NewsBriefs - Arthur Hayes foresees major crypto sell-off at Trump's inauguration

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• Dec 18, 4:35 PM CoinDesk

  Solana sets new transaction record with 66.9M in a day following PENGU token debut

  The Solana blockchain registered a new record of 66.9 million transactions in a single day, coinciding with the launch of the PENGU token by the Pudgy Penguins NFT project. This milestone, the highest since Solana's launch in 2020, surpassed the combined transactions of all other major blockchains. Solana also led in daily decentralized exchange trading volume and daily active addresses, though it lagged behind others like Base, Ethereum, and Tron in stablecoin transfer volume. Despite some fluctuations in the market value of PENGU and the SOL token, Solana remains a popular choice among retail investors for trading memecoins, NFTs, and other smaller tokens.

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• Dec 18, 11:30 AM CoinDesk

  Binance sparks unintended gains and losses with false alpha watchlist tokens

  Binance inadvertently triggered market volatility by posting a misleading list of crypto tokens on its Telegram channel, leading to quick gains and subsequent losses for traders. The tokens such as Wise Monkey (MONKY) and Happy Cat (HAPPY) surged in value following the initial announcement, only to plummet after Binance declared the posted information false. The fluctuations resulted in substantial financial impacts, including a significant loss for one trader.

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• Dec 18, 8:36 AM The Block

  Arthur Hayes foresees major crypto sell-off at Trump's inauguration

  Arthur Hayes, former CEO of BitMEX and current CIO of Maelstrom, predicts that the gap between high market expectations for Donald Trump's administration and the political reality will cause a significant crypto sell-off around Trump's inauguration on January 20, 2025. Despite a steep rise in Bitcoin prices following Trump's electoral win and promises of favorable crypto regulations, Hayes highlights the limited time Trump has to enact major policy changes, expecting a market realization and subsequent sell-off. Hayes plans to reduce his firm's crypto holdings in anticipation of the market downturn.

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• Dec 17, 10:58 PM The Block

  Coinbase counters BiT Global lawsuit challenging delisting of wBTC

  Coinbase responded to a lawsuit from Justin Sun-affiliated BiT Global seeking to prevent the delisting of wBTC from the exchange. The response highlights lack of merit in BiT Global's claims and insists that concerns about Sun's involvement justify the delisting decision. This lawsuit follows the transition in custody of the wBTC tokens to BiT Global and its implications for the token's regulatory standing and operational stability. Meanwhile, Coinbase has cited compliance and risks related to Sun's alleged financial misconduct as reasons for the wBTC delisting, planned for December 19.

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• Dec 17, 9:30 PM Blockworks

  Bitwise launches Solana staking ETP in Europe with Marinade as provider

  Bitwise has introduced a Solana staking ETP in Europe, under the ticker BSOL, partnering with Marinade as its staking provider. This development follows Bitwise's recent indication of their intention to launch a Solana ETF in the US, which could potentially include staking rewards pending regulatory changes. Unlike the current US solana ETF applications, the European BSOL ETP includes staking rewards, offering an annual staking return rate significantly higher than Ethereum's average. The expectation is that this move could be a precursor to similar offerings in the US market if regulatory perspectives shift.

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• Dec 17, 2:13 PM Blockworks

  Hyperliquid's HYPE token sets record with largest crypto airdrop by value

  Hyperliquid's HYPE token has become the largest airdrop in crypto history by paper value, surpassing Uniswap's UNI airdrop. Initially, 310 million tokens were allocated, with 270.94 million claimed so far. The value of tokens distributed reached approximately $7.6 billion, overtaking UNI's peak value of $6.4 billion. HYPE's market cap is now $9 billion with a fully diluted value of $27 billion. Recent price increases have seen HYPE trippling from $3.81 to $28.

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• Dec 17, 12:13 PM Bybit

  Bybit to cease crypto services in France by January 2025 due to regulatory pressures

  Bybit, a leading global crypto exchange, announced it is halting withdrawal and custody services for French users effective January 8, 2025, due to increased regulatory scrutiny from French authorities. Users are urged to withdraw their assets before the deadline. Those with assets above 10 USD Coin will have their holdings transferred to Coinhouse, a licensed crypto custodian in France, after completing a verification process. Bybit will deduct a termination fee equivalent to 10 USDC from accounts with balances under this amount. The initiatives reflect broader legislative moves to tighten control over crypto services.

