Opening projections for major Asia-Pacific stock indices: ASX 200 (Australia): 8186 (-1.60%) Nikkei 225 (Japan): 38561 (-1.52%) Hang Seng Index (HSI) (Hong Kong): 19514 (-1.80%) FTSE China A50 (China): 13425
Fartcoin hits a $1 billion market cap amid crypto market declines, driven by Truth Terminal's viral meme chatrooms influence. The post Solana meme coin Fartcoin hits $1 billion market cap appeared first on Crypto Briefing .
Crypto exchange Coinbase has cited risks linked to Tron-founder Justin Sun during a lawsuit over its delisting of Wrapped Bitcoin ( wBTC ). In a recent complaint, the wBTC custodian and Sun-affiliated BiT Global accused Coinbase of using wBTC – the tokenized representation of Bitcoin ( BTC ) on the Ethereum ( ETH ) blockchain – as a “cash grab” before delisting it and replacing it with its own version of the asset. Said the complaint, “In the case of wrapped Bitcoin, Coinbase viewed it as just another cash grab. It saw a competitor, wBTC, that had something it wanted: an innovative product that released value inherent in Bitcoin and let users utilize that value in bold new ways… Coinbase decided it would take what it wanted. Once the value in wBTC had been demonstrated, Coinbase changed the rules, delisting wBTC from its platform so that it could no longer be traded on the Coinbase platform – and it did so shortly after launching its own knock-off clone called cbBTC.” In response to the complaint, Coinbase says it made the decision to delist wBTC largely because of its links to Justin Sun and the risks that would arise should he have any influence over it. The exchange notes that Sun’s name is “conspicuously” left out of BiT’s complaint. “Coinbase made the decision—based on a rigorous internal process—that wBTC should be delisted from Coinbase’s exchange due to the unacceptable risk that control of wBTC would fall into the hands of Justin Sun. BiT now asks the Court to override, on an emergency basis no less, Coinbase’s judgment that continuing to list wBTC could compromise the integrity of its platform and put customers at risk. BiT seeks to force Coinbase to do business with an entity that no longer complies with Coinbase’s standards due to Mr. Sun’s ‘material involvement.’ And yet, Mr. Sun’s name and connection to wBTC is conspicuously absent from BiT’s Complaint and TRO (temporary restraining order) request. So too is any acknowledgement that he has repeatedly been accused of, investigated for, and sued for financial misconduct, and that reports of his alleged misdeeds abound in the press and crypto community more broadly.” Coinbase also alleges that Sun is “infamous” in the crypto community and that he has been accused of several wrongdoings, including market manipulation and misappropriation of digital assets. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Coinbase Says Justin Sun ‘Unnacceptable Risk’ to Wrapped Bitcoin After Delisting wBTC appeared first on The Daily Hodl .
A newly created wallet has acquired a significant 5.29 million ENA tokens from Binance.
BOB (Build on Bitcoin), a hybrid layer two (L2) network, has advanced its mission to position Bitcoin at the center of decentralized finance (DeFi) by integrating with Babylon, a Bitcoin staking protocol. This collaboration enables BOB to secure transactions using Bitcoin as its anchor chain, providing a level of finality and irreversibility unique to the Bitcoin network. Integration Brings Bitcoin Finality to BOB The integration with Babylon equips Build on Bitcoin (BOB) with “Bitcoin finality,” ensuring that transactions recorded on its platform are permanently and irreversibly secured on Bitcoin’s blockchain. This mechanism, as a result, strengthens the security and trustworthiness of BOB’s hybrid layer two network, distinguishing it from other Bitcoin-based L2 solutions that lack Bitcoin-native security. Babylon, recognized as the leading Bitcoin staking protocol, manages a total value locked (TVL) of approximately $6 billion. The protocol, as a result, allows Bitcoin holders to stake their BTC, contributing to the security of decentralized applications and earning rewards in return. Introducing BOB as a Bitcoin Secured Network (BSN). Through our integration with @babylonlabs_io , we’re bringing Bitcoin finality to the Hybrid L2 and making @build_on_bob the best place to use BTC Liquid Staking Tokens (LSTs). https://t.co/K6baJZ2TAs pic.twitter.com/YmQLiaa9r9 — BOB (@build_on_bob) December 18, 2024 Through Babylon’s protocol, BOB can use Liquid Staking Tokens (LSTs) to release Bitcoin liquidity into DeFi applications while retaining Bitcoin’s robust security. Hybrid L2 Model Combines Bitcoin and