Compiled by: Fairy, ChainCatcher
Key Highlights
- Bitget announces the destruction of $50 billion worth of BGB, representing 40% of its total supply.
- Solana co-founder accused of hiding millions in staking rewards during divorce proceedings.
- Binance Alpha lists arc, WHY, APU, HAPPY, and FWOG as part of its 8th token batch.
- LayerZero proposal to enable protocol fees fails due to insufficient votes.
- Cambodia approves crypto services for banks and payment institutions, excluding Bitcoin.
Major Events of the Past 24 Hours
Cambodia Approves Crypto Services for Banks—Excludes Bitcoin
The National Bank of Cambodia (NBC) has authorized banks and payment institutions to offer services involving stablecoins and secured cryptocurrencies. This marks NBC’s first approval of such services, effective December 26. However, Bitcoin remains banned.
Key Regulations:
- Institutions must obtain NBC approval for crypto-related activities (exchange, transfers, custody).
- Services must comply with strict oversight to prevent misuse.
Bitget Burns 40% of BGB Supply—Worth Over $50 Billion
Bitget’s updated BGB Whitepaper introduces a buyback-and-burn mechanism:
- 8 billion BGB (40% of supply) destroyed—valued at $50+ billion.
- Remaining supply: 12 billion BGB (fully circulating).
- Starting in 2025, Bitget will use 20% of quarterly profits to repurchase and burn BGB.
Future Utility:
- Integration with DeFi, PayFi, and on-chain applications.
- CEO Gracy Chen: "This burn reflects our long-term commitment to ecosystem growth."
Solana Co-Founder Accused of Hiding Staking Rewards in Divorce
Stephen Akridge allegedly concealed millions in SOL staking rewards from ex-wife Elisa Rossi, violating their divorce agreement. Rossi claims Akridge withheld her share, costing her "millions."
Legal Action:
- Rossi filed a lawsuit in California to recover the rewards.
- Dispute centers on transparency in crypto asset division.
Binance Alpha Lists 5 New Tokens
The 8th batch of Binance Alpha tokens includes:
- arc, WHY, APU, HAPPY, FWOG.
👉 Explore Binance Alpha’s latest projects
LayerZero Fee Proposal Rejected
A vote to enable protocol fees failed due to low participation. Next vote scheduled in 6 months.
Deep-Dive Articles
Hyperliquid’s Rising Ecosystem: Top Projects to Watch
Hyperliquid (FDV: $270B) has emerged as a 2025 bull market dark horse. Key ecosystem projects:
- Decentralized perpetuals.
- HYPE token (peaked at **$35** from $3.9 launch).
Did 2024 Crypto Predictions Hold Up?
A retrospective on Binance Labs, a16z, and Pantera’s 2024 forecasts:
- ✅ Correct: ETF inflows drove Bitcoin’s rally.
- ❌ Missed: Regulatory delays in DeFi adoption.
Crypto + AI: 2024’s Breakout Trend
From decentralized GPU to AI Agents, crypto-AI surged 400% in market cap. Top narratives:
- Infrastructure: GPU leasing, data markets.
- Applications: AI-driven DeFi agents.
FAQ
Q: Why did Bitget burn BGB?
A: To reduce supply, enhance tokenomics, and align with long-term growth.
Q: Can Cambodia’s banks trade Bitcoin now?
A: No—only approved stablecoins and secured cryptos.
Q: What’s next for LayerZero fees?
A: Another vote in mid-2025.