Ex-SEC Official Joins This Law Firm, Winklevoss & XRP Lawyer Deaton Condemn

XRP lawyer John Deaton and Gemini co-founder Tyler Winklevoss have urged crypto firms to stop doing business with law firm Milbank following the hiring of anti-crypto former SEC director Gurbir Grewal.

There’s a growing chorus within the crypto industry against Milbank for its controversial hiring of Grewal.

Ex SEC Official Gurbir Grewal Lacks Integrity, Says XRP Lawyer
Prominent XRP lawyer John Deaton has called on the cryptocurrency industry to cut ties with the law firm Milbank.

His recent criticism comes as former SEC official Gurbir Grewal, known for his anti-crypto activities, especially in the Ripple lawsuit, will be joining the law firm.

In a post on X platform, Deaton accused Grewal of intentionally harming the industry and lying before Congress when questioned by Representative Warren Davidson, adding, “He lacks integrity.

Period”. Deaton’s commentary came in response to Tyler Winklevoss, the co-founder of crypto exchange Gemini, who stated that such hiring of anti-crypto officials should stop soon. In a post on X platform Tyler wrote:

“This has gotta stop. Abusing government power to attack an industry then landing at a white-shoe law firm where you pitch clients at cocktail receptions w/ jetliner views saying, “I can protect you from the guys like me in government, who are doing to you what I did to crypto.””

This is not the first time that there’s growing dissent against former SEC official Gurbir Grewal. Earlier this month, Coinbase CEO Brian Armstrong issued a stark warning saying that his firm would reject working with other players who are hiring anti-crypto officials.

Armstrong announced that the crypto exchange has decided to immediately end any professional relationships with legal partners who employ such individuals. “It’s an ethics violation in my book to try and unlawfully kill an industry while refusing to publish clear rules,” he said.

#SEC #BITCOIN #BinanceAlphaAlert #GrayscaleHorizenTrust #MarketRebound $XRP $BTC $SOL

U.S. Spot Bitcoin ETFs Record $226M in Net Outflows on December 23

The U.S. spot Bitcoin ETFs faced significant net outflows totaling $226.42 million on December 23, marking the third consecutive day of declines, as per data from Trader T on X. This shift reflects varying investor sentiment during the holiday season amidst ongoing market volatility.

Key Insights Into ETF Activity

Despite the overall outflows, BlackRock’s IBIT stood out with a net inflow of $31.78 million, suggesting continued confidence among investors in the world’s largest asset manager’s Bitcoin fund.

On the other hand, major outflows were recorded across several ETFs:

Fidelity’s FBTC: $146 millionGrayscale’s GBTC: $38.4 millionBitwise’s BITB: $23.7 millionInvesco’s BTCO: $25.6 millionARK Invest’s ARKB: $15.7 millionGrayscale’s Mini BTC: $6.2 millionVanEck’s HODL: $2.6 million

Other ETFs reported minimal or no significant net flows.

Factors Influencing the Outflows

The net outflows indicate a period of caution among investors, driven by:

Year-End Portfolio Adjustments
Many investors rebalance their portfolios during the year-end, which could contribute to these withdrawals.

Market Volatility
Bitcoin has seen significant price fluctuations, raising concerns over near-term risks.

Institutional Strategy Changes
Institutional investors might be re-evaluating their strategies, leading to temporary shifts in capital.

BlackRock’s Resilience Amid Outflows
While most ETFs faced declines, BlackRock’s IBIT recorded notable inflows. This resilience underscores BlackRock’s growing influence in the cryptocurrency sector and its reputation as a trusted brand among retail and institutional investors alike.

Implications for Bitcoin and ETF Markets
The combined outflows emphasize the short-term uncertainty in Bitcoin’s trajectory.

#BitcoinETFs #SpotBitcoin #CryptoOutflows #BitcoinNews #CryptoMarket $BTC $ETH $BNB

Binance Announces Support for Fantom’s Rebranding to Sonic (S)

Leading cryptocurrency exchange Binance has announced its full support for the rebranding of popular altcoin Fantom (FTM) to Sonic (S).

