📈BTC Surges Above $107,000

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BTC surged past $107,000 for the time, buoyed by renewed hopes for a U.S. strategic Bitcoin reserve after Trump indicated he plans to set up a national Bitcoin reserve.

BiT Global, the custodian behind Wrapped Bitcoin, is suing Coinbase for delisting WBTC. BiT Global said Coinbase engaged in anti-competitive practices, with the complaint demanding $1 billion in damages.

Also, Texan sentenced to prison for under-reporting crypto gains, Coinshares eyes L2 adoption and Solana upgrades for 2025, Uniswap regains market share, new developers are gravitating towards Solana, and Fartcoin soars to $725 million capitalization.

✍️ In today’s newsletter:

Bitcoin rallies on U.S. strategic reserve hopes
BiT Global launches $1B lawsuit against Coinbase
Texan cops two years behind bars for under-reporting crypto gains
Coinshares eyes L2s growth and Solana upgrades
Ethereum DEX dominance rises
Solana beats Ethereum by new developers in 2024
Fartcoin rallies 200% in one week

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What would you build better? That's what Stellar asks in their new initiative. Share your vision of better futures for finance, creativity, access and more for a chance at a $30K USD prize pool. The top submissions will be used for inputs for the Stellar developer community to build products with real-world impact.

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⬆️BTC Tags New High As Trump Stokes U.S. Bitcoin Reserve Hopes

Bitcoin rallied to an all-time high of more than $107,300 amid renewed expectations that President-elect Donald Trump will establish a national strategic Bitcoin reserve. The move comes as an increasing number of lawmakers from across the globe are pushing for their governments to create Bitcoin reserves.

⚖️Justin Sun-Linked BiT Global Sues Coinbase For $1B Over WBTC Delisting

BiT Global, the custodian for Wrapped Bitcoin, wants $1 billion in damages from Coinbase over the exchange’s decision to delist WBTC. BiT Global filed a lawsuit accusing Coinbase of antitrust violations after the exchange announced it would delist WBTC a couple of months after launching a competing Bitcoin-backed token in cbBTC.

🚨Austin Man Sentenced to Two Years in Prison for Underreporting $4M in Bitcoin Gains

A Texas man was sentenced to two years behind bars after failing to disclose more than $4 million worth of Bitcoin sales between 2017 and 2019. The Department of Justice said the man lied to his accountant about his crypto activities and sought to obscure his activity on-chain.

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Stellar has launched Build Better, a new initiative intended to bridge the gap between Web3's ambitious visions and making an impact in the real world. The campaign invites community members to share their ideas for improving the worlds of finance, creativity, and access, with the best concepts being developed at an upcoming hackathon in Prague.

Over eight weeks, the initiative will collect community input through polls, questions, and video submissions, focusing on the central question: "What would you build better?" These ideas will shape hackathon tracks where developers will then work to bring them to life. Participants can win from a $30K USD prize pool.

💡Coinshares’ 2025 Crypto Trends Report Highlights L2 Adoption and Solana Upgrades

Coinshares predicts that the growing adoption of Layer 2s and Solana’s technical upgrades will comprise major web3 narratives in 2025. The report also flagged shifting regulatory tides in the United States as a dominant theme to watch.

💪Uniswap Bounces Back From Slow Summer

Uniswap is reclaiming DEX market share after lagging behind Raydium in recent months, with daily active users rising 45% in one week to a year-to-date high of 890,000. The trend coincides with weekly volume across Ethereum-based DEXs rebounding 10%.

🔧Solana Surpasses Ethereum in New Developer Onboarding for 2024

A new report from Electric Capital found that 7,625 developers onboarded to Solana’s ecosystem this year, beating out Ethereum with 6,456. However, 39,148 new developers entered web3 in 2024, the lowest annual increase since 2020.

🚀Fartcoin is the Latest Truth Terminal Memecoin to Soar

Fartcoin, a token conceived by the Truth Terminal AI agent, is the latest darling of the memecoin ecosystem. Fartcoin rallied 200% in one week, giving it a $725 million market capitalization, falling just 5% short of GOAT.

🌍 ELSEWHERE

MicroStrategy Boosts Bitcoin Holdings to 439,000 BTC Following Nasdaq 100 Inclusion (CoinDesk)
Binance Faces Cease-and-Desist Over Its Listing of PNUT Meme Coin (Decrypt)
ONDO Hits New All-Time High Following Purchase by Trump’s Crypto Project (BeInCrypto)