Market Digest

On January 20, CFTC and SEC Chairs will step down, with Behnam advocating for CFTC crypto oversight and Gensler criticizing the industry's noncompliance. Meanwhile, Solana surpassed Ethereum in DEX trading volume at $4B, and DEX trading now exceeds 20% of CEX volume, signaling rapid growth.

Base is exploring the tokenization of $COIN to bring assets on-chain, Binance leads with 250M users compared to Bybit’s 60M and Gate’s 20M, and MiCA’s full implementation has raised compliance uncertainty for USDT in the EU, pushing users toward USDC, now trading at a premium.

Over 30% of South Koreans hold crypto, with 15.6M users in November. Russian firms are using Bitcoin for international payments amid sanctions. Bitget's BGB token hit new highs, ranking No.16 by market cap, with the community targeting $10, which could place it among the top 10-14 tokens.

Binance Alpha is a platform in Binance Wallet for promising crypto projects. US GAAP now mandates fair value measurement for certain crypto assets, with changes in net income and additional disclosures. Ethena Labs launched USDtb, a BlackRock-backed stablecoin.

OKX launched OKSOL on Dec 11, 2024, letting users stake SOL and receive OKSOL at a 1:1 ratio while maintaining liquidity. Microsoft shareholders rejected a Bitcoin investment proposal. Binance relaunched its Web3 Wallet with a $5M+ airdrop starting Dec 10, 2024.

The SEC rejected $SOL spot ETFs, with no new crypto ETFs expected under the current administration. BitGo launched a retail platform with a Bitcoin giveaway for U.S. users. South Korea delayed its crypto tax until 2027, with new regulations starting in 2025.