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According to Fox Business, major cryptocurrency companies have entered the political arena by making significant donations to Donald Trump’s inauguration fund, with the three largest companies alone contributing $7 million.
Exchanges Coinbase and Kraken have each donated $1 million to Trump’s inauguration committee and his vice president, J.D. Vance. Ripple has also pledged $5 million in XRP tokens to the committee.
Kara Calvert, Coinbase’s vice president of policy in the US, said the company is committed to working with the US government and both parties to create regulatory transparency in the cryptocurrency space.
Arjun Sethi, co-CEO of Kraken, also said that this is the first time a president has taken office who understands the potential of new technologies.
Exchanges Coinbase and Kraken have each donated $1 million to Trump’s inauguration committee and his vice president, J.D. Vance. Ripple has also pledged $5 million in XRP tokens to the committee.
Kara Calvert, Coinbase’s vice president of policy in the US, said the company is committed to working with the US government and both parties to create regulatory transparency in the cryptocurrency space.
Arjun Sethi, co-CEO of Kraken, also said that this is the first time a president has taken office who understands the potential of new technologies.
Cardano founder Charles Hoskinson spoke in a livestream about the disagreements with the Cardano Foundation and the strategic priorities for 2025. He emphasized that the main problem is the foundation’s governance structure, which is not accountable to the Cardano community.
Hoskinson claimed that after the intervention of the Swiss financial regulator, the country’s government has effectively appointed a new board of directors and has de facto control over the Cardano Foundation.
For 2025, he emphasized the adoption of a community-approved constitution and the creation of an annual on-chain budget. Hoskinson also announced Cardano’s future plans, including Bitcoin integration, improvements to the Lace wallet, and the launch of the Midnight sidechain, which he said will be the biggest economic event in the history of the Cardano ecosystem.
Hoskinson claimed that after the intervention of the Swiss financial regulator, the country’s government has effectively appointed a new board of directors and has de facto control over the Cardano Foundation.
For 2025, he emphasized the adoption of a community-approved constitution and the creation of an annual on-chain budget. Hoskinson also announced Cardano’s future plans, including Bitcoin integration, improvements to the Lace wallet, and the launch of the Midnight sidechain, which he said will be the biggest economic event in the history of the Cardano ecosystem.
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Michael Saylor Ready to Advise Trump on Crypto
Michael Saylor, founder and chairman of MicroStrategy, said in an interview with Bloomberg that he is ready to advise the incoming administration of Donald Trump on cryptocurrency.
The announcement comes as David Sacks is appointed as the White House’s first director of artificial intelligence and cryptocurrency.
MicroStrategy, which is on track to see its stock rise 500% in 2024, now has $7.2 billion in convertible notes and is pursuing an ambitious plan to raise $42 billion to buy Bitcoin (BTC).
Michael Saylor, founder and chairman of MicroStrategy, said in an interview with Bloomberg that he is ready to advise the incoming administration of Donald Trump on cryptocurrency.
The announcement comes as David Sacks is appointed as the White House’s first director of artificial intelligence and cryptocurrency.
MicroStrategy, which is on track to see its stock rise 500% in 2024, now has $7.2 billion in convertible notes and is pursuing an ambitious plan to raise $42 billion to buy Bitcoin (BTC).
Bitcoin price drops after US Federal Reserve chairman's remarks
The price of Bitcoin (BTC) fell significantly after US Federal Reserve Chairman Jerome Powell said the institution has legal restrictions on holding digital currency.
Powell, who attended a press conference after the interest rate cut, emphasized that current laws do not allow the Federal Reserve to hold Bitcoin and that the institution is not looking to change the law.
These statements caused the price of Bitcoin to fall from around $103,700 to $100,241 in less than an hour.
The price of Bitcoin (BTC) fell significantly after US Federal Reserve Chairman Jerome Powell said the institution has legal restrictions on holding digital currency.
Powell, who attended a press conference after the interest rate cut, emphasized that current laws do not allow the Federal Reserve to hold Bitcoin and that the institution is not looking to change the law.
These statements caused the price of Bitcoin to fall from around $103,700 to $100,241 in less than an hour.
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FTX creditors to receive payments in January
Bankrupt exchange FTX announced that it will implement a court-approved restructuring plan starting January 3, 2025, and will begin the first phase of repayments to creditors within 60 days.
Under the plan, which will be implemented in partnership with exchanges BitGo and Kraken, about 98% of creditors’ claims will be paid.
Creditors can receive their funds via dollar wire or stablecoin.
The news sent the price of FTX Token (FTT) up 10%, although the token is still 96% off its all-time high in 2021.
Bankrupt exchange FTX announced that it will implement a court-approved restructuring plan starting January 3, 2025, and will begin the first phase of repayments to creditors within 60 days.
