Casey

Casey

I’m a Crypto author and Blockchain enthusiast. I have been writing about Bitcoin, Ethereum, and other Cryptocurrencies for over 5 years. My work has been featured in major publications such as Forbes, CoinDesk, and VentureBeat. I’m also a regular speaker at Blockchain conferences around the world.

Hong Kong stablecoin bill submitted to Legislative Council

The bill includes licensing requirements for stablecoin issuers, supply and marketing restrictions, and broad consumer protections. Hong Kong’s proposed stablecoin bill has been submitted to the Legislative Council, bringing the region closer to creating a comprehensive stablecoin regulatory system. On December 6, the Hong Kong government published the bill in the SAR Official Gazette, bringing it closer to enactment. On the 11th In 2018, the bill was submitted to the Hong Kong Legislative Council for its first reading. The bill must go through three readings, which include a series of debates, considerations, and possible amendments, before it can become law. If the bill passes the third reading, it will be sent to the territory’s head of government, who will sign the bill into law. Key Components of the Stablecoin Bill According to law firm King & Wood Mallesons, the Stablecoin Bill has three key components. These include licensing and requirements for stablecoin issuers, specific stablecoin offerings, and marketing restrictions with extensive consumer protections. Once the bill comes into effect, stablecoin issuers in Hong Kong will be required to obtain a license from the territory’s central bank, the Hong Kong Monetary Authority (HKMA). Issuers will have to meet comprehensive requirements to obtain a license. The regulator will assess issuers and their managers, resources, stablecoins, reserve assets, and mechanisms for stabilizing their value. Only regulated companies and platforms will be allowed to offer or publicly sell stablecoins in Hong Kong. The bill provides consumer protections that will affect a range of market participants, including issuers and traders. MiCA-compliant stablecoins take Europe by storm If the bill passes, Hong Kong could see a similar shift in stablecoin usage as Europe saw when the MiCA regulation came into effect. On December 18, research firm Kaiko and Dutch cryptocurrency exchange Bitvavo reported that the launch of MiCA has significantly changed the stablecoin landscape in the region. Compliant issuers have flourished while issuers like Tether have stopped issuing euro-backed stablecoins. By November, MiCA-compliant stablecoins made up the majority of the market, with Circle, Societe Generale and Banking Circle stablecoins poised to account for 91% market share by the end of 2024.

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Yat Siu X’s account hacked as part of a series of recent hacks: ZachXBT

The X account of Yat Siu Brands, co-founder of Animoca Brands, was hacked for promoting fake currency, the latest in a series of similar hacks that have occurred over the past month. Blockchain gaming group Animoca Brands has confirmed that its founder and chairman Yat Siu was hacked on X to promote fake coins, in the latest in a series of attacks targeting crypto X accounts. “Unfortunately, [Siu’s] social media accounts have been compromised,” Animoca posted on X on December 26. “The post states that the token launch on Solana was initiated by hackers.” ¤ In the now-deleted post, Siu’s account shared a link to a token launched on Solana memecoin starter Pump.fun called Animoca Brands (MOCA), whose name is a cross between the company and its Mocaverse collection of tokens of the same name (NFT). ). Blockchain researcher ZachXBT wrote in a Token post that the operation generated $500,000 last month. ZachXBT said the fake MOCA tokens were “distributed in the same address” as the fake tokens distributed to other recently hacked CryptoX accounts. According to Birdeye, the fake MOCA tokens peaked at $36,700 shortly after being distributed to Siu’s wallet, but lost almost all of their value within seconds, with the market cap dropping to $7,700. The token’s current value is $6,200, and what little trading volume has been reduced. ZachXBT previously explained that the hackers were able to control more than 15 X accounts using social media — a signal to the X group to issue a copyright infringement notice. This notification appears to be a scam and tricks victims into visiting a phishing website, where they enter their Account X password and two-factor authentication (2FA) login messages, including messages sent to the attacker’s account. The first known incident occurred on November 26, involving Bitcoin infrastructure service provider RuneMine’s Account X, while the most recent (before the alleged Siu attack) occurred on December 26 with a cryptocurrency trading account for video streaming site Kick.

