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$7.2 billion worth of crypto will be unlocked in the first month of this year, potentially creating market volatility
Quick Take During a Bloomberg TV interview on Wednesday, SEC Chair Gary Gensler repeated his assertion that crypto is “rife with bad actors.” He also drew comparisons to former president Donald Trump-appointed Chair Jay Clayton.
Quick Take Pump.science’s longevity experiments on laboratory mice will involve giving the animal subjects potentially “life extending compounds” and then testing their physical endurance. Using video of the mice trying to stay on a rotating rod and provided data, people will be able to wager the mice’s performance on the Solana-based, prediction platform Hedgehog Markets.
Quick Take CFTC Chair Rostin Behnam made his last public speech on Wednesday at a Brookings Institution event in Washington, D.C., repeating his call for Congress to fill a gap in crypto regulation. Behnam said the legislation would take time, noting a new presidential administration and new makeup in Congress.
Quick Take The criminal trial of Terraform Labs founder Do Kwon has been tentatively scheduled for late January of next year. Kwon, who pleaded not guilty, could face up to 130 years in prison if convicted of the nine charges related to the collapse of his failed TerraUST stablecoin.
Quick Take The U.S. entities’ bitcoin reserves share over non-U.S. entities reached a ratio of 1.65 as of Jan. 6, according to CryptoQuant data. The share of bitcoin reserves held by U.S. entities soared between last September and December, during which Donald Trump was reelected as U.S. President.
- 21:09U.S. Senate Confirms Former Blockchain Industry Executive Jonathan Gould as OCC ChiefAccording to Jinse Finance, the U.S. Senate has confirmed former Bitfury Chief Legal Officer Jonathan Gould as the head of the Office of the Comptroller of the Currency (OCC) with a vote of 50 to 45. The nomination will now be sent to President Trump for final approval. Gould previously served as OCC’s Chief Counsel and Deputy Comptroller. This year, the OCC has taken more crypto-friendly measures, including allowing U.S. banks to hold crypto assets on their own balance sheets. Meanwhile, the House of Representatives is accelerating stablecoin legislation and will hold a “Crypto Week” next week to review the GENIUS Act, which requires stablecoins to be fully backed by highly liquid assets such as the U.S. dollar and mandates annual audits for issuers with a market capitalization exceeding $50 billion.
- 20:47pump.fun acquires on-chain wallet tracking tool KolscanOdaily Planet Daily reports that pump.fun has announced the acquisition of the wallet tracking tool Kolscan. Kolscan enables real-time tracking of top on-chain traders’ wallet activities, offering transaction updates, token profit and loss data, and leaderboard features. According to pump.fun, this integration will deliver an enhanced product experience for users of both platforms and is expected to create a new on-chain trading experience, reshaping the related ecosystem.
- 20:01Federal Reserve Governor Waller Supports Balance Sheet Reduction and Adjustment of Asset CompositionAccording to Jinse Finance, Federal Reserve Governor Waller stated that the balance sheet should continue to be reduced, including adjusting the asset structure to increase the proportion of short-term assets, but there may be no need for excessive cuts. "I believe it is very likely that we will continue, for some time, to allow securities that mature or are prepaid to naturally roll off the balance sheet, thereby reducing reserve balances," Waller said in a speech prepared for a Dallas Fed event on Thursday. In his speech, which focused on the balance sheet, Waller advocated for balance sheet reduction, but to a lesser extent than some Fed watchers and economists have suggested. He noted that current bank reserves remain "ample" (above the Fed's defined "sufficient" standard), and the ideal level should be maintained at around $2.7 trillion. Including the Fed's holdings of currency in circulation and the Treasury General Account balance, the total balance sheet would reach $5.8 trillion, compared to the current $6.7 trillion.