The Daily Index — Thursday, December 19, 2024

MARKETS & BUSINESS

TLDR Crypto

'WE'RE NOT ALLOWED TO OWN BITCOIN,' FED CHAIR POWELL SAYS IN LIGHT OF TRUMP'S STRATEGIC BITCOIN RESERVE PROMISE

Federal Reserve Chair Jerome Powell stated that the central bank is prohibited from owning Bitcoin and is not seeking legislative changes to alter this restriction. This clarification comes amid President-elect Donald Trump's proposal to establish a strategic Bitcoin reserve, a plan that has garnered support from figures like Senator Cynthia Lummis, who introduced a bill directing the U.S. Treasury to acquire one million Bitcoins over five years.

links.tldrnewsletter.com · 2 min

TLDR Crypto

SYNTHETIX LAUNCHES MULTI-COLLATERAL PERPS ON BASE AMID REVAMP

Synthetix has launched multi-collateral perpetual futures on Base, Coinbase's Layer 2 network, allowing users to trade with tokens like cbBTC and cbETH as collateral. This marks part of a broader revamp, including the debut of its own perpetuals trading app and organizational restructuring to streamline operations.

cointelegraph.com · 2 min

TLDR Crypto

KRAKEN'S INK L2 IS LIVE ON MAINNET

Months ahead of schedule, Kraken has launched its L2 built on Optimism Superchain technology. Kraken's testnet was a resounding success with millions of transactions, pressuring the company to release while interest was high. The L2 launched with various infrastructure and app partners.

threadreaderapp.com · 1 min

TLDR Crypto

AI-POWERED BASE WHITEPAPER

Eternal AI has released a plan to integrate AI into Base's smart contracts through its AI Kernel to transform traditional rule-based contracts into dynamic systems. The proposed architecture includes a decentralized network of GPU nodes operating under a novel Proof-of-Compute consensus mechanism. Potential applications include intelligent crypto wallets, autonomous oracles, and adaptive DAOs.

x.com · 15 min

TLDR Crypto

COINBASE 2025 CRYPTO MARKET OUTLOOK (2 HOUR READ)

Coinbase expects the crypto market to see transformative growth in 2025, building on institutional adoption through ETFs that have already attracted over $30.7 billion in inflows. The expansion of stablecoins, which saw 48% growth in 2024, a more friendly regulatory environment, and the potential Bitcoin Strategic Reserve, promise to make 2025 a watershed year. Major technological innovations, including Layer 2 scaling, RWA tokenization, and wallet abstraction are helping to make crypto ready for mass adoption.

coinbase.com

TLDR Crypto

BUILD YOUR OWN CRYPTO AI AGENT - THE ULTIMATE BEGINNER-FRIENDLY GUIDE

AI agents are shaking up the crypto world by trading, analyzing trends, and even launching tokens like pros. This guide dives into what AI agents are and why they're a game-changer for crypto and walks readers through building one using the Eliza toolkit - no advanced coding required.

x.com · 8 min

TLDR Crypto

STABLECOINS WILL SEE EXPLOSIVE GROWTH IN 2025 AS WORLD EMBRACES ASSET CLASS

Stablecoins are set for explosive growth in 2025 as regulatory clarity, mass adoption, and the rise of localized currency-backed options reshape the market. Key drivers include the EU's MiCA framework, growing financial institution involvement, and an expanding role for non-dollar stablecoins.

cointelegraph.com · 4 min

TLDR Crypto

THOUGHTS ON DESCI

Thought leader Tarun Chitra shares his thoughts on where genuine value in DeSci lies, acknowledging that a lot of the space is filled with scams. Projects like ResearchHub are reducing the issues with the academic industry and aligning incentives for quality research, and Stadium Science is leveraging decentralized mechanism design via prediction markets to encourage advancements. Chitra bashes projects like Pump Science for raising money and not providing outcomes.

threadreaderapp.com · 1 min

TLDR Crypto

AVARA'S LENS SECURES $31M FOR SOCIALFI-FOCUSED L2 BLOCKCHAIN

Avara's Lens has secured $31 million in funding to develop its SocialFi-focused Layer 2 blockchain, set to launch on Ethereum in early 2025.

cointelegraph.com · 2 min

TLDR Crypto

SOUTH KOREAN PROSECUTORS SEEK 6 MONTHS FOR LAWMAKER WHO ALLEGEDLY HID CRYPTO

South Korean lawmaker Kim Nam-kuk faces a proposed six-month prison sentence for allegedly concealing cryptocurrency holdings worth millions, which he failed to report as required by law.

cointelegraph.com · 2 min

TLDR Crypto

EL SALVADOR MAKES BITCOIN PAYMENTS VOLUNTARY IN $1.4B IMF LOAN DEAL

El Salvador has agreed to make Bitcoin acceptance voluntary, scale back its Chivo wallet initiative, and limit public sector involvement in Bitcoin projects as part of a $1.4 billion loan deal with the IMF.

cointelegraph.com · 2 min

TLDR Crypto

DEUTSCHE BANK TO BUILD A L2 BLOCKCHAIN ON ETHEREUM

Deutsche Bank is building an Ethereum l2 using ZKsync as part of Project Dama 2.

links.tldrnewsletter.com · 2 min