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Cryptocurrency investments should support emerging markets

Cryptocurrency investments should more closely follow market adoption patterns.Many say that Web3 is just a place for imagination because of its ability to make millions overnight, because memes are more important than useful. Old manufacturers and dreamers will soon lose faith in the future of the industry. In addition to media reports, there are other bright spots. Blockchain and cryptocurrencies are very beneficial to people, especially in emerging markets. Society is experiencing a fundamental shift in the way Web3 technology empowers the poor and underbanked and overcomes the shortcomings of new and legacy financial institutions. Investment must continue. Developing countries lead the adoption curve By 2024, the World Bank estimates that 1.4 billion people worldwide will lack access to finance. The partnership aims to address the problem of unequal distribution of wealth. The industry must support other innovators who are committed to driving change. Africa is one of the leading regions for cryptocurrency adoption, due to low access to banking services. Even in 2021, nearly 300 million adults in sub-Saharan Africa still lack access to basic financial services. Lack of access significantly limits people’s ability to manage their daily lives, save and invest money – let alone run a business. Crypto is changing that narrative. According to Chainalysis’ 2024 Global Cryptocurrency Adoption Index, developing countries are leading the pack, with countries like India, Indonesia, and Nigeria leading the way. Sub-Saharan Africa has the highest Bitcoin adoption rate in the world at $98,330 in 2023, with Nigeria leading the global cryptocurrency adoption index. By mid-2023, Sub-Saharan Africa will account for 2.3% of the global cryptocurrency market cap, with a market value of $117.1 billion. In this space, cryptocurrencies have practical uses beyond their intended use. Things are improving In emerging markets, we are seeing practical uses for cryptocurrencies beyond their use as a hedge. Local entrepreneurs who understand the local issues are driving meaningful change, and new technological innovations are being developed to meet the desired goals. Projects like CARE’s pilot projects in Kenya and Ecuador, which are distributing cryptocurrency-based loans to vulnerable groups, are demonstrating how cryptocurrency can provide access to basic goods and services and boost economic recovery from the COVID-19 pandemic. Non-fungible tokens have become a cross-border fundraising tool. Major regulatory issues could hinder adoption growth. The Indian city of Raipur set a record for blockchain-based assets through an innovative crypto startup called Airchains. This blockchain solution is designed to prevent fraud and reduce processing times from one month to three days. In developing countries, many studies are being conducted to consider this issue. However, Raipur has a bidding process and is willing to deal with this challenging issue. Use the wallets, not the shiny new ones Although the flow of capital to cryptocurrency projects in emerging markets is increasing in importance, it is still light compared to the funds available to projects in developed countries. In 2023, developed countries, especially the United States, will invest approximately $1.975 billion in the third quarter alone, with US companies accounting for 34.5% of all cryptocurrency capital projects. In contrast, developing countries are finding it difficult to access matching funds, with total investment in Africa reaching $1 billion this year, highlighting the challenges in investment plans in these region. Recently, there has been a growing awareness of the potential of emerging markets. Cryptocurrency investments should now focus on where mass adoption is taking place. In emerging markets, cryptocurrencies are more of a tool than a speculative asset.

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Coinbase Abandons Failed Strategy—Millions in Crypto Now Flowing to Policy Game Changer

Coinbase CEO Unveils Bold Plan to End Decade of Failed Policies, Reinvest Tech Funds into New Initiatives, and Invest Millions to Reshape Washington’s Future. Coinbase Ends Decade of Failed Policies — Armstrong Unveils Bold New Plan Cryptocurrency exchange Coinbase (NASDAQ: COIN ) CEO Brian Armstrong has emerged as a key leader in reshaping the tech industry’s path to Washington, D.C. “While we continue to support candidates who are strong on technology and business, regardless of their party affiliation, tech will continue to have a strong influence in Washington,” Armstrong said in a post on the social media platform X on Monday. The Coinbase CEO added: “It’s a complete failure (in hindsight),” he said. His comments were in response to a post on X by Newlimit co-founder Blake Byers, who wrote: “Silicon Valley has taken over Wall Street and is taking over Washington, D.C.” Interestingly, this is the case for elected Republicans even as the Democratic Party continues to hold the majority of tech jobs. We’re a few years behind the cultural influence of technology disrupting Hollywood, but it’s happening faster than I thought. Armstrong’s position reflects Silicon Valley’s growing opposition to traditional lobbying practices that focus on distracting lawmakers from driving long-term growth. . His opposition reflects a broader shift in the tech industry, where companies have previously distributed political donations to groups to ease regulatory pressure. As scrutiny of cryptocurrencies, artificial intelligence and new technologies continues to increase, Armstrong advocates supporting candidates who support innovation and economic growth, rather than working to politicians are skeptical of these institutions. This approach came about through Coinbase’s “Pro-Crypto” campaign, a grassroots campaign aimed at gathering voter support for crypto-friendly legislation. The movement has attracted millions of supporters who want to see policies that develop blockchain technology and digital assets instead of restricting them with restrictive laws. Ahead of the 2024 election, the cryptocurrency industry has been supporting Donald Trump’s campaign due to his pro-crypto stance. Digital Assets also made a special donation to his inauguration. Ripple pledged $5 million in XRP to the Trump-Vance inauguration committee, while Coinbase and Kraken each donated $1 million.

