Crypto Morning Brief: Positive inflation data, Uniswap plans to burn 100 million UNI tokens and activate the fee switch

Author: TechFlow

Yesterday's Market Dynamics

U.S. Releases Key Economic Data

According to Golden Ten Data, for the week ending December 13, initial jobless claims in the U.S. were 224,000, with an expected 225,000.

According to Golden Ten Data, the U.S. November unadjusted CPI year-on-year was 2.7%, with an expected 3.1%.

Hassett: The Latest CPI Report Is Surprisingly Good, Fed Has Ample Room for Rate Cuts

According to Golden Ten Data, on Thursday, White House National Economic Council Director Hassett welcomed the November CPI report, stating that the U.S. economy is showing high growth and declining inflation. He said: "I'm not saying we should declare victory on prices, but this is a surprisingly good CPI report." Hassett noted that wage growth is outpacing price increases, U.S. taxpayers will see significant tax refunds next year, and the government will help lower mortgage rates. He stated: "The Fed has ample room for rate cuts." Hassett is a leading candidate to succeed Powell as the next Fed chair. He also said the Fed should be more transparent in the future. "I think the Fed must double its transparency. No matter who leads the Fed, all the cards should be on the table so we can figure out what's really happening at that institution."

U.S. SEC Issues Regulatory FAQ on Crypto Assets and Distributed Ledger Technology

According to the official website, the U.S. SEC Division of Trading and Markets has released a FAQ regarding activities involving crypto assets and distributed ledger technology (DLT), aiming to provide compliance guidance for market participants. The content covers the following core areas:

1. Broker-Dealer Responsibilities: Non-securities crypto assets are not subject to Rule 15c3-3 of the Securities Exchange Act, but if they are "crypto asset securities," brokers can establish "control" under this rule to meet compliance requirements. The SEC does not object to non-paper form assets.

2. Customer Asset Protection: If a crypto asset is not a registered product under the Securities Act, SIPC (Securities Investor Protection Corporation) will not provide protection. The SEC recommends treating non-securities crypto assets as "financial assets" under Article 8 of the UCC and placing them in "securities accounts" to enhance the independence of customer assets in the event of clearing bankruptcy.

3. Dual Asset Trading Pairs: National Securities Exchanges (NSE) and Alternative Trading Systems (ATS) can offer paired trading of "crypto securities/non-securities assets," provided they meet regulatory requirements and disclose relevant information in detail in Form ATS or ATS-N.

4. Transfer Agents and DLT: If a transfer agent provides securities transfer services for crypto asset issuers and the assets are registered securities under Section 12, registration with the SEC is required. The SEC does not object to using blockchain as the main ledger, provided all federal record-keeping and regulatory requirements are met.

5. Clearing, Settlement, and ETP: Registered brokers operating ATSs may clear customer trades within their account ledgers, and the SEC does not require registration as a clearing agency. For ETPs referencing crypto assets, the SEC does not object to following the 2006 no-action letter for commodity ETPs.

Bitwise Submits S-1 to U.S. SEC, Plans to Launch Spot Sui ETF

According to official documents, Bitwise has submitted Form S-1 to the U.S. SEC, planning to launch the spot Bitwise Sui ETF, which aims to track the value of Sui held by the Trust (net of fees). The Trust's Sui will be custodied by Coinbase Custody, and there are plans to stake part of the assets.

Tether CEO: A Pear Operating System Will Eventually Be Launched

Stablecoin company Tether announced yesterday the launch of a peer-to-peer (P2P) password manager, PearPass, designed to eliminate the risk of users' encrypted information being leaked to the cloud. The company's CEO, Paolo Ardoino, shared a related community analysis article on X and stated: "Eventually, a Pear operating system (Pear OS) will be launched."

Uniswap Founder: Final Governance Vote on Unification Proposal Submitted, Plans to Burn 100 Million UNI Tokens and Enable Fee Switch

According to Uniswap founder Hayden Adams, the Unification proposal has been submitted for a final governance vote. Voting will begin at 10:30 PM EST on December 19 and end on December 25.

If the proposal passes, after a two-day timelock, the following actions will be executed: burn 100 million UNI tokens; activate the fee switch for v2 and v3 versions on the mainnet, starting the burning of UNI tokens, including Unichain fees; Uniswap Labs will maintain alignment with Uniswap governance through a contract protocol, which is legally binding under Wyoming DUNA law.

Hong Kong Economic Times: Standard Chartered Hong Kong Launches Tokenized Deposit Service

According to the Hong Kong Economic Times, Standard Chartered Bank (Hong Kong) and Ant International, under the Hong Kong Monetary Authority's Distributed Ledger Technology Regulatory Sandbox and the Ensemble project framework, have tokenized Ant International's HKD, RMB, and USD accounts through Ant International's blockchain treasury management platform "Whale Platform."

According to the report, this tokenization solution was jointly developed by both parties, allowing Ant International business entities to adopt a new treasury management model, accelerating the transition to a new treasury management approach, and enabling 24/7 real-time allocation of HKD, RMB, and USD funds.

Mahesh Kini, Global Head of Cash Management at Standard Chartered, stated that as enterprises increasingly rely on instant liquidity, market demand for real-time and 24/7 treasury management is growing rapidly.

Forward Industries Announces Its Tokenized Stock Is Live on Solana Blockchain

According to Businesswire, Nasdaq-listed Solana treasury company Forward Industries announced that its SEC-registered stock is now live on the Solana blockchain via the Superstate platform. Eligible investors can also use Forward Industries' tokenized stock as collateral to borrow stablecoins, thus maintaining exposure to the underlying equity while gaining on-chain liquidity.

NYSE Parent Intercontinental Exchange Plans to Invest in Crypto Payments Company MoonPay

According to Bloomberg, Intercontinental Exchange Inc., the parent company of the New York Stock Exchange, is in talks to invest in crypto payments company MoonPay Inc. Sources revealed that MoonPay is about to complete a new round of financing, targeting a valuation of around $5 billion. This investment will be part of that round.

Public Company VivoPower Partners with Korea's Lean Ventures to Acquire Ripple Equity

According to CoinDesk, Nasdaq-listed VivoPower (VVPR), through its digital asset division Vivo Federation, has partnered with Korean asset management firm Lean Ventures to raise $300 million to acquire equity in Ripple Labs, serving Korean institutions and qualified retail investors.

Based on the current XRP price, this investment will indirectly gain exposure to about 450 million XRP tokens, valued at approximately $900 million. VivoPower has received approval from Ripple to purchase the first batch of preferred shares and is negotiating additional acquisitions with existing institutional holders.

Solana On-Chain DePIN Project Fuse Energy Completes $70 Million Series B Financing, Led by Lowercarbon and Balderton

According to SolanaFloor, Solana-based DePIN project Fuse Energy announced the completion of a $70 million Series B financing round, led by Lowercarbon Capital and Balderton Capital, bringing the company's valuation to $5 billion.

Market Updates

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