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• Dec 17, 6:22 AM Crypto Quant Quicktake

  Bitcoin price ascends as spot market demand strengthens

  Bitcoin's price has continued its upward trajectory primarily driven by increased demand in the spot market. While futures market activity has cooled, spot market buying pressure persists, suggesting robust growth potential for the crypto. The 30-day exponential moving average (EMA) indicates that there are no signs of late-cycle overheating, signaling further potentially sustainable growth for Bitcoin.

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• Dec 17, 4:44 AM The Block

  LastPass threat actor steals $5.4 million in crypto from multiple wallets, says ZachXBT

  A threat actor associated with LastPass has stolen approximately $5.36 million from over 40 crypto wallets by converting the assets to ETH and then transferring them to various instant exchanges for conversion to Bitcoin. This latest security breach is linked to a significant 2022 hacking incident involving LastPass, which compromised sensitive data including API tokens and MFA seeds. Blockchain investigator ZachXBT warns users who stored their seed phrases or keys in LastPass to urgently move their crypto assets.

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• Dec 16, 9:30 PM Blockworks

  ai16z AI agent dev forms research partnership with Stanford to explore AI in crypto

  Eliza Labs, developers of the ai16z AI agent platform, has partnered with Stanford University's Future of Digital Currency Initiative to conduct research on digital currencies and AI agent interaction. This collaboration will focus on developing trust mechanisms for AI agents and exploring governance models among them. The lab, funded by Eliza Labs, sees leadership from Stanford professors and contributions from highly paid memberships within the crypto industry.

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• Dec 16, 7:11 PM Cointelegraph

  Bitcoin reaches new all-time high above $107,700, propelled by robust spot volumes

  Bitcoin reached a new all-time high of over $107,700 on December 16, fueled by increased spot trading volumes and significant buying during the US session. Notable company purchases and strong inflows into spot Bitcoin ETFs also contributed to this surge. Analysts predict the price may hit $115,000 next, driven by ETF fund flows.

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• Dec 16, 7:00 PM Pixels

  Pixels partners with Crack and Stack to launch Pixel Dungeons, expanding $PIXEL token utility

  Pixels, recognized as the most popular Web3 game based on daily active players, announced a collaboration with Crack and Stack to develop and launch a new game, Pixel Dungeons. This initiative will enhance the utility of the $PIXEL token and integrate Pixels' Reputation System, which rewards players based on their in-game actions and token holdings. The newly introduced game features a competitive play-to-earn model, where players can earn $PIXEL tokens by navigating dungeons, battling opponents, and avoiding traps. Pixels aims to leverage this partnership to expand its user base and increase token use in their gaming ecosystem, aligning with their strategic focus on monetizing and growing visibility in the Web3 gaming sector.

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• Dec 16, 6:11 PM The Block

  TD Cowen predicts SEC to adopt crypto rules under Republican majority

  TD Cowen anticipates that the US Securities and Exchange Commission (SEC) may see the departure of key Democratic commissioners, leading to an all-Republican leadership possibly advancing crypto regulations more swiftly. The firm indicated the political shift may speed up rule adoption but warned that the lack of bipartisan support could undermine rule stability and future bipartisan regulation.

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• Dec 16, 4:02 PM The Block

  Riot Platforms increases Bitcoin holdings to 17,429 BTC using bond proceeds

  Riot Platforms has expanded its Bitcoin holdings to 17,429 BTC, valued at roughly $1.8 billion, by using $594 million from a convertible bond issue. The company acquired 667 BTC at an average price of $101,135 each, adding to the 5,117 BTC previously purchased. Despite a 25% decline in its stock this year due to profitability challenges post-Bitcoin halving, the stock rebounded following news of a stake purchase by activist hedge fund Starboard Value.

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• Dec 14, 12:44 PM Cointelegraph

  Coinbase addresses $1 billion lawsuit over wBTC delisting and its own cbBTC token

  Coinbase is facing a $1 billion lawsuit from BiT Global Digital, alleging anticompetitive behavior involving the delisting of Wrapped Bitcoin (WBTC) to favor its own Coinbase BTC (cbBTC). The lawsuit claims Coinbase's decision undermines wBTC's market position, violating US antitrust laws. In response, Coinbase's chief legal officer defended the company's stringent listing standards and decision-making process.

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