. According to the documents, the fund includes bitcoin, ethereum, solana, XRP, cardano, avalanche, chainlink, bitcoin cash, polkadot, and uniswap. BitWise has maintained this initial fund since 2018 and has linked its value to the ten most valuable cryptos. The SEC has formally confirmed receipt of the application, marking the start of the countdown for the committee to decide whether to reject or approve the application. However, the deadline for the approval of this application has yet to be determined.
10. Robinhood launches ethereum staking services for European users.
According to Crowdfund Insider, Robinhood announced the launch of an ethereum staking service, allowing European users to earn rewards from their ETH holdings. Additionally, earlier this year, Robinhood Crypto launched solana staking services in Europe. Johann Kerbrat, General Manager and Vice President of Robinhood Crypto, stated that staking services are a highly demanded feature among users but may be complex for newcomers to cryptos. Robinhood has simplified the staking process, enabling users to efficiently contribute to the security of the ETH network while earning returns.
11. Tether CEO: Tether's csi commodity equity index liquidity fund could reach 5 billion dollars by 2026.
According to The Block, following a recent entry into commodity lending, Tether CEO Paolo Ardoino stated that the liquidity fund set aside by Tether Investments for financing raw material trading could grow to between 3 billion and 5 billion dollars by 2026. In a recent interview, he revealed that Tether Investments plans to provide capital lending to commodity brokers and earn interest from temporary financing. Ardoino said, "This is a way to provide liquidity for partners in an industry that is always thirsty for liquidity," adding that Tether Investments has already partnered with some of the largest commodity traders in the industry. For privacy reasons, this Tether executive declined to disclose any names of trading companies. When asked about Tether's interest in commodities, Ardoino mentioned that since USDT is particularly popular among users in emerging markets and developing countries, where commodity sales are a major economic driver, it makes sense to help facilitate trading. He also indicated that Tether is particularly interested in financing oil, henry hub natural gas, and gold trading.
12. CZ suggests using blockchain technology for AI data labeling, advocating decentralized tool development.
Binance founder Zhao Changpeng (CZ) stated on social media that tasks like AI data labeling are well-suited for completion via blockchain, leveraging low-cost global labor and enabling instant payments through cryptos to break geographical barriers. He also mentioned that BNB Chain's Greenfield provides storage support, but more tool development is still needed, calling on developers to collaboratively build a decentralized AI data processing ecosystem.