Metaplanet Begins Trading on OTCQX Market in the U.S.

Japanese company Metaplanet has started trading on the OTCQX market in the United States as of December 19. This marks a significant milestone for the company, which is Asia's first publicly traded Bitcoin Treasury firm.
Simon Gerovich, CEO of Metaplanet, emphasized the importance of this move, stating, "This is an important step to broaden access for global investors to join our journey as Asia's first Bitcoin Treasury company."

Nearly $700 Million Liquidated from Crypto Market in the Last 24 Hours! 👀

The cryptocurrency market has seen nearly $700 million in liquidations over the past 24 hours. This wave of liquidations has affected 176,426 traders, with the largest single liquidation order occurring on OKX, valued at $9.45 million.
The market's volatility continues to take its toll, with significant losses reported across various cryptocurrencies. The sudden drop in prices has led to a cascade of liquidations, highlighting the inherent risks and unpredictability of the crypto market.

World Liberty Financial Swaps $10.4 Million in cbBTC for WBTC!

World Liberty Financial (WLFI), backed by President-elect Donald Trump, has exchanged its entire holding of 102.9 cbBTC, valued at $10.4 million, for 103.15 WBTC. This transaction took place just four hours ago, signaling a strategic shift in the project's wrapped Bitcoin holdings.
The decision to swap cbBTC for WBTC aligns WLFI with a more decentralized governance structure, distancing itself from Coinbase's wrapped Bitcoin solution. This move comes amid ongoing controversies and legal battles surrounding Coinbase's delisting of WBTC.

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Trump-Backed World Liberty Financial and Ethena Labs Announce Collaboration.

In a significant development for the decentralized finance (DeFi) sector, World Liberty Financial (WLFI), backed by President-elect Donald Trump, has announced a strategic partnership with Ethena Labs. This collaboration aims to integrate Ethena's yield-bearing token, sUSDe, into WLFI's Aave instance, marking the beginning of a long-term partnership.
The integration of sUSDe as a collateral asset is expected to enhance liquidity and utilization rates within the WLFI protocol. This move will allow users to deposit USDe and receive rewards in both sUSDe and WLFI tokens, thereby increasing the attractiveness of the platform for investors.
The proposal for this integration is currently under review by WLFI's governance. If approved, it will mark a significant step forward in democratizing access to financial tools and enhancing user experiences globally. This partnership also follows WLFI's recent acquisition of $600,000 worth of ENA tokens, further indicating its commitment to the Ethena network.

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Cango Inc. Quietly Becomes One of the Largest Bitcoin Miners.

Cango Inc., a Chinese automotive transaction platform listed on the NYSE, has quietly transformed into one of the largest Bitcoin miners. The company recently acquired 32 exahashes per second (EH/s) of Antminer ASICs for $256 million and plans to add an additional 18 EH/s, bringing its total to 50 EH/s. This move positions Cango on par with Marathon Digital Holdings (MARA), the largest Bitcoin miner in the United States.

Solana Sets New Record with 66.9 Million Daily Transactions as PENGU Token Debuts.

Solana has set a new record with 66.9 million daily transactions, coinciding with the debut of the PENGU token by the Pudgy Penguins NFT project. This milestone, the highest since Solana's inception in 2020, underscores the blockchain's growing popularity and efficiency.
The surge in transactions was driven by the launch of the PENGU token, which saw significant interest from the community. The Pudgy Penguins project reported over 100,000 claims in the first hour of the airdrop, with more than 4.7 million website views. The PENGU token debuted with a market cap of $2.3 billion, although it has since seen some fluctuations.
Solana's network activity on this day surpassed the combined transactions of all other major blockchains, highlighting its dominance in the space. The blockchain also led in daily decentralized exchange trading volume and daily active addresses, further cementing its position as a leading platform for Web3 applications.
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Brazilian Real Hits New Lows Against the Dollar, Reaching 6.30 at Times!

