In a press release shared with Cryptowisser, KuCoin said this  innovative system bridges the gap between traditional retail and crypto, offering contactless, secure, and borderless transactions. Leveraging KuCoin’s robust infrastructure—trusted globally and serving over 37M users - KuCoin Pay is poised to open new opportunities for merchants and users to thrive in the evolving digital economy.

The crypto exchange added that KuCoin Pay seeks to reduce transaction fees and facilitate immediate settlement of crypto payments, simplifying the process for businesses to manage transactions efficiently. The platform supports an extensive range of cryptocurrencies and blockchain networks, significantly broadening the global payments reach.

For merchants, leveraging KuCoin Pay is easy. They can simply integrate KuCoin Pay into their payment systems, allowing customers to complete purchases through KuCoin by scanning a QR code or via the KuCoin app. This integration ensures a frictionless checkout experience, fostering greater consumer confidence and satisfaction.

Furthermore, KuCoin Pay is integrated within the KuCoin app, enabling businesses to tap into KuCoin’s extensive user base while simplifying the buying process for everyday items for users. Daily requests like gift cards and mobile top-ups can be made seamlessly, further promoting widespread crypto adoption.

KuCoin pointed out that this solution represents a major milestone in driving the mainstream adoption of crypto and marks a pivotal step in KuCoin’s ongoing commitment to enriching the blockchain ecosystem.

Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. 

With a connected user base exceeding 37 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as "Best Crypto Apps & Exchanges" by Forbes and has been recognized among the "Top 50 Global Unicorns" by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.

The feature, designed to integrate seamlessly with existing payment systems, supports 54 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and stablecoins like USDT and USDC. By launching this tool, KuCoin joins other crypto payment providers working to bridge the gap between digital currencies and the traditional financial system.

Several merchants are set to adopt KuCoin Pay starting in January, though their identities remain undisclosed. The launch follows a similar move by Flexa in August, which partnered with major retailers like Chipotle and Regal Cinemas to enable crypto payments.

This new feature continues to bridge the gap between crypto and traditional payments. Less than six months ago, KuCoin announced a partnership with Solartrip, a leading travel agency. This partnership integrated their sites and arranged cashback deals for KuCard users.

The move follows the implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulation, which came into full effect on December 30, 2023. The new regulation gives banks in the EU the green light to offer crypto trading services with greater regulatory clarity, and Garanti BBVA's partnership with Bit2Me marks a significant step forward in Europe’s crypto adoption.

European Banks Poised to Follow Suit

According to Abel Peña, Chief Sales Officer at Bit2Me, more than 50 financial institutions across Europe and internationally are preparing to offer crypto trading services in 2025. Peña anticipates a surge in bank offerings starting in the first quarter of 2025. "We are in very close contact with banks, and they will begin launching their services soon," he said. The regulatory certainty provided by MiCA is a key factor driving this shift, alongside the growing demand for crypto exposure, particularly Bitcoin (BTC) and Ethereum (ETH), among institutional investors.

BBVA, which held $857 billion in assets in 2023, is one of the largest banks to embrace crypto, signaling that the sector’s interest in digital assets is only set to grow. This move follows similar steps by other European giants like Deutsche Bank and Société Générale, which have been exploring blockchain and crypto services.

In its report, DWF Labs highlighted that the rise of memecoins marks a distinct departure from conventional financial assets, embodying a unique intersection of social dynamics, technological innovation, and market psychology.

Although memecoins began as a satirical commentary on cryptocurrency with Dogecoin has evolved into a sophisticated market vertical that attracts significant capital flows and institutional attention.

The report added that the memecoin market had a market cap of roughly $20 billion at the start of 2024 but grew to $120 billion by December 2024, representing a 500% increase within 12 months.

The emergence of blockchain technology has disrupted public offerings as smart contracts have eliminated many functions traditionally performed by financial intermediaries and regulatory gatekeepers.

The traditional barriers between creators and markets have dissolved, replaced by systems and decentralized mechanisms that enable rapid deployment and community formation. This shift has been particularly evident in the memecoin sector, where the fusion of social dynamics and financial markets has created unprecedented opportunities for value generation.

The Memecoin Cycle

The memecoin creation lifecycle begins with technological accessibility. The journey begins when a creator accesses platforms like pump.fun or gra.fun. These platforms

have transformed what was once a complex technical process into a streamlined experience. 

The platform(s) handles the technical complexity of deployment, smart contract verification, and initial liquidity provision. What previously required weeks of development and significant capital can now be accomplished in under an hour with minimal initial investment, dramatically lowering the barriers to entry for creation in digital markets.

Once the token is deployed, the focus shifts to community building. The creator typically

establishes a presence across multiple social platforms simultaneously, for example:

• Twitter/X - becomes the primary channel for narrative building and public engagement.

• Telegram groups serve as a platform for community coordination and communication.

• Discord channels provide structured spaces for deeper community engagement and technical discussions. This multi-platform approach ensures broad reach while maintaining focused community development.

As the community forms, three distinct but interconnected types of capital begin to develop and reinforce each other. Social Capital grows through community engagement metrics, influencer adoption, and network effects.

The third phase is decentralized trading, where financial capital, through mediums such as optimized liquidity deployment and automated market makers, creates markets for tokens to be traded among participants.

Market tools and social media then help participants sustain this growth through trend detection and sentiment analysis, creating a feedback loop that reinforces both social and financial capital.

Finally, the ecosystem becomes self-sustaining when community members take active roles in value creation. Community-driven marketing replaces traditional paid promotion. Creator and user-generated content maintains engagement and attracts new participants.

Popular Meme Ecosystems

Distinct categories within the memecoin ecosystem have spawned over time, generating value across various societal themes and trends and producing significant financial returns.

Dog, Cat, and Frog themes are the most popular within the memecoin ecosystems. Among established memecoins, projects like DOGE and SHIB proved the viability of meme-based assets, while newer entries like WIF demonstrated the market's continued appetite for well-executed thematic launches.

According to DWF Labs, the most compelling development has been the introduction of cross-vertical tokens that combine the viral nature of memes with utility. This is captured in AI-themed memecoins, where the cultural resonance of memes meets the transformative potential of artificial intelligence, creating a more sophisticated value proposition that appeals to both retail and institutional participants.

This convergence represents a significant maturation of the space - memecoins are no longer just about cultural phenomena; they have become a laboratory for experimenting with new forms of value creation that combine social coordination with actual use cases.

The report concluded that the memecoin phenomenon represents more than a temporary market trend; it signifies a fundamental shift in how value is created, perceived, and distributed in digital economies.

The growth of the memecoin sector from $20 billion to $120 billion in 2024 demonstrates that this is not a passing phenomenon but rather the emergence of a new asset class.

However, the challenge for market participants will be maintaining the creative, community-driven aspects that make memecoins unique while building sustainable structures that can support long-term growth.

The ambitious proposal, revealed by crypto advocate Dennis Porter during a Swiss panel discussion, requires gathering 100,000 signatures within an 18-month timeframe to trigger a national vote. The initiative has already entered the federal government review stage, indicating early procedural progress.

"Even collecting the 100,000 signatures within 18 months will be a huge victory for Bitcoin," Porter emphasized on social media. "It will result in every Canton-level member of Parliament becoming educated on Bitcoin." Porter, who serves as CEO of Satoshi Act Fund, acknowledges the challenge ahead but remains optimistic about the timing. "It will be a lot of work and I know it's a long-shot, but we need to be taking shots at the end zone now when we have the momentum."

Swiss National Bank Faces Growing Pressure on Bitcoin Adoption

This constitutional initiative coincides with a separate proposal submitted to the Swiss federal chancellery, aimed at requiring the Swiss National Bank (SNB) to include Bitcoin in its monetary reserves. However, the central bank has maintained a cautious stance. SNB Chairman Thomas Jordan expressed skepticism in April 2024, citing concerns about liquidity, sustainability, and trading flexibility of cryptocurrency reserves.

Despite the central bank's hesitation, Switzerland continues to demonstrate leadership in cryptocurrency adoption. Notably, the city of Lugano has emerged as a Bitcoin-friendly hub, with approximately 260 merchants accepting BTC payments. The municipality has further integrated cryptocurrency into its infrastructure by allowing residents to pay taxes using Bitcoin and Tether (USDT).

