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Copper Technologies, a major UK crypto custody firm backed by Barclays, has pulled its application for a UK crypto license. The decision follows Copper's failure to secure a permanent registration with the UK's Financial Conduct Authority (FCA) in 2022. Under new CEO Amar Kuchinad, the company is now focusing on expanding in international markets like Switzerland, Hong Kong, and Abu Dhabi. This shift comes as the FCA reports that nearly 90% of crypto license applications in 2024 were unsuccessful, mainly due to inadequate money laundering controls.
Stablecoins are making waves in the crypto world, hitting new milestones on Ethereum's layer-2 networks. As of December 20, stablecoins on Ethereum reached $13.5 billion, contributing to a total market cap of over $205 billion. Tether (USDT), USD Coin (USDC), and USDe lead the pack.
Layer-2 networks, like Arbitrum One and Base, are seeing significant stablecoin activity, with values nearing $12 billion. This growth highlights stablecoins' increasing role in real-world applications. Experts predict continued expansion, potentially doubling the market cap to $400 billion, driven by regulatory developments like the EU's MiCA.
Layer-2 networks, like Arbitrum One and Base, are seeing significant stablecoin activity, with values nearing $12 billion. This growth highlights stablecoins' increasing role in real-world applications. Experts predict continued expansion, potentially doubling the market cap to $400 billion, driven by regulatory developments like the EU's MiCA.
**Bitcoin ETFs Experience Record Outflows**
- On December 19, Bitcoin exchange-traded funds (ETFs) saw a massive sell-off, with net outflows hitting a record $671.9 million. This marks the largest single-day outflow of the year.
- Grayscale's GBTC led the outflows, losing $208.55 million, followed by ARK Invest’s ARKB with $108.4 million in outflows.
- The sell-off coincided with Bitcoin's price drop to around $96,409 and over $1 billion being liquidated from the market within 24 hours.
- Despite these outflows, Bitcoin maintains a market dominance of 57.4%.
- Analysts suggest the downturn might be short-lived, attributing it to market unpreparedness for negative news.
- On December 19, Bitcoin exchange-traded funds (ETFs) saw a massive sell-off, with net outflows hitting a record $671.9 million. This marks the largest single-day outflow of the year.
- Grayscale's GBTC led the outflows, losing $208.55 million, followed by ARK Invest’s ARKB with $108.4 million in outflows.
- The sell-off coincided with Bitcoin's price drop to around $96,409 and over $1 billion being liquidated from the market within 24 hours.
- Despite these outflows, Bitcoin maintains a market dominance of 57.4%.
- Analysts suggest the downturn might be short-lived, attributing it to market unpreparedness for negative news.
Bitcoin's recent rollercoaster has left traders on edge as it tumbled from $96,000, shedding over $12,000 in just two days. The crypto market saw nearly $900 million in liquidations, with US Bitcoin ETFs experiencing record outflows of $679 million. Analysts like BitQuant suggest the dip isn't over, predicting further drops to the mid-$80,000s. Meanwhile, Whalemap highlights significant Bitcoin accumulation between $60k-$67k, suggesting a defined risk-reward scenario for long-term holders. The Federal Reserve's policy shifts have added to the market's volatility, leaving assets vulnerable to shocks.
Nexus recently tested its decentralized supercomputer, attracting over 1.5 million nodes from 187 countries in just five days. The project aims to harness global computing power for a "Verifiable internet," having raised $25 million in Series A funding. The testnet saw 800,000 web nodes and 700,000 command-line nodes, with 100,000 running concurrently. CEO Daniel Marin highlighted the demand for blockchain and AI innovations, noting significant mobile participation, especially in Ethiopia and Poland. Despite decentralization, Nexus maintains control over the supercomputer's applications, accepting program submissions after review.
The SEC has approved Bitcoin and Ether index ETFs from Hashdex and Franklin Templeton, allowing them to trade on major exchanges. Hashdex’s ETF will be listed on Nasdaq, while Franklin Templeton’s will trade on the Cboe BZX Exchange. Both funds will hold spot Bitcoin and Ether, offering investors exposure to these digital assets. The approval follows amended filings and compliance with SEC regulations to prevent fraud and protect investors. Industry experts anticipate strong demand for these ETFs, highlighting the growing interest in crypto diversification.