 The Brazilian real continues to plummet against the U.S. dollar, hitting new record lows each day. Today, the real briefly touched 6.30 per dollar, a level not seen in recent history. This relentless decline is causing widespread concern as the currency seems to be disintegrating before our eyes.
The ongoing devaluation reflects deep-seated issues within Brazil's economy, including persistent fiscal uncertainties and a lack of confidence in the government's ability to manage public finances. Investors are increasingly skeptical about the fiscal policies of President Lula's administration, further exacerbating the currency's downward spiral.
Despite efforts by the Central Bank to stabilize the real through interventions, the currency continues to weaken, raising fears of inflation and economic instability. The situation is dire, with the real losing significant value and eroding the purchasing power of Brazilian consumers.
For more details Macau Business.

Deutsche Bank Launches Its Own Layer 2 Network Using ZKsync Technology!

In a significant move for the financial industry, Deutsche Bank, Germany's largest lender, is launching its own Layer 2 blockchain network based on ZKsync technology. This initiative, part of Project Dama 2, aims to enhance compliance and efficiency in regulated finance by leveraging the capabilities of Ethereum's Layer 2 solutions.
The new Layer 2 network will address key regulatory challenges associated with using public blockchains in the financial sector. By integrating ZKsync technology, Deutsche Bank aims to improve transaction efficiency and provide robust regulatory safeguards. This approach will allow the bank to create a curated list of validators and grant regulators special oversight, minimizing risks such as interacting with sanctioned entities.
Project Dama 2 is part of the Monetary Authority of Singapore's Project Guardian, which brings together 24 financial institutions to explore blockchain-based asset tokenization. The initiative is designed to align blockchain transparency with financial compliance requirements, potentially prompting other institutions to adopt similar solutions.
Deutsche Bank plans to launch a minimum viable product (MVP) for its Layer 2 network in 2025, pending regulatory approval. This development marks a significant step towards integrating blockchain technology into traditional financial systems while maintaining compliance and security standards.

Brazilian Real Becomes the Most Devalued Currency of 2024!

In a challenging year for the Brazilian economy, the Brazilian real has emerged as the most devalued currency of 2024. The real depreciated by 21.52% against the U.S. dollar, reaching levels not seen since the pandemic crisis of 2020. This significant devaluation reflects a combination of persistent fiscal uncertainties, political instability, and external economic pressures.
Throughout 2024, the Brazilian real faced one of its worst performances in the past 25 years. The currency's decline was driven by market skepticism regarding the government's fiscal policies and the overall economic outlook. Despite efforts by the Central Bank to stabilize the currency through interventions, the real continued to weaken, exacerbating inflationary pressures and complicating monetary policy.
The devaluation of the real has had widespread implications for the Brazilian economy, affecting everything from import costs to inflation rates. As the currency weakened, the cost of imported goods rose, contributing to higher consumer prices and eroding purchasing power. This situation has posed significant challenges for policymakers and highlighted the need for comprehensive economic reforms to restore confidence and stability.
Additionally, the market's lack of confidence in President Lula's government has further exacerbated the currency's decline. Investors remain wary of the administration's ability to implement effective economic policies, leading to increased volatility and uncertainty in the financial markets.

Wormhole, EigenLayer, and NEAR-Focused Nuffle Labs Partner to Expand Restaking Beyond Ethereum!

In a significant development for the cryptocurrency industry, Wormhole, EigenLayer, and NEAR-focused Nuffle Labs have announced a partnership to extend restaking functionality beyond the Ethereum ecosystem. This collaboration aims to leverage Wormhole's message-passing architecture and Nuffle's NUFF protocol to enable native multichain restaking without the need for asset bridging.
The new solution will allow users to stake assets directly from any Layer 1 or Layer 2 blockchain, enhancing capital efficiency and reducing liquidity fragmentation. By integrating EigenLayer's staking infrastructure, the partnership seeks to create a unified liquidity pool across multiple networks, providing seamless access to EigenLayer's ecosystem of Actively Validated Services (AVSs).
Nuffle Labs, a spin-off venture from the NEAR Foundation, is developing modular blockchain technology to scale the ecosystem, including the NEAR Data Availability Layer and NEAR Fast Finality Layer. This partnership will make all tokens provided through Nuffle's infrastructure available to AVSs built on EigenLayer's shared security framework.
This initiative marks a new chapter for multichain staking, simplifying the user experience while maintaining robust security. The testnet for this integration is scheduled to launch in the coming months, paving the way for truly native multichain staking capabilities.

