The weekly closing prices for December 16-23 are as follows: Bitcoin: $95,186 Ethereum: $3,281 XRP: $2.2031 Solana: $180.52 The total market capitalization stands at $3.2 trillion. ————— 💰Coin: XRP (
Catch up on this week’s biggest crypto and NFT gaming news and find some weekend reads in our latest roundup.
Bitcoin Price Drops to $94,250, $38 Million in Long Positions Liquidated in 4 Hours ————— 💰Coin: Bitcoin ( $BTC ) $95,127.50 ————— NFA.
While market struggling with elevated pressure, its future raises a lot of questions
President Donald Trump has officially announced the lineup for his newly minted Presidential Council of Advisers for Digital Assets, also known as the ‘Crypto Council.’ Leading the charge is Bo Hines, a 29-year-old Yale graduate and former congressional candidate. He will serve as the council’s Executive Director, working alongside Trump’s ‘Crypto Czar,’ David Sacks. The goal is to cement America’s dominance in blockchain and digital assets while driving innovation in a sector that Trump says will be a “cornerstone of our nation’s technological advancement.” “I am pleased to announce the brilliant team that will be working in conjunction with our White House A.I. & Crypto Czar, David O. Sacks,” Trump said in a Truth Social post. “Together, we will unleash scientific breakthroughs, ensure America’s technological dominance, and usher in a Golden Age of American Innovation!” Bo Hines: Trump’s choice to lead the Crypto Council Bo’ appointment has raised eyebrows, but Trump seems confident in his decision. Bo, who played football at Yale before earning his law degree from Wake Forest, brings a unique background to the role. In 2022, he ran as a Republican for North Carolina’s 13th congressional district but lost to Democrat Wiley Nickel. While Bo’ crypto credentials aren’t public, Trump has made it clear that his trust in Bo stems from his potential to deliver results in this high-stakes role. Meanwhile, Sacks has stood proud in his love for crypto. He first invested in Bitcoin literally two years after it was invented. “Bo will work with David to foster innovation and growth in the digital assets space,” Trump said. “Together, they will create an environment where this industry can flourish.” The council’s work will also align with Trump’s broader tech ambitions, which include advancements in artificial intelligence and other cutting-edge technologies. A star-studded tech lineup Michael J.K. Kratsios has been tapped as the Director of the White House Office of Science and Technology Policy (OSTP) and will serve as an Assistant to the President for Science and Technology. She’s gonna be part of the Council too. Kratsios is a Princeton graduate and Stanford Fellow, and he is no stranger to Washington. During Trump’s first term, he served as the United States Chief Technology Officer, a position unanimously confirmed by the Senate. Later, he took on the role of Under Secretary of Defense for Research and Engineering, where he earned the Department of Defense’s Distinguished Public Service Medal. Another member is Dr. Lynne Parker, who will join the administration as Executive Director of the Presidential Council of Advisors for Science and Technology (PCAST) and Counselor to the OSTP Director. Parker previously led the National Artificial Intelligence Initiative Office. She holds a PhD in Computer Science from MIT and has been instrumental in shaping U.S. AI policy. Trump emphasized the importance of PCAST, saying it will bring together “America’s most distinguished minds in science and technology.” David Sacks will also chair PCAST, doubling his responsibilities as a central figure in Trump’s tech agenda. Next is Sriram Krishnan, a former Microsoft engineer and founding member of Windows Azure, will serve as Senior Policy Advisor for Artificial Intelligence. Working closely with Sacks and Parker, Krishnan will help coordinate AI policy across the government. The crypto market’s mixed reaction The announcement comes during a turbulent time for the crypto market. Bitcoin is on track for its first weekly decline since Trump won the election victory. It has dropped over 7% this week, sitting around $95,000 as of press time, down from its record high of $108,000 on December 17. Ether and Dogecoin have seen steeper declines, with a wider crypto market gauge falling by 10%. Analysts point to the Federal Reserve’s hawkish tone and also its dismissal of Bitcoin as a major factor. Despite this, Trump’s genuine pro-crypto stance has kept the market incredibly optimistic in the long-term. Another one of the president’s key priorities is extending the Tax Cuts and Jobs Act (TCJA), which is set to expire in 2025. “We must act to ensure that the tax cuts I implemented continue to benefit American families and businesses,” Trump said today. He’s also proposed eliminating taxes on Social Security benefits, introducing tax deductions for car loans on American-made vehicles, and reducing the corporate tax rate from 21% to 15% for U.S. manufacturers. Trump is also targeting clean energy tax incentives established under the Biden administration, which he argues have led to higher costs for consumers. “We cannot allow these subsidies to distort our energy market,” he said. He has proposed eliminating “double taxation” for Americans living abroad, simplifying their tax obligations and ensuring they aren’t penalized for their global ties. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
Pompliano believes 2025 will be a significant year for Bitcoin. Institutional interest may increase as Bitcoin's market cap grows. Continue Reading: Anthony Pompliano Maintains Positive Outlook for Bitcoin Despite Price Drop The post Anthony Pompliano Maintains Positive Outlook for Bitcoin Despite Price Drop appeared first on COINTURK NEWS .