The platform will facilitate the token swap at a 1:1 ratio and handle all technical requirements on behalf of its users.

This significant transition is set to take place in January 2025, with new trading pairs for Sonic (S) becoming active on January 16, 2025.

Key Dates for FTM Users
FTM Deposits and Withdrawals: Binance will halt FTM deposit and withdrawal services starting January 13, 2025, at 03:30 UTC.

Users are advised to complete all FTM deposit transactions before this time.

New Sonic (S) Pairs: On January 16, 2025, at 07:00 UTC, deposits for Sonic (S) will open. Simultaneously, the following trading pairs will be available: S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC, and S/USDT.

Futures Trading Closure: FTM futures contracts will cease on January 6, 2025. Users are encouraged to close their positions before this date to avoid automatic settlement.

Sonic (S): Tokenomics and Future Plans
Sonic (S) will launch with an initial circulating supply of 2.88 billion coins and a total supply of 3.175 billion coins. The annual inflation rate will stabilize at 1.75% four years after the launch of the Sonic Blockchain. Additionally, the total supply increase will be capped at 15% by 2031.

Sonic aims to expand the Fantom ecosystem and enhance the overall user experience. This strategic rebranding is expected to position Sonic (S) as a key player in the blockchain space, offering innovative solutions and greater scalability.

#Binance #Fantom #SonicRebrand #CryptoNews #FantomToSonic $FTM $BTC $ETH

How A Crypto Whale Earned $5M from PENGU Airdrop?

The memecoin craze is crazy in the 2024 crypto market, where various tokens filled investors’ pockets.

One such token was Pudgy Penguin’s native token, which went live with a massive PENGU airdrop, and with that airdrop, a crypto whale earned $5M.

Crypto Whale Made Earned $5M With PENGU Airdrop

The crypto market is full of opportunities to make heavy profits, and airdrops bring that to another level, as people can receive free cryptos and turn that into profits.

Interestingly, a crypto whale took it to another level, as it received  116.7M PENGU from the PENGU airdrop and earned a heavy profit with that.

Initially, these tokens were worth $394K, per the listing price of $0.003375. However, the same is worth $4.2M today, after the PENGU price grew 630% since its launch on December 18, 2024.

Interestingly, the crypto whale realized the Pudgy Penguin token’s worth as it is a famous NFT product and gained an instant listing on Binance.

Such listing on popular crypto exchanges increases the possibility of gains. Regardless, the whale spent 5,250 SOL, worth $1M, and bought an additional 34.42M PENGU, bringing his total holdings to $5.49M.

Similarly, another crypto trader made 14,500x returns on his Pudgy Penguin token investment. He turned $6 into $87k within a few days as he invested before the liquidity pool launched the token. Many similar incidents have amazed investors and increased the demand for Solana meme coins.

#CryptoWhale #PENGUAirdrop #PENGU #Cryptocurrency $PENGU $BTC $ETH

Bitcoin Santa Claus Rally Fades as December Prices Plunge

Based on available data, the Bitcoin Santa Claus rally appears unlikely to happen this year as the price of the crypto has fallen to its lowest since November.

The seasonal phenomenon where prices surge from Christmas to early January seems to be losing steam as Bitcoin fails to bounce back strongly after a big drop.

The cryptocurrency fell to $92,442 on December 23; down 14.5% from the December high of over $108,000. It briefly got back to $95,000; but is now at $94,000, down over 11% on the week.

December’s Dismal Performance 

Historically, Bitcoin and the crypto market have rallied during the holiday season, especially in years leading up to market cycle peaks. For example, Major rallies between Christmas and New Year were the precursor to the 2016 and 2020 bull runs.

The post-Christmas gains happened 8 out of 10 times from 2014 to 2023, between December 27 and January 2, according to reports, with gains from 0.7% to 11.8%.