The timing of Kullmann's initiative appears strategic, following recent market developments and growing institutional interest in cryptocurrency. The proposal, submitted on December 5, represents the culmination of years of preparatory work by Swiss crypto advocates.

If successful, this initiative would make Switzerland the first nation to constitutionally recognize Bitcoin, potentially setting a precedent for other countries considering similar measures. While the path to constitutional amendment remains challenging, the initiative has already sparked important discussions about the future of monetary policy and digital assets in one of the world's leading financial centers.

The dispute traces back to early 2024, when Celsius initially sought $2 billion in damages from FTX, citing alleged "unsubstantiated and disparaging statements" by FTX executives that Celsius claimed accelerated its downfall. The company later shifted its strategy to focus on "preferential transfers," reducing its claim to $444 million while arguing that certain creditors received favorable treatment.

However, in December, Judge John Dorsey dismissed both versions of the claim. The court found that Celsius's original proof of claim contained only a cursory mention of potential preferential transfer investigations, deemed insufficient to support the claim. Additionally, the judge ruled against Celsius's July 2024 amended claims, citing multiple procedural deficiencies: lack of permission to amend, insufficient connection to original claims, unexplained filing delays, and potential disruption to FTX's reorganization process.

Celsius Progress: Major Creditor Payouts Complete as Legal Battles Continue

Despite these legal setbacks, Celsius has made significant progress in compensating its creditors. In August, the company completed a massive distribution of $2.53 billion to approximately 251,000 creditors, representing 93% of total claim value and reaching nearly two-thirds of eligible claimants. The payments, made in both cryptocurrency and cash, were calculated based on January 16 prices. The company further extended its compensation efforts in November, announcing an additional $127 million payout to creditors, fulfilling roughly 60% of their claims.

Meanwhile, the company's legal troubles have extended to its leadership. Former CEO Alex Mashinsky faced a significant legal reckoning last month, pleading guilty to charges of commodities fraud and price manipulation related to the Celsius token. The most serious charge carries a potential 20-year prison sentence, with sentencing scheduled for April 8, 2025.

This latest appeal marks another chapter in the complex unwinding of one of cryptocurrency's most prominent lending platforms, highlighting the ongoing challenges in resolving major crypto bankruptcies. As the case proceeds, it will likely set important precedents for how similar claims are handled in future cryptocurrency bankruptcy proceedings.

• Floki DAO has approved ETF funding in a unanimous vote.

Floki DAO Approves ETF Funding

The Floki DAO, a decentralized autonomous organization (DAO) that manages the Floki memecoin, has approved the funding of an upcoming Floki exchange-traded product (ETP).

The vote was unanimous, and the community approved to use a portion of the 16.3 billion Floki tokens from its community buyback wallet as liquidity for the ETP. 

The ETP is set to go live in the first quarter of the year. The Floki ETP will enable traditional financial investors in the European market exposure to the memecoin.

Its native FLOKI token is currently the 66th-largest cryptocurrency by market cap on CoinMarketCap. FLOK is up 4% in the last 24 hours and now trades at $0.0001836 per coin. 

Memecoins have been gaining popularity in the crypto space in recent years. CoinGecko revealed that memecoins were the second-best-performing crypto narrative of 2024, second only to the AI sector. Investors earned an average of 2,185% in ROI last year, just behind AI with 2,939%.

• Bitcoin is trading above $95k after adding 2% to its value on New Year’s Day.

• XRP leads the market charge after rallying 12% in the last 24 hours. 

BTC Tops $95k

The cryptocurrency market is off to a positive start in 2025. Bitcoin, the leading cryptocurrency by market cap, increased its value by 2% on New Year’s Day, allowing it to reclaim the $95k level.

At press time, Bitcoin’s price stands at $95,589 and could rally higher in the near term. There is no catalyst behind this surge, with the broader market surging higher. 

XRP, Ripple’s native coin, led the market charge after adding 12% to its value in the last 24 hours. The rally allowed XRP to hit $2.4, with a market cap of $137 billion. If XRP continues its rally, it could topple Tether’s USDT to become the third-largest cryptocurrency by market cap.

Other major altcoins are also in the green. Cardano’s ADA is up 10% in the last 24 hours and now trades at $0.9385. Solana (SOL) added 7% to its value, while Dogecoin (DOGE) is up 5%.

Ether, the second-largest cryptocurrency by market cap, reached $3,400 on Wednesday after adding 2% to its value. Thanks to the ongoing rally, the total cryptocurrency market cap increased by $120 billion and now stands at $3.36 trillion.

Heads up, crypto investors! The IRS is making BIG changes starting Jan 1, 2025, and if you don’t prep now, you could pay more in taxes or face penalties.

Here’s what you need to do before the year-end to avoid penalties, save money, and stay ahead of the game. 🧵

— Shehan (@TheCryptoCPA) December 15, 2024

Shehan Chandrasekera, Head of Tax Strategy at Cointracker, explained the relief on social media, noting that CeFi exchanges are not yet prepared to support Spec ID by the January 1, 2025, deadline. Without the relief, many crypto holders would have been forced into using FIFO, potentially leading to higher tax liabilities during asset sales—particularly problematic in a bull market when selling earlier, lower-cost assets could trigger larger capital gains.

Heads up, crypto investors! The IRS is making BIG changes starting Jan 1, 2025, and if you don’t prep now, you could pay more in taxes or face penalties.

Here’s what you need to do before the year-end to avoid penalties, save money, and stay ahead of the game. 🧵

— Shehan (@TheCryptoCPA) December 15, 2024

The temporary relief allows crypto holders to use their own records or tax software to track and identify the specific units being sold, instead of relying on FIFO by default. This flexibility will be available from January 1, 2025, through December 31, 2025. Starting in 2026, however, taxpayers will need to select an accounting method with their CeFi exchange or risk defaulting to FIFO.

Chandrasekera emphasized that no immediate action is required to benefit from this relief, but he advised users to ensure their CeFi exchange’s accounting method aligns with their crypto tax software to avoid discrepancies.

Banks are now required to track the identities of those involved in these activities, their sources of funds, and the frequency of their trades. This move strengthens China's already stringent anti-crypto policies, which have included a ban on crypto transactions since 2019.

China’s Continued Anti-Crypto Stance

Experts predict the new rules will further tighten China’s grip on crypto. Lawyer Liu Zhengyao noted that the regulations make it more difficult to circumvent forex laws by using crypto to exchange yuan for foreign currencies.

Despite its harsh stance on digital assets, China remains a significant player in the crypto world, holding around 194,000 BTC (worth about $18 billion). These assets were acquired through asset seizures linked to illicit activities, not active purchases.

• Terraform Labs co-founder Do Kwon has been extradited to the United States with the help of Interpol.

• Montenegro’s minister of justice signed off on Kwon’s extradition last week.

Do Kwon Extradited to the United States

Montenegro extradited Terraform Labs co-founder Do Kwon to the United States on Tuesday after the agreement was signed off last week. This is according to local news outlet Vijesti.

While citing a statement from Montenegro's Ministry of Justice, Vijesti reported that,

"Today, at the Podgorica Airport border crossing, South Korean citizen Kwon Do-Hyung, who was sought by two countries — South Korea and the United States — was extradited by the NCB Interpol Podgorica officials with the support of the special police unit.”

According to the report, Do Kwon was handed over to the U.S. authorities and FBI agents after a decision by the Ministry of Justice of Montenegro. The extradition comes following months of legal proceedings in Montenegro, where the former Terraform Labs co-founder faced extradition requests from the U.S. and South Korea.

Do Kwon will face criminal charges in the United States, including conspiracy to commit fraud related to securities transactions, money laundering, and electronic fraud. The charges relate to his role in the collapse of the Luna and TerraUSD coins in 2022, which resulted in billions of dollars in investor losses. 

The extradition came after the Minister of Justice of Montenegro, Bojan Božović, signed the order to have the Terraform Labs co-founder extradited to the United States last week. 

The Constitutional Court of Montenegro nullified Do Kwon’s transfer to South Korea. In September, the court ruled that the minister of justice had the final say on the extradition requests, ultimately leading to his extradition to the United States. 

According to the Ministry of Justice, the decision to extradite Do Kwon to the United States was based on several criteria, including the severity of the criminal offenses, the location of the crimes, the order of extradition requests, Kwon’s nationality, and the potential for further extradition.

