Из жизни альткоинов

Аналитик K33 Research Ветле Лунде заявил, что средняя продолжительность между первым и последним историческим максимумом цены биткоина составляет 318 дней. В случае повторения паттерна, очередной пик курса будет достигнут 17 января.

Мемкоин Unicorn Fart Dust (UFD) на основе Solana, созданный YouTube-блогером Рональдом Бранстеттером,  который поддерживает инвестиции в золото и серебро, достиг рыночной капитализации более $240 млн спустя всего 48 часов после запуска.

Инвестиционная компания BlackRock опубликовала видео о первой криптовалюте, в котором утверждается, что ограничение эмиссии биткоина в 21 млн монет в будущем может быть пересмотрено.

Баварское государственное управление по защите данных (BayLDA) приказало криптопроекту Worldcoin удалить биометрические данные, полученные в результате сканирования радужной оболочки глаза у местных пользователей.

In a direct address to the public, Ilya Lichtenstein, who pleaded guilty last year to charges connected to the 2016 theft of approximately 120,000 Bitcoin from the crypto exchange Bitfinex, issued a new statement on Thursday refuting alleged third-party involvement in the hack. His five-minute video, posted to X, represents Lichtenstein’s first publicly available statement since his arrest in 2022. He directly challenged claims made in a Netflix documentary suggesting his father—or any external party, including possible foreign intelligence agencies—participated in the infamous heist.

Lichtenstein Stole 120,000 Bitcoin Alone

Speaking to the camera, Lichtenstein said: “I planned and executed the Bitfinex heist entirely by myself. And I am the one who bears full responsibility for everything that has happened.” He further disputed other speculations, stating: “Any allegations that my elderly and not at all tech-savvy father had any involvement in any hacking activity ever are completely false and frankly absurd.”

The 2016 hack of Bitfinex stands as one of the most significant security breaches in crypto history. At the time, the theft of 120,000 Bitcoin was valued at approximately $72 million, though the current market value of those coins is estimated to exceed $12.6 billion. Prosecutors have previously noted that Ilya’s wife, Heather “Razzlekhan” Morgan, became involved only after the fact, having pleaded guilty to one count of money laundering conspiracy and one count of conspiracy to defraud the United States.

In the video, Lichtenstein maintained that Morgan’s role did not extend to hacking or orchestrating the theft itself: “While it is true that my wife pleaded guilty to laundering a small portion of the funds, she was in no way involved in the hack itself. She didn’t even know about it for years.”

According to official statements and the plea agreement, Lichtenstein has been cooperating with authorities to facilitate the return of stolen funds. During the video, he reiterated these efforts: “For the past three years, I have worked hard to account for and return all assets down to the last Satoshi as required by my plea agreement. And I will continue to do so throughout the forfeiture and restitution process, which is expected to return more than $10 billion by the first quarter of next year.”

Lichtenstein openly acknowledged his wrongdoing: “I hacked Bitfinex. I stole and laundered thousands of Bitcoin. And I am so sorry for everything.” He expressed remorse and a desire to make amends, describing himself as having made “one bad selfish decision after another” during the period of the hack and its aftermath. Emphasizing his sole responsibility, he stated: “Nobody else except for me is responsible for the hack.”

He also indicated plans for his future following the completion of his prison sentence: “When I am released from prison about a year from now, I plan to dedicate myself to working in the cybersecurity industry.” Claiming a unique perspective informed by his past illicit activities, Lichtenstein believes he can contribute to cybersecurity defenses going forward: “Nobody understands how hackers think like someone who has been a hacker… I know the cyber threats that we face, and I know how to stop them.”

All claims, as Lichtenstein noted, can be verified by publicly available court documents. He advised Netflix viewers to read these documents to develop their own informed conclusions: “You don’t have to take my word for it. All of the court documents laying out the facts of the case are publicly available. You can read them yourself and make up your own mind.”

Neither representatives of Bitfinex nor Netflix have publicly commented on Lichtenstein’s video at the time of reporting.

At press time, Bitcoin traded at $102,371.

