Must-watch next week|CPI data may overturn expectations of interest rate cuts; Usual plans to activate the income switch | Bee Network
Odaily Planet Daily News: Coinbase Assets published a statement on X that the Celo L1 blockchain (Coinbase code: CGLD) will migrate to Celo L2 on January 16, 2025.
Coinbase will not support the migration, and customers must withdraw CGLD from Coinbase before January 13, 2025 to prevent the funds from becoming unavailable.
After the hard fork is executed, the Celo L1 network will stop generating blocks and customers will no longer be able to send or receive assets on the Celo L1 network. All funds remaining on Coinbase will be unavailable.
Odaily Planet Daily News: RWA stablecoin issuer Usual announced on the X platform that it has realized that its pledged stablecoin USD 0++ has caused a huge reaction from the community due to its sharp depegging from $1, so it will launch a series of measures to address user concerns and stabilize the ecosystem.
It is reported that the Revenue Switch function is scheduled to be launched on January 13, allowing Usual Protocol to share its revenue from real-world assets and protocol operations with the community. The team expects monthly revenue of approximately US$5 million, an annual return of more than 50% under current conditions, and these distributions will be made weekly to consolidate the actual value of USUAL, balance its economic model and the revenue generated by the protocol. (Note: Usuals revenue switch function will be officially enabled when more than 50% of USUAL tokens are staked as USUALx. If the requirements are not met, it will be automatically activated on February 1, 2025. Once enabled: 100% of the revenue (up to US$5 million per month) will flow to USUALx stakers in the form of USD 0.)
In addition, the Usual Protocol team also stated that it will launch the 1:1 early unstaking function next week, allowing users to redeem USD 0++ at an exchange rate of 1 USD, but requiring them to give up part of their accumulated rewards as a penalty.
January 14 Shiba Inu Ecosystem Token TREAT will be launched on January 14Odaily Planet Daily News According to official news, the शीबा इनु ecological token TREAT will be launched on January 14. Shiba Inus main developer Shytoshi Kusama believes that the token is a key tool to achieve complete decentralization of the Shiba Inu ecosystem.
According to the introduction, the TREAT token is a utility and governance token for its new privacy-focused Layer 3 blockchain, designed to unlock advanced features of the network state operating system. More information about the asset will be announced soon. Kusamas annual plan shows that it will talk about TREAT in its weekly podcast on Tuesday. Developers are expected to discuss the value of the token and how it fits into the larger Shiba Inu ecosystem.
January 15 The US will release the December CPI data at 21:30 on January 15.Odaily Planet Daily News: At 21:30 Beijing time on January 15 (Wednesday), the United States will release the December CPI data, which may have a disruptive impact on expectations of future interest rate cuts.
SEC v. Ripple Case Update: SECs litigation brief must be filed by January 15, 2025
Odaily Planet Daily reported that former US federal prosecutor James K. Filan shared the latest developments of the US SECd v. Ripple case on the X platform. He stated that the Second Circuit Court of Appeals has issued an order requiring the SECs litigation brief to be submitted before January 15, 2025.
HECO Network will be offline on January 15, 2025 and some HRC 20 assets will be cleared
Odaily Planet Daily reported that according to official news, HECO Network announced that it will be offline on January 15, 2025, Beijing time, and will liquidate some HRC 20 assets, namely HRC 20 ETH, HRC 20 TUSD, HRC 20 LINK, HRC 20 USDC, HRC 20 UNI, HRC 20 SHIB, HRC 20 HBTC and HRC 20 USDT.
HECO Network reminds users who hold these HRC 20 assets to visit the official website of HecoDAO before January 10, 2025 and transfer the relevant HRC 20 assets to the designated address. The transferred assets will be calculated based on the currency price on November 10, 2024, and each 1 USDT equivalent asset will be converted into 1 point, and the points earned will be bound to the wallet address in the users HECO account.
It is planned to complete all points redemption and accounting by January 10, 2025, and convert confirmed points into HTX, 1 point ≤ 200,000 HTX. The HTX obtained will be distributed evenly in 12 installments starting from January 15, 2025. The HTX claiming behavior will be bound to the TRON network address provided when redeeming points. The specific claiming method will be notified separately.
Ethena: Derive (DRV) will be launched on January 15, 2025
Odaily Planet Daily News: Ethena posted on the X platform that Derive (DRV) will be launched on January 15 next year, and 5% of the supply will be allocated to sENA stakers.
January 16 Scott Bessents Senate confirmation hearing for U.S. Treasury Secretary is expected to take place on January 16Odaily Planet Daily reported that according to the US political news website Politico, the Senate nomination hearing for Scott Bessent as US Treasury Secretary is expected to be held on January 16. Bitpush previously reported that Scott Bessent has a friendly stance towards क्रिप्टोcurrencies such as Bitcoin. In a previous crypto-related statement, Bessent said: I am very excited about the presidents acceptance of cryptocurrencies. I think it fits well with the Republican Party. Cryptocurrencies represent freedom, and the cryptocurrency economy will continue to exist.
Binance will delist multiple margin trading pairs on January 16, 2025
Odaily Planet Daily reported that according to the official announcement, Binance will delist the following margin trading pairs at 06:00 (UTC) on January 16, 2025: Full-position margin trading pairs: LIT/BTC, NULS/BTC, SFP/BTC; Isolated-position margin trading pairs: BEL/BTC, LIT/BTC, LSK/BTC, NULS/BTC, SFP/BTC.
The announcement pointed out that from 06:00 (UTC) on January 9, 2025, Binance will suspend the lending function of the above-mentioned isolated margin trading pairs. At 06:00 (UTC) on January 16, 2025, Binance will close users positions and automatically settle, and cancel all pending orders. Users can still trade the above-mentioned assets in other trading pairs of Binance margin trading. It is recommended that users close their positions or transfer assets from margin accounts to spot accounts before 06:00 (UTC) on January 16, 2025. (This newsletter is generated by AI assistance)
Odaily Planet Daily News According to the official announcement, Binance will support the Fantom (FTM) token swap and brand upgrade to Sonic (S). Therefore, Binance will stop trading and delist all existing FTM spot trading pairs (FTM/BTC, FTM/BNB, FTM/ETH, FTM/EUR, FTM/FDUSD, FTM/TRY, FTM/USDC and FTM/USDT) at 11:00 (Eastern Time) on January 13, 2025, and will automatically remove all pending orders. Binance will open S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC and S/USDT spot trading at 16:00 (Eastern Time) on January 16, 2025.
January 17 CFTC Enforcement Director Ian McGinley, who led the enforcement action against Binance, will leave on January 17Odaily Planet Daily News: Ian McGinley, director of enforcement at the U.S. Commodity Futures Trading Commission (CFTC), announced that he will leave on January 17. He joined the agency in February 2023 and led enforcement actions against Binance, KuCoin, Falcon Labs and other companies.
January 18Philippines Securities and Exchange Commission issues crypto-related request for comments, will accept public feedback until January 18
Odaily Planet Daily News: The Securities and अदला-बदली Commission (SEC) of the Philippines has issued a draft of the proposed SEC rules for crypto asset service providers, and will accept public feedback before January 18, 2025. The draft includes provisions on the definition of crypto asset service providers, licensing requirements, operating standards, risk management, customer funds protection, and disclosure requirements, requiring that crypto asset issuance must submit disclosure documents to the SEC at least 30 days before marketing activities or public sales.
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