24-Hour Hot Cryptocurrencies and News | SEC Chairman Atkins states that most ICOs are not securities and are not within the SEC's regulatory scope; the Office of the Comptroller of the Currency confirms that banks are authorized to engage in risk-free principal-based cryptocurrency transactions (December 10).

1. Popular cryptocurrencies on CEXs

Top 10 CEX trading volumes and their 24-hour price changes:

• BTC: +2.49%
• ETH: +6.11%
• SOL: +3.95%
• XRP: +1.34%
• BNB: -0.37%
• DOGE: +4.08%
• ADA: +8.41%
• ZEC: +8.08%
• SUI: +3.61%
• LINK: +4.55%

24-hour gainers list (data source: OKX):

• Night: +303.74%
• WET: +276.80%
• OL: +16.42%
• ZEN: +16.69%
• G: +13.16%
• SD: +13.85%
• WIF: +12.52%
• DEGEN: +11.72%
• PENGU: +10.31%
• MAGIC: +10.20%

24-hour cryptocurrency stock gainers list (data source: msx.com ):

• MIGI: 25%
• SATS: 18.29%
• GLXY: 15.72%
• BMNR: 14.62%
• VVPR: 13.6%
• SUIG: 11.73%
• SMLR: 11.14%
• RKLB: 10.94%
• BNC: 10.62%
• GAME: 10.29%

2. Top 5 trending on-chain memes (data source: GMGN ):

• Zaios
• RNUT
• Rocky
• NB
• Netflix

Headlines

SEC Chairman Atkins: We will accelerate key work on crypto regulation next year.

At the Blockchain Association Policy Summit, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins stated that the SEC will take faster action on several crypto-related agendas next year, saying, "You haven't seen anything yet," and that the regulatory "seeds" planted this year will begin to "sprout and bear fruit" next year.

Atkins recently proposed a "token taxonomy" framework to clarify which crypto assets qualify as securities and launched "Project Crypto" to update the SEC's regulatory rules on digital assets. He also promoted an "innovation exemption" to provide conditional, limited-term regulatory relief for crypto and fintech projects, aiming to reduce compliance costs and promote experimentation. He revealed that this exemption rule could be launched as early as the end of January next year.

SEC Chairman Atkins: Most types of ICOs are not securities and will not be under the SEC's regulatory purview.

At the Blockchain Association's annual policy summit, SEC Chairman Paul Atkins stated that many types of ICOs should be considered "non-securities transactions" and therefore not subject to SEC regulation. He emphasized that cryptocurrencies, digital collectibles, and digital instrument tokens do not constitute securities, and ICOs related to these categories should also not fall under the SEC's jurisdiction.

In its proposed token classification framework last month, Atkins divided crypto tokens into four categories, with only "security tokens" falling under the SEC's jurisdiction, while the other three categories should be handled by the CFTC, which has more lenient regulations. He stated, "Three categories fall under the CFTC's purview; we will focus on security tokens."

The U.S. Office of the Comptroller of the Currency confirms that banks are authorized to engage in risk-free, principal-based cryptocurrency transactions.

The Office of the Comptroller of the Currency (OCC) today issued Explanatory Letter 1188, confirming that national banks can engage in permitted banking activities related to risk-free principal crypto asset transactions. These transactions involve a bank acting as principal in a crypto asset transaction with one client while simultaneously offsetting the transaction with another client. The bank acts as an intermediary, does not hold a stock of crypto assets, and acts as a broker, similar to an agent. As with any activity, national banks must conduct these activities in a safe and sound manner and comply with applicable laws.

Industry News

The average cost price of US spot Bitcoin ETFs is close to $83,000.

Analyst Chris Beamish wrote that the average cost price of US spot Bitcoin ETFs is currently close to $83,000, with BlackRock and Fidelity having slightly lower costs. Whether these cost prices can hold remains to be seen.

Circle partners with Aleo to launch USDCx, a stablecoin with "bank-grade privacy".