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Analysts “won’t be surprised” if Ethereum surpasses Bitcoin in January

According to analysts, Ethereum’s relative strength against Bitcoin could rise in January, which could trigger an “altcoin run” for Ethereum. One cryptocurrency analyst says Ether is showing signs of a breakout against Bitcoin in January 2025. According to Trading View, Ether’s ETH ticker has fallen $3,499.43, while Bitcoin’s relative strength against the BTC ticker has fallen $98,189, with the ETH/BTC ratio now at 0.0356. MN Capital founder Michael van de Poppe said in a December 24 X post that he “won’t be surprised if ETH/BTC falls below 0.04 in January.” ETH’s strength could trigger an “altcoin run” for Ethereum. The last time the ETH/BTC ratio hit the 0.04 level was on December 8, when ETH was trading at $4,018, just above the psychological $4,000 level. Van de Poppe predicts that in January 2025, there will be an outflow into Bitcoin while Ether will increase in inflows, which could stabilize the price. He expects this to trigger a “distribution of altcoins in the Ethereum ecosystem.” Shiba Inu SHIB (ticker $0.00002314) and Mantle MNT (ticker $1.25), the second and third largest tokens in the Ethereum ecosystem outside of stablecoins, have risen 7.10% and 3.32%, respectively, in the past 24 hours. Bitcoin continues to trade below $100,000 at $98,805, according to data from CoinMarketCap. It hit the six-figure price milestone for the first time on December 5. Analysts See Ether ETFs Outperforming Some analysts have noted that Ether spot exchange-traded funds (ETFs) could outperform Bitcoin ETFs in 2025. ETF Store President Nate Geraci said in a December 20 X post that “Net inflows into ETH ETFs are currently at the same level as gold ETFs, but we expect inflows to accelerate from here.” Related: Why Ethereum Maxis Says ETH Will Be the “Comeback Kid” of 2025 Pseudonymous crypto trader Brent expressed a similar opinion, This came shortly after a crypto analyst said Ether’s underperformance against Bitcoin may soon be coming to an end. Into The Cryptoverse founder Benjamin Cowen wrote to X in December. 4. He believes that the ETH/BTC crash is over (or almost over) and that the uptrend should continue over the next 6-12 months.

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BRICS Welcomes Nine Countries as Partners – Russia Hints Four More Will Join Soon

BRICS is set to expand to include nine new partner countries in 2025, signaling growing global rapprochement with BRICS as more countries seek to secure ties. BRICS to expand to include new partner countries in 2025 Several countries will gain BRICS partner status from January 1, 2025, after Russia receives the relevant confirmations, Kremlin adviser Yuri Ushakov told reporters on Tuesday. Ushakov, referring to the BRICS summit in Kazan, said, “One of the main outcomes of the summit was the creation of the category of BRICS partner countries and an agreement on the list of 13 invited countries,” TASS reported. Russian officials added that they have been sent to these states. So far, willingness to become BRICS partner countries has been confirmed by Belarus, Bolivia, Indonesia, Kazakhstan, Cuba, Malaysia, Thailand, Uganda and Uzbekistan. “From January 1, 2025, they will officially acquire the status of BRICS partner countries. However, we expect replies from the other four countries to which we sent invitations soon,” he added. Ushakov noted that Eritrea has shown interest in cooperation with BRICS countries, reflecting the growing number of countries seeking cooperation with it. Representatives of partner countries will be invited to important meetings such as BRICS summits and foreign ministers’ meetings. The official added, “We believe that it is right to include partners in high-level security meetings, parliamentary forums and other events.” Regarding Russia’s chairmanship position in BRICS, Ushakov noted that Moscow is making efforts to incorporate new members into the organizational framework. He stressed that Russia needs to support the work of BRICS in an expanded manner “so that the new members of the group can harmoniously adapt to the usual arrangements and modes of interaction.” Ushakov assessed the process as successful and stressed the importance of Russia’s role in leading the bloc through the transition period.

