Ripple’s regulated stablecoin, RLUSD, has witnessed substantial activity over the past 24 hours. According to a tracker monitoring RLUSD transactions, 3,000,000 RLUSD were transferred between unknown wallets following a recent minting operation. The RLUSD Treasury minted 3,404,712 RLUSD, increasing the circulating supply. This strategic minting and transfer are part of Ripple’s broader efforts to enhance … Continue reading "Ripple’s RLUSD Stablecoin Sees Increased Activity with New Listings" The post Ripple’s RLUSD Stablecoin Sees Increased Activity with New Listings appeared first on Cryptoknowmics-Crypto News and Media Platform .
Ethereum aiming much higher than you might think
Fartcoin's price surged 60% due to holiday excitement. Whale transactions significantly impacted Fartcoin's growth. Continue Reading: Fartcoin Surges Dramatically Due to Holiday Season and Whale Activity The post Fartcoin Surges Dramatically Due to Holiday Season and Whale Activity appeared first on COINTURK NEWS .
The recent surge in Ether exchange-traded funds (ETFs) inflows reflects growing institutional confidence, despite a current market dip. As of December 24, the total inflows for U.S. spot Ether ETFs
Russia, which yesterday imposed a 6-year ban on cryptocurrency mining in 10 regions, made a move against Bitcoin (BTC). According to Reuters, Finance Minister Anton Siluanov said that Russia has started using Bitcoin in foreign trade. Russian Finance Minister Anton Siluanov said that Russian companies started using Bitcoin and other digital currencies in international payments after the introduction of legal regulations against Western sanctions. Siluanov told Russia 24 television: “As part of the experimental phase, it is possible to use Bitcoins mined in Russia in foreign trade transactions. “Such transactions are already taking place. We believe they need to be expanded and developed further. I am confident that this expansion will happen next year.” Siluanov said the move was aimed at circumventing Western sanctions and increasing financial independence, adding that Russia would be trading more in digital currencies. Western sanctions imposed after Russia’s invasion of Ukraine have made it difficult for Russia to trade with major partners such as China or Turkey, as local banks are extremely cautious in dealing with Russia to avoid scrutiny from Western regulators. *This is not investment advice. Continue Reading: Critical Bitcoin (BTC) Statement from Russian Finance Minister!
Ether ETFs surpassed $2.5B in inflows, signaling optimism despite a 10% price drop and resistance at $3,500. Institutions like VanEck predict a $6,000 cycle top for Ether price during 2025.
The Constitutional Court of Montenegro has dismissed an appeal filed by Do Kwon, the South Korean crypto mogul and co-founder of Terraform Labs, who is at the center of the catastrophic collapse of the TerraUSD (UST) stablecoin and its token, Luna. Kwon’s appeal, which challenged his extradition ruling, was unanimously rejected by the court. Dwindling Legal Options for Kwon According to the report by local media outlet ‘Korea JoongAng Daily,’ the court’s decision upheld the earlier ruling favoring Kwon’s extradition, with the Justice Minister, Bojan Božović, set to make the final call on whether he will face trial in his home country of South Korea or be sent to the United States. Kwon’s appeal was rejected on grounds of legal inconsistencies. The court also dismissed his arguments of procedural unfairness and violations of his rights. Kwon has been under intense scrutiny since the May 2022 collapse of the TerraUSD (UST) stablecoin and its sister token, Luna, which caused a devastating $40 billion market loss. Both the US and South Korea have requested his extradition, accusing him of financial crimes, including fraud and market manipulation. After fleeing South Korea, Kwon traveled through several countries, including Singapore, the UAE, and Serbia, before being arrested in Montenegro in March 2023 for attempting to travel with a forged passport. As such, the latest ruling by the court significantly narrows Kwon’s legal options for delaying extradition, and analysts predict that Montenegro may ultimately send him to the US, where he faces charges related to the Terra-Luna collapse. Kwon’s legal situation is further complicated by a massive civil penalty imposed by the US Securities and Exchange Commission (SEC). In June 2024, Terraform Labs and Kwon agreed to a $4.5 billion settlement with the securities agency, including hefty fines for Kwon personally, as well as a ban on engaging in crypto transactions. Kwon’s Fate Hangs in Limbo Despite the ruling, Kwon’s legal team is expected to continue fighting against his extradition, particularly to the US, where the charges are more extensive. Meanwhile, South Korea has urged for a quicker resolution while expressing concerns over potential human rights violations due to delays in the extradition process. With the ruling, Kwon’s fate now lies in the hands of Montenegro’s Justice Minister, who will determine his next legal steps. The post Do Kwon’s Appeal Dismissed: Montenegro’s Court Upholds Extradition Ruling (Report) appeared first on CryptoPotato .