Circle co-founder and CEO Jeremy Allaire announced that Circle has partnered with blockchain company Aleo to launch a "privacy" version of its stablecoin, named USDCx. Aleo co-founder Howard Wu stated that USDCx will hide transaction history to address the issue of large institutional clients, such as banks, not wanting their balances and payment history to be publicly disclosed.

The new token, USDCx, is not entirely private; each transaction will include a "compliance record" that Circle can access when law enforcement or other agencies inquire about a specific transaction. However, for public users viewing the blockchain logs, these transactions will appear as incomprehensible "blocks of data." Wu describes it as "bank-grade privacy, not pure privacy."

Project News

Stripe and Paradigm open the Tempo blockchain to the public, adding Kalshi and UBS as partners.

Stripe Inc. and crypto venture capital firm Paradigm have launched a public test for their collaborative blockchain project, Tempo, opening the network to any company interested in building real-world stablecoin payment applications.

Aave proposes deployment to MegaETH, supporting tokens such as cUSD.

Aave Labs has launched an ARFC proposal on the governance forum, proposing to deploy Aave V3 on the MegaETH chain, supporting bridged tokens such as btc.b, ETH, USDM, USDT0, cUSD, iTRY, wstETH, ezETH, rsETH, USDe, sUSDe, stcUSD, as well as native tokens such as MEGA, USDM-Y, and RBT.

Trump Meme officially announced the launch of a mobile game designed for Trump fans.

The Trump Meme token team announced the launch of a mobile game targeting Trump fans. A preview page is now live, and a waiting list is open. The project team stated that the game will feature a Trump token-based reward system, with participants potentially earning rewards worth approximately $1 million.

Coinbase reminds users that they need to complete the STG to ZRO migration themselves.

Coinbase Markets has issued a notice stating that Stargate Finance (STG) has completed its migration to LayerZero (ZRO), and Coinbase will not perform the asset conversion on behalf of its clients. The platform states that users wishing to convert their STG to ZRO must do so themselves using a compatible self-custodied wallet; there is currently no deadline for the conversion.

Ethena launches HyENA, a perpetual contract exchange using USDe as collateral.

Ethena officially announced that HyENA, a perpetual contract decentralized exchange built by the Based team, using Hyperliquid's HIP-3 standard and with USDe as collateral, has been officially launched.

Investment and Financing

Octra Labs announced a $20 million public token sale at a $200 million valuation.

Octra Labs, the association behind the privacy blockchain project Octra, announced that it will launch a public token sale on Sonar (an ICO platform founded by Echo and recently acquired by Coinbase) on December 18th. The sale aims to raise $20 million, corresponding to a fully diluted token value (FDV) of $200 million, locking 10% of the token supply. The tokens will be sold on a fixed-price subscription basis, with all participants receiving tokens proportionally to their investment amount; any unsold tokens will be burned.

Octra Labs stated that the sales allocation ratio may be increased if demand is strong. All tokens will be unlocked and distributed shortly after the sale ends, following a model similar to Ethereum's 2014 ICO.

Character * Voice

Cathie Wood: Bitcoin's four-year cycle is about to be broken; we may have already seen the bottom.

Cathie Wood, founder of ARK Invest, said that Bitcoin's four-year cycle will be broken and we may have already seen the lowest point of this cycle.

SlowMist founder Yu Xian: Zcash's privacy model is more easily accepted by regulators, but Monero remains more "hardcore" in terms of strong privacy.

Yu Xian, founder of SlowMist, stated in an article that while some have recently claimed that "a large proportion of Zcash transactions can be traced," this is not new. Zcash's privacy model has always adopted an "optional privacy" design: z-addresses are highly private, while t-addresses are transparent and traceable.

Hassett: The Fed has ample room to cut interest rates significantly.

Hassett, the White House National Economic Council director and a leading candidate to become the next Federal Reserve chairman, said on Tuesday that he believes the Fed has "ample room" to cut interest rates significantly. When asked if he would push for the "significant rate cuts" Trump hopes for if appointed, he responded, "If the data shows we can do that—like now—I think there's absolutely room to do it." When further pressed on whether this meant a rate cut of more than 25 basis points, he answered unequivocally, "Yes."