Crypto Morning News: Microsoft shareholders vote against Bitcoin investment proposal, Fuel Labs announces launch of native token FUEL
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Crypto Morning News: Microsoft shareholders vote against Bitcoin investment proposal, Fuel Labs announces launch of native token FUEL
Trump hopes Bitcoin will reach $150,000 early in his presidential term.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Microsoft shareholders vote against Bitcoin investment proposal
According to Jin10 News, voting results showed that Microsoft’s major shareholders opposed the company’s Bitcoin investment proposal on Tuesday.
Earlier, Microsoft’s board had urged shareholders to reject a recommendation from the Center for National Policy Research suggesting the company allocate 1% of its total assets to Bitcoin as an inflation hedge.
At the annual meeting, MicroStrategy founder Michael Saylor delivered a three-minute speech attempting to persuade Microsoft shareholders to support the proposal. Data indicates that Microsoft’s largest shareholders are institutional investors, including Vanguard and BlackRock.
Foreign media: Trump closely watches Bitcoin price, hopes BTC reaches $150,000 early in his presidency
According to Axios, U.S. President-elect Donald Trump is closely monitoring Bitcoin prices, viewing it almost like another stock market. A senior transition team source said Trump hopes Bitcoin will reach $150,000 early in his presidential term. Notably, a "60 Minutes" investigation found that cryptocurrency firms contributed one-third of direct corporate donations to Super PACs during this election cycle.
Goldman Sachs CEO: Will assess participation in Bitcoin or Ethereum markets if regulation permits
According to market news, the CEO of Goldman Sachs stated that the firm will evaluate participation in Bitcoin or Ethereum markets if regulators allow.
Fuel Labs announces launch of native token FUEL, 20% initial supply allocated to community
Fuel Labs announced it will launch the native token FUEL for the Fuel network within the next two weeks. The initial total supply will be 10 billion tokens, with 20% allocated to the community and over 51% reserved for community, ecosystem, and R&D purposes.
The FUEL token will secure the decentralized sequencer through a Proof-of-Stake (PoS) mechanism and introduce an economic incentive structure based on Application-Specific Sequencing to reduce user gas fees. The Fuel network will expand its community via Phase II of the Fuel Points program and partnerships with platforms such as Legion, Impossible Finance, and Bitget.
Bernstein: Quantum computing threat to Bitcoin still decades away; recent drop mainly due to excessive leverage
According to The Block, Bernstein analyst Gautam Chhugani’s latest report notes that although Google has released its first quantum chip, Willow, its 105-qubit processing power remains far short of the millions of qubits required to crack Bitcoin’s ECDSA and SHA-256 algorithms.
Bitcoin’s recent drop below $100,000 was primarily driven by excessive leverage, not quantum computing threats. The firm maintains its 12-month Bitcoin price target of $200,000 and recommends investors “buy the dip” in the $95,000–$98,000 range. The report emphasizes strong ETF demand and continued accumulation by institutions such as MicroStrategy, MARA, and Riot, supporting a positive long-term outlook.
Previously, Google CEO Sundar Pichai unveiled the new quantum computing chip Willow. Crypto venture expert Adam Cochran commented that this breakthrough reduces the time available for the crypto industry to respond to quantum risks to under 10 years.
Binance delists inscriptions marketplace, retains only asset viewing and transfer functions
Binance Customer Support stated in response to user inquiries that Binance Wallet has removed the inscriptions trading market feature, meaning users can no longer buy or sell inscriptions assets on Binance. Users may still view and manage their inscriptions assets through the Binance Inscriptions Center and transfer inscriptions to other wallets. The “Inscriptions” entry can be accessed under the “View More” option on the Web3 page. Binance previously announced the launch of its new wallet version.
Decentralized exchange Bluefin may launch BLUE token on December 11
Sui-based decentralized perpetual contracts protocol Bluefin posted a video on X indicating a potential launch of its BLUE token on December 11, 2024.
Previously, Sui-based decentralized exchange Bluefin launched an airdrop eligibility inquiry portal, planning to distribute 17% of BLUE tokens via airdrop.
Sonic Labs: Mainnet to officially launch next week
Layer1 blockchain project Sonic Labs (formerly Fantom) announced that its mainnet will go live next week.
Market Data
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