Binance KSM's funding rate has reached -1.13%, indicating a high bearish sentiment in the market

Odaily Planet Daily News: DefiLlama data shows that the total market value of stablecoins has exceeded $189 billion, currently at $189.419 billion, with a 7-day growth rate of 3.84%. In addition, the total market value of USDT is 132.472 billion US dollars, with a market share of 69.94%.

Odaily Planet Daily News: LinkedIn co-founder Reid Hoffman stated in a recent column published in the Financial Times that if Elon Musk provides legal guidance on artificial intelligence for the Trump administration, his advisory role could create serious conflicts of interest. He wrote, "Elon Musk directly owns the emerging artificial intelligence startup xAI, and he provides advice to Trump in many areas, but has serious conflicts of interest in developing federal AI policies for all American companies. Using his position to support xAI in any way, such as awarding government contracts, encouraging federal agencies to unfairly target AI companies, or implementing new regulations restricting exports, will come at the expense of American technological, economic, and cultural security and competitiveness Musk did not respond to a request for comment. Hours after publishing this column in the Financial Times, Musk responded to an X post unrelated to Hoffman's column, criticizing the poster on LinkedIn.

Odaily Planet Daily News: Nate Geraci, President of The ETF Store, said, "I believe there is a high possibility that the Solana ETF will be approved by the end of next year at the latest. The SEC may currently be in contact with the issuer regarding the product, which is clearly a positive signal Given that industry leaders such as Bitwise have already submitted applications, Alexander Blume, CEO of Two Prime Digital Assets, also agrees with this view. If they don't have a good feeling of success, they won't waste time and money doing this, "Blume said. The success and precedent of spot Bitcoin and spot Ethereum ETFs, coupled with a more cryptocurrency friendly management and regulatory environment, will lead to the launch of SOL ETFs within next year. Blume said, "Both institutional investors and retail investors can obtain cryptocurrencies through regulated traditional financial channels such as banks and exchanges, and through ETFs, which opens up previously non-existent pools of funds. It's like replacing a swimming pool hose with a fire hose, which means that potential momentum and speculative trading may have a greater impact." (The Block)

Odaily Planet Daily News: US SEC Commissioner Mark Uyeda advocated for the establishment of a safe harbor and regulatory sandbox to promote cryptocurrency innovation in an interview. Uyeda is a potential candidate for the position of SEC Chairman under the Trump administration, emphasizing the need to end Trump's so-called "cryptocurrency war" and establish clearer regulatory guidelines. Uyeda stated, "Many cryptocurrency assets are not securities, but are labeled as securities." He emphasized the importance of cooperation between Congress, the White House, and regulatory agencies to establish a comprehensive framework for the industry. When asked if he could be appointed as SEC Chairman, Uyeda replied, "This is Trump's decision He also pointed out that the next chairman needs to address regulatory challenges from multiple administrative agencies. This discussion took place after current SEC Chairman Gary Gensler announced plans to resign after Trump takes office on January 20, 2025. Other potential candidates for this position include Teresa Goody Guillen from BakerHostetler, Robert Stebbins from Willkie Farr&Gallagher, and former SEC commissioner Paul Atkins. （Crypto Briefing）

Odaily Planet Daily News: According to on chain analyst Yu Jin's monitoring, the ZKasino project team borrowed 8 million DAIs to buy 2301 ETH last night. They have borrowed a total of 19.589 million DAIs from Aave to purchase 5801 ETH, with an average price of $3377.