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DeFi hacks to drop 40% in 2024, CeFi breaches to hit $694 million – Hacken

DeFi losses fell 40% in 2024 as security measures tighten, while CeFi breaches hit $694 million. Dollar losses due to security breaches in decentralized finance (DeFi) are expected to drop 40% from 2023 to 2024, thanks to improved protocols, stronger bridges, and additional measures. The rise in DeFi security measures comes on the heels of a bleak year for centralized fiat currencies (CeFi), according to blockchain security firm Hacken’s annual “Web3 Security Report.” CeFi has suffered more than two breaches, with losses rising to $694 million as centralized exchanges are the focus of access control vulnerabilities and other security issues. The report’s findings highlight significant differences between DeFi’s progress and CeFi’s struggles, providing a valuable perspective to examine both sectors and highlighting the weakness of integration. DeFi Security Pump The 2024 Hacken report predicts that DeFi losses will drop significantly in 2024, from $787 million in 2023 to $474 million this year. The report said that bridge-related vulnerabilities were the largest breach in DeFi history, with losses falling from $338 million in 2023 to $114 million in 2024. Despite some advances in DeFi, such as multi-party operations and non-knowledge tokens, challenges remain, with access control vulnerabilities accounting for nearly half of all DeFi losses, such as the $55 million Radiant Capital hack. CeFi breaches are on the rise CeFi’s performance in 2024 contrasts with the rise of DeFi, with financial losses exceeding $694 million in 2023, according to a Hacken report. The increase in breaches was primarily due to governance vulnerabilities and major incidents such as the DMM exchange hack in Q2 and the WazirX hack in Q3. The hack, which involved leaking private keys and exploiting a multi-signature vulnerability, cost $305 million and $230 million, respectively. Dyma Budorin, founder and CEO of Hacken, told Cointelegraph that the report’s findings reveal “significant gaps” in the security of CeFi operations, due to “poor private key management, weak multi-signature setup, and poor governance.” Lessons to be learned The significant difference in financial losses in the DeFi and CeFi sectors highlights ways to improve both industries. Budolin said that attackers exploit vulnerabilities in security areas, making it important to implement key management procedures and automated monitoring systems to mitigate these risks. The problems identified by Director Hacken are evident in North American hackers who have stolen more than $1.3 billion in crypto assets in 47 incidents this year, according to a December 19 report by Chainalysis.

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What’s next for DeFi in 2025?

Industry leaders say Bitcoin staking, tokenized ATMs, and artificial intelligence will reshape the cryptocurrency ecosystem. Decentralized finance (DeFi) will reach an inflection point in 2025 as Bitcoin staking, real-world asset (RWA) tokenization, and artificial intelligence (AI) fees fall below $0.5614, multiple industry executives told Cointelegraph. In 2024, the price of a single Bitcoin topped $100,000 for the first time as investors poured more than $100 billion into BTC exchange-traded funds (ETFs). “The drop in Bitcoin’s BTC price to a high of $96,103 will rekindle the interest of businesses and regulators in cryptocurrencies and reshape the entire cryptocurrency industry by 2025,” Dean Tribble, CEO of Layer 1 Network Agoric Systems, told Cointelegraph. It reached $130 billion in December and is expected to reach $175 billion by 2021, according to DefiLlama. Industry executives expect this upward trend to continue next year. “DeFi infrastructures and blue chip protocols like Aave, Maple, Maker, etc. will operate at scale for more than four years by 2025,” Jacob Phillips, co-founder and chief strategist at Bitcoin staking protocol Lombard, told Cointelegraph. Bitcoin BettingBitcoin’s layer 2 (L2) network ecosystem and emerging DeFi protocols will create unprecedented opportunities for investors to earn Bitcoin. – Bitcoin DeFi currently accounts for 0.1% of its total value. Alexei Zamyatin, founder and CEO of Build on Bitcoin, told Cointelegraph that there is a 300x chance of developing DeFi on Bitcoin, adding: “We’ve spoken to a lot of users and large DeFi Bitcoin wallets looking to leverage their Bitcoin wallets to monetize.” “This platform will be a trusted place for businesses and new users to use Bitcoin,” Phillips said. L2 Bitcoins like Babylon and CoreChain reward stakeholders for securing their networks by locking up BTC as collateral. Liquidity-settled tokens (LSTs), which represent claims on BTC, are growing. According to statakerewards.com, the total value locked (TVL) in Bitcoin ESG reached $2.5 billion on December 19. Bitcoin ETFs could also be in the works by 2025, Matt Hougan, head of research at asset manager Bitwise, told Cointelegraph. – There is a huge demand for Bitcoin-based income. “I’m not sure if this is the ETF structure in the US, but it’s definitely in Europe,” Hougan said. RWA tokens Colin Butler, head of global capital at Polygon, told Cointelegraph that the global asset asset (RWA) market cap — digital tokens that represent claims on everything from US Treasuries to artworks — was worth $30 trillion as of August. According to RWA.xyz, they have a TVL of around $14 billion. US-based cryptocurrencies are popular, with TVLs of over $3 billion. Raj Brahmbhatt, CEO of Web3 settlement platform Zeebu, told Cointelegraph, “The tokenization of global assets like real estate and carbon credits will unlock unprecedented levels of revenue, as advances in payment technology make it easier to cross borders.” While the US Treasury Department has touted the potential of cryptocurrencies to increase liquidity and reduce “decision-making and decision-making.” “In the United States, with the victory of [President-elect Donald] Trump, I really hope that America will become the global leader in this area by the end of this year,” Bramhart said. AI Traders According to CoinGecko, tokens tied to artificial intelligence (machines that perform complex tasks) will drive the market cap to nearly $10 billion by 2024. Analysts predict that the integration of artificial intelligence and blockchain technology will revolutionize Web3, creating a future where autonomous intelligence will build decentralized applications and manage transactions with human users. JD Seraphine, CEO of AI protocol Rainmaker, told Cointelegraph that AI agents have proven to be at the heart of the future of the industry. Seraphine said that by 2025, “intelligent agents are expected to play a significant role in decentralized societies.” Hogan said that the potential of AI agents is almost limitless, adding: “It doesn’t matter if you don’t know exactly what’s going to happen, as long as you know that what’s going to happen is important and you want to know about it.”