• BTC is up nearly 2% in the last 24 hours, trading above $93k.

• Despite declining 13% from its all-time high, Bitcoin still rallied by 120% in 2024.

Bitcoin Trades Above $93k on New Year

The cryptocurrency market is starting the new year on a positive note as Bitcoin and major altcoins rallied over the last 24 hours. Bitcoin added nearly 2% to its value on Tuesday and now trades at $93,533 per coin.

Thanks to yesterday’s positive performance, Bitcoin increased its value by 120% in 2024. It began 2024 trading at $41k per coin but rallied to an all-time high of $108,268 before dipping below $100k in recent weeks.

Despite its recent pullback, market analysts expect Bitcoin to rally to a new all-time high in 2025. Galaxy Research said in a report last week that Bitcoin could likely reach new highs next year and will "test or best" $185,000 in the fourth quarter of 2025.

Alex Thorn, Galaxy's head of research, said, 

"A combination of institutional, corporate, and nation-state adoption will propel Bitcoin to new heights in 2025."

Meanwhile, Galaxy Research analysts predict Ether (ETH) will rise above $5,500 in the next 12 months. Thanks to yesterday’s positive performance, the total cryptocurrency market cap now stands at $3.27 trillion.

Furthermore, the default wallet option is now available, adding a preference setting to make Ronin Wallet the default wallet, enabling Ethereum DApps to prioritize Ronin Wallet when connecting if selected. The upgrade also contains various minor improvements and bug fixes.

Ronin Wallet is the crypto wallet developed for Axie Infinity. It operates on the Ronin blockchain, which works as a sidechain on the Ethereum network. The Ronin network makes it much cheaper to trade and breed Axies and greatly reduces the costs of playing Axie Infinity. RONIN is up 5% and currently trades at $1.962 per coin.

Blockchain Association CEO Kristin Smith argues the regulations are unconstitutional and could severely impact the US digital asset industry. The organization claims the rules violate the Administrative Procedure Act and raises privacy concerns, particularly for DeFi users and blockchain developers.

The IRS estimates these regulations will affect 650-875 DeFi brokers and up to 2.6 million US taxpayers. Under the new rules, platforms must begin collecting transaction data in 2026 for reporting the following year.

The transfer aligns with Tether's May 2023 commitment to invest up to 15% of its net realized operating profits in Bitcoin. This latest move positions Tether as the second-largest Bitcoin holder among private companies, surpassed only by Block.one's 140,000 BTC. When including public companies, Tether ranks third, with MicroStrategy leading the pack with 446,400 BTC.

Corporate office and State Bitcoin Adoption Accelerates

This expansion of Bitcoin holdings coincides with broader institutional adoption trends. Notable newcomers to Bitcoin treasury management include KULR Technology Group, which purchased 217.18 BTC for $21 million on December 16, resulting in a 40% surge in its stock price. Similarly, Quantum BioPharma diversified its treasury with a $1 million investment in digital assets on December 20.

Tether's investment strategy extends beyond Bitcoin. The company recently ventured into venture capital with a $2 million investment in Arcanum Capital's Emerging Technologies Fund II, focusing on Web3 projects. Additionally, Tether made a significant $775 million investment in the video-sharing platform Rumble.

The trend of institutional Bitcoin adoption has expanded to state governments. Ohio has joined Texas and Pennsylvania in considering Bitcoin for state treasury reserves. Texas's Strategic Bitcoin Reserve Act, introduced by Representative Giovanni Capriglione, proposes holding Bitcoin as a reserve asset for at least five years. Pennsylvania's legislation, introduced by Representative Mike Cabell, suggests allocating up to 10% of the state's balance sheet to Bitcoin.

Corporate entities continue to demonstrate strong interest in Bitcoin accumulation. MARA Holdings announced the acquisition of 11,774 BTC on December 10, while Riot Platforms plans to raise $500 million through private bonds to expand its Bitcoin reserves. These moves reflect growing institutional confidence in Bitcoin as a treasury asset amid its price appreciation, with the cryptocurrency reaching an all-time high of $108,000 in mid-December 2024.

This timing adjustment places the trial after the presidential transition, potentially influencing the regulatory landscape for cryptocurrency firms. The CFTC's case, initiated in June 2022, centers on allegations that Gemini provided misleading information during its 2017 Bitcoin futures contract proposal. The commission seeks various penalties, including financial sanctions and disgorgement of profits.

The trial's revised schedule coincides with broader developments in cryptocurrency regulation. As a new Congress convenes on January 3, pending legislation may reshape the regulatory framework shared between the CFTC and SEC. Current CFTC Chairman Rostin Behnam, despite his term extending to 2026, could face replacement under the new administration, potentially shifting the agency's enforcement approach.

Singapore Approval Strengthens Global Presence

Meanwhile, Gemini continues to strengthen its global presence, particularly in Asia. The company recently secured preliminary approval from Singapore's Monetary Authority (MAS) for cross-border money transfers and digital payment services. Singapore has emerged as Gemini's second-largest market globally, trailing only the United States among its operations in 70 countries.

Saad Ahmed, who leads Gemini's Asia-Pacific operations, emphasized Singapore's strategic importance: "While the US remains our largest market and global headquarters, Asia and Singapore in particular play a crucial role in our global strategy." The company plans to develop Singapore into its regional hub, building on its existing regulatory exemptions in the country.

This international expansion comes as Gemini navigates increased regulatory scrutiny in the US market. The company's growth strategy includes recent achievements like obtaining a crypto license from France's Autorite des marches financiers, demonstrating its commitment to operating within established regulatory frameworks across multiple jurisdictions.

• MicroStrategy has purchased another 2,138 BTC for $209 million at $97,837 per bitcoin.

• Bitcoin has dropped to the $92k region after losing 1% of its value.

MicroStrategy Buys More Bitcoins, BTC Dips to $92k

Michael Saylor-backed MicroStrategy has purchased bitcoins for the eighth consecutive week. The company announced this on Monday, December 30th. In his X post, Saylor revealed that MicroStrategy bought 2,138 BTC for $209 million at $97,837 per bitcoin and has achieved a BTC Yield of 47.8% QTD and 74.1% YTD.

MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin. $MSTR https://t.co/58aXM7g6u2

— Michael Saylor⚡️ (@saylor) December 30, 2024

The acquisition was funded through share sales under MicroStrategy’s at-the-market (ATM) program, for which they have $6.88 billion left on the ATM program. This latest development comes as MicroStrategy joined the Nasdaq 100 last week and currently ranks 57 with an index weighting of 0.38%.

Earlier this month, MicroStrategy spent another $1.5 billion to acquire 15,350 bitcoins.

BTC Dips to $92k

Bitcoin’s end-of-the-year poor performance continues as the world’s leading cryptocurrency by market cap lost 1% of its value on Monday. At press time, Bitcoin’s price stands at $92,719 and could dip lower if the bearish momentum continues.

Most altcoins are also in the red as the profit-taking continues. Ether is down 2% and now trades at $3,346 per coin. Cardano’s ADA is the worst performer among the top 10 cryptocurrencies by market cap, losing 3% of its value in the last 24 hours. 

With altcoins underperforming, the total cryptocurrency market cap dipped by $300 million to $3.24 trillion.

The partnership will allow Paystream to get Pyth’s reliable data feeds for their P2P engine and streaming module.

Pyth Network is an innovative decentralized oracle that sources financial market data from over 90 first-party publishers, including major exchanges and market-making firms worldwide. PYTH is down 6.5% in the last 24 hours and currently trades at $0.3504 per coin.

Fantom is building a programmable platform on a directed acyclic-graph-based distributed ledger. Its FTM coin is down 7% in the last 24 hours and is currently trading at $0.7267.

The Predictions and Lottery markets generated 56k CAKE ($143k) and 28k CAKE ($71k), respectively. The NFT marketplace generated 400 CAKE ($1000), down 13% from last week.

PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 3% today and is currently trading at $2.464.

This news comes as Hong Kong has accelerated its crypto currency regulation within a more competitive global crypto marketplace. This initiative has included the recent licensing of four additional cryptocurrency exchanges.  