Ethereum Features Build on Bitcoin hybrid layer two model blends Bitcoin’s security with Ethereum’s smart contract capabilities. The network aims to create bridges to other blockchains while using Bitcoin as the final settlement layer. With over $200 million in TVL, 320,000 users, and 100 projects, BOB has positioned itself as a prominent player in the Bitcoin DeFi ecosystem. The integration is also part of BOB’s larger roadmap. As part of Phase 2, BOB will launch bridges that connect Bitcoin to other networks using BitVM, a new computing framework enabling Ethereum-like smart contracts on Bitcoin. The testnet release for BitVM is scheduled for early 2025, signaling BOB’s commitment to expanding Bitcoin’s DeFi potential. Lombard’s LBTC Joins the BOB Ecosystem To further enhance its ecosystem, BOB has announced the integration of LBTC, the largest Bitcoin LST, managed by Lombard Finance. LBTC, with a TVL of $1.6 billion, becomes the fourth LST deployment on BOB, following Ethereum, Base, and Binance Smart Chain. Approximately 80% of LBTC’s TVL is already actively deployed in DeFi applications, reflecting its importance in the staking landscape. This addition bolsters Build on Bitcoin’s efforts to expand Bitcoin staking liquidity and amplify DeFi activity on its platform. Through partnerships with staking providers, wallets, and aggregators, BOB has simplified the process of staking Bitcoin with a one-click solution. Subsequently, to celebrate its integration with Babylon, Build on Bitcoin has launched a 45-day campaign aimed at incentivizing Bitcoin staking and DeFi activity. Over this period, an additional 4.5 million Babylon Points will be distributed daily to eligible users. In addition, the campaign includes additional incentives from BOB’s LST partners, such as Bedrock and PumpBTC, to encourage wider adoption. Users will be able to easily convert native Bitcoin into staking positions on Build on Bitcoin via the “BOB Stake” portal, which supports a seamless transition into DeFi applications. The post BOB L2 Taps Babylon To Secure Transactions with Bitcoin As Anchor Chain appeared first on CoinGape .
Bitcoin fell sharply for the first time in four days as markets reacted to the Federal Reserve’s latest rate decision. The apex crypto tumbled by as much as 5.3%, dropping to $100,752 after briefly soaring past $108,000 earlier this week in a record-breaking rally. Traders, spooked by the slower-than-expected pace of easing, pulled back speculative bets, hitting Bitcoin and other riskier assets. Fed signals fewer cuts The Fed’s quarter-point rate cut on Wednesday was widely expected, but its forecast left markets cold. Officials projected the benchmark rate to fall to 3.75-4% in 2025, down from an earlier prediction of a full percentage-point reduction. Morgan Stanley described the updated outlook as “much more hawkish than we anticipated.” This cautious approach suggests the Fed is prioritizing inflation control over aggressive stimulus. Fed Chair Jay Powell admitted that the December decision was a “closer call” than previous ones. He said inflation was moving “sideways,” while risks to the labor market had “diminished.” These comments signaled that the central bank might adopt a more restrained pace of easing moving forward. The policy change sent shockwaves through global markets. U.S. Treasury yields climbed, with the two-year note—closely tied to Fed policy—rising 0.08 percentage points to 4.33%. The dollar strengthened by 1% against a basket of major currencies, while Wall Street’s S&P 500 dropped 1%. Risk assets, including Bitcoin, bore the brunt of this recalibration. A recalibration in monetary policy The Fed’s rate cuts have been framed as part of a broader “recalibration” of monetary policy aimed at curbing inflation. Officials raised their estimate of the neutral rate—one that neither stimulates nor constrains the economy—to 3%, up from 2.5% a year ago. Revised forecasts showed the Fed expects core inflation, which excludes food and energy prices, to reach 2.5% in 2025 and 2.2% in 2026. These figures are slightly higher than earlier projections. Meanwhile, the unemployment rate is expected to hold steady at 4.3% over the next three years. Markets were already on edge following the September decision, where Fed Governor Michelle Bowman dissented, marking the first internal opposition to a rate cut since 2005. The December move, though expected, came amid continued debate among officials about inflation’s trajectory. The Fed’s preferred inflation gauge, the core personal consumption expenditures price index, rose at an annual rate of 2.8% in October. Powell described this phase as a “new process” in the Fed’s approach, explaining that future rate cuts would require a higher bar for approval. The Fed’s goal remains clear: bring inflation back to 2% without derailing the labor market or broader economy. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