Under the plan, which will be implemented in partnership with exchanges BitGo and Kraken, about 98% of creditors’ claims will be paid.
Creditors can receive their funds via dollar wire or stablecoin.
The news sent the price of FTX Token (FTT) up 10%, although the token is still 96% off its all-time high in 2021.
Bitcoin Hits $106,000 Record
Bitcoin hit an all-time high of $106,488 this morning. The surge came after US President-elect Donald Trump announced the creation of a strategic bitcoin reserve. “We’re going to do a big thing with cryptocurrencies … we want to be ahead of the competition,” Trump said at the New York Stock Exchange.
The move was bolstered by Republican Senator Cynthia Loomis’s support for the Bitcoin Act, which aims to buy one million bitcoins over five years. The move has garnered global attention, with Vladimir Putin even hinting at the possibility of a bitcoin reserve in Russia.
MicroStrategy also bought 21,550 bitcoins worth $2.1 billion, bringing its holdings to 423,650 bitcoins, while US bitcoin ETFs have attracted more than $50 billion in the past year.
Bitcoin hit an all-time high of $106,488 this morning. The surge came after US President-elect Donald Trump announced the creation of a strategic bitcoin reserve. “We’re going to do a big thing with cryptocurrencies … we want to be ahead of the competition,” Trump said at the New York Stock Exchange.
The move was bolstered by Republican Senator Cynthia Loomis’s support for the Bitcoin Act, which aims to buy one million bitcoins over five years. The move has garnered global attention, with Vladimir Putin even hinting at the possibility of a bitcoin reserve in Russia.
MicroStrategy also bought 21,550 bitcoins worth $2.1 billion, bringing its holdings to 423,650 bitcoins, while US bitcoin ETFs have attracted more than $50 billion in the past year.
Binance: Ethereum Dominance Hits All-Time Low Despite Uptrend
A recent Binance Research report titled “The Ethereum Value Debate” examines Ethereum’s role in the cryptocurrency ecosystem. While emphasizing Ethereum’s fundamental role in blockchain innovation, the report notes that its position is now under scrutiny due to the emergence of competitors and dynamic market developments. Despite advances such as the Dencun update and the approval of Ethereum ETFs in the US, Ethereum’s market dominance has fallen to a multi-year low of 13.1%.
Following the Dencun update, Ethereum revenue fell by 99%, driven by the growing popularity of Layer 2 solutions. The launch of Ethereum Spot ETFs in July 2024 initially attracted limited interest, but gained momentum after the US election, surpassing $1.7 billion in net inflows. However, Ethereum’s trading and search volumes have remained flat, lagging behind the growing activity of alternative Layer 1s such as Solana.
A recent Binance Research report titled “The Ethereum Value Debate” examines Ethereum’s role in the cryptocurrency ecosystem. While emphasizing Ethereum’s fundamental role in blockchain innovation, the report notes that its position is now under scrutiny due to the emergence of competitors and dynamic market developments. Despite advances such as the Dencun update and the approval of Ethereum ETFs in the US, Ethereum’s market dominance has fallen to a multi-year low of 13.1%.
Following the Dencun update, Ethereum revenue fell by 99%, driven by the growing popularity of Layer 2 solutions. The launch of Ethereum Spot ETFs in July 2024 initially attracted limited interest, but gained momentum after the US election, surpassing $1.7 billion in net inflows. However, Ethereum’s trading and search volumes have remained flat, lagging behind the growing activity of alternative Layer 1s such as Solana.
Donald Trump’s cryptocurrency holdings reach $16 million
According to a report by analytics firm Arkham Intelligence, Donald Trump’s cryptocurrency has increased in value by more than $6 million in just one day, reaching around $16.8 million.
His digital wallet contains various currencies such as Ethereum (ETH) and several other tokens, the most important of which is a token called TROG, which accounts for around $10.5 million of his total assets.
The important point here is that Trump himself has not yet officially confirmed the ownership of these assets, and it is possible that these tokens were released simply to attract attention to him.
According to a report by analytics firm Arkham Intelligence, Donald Trump’s cryptocurrency has increased in value by more than $6 million in just one day, reaching around $16.8 million.
His digital wallet contains various currencies such as Ethereum (ETH) and several other tokens, the most important of which is a token called TROG, which accounts for around $10.5 million of his total assets.
The important point here is that Trump himself has not yet officially confirmed the ownership of these assets, and it is possible that these tokens were released simply to attract attention to him.
Trump Says He Has Big Plans for Cryptocurrencies
US President-elect Donald Trump has made a brief but important announcement about cryptocurrencies.
He said he is going to do something big with cryptocurrencies in the future, but he did not explain exactly what he wants to do.
