Daily | Bitget will destroy $5 billion worth of BGB; Binance Alpha announces the 8th batch of project tokens; LayerZero did not pass the proposal to turn on the protocol fee switch

Author：Coin Encyclopedia

arrangement: Fairy， Coin World Network

Important information:

Bitget will destroy BGB worth over $5 billion, accounting for 40% of the total supply
Solana is accused of concealing millions of dollars in pledged rewards in her divorce agreement with her ex-wife
Binance Alpha launches Arc WHY、APU、HAPPY、FWOG
The State Administration of Foreign Exchange has issued management measures for reporting high-risk transactions such as illegal cross-border financial activities involving virtual currencies
Binance BNSOL Super Pledge Online MANTRA (OM)
LayerZero's vote on 'turning on protocol fee switch' did not pass
Strive Asset Management applies to SEC for Bitcoin Bond ETF
Bitwise submits ETF application for listing "Bitcoin Standard Company" to the US SEC

What important events have occurred in the past 24 hours

Cambodia approves commercial banks and payment institutions to provide cryptocurrency services, including stablecoins and secured cryptocurrencies

The National Bank of Cambodia (NBC) has approved commercial banks and payment institutions to provide stablecoin or secured cryptocurrency related services. This is the first time NBC has approved such services, and the relevant instructions were issued on December 26th and announced on December 27th. However, Bitcoin is still prohibited.

According to the new regulations, institutions need to obtain prior approval from NBC before conducting cryptocurrency exchange, inter account transfers, and custody services.

Bitget will destroy BGB worth over $5 billion, accounting for 40% of the total supply

The Bitget team has released a new version of the BGB white paper, announcing the introduction of a repurchase and destruction mechanism. In the first destruction, 800 million BGBs held by the core team will be destroyed at once, accounting for 40% of the total supply. Based on the current price of BGBs, the value of the destroyed portion exceeds 5 billion US dollars. After destruction, the total supply of BGB will be reduced to 1.2 billion and 100% fully circulated.

At the same time, BGB will initiate quarterly repurchase and destruction. Starting from 2025, Bitget will repurchase and destroy BGB with 20% of the quarterly profits from the exchange and wallet business. The profits will be composed of Bitget's spot, contract, and leveraged trading fees, as well as Bitget Wallet's income from Swap, contract, NFT trading fees, and other sources.

The white paper also introduces BGB's future equity plan, which will focus on three parts: on chain application scenarios, PayFi payment scenarios, and on site equity scenarios, allowing BGB to become a mainstream asset and deeply integrate into popular public chains and top DeFi ecosystems.

Bitget CEO Gracy Chen said, "The Bitget team's decision to proactively destroy over $5 billion in platform coins fully demonstrates our firm determination to uphold long-term principles. In the past decade, CEX has played a crucial role in driving the development of the encryption industry. As more applications and activities gradually migrate to the blockchain, Bitget will build an integrated ecosystem of on chain and off chain with BGB as the core, continuing to promote industry innovation and development

Solana is accused of concealing millions of dollars in pledged rewards in her divorce agreement with her ex-wife

According to DLNews, Solana co-founder Stephen Akridge is suspected of concealing millions of dollars in pledged rewards during his "intense" divorce from ex-wife Elisa Rossi. Rossi has filed a lawsuit in California state court seeking the withheld pledge reward. Their marriage lasted for nearly ten years, during which they accumulated a large amount of wealth, mainly from Akridge's founding role at Solana Labs.

According to the lawsuit, Rossi claimed that the divorce process was "lengthy and controversial". As part of the divorce agreement, she was entitled to receive a portion of the profits from SOL tokens, but Akridge did not hand over the staking rewards to her, resulting in her losing "millions of dollars". After learning that Akridge concealed these staking rewards, Rossi contacted him multiple times to request their return, but received a cold response.

The State Administration of Foreign Exchange has issued management measures for reporting high-risk transactions such as illegal cross-border financial activities involving virtual currencies

According to the announcement of the State Administration of Foreign Exchange, the "Management Measures for Foreign Exchange Risk Trading Reports of Banks (Trial)" have been issued and will come into effect from today. The "Measures" are supporting documents of the "Management Measures for Bank Foreign Exchange Business (Trial)", aimed at strengthening bank foreign exchange risk management, early identification, early warning, and early disposal of high-risk transactions such as suspected false trade, underground banks, and illegal cross-border financial activities of virtual currencies.

The main content includes: clarifying the responsibility of banks for reporting foreign exchange risk transactions, requiring the establishment of monitoring systems and the submission of reports; Specify the scope of information submission, including activities suspected of illegal and irregular cross-border fund flows; Clearly define the report content, such as basic information and proposed measures to be taken; Strengthen internal management measures, including internal control systems and data confidentiality management.

Binance BNSOL Super Pledge Online MANTRA (OM)

Binance BNSOL Super Pledge will launch its third phase project, MANTRA (OM), which is a first layer blockchain designed specifically for tokenizing real-world assets.