Potential Benefits of the Bitcoin Reserve Proposal

Wu views Bitcoin as a strategic asset that could enhance Hong Kong's financial security by diversifying its reserve portfolio. He pointed out that Bitcoin is increasingly being adopted by countries and U.S. states as a hedge against inflation and excessive currency issuance, which could offer similar benefits to Hong Kong. Wu also emphasized that Hong Kong’s unique "one country, two systems" framework provides an opportunity to experiment with Bitcoin in a way that aligns with the city’s broader financial goals. 

While he acknowledged Bitcoin's inherent volatility and cybersecurity risks, he proposed a cautious approach, suggesting that the cryptocurrency be incorporated into the city’s reserves in a controlled, limited capacity. To further maximize the potential of Bitcoin holdings, Wu also proposed the creation of Bitcoin-based exchange-traded funds (ETFs), which could help unlock the value of the city's BTC reserves and stimulate further market activity.

Key Changes in the 2025 Crypto Taxation Regime:

• Increased Tax Rate: The 26% tax rate will apply to all crypto capital gains generated in 2025. Starting in 2026, the rate will rise to 33% on crypto capital gains, although this change could still be modified before it takes effect.
• Elimination of the €2,000 Exemption Threshold: The previously existing exemption for capital gains below €2,000 has been abolished. This means that, from 2025, all crypto capital gains—regardless of their amount—will be taxed at the full 26%.
• Revaluation Option at 18%: Article 26 introduces an option for crypto holders to pay a revaluation tax at 18% on the value of their holdings as of January 1, 2025. This tax can be paid in installments, providing some relief for those seeking to avoid the higher 26% capital gains tax in the future.

Public Reactions: Mixed Feelings About the New Measures

While some praised the government's decision to avoid a previously proposed 42% crypto tax increase, the removal of the €2,000 exemption threshold has sparked protests, especially among smaller crypto holders. The planned 33% tax rate for 2026 has also drawn criticism, with many questioning the justification for increasing the tax burden in a country already struggling with high taxes. Despite these concerns, the new law is set to take effect on January 1, 2025, marking a major shift in Italy's approach to cryptocurrency taxation.

On the other hand, Binance has been operational and licensed in Italy for more than two years. As the European Union’s third-largest economy, it is an important player when it comes to setting regulatory standards. 

The scammers' methodology is particularly cunning, involving detailed written interviews and seemingly legitimate questions about industry trends and regional expansion strategies. The scheme culminates in a request for video responses through the "Willo | Video Interviewing" platform, where technical difficulties are deliberately introduced to facilitate malware installation.

Cross-Platform Threat: The Technical Anatomy of the Attack

The malware attack operates under the guise of troubleshooting, instructing victims to "fix" supposed microphone or video access issues by clearing their browser cache and restarting Chrome. This seemingly innocent action delivers malicious software that provides backdoor access to victims' devices, enabling cryptocurrency theft across Mac, Windows, and Linux operating systems.

Monahan emphasizes that following the attackers' instructions inevitably leads to compromise, recommending complete system wiping for affected users. The scam's sophistication is evident in its ability to target multiple operating systems and its use of legitimate-appearing job listings for positions at well-known firms like Gemini and Kraken.

Industry Impact: 2024's Cyber Security Landscape

This recruitment scam emerges against a backdrop of significant industry-wide losses. In 2024, the cryptocurrency sector suffered $1.49 billion in losses from hacks and fraud, with hacks accounting for 98.1% ($1.47 billion) across 192 incidents. While this represents a 17% decrease from 2023, the sophistication of attacks has notably increased.

Two major incidents - DMM Bitcoin's $305 million private key breach and WazirX's $235 million multisig wallet compromise - accounted for over a third of total losses. DeFi protocols remained vulnerable, representing 51.4% of losses, while CeFi platforms saw a concerning 77.5% year-on-year increase in losses, reaching $726 million. Ethereum emerged as the most targeted blockchain, experiencing 104 incidents that comprised 44% of total chain losses.

The timing is particularly noteworthy, as it follows MicroStrategy's recent acquisition of 5,262 BTC for $561 million in late December. Market observers have picked up on this Sunday-to-Monday purchase pattern, leading to heightened anticipation for what could be the company's final Bitcoin purchase of 2024.

Corporate Evolution: From Share Expansion to Nasdaq 100 Milestone

MicroStrategy's ambitious cryptocurrency strategy has entered a new phase with two significant developments. First, the company filed a proxy statement with the SEC proposing a substantial increase in its share structure – planning to expand Class A common shares from 330 million to 10.33 billion and preferred shares from 5 million to 1.005 billion. This move appears designed to facilitate further Bitcoin acquisitions.

The company's recent inclusion in the Nasdaq 100 index represents a watershed moment for both MicroStrategy and the cryptocurrency sector. According to Cryptorush analysts, this achievement could trigger passive fund inflows of up to $2 billion, while simultaneously boosting the company's stock value and institutional visibility. Market experts view this development as a strong signal of cryptocurrency's growing mainstream acceptance and institutional adoption.

The dual impact of MicroStrategy's share expansion proposal and Nasdaq 100 inclusion has positioned the company for potentially significant growth, while also providing validation for Bitcoin as an institutional investment vehicle. As one Cryptorush analyst noted, this milestone represents more than just corporate success – it marks a potential turning point for the entire cryptocurrency industry.

• BTC reached the $99k level on Boxing Day but has since retraced and now trades around $93k per coin.

• The total crypto market cap has dipped by over 1% in the last 24 hours.

BTC Dips to $93k as Total Market Cap Declines

The cryptocurrency market was bearish over the weekend, with most coins and tokens down by more than 1%. Bitcoin, the leading cryptocurrency by market cap, lost 1% of its value in the last 24 hours and now trades at $93,656.

Its poor performance comes after rallying close to $100k on Boxing Day. Since trading at $99,800 on Boxing Day, Bitcoin has lost over 5% of its value, with several altcoins recording even greater losses.

Altcoins are not faring better. Ether, the second-largest cryptocurrency by market cap, is the best performer among the top 10 cryptocurrencies by market cap. ETH is up 1% in the last 24 hours to trade above $3,400.

Meanwhile, Ripple’s XRP is the worst performer among the leading cryptocurrencies after losing 5% of its value. At press time, XRP is trading at $2.07 per coin. 

Cardano (ADA), Tron (TRX), BNB, Solana (SOL), and Dogecoin (DOGE) are all down by more than 1% in the last 24 hours. 

With the broader market undergoing a correction, the total cryptocurrency market cap has lost $150 billion over the past few days. Since Bitcoin hit $99k on Boxing Day, the total crypto market cap has declined from $3.43 trillion to now stand at $3.27 trillion.

• Crypto exchange Bybit has been ordered to halt local operations in Malysis over registration failures. 

• Bybit is set to suspend its website, mobile app, and other digital trading platforms in the country.

Bybit Receives Order to Halt Operations in Malaysia

Malaysia’s Securities Commission (SC) announced on Friday that it has ordered Bybit, one of the leading cryptocurrency exchanges in the world, to halt local operations in the country.

The regulator placed an enforcement action against Bybit crypto exchange and its CEO, Ben Zhou, for operating in the country without proper registration. The company was given 14 business days to do so starting from Dec. 11 to suspend its website, mobile applications, or any other digital platforms in Malaysia.

The regulator said,

“This decision comes after concerns about the platform’s compliance with local regulatory requirements and protecting investors’ interests. The SC views this breach seriously, as operating a DAX without obtaining the SC’s registration as a Recognised Market Operator (RMO) is an offense under Section 7(1) of the Capital Markets and Services Act 2007.”

The Malaysian securities regulator also ordered Bybit to cease all advertising activities to Malaysian investors and discontinue its Telegram support group for Malaysians.

The regulator pointed out that Bybit has complied with the order as directed. It also reminded investors to only trade with registered platforms, as those trading with unregistered platforms are not protected under Malaysian securities laws and are exposed to higher risks of being victims of financial crimes.

This latest development comes as Bybit intensifies efforts to expand its services in Europe and Asia. In October, the company announced plans to obtain regulatory approval in Austria as part of its broader strategy to expand operations across key markets.

In September, Bybit also received a provisional license from Dubai's Virtual Asset Regulatory Authority (VARA), marking a significant step in its global expansion in the crypto sector.

