Bitget Daily Briefing (December 17) | U.S. November seasonally adjusted non-farm payrolls at 64,000; BlackRock transfers approximately $140 million in ETH to CEX; Visa launches USDC stablecoin settlement service, initially supporting the Solana chain

Today's Outlook

1. The U.S. FDIC proposed rules to establish a framework for stablecoin applications to advance the implementation of the "GENIUS Act."

2. The South Korean government will distribute $15 million in debt relief funds originally intended to support small businesses to cryptocurrency holders.

3. The chairman of the Russian State Duma's Financial Market Committee stated that cryptocurrencies will never become currency in Russia and can only be used as investment tools.

4. According to PANews, CME Group announced that SOL, Micro SOL, XRP, and Micro XRP futures now support TAS (Trading at Settlement) trading functionality, enhancing traders' flexibility in settlement risk management.

Macro & Hot Topics

1. The U.S. non-farm payrolls for November adjusted to 64,000, with an expectation of 50,000. The U.S. unemployment rate for November is 4.6%, with an expectation of 4.4%. Additionally, the non-farm payrolls for August were revised from -4,000 to -26,000; the non-farm payrolls for September were revised from 119,000 to 108,000. After revisions, the total new jobs added in August and September were 33,000 lower than before the revisions.

2. Bitwise predicts that Bitcoin will reach an all-time high in 2026, and its correlation with stocks will decrease.

3. Major Wall Street banks have sold over $530 million in notes linked to BlackRock's Bitcoin ETF.

4. U.S. Treasury Secretary Becerra: The nominee for Federal Reserve Chair will be announced in early January, and both Waller and Hassett are "very, very qualified" to serve as Fed Chair.

5. Goldman Sachs: The Federal Reserve may be more aggressive in cutting rates next year, and the total non-farm payrolls will no longer be the primary indicator.

Market Trends

1. In the past 24 hours, the cryptocurrency market experienced liquidations totaling $258 million, with $151 million in long liquidations. The liquidation amount for BTC was $61 million, and for ETH, it was $104 million.

2. U.S. stocks: Dow Jones -0.62%, S&P 500 -0.24%, Nasdaq Composite +0.23%. Additionally, Nvidia (NVDA) +0.81%, Circle (CRCL) +9.9%, Strategy (MSTR) +3.34%.

3. The Bitget BTC/USDT liquidation map shows: Currently, a large number of long liquidations (red) are concentrated below approximately $87,548 for BTC, indicating that if it falls below the $87k level, it may trigger consecutive long stop-losses, exacerbating downward volatility. The short liquidations (green) are gradually accumulating in the $88k--$92k range, and once a breakout occurs, it could easily lead to a short squeeze, driving prices up rapidly.

4. In the past 24 hours, BTC spot inflows were approximately $56 million, outflows were about $89 million, resulting in a net outflow of $33 million.

News Updates

1. The UK will review cryptocurrency donations to investigate party financing issues.

2. U.S. Senator Warren calls for an investigation into cryptocurrency projects associated with Trump.

3. The number of cryptocurrency holders in the UK has dropped to 4.5 million, with the average holding amount rising to about $2,500.

4. Canadian listed company Matador Technologies revised the terms of its $100 million convertible bond, with the first $10.5 million solely used for purchasing Bitcoin.

5. According to AXIOS, Elon Musk has begun funding Republican campaigns for the 2026 midterm elections, indicating a thaw in his relationship with Trump after their intense conflict earlier this year.

Project Progress

1. Former Alameda CEO Caroline Ellison was released from prison in October and has entered community supervision.

2. Yearn Finance V1 was hacked, resulting in a loss of approximately $300,000.

3. The Marshall Islands launched the world's first blockchain-based universal basic income program on the Stellar chain.

4. AAVE token holders proposed that the DAO adopt a "poison pill plan" to take over Aave Labs, escalating income distribution disputes.

5. According to PANews, Aave founder Stani.eth announced on the X platform that after four years, the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into the Aave protocol, with the Aave team investing significant effort and resources to protect Aave and its ecosystem.

6. Stable launched the Uniswap fork protocol Stable Swap, achieving functionality between Uniswap V2 and V3.

7. K33 analysts: Bitcoin's Q4 performance significantly lagged behind the stock market, which may indicate a positive trend in January.

8. According to PANews, Bubblemaps stated that the price of $PIPPIN continues to rise, but it claims that internal addresses currently hold about 80% of the supply, valued at approximately $380 million.

9. Bloomberg reported that Visa announced that U.S. banks can use Circle's USDC for transaction settlements via the Solana blockchain, marking the first full deployment of its stablecoin settlement service in the U.S. banking system.

10. Last night, BlackRock transferred over 47,000 ETH to Coinbase, valued at approximately $140 million.

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