This news is important for the cryptocurrency market, because Trump has already shown that he supports cryptocurrencies and now that he is president, he can change the rules in favor of this market, of course, we have to wait and see what he means by big.
US President-elect Donald Trump has made a brief but important announcement about cryptocurrencies.
He said he is going to do something big with cryptocurrencies in the future, but he did not explain exactly what he wants to do.
This news is important for the cryptocurrency market, because Trump has already shown that he supports cryptocurrencies and now that he is president, he can change the rules in favor of this market, of course, we have to wait and see what he means by big.
Coinbase CEO Criticizes Top US Regulator
Coinbase CEO Brian Armstrong has sharply criticized Caroline A. Crenshaw, a top official at the US Securities and Exchange Commission (SEC), who is set to be voted on to continue in her role.
Armstrong wrote on social media platform X (formerly Twitter) that Crenshaw has failed to do her job and should not be reappointed. He says Crenshaw has tried to block the launch of Bitcoin (BTC) exchange-traded funds (ETFs) and has been even tougher on some issues than his boss, Gary Gensler.
Coinbase CEO Brian Armstrong has sharply criticized Caroline A. Crenshaw, a top official at the US Securities and Exchange Commission (SEC), who is set to be voted on to continue in her role.
Armstrong wrote on social media platform X (formerly Twitter) that Crenshaw has failed to do her job and should not be reappointed. He says Crenshaw has tried to block the launch of Bitcoin (BTC) exchange-traded funds (ETFs) and has been even tougher on some issues than his boss, Gary Gensler.
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Microstrategy owns more than 2% of the entire Bitcoin supply!
MicroStrategy recently bought a large amount of Bitcoin (BTC) and now has 423,650 BTC. This amount is more than 2% of all bitcoins in the world.
In its latest purchase, the company bought another 21,550 bitcoins worth $2.1 billion. In total, MicroStrategy has invested $25.6 billion in Bitcoin so far, buying an average of $60,324 per Bitcoin. This investment has been very profitable for the company and since the beginning of 2024, it has gained about 69%.
MicroStrategy recently bought a large amount of Bitcoin (BTC) and now has 423,650 BTC. This amount is more than 2% of all bitcoins in the world.
In its latest purchase, the company bought another 21,550 bitcoins worth $2.1 billion. In total, MicroStrategy has invested $25.6 billion in Bitcoin so far, buying an average of $60,324 per Bitcoin. This investment has been very profitable for the company and since the beginning of 2024, it has gained about 69%.
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Pay attention to these 3 popular digital currencies! Freeing $740 million in tokens this week
Aptos (APT), Starknet (STRK) and SEI (SEI) projects have announced plans for mass release of their locked tokens for next week. According to reports, Aptos will release 11.31 million APT tokens to community members, core contributors, and investors on December 11.
Also, StarNet and C will release 64 million and 55.56 million tokens on December 15 (Azar 25), respectively. In total, the value of tokens released next week, which also includes other projects such as Cardano (ADA), Etna (ENA) and Axi Infinity (AXS), will exceed $740 million.
Aptos (APT), Starknet (STRK) and SEI (SEI) projects have announced plans for mass release of their locked tokens for next week. According to reports, Aptos will release 11.31 million APT tokens to community members, core contributors, and investors on December 11.
Also, StarNet and C will release 64 million and 55.56 million tokens on December 15 (Azar 25), respectively. In total, the value of tokens released next week, which also includes other projects such as Cardano (ADA), Etna (ENA) and Axi Infinity (AXS), will exceed $740 million.
The arrest of the Russian digital currency king in Poland!
Polish police have arrested a 37-year-old Russian citizen linked to the defunct WEX exchange on charges of fraud and money laundering in Warsaw. The person, believed to be Dmitry Vasiliev, the former CEO of WEX, is facing an extradition request from the US Department of Justice.
Vasiliev was previously arrested in Poland in 2021, but after a few weeks he was released and returned to Russia. The WEX exchange, which succeeded the defunct BTC-e exchange, collapsed in 2018 when $450 million of client funds disappeared.
Alexey Bilyuchenko, Alexander Vinnik's partner in BTC-e, is said to be the actual manager of WEX. Belyuchenko was arrested in 2023 by US authorities for his role in BTC-e and the hacking of Mt. Gox was charged.
Polish police have arrested a 37-year-old Russian citizen linked to the defunct WEX exchange on charges of fraud and money laundering in Warsaw. The person, believed to be Dmitry Vasiliev, the former CEO of WEX, is facing an extradition request from the US Department of Justice.
Vasiliev was previously arrested in Poland in 2021, but after a few weeks he was released and returned to Russia. The WEX exchange, which succeeded the defunct BTC-e exchange, collapsed in 2018 when $450 million of client funds disappeared.