The integration leverages Wormhole’s message-passing capabilities and Nuffle’s NUFF Protocol to enable native multichain restaking without asset bridging, connect any Layer 1 or Layer 2 to EigenLayer’s AVSs, and enhance capital efficiency through rapid multichain finality.

With this integration, users can stake assets from any supported chain with a simplified process, access EigenLayer’s ecosystem beyond Ethereum, benefit from rapid multichain finality, and maintain native token properties across chains. 

Wormhole is a decentralized bridge between blockchains that enables the transfer of assets and data across different blockchain networks. It aims to facilitate interoperability and expand the capabilities of blockchain technology. W is trading at $0.2953, up 1% in the last 24 hours.

SEED will also introduce on-chain features step by step, focusing on keeping players engaged after the TGE. Get ready for rewards and perks that last well beyond the current cycle. 

Sui is a Layer 1 blockchain designed to provide top-notch developer and user experiences backed by robust technological foundations. SUI is down 2% in the last 24 hours, trading at $4.1080 per coin. 

SushiSwap is a Decentralized Finance (DeFi) liquidity provision platform that aims to be an evolution of Uniswap. SUSHI is trading at $1.451, down 1% in the last 24 hours.

Unified BGB Token to Power Future Features and Ecosystem Growth

The newly unified BGB token will play a central role in the Bitget ecosystem, with plans for integration into Bitget Wallet's offerings, including the Fair Launchpool and multi-chain gas fee payments. Bitget envisions BGB becoming a core staking asset for mainstream lending and staking protocols, as well as enabling on-chain trading services across major decentralized finance networks. With a combined user base of over 100 million across both Bitget and Bitget Wallet, the move is expected to drive greater adoption of the BGB token in both the centralized and decentralized cryptocurrency markets.

Despite the broader market experiencing widespread declines, BGB has seen a remarkable price surge, gaining nearly 25% in just 24 hours and over 50% in the past week. At the time of writing, it is trading at $7.24. The merger will not impact the total supply of BGB, with the conversion rate set at approximately 11.68 BWB to 1 BGB. Bitget clarified that BWB-related services will be discontinued on the platform as of 4:00 PM China Standard Time (UTC+8) on December 27, 2024.

Bitwise and Strive ETFs to Focus on Bitcoin-Treasury Companies

Bitwise’s offering, the Bitwise Bitcoin Standard Corporations ETF, will invest in companies that hold more than 1,000 BTC in their treasuries. Unlike traditional ETFs, which are weighted by market capitalization, this fund will weight companies based on the value of their Bitcoin holdings, ensuring that firms with a significant portion of their balance sheet in Bitcoin are more heavily represented. This could give mid-sized companies with substantial Bitcoin investments more influence in the fund than larger firms with smaller BTC holdings.

Strive’s offering, the Strive Bitcoin Bond ETF, will invest in convertible securities, such as bonds issued by companies like MicroStrategy, that are focused on purchasing Bitcoin with the proceeds. Unlike Bitwise’s fund, Strive's ETF is non-diversified, meaning it could invest more heavily in specific issuers, depending on their Bitcoin adoption strategies.

The move is expected to drive further interest in the sector, as more companies look to Bitcoin as a store of value.

• Asset management firms Bitwise and Strive have filed for ETFs to invest in companies with Bitcoin treasuries.

• Strive was co-founded by Vivek Ramaswamy, who is slated to co-lead the Department of Government Efficiency (DOGE) alongside Elon Musk.

SEC Confirms Two New ETF Applications

The United States Securities and Exchange Commission (SEC) has confirmed in recent filings that two new ETFs seek to capitalize on the growing trend of corporations adopting Bitcoin treasuries.

The first ETF was filed by asset manager Bitwise, which already manages numerous cryptocurrency ETFs. The ETF would invest in companies that have adopted the Bitcoin standard. 

According to the prospectus, the companies with a Bitcoin standard hold more than 1,000 BTC and meet basic size and liquidity requirements: a market capitalization of over $100 million, average daily liquidity of over $1 million, and a public free float of less than 10%. 

Per the filing, the fund would be called the Bitwise Bitcoin Standard Corporations ETF, and shares in the companies will be bought by considering the value of their BTC holdings. 

The second filing was by Strive, an asset management firm co-founded by Vivek Ramaswamy. Vivek is set to co-lead the Department of Government Efficiency (DOGE) alongside Elon Musk.

The Strive Bitcoin Bond ETF explicitly mentions MicroStrategy. The fund will gain exposure to convertible securities issued by MicroStrategy Incorporated or other companies that Strive expects will invest all or a significant portion of the proceeds in purchasing Bitcoin (collectively, 'Bitcoin Bonds').

The Strive Bitcoin Bond ETF is classified as "non-diversified," implying that it may invest more in assets from a particular issuer without a specific weighting scheme.

CEO Paolo Ardoino emphasized the strategic importance of this investment, highlighting the critical need for resilient technology in today's uncertain geopolitical landscape. "In a world increasingly shaped by geopolitical tensions and macroeconomic uncertainty, the need for resilient technology to safeguard our freedoms has never been more crucial," he stated.

This investment aligns with Tether's broader diversification strategy, which includes recent initiatives such as a $45 million USDT-financed crude oil transaction and the development of the Hadron tokenization platform. The company has also demonstrated its commitment to digital freedom through a significant $775 million investment in Rumble, the free speech-focused video-sharing platform.

Strategic Partnership Strengthens Institutional Presence

In a significant development for the stablecoin issuer, Cantor Fitzgerald has acquired a 5% stake in Tether, valued at approximately $600 million. This partnership gains additional significance with Cantor Fitzgerald's CEO Howard Lutnick's potential appointment as Secretary of Commerce in the incoming administration.

The timing of this partnership is particularly strategic as Tether navigates regulatory challenges, including ongoing investigations from the U.S. Attorney's Office for the Southern District of New York. Giancarlo Devasini, Tether's largest shareholder, has reportedly expressed confidence in Lutnick's ability to address regulatory concerns effectively.

This combination of strategic investments and institutional partnerships positions Tether at the intersection of traditional finance and digital innovation, potentially reshaping the landscape of both sectors. As Lutnick prepares for his potential government role, his influence could prove instrumental in shaping the regulatory environment for digital assets.

GRIFFAIN's platform enables users to create and deploy customized AI agents for task automation, while ZEREBRO focuses on decentralized content creation and distribution through AI integration. Both futures contracts offer flexible leverage options ranging from 0.01x to 50x, with settlements in USDT and a contract size of 10.

Strategic Launch Features Special Trading Conditions

To ensure a smooth market introduction, OKX has implemented special conditions for both futures contracts. The exchange will cap funding fees at 0.03% until December 27, 4:00 PM UTC, after which the standard maximum rate of 1.5% will apply. Funding intervals are set at four hours, with the first adjusted fee scheduled for 8:00 PM UTC on launch day.

This expansion aligns with OKX's strategy to meet growing demand for AI-themed crypto assets, as the sector demonstrates strong market performance with a recent 4.68% increase in overall market capitalization, reaching $32.63 billion. The new futures will be accessible across OKX's web platform, mobile application, and API, providing traders with multiple access points to engage with these emerging AI projects.

Traders interested in these new offerings are advised to familiarize themselves with OKX's perpetual futures trading guidelines, as these contracts will follow the exchange's standard price limitation protocols. This launch represents a significant addition to OKX's growing portfolio of AI-focused trading products, reflecting the increasing convergence of artificial intelligence and cryptocurrency markets.

• Bitcoin rallied to the $99k level on Thursday before dipping below $95k.

• The broader crypto market recorded bigger losses.

BTC Fails to Hit $100k on Christmas Rally

Bitcoin, the leading cryptocurrency by market cap, rallied during the holidays. The coin rallied to the $99,800 mark on Boxing Day after trading below $93k earlier this week.

However, the rally failed to break past the $100k psychological level and is now trading below $97k again. At press time, Bitcoin’s price stands at $96,203, down more than 2% in the last 24 hours. 

Despite the recent retrace, Bitcoin’s price is still up more than 100% year-to-date, making it one of the best-performing macro assets globally. 

With Bitcoin briefly dropping below $96k, altcoins also recorded greater losses on Thursday. Ether, the second-largest cryptocurrency by market cap, is down almost 2% and still trades around $3,300 per coin.

