ChainCatcher news, Trump made some promises to the crypto industry during his campaign, and whether he will make the U.S. government a holder or even a buyer of Bitcoin remains a hot topic. SkyBridge Capital founder Anthony Scaramucci stated, "I want to remind everyone, if you think that after January 20th next year a switch will be flipped and everything will get better, and the Bitcoin and digital asset community will thrive, you are mistaken; that's not how Washington works."

ChainCatcher message, BurnPENGU founder @valeriehub stated that due to an operational error, 90% of the private placement reserved tokens were destroyed, and the minting rights have also been revoked; the destruction of BurnPENGU was executed through the Incinerator burning program, not sent to the contract address, and it has been confirmed that it cannot be recovered.Currently, we are contacting the SLERF founder for assistance, and the BurnPENGU community should reach out to the Binance Chain official for help.BurnPENGU currently has a total trading volume of 1.6 million USD, with 94.97% of the total 1 billion tokens already destroyed. The holding of 50 million on-chain has essentially entered a state of destruction, and BurnPENGU2 is currently priced at 0.0000633 USD, with an increase of 33.46%.

ChainCatcher news, South Korean lawmaker Choi Eun-sik has proposed an amendment to the "Foreign Exchange Transactions Act," aimed at preventing money laundering and other foreign exchange crimes related to virtual assets. The amendment proposes the establishment of a monitoring system for virtual asset transactions, the improvement of the institutional foundation for financial technology foreign exchange services, the enhancement of the convenience of foreign exchange transactions for individuals and businesses, and the strengthening of the intelligent construction of the foreign exchange monitoring system.He stated that the rapid development of virtual assets and financial technology in recent years has diversified cross-border transaction methods, but current laws have failed to cover these changes, leading to regulatory blind spots, particularly as money laundering involving virtual assets and illegal foreign exchange transactions have become increasingly serious.According to data from the Financial Intelligence Unit (FIU), the number of suspicious transaction reports from virtual asset merchants increased by 48.8% last year compared to the previous year. The Ministry of Finance plans to add definitions for virtual assets and virtual asset merchants next year and requires virtual asset merchants to register before conducting cross-border transactions and to regularly report users' transaction records to the Bank of Korea.The amendment is expected to be implemented in the second half of next year.

ChainCatcher news, according to Caixin, the U.S. House of Representatives voted on December 20 local time to pass an emergency funding bill to prevent a government "shutdown." The new bill will continue to provide operating funds for the U.S. government until March of next year, thereby avoiding a "shutdown" of certain federal agencies after midnight on the 21st Eastern Time.It is reported that the latest bill is almost identical to the one that failed to pass on the 19th, but it removed the section regarding the debt ceiling, leaving three main parts: a short-term extension of government spending, billions of dollars in disaster relief funds, and additional assistance for farmers.

ChainCatcher news, according to IT Home citing The Wall Street Journal, Meta is urging California Attorney General Rob Bonta to block OpenAI's plan to transition into a for-profit entity, marking its stance alongside Musk in the battle between the two AI giants in Silicon Valley.In a letter sent to California Attorney General Rob Bonta on Thursday local time, Meta stated that allowing OpenAI to transition into a for-profit company would set a dangerous precedent for startups, enabling these companies to continue enjoying the tax benefits of non-profit organizations before they are ready to turn a profit.Meta wrote in the letter: "OpenAI's actions could have far-reaching implications for Silicon Valley. If OpenAI's new business model is accepted, then non-profit investors will gain the same profit opportunities as those investing in traditional for-profit companies, while still benefiting from government tax breaks."

ChainCatcher news, according to Jinshi reports, the U.S. Consumer Price Index (CPI) in November recorded the largest increase in seven months, but against the backdrop of a cooling job market, this is unlikely to prevent the Federal Reserve from cutting interest rates for the third time next week. Data shows that last month the CPI rose by 0.3% month-on-month, the largest increase since April, after the index had risen by 0.2% for four consecutive months. The year-on-year growth rate of the CPI increased by 2.7% after rising by 2.6% in October. Compared to the peak of 9.1% in June 2022, the year-on-year growth rate of inflation has significantly slowed down.Nevertheless, the process of bringing the inflation rate down to the Federal Reserve's 2% target has effectively stalled in recent months. However, the Federal Reserve is now more focused on the labor market. Although job growth accelerated in November after being severely disrupted by strikes and hurricanes in October, the unemployment rate rose to 4.2% after remaining at 4.1% for two consecutive months.

ChainCatcher news, according to Jinshi reports, Capital Economics analyst Stephen Brown stated that the November non-farm payroll data shows that the U.S. labor market has not collapsed, but it has not heated up either. Therefore, next week's CPI and PPI reports may become the last set of data to prevent the Federal Reserve from cutting interest rates in December.He said that the Federal Reserve "may be somewhat concerned about an average hourly wage increase of 0.4% month-on-month; however, given that the year-on-year growth rate is still 4.0%, it is not a major issue at the moment." Brown predicts that core inflation in November will show weak growth, which will make a 25 basis point rate cut more likely than a pause in rate cuts.