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Despite Bitcoin’s surge, miners struggle to make a profit in 2024

While Bitcoin is expected to be profitable in 2024, many mining stocks are continuing to record losses this year. Bitcoin fell to $96,255 on December 24, with a 2024 return of 113%, but most mining stocks managed to boost the cryptocurrency’s profits and ended in the red. According to data from Hashrate Index and Google Finance, the majority of registered miners will end 2024 in negative territory, with losses reaching 84%. Of the 25 mining companies listed in the index, only seven have made a profit for investors this year. At the time of writing, Bitdeer (BTDR) is up 167%, Cipher (CIFR) is up 33%, Hut 8 (HUT) is up 91%, Iris Energy (IREN) is up 72%, Northern Data (NB2) is up 58%, Core Scientific (CORZQ) is up 327% and TeraWulf (WULF) is up 169%. On the other hand, Argo Blockchain (ARB) is down 84%, Sphere 3D (ANY) is down 69%, MARA Holdings (MARA) is down 12%, Hive (HIVE) is down 29%, and Greenidge (GREE) is down 74%. For example, Bitfarms (BITF) fell 44% and BitFufu (FUFU) fell 18%. Challenges facing miners in 2024 Overall, 2024 will be a year of adjustment for Bitcoin mining companies as they deal with falling prices and rising costs and find new sources of revenue to stay afloat. Miners have earned more than $71 billion since the network’s inception, but every four years, their income from mining new blocks is cut in half during a halving event. The most recent Bitcoin halving occurred in April, reducing the mining fee from 6.25 BTC to 3.125 BTC. According to Blockchain.com, mining revenue was $42 million as of December 22, down from a peak of $100 million in April.At the same time, the difficulty of creating a new block on the Bitcoin blockchain has doubled compared to last year, fueling the increasing costs of Bitcoin mining. Bitcoin’s average difficulty is currently 108.52, up from 72.01 last year and up 50.71% over the past 12 months. Mining costs have also risen sharply due to the increase in costs. For example, BitFuFu reported that Bitcoin mining costs increased by 168% to $51,887 per BTC, while mining power increased by 62.5%. In order to increase their financial position, many listed mining companies have turned to the capital markets. Nine of the 13 Bitcoin mining companies listed in the US raised a total of $1.25 billion through share offerings in the second quarter. This trend continued in the third quarter, with an additional $530 million raised, bringing the total to $2.2 billion. In addition, many companies are looking to transform their operations by 2024. Bitcoin mining firm Core Scientific has entered the artificial intelligence space by partnering with CoreWeave to host Nvidia GPUs, aiming to meet the growing demand for intelligent computing power. The partnership will bring Core Scientific $8.7 billion in revenue over the next 12 years. Some mining companies are following the lead of publicly traded companies and using Bitcoin reserves to bolster their portfolios. The latest in this trend include MARA and Hut 8.

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Cryptocurrency and AI growth could strain North American energy grid: NERC

