📉Crypto Markets Tumble as Fed Turns Hawkish
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✍️ In today’s newsletter:
- Bitcoin plunges under $100,000 after Fed signals tighter policy
- Sonic mainnet goes live
- U.S. judge says Coinbase can delist wBTC
- Doge IP Owner Buys Rights to Neiro
- Bitwise launches Solana staking ETP
- Arthur Hayes expects crypto sell-off in January
- Polygon community rejects proposal to deploy bridge assets in Morpho
- SEC targets CyberKongz
- Deutsche Bank is building an Ethereum Layer 2 network
- Ohio considers Bitcoin reserve
- Pudgy Penguins NFTs dip 50% after PENGU launch
- PATRIOT memecoin soars
PRESENTED BY OKTO: Breaking Down Chain Abstraction
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- Stellar Launches new Contest to Crowdsource Innovation
- Gravity: The Layer One Blockchain by Galxe
- What Is SORA Card?
📈 Markets in the last 24 hrs:
| NEWSLETTER CONTINUES BELOW |
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💥Crypto Market Tumbles After Fed Signals Rate-Cut Caution
The cryptocurrency market tumbled on Thursday after the Federal Reserve lowered interest rates on Wednesday but expressed caution about further cuts next year. Bitcoin fell 5% in the past 24 hours, trading at around $99,000.
⛓️Fantom's Rebranded Layer 1 Sonic Goes Live
Fantom’s rebrand to Sonic is complete, with Sonic mainnet launching to the public. FTM holders can migrate to Sonic and convert their FTM tokens into the new chain’s native token, S, and get started with its ecosystem.
🧑⚖️Coinbase Calls Out Justin Sun in Explaining Why It Booted wBTC
A U.S. judge refused to stop Coinbase from delisting wrapped Bitcoin after the exchange said there was an ‘unacceptable risk’ that control of wBTC would ‘fall into the hands of Justin Sun.’
🐕Doge IP Owner Buys Rights to Neiro, Setting Up Dog Fight Over New Meme
The Own the Doge DAO is setting up a crypto dog fight after buying the intellectual property rights to Neiro, the successor Shiba Inu to Kabosu, the face of the original internet doge meme.
🏦Bitwise Launches Solana Staking ETP in Europe
Crypto asset manager Bitwise has launched a Solana staking exchange-traded product (ETP) with the ticker bSOL for the European market. Marinade Finance will be its staking provider.
SPONSORED POST
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Ambire Legends is exclusive to early extension adopters and allows players to complete thrilling quests with an awesome soulbound NFT character, earn XP, and participate in future reward pools.
Join Ambire Legends now to be amongst the first users to discover the power of Smart Accounts and to take advantage of account abstraction benefits. Enjoy having the same address across all supported chains, use transactions batching and simulation, and pay for gas fees in stablecoins or ERC-20 tokens while being rewarded for it!
Read more: Ambire Launches Legends: An Epic Onchain Adventure for Smart Wallets
📉Former BitMEX CEO Arthur Hayes Predicts Crypto Dump Around Trump’s Inauguration
Former BitMEX CEO Arthur Hayes believes the crypto faithful who expect a wave of favorable crypto policies as soon as the Trump administration takes office are in for a rude awakening.
🚫Polygon Community Rejects Proposal To Deploy Bridge Funds into Morpho
Ethereum Layer 2 Polygon has rejected a recent proposal to deploy $1.3 billion of stablecoins in its Proof of Stake bridge into an incentives program to grow its DeFi ecosystem.
⚖️CyberKongz Faces SEC Lawsuit after Years of ‘Living in Fear’
CyberKongz has been hit with a warning letter from the Securities and Exchange Commission that a lawsuit may be coming. The team has pledged to fight the suit, saying it is “increasingly apparent that the current administration is trying to force their anti-crypto agenda at the last minute.”
👀Deutsche Bank Turns to Layer 2 for Compliant Tokenization of Assets
Deutsche Bank, Europe's ninth-largest bank by assets, is testing a Layer 2 blockchain to overcome the obstacles financial institutions face in using public blockchains to tokenize real-world assets. Project Dama 2 uses a Layer 2 based on ZKsync technology.
SPONSORED SHOUTOUT
From day one, GOAT Network’s mission has been to transform BTC from a passive asset to an active, yield-bearing asset.
Recently, we expanded that mission to include DOGE, another popular asset people could buy but not use to generate yield. Supply BTC or DOGE, earn sustainable BTC yield. It’s never been done before, and we aimed to be the first.
Last week, we turned that mission into reality. The GOAT pre-mining campaign enabled both BTC and DOGE holders to supply assets into pools on Bitcoin Layer 1 and BNB Chain.
The BTC pool filled in hours. The DOGE pool in days. We raised the caps…and both filled again. All told, holders supplied 50 BTC and 8 million DOGE, earning rewards in BTC – a gateway to BTCFi and MemeFi uses once hard to find.
🇺🇸Ohio Joins Growing Trend of States Considering Bitcoin Reserves
Following similar proposals from Texas and Florida, Ohio introduces legislation to create a Bitcoin reserve as part of its strategy to strengthen state finances.
🐧Pudgy Penguins’ Token Launch Proves Controversial
The highly anticipated PENGU token launch resulted in high volatility for both the token and Pudgy Penguins NFTs.
🫡Patriot Memecoin Soars to $73 Million Market Cap Amid Trump Election Buzz
PATRIOT, a political finance (PolitiFi) memecoin, surged to a record $73 million market capitalization early Wednesday.
🌍 ELSEWHERE
- Bitcoin in Bhutan: Charting Its Own Course of Economic Development (CoinDesk)
- North Korean hackers steal $1.3 billion in crypto this year (CryptoSlate)
- The promise and warning of Truth Terminal, the AI bot that secured $50,000 in bitcoin from Marc Andreessen (TechCrunch)
🔥TRENDING
- Tokenized RWA Market Surpasses $14 Billion
- Crypto.com Drops SEC Lawsuit As CEO Meets With Trump
- Babylon TVL Surges By More Than $3.5B In One Week
- Trump’s World Liberty Financial Acquires Blue Chip DeFi Tokens
- Ethena Launches New Stablecoin Backed by BlackRock’s Treasury Fund
- Ripple’s RLUSD Stablecoin to Commence Trading Today
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