1️⃣ Fed Chair Powell Says $BTC Is Like Digital Gold 🔍
At The New York Times-hosted DealBook Summit on Wednesday, Federal Reserve Chairman Jerome Powell reiterated that Bitcoin isn’t a threat to the US dollar but rather a direct competitor to gold.
Powell stated,
People use Bitcoin as a speculative asset. It’s just like gold, only it’s virtual, it’s digital. People are not using it as a form of payment or as a store of value. It’s highly volatile. It’s not a competitor for the dollar. It’s really a competitor for gold.
2️⃣ Donald Trump Picks Former SEC Commissioner Paul Atkins to Lead Agency ☄️
In a Dec. 4 post on Truth Social, President-elect Donald Trump announced that he has picked Paul Atkins, a former commissioner at the Securities and Exchange Commission (SEC), to lead the regulatory agency as its next Chairman.
Trump wrote,
Paul is a proven leader for common sense regulations. He believes in the promise of robust, innovative capital markets that are responsive to the needs of investors, and that provide capital to make our economy the best in the world. He also recognises that digital assets and other innovations are crucial to making America greater than ever before.
3️⃣ NYC Mayor Eric Adams Gloats About Bitcoin Paychecks 😄
Eric Adams, the Mayor of New York City currently facing wire fraud and conspiracy charges, reportedly mocked members of the press over his Bitcoin holdings while speaking after an event at the American LGBTQ+ Museum on Dec. 3. The report states that Mayor Adams advised people not to be “afraid of Bitcoin” before appearing to mock viewers and attendees.
He stated,
Remember y’all laughed at me when I first got my Bitcoin — who’s laughing now? Go look at my Bitcoin now. You all mock me. ‘You’re taking your first three paychecks in Bitcoin. What’s wrong with you?’ Now you wish you would have done it.
4️⃣ Bitcoin Surpasses $100,000 Milestone In Continued Crypto Optimism Following Trump’s Victory 📈
The price of BTC hit a new all-time high earlier today, surpassing the long-awaited $100,000 mark. This comes as part of a larger rally that began in the lead-up to the U.S Presidential elections. At the time of writing, BTC continues to trend upward, with an all-time high price of $103,900 on Coinmarketcap.
5️⃣ Mt. Gox Moves $2.4B in BTC 💸
Data from Arkham Intelligence shows that the defunct crypto exchange Mt. Gox moved over 24,000 BTC (worth nearly $2.5 billion) to an unknown address earlier today. Notably, the transfer comes just 12 minutes after Bitcoin crossed $100,000 and less than half an hour before Bitcoin hit a high of $104,000 on Coinbase at 3:08 am UTC.
6️⃣ Austin Federa Departs From Solana Foundation To Start New Protocol ▶️
Solana Foundation Strategy Lead Austin Federa has reportedly left the project to co-found DoubleZero - a new global base layer network geared toward managing high-performance, permissionless networks. In a Dec. 4 statement on X, Federa stated that leaving Solana after four years was one of the “hardest professional decisions I’ve had to make.” However, he also added that his new role will let him still be involved in the network “from the other side.”
He stated,
We’re building a network architecture capable of supporting tens of millions of transactions per second. We’re starting with Solana, but DoubleZero is neutral base layer infrastructure – and N1 – and a foundation for all high-performance blockchains.