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Good Morning,

Here's a quick preview of today’s content: United Health CEO (alleged) killer Luigi is now in the same jail as Diddy and FTX founder SBF, Tether buys a huge chunk of streaming platform Rumble, crypto dove over the weekend and bounced back, the CEO of VanEck reveals that he puts his money where his mouth is (investing in crypto), and more

As a heads up, we will not have a newsletter coming out on December 24th and 25th! We hope everyone has a wonderful holiday season with family and friends.

Happy Monday, Let’s dive in.

Market Snapshot

• A broad crypto market slide worsened at the start of U.S. trading hours as Bitcoin neared the $93,000 level over the weekend

• Ether, Solana’s SOL, Cardano’s ADA, Ripple (XRP), and Binance Coin (BNB) fell as much as -16%, while memecoin Dogecoin (DOGE) fell over -27%, data shows.

• Some traders say a hawkish tone in this week’s FOMC meeting flipped market sentiment ahead of the new year

• Solana-based bonk (BONK) led growth among dog-themed memes Saturday

  • BONK surged +30%, CoinGecko data shows, with dogecoin (DOGE), shiba inu (SHIB), dogwifhat (WIF) and floki (FLOKI) surging as much as +20%

  • FLOKI was named alongside ether (ETH) and Avalanche’s AVAX as a utility token in a Commodity Futures Trading Commission (CFTC) meeting last month

Market Predictions

• Traders on Kalshi are currently predicting whether that one of the Magnificent (Amazon, Apple, Microsoft, etc.) will announce they are buying BTC

• 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}}

• ETF issuer Jan VanEck has ‘way over 30% of his portfolio in Bitcoin’ (CS)

• Tether is on track to close 2024 with over $10B in profit (BBG)

• Belarus says crypto miners are 'flocking to the country' (CN)

• Drake posted about Fartcoin on his instagram story see here

• Coinbase surpasses Nasdaq in 2024 transaction revenue (DC) 

• Binance.US plans to restore USD services as Gary Gensler leaves office (TD) 

• Bitcoin ETFs see a record-high daily outflow of $672M (DC) 

• Bitcoin miner Marathon Digital acquires $1.5B of additional Bitcoin (TD)

• BlackRock’s new Bitcoin ad faces backlash over disclaimer questioning Bitcoin’s fixed supply (DC)

• Coinbase’s L2 Base averages 4.7M new monthly users (TD) 

• Craig Wright escapes a two-year jail sentence for contempt of court over claiming to be Bitcoin's creator (DC) 

• Infamous Luigi Mangione in same jail as Diddy and FTX founder SBF (DC) 

• Crypto custodian Copper withdraws its UK registration application (CD) 

• Hailey Welch cooperating with lawyers suing over failed HAWK Memecoin launch (CD) 

• El Salvador buys $1M of Bitcoin for its strategic Bitcoin reserve (CT) 

• Bankrupt exchange Cryptopia distributes $225M to crypto hack victims (CT) 

• Jump Crypto settles with SEC for $123M over misleading investors (CT) 

• Spacecoin launches the first satellite for blockchain-secured space network.(CT) 

• NFT marketplace Blur experiences 5x surge in trading volume (TM) 

• Cardano founder Charles Hoskinson moving Cardano Foundation out of Switzerland (TD) 

VaultCraft V2 secures $100M+ BTC from Matrixport

VaultCraft launches V2 in partnership with Safe, lands $100M+ in Bitcoin

• Matrixport entrusts VaultCraft with $100M+ Bitcoin

• OKX Web3 rolls out Safe Smart Vaults with $250K+ rewards

Visit VaultCraft

Launches

• Tether plans to launch its own AI platform next year (DH) 

Venture Capital

• Blockchain VC Verda Ventures launches $40M fund with browser company Opera to support blockchain startups in emerging markets (MB)

• NFT marketplace Kettle raises $4M from ParaFi Capital, IOSG Capital, and others (CH)

• Deal volume for VC funding in crypto startups rose 16% in 2024 (MT) 

Regulation

• Texas, Ohio, and Pennsylvania considering legislation to create Bitcoin reserves (DC) 

• SEC approves first BTC-ETH index ETFs from Hashdex and Franklin Templeton (TD) 

• France’s financial markets regulator approves French bank BPCE’s crypto operations (CT)

• Morocco is set to adopt a crypto asset framework (nBTC)

Cybersecurity

• Ledger users targeted in a new phishing campaign (nBTC) 

• Two scammers charged by DOJ for orchestrating $22M worth of NFT rug pulls (DC)

• Centralized exchanges lead the year as the top target for crypto hacks (CP)

• The threat of quantum computing for Bitcoin (WSJ)

Extra Reads

How a Journalist Went From Exposing Mexican Cartels to Losing His Crypto Life Savings

Read Here

Chart of the Day

An update of Michael Saylor’s buys, purchase amounts, and cost basis

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