XRP is the worst performer among the top 10 cryptocurrencies by market cap, losing 4% of its value in the last 24 hours. However, it maintains its position as the fourth-largest cryptocurrency by market cap.

Tron’s TRX is the only major cryptocurrency currently in the green. TRX is up 1% since Thursday, trading at $0.2578.

The partnership converts computing capacity into tradeable tokens on Injective, enabling more flexible and cost-effective access to computational resources for developers, researchers, and institutions.

The tokenization process leverages Injective's on-chain financial primitives to create a sophisticated market for GPU compute resources. Each token represents a standardized unit of computing power, which can be traded, staked, or used as collateral within the broader DeFi ecosystem.

The move is expected to create new opportunities for market efficiency, enable innovative financial products built around computing resources, and support the growing demands of AI development and research. By combining Injective's financial infrastructure with Aethir's robust infrastructure, this initiative sets the stage for a more accessible, efficient, and innovative future for AI to thrive with on-chain finance.

Injective is an open, interoperable layer-one blockchain for building powerful DeFi applications. Injective uniquely provides plug-and-play financial infrastructure primitives, such as a high-performance on-chain decentralized exchange infrastructure, decentralized bridges, oracles, and a composable smart contract layer with CosmWasm. INJ is trading at $21.19, down 4% in the last 24 hours.

With Sushi now live on Sonic, users can move assets seamlessly to and from Sonic by using Sonic Gateway, Sonic’s official decentralized bridge. They can also trade Sonic tokens with best-in-class pricing via Sushi’s advanced Aggregator UI, currently routing through SushiSwap v2 and v3, SpookySwap v2 and v3, and Wagmi. Additional liquidity sources will be integrated in the coming days. Finally, users can add liquidity to Sushi’s v2 and v3 pools on Sonic.

SushiSwap is a Decentralized Finance (DeFi) liquidity provision platform that aims to be an evolution of Uniswap. SUSHI is trading at $1.450, down 3% in the last 24 hours. 

Sonic (previously Fantom) is building a programmable platform on a directed acyclic-graph-based distributed ledger. Its FTM coin is down 8% in the last 24 hours and is currently trading at $0.8722.

Kyber Network is an on-chain liquidity protocol that aggregates liquidity reserves to allow instant and secure token exchange in multiple decentralized applications (dApps). KNC, the native token of the Kyber Network, is down 2% in the last 24 hours and currently trades at $0.5336.

Sonic (previously Fantom) is building a programmable platform on a directed acyclic-graph-based distributed ledger. Its FTM coin is down 8% in the last 24 hours and is currently trading at $0.8722.

Celer Network is an interoperability platform that supports cross-chain fund transfers and generic message passing. CELR, the native token of Celer Network, is up 14% in the last 24 hours and is currently trading at $0.02221.

Injective is an open, interoperable layer-one blockchain for building powerful DeFi applications. Injective uniquely provides plug-and-play financial infrastructure primitives, such as a high-performance on-chain decentralized exchange infrastructure, decentralized bridges, oracles, and a composable smart contract layer with CosmWasm. INJ is trading at $23.42, up % in the last 24 hours.

This move comes as part of the company's broader plan to capitalize on the growing U.S. crypto market and follows key discussions with President-elect Donald Trump about future crypto regulations.

Crypto.com is a global cryptocurrency exchange and financial platform that offers a wide range of services, including trading, payment solutions, and institutional custody for digital assets. Founded in 2016 and headquartered in Singapore, the company has rapidly expanded its presence, with a focus on building partnerships and complying with evolving regulatory frameworks.

U.S. Expansion Plans: Crypto.com Sets Sights on Regulatory Cooperation

Crypto.com's U.S. expansion comes on the heels of a meeting between CEO Kris Marszalek and President-elect Donald Trump in December, where discussions centered around crypto policies and industry regulations. Marszalek expressed confidence in the North American market, signaling Crypto.com's commitment to the U.S. and Canadian markets. This expansion is also a response to a favorable regulatory environment, with Trump aiming to position the U.S. as the "world's crypto capital." 

Additionally, Crypto.com dropped its lawsuit against the U.S. Securities and Exchange Commission (SEC), signaling its intent to collaborate with the incoming administration on creating a regulatory framework for the crypto industry.

Stablecoins Lead the Charge in Blockchain Transfers

While speaking at the event, Idan Oferat, co-founder of Fireblocks, revealed that

“Most transactions processed by Fireblocks, and blockchain in general, are predominantly in USDT and USDC.”

Fireblocks is a leader in this category, processing over $3 trillion in client transfers. Stablecoins account for more than 50% of that sum—up from 45% earlier this year.

"Approximately 10% of all stablecoin transactions originate from payment companies, and this use case is expected to grow significantly in the coming years," Oferat added.

Bitcoin No Longer the Dominant Force in Payments

Payment industry expert Daal Shalev pointed out that,

"Bitcoin started as a revolutionary tool for cross-border payments, but it has lost its edge in this domain as fiat systems have advanced. Bitcoin remains a store of value, but when it comes to payments, no one wants to use it anymore."

Shalev revealed some insights about central bank digital currencies (CBDCs): "The Bank of Israel has stated that it won’t launch a CBDC until other nations do so first. Former U.S. President Donald Trump famously declared, 'Not over my dead body,' regarding CBDCs, which has significantly set back Israel's progress in this space."

PayPal's PYUSD – A "Supercharged" Dollar

At the conference, Yonatan Yochpaz, Head of Blockchain and Digital Currencies at PayPal, presented PYUSD, the company’s stablecoin launched in 2023. 

"When you convert dollars to PYUSD, you're giving them superpowers—it becomes instant, with no days-long settlement waiting, and cheaper to transfer because it’s on the blockchain." 

Yochpaz added that PayPal’s PYUSD is backed 1:1 by dollars held in a trust account, is protected against bankruptcy, and is one of the few stablecoins insured by the New York Department of Financial Services (NYDFS).

Banks Facing Challenges in the Digital Era

Shalev also commented that,

"Banks are increasingly aware of the significant challenges posed by regulations requiring them to modernize. Most bank software systems still rely on outdated XML frameworks and legacy infrastructure. But customers now expect to send money through fast, cheap, and near-zero fee transactions."

Shalev further elaborated on the transformative potential of CBDCs: 

"We now have a ruler to measure the quality of money—how quickly it devalues or loses utility. CBDCs change the game entirely. Imagine money with an expiration date, limited to specific geographic regions, or restricted for use by certain individuals. These are significant monetary implications. Governments are drawn to CBDCs because they offer greater power and control."

Crypto to Boost Payment Innovations

In a concluding comment, Shalev pointed out that cryptocurrencies could play a crucial role in payment innovations. He added that, 

"Cryptocurrency is one of the most significant drivers of payment innovation. SWIFT recently introduced a new messaging standard, and we now have laws governing payment service providers—all of these developments are thanks to crypto. As citizens, this competition is good news; it means we'll ultimately benefit."

The ban extends beyond individual mining operations to include participation in mining pools. While crypto mining was legalized in Russia in 2023, with regulations taking effect in August, the country still prohibits the use of cryptocurrencies as legal tender domestically, although cross-border payments with crypto remain allowed.

Impact on Bitcoin Mining Prices

The ban is likely to affect the global cryptocurrency market, particularly Bitcoin mining. Russia is a significant player in global mining, and the removal of substantial mining capacity could lead to a temporary drop in the Bitcoin network's hash rate. This may cause an increase in mining difficulty, potentially pushing up the cost of mining Bitcoin as remaining miners compete for resources. 

The ban may also drive miners to relocate to other countries, increasing competition in markets like North America and Central Asia, which could further raise mining prices. However, as miners adapt to these changes, the global landscape for mining could evolve, with shifts in mining hardware demand and energy strategies affecting long-term trends in Bitcoin mining costs.

In a press release shared with Cryptowisser, Analog said the initial Proof-of-Authority (PoA) version, live on December 23rd, serves as a foundation for upgrades like Nominated Proof of Stake (NPoS) consensus, cross-chain messaging, and data queries by its Token Generation Event (TGE). 

This latest development comes after a successful testnet with 345,000 accounts and over 1.9 million cross-chain datasets created. Analog supports projects like Frax Finance, XYO, and Parami Protocol, offering tools for cross-chain smart contract execution. 