Высокий суд Лондона приговорил скандально известного австралийского предпринимателя Крейга Райта к 12 месяцам тюрьмы с отсрочкой исполнения приговора на два года и штрафу на $180 000 за неуважение к суду.

Эксперты платформы Syndica заявили, что совокупный объем комиссий, полученных приложениями на базе Solana, по итогам ноября достиг максимальных $365 млн, включая $106 млн на «фабрике мемкоинов» Pump.fun.

Data shows a large amount of liquidations have piled up on cryptocurrency exchanges during the past day as Bitcoin and the altcoins have crashed.

Bitcoin & Other Assets Have Witnessed Bearish Action In Last 24 Hours

The past day has been a volatile time for the cryptocurrency sector as the US Federal Reserve has revealed a cautious outlook on interest rate cuts during the latest Federal Open Market Committee (FOMC) meeting.

Reacting to the news, the Bitcoin investor selloff took the price to as low as under $99,000, but the crash was only short-lived, with the digital asset’s price showing some quick recovery.

As is visible in the above graph, Bitcoin has already returned above $102,400, meaning the coin is down less than 3% during the last 24 hours. The altcoins, however, haven’t been so lucky, as most of them are still down notable amounts. Ethereum, the second largest asset in the sector, has seen losses of 5% in this window.

With the market-wide price crash, it’s not a surprise that the derivatives side has gone through chaos of its own.

Crypto Longs Have Just Taken A Massive Beating

According to data from CoinGlass, there has been a mass amount of liquidations in the cryptocurrency derivatives market during the past day. “Liquidation” here refers to the forceful closure that any open contract undergoes after it amasses losses of a certain percentage.

Below is a table that shows the numbers relevant to the latest market flush:

As is visible above, there have been almost $790 million in cryptocurrency-related liquidations over the last 24 hours. Out of these, $662 million of the contracts involved were long ones, representing 84% of the total. This is naturally down to the fact that the market as a whole has crashed.

In terms of the contributions from the individual symbols, Bitcoin and Ethereum have predictably come out on top once more.

Out of the rest, XRP, Dogecoin, and Solana have stood out, as they have each contributed to $40 million, $29 million, and $23 million in liquidations, respectively.

A mass liquidation event, popularly called a squeeze, isn’t something too uncommon for the cryptocurrency sector, due to the fact that assets tend to be volatile and leveraged trading is popular. That said, the scale of the latest flush is still notable and underlines the high speculative interest present in the market amid the bull run.

The squeeze hasn’t discouraged these traders, either, as the Bitcoin Open Interest continues to sit at an all-time high (ATH).

Sui has entered a consolidation phase after reaching a record high price level earlier this week. Meanwhile, Solana is experiencing strong bearish pressure as the token fails to regain its upward momentum. Amidst this sentiment, analysts believe Rollblock’s viral new altcoin could outshine both SOL and SUI with a massive 100x rally in early 2025.

Rollblock (RBLK) Experiences Whale Activity Before Highly Anticipated Token Launch

Rollblock’s presale has already raised more than $7.34 million which reflects the platform’s massive demand. Since Rollblock is getting closer to its official token launch on the open market, analysts are pointing out increased whale activity for the platform’s native $RBLK. 

This whale movement is all thanks to Rollblock’s innovative strategy to combine the $500 billion per annum global gaming market with the $3.1 trillion crypto industry. If Rollblock continues to experience high buying activity, analysts are already predicting a total of 880% gains for early RBLK holders before the end of its presale. For now, $RBLK tokens are selling for just $0.0415 each which is the lowest price it will ever be. 

Rollblock has also announced a new sports feature for its viral GameFi ecosystem. With this new feature, Rollblock users will be able to place high stakes games on international sports leagues such as the NBA, NFL, UFC, La Liga, MMA and more. Even before this big upgrade, Rollblock already offers 7000+ AI-powered games on its massive ecosystem. Since the gaming library includes both cult classics and newer Web3-based games, Rollblock is attracting a variety of high rollers and savvy traders to its innovative project. 