North America is facing energy challenges as cryptocurrency mining and AI data centers drive electricity demand to unprecedented levels. As the cryptocurrency mining and artificial intelligence industries connect large data facilities to the grid, electricity demand across North America is reaching new highs. This increased electricity demand is expected to create challenges in forecasting and reliability, according to a report from the North American Electric Reliability Corporation (NERC). Electricity consumption in cryptocurrency mining can be variable, often fluctuating with market prices, further complicating energy grid management and leading to sudden fluctuations in load demand during normal operations. Electricity consumption in cryptocurrency mining can be variable, often fluctuating with market prices, further complicating energy grid management and leading to sudden fluctuations in load demand during normal operations. The NERC report highlights the strain on grid reliability and increased risk of energy shortages posed by cryptocurrency mining and AI operations. It also aims to address future challenges to ensure a stable supply of electricity to North America. Cryptocurrency and AI are expected to boost energy demandSignificant growth, especially in areas such as Texas, means demand will increase 4.6% annually through 2029 during peak summer demand, four times higher than previous forecasts, according to NERC’s latest long-term reliability assessment. This energy demand may change as cryptocurrency mining facilities adjust their consumption based on electricity prices or as AI data centers increase their energy consumption for processing, cooling, and storage. Risks to reliability and stability As cryptocurrencies and AI become more mainstream over time, operations associated with them pose significant challenges to the stability and reliability of the energy grid, especially in the face of potential network stresses during peaks and disruptions. In Texas, home to a high concentration of cryptocurrency mining and AI centers, the Electric Reliability Council of Texas (ERCOT) has reported increased risks associated with contracted and uncontracted energy loads. Sudden changes in loads in the cryptocurrency mining and AI industries can mimic issues experienced with inverter-based resources, such as failures and interruptions during price spikes, creating new risks for grid operators managing variable renewable energy resources. Strategies to address rising electricity consumption NERC has called for proactive measures to address growing strains on North America’s energy grid, proposing improved demand forecasting, advanced transmission planning, and expanded demand-side management (DSM) programs. ERCOT has introduced energy response and demand response programs to balance energy grid loads at critical times. Texas has also introduced legislation such as Texas HB 3390, which mandates enhanced tracking of distributed energy resources (DERs) to improve reliability ratings. In tandem with the growing concerns, some mining companies are betting on renewable energy sources, such as MARA (formerly Marathon Digital) buying a wind farm in Hansford County, Texas.

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December market correction wiped out $17 billion from crypto ETPs

Despite the price correction, digital asset funds ended the week with positive net outflows, totaling $308 million. The December market correction had a significant impact on digital asset investment returns, with total assets under management of exchange-traded products (ETPs) falling to $17.7 billion. Digital asset funds shed more than $1 billion between December 19 and 20, likely in response to the slowing down of liquidity in the coming year, according to a December 23 CoinShares analysis. On December 18, the U.S. Federal Open Market Committee (FOMC) cut the federal funds rate by 25 basis points to 4.25% from 4.50%, the lowest level since February. However, new estimates suggest a more cautious approach to future rate cuts, with only two 25 basis point cuts expected by 2025, down from four previously. Despite the economic uncertainty and price corrections, digital asset funds ended the week with a net inflow of $308 million. CoinShares analysis notes that while “the outcome was quite impressive, it still only accounted for 0.37% of the total value of cryptocurrencies.” ETP trading segment Most of the inflows from last week were focused on foreign markets and commodity products. Between December 16 and 20, inflows from Germany, Sweden and Switzerland totaled $212 million, while the Canadian market saw inflows of $60 million. On the positive side, the United States accounted for $567 million in inflows, followed by Brazil with $16 million and Australia with $10 million. Bitcoin’s BTC price fell $95,745, driven by a week of inflows, which wiped out $375 million in liquidity, followed by a $3,359.18 drop in Ethereum’s ETH price, which resulted in $51 million in inflows. The multi-asset product saw negative outflows of $121.4 million, while Solana SOL shares fell to $189.08 with outflows of $8.7 million. “Despite Bitcoin’s weekly losses, net outflows for the week still totaled $375 million, with little activity from Bitcoin short holders.” The price of Bitcoin fell from $106,000 on December 16 to $93,370 on December 20, down 10.5% over the period. The cryptocurrency is currently up 115% at the time of writing.

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Bitcoin Christmas: How to give useful cryptocurrency tips to your family and friends

