Crypto Morning News: Coinbase and OKX to list Movement token; Trump confirms nomination of Paul Atkins as SEC Chair
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Crypto Morning News: Coinbase and OKX to list Movement token; Trump confirms nomination of Paul Atkins as SEC Chair
Magic Eden has opened the airdrop inquiry page.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Developments
Meitu Sells Approximately 31,000 ETH and 940 BTC
According to Cailian Press, Meitu announced on the Hong Kong Stock Exchange that it began selling its previously acquired cryptocurrencies in November 2024. As of December 4, 2024, the company has sold all of its cryptocurrency holdings—approximately 31,000 ETH and 940 BTC—for total cash proceeds of about $100 million and $80 million respectively, realizing a profit of approximately $79.63 million (around RMB 571 million).
The board intends to use approximately 80% of the net proceeds from the sale for a special dividend payment, while the remainder will be allocated as general working capital to expand the group’s subscription-based image and design product business.
Crypto KOL Ansem: Ethereum at Peak Technical and Fundamental Condition, Bullish Outlook to $5,000
Crypto influencer Ansem posted on social media: "From both technical and fundamental perspectives, Ethereum is currently in the best position of this cycle: ETH/BTC has stabilized at the key support level of 0.03; regulatory conditions are improving, potentially paving the way for ETF staking products; next-generation Layer2 solutions are launching soon, with Base and Virtuals showing strong performance. Ethereum’s price is expected to break above $5,000."
Magic Eden Opens Airdrop Lookup Page
Magic Eden announced on social media that it has opened an airdrop lookup page. Users must download the Magic Eden Wallet app, scan the QR code, and connect their wallet to check eligibility.
Coinbase and OKX to List Movement (MOVE) Token
Both Coinbase and OKX have announced plans to list Movement (MOVE) token for spot trading, supporting the ERC-20 token standard.
Trump Confirms Paul Atkins Nominated as SEC Chair
Trump announced on social media that Paul Atkins has been nominated as Chair of the Securities and Exchange Commission (SEC). Trump stated that Paul Atkins recognizes digital assets and other innovations as vital to making America greater than ever before.
Suspected Sotheby’s VP Address Purchased 15% Supply of Meme Coin VOID During Private Sale, Unrealized Profit ~$1.5M
According to monitoring by @ai_9684xtpa, Ban developer deployed a new token called VOID. A wallet address suspected to belong to a Sotheby’s vice president purchased 15% of the token supply during the private sale for 4.87 SOL (approximately $1,139). The current market cap of VOID has reached $11.6 million, resulting in an unrealized profit of about $1.5 million for the address.
VOID shares the same creator address as the previously popular BAN token, which matches a wallet address previously disclosed—and later deleted—by the Sotheby’s VP.
Michael Saylor: Bitcoin Will Rise to $180K Then Drop to $140K
MicroStrategy founder Michael Saylor, speaking in a CNBC interview about Bitcoin volatility, jokingly remarked: "Bitcoin will go up to $180,000, then drop to $140,000, and then people will panic again."
South Korean Opposition Lawmaker Kim Found Listening to Stacks Project’s Twitter Space During Parliamentary Martial Law
On December 4, GM Chung, co-founder of DeSpread, revealed that community members reported opposition lawmaker Kim (@lawmaker2024) was found listening to the Stacks project’s DeFi Show Twitter Space during martial law at the South Korean parliament. The lawmaker had previously publicly disclosed holding 450,000 STX tokens (worth about $1.1 million).
KIP Protocol Announces $KIP Token TGE on December 10; Node Holders Eligible for Airdrop
Official sources report that decentralized AI infrastructure protocol KIP Protocol will conduct its $KIP token TGE on December 10, further advancing the development of DeAI. Its whitelist node sale (node.kip.pro) is currently ongoing and will end on December 7 at 12:00 PM (UTC+8).
All KIP node purchasers—including early whitelist supporters—will receive $KIP airdrop rewards, which can be activated within 7 days after TGE.
KIP is a Web3 infrastructure built for AI app developers, model creators, and data owners, enabling easy deployment and monetization of AI assets while fully preserving ownership. To date, KIP has implemented real-world DeAI use cases across education, entertainment (AI agents), biotechnology, government, and more, raising over $10 million in funding.
Market Data
Recommended Reading
Canary in the Coal Mine? Wintermute’s Recent Bets on 4 AI Agent Tokens
Wintermute has recently invested in four AI agent tokens: aixbt, nftxbt, Empyreal, and AVA.
This article introduces Scrypted, an AI game development company that raised $1.5 million in funding led by PTC Ventures and a16z crypto CSX. The funds will be used to build Inori, a decentralized AI infrastructure network. Inori aims to provide AI agents with an environment for autonomous decision-making and self-management of computing resources. This initiative is closely linked to Scrypted’s legacy AI meme project AVB, which may gain unique privileges on the Inori network. The article also explores potential evolutionary directions for AI memes under the emerging concept of "Web4".
How Retail Traders Lose Money in Crypto
Main reasons retail traders lose money: 1) Fear of risk leads them to avoid large positions early in bull markets; 2) Mid-level retail traders fail to cut losses decisively; 3) Chasing high-risk assets in hopes of getting rich overnight.
This article features an interview with Hyperliquid founder Jeff, covering the platform’s founding journey, product philosophy, fundraising strategy, and views on the crypto industry. Jeff transitioned from quantitative trading to creating Hyperliquid, inspired by the rise of DeFi and the FTX collapse. Hyperliquid aims to become a decentralized perpetual contract exchange capable of meeting all users’ Web2 financial needs.
Everything You Need to Know After Trump Nominates Paul Atkins as SEC Chair
Trump’s nomination of Paul Atkins as chair of the Securities and Exchange Commission (SEC) is expected to usher in a more favorable regulatory environment for the crypto industry.
Trump appears intent on driving regulatory reform in the crypto sector through leadership changes at the SEC. Paul Atkins is seen as an innovation advocate and reformer who will strengthen the SEC’s core mission while fostering a more inclusive environment for the crypto industry.
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