Another reason why Rollblock is experiencing high whale activity is the platform’s ingenious revenue sharing model. At the end of every week, Rollblock uses 30% of its revenue to purchase $RBLK tokens on the open market. While 40% of these tokens are distributed amongst current token holders as staking rewards, the other 60% are burned forever to keep Rollblock’s circulating supply low. With these deflationary tokenomics, it is no surprise that RBLK is already poised to experience a massive 100x rally on its official launch day. 

Sui (SUI) Enters Consolidation Period After Recording New All-Time High Price

Sui’s price reached a record high at $4.93 earlier this week after Bitcoin surpassed the critical $100K milestone. Aside from Bitcoin’s growth, Sui’s recent rally was also driven by the platform’s strategic partnership with China’s Ant Digital. Since Sui’s new venture is focused on tokenizing real-world assets (RWAs) in the environmental, social and governance sector, analysts expect Sui’s price to experience another bullish wave after consolidating its losses. 

Sui is currently trading for $4.59 after an intraday decrease of 2.00%. Despite this sudden decline, Sui still has considerable community support as the token’s market sentiment is 84% bullish. Sui’s technical indicators such as the RSI and MACD indicators also confirm the bullish thesis. If Sui rises towards its ATH level again, Sui’s price could enter a discovery towards the $7.40 resistance. 

Solana (SOL) Struggles to Fight Bearish Pressure 

Solana’s price reached an all-time high at $264 on November 23 but failed to enter a price discovery phase. Since Solana has been on a clear downtrend for the past 25 days, analysts are beginning to lose confidence in Solana’s recovery. Despite Solana’s extremely bearish outlook in the short term, the token’s long-term analysis is showing signs of an explosive rally. 

Since Solana has been forming several lower highs and lower lows, analysts expect Solana to repeat a fractal bull flag pattern from January 2024. Although the January rally resulted in a triple-digit rally in Solana’s price, analysts are only predicting Solana’s price to reach the $300 mark this time. At the time of writing, Solana was trading for $216.28 after another intraday decrease of 4.26%. 

Rollblock to Outperform Solana and Sui in Early 2025

While Sui consolidates its losses and Solana struggles to fight the bearish pressure, savvy traders are jumping ship to Rollblock’s viral presale. Since Rollblock is expected to rally by a total of 880% before the end of its presale stages, now is the ideal time to invest in $RBLK before the price skyrockets in early 2025. 

Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!

Website: https://presale.rollblock.io/

Socials: https://linktr.ee/rollblockcasino 

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

As the market enters the euphoric phase of the cycle, all eyes are on meme coins. Dogecoin, Pepe and Bonk are among the favorites and are expected to soar much higher in the upcoming months. However, all these projects have already had their 100x runs several times over. With their market caps in the billions, they have passed the point of diminishing returns. 

For this reason, many investors are now allocating capital to undervalued gems that have yet to prove their worth. One such project is, Cutoshi, which has been consistently trending on X, and thousands are rushing to the viral presale of the $CUTO token.  

Moreover, attention is also increasingly shifting toward utility-focused projects, with legacy altcoins like Ripple and Cardano experiencing triple-digit rallies over the last month alone. Cutoshi is set to launch at the best possible time of the cycle, as it merges together meme vibes with a DeFi ecosystem. 

What Sets Cutoshi Apart From Other Memes?

When it comes to meme coins, utility is often viewed as an option. Most of these projects are purely hype-driven and many of them plummet to near-zero after the first major sell-off, as the charts show time and time again. Those who rise to the top, such as Shiba Inu and Bonk, are supported by robust tokenomics and clear long-term roadmaps.

Behind the cute and cartoonish surface, Cutoshi boasts CUTO DEX, a decentralized exchange that integrates isolated blockchains in one place and allows for seamless, lightning-quick swaps.

The project prioritizes privacy and decentralization, the two cardinal precepts of crypto philosophy, echoing the teachings of Satoshi Nakamoto the legendary Bitcoin creator.