On Sunday, President-elect Donald J. Trump revealed that Stephen Miran, who previously served during Trump’s first term, will helm the Council of Economic Advisers. Miran is seen as a pro-bitcoin ally, openly advocating for cryptocurrencies’ role in driving both innovation and economic progress. Trump Taps Stephen Miran to Shape U.S. Economic Policy Stephen Miran, a
Recent whispers in the crypto world have suggested that the United Arab Emirates (UAE) now holds a staggering $40 billion in Bitcoin (BTC). The crypto community, including prominent crypto commentator Bitcoin Archive, has questioned the legitimacy of these reports. Meanwhile, some sources tout this claim as a sign of the UAE’s growing crypto influence. The $40 Billion Bitcoin Claim: Fact or Fiction? The claim that the UAE holds $40 billion in Bitcoin has raised eyebrows, especially as no credible sources have confirmed this. The Bitcoin Archive has expressed skepticism about the report, questioning the lack of supporting evidence. According to the Bitcoin Archive, a move of this magnitude would have made global headlines, given the UAE’s influence in the crypto space. He revealed that the original report by Bitcoinist lacked trustworthy sources. Upon further investigation, the Bitcoin Archive found no verification of such a purchase. He cast doubt on the authenticity of the $40 billion figure. UAE’s Crypto-Friendly Environment In recent years, the UAE has established itself as a global leader in the crypto space. Through strategic initiatives like the crypto center in Dubai, the country has created a thriving ecosystem for blockchain startups. These initiatives have made t he UAE a prime destination for crypto entrepreneurs and investors worldwide. The government’s forward-thinking approach to digital assets has helped attract billions of dollars in crypto investments, including a significant portion in Bitcoin. If accurate, the surge in Bitcoin holdings is aligned with the broader global bull market, which has seen many nations increase their crypto reserves. UAE’s Expanding Crypto Market While the $40 billion Bitcoin claim remains unproven, the UAE’s growing involvement in the crypto space is undeniable . Between 2023 and mid-2024, the country saw a massive influx of $34 billion into the crypto market. This marked a 42% increase from the previous year. This surge highlights the country’s growing role in the global crypto ecosystem. Bitcoin remains a major player in the UAE’s crypto landscape, holding 19% of the market share. However, stablecoins like Tether’s USDT dominate 51% of the market. Tether has plans to launch a dirham-backed token . This further shows the UAE’s commitment to digital assets and its vision of becoming a central hub for crypto innovation. By 2025, the number of crypto users in the UAE will reach 3.78 million. Additionally, a recent report revealed that 72% of UAE residents had already invested in Bitcoin by early 2024. Institutional investors and big funds play a significant role in this growth. These statistics show that the UAE is rapidly becoming a leader in crypto adoption. The post Expert Discard UAE’s $40 Billion Bitcoin Stash Claim appeared first on TheCoinrise.com .
