Good Morning,

Here's a quick preview of today’s content: Hailey Welch, better known as the 'Talk Tuah' girl, is in hot water with a lawsuit for her team’s massive memecoin rugpull (interestingly her entire team is listed in the lawsuit besides her). You know what else is massive? The SEC approves both Hashdex and Franklin Templeton’s Bitcoin+Ethereum combo ETF. Plus, Craig Wright receives 12 month sentence from Satoshi-claims case, Hut8 buys another $100M of BTC, MetaMask launched a debit card program, and much more.

Finally Friday. Let’s dive in.

Market Snapshot

• Bitcoin dipped below $96,000, while the broad-market CoinDesk 20 Index tumbled -10% on Thursday.

• The total crypto market saw $1B+ liquidated on Thursday

• Movement is the 24hr leader with $MOVE jumping 15% and second in 7d gains rising 35%, only behind Pudgy Penguins $PENGU 465% gain this week

• The Federal Reserve on Wednesday projected only two rate cuts for 2025, disappointing investors and rattling markets.

Market Predictions

• Traders on Kalshi are currently predicting whether Bitcoin, Ethereum, Dogecoin (and more) will have a postive return in 2025

• You can trade this market by checking out Kalshi

• Get a $20 bonus when you deposit $100 or more with code “LIT” on signup

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

• Hawk Tuah girl Hailey Welch’s team faces a lawsuit for disastrous HawkTuah coin launch (DC) 

• Trump rumored to have discussed strategic Bitcoin reserve with Crypto.com CEO (BZ)

• Stephen Colbert mentioned memecoin Fartcoin on The Late Show watch here

• Net assets in US Bitcoin ETFs surpass those in gold funds (CT) 

• Almost 33% of voters under the age of 40 have used crypto (DH) 

• Bitcoin miner Hut8 buys another $100M of Bitcoin (CD) 

• Craig Wright receives 12 month sentence for defying a ruling on his false Satoshi Nakamoto claim (CD)

• Bitcoin miners are expected to be profitable in December (CD) 

• 10% of Ethereum validators support raising gas limits (CT) 

• Ark Invest sells $3.9M of Coinbase shares following J Powell’s hawkish speech (TB)

• Sui Foundation names Christian Thompson as new managing director of (TB)

• Chainlink partners with memecoin Shiba Inu (TD)

• The Human Rights Foundation donates 7 Bitcoin to projects focused on technical education (BM)

• Exchange WhiteBit secures licenses in Croatia, Italy and Kazakhstan (CD) 

• Bitcoin miner NiceHash moves to Switzerland to improve compliance (CP) 

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Launches

• Crypto wallet MetaMask launches US debit card program (TD)

• Emerging memecoin Crypto-All-Stars raises $22M before launch (CD)

Venture Capital

• Dubai-based tokenization platform Allo secures $100M in Bitcoin-based financing from a consortium of lenders (CT)

• Plume Network announces $20M fundraise from top investors for RWA tokenization (NG)

• Fraction AI raises $6M pre-seed led by Symbolic Capital and Spartan group (NG)

Regulation

• Morocco launches its crypto regulation framework with IMF and the World Bank (CCN) 

• German regulators order WorldCoin to delete non-compliant data (CT) 

• Australian securities regulator sues Binance over consumer protection failures (DC) 

• El Salvador will shut down its Chivo wallet and make Bitcoin acceptance voluntary in $3.5B IMF deal (CD) 

• Nigerian SEC tightens crypto marketing rules (CT)

Cybersecurity

• Total crypto hack losses in 2024 surpass $2.4B (UT)

• North Korean hackers stole $1.3B in crypto in 2024 (CT) 

• 59% of crypto tokens launched in 2024 were malicious (CD)

Extra Reads

• Enjoy 10% off at Regal Movie Theaters using $USDC thanks to a Coinbase partnership
  

  Read More Here
  

• Bloomberg analysts expect multiple crypto ETFs in 2025, but XRP and SOL ETFs facing the biggest hurdles
  

  Bloomberg analysts explain here

Chart of the Day

A look at Hawk Tuah memecoin price action since launch

Meme Dump

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