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Weekly Recap: Bitcoin Rebounds Above $90,000

Happy weekend Defiers!

Crypto markets rebounded this week, with BTC briefly trading above $92,000 on Friday. ETH and SOL are trading at around $3,000 and $140, respectively.

MegaETH said it will refund all pre-deposits after its liquidity campaign’s launch was plagued by technical issues.

Also this week, Hyperliquid-based liquid staking protocol Kinetiq launched its native token and airdrop.

Meanwhile, Ethereum DATs are sitting on heavy losses as ETH drops under $3000.

Finally, Polymarket has been cleared to operate in the US by the CFTC.

Enjoy!

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Top stories this week

Bitcoin Consolidates at $91,000 as Stocks and Gold Rally

Crypto markets remained relatively calm heading into the weekend, with Bitcoin holding at around $91,000 as U.S. stocks rallied on Black Friday.

BTC is up nearly 8% over the past week.

MegaETH to Refund USDm Pre-Deposits After Multisig Chaos

MegaETH said on Thursday evening that it will return all funds from its Pre-Deposit Bridge campaign, calling its execution “sloppy."

Hyperliquid-based Kinetiq’s Token Trades at $130 Million Valuation

Kinetiq, a liquid staking platform on the Hyperliquid blockchain, launched its KNTQ governance token on Nov. 27.

Ethereum DATs Heavily Underwater as ETH Price Drops Below $3,000

Ethereum-focused digital asset treasury (DAT) companies are facing pressure as most of them built their stockpiles at higher than current prices, and are now sitting on billions in unrealized losses.

Polymarket Receives CFTC Approval to Operate in the United States

The CFTC has issued an Amended Order of Designation that allows Polymarket to launch for both brokerages and users in the United States via FCMs (Futures Commission Merchants) and “traditional market infrastructure.”

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