Bitget Daily Briefing (December 9) | Michael Saylor is promoting a Bitcoin-backed banking system to governments; CFTC launches a digital asset pilot program allowing BTC, ETH, and USDC as collateral

Today's Outlook

1. U.S. Senator Moreno calls the negotiations on the crypto bill "frustrating," as the legislative process intensifies towards the end of the year.

2. Strategy CEO: The company will hold Bitcoin at least until 2065, maintaining a long-term accumulation strategy. Meanwhile, Strategy founder and executive chairman Michael Saylor is promoting a Bitcoin-backed banking system to governments around the world.

3. The U.S. CFTC launches a digital asset pilot program, allowing BTC, ETH, and USDC as collateral.

Macro & Hot Topics

1. U.S. Bureau of Labor Statistics: The release of October PPI data is postponed to January next year, to be published alongside November data.

2. The U.S. announced that the November New York Fed 1-year inflation expectation is 3.2%, down from the previous value of 3.24%. Additionally, the U.S. October JOLTs job openings will be released today at 23:00 (UTC+8).

3. Strategy recently spent approximately $963 million to acquire 10,624 Bitcoin.

Market Trends

1. In the past 24 hours, the cryptocurrency market saw a liquidation of $201 million, with $106 million in short positions liquidated. BTC liquidation amounted to $64 million, while ETH liquidation was $51 million.

2. U.S. stocks: The Dow Jones fell by 0.45%, the S&P 500 fluctuated by 0.35%, and the Nasdaq Composite dropped by 0.14%. Additionally, Nvidia (NVDA) rose by 1.72%, and Strategy (MSTR) increased by 2.63%.

3. Bitget BTC/USDT liquidation map shows: A large number of high-leverage long positions have accumulated above the current price (around $90,000), and a slight pullback could trigger concentrated long liquidations. The accumulation of short positions below is relatively light, and if the price continues to rise, the upward space driven by short liquidations will be greater.

4. In the past 24 hours, BTC spot inflow was $80 million, outflow was $102 million, resulting in a net inflow of $22 million.

News Updates

1. A judge investigates the charges against Do Kwon in South Korea before sentencing in the U.S.

2. CEOs of Bank of America, Wells Fargo, and Citigroup will meet with U.S. senators on Thursday to discuss legislation for the crypto market.

3. Tether's stablecoin USDT has received key regulatory approval in Abu Dhabi for use across multiple mainstream chains.

4. The UK's FCA plans to simplify retail investment rules, allowing high-net-worth individuals to choose higher-risk products.

Project Progress

1. The H token team’s associated wallet transferred H tokens worth $2.9 million to CEX early this morning.

2. Jupiter: The public sale of WET tokens has been restarted, with a limited release of 30 million tokens.

3. USDC Treasury has minted an additional 500 million USDC on the Solana chain; Tether has issued an additional 1 billion USDT on the Tron chain.

4. Magma Finance has completed a $6 million strategic financing round to build an adaptive liquidity engine for the Sui network.

5. BitMine increased its holdings by 138,452 ETH last week, surpassing 3.86 million in total holdings.

6. MegaETH: Next week, it will open Frontier to application developers.

7. The U.S. SEC has concluded a two-year investigation into Ondo Finance without recommending charges.

8. BlackRock has submitted an application for the iShares Ethereum Trust ETF.

9. Ripple's $500 million stock sale reportedly includes "profit protection" buyback clauses. Ripple completed a stock sale of approximately $500 million (valued at about $40 billion) in November. Some investors estimate that about 90% of Ripple's net assets come from its holdings of XRP (valued at about $124 billion in July, with a lock-up released in batches). The agreement includes protective clauses: investors can sell back at a 10% annualized return within 3-4 years; if Ripple opts to repurchase, the return is 25% annualized. Additionally, there are liquidation priority rights.

10. An address turned $716 into $244,000 through trading Franklin tokens, achieving a return rate of 340 times.

**Disclaimer: This report is generated by AI, with human verification for information only and does not constitute any investment advice.