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Good Morning,

Here's a quick preview of today’s content: Bitcoin crosses $107,000 a coin and hits a new all time high $107,780.58, plans of a US Bitcoin strategic reserve gain more traction, miners keep adding BTC to their balance sheet, crypto investigator ZachXBT digs up another case, an NFT project CyberKongz receives a knock on the door from the SEC, and more

Happy Tuesday, Let’s dive in.

Market Snapshot

• Bitcoin continued its northward journey on Dec. 16, signaling continued demand from the bulls

  • CZ says Bitcoin may have entered “Santa Claus mode,” with investors looking to allocate capital, fearing missing out on the rally. He expects Bitcoin to reach $125,000 in early 2025 but anticipates a 30% correction afterward

• Interesting enough, trading volume in BlackRock’s IBIT $30 and $35 strike puts expiring in May 2025 and January 2026 topped 10,000 contracts Friday

• The CoinDesk 20 is currently trading at 3805.48, down 1.7% (-64.94) since 4 pm ET on Friday

  • Leaders: LINK (+5.2%) and BTC (+2.2%)

  • Laggards: HBAR (-11.3%) and ICP (-7.1%)

Market Predictions

• Traders on Kalshi are currently predicting whether $BONK or $PNUT and several more will be added to Robinhood before Jan 1, 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}}

• Trump reportedly plans to establish a US strategic Bitcoin reserve (CS) 

• SoftBank Group plans to invest at least $100B in US AI infrastructure (CT) 

• Ethereum hits 3-year high of $4,081 (DC) 

• FTX to begin initial distributions to creditors in March (CS) 

• MicroStrategy buys another $1.5B of Bitcoin (CD) 

• Bitcoin miner Riot Platforms buys another $594M of Bitcoin (TB) 

• Trading platform Hyperliquid sees $1B in USDC inflows since launch of its token (TB) 

• African stablecoin startup JuicyWay reaches $1B in processed payments (TC) 

• Lending protocol Aave plans to cut ties with Polygon (BW) 

• Stanford’s Future of Digital Currency Initiative partners with AI agent startup ai16z (BW) 

• Ubisoft integrates Ethereum Name Service for blockchain-based player identities in Captain Laserhawk game (BC) 

• Own the Doge DAO, focused on preserving the original Doge meme, will vote on Neiro’s official coin (DC) 

• Pudgy Penguins-powered chain Abstract plans to leave Testnet in January (X)

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Launches

• Ripple’s stablecoin RLUSD will begin trading today (CT) 

• Avalanche’s anticipated Avalanche9000 upgrade goes live (TB) 

• Monad Labs announced the formation of the Monad Foundation, an independent organization to promote and develop the Monad blockchain (TB)

• Ethereum L2 Mantle launches 570K $EIGEN rewards for staking $MNT (TD)

Regulation

• Crypto exchange BitGet secures operating license in El Salvador (CT) 

• Fund manager Anchorage Digital receives BitLicense from New York to offer institutional services (CS) 

• NFT collection CyberKongz receives Wells Notice from SEC (TB) 

• SEC approves crypto wallet maker Exodus Movement’s listing on NYSE (CD) 

Cybersecurity

• Around $5.36M was stolen from over 40 victim addresses in a hack linked to the 2022 LastPass security breach, per ZachXBT (TB)

• Man poses as Uber driver to steal $300K worth of crypto from two passengers (DC) 

• Woman avoids jail after kidnapping and extorting $40K in Bitcoin from a Saudi royal (DC) 

Extra Reads

• Not Financial Advice: For years, Bitcoin skeptics have watched from the sidelines, waiting for a moment to join the ride, only to convince themselves that they’ve already missed the boat

Here’s a full breakdown on why it’s not too late to invest in Bitcoin

Chart of the Day

Bitcoin ETFs have accumulated over 936,830 BTC and could possibly cross 1 million Bitcoins before 2025 - see full write up here

Meme Dump

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

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