ChainCatcher news, according to Yonhap News Agency, Kim Byoung-hwan, chairman of the Financial Services Commission (FSC) of South Korea, announced that the government will take strong measures to prevent virtual assets from becoming a "loophole" in the anti-money laundering system.At the 18th Anti-Money Laundering Day ceremony, Kim Byoung-hwan emphasized that cases of virtual assets being misused for illegal activities are not uncommon.He also added that future amendments to the Foreign Exchange Transaction Act will require virtual asset service providers participating in cross-border transactions to register in advance and report transaction details to ensure that virtual assets are not used for illegal fund transfers or tax evasion.

ChainCatcher message, Binance will enforce the Self-Trade Prevention (STP) feature for all Binance contract users starting from December 10, 2024, at 14:00 (UTC+8). With this update, STP will cover spot, margin, and contract trading on the Binance platform.

ChainCatcher news, according to The Block, Forta is a Web3 security company supported by a16z crypto, Coinbase Ventures, and other investors, which has now launched a new product called Firewall to help detect and prevent smart contract vulnerabilities.It is reported that this firewall uses a machine learning and artificial intelligence model named FORTRESS, which analyzes and detects high-risk transactions by examining transaction logs. The business model of the Forta firewall is to charge a fixed monthly fee, although Beal declined to disclose the specific amount. Initial clients include Euler, Plume, and Balmy.

ChainCatcher news, according to Caixin, the outcome of the U.S. election, which could significantly impact policy direction, is uncertain, and Wall Street is on high alert. Trading desks will have staff on duty overnight, and teams in Hong Kong and Singapore are arranged to assist. The "Trump trade" of going long on the dollar and shorting bonds may increase positions or be quickly closed out. Some institutions are taking unprecedented measures for this election. A London-based hedge fund has prepared a "world-shocking" computer model for this moment. Some banks are preparing for the risk of social unrest, no matter how distant that risk may seem; if it materializes, it would shake the U.S., the world, and global financial markets. JPMorgan plans to increase staffing in Europe and Asia to handle overnight trading and volatility; Goldman Sachs expects hundreds of sales and trading teams to work late into the night in New York, with more people ready to work from home.Employees across the industry in the U.S. are preparing for overnight work. As Harris and Trump make their final push to rally voters, American society is polarized, and the election is so tightly contested that the financial industry is simulating potential impacts. Currently, the market believes Trump will win. The stock market is rising, and both the dollar and cryptocurrencies are up. Bond yields are climbing. If Harris ultimately wins, the "Trump trade" could quickly reverse, leading to significant market volatility overnight.

ChainCatcher news, Torsten Slok from the asset management firm Apollo stated in a report that, as data continues to show that the U.S. economy remains relatively strong, the Federal Reserve may change its course and not cut interest rates at all.He said, "The Atlanta Federal Reserve Bank's forecast for third-quarter GDP is currently 3.4%, and the bottom line is that the economy will continue to expand." Slok believes that the economy benefits from favorable factors, including a dovish Federal Reserve, the impending end of election uncertainty, and easing geopolitical risks. Slok stated that considering these factors, the Federal Reserve is more likely to keep interest rates unchanged in November rather than cut them.

ChainCatcher message, Tapioca DAO has encountered a major security vulnerability, with attackers stealing approximately 4.4 million dollars worth of cryptocurrency, and the price of TAP tokens plummeting by over 95%.The attackers obtained the private keys through social engineering, resulting in a significant amount of funds being transferred. Nevertheless, the team collaborated with security agencies and successfully moved 1,000 ETH (approximately 2.7 million dollars) to a secure location, preventing further losses. Currently, the hackers still hold part of the stolen assets, and the team is continuing efforts to recover the remaining funds.

ChainCatcher message, BNB Chain announced that BNB Beacon Chain validators will stop validating before mid-November to complete the shutdown. At that time, the BNB Beacon Chain will cease operations and stop processing any new transactions. BNB Chain urges users and centralized exchanges to take concrete actions to prevent complete asset loss.

ChainCatcher news, the UK fintech company Revolut stated that in the past three months, it has prevented nearly $13.5 million in cryptocurrency losses for its customers by strengthening fraud protection measures.Earlier this year, the company launched its cryptocurrency-specific trading platform Revolut X in the UK, with algorithms that flagged 8% of transfers as potentially suspicious from June to September. After a more in-depth review process, only 1 out of every 5,000 flagged transfers resulted in account closures. This accounts for just 0.02% of Revolut's 45 million customers worldwide.

ChainCatcher message, friend.tech posted on X stating that the Admin and ownership parameters have been set to 0x000...000 to prevent any future changes to its fees or functionality. This change will not affect the separate web client running on friend.tech, which will continue to operate normally. Currently, no fees from the smart contract or friend.tech will flow to the friend.tech development team's multisig.