📉Crypto Markets Tumble as Fed Turns Hawkish

Together with

GM Defiers!

✍️ 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

🙏Sponsored

📈 Markets in the last 24 hrs:

THANKING OUR NEWSLETTER SPONSORS

| NEWSLETTER CONTINUES BELOW |

Impossible Cloud Network (ICN) is a revolutionary cloud platform that connects enterprise-grade hardware with cloud service providers. ICN is building an open cloud that is more performant than typical web2 providers while being more cost-effective so that the largest companies in the world will run their operations in it.

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.

High Gain by Kelp gets you ~20%+ APY on ETH by leveraging blue-chip strategies with rsETH on Aave, Pendle, Usual and Elixir. On depositing, mint hgETH and stay liquid in DeFi while earning rewards!

💥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

Ambire Wallet, the first hybrid account abstraction browser extension supporting both Smart Accounts and Basic Accounts (EOAs) on Ethereum and many L2 EVM networks, has launched a gamified testing campaign for early extension adopters called Ambire Legends.

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!

📉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.