Mohammad Shaikh, co-founder and CEO of Aptos Labs, has stepped down to "start a new chapter," with Avery Ching, co-founder and CTO, taking over as CEO. Shaikh, who helped launch Aptos in 2022 and secure $400 million in funding, expressed confidence in the company's future. Aptos Labs anticipates significant technical advancements by 2025 under Ching's leadership. The blockchain aims to expand its community in Asia and continues to focus on scalability and security. Despite Shaikh's departure, the Aptos (APT) token saw a minor 4% dip amid a broader market downturn.
**Ragnarok Landverse: Genesis Set for 2025 Debut on Ronin Network**
Ragnarok Landverse, a Web3 adaptation of the iconic MMORPG Ragnarok Online, is slated to launch on Sky Mavis' Ronin Network in early 2025. This new version is a product of collaboration between Ronin and blockchain gaming platform Zentry.
Ragnarok Online, a 2000s favorite, has amassed over 100 million players and $2 billion in revenue. The latest Web3 version aims to offer a fresh experience, with existing Landverse assets remaining separate.
Zentry, which recently raised $150 million, will become a node validator on Ronin, bridging its ZENT token and launching liquidity pools on Ronin’s Katana exchange.
Ragnarok Landverse, a Web3 adaptation of the iconic MMORPG Ragnarok Online, is slated to launch on Sky Mavis' Ronin Network in early 2025. This new version is a product of collaboration between Ronin and blockchain gaming platform Zentry.
Ragnarok Online, a 2000s favorite, has amassed over 100 million players and $2 billion in revenue. The latest Web3 version aims to offer a fresh experience, with existing Landverse assets remaining separate.
Zentry, which recently raised $150 million, will become a node validator on Ronin, bridging its ZENT token and launching liquidity pools on Ronin’s Katana exchange.
**Crypto News Flash: Stablecoins Evolve Amid Regulatory Scrutiny**
- Reeve Collins, founder of WeFi, predicts a surge in viable stablecoins as AI and account abstraction simplify user experiences in decentralized finance. This evolution is expected to boost demand for yield-bearing assets like synthetic dollars and algorithmic stablecoins.
- As these technologies mature, stablecoins offering ease of use and profitability will attract more investors.
- Despite their potential, stablecoins face regulatory challenges. The U.S. Financial Services Oversight Council highlights risks, and Coinbase delisted Tether's USDT in the EU to comply with MiCA regulations. Circle now dominates the EU stablecoin market with a 91% share.
- Reeve Collins, founder of WeFi, predicts a surge in viable stablecoins as AI and account abstraction simplify user experiences in decentralized finance. This evolution is expected to boost demand for yield-bearing assets like synthetic dollars and algorithmic stablecoins.
- As these technologies mature, stablecoins offering ease of use and profitability will attract more investors.
- Despite their potential, stablecoins face regulatory challenges. The U.S. Financial Services Oversight Council highlights risks, and Coinbase delisted Tether's USDT in the EU to comply with MiCA regulations. Circle now dominates the EU stablecoin market with a 91% share.
Bitcoin enthusiasts are buzzing as BTC revisits key levels, hinting at potential price surges. John Bollinger, creator of the Bollinger Bands indicator, suggests Bitcoin might be poised for an upward breakout after breaching the upper boundary of the Bands. This move could lead to increased volatility, sparking optimism for higher BTC prices.
Looking ahead, predictions are bold. Mauricio Di Bartolomeo foresees Bitcoin reaching $132,500, while Robert Kiyosaki predicts a $350,000 price tag by 2025. Meanwhile, PlanB estimates an average valuation of $500,000, with potential peaks at $1 million. As always, investors should tread carefully and conduct thorough research.
