Bitcoin Price: US$ 106,022.38 (+1.52%)
Ethereum Price: US$ 3,986.24 (+0.69%)
U.S. lawmakers are rushing to confirm SEC Commissioner Caroline Crenshaw for a second term before Democrats lose Senate control in January, with Crenshaw facing opposition from crypto-linked groups who label her “anti-crypto,” while her supporters stress the importance of her reappointment for SEC leadership continuity amid Republican plans to nominate former Commissioner Paul Atkins as SEC Chair. Meanwhile, in the DeFi space, Ether.fi has proposed allocating 5% of its revenues to buy back and distribute ETHFI tokens to stakers, aiming to boost token utility and align incentives, reflecting the growing pressure on DeFi projects to share revenues with tokenholders in a booming market for liquid restaking tokens. Additionally, staking protocol Lido plans to cease operations on the Polygon network by mid-2025, following low adoption and ecosystem shifts, and refocusing its efforts on Ethereum, highlighting broader challenges in sustaining DeFi services on certain networks, as seen with similar decisions on Solana.
The SEC’s Wells notice to CyberKongz over its ERC-20 gaming tokens underscores potential regulatory challenges for the Web3 gaming industry, as the agency insists these tokens must be registered as securities, with CyberKongz vowing to contest this and receiving backing from industry figures like Axie Infinity’s founder, though its NFT prices have remained unaffected. Meanwhile, Ethena Labs launched its USDtb stablecoin with $65 million TVL on day one, backed by BlackRock funds and USDC, designed to provide stability while addressing market risks and boasting scalability potential to $100 billion, making it a strong contender in the rapidly growing stablecoin market, which is expected to double in market cap by 2025. On the cybersecurity front, LastPass hackers ramped up attacks, stealing $5.4 million in crypto just before Christmas, adding to a total of $45 million stolen since the 2022 breach, with experts warning that all LastPass-stored private keys remain vulnerable, urging users to secure their assets amid the surge in scams during the holiday season, or “hacker season.”
Ethereum whale wallets now control 57% of all Ether, with 104 wallets holding over 100,000 ETH, signalling a bullish long-term trend as whales continue to accumulate, while wallets with smaller holdings remain at historic lows, leading analysts to predict a potential price rise for Ether, particularly with growing address activity. In parallel, Santiment notes a surge in social sentiment for Bitcoin and altcoins like Vanachains (VANA) and Moca Networks (MOCA), fuelled by Bitcoin’s record highs and MOCA’s impressive 95% price surge, highlighting shifting market dynamics and growing discussions on social media around Bitcoin’s dominance and niche altcoin movements. On the broader tech front, Softbank announced a $100 billion investment in U.S. AI infrastructure, aiming to create 100,000 jobs and furthering its long-standing partnership with President-elect Trump, positioning the company for a pivotal role in the tech sector by 2028, with a focus on AI and significant investments in OpenAI. In a separate news, Xaman Wallet, driven by XRP’s rally and the upcoming Ripple USD (RLUSD) stablecoin launch, experienced a 250% surge in active users, attracting 80,000 new sign-ups, reflecting renewed interest in the XRP ecosystem, as Xaman capitalises on a forked XRPL blockchain for smart contracts, bolstered by Ripple’s indirect investment support.
Source: https://cointelegraph.com
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