However, 2021 was an exception: Bitcoin fell 26% from its November peak of $69,000 by Christmas and continued to decline into 2022. The current market downturn raises the question if 2025 – expected to be the next cycle peak year – will follow the traditional 4-year cycle since Bitcoin’s inception.

Drivers Behind Bitcoin’s Decline
Several factors are contributing to Bitcoin’s poor performance this December: 

Social sentiment for Bitcoin is at a 2024 low on December 22, according to market analytics. Negative sentiment often precedes a price recovery, but for now, it’s just general caution.

The lingering economic uncertainties like inflation and global monetary policies are also weighing investor confidence. Additionally, the correlation with traditional markets has dampened  Bitcoin’s potential to move independently.

#Bitcoin #SantaClausRally #CryptoMarket #BitcoinPrice #BTC $BTC $ETH $XRP

4 Best Cheap Cryptocurrencies to Buy Under 1 Dollar for 2025 Alt Season.

1. Movement (MOVE)
Movement (MOVE), the native token of the Ethereum-based layer-2 blockchain, has recently outperformed broader market trends, experiencing a sharp price increase. On December 20, MOVE reached an intraday peak of $0.877, with a market capitalization nearing $2 billion. Its price rally was supported by a 63% increase in daily trading volume, surpassing $1.6 billion. Open interest in MOVE futures markets also doubled within a day, rising from $56.03 million to $103.93 million, reflecting heightened interest from traders.

2. Toncoin (TON)
Toncoin (TON), currently ranked 13th in market capitalization, has experienced varied activity over the past year. Its market capitalization is approximately $13.16 billion, with a circulating supply of 2.55 billion tokens. Despite a recent price decline of 7.57% within the last 24 hours to $5.04, its trading volume increased slightly by 1.82% to $568.34 million, highlighting sustained interest among market participants.

3. Convex Finance (CVX)
Convex Finance (CVX), ranked 169th by market capitalization, has recently shown notable developments. Its market cap is approximately $380.9 million, with a total supply nearing 99.81 million tokens. The token is trading at $3.93, showing a significant monthly increase of 62.95%. The price is above its 200-day simple moving average (SMA) of $3.05, trading 29.4% higher, suggesting a strong upward trend.

4. Stratis [New] (STRAX)
Stratis (STRAX) experienced a significant price increase, marking notable activity in the cryptocurrency market. Over the past day, STRAX’s value rose to $0.07145, reflecting a daily gain of 14.86%. This increase coincides with a surge in trading volume, which jumped by an impressive 1497.58% to $360.73 million. Such activity suggests heightened market interest, potentially driven by underlying developments or broader market movements.

#Crypto2025 #AltSeason #CheapCryptos #BinanceAlphaAlert #GrayscaleHorizenTrust $BTC $ETH $XRP

Cardano founder Charles Hoskinson seeks bipartisan support for crypto regulations

Charles Hoskinson, who started Cardano, is looking for support from both parties for cryptocurrency rules by talking with Democratic senators, especially Senator John Fetterman.

His plan is to make rules that match the fast changes in digital assets and encourage teamwork among political parties.

Hoskinson believes that crypto goes beyond political divisions, highlighting the need for lawmakers from all parties to come together and look into the advantages that cryptocurrencies can bring to the country.

Hoskinson sees Senator Fetterman as an important ally. He appreciates Fetterman’s leadership, which promotes questioning party norms and welcoming new ideas.

Fetterman has attracted attention for his view on political issues, especially his thoughts on why Donald Trump appeals to voters who believe he embodies their idea of the American way of life.

Hoskinson has expressed worries that the current political situation, especially the Biden administration’s position and criticism from people like Senator Elizabeth Warren, is slowing down innovation in the crypto industry. He thinks the industry is being unfairly singled out during political conflicts, which might hold back its growth and potential.

Hoskinson is pushing for a “Crypto Users Bill of Rights” to solve important problems like protecting consumers, ensuring fair taxes, and defining asset categories clearly. This proposal is part of his larger plan, “Operation Baseline,” aimed at finding problems in the U.S. cryptocurrency market and advocating for legislative fixes.

