Good Morning,

Here's a quick preview of today’s content: disturbing content on Pumpdotfun prompts moderation debate, Jim Cramer tells Bitcoin is a buy - Bitcoin of course falls right after, Trump names a pro crypto Treasury Secretary, memecoin outperform, and more

Let’s dive in.

Market Snapshot

• As SEC Chair Gary Gensler prepares to leave his post behind, XRP price has continued to increased 20% over the weekend reaching its highest price since May 2021 at $1.54 a coin

• DOGE also saw a large pop above the $0.475 mark on Saturday morning, the first time that the meme coin had risen that high since May 2021.

• Chainlink had a huge weekend jumping above $18 a coin

• Ethereum is gaining momentum thanks to the highest open interest ever at over $20B - price still has crept upwards at a rate lower than Bitcoin (BL)

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

• Pro crypto hedge fund manager, Scott Bessent, nominated as Treasury Secretary (DC)

• CBOE announces the start of spot bitcoin index options for December (TB)

• Jim Cramer marks the local top after talking positively about bitcoin, again (DC) 

• Memecoin index GMMEME outperformed the rest of the market last week (TB) 

• VanEck reissues $180K Bitcoin price target for current market cycle, but warns that elevated rates could be early signs of “overheating” (CT)

• ME Foundation will launch its Sol-based token 'ME', which is aligned with leading NFT marketplace Magic Eden on December 10 (DC)

• Cantor Fitzgerald CEO, Howard Lutnick, negotiated 5% ownership stake interest in Tether (TB)

• Trump Team considers creating first-ever white house crypto rule (TD)

• Chillguy meme creator markets a plushie toy after refusing millions (X)

• Asset Manager Charles Schwab to launch spot Crypto ETFs if regulations change (CP)

• Dogecoin spikes amid X-payments speculations (CD)

• Community members dig up the possibly best crypto trade of all time (X)

• Trump expected to offer agriculture secretary role to ex-Bakkt CEO (TB)

• AI startup O.XYZ faces problems after inflating it’s technological claims (DC)

• The two Papa John’s pizzas ordered in 2010 now nearing the worth of $1B in value (CT)

• NFTs records $158M weekly sales volume (CT)

• Multiple social media users have expressed concern over the content broadcasted on the livestream feature of Pumpdotfun, mentioning serious incidents including threats of self-harm and other disturbing behaviors (X)

Launches

• Pro crypto venture capitalist, Michael Gilroy, co-founds new venture firm (TB)

• DAOs.Fun fundraising platform has launched V3 upgrade allowing stakers to earn fees and designate the rights to invest (TD)

Venture Capital

• Truemarkets raised over $4M via an NFT mint, attracting Vitalik Buterin (TB)

Regulation

• Prediction markets platform Polymarket to block France based users after escalations from the French government  (DC) 

• CFTC commissioner urges the need for structured crypto regulations (CT) 

• Chinese court clarified that cryptocurrency ownership does not break any Chinese law (AB)

Cybersecurity

• DOJ charged five scammers for running a crypto-phishing scheme (DH)

• South Korean centralized exchange, Upbit, reimbursed over 8.5B Won to victims (CN)

• SEC achieves record $8.2B in remedies amid crypto crackdown (DC)

Extra Reads

• SOL touched $260 for the first time ever last Friday, setting off a round of quasi-religious celebration and dunks on Solana bears. Here is a full breakdown of the recap Solana’s landmark journey to today. This is worth the read. 

Chart of the Day

This chart outlines all the Bitcoin buys Michael Saylor has made since 2020

Meme Dump

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

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