Decorate the venue with some good advice for getting started in crypto. As we all know, retail investors are always late to the party and rush into Bitcoin. BTC will lose $98,346 only if it breaks through an attractive milestone like $100,000. There will be more than just turkey and pudding on the Christmas table this year. Expect curious relatives to test your cryptocurrency knowledge and ask how to join the bull market. Are you ready for the spotlight? This holiday season, your “orange pill” will be put to the test. Will you shine eloquently discussing decentralization and monetary sovereignty, or will you collapse like a stale mince pie and simply stammer “the numbers are going up!” in the Christmas lights? Don’t worry – here are some tips to help you navigate the crypto conversation with family and friends. Remember: you’re not a crypto guru, so you can’t predict the future. One of the first things you should do is make sure your counterpart understands that any action is “at their own risk.” Inexperienced investors may mistake you for a crypto guru, but to be honest, you probably aren’t. Chris Burniske, partner at venture capital firm Placeholder and former head of blockchain products at ARK Invest, said: “No one knows anything concrete about the market.” The only people we know for sure are lying are those who say they “know the facts.” When the cryptocurrency market rages in a full-blown bull market, everyone feels like the next Warren Buffett. Stay humble and admit that you don’t have all the answers. Be careful not to blindly follow like a flock of sheep. Caution is key, even when you’re busy. Give us some context about where we are in the bull market With Bitcoin dominating the headlines, inexperienced everyday investors often succumb to FOMO (fear of missing out) and jump in without fully understanding the risks. Retail investors are often desperate to jump in, driven by the overwhelming hype that everyone seems to be getting rich on cryptocurrencies. Successful crypto traders buck human instinct: they buy when crypto attention is low and sell when euphoria rules the market. Retail investors, on the other hand, often follow the crowd and are driven by emotion, not strategy. Berniske said it’s a “painful reality” that rising crypto prices inevitably attract attention, which in turn prompts more buying. A feedback loop he called the “attention cycle” accelerates when prices reach outrageous levels. “The later in this caution cycle you are, the worse your start will be.” “Give context to where we are in the cycle,” Berniske advises. He believes the market has been in a bull market for two years and may now be in its final phase. So what if it was the wrong time to get in, but “the desire to get exposure to crypto is still insatiable”? Berniske believes it can get equal shares with Bitcoin, Ethereum Red ticker $3,510.16 and Solana Sol Red ticker $197.30You should start with a 50%/25%/25% ratio. Berniske said that even if you get caught in a trap when the market turns bearish, “you can at least maintain quality.” If they are tempted to jump into altcoins or meme coins in hopes of getting rich quick, Berniske advises them not to put more than 10% of their total investment into the mix, and reminds them that doing so is at their own risk. Timing your crypto exit is the real challenge Getting into the cryptocurrency market is easy. Many retail investors jump in with enthusiasm, thinking they can make a quick profit as prices rise in a bull market. But remember, what goes up must come down. The cryptocurrency market situation has rarely been more favorable, especially with regards to crypto regulation and institutional acceptance. US President-elect Donald Trump made numerous pro-crypto pledges during his election campaign. Securities and Exchange Commission Chairman Gary Gensler is expected to be replaced by pro-crypto Paul Atkins, with the Solana bagholder set to become the new US crypto czar. Senator Cynthia Lummis has proposed a bill to require the US to buy Bitcoin as a strategic reserve asset, and institutional adoption continues to surge, with crypto exchange-traded funds (ETFs) hitting new records. Given these big changes, some believe the historic four-year Bitcoin cycle will be replaced by a supercycle where the asset will continue to rise. But don’t rely on it. Berniske warns that this could lead retail investors to miss out on profit-taking opportunities at market peaks. “The ‘supercycle’ is definitely a collective delusion.”Berniske acknowledges that “we may not see such a brutal bear market for BTC in the future due to possible ETF and government buy-ups,” but warns that “anything that goes 100x faster is vulnerable to at least an $80 crash.” Structurally speaking, -90% at one point — there are too many people resting on their gains. Berniske said it’s hard for people to understand how far crypto can fall. However, you can warn about that problem because you’ve likely sent your suitcase back during at least one cycle. “You’ve been there and you know it, so now you can teach them that.” Nothing is certain except death and taxes The knowledge you give them about what to buy and when to sell can lead investors to make even more common mistakes, says Berniske. When investors sell during a bull market, they can watch the coin continue to rise because no one can predict when the peak will occur. Berniske advises teaching new investors to resist FOMO and avoid reinvesting profits in search of further gains, which is “generally a terrible idea.” This technique is fraught with danger, because if the market suddenly crashes, investors may pay more tax on realized gains than the value of their assets left after the crash. To avoid falling into this FOMO trap, he recommends investing 12 to 18 months of cryptocurrency market gains in a traditional account that can pay some interest (cryptocurrency stablecoins carry additional risks). This set aside money…