XRP witnesses mysterious $69 million activity on major US exchange XRP
MicroStrategy ( MSTR ) is about to make short sellers wish they had stayed in cash. This software company turned Bitcoin whale looks posied to be a problem for the bears betting against it. With over 444,000 bitcoins in its arsenal right now, MicroStrategy owns more Bitcoin than any other corporation in the world. President-elect Donald Trump’s pro-crypto policies are fueling a meteoric rise for the industry. He is expected to flip the script on regulation and set up a strategic national Bitcoin reserve. But what’s really about to light up is MicroStrategy, just as it joins the Nasdaq-100. This will force institutional investors to buy MSTR, adding nearly $11 million in retail capital to the pot. The result? A potential short squeeze that could send the stock price into orbit. MicroStrategy’s numbers: A high-stakes gamble with Bitcoin MicroStrategy has gone all in, staking its future on Bitcoin’s success. The company’s 2024 has been insane—its stock is up 440% over the past year and 123% in just three months. For context, that’s more than triple the performance of Bitcoin itself. In Q3, MicroStrategy reported $116.1 million in revenue, a 10.3% drop from the previous year. That’s not great, but let’s be real—nobody cares about the software business anymore. What matters is Bitcoin. By the end of October, the company’s stash had grown to 252,220 bitcoins, valued at $9.9 billion. This is the core of its strategy: buy Bitcoin, hold it, and wait for the price to explode. To fund this, MicroStrategy sold 8 million Class A shares for $1.1 billion and doubled its long-term debt to $4.3 billion. The company’s “21/21 Plan” is as ambitious as it sounds. MicroStrategy wants to raise $42 billion, split between equity and debt, to buy even more Bitcoin. If you think that’s excessive, you’re not wrong. But the market seems to love it. Gautam Chhugani from Bernstein raised his price target for MSTR to $600, calling the company’s Bitcoin strategy “unprecedented.” TD Cowen followed with a target of $525. Benchmark has the most bullish target at $650, nearly double the current price. Risks and rewards: The Bitcoin rollercoaster MicroStrategy’s bet on Bitcoin has paid off so far, but it’s not without risks. The company’s operating expenses soared by 300% in Q3 to $514.3 million, thanks to impairment losses on its digital assets. Its cash balance is just $46.3 million—a tiny cushion for a company this leveraged. And while the $3 billion convertible bond issuance at a 0% coupon provided interest-free capital, it’s a double-edged sword. If the stock price falls, MicroStrategy could be forced to raise more money to repay debt, creating a potential liquidity crisis. Yet, this hasn’t stopped CEO Michael Saylor from doubling down. MicroStrategy is banking on Bitcoin hitting $1 million by 2033. Analysts seem to think this is more than a pipe dream. Chhugani predicts MicroStrategy could own 4% of Bitcoin’s total supply by 2033. TD Cowen estimates the company’s holdings will reach $108 billion by 2027. As of press time though, short interest in MicroStrategy is climbing. Bears are betting the company’s focus on Bitcoin will backfire, but they’re playing with fire. When institutional money starts pouring in after Christmas, those shorts will be forced to cover, driving the stock price even higher. Analysts are calling this a perfect setup for a short squeeze, and they’re probably right. MicroStrategy’s current valuation is steep—157.65 times forward sales, to be exact. That’s higher than Coinbase and Block, two giants in the crypto industry. But investors don’t seem to care. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
According to COINOTAG News on December 25th, Russian Finance Minister Anton Siluanov announced that local enterprises are increasingly adopting Bitcoin and various digital currencies for international transactions. This shift is