During the period from 08:00 on January 1, 2025 to 07:59 on February 1, 2025 (GMT+8 time), users who hold BNSOL in Binance accounts and wallets, or pledge SOL to BNSOL, will receive OM APR Boost airdrop rewards.

Binance Alpha launches Arc WHY、APU、HAPPY、FWOG

According to official sources, Binance Alpha has announced the 8th batch of project tokens, including arc WHY、APU、HAPPY、FWOG。

Founder of ai16z joins Eliza project as a consultant

AVA announced on the X platform that Shaw, the founder of ai16z, has joined the Eliza project as a consultant. At the same time, Jeff, director of Eliza Studios and creator of ai16z, Ropirito, researcher at Nous Research, and Matthew, founder of Ryze Labs, have also announced their appointment as consultants for the Eliza project.

LayerZero's vote on 'turning on protocol fee switch' did not pass

The voting on the proposal to "turn on the cost switch" for LayerZero has ended. As the quorum has not been reached, the LayerZero protocol cost switch will remain closed, and the next vote will be held in six months.

Citigroup: Cryptocurrencies will surge in 2025 driven by Trump policies and ETF fund inflows

According to Bitcoin.com, Citibank analysts predict that cryptocurrency will achieve strong growth in 2025, driven by Trump policies, increased ETF inflows, and stablecoin innovation. Bitcoin's breakthrough of $100000 may just be the beginning.

Citi analysts predict a shift in regulation and explain that this is more of a story of removing resistance than a story of deregulation, meaning that policies may reduce obstacles that previously hindered growth rather than relaxing regulation. Wide adoption remains the key to the long-term success of cryptocurrencies.

Bitwise submits ETF application for listing "Bitcoin Standard Company" to the US SEC

According to Cointelegraph, Bitwise has submitted an application to the US Securities and Exchange Commission (SEC) to list the Bitcoin Standard Companies ETF.

The fund aims to provide exposure to stocks of companies that adopt the Bitcoin standard and hold at least 1000 BTC in their corporate financial assets.

Strive Asset Management applies to SEC for Bitcoin Bond ETF

Vivek Ramaswamy's Strict Asset Management has applied to the US Securities and Exchange Commission (SEC) for a Bitcoin Bond ETF.

What wonderful articles worth reading in the past 24 hours

What are the projects worth participating in on Hyperliquid, a dark horse in the bull market?

Every bull market will bring out a dark horse exchange, and Hyperliquid seems to be the dark horse of this bull market.

Although it has not yet been listed on CEX platforms such as Binance and Coinbase, the fully diluted valuation (FDV) of Hyperliquid has reached $27 billion, ranking among the top 30 cryptocurrency asset markets. The performance of its HYPE token is particularly impressive, with an initial price of $3.9 per token for the initial TGE issuance. The peak price within a month approached $35 per token, making it a highly sought after asset and causing many investors to sell out.

But if you miss out on Hyperliquid and the Hyperliquid ecosystem project, why not take a look at some projects worth participating in on Hyperliquid.

The encryption predictions for 2025 from various institutions have been released one after another. Did they all say it right last year

Correction Homework Time - This article takes you on a one-stop review of the popular predictions and actual performance of the cryptocurrency industry in 2024, and shows how many of the top investment research institutions such as Binance Labs, Coinbase Venture, a16z, Messari, Pantera Capital, etc. fulfilled their market predictions last year? After all, their forecast for this year has been released again.

Prediction is a contest of intelligence and vision, and the market provides answers with ruthless reality. Get ready, let's take a look at the crypto world this year!

❌ Represents that the prediction is incorrect or not entirely correct

☑️ Represents that the prediction is correct

⭕ ️ represents incomplete accuracy, there is room for discussion

2024 Crypto AI Track Narrative Evolution: From Decentralized GPU, Data and Other Infrastructure to AI Agents | Annual Inventory

In 2024, the field of "Crypto+AI" achieved unprecedented breakthrough growth. At the beginning of the year, this field was only composed of a few projects, but now it has become an independent track that cannot be ignored in the cryptocurrency market.

According to the latest data compiled by Binance, the total market value of assets in the crypto AI sector has exceeded $70 billion on December 7th, with the highest proportion in the entire crypto market reaching 2% and an annual growth rate of 400%.

At the same time, the number of encrypted AI projects has also shown explosive growth, currently exceeding 600, covering multiple categories of products such as decentralized AI infrastructure and AI Dapps.

Looking back at 2024, the narrative of encrypted AI has undergone several significant changes. At the beginning of the year, OpenAI's Sora project ignited a hype wave for encrypted AI infrastructure. Subsequently, the NVIDIA AI Annual Conference brought decentralized GPUs to the forefront of market attention, and investors began to pursue AI decentralized infrastructure. In the middle of the year, the encrypted AI field welcomed an investment boom, and encrypted VC institutions announced their own layouts. Many encrypted projects received financial support, accelerating the research and application process of technology. At the end of the year, the explosion of AI Agent Meme pushed the narrative of encrypted AI to a new climax.