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🔥🔥🔥 Federal Reserve Cuts Interest Rates: Positive Impact on Bitcoin and the Crypto Market!🔥🔥🔥

The Federal Reserve's recent decision to cut interest rates by 25 basis points, lowering the benchmark rate to a target range of 4.25% to 4.50%, is expected to positively impact Bitcoin and the broader cryptocurrency market. This move aims to stimulate economic growth and ease financial conditions. Lower interest rates reduce returns on traditional savings and fixed-income investments, prompting investors to seek higher returns in alternative assets like Bitcoin and other cryptocurrencies. This shift can lead to increased demand and higher prices for digital assets. Additionally, reduced borrowing costs make it more attractive for both individual and institutional investors to take out loans to invest in cryptocurrencies, enhancing liquidity and trading volume in the crypto market. A weaker U.S. dollar, resulting from lower interest rates, makes Bitcoin and other cryptocurrencies more appealing as a store of value, with investors turning to digital assets to hedge against potential currency devaluation. The rate cut also signals a more accommodative monetary policy, boosting investor confidence and market sentiment, which often translates into increased buying activity and higher asset prices. As traditional financial markets become less attractive, more investors may explore the potential of cryptocurrencies, driving innovation and growth within the crypto ecosystem. Historically, rate cuts have been associated with positive performance in the cryptocurrency market, as seen after the rate cuts in March 2020, when Bitcoin's price increased by over 500% in the subsequent year.

Bitcoin Hashrate Reaches All-Time High, Boosting Network Security!💪💪💪

It's not just the price of Bitcoin that has hit an all-time high. The security of the Bitcoin network has also never been stronger, with the network's computational power reaching unprecedented levels. As of October 21, 2024, the Bitcoin hashrate has soared to a new all-time high of 769.8 exahashes per second (EH/s).
The hashrate, which measures the total computational power used to secure the Bitcoin network, has been steadily increasing since 2021. This rise is largely attributed to advancements in mining hardware, such as application-specific integrated circuits (ASICs), which have significantly boosted the efficiency and power of Bitcoin mining operations.
A higher hashrate means greater security for the Bitcoin network, as it becomes more resistant to attacks and manipulation. This increased security is crucial for maintaining the integrity and trustworthiness of the world's first blockchain network.
Despite the rising costs associated with mining Bitcoin, the network's growing hashrate underscores the strong confidence in Bitcoin's long-term sustainability. Leading mining companies are continuously expanding their infrastructure and adopting new technologies to keep up with the increasing demand for computational power.
By: Cointelegraph

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Bitcoin ETFs Surpass Gold ETFs in Assets Under Management in the US.

In a historic milestone, Bitcoin exchange-traded funds (ETFs) in the United States have surpassed gold ETFs in assets under management (AUM). This achievement is particularly remarkable given that gold ETFs have had a 20-year head start in the market.
As of December 16, 2024, Bitcoin ETFs collectively hold over $129 billion in net assets, surpassing the AUM of gold ETFs. This surge in Bitcoin ETF assets reflects the growing institutional adoption and the increasing recognition of Bitcoin as a legitimate investment asset.
The rise of Bitcoin ETFs has been driven by significant inflows from institutional investors, who are increasingly viewing Bitcoin as a digital alternative to gold. The approval of multiple Bitcoin spot ETFs has made it easier for investors to gain exposure to Bitcoin, further boosting demand.
This development underscores the shifting dynamics in the investment landscape, with digital assets like Bitcoin gaining prominence over traditional assets such as gold. Analysts predict that this trend will continue, with Bitcoin ETFs expected to attract even more capital in the coming years.
For more details: Cointelegraph

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BlackRock Launches Educational Video on Bitcoin!

BlackRock, the world's largest asset manager with $11.5 trillion in assets, has taken a significant step towards embracing cryptocurrencies by releasing an educational video about Bitcoin. This three-minute video aims to explain the fundamentals of Bitcoin, highlighting its potential as a digital asset and its role in the financial ecosystem.
The video comes shortly after BlackRock advised investors to consider allocating up to 2% of their portfolios to Bitcoin, signaling a growing acceptance of cryptocurrencies within traditional financial portfolios. This move is part of BlackRock's broader strategy to integrate digital assets into mainstream investment strategies.
Bitcoin has seen a substantial increase in value this year, with a rise of over 150%. BlackRock's involvement in the cryptocurrency market, including its ownership of the iShares Bitcoin Trust ETF, further underscores its commitment to the digital currency space.