Hoskinson is showing how cryptocurrency can bring people together in politics, promoting a modern way to regulate that could help the whole industry.

#CharlesHoskinson #Cardano #CryptoRegulations #BinanceAlphaAlert #GrayscaleHorizenTrust
$ADA $BTC $ETH

Justin Sun Dumps 50% of ETH; What Does It Mean for ETH?

Tron founder Justin Sun’s aggressive ETH selloff, totaling $143 million last week, has contributed to a 17% price drop.

Despite this, bullish technical patterns suggest Ethereum could recover and target $10,000 in 2024 after retesting lower support levels.

Tron founder Justin Sun’s aggressive ETH selling spree has drawn significant attention in the crypto community, particularly as Ethereum struggles to maintain key support levels.

Sun’s recent offloading of ETH has coincided with a sharp downturn in Ethereum’s price, leaving analysts and investors questioning the broader implications for the second-largest cryptocurrency by market cap.

As we have previously reported, Justin Sun has been systematically selling Ethereum, with his latest move involving the liquidation of 39,999 ETH, valued at $143 million.

Blockchain analytics firm Spot On Chain reported that Sun redeemed these tokens from liquid staking platforms Lido Finance and EtherFi before depositing the proceeds into HTX (formerly Huobi Exchange).

This recent transaction follows a broader trend:
since November 10, Sun has sold a total of 108,919 ETH worth approximately $400 million. The sales predominantly occurred near Ethereum’s local price peaks, suggesting a strategy to capitalize on short-term gains.

Currently, Sun has another 42,904 ETH (valued at $139 million) in the process of unstaking from Lido Finance, potentially signaling additional sell pressure.

Impact on ETH’s Price
The timing and scale of Sun’s sales have contributed to significant market turbulence. Ethereum’s price has dropped by 17% over the past week, plummeting from near $4,000 to below $3,500. Analysts are now warning that Ethereum could test the $3,000 support level before mounting its next rally.

#JustinSun #ETHDump #Ethereum #BinanceAlphaAlert $ETH $SOL $BTC

Cardano’s 18.53M ADA Unlock Sparks Fear, Price Crash Ahead?

ADA, the native token of the Cardano blockchain, appears to be struggling amid ongoing market uncertainty.

Adding to the concerns, a recent update regarding Cardano’s token unlock has sparked fear among traders and investors about a potential price dip.

Cardano (ADA) Token Unlock Scheduled
Today, December 24, 2024, a crypto insights provider, Tokenomist, posted on X (formerly Twitter) revealing that the Cardano blockchain is set to unlock 18.53 million ADA tokens worth $16.37 million on December 26, 2024. 

The report further stated that this substantial token unlocks accounts for 0.05% of Cardano’s total circulating supply.

With the recent token unlock, Cardano will have unlocked 85.44% of its maximum ADA supply.

ADA Current Price and Potential Impact

Based on the data, whenever a project unlocks its respective tokens, it typically creates inflows into exchanges, leading to selling pressure and a subsequent price decline. In the case of ADA, experts and analysts suggest that the token might face a price drop in the coming days.

At press time, ADA is trading near $0.93 and has experienced a price surge of over 8% in the past 24 hours. 

However, during the same period, its trading volume dropped by 5%, suggesting that traders and investors are still apprehensive about a potential price decline, which might explain the lower participation. 

Cardano (ADA) Technical Analysis and Upcoming Level
According to expert technical analysis, ADA has been consolidating within a tight range of $0.86 to $0.97 over the past five trading days. The breakout from this consolidation zone could determine whether ADA will rally or decline in the future.

Based on recent price action, if ADA breaks out of the consolidation zone and closes a daily candle above the $0.98 mark, it is highly likely to rally by 25% to reach the $1.25 mark.

#ADA #Cardano #BinanceAlphaAlert #GrayscaleHorizenTrust #MarketRebound $ADA $BTC $ETH

Merry Christmas!
🎄🤶

#BinanceAlphaAlert
#Bitcoin #CryptoNews #Crypto