With over 50 projects committed to building on Analog, its mainnet aims to streamline multi-chain development and usher in the next wave of decentralized applications.

The mainnet went live with block production on December 23rd. The initial version of the mainnet is a Proof-of-Authority (PoA) network that will serve as a template for additional runtime upgrades, adding all of Analog’s core functionalities by the Token Generation Event (TGE). These functionalities include a Nominated Proof of Stake (NPoS) consensus mechanism, cross-chain messaging, cross-chain data queries, and more. 

Analog revealed that the mainnet launch follows a successful three-phase testnet, ensuring core features are fully optimized and allowing developers to provide valuable feedback. The mainnet also introduces a decentralized and interoperable layer that enables developers, protocols, and users to experience true cross-chain solutions.

Analog is a one-stop shop for interoperability. It aims to provide all the tools for a developer to easily create any cross-chain app within its tech stack. It supports developers in creating sophisticated applications that react to events across the entire multi-chain ecosystem. With over 50 projects across multiple verticals building or committed to building with Analog, the ecosystem is rapidly expanding, demonstrating the ease of integrating with Analog’s suite of tools.

Some examples of projects building with Analog include: 

• StationX: StationX, a platform for multi-chain DAO creation and management has leveraged Analog’s Automation workflow to simplify complex processes across multiple chains, from automated fund distribution to trigger-based actions, making DAO management more efficient and user-friendly.

•  Parami Protocol: Pioneers in merging decentralizing AI Agents with blockchain technology. Among other integrations, Parami is using Analog to allow their AI Agents to interact with a community, such as various memecoin communities, that spans across multiple chains.

• Frax Finance: Frax Finance, one of the largest decentralized stablecoins, will leverage Analog Watch to send real-time oracle data for their primary implementations (Frax-wEth and FXS-wEth) to get a true price of FXS-USD across all integrated blockchains, enhancing transparency and data accuracy. In addition, VeFXS holders can vote on governance decisions on all chains where VeFXS is held. 

• XYO: XYO is the original DePIN, offering industry-leading geo-location technology. By utilizing Analog’s cross-chain technology, developers and companies alike can benefit from more accessible DePIN-backed data. 

• Vemo Network: Transforming locked crypto assets—such as vesting tokens and staking rewards—into tradable NFTs using ERC-721 and ERC-6551 standards. Vemo uses Analog to lock assets across multiple chains that can later be represented as NFTs.

According to the team, its extensive testnet campaign attracted over 12M website visits, resulting in over 345,000 participating accounts. In Analog Watch, one of Analog’s developer tools, which can be likened to The Graph, but for cross-chain data, users have listed over 290,000 smart contracts across multiple chains, creating over 1.9M data sets from these smart contracts. 

Furthermore, over 42,000 users have already completed Proof of Humanity (PoH) verification, a process with Intract that ensures real users. This guarantees a strong user base that will begin interacting with the mainnet from day one. Analog expects this number to increase significantly by TGE.

Analog is a secure, one-stop interoperability hub for multi-chain and cross-chain solutions. It enables developers to build and deploy dapps seamlessly across all chains. As a natively chain-agnostic protocol, Analog is well-positioned to streamline the multi-chain experience, allowing dapps and users to expand to new blockchain networks.

Strategic Acquisition Unlocks Japanese Market Access

The landmark deal involves Gate.io's complete acquisition of Coin Master's outstanding shares, with the Tokyo-based exchange set to be rebranded as "Gate Japan." Coin Master, which has operated since 2016 and secured its trading permit in 2019, assures customers that existing services will continue uninterrupted during the transition.

Regulatory Compliance Drives Market Strategy

This acquisition represents a calculated approach to navigate Japan's strict regulatory landscape, where the Financial Services Agency (FSA) maintains rigorous oversight of crypto trading platforms. By acquiring Coin Master's existing trading permit, Gate.io effectively bypasses the traditionally challenging process of obtaining new regulatory approval, positioning itself for legitimate operation within the Japanese market.

Future Operations and Customer Transition

Gate Japan has announced plans to launch a dedicated trading platform specifically designed for Japanese residents, with full compliance with local regulations. The company has committed to providing detailed information about the transition process for existing global platform users, new registration procedures, and upcoming service offerings, including supported cryptocurrencies.

This strategic acquisition marks a significant shift in Japan's cryptocurrency exchange landscape, traditionally dominated by domestic players. Through this move, Gate.io demonstrates its commitment to maintaining a presence in one of Asia's most important crypto markets while adhering to local regulatory requirements. The company plans to release further details about its operational timeline and service offerings in the coming months.

Strategic Oversight for Digital Asset Operations

The newly proposed framework establishes clear guidelines for crypto-asset service providers (CASPs), requiring mandatory registration and licensing with the SEC. These requirements reflect the government's commitment to fostering a secure and transparent crypto ecosystem while protecting investor interests. Service providers must demonstrate compliance with the Financial Products and Services Consumer Protection Act, ensuring robust consumer safeguards.

Enhanced Security and Disclosure Protocols

Under the new guidelines, crypto service providers must implement comprehensive cybersecurity measures aligned with the National Cybersecurity Plan. The framework mandates regular security audits and the establishment of robust anti-money laundering protocols. For public offerings, providers must submit detailed disclosure documents 30 days before any marketing activities, including thorough explanations of the technology, potential risks, and value fluctuation warnings.

Market Integrity and Consumer Protection

The SEC's framework introduces stringent measures to combat market manipulation and insider trading, establishing a more secure trading environment. With over 562 million global crypto users, these regulations aim to position the Philippines as a leader in responsible crypto adoption. The framework balances innovation with investor protection, requiring service providers to maintain minimum capital requirements and adhere to strict operational standards.

The SEC has opened these draft regulations for public consultation until January 18, 2025, inviting stakeholders to contribute their insights and recommendations. This collaborative approach demonstrates the regulator's commitment to developing practical and effective oversight mechanisms for the cryptocurrency sector.

• Bitcoin is down 1% in the last 24 hours and trades below $95k as it continues to consolidate in recent days.

• MicroStrategy acquires 5,262 bitcoins as its stock officially joins the NASDAQ 100 index.

BTC Lulls Below $95k

The cryptocurrency market has been underperforming recently, with Bitcoin struggling to go back above $100k. Bitcoin, the leading cryptocurrency by market cap, is down 1% in the last 24 hours and trades at $94,402 per coin.

There is no catalyst behind the recent bearish performance, as the market has been bearish since the Fed announced its interest rates forecast for 2025. The bearish performance persisted despite MicroStrategy acquiring another 5,262 bitcoins on Monday.

MicroStrategy has acquired 5,262 BTC for ~$561 million at ~$106,662 per bitcoin and has achieved BTC Yield of 47.4% QTD and 73.7% YTD. As of 12/22/2024, we hodl 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin. $MSTR https://t.co/asDGerBV7q

— Michael Saylor⚡️ (@saylor) December 23, 2024

The Michael Saylor-led company announced on Monday that it bought 5,262 BTC for a total of $561 million in the week ended Dec. 22 to take its total holdings to 444,262 BTC.

Michael Saylor announced this acquisition, stating that the purchase was at an average price of $106,622 per bitcoin. At current market prices, this brings the value of MicroStrategy's holdings to $42.2 billion, raising the average cost to $62,257 per bitcoin.

Altcoins in Green

While Bitcoin is struggling, altcoins are bouncing back. Ether, the leading altcoin by market cap, is up 3% in the last 24 hours and is approaching the $3,500 mark. Binance’s BNB token is the best performer among the top 10 cryptocurrencies by market cap, up nearly 5%. As the 5th-largest cryptocurrency by market cap, BNB currently trades at $693 per coin.

Chainlink (6%), Sui (8%), and Hedera (11%) lead the charge, while other major altcoins also rally higher in the last 24 hours. Thanks to the improved performance, the total cryptocurrency market cap increased by 1% to hit $3.32 trillion.

As an OFT, eBTC can be seamlessly bridged across Arbitrum, Corn, and Base networks. Like weETH, its $7B LRT, eBTC can be natively minted on L2s, reducing gas costs for users.

LayerZero is an interoperability protocol designed to facilitate seamless communication between different blockchains. It aims to create a unified, interconnected blockchain ecosystem where assets and data can move freely across various networks. ZRO trades at $.655, up 5.5% in the last 24 hours.