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🔥🔥🔥Ohio Representative Introduces Bill to Create Strategic Bitcoin Reserve! 🔥🔥🔥
Ohio State Representative Derek Merrin has introduced a groundbreaking bill aimed at establishing a Strategic Bitcoin Reserve for the state. This legislative move is part of a broader trend among states exploring the integration of cryptocurrency into their financial frameworks.
The proposed reserve would be managed within the state's treasury and is designed to leverage Bitcoin's potential as a hedge against inflation and a store of value. By creating a strategic reserve, Ohio aims to position itself at the forefront of financial innovation and digital asset adoption.
Representative Merrin emphasized the importance of this initiative, stating that it would not only enhance the state's financial resilience but also attract tech-savvy businesses and investors to Ohio. The bill outlines a plan for the state to gradually acquire Bitcoin, ensuring secure storage and management of the digital asset.
This move aligns with similar efforts in other states and countries, reflecting a growing recognition of Bitcoin's role in the future of finance. The establishment of a Strategic Bitcoin Reserve could serve as a model for other states looking to embrace digital assets and strengthen their financial systems.

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El Salvador Continues Daily Bitcoin Purchases Regardless of Price!
El Salvador remains steadfast in its commitment to Bitcoin, continuing to purchase one Bitcoin every day, regardless of the cryptocurrency's price. This initiative, led by President Nayib Bukele, underscores the nation's unwavering belief in the long-term potential of Bitcoin.
Since adopting Bitcoin as legal tender in September 2021, El Salvador has been at the forefront of cryptocurrency adoption. The daily Bitcoin purchase strategy, which began in November 2022, aims to accumulate a significant reserve of the digital asset. President Bukele has stated that the country will continue this practice until Bitcoin becomes too expensive to acquire with fiat currencies.
This consistent investment approach highlights El Salvador's dedication to integrating Bitcoin into its economy and financial system. The nation's strategy not only supports the growth of its Bitcoin reserves but also reinforces its position as a pioneer in the global cryptocurrency landscape.

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FTX to Begin Recovery Payments in January 2025 with Kraken and BitGo's Assistance.

FTX has announced that it will start distributing recovery payments to its users in January 2025. The distribution process will be facilitated by Kraken and BitGo, two well-known crypto firms. This move comes as part of FTX's approved reorganization plan, which aims to reimburse 98% of its users, with a focus on prioritizing customers with smaller claims.
The reorganization plan, which received approval from a Delaware judge in October, is set to take effect on January 3, 2025. The first round of payments is expected to be distributed within 60 days of this date. Customers with claims of $50,000 or less will be among the first to receive their repayments, representing more than 90% of all creditors involved in the case.
FTX's CEO, John J. Ray III, highlighted the significance of this milestone, stating that the plan's effectiveness and the start of distributions reflect the outstanding success of the recovery efforts. To qualify for payments, customers must complete KYC verification, submit tax forms, and onboard with Kraken or BitGo through the FTX claims portal by January 3.

Senator Cynthia Lummis Declares 2025 as the Year of Bitcoin and Digital Assets!

In a bold statement, U.S. Senator Cynthia Lummis has declared that 2025 will be the year of Bitcoin and digital assets. Known for her strong advocacy of cryptocurrencies, Lummis emphasized the transformative potential of Bitcoin and other digital assets in reshaping the financial landscape.
Lummis highlighted several key factors driving this prediction, including increasing institutional adoption, favorable regulatory developments, and the growing recognition of Bitcoin as a legitimate investment. She believes that these elements will converge to make 2025 a pivotal year for the cryptocurrency market.
The senator's remarks come at a time when Bitcoin has already seen significant milestones, including surpassing $100,000 and gaining endorsements from major financial institutions. Lummis's vision for 2025 underscores her commitment to fostering a crypto-friendly environment in the United States and promoting the adoption of digital assets.
For more details: CoinTelegraph

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