Alexey Bilyuchenko, Alexander Vinnik's partner in BTC-e, is said to be the actual manager of WEX. Belyuchenko was arrested in 2023 by US authorities for his role in BTC-e and the hacking of Mt. Gox was charged.
A huge amount of capital was liquidated during the extreme fluctuations of the last 24 hours
According to market data, in the last 24 hours, extreme price swings in the digital currency market caused traders to suffer huge losses.
This loss happened in two stages: first $100 million in one hour and then $450 million in another hour, totaling $550 million.
This shows that the digital currency market is very risky and price changes can be very fast and severe. Especially leveraged traders can suffer huge losses in a short period of time.
According to market data, in the last 24 hours, extreme price swings in the digital currency market caused traders to suffer huge losses.
This loss happened in two stages: first $100 million in one hour and then $450 million in another hour, totaling $550 million.
This shows that the digital currency market is very risky and price changes can be very fast and severe. Especially leveraged traders can suffer huge losses in a short period of time.
The manager of a large exchange: the price of Bitcoin can reach one million dollars in the next 5 years
Arthur Hayes, billionaire and founder of the BitMEX digital currency exchange, says that the price of Bitcoin (BTC) can reach $1 million in the next 5 years. This means about 10 times the current price, which is about 95 thousand dollars.
He believes that governments continue to print money because they can't reduce their spending, they can't raise taxes, and they have to print more money to pay off their debts.
Hayes also mentions a historical point: Bitcoin was created right at the time of the 2008 financial crisis, and in his opinion, this was not a coincidence, and Bitcoin was created to deal with the problems of the current financial system.
Arthur Hayes, billionaire and founder of the BitMEX digital currency exchange, says that the price of Bitcoin (BTC) can reach $1 million in the next 5 years. This means about 10 times the current price, which is about 95 thousand dollars.
He believes that governments continue to print money because they can't reduce their spending, they can't raise taxes, and they have to print more money to pay off their debts.
Hayes also mentions a historical point: Bitcoin was created right at the time of the 2008 financial crisis, and in his opinion, this was not a coincidence, and Bitcoin was created to deal with the problems of the current financial system.
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Plan B: Bitcoin price will reach $250,000 to $1 million
In a new video, famous cryptocurrency analyst PlanB predicts that Bitcoin will reach a value between $250,000 and $1 million in the current bullish cycle. He makes this claim citing his famous accumulation-to-flow (S2F) model, which is used to predict asset performance based on scarcity.
Planbe believes that after the halving of 2024, like in previous periods, a strong upward trend will begin. He emphasizes that this forecast is not exact, but he expects the average price to be within this range over the 4-year period.
The analyst also notes that his forecast is higher than many other models who estimate the peak price to be between $200,000 and $300,000.
In a new video, famous cryptocurrency analyst PlanB predicts that Bitcoin will reach a value between $250,000 and $1 million in the current bullish cycle. He makes this claim citing his famous accumulation-to-flow (S2F) model, which is used to predict asset performance based on scarcity.
Planbe believes that after the halving of 2024, like in previous periods, a strong upward trend will begin. He emphasizes that this forecast is not exact, but he expects the average price to be within this range over the 4-year period.
The analyst also notes that his forecast is higher than many other models who estimate the peak price to be between $200,000 and $300,000.
Vladimir Putin signed a new law on taxation of Bitcoin and digital currencies
Russian President Vladimir Putin has signed a law that creates a new legal framework for taxing Bitcoin and other digital currencies.
According to this law, digital currencies are classified as assets and their extraction and sale will be exempt from value added tax. Mining infrastructure operators must report their users' information to tax authorities.
The income from mining is considered as "non-cash income" and will be subject to progressive taxation. The income from the purchase and sale of digital currencies up to 2.4 million rubles will be taxed at 13% and beyond that at 15%.
Starting in 2025, Bitcoin mining companies will pay a 25% tax. This law imposes restrictions on the tax regimes of organizations and entrepreneurs active in the field of digital currencies.
Russian President Vladimir Putin has signed a law that creates a new legal framework for taxing Bitcoin and other digital currencies.
According to this law, digital currencies are classified as assets and their extraction and sale will be exempt from value added tax. Mining infrastructure operators must report their users' information to tax authorities.
The income from mining is considered as "non-cash income" and will be subject to progressive taxation. The income from the purchase and sale of digital currencies up to 2.4 million rubles will be taxed at 13% and beyond that at 15%.
Starting in 2025, Bitcoin mining companies will pay a 25% tax. This law imposes restrictions on the tax regimes of organizations and entrepreneurs active in the field of digital currencies.