Bitfinity Weekly: So Long, 2024!

Welcome to Issue #138 of Bitfinity Weekly for our #BITFINIANS community. If this newsletter was forwarded to you, sign up here.

What's in Today's Email?

• Bitcoin Bytes
• Global Crypto News
• In the IC
• Tweet of the Week
• Meme Time
• A Matter of Opinion

Bitcoin Bytes

Recursing Writing: Ord v0.22.1 was released on Monday, introducing new features to the ordinals code, such as database optimizations, rune burning, recursive endpoints, and support for testnet4. Exciting new crossover methods may be on the horizon soon, as a new recursive endpoint now enables crossovers between sats, inscriptions and runes.

Evergreen Optimism: Despite the recent market downturn, MicroStrategy announced this week that it has acquired more Bitcoin, bringing up their Bitcoin purchases this quarter to over 113,000 Bitcoin. MicroStrategy's company treasury now contains over 444,000 Bitcoin.

Freedom to Transact: Russia's Finance Minister said on Wednesday that recent legislative changes have allowed Russian companies to use Bitcoin to make international payments. Sanctions and local regulatory scrutiny have made crypto an attractive alternative to traditional bank payments.

Global Crypto News

HyperVigilence: On-chain perpetuals exchange, HyperLiquid, experienced record outflows amid concerns that North Korean hackers might be probing the platform. Suspected addresses have reportedly incurred losses while potentially testing the exchange's vulnerabilities. HyperLiquid, which commands over 50% of on-chain perpetuals trading volume, has not confirmed any security breaches or vulnerabilities.

On the Grid: Web3 startup company The Grid gave more details about their partnership with Solana. The Grid is aiming to serve as a meta standard to help data platforms connect to blockchain networks more efficiently. Solana's various ecosystem projects and metadata have already been indexed, though not further integrated.

All-American Crypto: Incoming American President Donald Trump has selected new crypto advisors for his administration. Bo Hines, a former Republican House candidate, will serve as the Executive Director of the Presidential Council of Advisers for Digital Assets. Hines will be working with David Sacks to "foster innovation" in the digital assets space, integrating both crypto and AI together.

In the IC

International Hubs: The DFINITY Foundation hosted an end-of-year global town hall for eight ICP HUBs, which attracted over 2 million total listeners. The event highlighted achievements from international hubs around the world, showcasing the global ICP community.

AI(CP): CoinGecko, a popular cryptocurrency data aggregator, relisted the $ICP token under its AI category. The Internet Computer blockchain, while it still has a developing DeFi ecosystem, has lately been an attractive choice for AI-aligned builders.

Don't Miss!: Holders of the $MOTOKO coin on ICP must swap their pre-SNS token to the SNS version by December 31st. The fair launch token was available as a free claim for all Motoko Ghost NFT holders; Motoko Ghosts were originally distributed by the DFINITY Foundation in celebration of their 2nd Milestone in 2021.

Tweet of the Week

Meme Time

A Matter of Opinion

Recent crypto-related appointments by President Elect Donald Trump signal a significant pivot towards embracing digital assets in 2025. Dare we say... we feel hopeful about the future state of crypto?

Bo Hines, a former congressional candidate who has received backing from various crypto political action committees, has been chosen to lead Trump's newly-formed Digital Asset Policy Council. The creation of such a council indicates a clear intention by the Trump administration to foster an environment where blockchain tech can thrive, potentially reshaping the regulatory framework around cryptocurrencies and NFTs. Furthermore Hines, who is 29, is certainly at an age where the technology around crypto (and its culture) can be more intuitively understood than many of his older Washington colleagues.

Stephen Miran, an economist who served in the first Trump administration, will lead the Council of Economic Advisers. Given his past vocal stance against the Federal Reserve, there's certainly anticipation that he will advocate for a more laissez-faire approach to regulating digital currencies.

Although AI and crypto are in their own sectors, there's expectations and nascent precedents indicating the two fields will collide in a meaningful way soon. And it seems both industries may have an ally in Sriram Krishnan. Krishnan, a venture capitalist with ties to tech giants like Elon Musk, will oversee AI policy from the White House Office of Science and Technology Policy.

While Krishnan's role is more directly tied to AI, the interconnectivity between AI and blockchain technologies means his decisions could have indirect but profound effects on the crypto and NFT markets. After all, AI is increasingly being used to enhance blockchain efficiency, security, and the functionality of NFTs.

Given the myriad of speculative discussions this week on X about Hines, Miran and Krishnan, it's apparent that the international crypto community is watching closely. After all, Trump's advisory picks could pave the way for a new era of digital finance not only in America, but on a global level as an exemplary leader in how government should treat digital assets.

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