LayerZero is an interoperability protocol designed to facilitate seamless communication between different blockchains. It aims to create a unified, interconnected blockchain ecosystem where assets and data can move freely across various networks. ZRO trades at $.655, up 5.5% in the last 24 hours.

The collectibles platform will operate on the Space Network, an independently constructed L1 blockchain by Otherworld, built on Avalanche. Otherworld’s L1, Space Network, is an interoperable chain made possible through partnerships with Nestree and LayerZero, allowing users to freely move digital assets across different networks, enabling quick and flexible asset transfers between blockchains.

SL:U offers a unique way to excel through upgrades. SL:U gifts dedicated players with weekly rewards for successfully upgrading their card collections and exclusive Sung Jin-Woo PFP (NFTs) for seasonal top-ranking players.

Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem.AVAX is up 6% today and trades at $38.93 per coin.

The Lido Ethereum SDK is a production-ready toolkit for building off-chain integrations (widgets, wallets, etc) with the Lido on Ethereum protocol. It provides tools, pre-built methods, and clear documentation to help developers integrate Lido staking functionality into their projects seamlessly.

The SDK includes staking functions, reward tracking & calculation, withdrawing & wrapping, protocol stats, and multichain support. 

Lido is a secure liquid staking solution for proof-of-stake (PoS) cryptocurrencies that supports Ethereum 2.0 (The Merge) staking and a growing ecosystem of other Layer 1 PoS blockchains. Its native LDO token is up 6% in the last 24 hours, trading at $1.839 per coin.

Swaap is joining Pyth’s Market Data Provider network to enhance blockchain data accessibility with high-quality, real-time market insights including 300+ token pairs, redemption rates, stocks and commodities.

Pyth Network is an innovative decentralized oracle that sources financial market data from over 90 first-party publishers, including major exchanges and market-making firms worldwide. PYTH is up 6% in the last 24 hours and currently trades at $0.3882 per coin.

The HBA is bringing together top infrastructure providers to empower developers and advance web3 innovation, including The Graph and Startale Cloud Services, which provides RPC Node Services for Soneium, Astar Network, and beyond.

The Graph is an indexing protocol for decentralized applications that allows developers to access blockchain data efficiently. Developers can build subgraphs that define how to ingest, index, and serve blockchain data in a verifiable way. GRT, the native token of The Graph Network, is up 5.5% in the last 24 hours and is currently trading at $0.2207.

Wormhole is a decentralized bridge between blockchains that enables the transfer of assets and data across different blockchain networks. It aims to facilitate interoperability and expand the capabilities of blockchain technology. W is trading at $0.2846, up 7% in the last 24 hours.

The Predictions and Lottery markets generated 65k CAKE ($157k)and 27k CAKE ($64k), respectively. The NFT marketplace generated 200 CAKE ($400), down 13% from last week.

PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up 5.5% today and is currently trading at $2.512.

The SVR-enabled Price Feeds leverages Flashbots MEV-Share and a novel onchain “Dual Aggregator” contract architecture to provide efficiency and enhanced fallback security. Chainlink SVR is currently live on testnet and will soon launch on the Ethereum mainnet. A future, fully custom implementation will introduce further improvements, including increased decentralization, a DON-based auction system, enhanced gas efficiency, and cross-chain capabilities.

The value recaptured by SVR provides DeFi protocols with a new revenue stream. It can be used to promote the long-term economic sustainability of Chainlink oracles, ultimately ensuring DeFi protocols maintain access to highly secure and reliable oracles.

Chainlink Network (LINK) aims to provide tamper-proof data inputs and outputs for smart contracts on any blockchain. LINK is up 6% over the past 24 hours, trading at $24.19 at press time.

Miran, who currently serves as an economist at Hudson Bay Capital Management, has long been a vocal supporter of cryptocurrency. He has previously expressed concerns about U.S. crypto regulations, advocating for reform to foster innovation. In recent public statements, Miran has criticized the approach of Federal Reserve Chair Jerome Powell, calling his economic views politically and economically flawed.

This move comes as Trump has promised to position the U.S. as the "crypto capital of the planet," with plans to explore initiatives like a strategic bitcoin reserve.

A Series of Crypto-Friendly Trump Appointees

This comes on the heels of a series of Trump appointees who, collectively, are painting a crypto-friendly future in the United States. 

Since winning reelection in November, he has appointed Sacks as AI and Crypto Czar and Atkins as SEC Chairman. The election of Donald Trump and his close relationship with cryptocurrencies sent the market skyrocketing in the weeks thereafter. 

In a statement shared with Decrypt, interim CEO Norman Reed emphasized that while a definitive timeline has not yet been set, the company is confident that the return of fiat services is "not a matter of if, but when." This marks Binance.US's first major operational pivot since it halted its USD offerings last year due to regulatory pressure.

Operational Challenges and Survival Under Regulatory Scrutiny

Binance.US has continued to function despite restricted banking access and increasing scrutiny from U.S. regulators. Since June 2023, the exchange has faced a complex regulatory landscape that has, at times, made it difficult to access traditional banking services. Reed pointed to what some have called "Operation Chokepoint 2.0"—an alleged initiative aimed at denying crypto firms banking access—as a major obstacle. Despite this, the exchange has remained operational, continuing to support over 160 cryptocurrencies and staking services for more than 20 assets.

Reed, who spent six years enforcing securities law at the SEC, expressed confidence that the exchange has complied fully with regulatory expectations. Looking to the future, Reed affirmed that Binance.US is working on expanding its custody services and wallet solutions, with the restoration of USD services set to be the “top-requested” feature.

Reed's remarks signal hope for the future, as Binance.US prepares to navigate both regulatory challenges and expanding opportunities in the evolving U.S. crypto market.

Leadership Team Takes Shape

The appointment represents a strategic move in Trump's technology leadership assembly, with Hines joining a growing team of tech-focused advisors. The Yale University and Wake Forest Law School graduate brings a unique background, combining athletic achievement with political ambition, having previously campaigned for a House seat in 2022. Working alongside Sacks, who was appointed on December 5th to lead "critical areas" of American competitiveness, Hines will focus on fostering innovation while ensuring industry support.

The broader technology leadership team includes Sriram Krishnan as Senior Policy Advisor for Artificial Intelligence and Michael Kratsios as White House tech policy lead. Former deputy Lynne Parker will contribute to cryptocurrency policy development, completing a comprehensive approach to digital asset governance. Industry leaders have already begun engaging with the incoming administration, with MicroStrategy's Michael Saylor offering a framework for cryptocurrency compliance standards.

In response to his appointment, Hines expressed gratitude on X, characterizing the role as the "honor of a lifetime" and emphasizing his commitment to working with Sacks to maintain the industry's position in America's technological advancement. The Council's formation signals Trump's recognition of cryptocurrency's growing importance in the national economic landscape and sets the stage for potential regulatory developments under the new administration.

Growing Bitcoin Portfolio Drives Success

Known as "Asia's MicroStrategy," the Tokyo-based investment firm has accumulated an impressive 1,762 BTC, currently valued at approximately $168 million. Their strategic accumulation shows an average purchase price of $75,600 per Bitcoin, with the company reporting an extraordinary 310% BTC yield between October and December—a substantial increase from the previous quarter's 41.7%. The firm's commitment to cryptocurrency extends beyond simple acquisition, with plans to develop a dedicated business line incorporating various financial instruments to support their Bitcoin strategy.

Metaplanet recently completed two significant bond issuances totaling 9.5 billion yen ($60.6 million), both zero-interest and maturing in June 2025. The funding allows CEO Simon Gerovich to accelerate planned 2025 Bitcoin acquisitions into the current fiscal year. The company's stock performance reflects investor confidence, with shares surging over 2,100% this year despite recent weekly fluctuations.

Financial Turnaround Marks New Era

In a remarkable turnaround, Metaplanet anticipates its first consolidated operating profit in seven years. The company projects revenue of 890 million yen ($5.8 million) for the fiscal year ending December 31, more than tripling the previous year's 261 million yen. Their innovative approach includes selling Bitcoin put options, which generated 520 million yen in income. This strategy not only provides immediate revenue through premium collection but also aligns with their long-term Bitcoin accumulation goals, allowing them to acquire cryptocurrency at predetermined prices when options are exercised.