On December 18th, Wednesday, the crypto market witnessed a surge in selling pressure following the U.S. Federal Reserve’s…
Musk Loves Bitcoin could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Musk Loves Bitcoin (MUSKBTC), a new Solana memecoin that was launched today, is set to explode over 13,000% in price in the coming days. This is because MUSKBTC is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Musk Loves Bitcoin can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Musk Loves Bitcoin could become the next viral memecoin. Musk Loves Bitcoin launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Musk Loves Bitcoin on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Musk Loves Bitcoin by entering its contract address – 35GthqqwTd9HokNVfUzGpjsALCJbeUXXeKeJcrPCZsJB – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MUSKBTC. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
El Salvador secures IMF deal, adjusting Bitcoin policy to voluntary acceptance, focusing on fiscal reform and economic resilience. The post El Salvador secures IMF deal as Bitcoin acceptance turns voluntary appeared first on Crypto Briefing .
A crypto analyst has shared an XRP price chart, analyzing its action on the 4-hour timeframe while pinpointing key metrics of strength that suggest a possible rally. The analyst has predicted that XRP is preparing for a significant run to $11, marking a new All-Time High (ATH). Key Metrics Suggest XRP Price Set For $11 Surge In an X (formerly Twitter) post on Tuesday, prominent crypto analyst Javon Marks shared key observations of XRP’s price behavior, noting signs of strength through crucial metrics and a potential for a significant price rally to a new ATH at $11. The analyst has suggested that XRP shows clear upward momentum, with a sharp increase visible on the presented price chart. Related Reading: Ethereum Price Crash Incoming? Tron’s Justin Sun Unstakes $209 Million ETH From Lido Finance Looking at the chart, XRP has been breaking recent resistance levels and maintaining bullish momentum. XRP’s strongest resistance at $0.5, which lasted for over three years, was broken earlier in November, jumping above $1 following Donald Trump’s victory in the US Presidential elections. Currently, the XRP price is trading above $2.5, underscoring the massive growth surge it has experienced in less than two months. Marks has revealed that he was keeping a close watch on alternative larger-term metrics for the XRP price that signal a potential surge to new ATHs. The volume bars below the price chart indicate steady buying pressure for XRP, with increasing trading volume during upward trends. Recently, the XRP accumulation trend among large holders has increased significantly. Crypto analyst Ali Martinez revealed via a price chart that whales have purchased a staggering 30 million XRP within the last 24 hours. This increased buying activity reflects the growing confidence in XRP, possibly fueled by the market’s bullish sentiment and expectations of a price rally. At the bottom of the XRP chart shared by Marks, the Relative Strength Index (RSI) illustrates a sharp upward curve, signaling the potential for a bull rally. The RSI appears as a fluctuating black line, clearly reflecting rising momentum. If XRP can sustain its current uptrend, it could surpass its current all-time high of $3.84 set during the 2021 bull market, potentially reaching a new high above $11 in this bull cycle. Update On XRP Analysis The XRP price has been persistently attempting to break through the resistance area at $2.5, aiming to reach new highs. Over the past month, XRP has had an impressive performance, recording a whopping 119.5% price increase. Despite being in consolidation, the cryptocurrency continues to exhibit strong growth, with its price climbing nearly 8% in the last seven days as it attempted to break through key resistance levels. Related Reading: Bitcoin Price Moves Similarly To The Elliot Wave Count From 2017, Why Price Can Jump Another 80% Data from CoinMarketCap has revealed that the XRP price is currently trading at $0.252. The cryptocurrency remains the third largest based on market capitalization after Bitcoin and Ethereum. Additionally, XRP has seen a notable increase in its daily trading volume, surging by 53.72% at the time of writing. Featured image created with Dall.E, chart from Tradingview.com