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bitcoin
Bitcoin (BTC) $ 84,386.61
ethereum
Ethereum (ETH) $ 1,938.98
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.42
bnb
BNB (BNB) $ 603.75
solana
Solana (SOL) $ 135.09
usd-coin
USDC (USDC) $ 1.00
cardano
Cardano (ADA) $ 0.749293
dogecoin
Dogecoin (DOGE) $ 0.176927
tron
TRON (TRX) $ 0.222982
staked-ether
Lido Staked Ether (STETH) $ 1,935.62
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 84,203.56
pi-network
Pi Network (PI) $ 1.46
leo-token
LEO Token (LEO) $ 9.75
chainlink
Chainlink (LINK) $ 14.04
stellar
Stellar (XLM) $ 0.275573
the-open-network
Toncoin (TON) $ 3.43
wrapped-steth
Wrapped stETH (WSTETH) $ 2,317.02
usds
USDS (USDS) $ 0.999809
hedera-hashgraph
Hedera (HBAR) $ 0.192646
avalanche-2
Avalanche (AVAX) $ 18.55
shiba-inu
Shiba Inu (SHIB) $ 0.000013
sui
Sui (SUI) $ 2.37
litecoin
Litecoin (LTC) $ 92.74
bitcoin-cash
Bitcoin Cash (BCH) $ 340.59
polkadot
Polkadot (DOT) $ 4.37
mantra-dao
MANTRA (OM) $ 6.58
ethena-usde
Ethena USDe (USDE) $ 1.00
weth
WETH (WETH) $ 1,938.30
bitget-token
Bitget Token (BGB) $ 4.48
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
hyperliquid
Hyperliquid (HYPE) $ 14.60
whitebit
WhiteBIT Coin (WBT) $ 28.85
wrapped-eeth
Wrapped eETH (WEETH) $ 2,058.00
monero
Monero (XMR) $ 210.30
uniswap
Uniswap (UNI) $ 6.13
susds
sUSDS (SUSDS) $ 1.04
aptos
Aptos (APT) $ 5.34
dai
Dai (DAI) $ 0.999849
near
NEAR Protocol (NEAR) $ 2.65
pepe
Pepe (PEPE) $ 0.000007
okb
OKB (OKB) $ 46.47
internet-computer
Internet Computer (ICP) $ 5.76
ondo-finance
Ondo (ONDO) $ 0.873679
ethereum-classic
Ethereum Classic (ETC) $ 18.01
gatechain-token
Gate (GT) $ 21.56
aave
Aave (AAVE) $ 173.89
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 84,370.61
mantle
Mantle (MNT) $ 0.745900
official-trump
Official Trump (TRUMP) $ 12.18
bitcoin
Bitcoin (BTC) $ 84,386.61
ethereum
Ethereum (ETH) $ 1,938.98
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.42
bnb
BNB (BNB) $ 603.75
solana
Solana (SOL) $ 135.09
usd-coin
USDC (USDC) $ 1.00
cardano
Cardano (ADA) $ 0.749293
dogecoin
Dogecoin (DOGE) $ 0.176927
tron
TRON (TRX) $ 0.222982
staked-ether
Lido Staked Ether (STETH) $ 1,935.62
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 84,203.56
pi-network
Pi Network (PI) $ 1.46
leo-token
LEO Token (LEO) $ 9.75
chainlink
Chainlink (LINK) $ 14.04
stellar
Stellar (XLM) $ 0.275573
the-open-network
Toncoin (TON) $ 3.43
wrapped-steth
Wrapped stETH (WSTETH) $ 2,317.02
usds
USDS (USDS) $ 0.999809
hedera-hashgraph
Hedera (HBAR) $ 0.192646
avalanche-2
Avalanche (AVAX) $ 18.55
shiba-inu
Shiba Inu (SHIB) $ 0.000013
sui
Sui (SUI) $ 2.37
litecoin
Litecoin (LTC) $ 92.74
bitcoin-cash
Bitcoin Cash (BCH) $ 340.59
polkadot
Polkadot (DOT) $ 4.37
mantra-dao
MANTRA (OM) $ 6.58
ethena-usde
Ethena USDe (USDE) $ 1.00
weth
WETH (WETH) $ 1,938.30
bitget-token
Bitget Token (BGB) $ 4.48
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
hyperliquid
Hyperliquid (HYPE) $ 14.60
whitebit
WhiteBIT Coin (WBT) $ 28.85
wrapped-eeth
Wrapped eETH (WEETH) $ 2,058.00
monero
Monero (XMR) $ 210.30
uniswap
Uniswap (UNI) $ 6.13
susds
sUSDS (SUSDS) $ 1.04
aptos
Aptos (APT) $ 5.34
dai
Dai (DAI) $ 0.999849
near
NEAR Protocol (NEAR) $ 2.65
pepe
Pepe (PEPE) $ 0.000007
okb
OKB (OKB) $ 46.47
internet-computer
Internet Computer (ICP) $ 5.76
ondo-finance
Ondo (ONDO) $ 0.873679
ethereum-classic
Ethereum Classic (ETC) $ 18.01
gatechain-token
Gate (GT) $ 21.56
aave
Aave (AAVE) $ 173.89
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 84,370.61
mantle
Mantle (MNT) $ 0.745900
official-trump
Official Trump (TRUMP) $ 12.18