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Here's a quick preview of today’s content: Trump continues to be pro crypto naming entrepreneur and VC founder David Sacks as 'White House AI and Crypto Czar', Hawk Tuah girl gets destroyed on twitter spaces when defending her alleged crypto rug pull, Bitcoin cools off and dives below $100k, Financial Times apologizes for the crypto hate over the years, and more

HAPPY FRIDAY - Let’s dive in

Market Snapshot

• Bitcoin's price plunged below $94,000 late Thursday in rapid retreat from its newfound all-time high around $100,000 with no obvious reason behind the drop

• Crypto’s total market cap is approaching $4T during the week (TD) 

• Memecoin trading volume grew 979% from Jan.1 to Dec. 1, and accounts for 5.27% of the entire crypto market’s volume

• U.S. spot Ethereum ETFs see largest daily inflows since launch with $431.5M on Dec. 5

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

• Donald Trump selects David Sacks of Craft Ventures as White House AI and crypto czar (BBG) 

• Financial Times apologizes for its 14-year-long Bitcoin skepticism (TD)

• Trump takes credit for Bitcoin’s $100k milestone (DC) 

• Hailey Welch and team try to defend their actions after many call their Hawk Tuah coin a rug pull - see community notes for the win (X)

• Bitcoin sharply corrects under $100k after reaching a new ATH (DC) 

• Mt.Gox moves over 24k BTC, market dumps right after (CT)

• Prank tweet goes viral claiming famous crypto influencer Gainzy looks shockingly similar to United Health suspect (X)

• Enron announced a relaunch of its brand with a vision to 'solve' the global energy crisis (and hinted at potentially launching a digital token) (Enron)

• 88% of crypto investors believe they missed out on major crypto gains, according to a Kraken survey (CT) 

• Issac Miller recreated his famous Bitcoin crossing $100 video just over a decade later (X)

• USDC issuer Circle lays off 5% of its employees (CD) 

• Cardano L2 protocol Hydra surpasses Ethereum and Solana in TPS (CS) 

• Blockchain data firm Chainanalysis announces a new CEO (CD) 

• HawkTuah meme coin dumps over 90% after team dumped on their community (CT) 

• Layer N launches “N1,” a blockchain for TypeScript, Rust, and C, with hyperfast transactions (CT)

• Base L2 reaches a new ATH with 8.8M transactions per day (TB) 

• Ceffu, an institutional custody partner of Binance, partners with EOS Network (DH) 

• Staking service provider P2P.org launches an integration with the TON blockchain (CT) 

• Phantom Wallet adds SUI blockchain support (BK)

• Semler Scientific, a Healthcare technologies company, adds another $30M in Bitcoin to its balance sheet (DC)

Launches

• Top NFT Brand Pudgy Penguins to release 'PENGU' token (CD)

• Austin Federa, Solana’s Head of Strategy, leaves to launch his own protocol (CT) 

• VC investor Erick Zhang, a former Binance executive, launches new ICO platform on BNB chain (TB)

Regulation

• Putin signs a new framework outlining taxation on crypto mining and transactions (MT) 

• Vancouver’s mayor proposes integrating Bitcoin into city finances (BBG) 

• South Korea's Financial Services Commission dismissed recent crypto roadmap reports (CS) 

• Anchorage Digital becomes the first US federally chartered bank to support ETH liquid staking (CT)

Cybersecurity

• Australia to crack down on crypto ATM providers, citing money laundering risk (CT)

• Australia's agency for monitoring financial crimes establishes a taskforce to fight criminal use of crypto (RT)

Extra Reads

• The drama surrounding the 'Hawk Tuah' coin continues to escalate. Yesterday on X spaces well knowing crypto investigator Coffeezilla interrogates Hailey Welch and the team surrounding the coin that many are calling a rug pull

  Watch video here
  

• What are convertible senior notes? How MicroStrategy uses them to buy Bitcoin
  Full breakdown here

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