Curve Finance's community has voted to reimburse liquidity providers impacted by a $61 million hack in July. On Dec. 21, 94% of tokenholders approved the disbursement of $49.2 million in tokens, covering losses in Curve, JPEG'd, Alchemix, and Metronome pools. The reimbursement considers the initial pool values, missed CRV emissions, and tokens recovered post-incident. The hack, which occurred on July 30, exposed vulnerabilities in DeFi protocols. Meanwhile, Paxos has gained regulatory approval from the New York DFS to launch on Solana, expanding from Ethereum. Paxos, the most regulated stablecoin issuer, plans to debut on Solana on Jan. 17, 2024, citing faster transaction speeds and lower costs as advantages.
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Navigating the Ripple vs. SEC Legal Battle: A Detailed Timeline and Partial Victory

In 2013, Ripple's founders utilized XRP for fundraising, leading to a 2020 SEC lawsuit alleging an unregistered security offering. The SEC claims that Chris Larsen and Brad Garlinghouse engaged in unregistered XRP transactions and promoted sales to support Ripple's operations.

The SEC argues that XRP, used to fund Ripple's platform, qualifies as a security. The Howey test, determining if an investment contract is a security, is referenced. Ripple's response involves challenging the SEC's lack of fair notice and highlighting potential bias.

Despite setbacks, Ripple secured a partial win in 2023, with Judge Analisa Torres ruling on the XRP sales to institutional investors. The legal battle continues, and the outcome may influence cryptocurrency regulations and similar cases in the future.
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Interested in quick profits on Binance's P2P platform? Let me guide you through creating a Binance P2P account, claiming welcome bonuses, and accessing the platform. Understand the features, choose a trading strategy, and learn to sell cryptocurrencies, setting a slightly higher price for potential profits. Post an advertisement with preferred payment methods, monitor notifications, and complete transactions, ensuring a profit by selling USDT above the market price. Follow these steps for success in Binance P2P trading
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Solana's current bullish trend is facing a potential setback as technical indicators suggest a 40% price drop to around $42 by January 2024. The cryptocurrency's rally lacks the necessary momentum, evident in bearish divergence patterns between its price, RSI, and trading volumes. Despite the bearish signals, some analysts view this as a buying opportunity, anticipating a rebound around the 50-3D EMA ($42), with potential support near $40 and $55. The overall sentiment suggests a cautious outlook for Solana's price, with the possibility of a bearish trend reversal if key support levels are breached.
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The largest cryptocurrency, fresh from a recovery from snap volatility the day prior, failed to hold its ground at $43,000 as Bitcoin bulls were denied upside continuation.

BTC price weakness accompanied news that the United States Securities and Exchange Commission had refused a request by major exchange Coinbase to rework the rules for crypto.

“Today, the Commission denied a Petition for Rulemaking filed on behalf of Coinbase Global, Inc.,” a statement from SEC Chair Gary Gensler read.
I was pleased to support the Commission’s decision for three reasons. First, existing laws and regulations apply to the crypto securities markets. Second, the SEC addresses the crypto securities markets through rulemaking as well.

In an interview with Bloomberg on Dec. 13, Gensler acknowledged recent legal proceedings linked to the agency’s repeated rejections of Bitcoin spot ETF applications.

The SEC, he said, “does things according to our authorities and how courts interpret our authorities, and that’s what we’ll do here as well.”
Analyzing the latest setup on order books, popular trader Skew flagged increasing bid support intensifying at $41,000.

“Increasing bid depth around $41K, will be interesting from here. Active supply around $44K,” part of a post on X (Twitter) noted.

Material Indicators further showed large-volume traders increasing buying activity at the time of writing.

“Mega Whales are buying, and trying to reclaim $42k,” part of X commentary.

Bitcoin whales are aiming to recover the $42,000 mark following a more than 3% drop in BTC price. Despite a recent rebound from volatility, the cryptocurrency couldn't sustain its position at $43,000 as bullish momentum was hindered. The setback coincided with the United States Securities and Exchange Commission's rejection of Coinbase's request to revise crypto rules. Material Indicators highlighted significant buying activity by mega whales, signaling an attempt to reclaim the $42,000 threshold.
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Iris Energy, a Bitcoin mining company placing a strong emphasis on eco-friendly practices and renewable energy sources, is on the brink of a substantial expansion in its operational mining capacity. The first half of 2024 is earmarked for the reception of substantial mining hardware orders from Bitmain, a leading Chinese manufacturer. This strategic maneuver is anticipated to propel Iris Energy's cumulative hash rate to an impressive 10 exahashes per second (EH/s) by the year 2024.

The recent disclosure of an acquisition illuminates Iris Energy's success in securing an additional 1.6 EH/s through state-of-the-art Bitmain T21 miners, with the scheduled delivery slated for the second quarter of 2024. As of December 2023, the company has already established an operational capacity of 5.6 EH/s. Noteworthy is the expected deployment of the latest Bitmain hardware, which is not only projected to augment the overall hash rate but also enhance operational efficiency significantly. The transition from 29.5 joules per terahash (J/TH) to 24.8 J/TH marks a substantial improvement in the company's energy efficiency metrics.

To facilitate this strategic progression, Iris Energy has committed a substantial investment of $22.3 million in the latest Bitmain order, valuing the hardware at $14 per terahash. The company harbors optimism regarding achieving a mining output of 1.4 EH/s by activating a previous order of Bitmain S21 miners in the first quarter.

Operating data center facilities across diverse North American sites, including Canal Flats, Mackenzie, Prince George in Canada's British Columbia, and its flagship Childress site in Texas, Iris Energy is unwavering in its commitment to sustainability. A clarification on its website underscores that its three Canadian sites derive an impressive 98% of their power from renewables, with any residual energy use offset through the acquisition of renewable energy certificates.
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