US President Donald Trump announced the appointment of Bo Hines as the Executive Director of the Presidential Council of Advisors for Digital Assets, which Trump referred to as the “Crypto Council”, in a statement he made on the Truth Social platform. Hines, a former college football player and 2022 Republican candidate for North Carolina’s 13th congressional district, steps into the role with the support he received from pro-crypto political action committees (PACs) during his campaign for Congress. While his political candidacy was unsuccessful, his new role signals Trump’s intent to advance crypto-related innovation and regulation. “In his new role, Bo will work with David Sacks to drive innovation and growth in the digital asset space while ensuring industry leaders have the resources they need to succeed,” Trump said. “Together, they will create an environment where this industry can thrive and continue to be a cornerstone of our Nation’s technological advancement.” Related News: Alleged Satoshi Nakamoto Candidate Responds to Claims that Quantum Computers Will Crack Bitcoin's Password! David Sacks, who Trump previously appointed to oversee crypto and artificial intelligence (AI) issues at the White House, will work with Hines in shaping the administration's vision for digital assets. Trump’s focus on digital assets comes amid a broad range of economic appointments. Earlier today, he appointed former Treasury Department official Stephen Miran as chairman of his Council of Economic Advisers. Miran, who has drawn attention for his stance on financial regulation, recently voiced his concerns on The Bitcoin Layer podcast, saying: “I think financial regulation is overly burdensome and prevents banks from lending as much as they want to into the economy. And I think sometimes that can really stifle innovation in areas like [the crypto economy].” *This is not investment advice. Continue Reading: BREAKING : Donald Trump’s Crypto Council Director is Announced – It Wasn’t Expected
Mohammed Azharuddin Chhipa, 35, from Springfield, Virginia, was convicted on December 13, 2024, for providing material support to the Islamic State of Iraq and al-Sham (ISIS), which has been designated a terrorist organization by the United Nations and others. The charges stemmed from his actions between October 2019 and October 2022, during which he raised funds to assist female ISIS members in Syria. Guilty of Financing ISIS Operations In an official press release, the United States Department of Justice (DOJ) revealed that Chhipa’s efforts included financing the escape of women from prison camps and supporting ISIS fighters. He also collected funds through various online social media accounts, receiving electronic transfers, and physically gathering money by traveling long distances. The authorities revealed that Chhipa then converted the money into cryptocurrency, which was sent to Turkey and smuggled into Syria for use by ISIS. Chhipa’s primary accomplice was a British-born ISIS member in Syria who played a key role in the fund-raising efforts, including for terrorist activities. Over the course of the scheme, Chhipa sent over $185,000 in cryptocurrency to support ISIS operations. The jury convicted him on one charge of conspiracy to provide material support to a foreign terrorist group and four counts of providing such support. Chhipa now faces a maximum sentence of 20 years in prison for each count. A sentencing hearing is set for May 5, 2025, where a federal district court judge will determine the sentence based on US Sentencing Guidelines and other legal considerations. Crypto’s Role in Terrorist Fundraising Many experts have flagged that ISIS has been using crypto for fundraising. TRM Labs’ report from last August revealed that pro-ISIS networks in countries such as Tajikistan, Indonesia, Pakistan, and Afghanistan have raised significant funds using crypto assets like Tether (USDT) on the Tron network. One such campaign, which operated for over a year, raised nearly $2 million in USDT for ISIS affiliates in Afghanistan. TRM Labs also traced over $517,000 in 2022 sent from an Indonesia-based platform to pro-ISIS accounts. However, it is also important to note that industry experts such as Chainalysis have previously clarified misconceptions regarding the use of cryptocurrency in terrorism financing. While entities like Hamas and Hezbollah use crypto for fundraising, these transactions represent a minor fraction of illicit crypto activities. Chainalysis stresses that terrorism financing remains a small part of overall illicit crypto transactions, with traditional methods such as financial institutions and shell companies being the primary sources of funding. The firm also pointed out that blockchain transparency makes it difficult for terrorists to hide transactions, as seen when Hamas ceased accepting Bitcoin donations. The post ISIS Crypto Fundraiser Mohammed Chhipa Faces 20 Years After Conviction in Virginia appeared first on CryptoPotato .