Looking ahead, predictions are bold. Mauricio Di Bartolomeo foresees Bitcoin reaching $132,500, while Robert Kiyosaki predicts a $350,000 price tag by 2025. Meanwhile, PlanB estimates an average valuation of $500,000, with potential peaks at $1 million. As always, investors should tread carefully and conduct thorough research.
Solv Protocol is gearing up to launch its native token, SOLV, on Hyperliquid, a layer-1 blockchain network known for spot and derivatives trading. This marks one of the initial token launches on Hyperliquid's spot exchange, which began in May. Although the launch date for SOLV remains unspecified, Solv successfully secured its listing through Hyperliquid's auction process, paying around $130,000. Hyperliquid, with over $2.5 billion in TVL, offers a trading experience akin to centralized exchanges and supports leveraged perpetuals and spot trading for various tokens.
North Korean hackers have significantly ramped up their crypto thefts, stealing over $1.3 billion in 2024, according to Chainalysis. This marks a sharp increase from the $660 million stolen in 2023. The report highlights that attacks involving sums between $50 million and $100 million, and those exceeding $100 million, have become more frequent. Despite this surge, global crypto thefts saw a decline in late 2024. Interestingly, North Korea's reliance on crypto theft may be waning due to strengthened ties with Russia. Overall, 2024 saw $2.2 billion in crypto stolen worldwide, a rise from 2023 but still below 2022's $3.7 billion.
Bitcoin has surged past $100,000, sparking a wave of profit-taking among long-term holders, whose supply has dipped from $14.23 billion to $13.31 billion. This shift suggests seasoned investors are cashing in on record profits. Meanwhile, short-term holders are stepping up, absorbing the sell-off and maintaining Bitcoin's momentum. Analysts suggest the market hasn't hit euphoric highs yet, indicating potential for further growth. Bitfinex predicts a mild correction, with Bitcoin possibly reaching $145,000 by mid-2025. Speculation also swirls about a potential U.S. Bitcoin reserve under the Trump administration.
The Bank for International Settlements (BIS) has proposed a new architecture for retail central bank digital currencies (CBDCs), suggesting a hybrid model. In this setup, central banks would handle issuance and governance, while commercial banks manage consumer services. The design aims to enhance privacy by separating transaction data from user identities.
Despite these privacy assurances, CBDCs face criticism. The Bank of Canada paused its CBDC plans due to public disinterest. In the U.S., attorney John Deaton criticized CBDCs, citing threats to personal freedom. Meanwhile, European MP Sarah Knafo urged the EU to ditch CBDCs in favor of Bitcoin, warning of potential authoritarianism.
Despite these privacy assurances, CBDCs face criticism. The Bank of Canada paused its CBDC plans due to public disinterest. In the U.S., attorney John Deaton criticized CBDCs, citing threats to personal freedom. Meanwhile, European MP Sarah Knafo urged the EU to ditch CBDCs in favor of Bitcoin, warning of potential authoritarianism.
Bitcoin miner MARA has been on a buying spree, acquiring over $1.5 billion in Bitcoin in the past two months. This was funded by two convertible notes, boosting their holdings by over 50% this quarter and nearly 200% this year. As of December 18, MARA holds 44,394 BTC, up from 26,747 BTC in the previous quarter. The company raised $1.925 billion through zero-coupon senior convertible notes, with proceeds used for Bitcoin purchases. Other companies like Hut 8 and Riot Platforms have also been active in the market, highlighting a trend among crypto miners.
Chainalysis, a blockchain data platform, has acquired Hexagate, a Web3 security firm from Israel. Founded in 2022, Hexagate specializes in Web3 threat detection and has reportedly saved over $1 billion in customer funds for clients like Coinbase. Chainalysis CEO Jonathan Levin announced the acquisition, emphasizing a shift towards preventing theft with secure smart contracts and real-time threat detection. While details of the acquisition remain sparse, Levin hinted at expanding Chainalysis' security offerings and international reach to better protect crypto users globally.
Dubai-based Allo has secured a $100 million credit line backed by Bitcoin, as announced on Dec. 19. This funding comes from lenders like Greengage and a major U.S. institution. Allo specializes in tokenizing real-world assets and onchain lending. Before this, the company raised $750,000 through Binance Labs and nearly $2 million in seed funding.
