Crypto Weekly 12/15/24
A weekly summary of the latest crypto news...
Crypto weekly is authored by maaria and serdave
PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.83T): 0% / +116%
- BTC ($103,139): +4% / +143%
- ETH ($3,900): -2% / +71%
- SOL ($222): -6% / +118%
- UNI ($16.93): -8% / +132%
- POL ($0.61): -13% / -37%
- Tether Mkt Cap ($140B): +2% / +53%
- USDC Mkt Cap ($42B): +2% / +72%
- BTC / ETH Dominance: 53% / 12%
THIS WEEK IN CRYPTO
- President-elect Donald Trump said he wants to create a strategic cryptocurrency reserve, expanding previous promises of a strategic Bitcoin reserve. Link.
- According to Electric Capital’s 2024 developer report, Solana was the top ecosystem for new crypto developers in 2024, beating Ethereum for the first time in 8 years. Ethereum remained the most popular overall. Link. Link. Report.
- BlackRock has recommended investors who want a multi-asset portfolio invest up to 2% into bitcoin. Their iShares Bitcoin and Ethereum trusts are the largest crypto ETFs in terms of AUM. Link.
- Google announced a new quantum computer chip with a record 105 qubits. Quantum computers can theoretically break encryption algorithms like those used to secure blockchains but would require several million qubits. Link. Link.
- Microstrategy will be added to the Nasdaq-100 on December 23rd after its stock rallied nearly 500% YTD. Microstrategy is currently the largest corporate owner of Bitcoin, holding over 2% of all Bitcoin supply. Link. Link.
- Magic Eden launched its Solana token $ME this week. Link.
- NFT project Pudgy Penguins overtook Bored Ape Yacht Club to become the second-largest NFT collection by market cap. Pudgy Penguins plans to launch a native Pengu token on Solana this month. Link.
- The Senate Banking Committee postponed a vote to re-confirm SEC Commissioner Caroline Crenshaw. If Crenshaw’s nomination isn’t voted on by the entire Senate before they adjourn on 12/20, Donald Trump would gain authority to nominate replacements for all three Democrat seats on the five-member commission. Link. Link.
- Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, said he was investing in “hard money” like bitcoin and gold due to rising global debt levels which he believes will lead to debt crises and devaluation of fiat currencies. Link.
- Microsoft shareholders rejected a proposal to add Bitcoin to the company’s balance sheet, with less than 1% of shareholders voting for the proposal. Amazon shareholders have submitted a similar proposal to its board. Link. Link.
- Coinbase Europe delisted multiplied stablecoins including USDT and PayPal USD due to lack of compliance with the new European Markets in Crypto-Assets (MiCA) regulation. Link.
- Congressman French Hill (R-Ark.) was selected to chair the House Financial Services committee. Hill currently chairs the committee's digital asset panel. Link.
- A wallet belonging to World Liberty Financial, a DeFi project associated with Donald Trump, bought $10.4 million ETH, $1.4 million AAVE and $2.2 million LINK this week. The project has yet to launch. Link.
- Ethereum ETFs have seen net inflows for a record 16 straight days. Blackrock’s Ethereum ETF has seen $1.5 billion in inflows since November 20 (it had $1.7 billion the 4 months prior). Link.
- Ripple's RLUSD stablecoin has secured final approval from the New York State Department of Financial Services, with plans to launch as soon as this month. Link.
- Bitcoin ATM giant Byte Federal said hackers stole personal data, including social security numbers and government-issued IDs, of its 58,000 customers. Link.