Good Morning,

Here's a quick preview of today’s content: Donald Trump might buy a crypto exchange, more companies are adding Bitcoin to their balance sheet in record numbers, BlackRock can now operate in Abu Dhabi, options are arriving to Bitcoin ETFs, Magic Eden users are looking forward to the huge airdrop, Saylor can’t stop buying, and more

Happy Tuesday, Let’s dive in.

Market Snapshot

• Bitcoin finally punched back above the $90k mark as investors eye the 100k short term landmark - A breakdown from 4 experts on why this might happen sooner than later

• XRP has had a historic run in the past week moving up over 80% in a single week after reacting to Gary Gensler’s suspected resignation

  • XRP reached a high of $1.27 at one point, a level last seen in November 2021

  • On Thursday, a group of state attorneys general and the DeFi Education Fund sued the SEC, alleging unconstitutional overreach, accusing the regulator of overstepping the boundaries in bringing enforcement actions against digital asset exchanges

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Bakkt’s share price jumped over 162% on Monday after the FT reported Donald Trump’s media company was in advanced talks to acquire the crypto exchange (CT)

• Hedge fund legend Paul Tudor became a big bitcoin bull, holding $230M worth of BlackRock’s ETFs (DC)

• Options trading on spot Bitcoin ETFs could become available as soon as Tuesday, according to Nasdaq (CD)

• Coinbase CEO Brian Armstrong is meeting with President-elect Donald Trump to discuss “personnel appointments” (TB)

• Binance has corrected swirling rumors of 19.55% yields for its “BFUSD” token, clarifying that it is not a stablecoin nor has it launched. (CT)

• Top memecoin performer from ‘21 cycle, Floki, gets listed on Coinbase in reaction to on-going mememania (CD)

• MicroStrategy purchased another $4.6B worth of bitcoin last week even at prices north of $90k (CD)

• Gemini´s co-founder Tyler Winklewoss flames Gary Gensler in reaction to his upcoming resignation (DH)

• MARA holdings announce a $700M convertible senior note due 2030, shares fall 5% (CD)

• Bitcoin mining gigant, BitDeer (BTDR) announces $50M loss in it´s Q3 revenue report due to increased mining costs. (CS)

• NASDAQ native company Cosmos Health adds bitcoin to its balance sheet as an inflation hedge (DC)

• Semler Scientific purchased 215 BTC for $17.7M, bringing stack to 1,273 BTC (CD)

Launches & Airdrops

• The highly-anticipated Ethereum-compatible Layer 1 Monad has begun rolling out its testnet as part of a phased release (TB)

• Netherlands-based Quantoz launches stablecoins EURQ, USDQ amid regulatory push (DC)

• Magic Eden traders set to receive $312M worth of ME tokens in airdrop (DC)

Regulation

• BlackRock receives license to operate in Abu Dhabi, focusing on AI and private markets (CT)

Cybersecurity

• Decentralized finance firm Thala Labs recovered $25.5M of liquidity pool tokens after the hacker was tracked down by law enforcement (CT)

• Polter Finance suffered a $12M flash loan hack, forcing them to halt operations (CT)

• Bitfinex money launderer ‘Razzlenkhan’ sentenced to 18 months in prison (CT)

• Nepal to fight crypto fraud with public awareness, transaction monitoring (CT)

Worth The Watch

• How TikTok Made Ponke a $300M Meme Coin

Chart of the Day

Solana lead all blockchains in daily net inflows yesterday.

Meme Dump

Pls send us crypto memes to be featured in the newsletter 🤝

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