Tokenization is booming, turning assets like real estate and gold into digital tokens. The total value of tokenized assets has surged to $13.9 billion, driven by private credit and US Treasury bonds. McKinsey forecasts the market could hit $2 trillion by 2030.
Tokenization is booming, turning assets like real estate and gold into digital tokens. The total value of tokenized assets has surged to $13.9 billion, driven by private credit and US Treasury bonds. McKinsey forecasts the market could hit $2 trillion by 2030.
Google's new quantum chip, Willow, is shaking up the tech world with its potential to solve complex problems at lightning speed. This advancement could pose a threat to cryptographic systems, including blockchain, by potentially cracking their security. However, Eli Ben-Sasson, CEO of StarkWare, remains optimistic. He highlights zero-knowledge proofs (ZK-proofs) as a promising solution, as they are inherently secure against quantum attacks. While the blockchain industry must adapt, ZK technology offers a pathway to secure the future against quantum computing challenges.
Ripple Labs has launched RLUSD, a new stablecoin pegged to the US dollar, aiming to enhance global transactions and trading. Approved by the New York Department of Financial Services, RLUSD is available on the XRP Ledger and Ethereum blockchains. Initially launched on five exchanges, it plans to expand to major platforms like Bitstamp and Mercado Bitcoin. RLUSD is fully backed by cash or equivalents, ensuring a stable 1:1 value with the dollar. While not replacing XRP, it complements Ripple's payment solutions, promising efficient cross-border transactions for enterprises. Ripple projects a $2 trillion market cap by 2028.
**Nigeria SEC Tightens Crypto Marketing Rules**
The Nigerian SEC has updated its crypto regulations, targeting marketing practices by Virtual Asset Service Providers (VASPs) and social media influencers. VASPs must now secure prior approval from the SEC for third-party promotions, ensuring compliance with marketing standards.
Influencers, dubbed "Finfluencers," must obtain a "no-objection authorization" before promoting digital assets and verify the licensing of the companies they endorse. They must also disclose any payments received for promotions, with penalties for non-compliance including fines or jail time.
These measures aim to curb unauthorized financial promotions and will be enforced starting June 30, 2025. Currently, only two exchanges, Quidax Technologies and Busha Digital, are regulated in Nigeria. The SEC plans to crack down on unregulated crypto activities.
The Nigerian SEC has updated its crypto regulations, targeting marketing practices by Virtual Asset Service Providers (VASPs) and social media influencers. VASPs must now secure prior approval from the SEC for third-party promotions, ensuring compliance with marketing standards.
Influencers, dubbed "Finfluencers," must obtain a "no-objection authorization" before promoting digital assets and verify the licensing of the companies they endorse. They must also disclose any payments received for promotions, with penalties for non-compliance including fines or jail time.
These measures aim to curb unauthorized financial promotions and will be enforced starting June 30, 2025. Currently, only two exchanges, Quidax Technologies and Busha Digital, are regulated in Nigeria. The SEC plans to crack down on unregulated crypto activities.
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BTCNextMove
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BTC Update: 12 Days Left!
We have 12 days left to maintain the narrative.
If we continue to fall, it could mark the first time in a halving cycle that $BTC doesn’t close all three months of Q4 in green.
.
For the first time, we might see a red December and a red monthly close during a halving!
.
After a long Bullish Rally and Non-Stop
Green Candles, finally BITCOIN formed
Engulfing long RED Weekly candle.
What this entails, most $BTC holders right now
FEAR - has this BULL RUN ended?
Only time will tell, however year's about to close and people will be on vacations -
indicating low volume tides and when this
happens, BTC might experience pullback
to atleast low 80K.
.
With Short term pullback in sight,
don't get me wrong because long term
BITCOIN is still bullish and 1-2 weeks into
the new year 2025 you'll start seeing
BITCOIN regaining momentum again
- targeting 120K!
What are your predictions?
Comment 'Signal' for more signals 🫡
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