This means that middlemen are removed from the equation, while investors retain sole custody of their assets. Simultaneously, their sensitive data remains untouchable, as no KYC is required to join.

Cuto Farm Offers Fantastic Passive Income Opportunities

Cutoshi pays tribute to the Lucky Cat of Japanese legends, which is believed to bring good fortune to businesses and families. In a similar fashion, Cutoshi brings prosperity to the blockchain and its rapidly growing community via Cutoshi Farming, a unique reward mechanism that will allow users to earn generous prizes.

During and after the presale, individuals will be able to complete fun missions and tasks aimed at engaging with the community and boosting Cutoshi’s presence in the crypto space. For their loyalty, they will receive Cuto points, which can be exchanged for $CUTO tokens once the presale ends. Additionally, to promote long-term holding and healthy price action, Cutoshi will soon launch a staking option, allowing users to earn passive income.

This system has been designed to maximize returns, as holders will be able to earn money via two major avenues while also enjoying the inevitable appreciation of the $CUTO token.

Discover Cutoshi Academy

One of the project’s most intriguing features is the Cutoshi Academy, an educational hub that seeks to narrow the knowledge gap between newbies and crypto veterans. In the academy, beginners will find resources that teach the basics of DeFi, the ins and outs of trading and how to build a future-proof portfolio.

The crypto world can be quite overwhelming for newcomers and for this reason, this initiative has already garnered significant praise. Not only does Cutoshi encourage widespread adoption but it also helps foster a welcoming and inclusive environment.

Why The $CUTO Presale Is One Of The Best Plays Of 2025.

Right now, stage 4 of the $CUTO presale is underway and tokens are on sale for a discounted price of $0.031. Given all that Cutoshi brings to the table and its low-cap status, it could vastly outperform established majors like Shiba Inu and Bonk at the peak of the 2025 bull run. Joining today could lead to impressive returns as meme season goes into overdrive!

For more information on the Cutoshi (CUTO) Presale:

https://cutoshi.com/

Join and become a community member: 

https://twitter.com/CutoshiToken

https://t.me/cutoshi

The Dogecoin price has been stuck in a state of correction and consolidation since the first week of December after a crazy multi-week rally that saw it peaking just below the $0.48 price level. Recent price action in the past 24 hours and seven days has been riddled by declines, with the RSI indicator reflecting a corresponding drop.

Crypto analyst Master Kenobi recently drew attention to this notable development in Dogecoin’s Relative Strength Index (RSI), highlighting its earlier break above 90% and comparing the current bull market with the patterns observed during DOGE’s 2021 rally.

DOGE RSI Mirrors That Of The 2021 Bull Market

Master Kenobi’s recent update on X outlines a striking similarity between Dogecoin’s RSI levels during the current cycle and those observed in the early stages of the 2021 bull market. In both instances, the RSI reached 90, which is far above the 70 threshold of overbought conditions. Particularly, the RSI indicator shows that the Dogecoin price reached overbought condition in November 2024 but continued to climb until early December.

Interestingly, the 2021 rally’s peak was followed by a significant cooldown, with the RSI dropping to 43% and the Dogecoin price plummeting by 55% over a 25-day period. Furthermore, Kenobi highlighted the RSI’s oscillation between two key lines at the 90 and 40 readings during the 2021 Dogecoin rally, which is a pattern that could repeat itself in the current bull market.

This time around, while the RSI has followed a similar trajectory of reversing after hitting 90 overbought condition, the price movement has been noticeably less severe. Over the 35 days since the RSI’s peak, the Dogecoin price has experienced a lesser 28% decline, which suggests it is now more stabilized than it was in the previous bull cycle.

What To Expect For Dogecoin Price?—Key Dates To Watch

As it stands, the Dogecoin RSI is currently around 43 and looks like it is going to decline further to 40. While the 2021 pattern doesn’t predict what will happen next, we can have an idea of what could play out next. If the pattern were to repeat itself, we could see the RSI rebounding towards the 90 reading at least two more times this cycle.

In an earlier analysis, Master Kenobi pointed out a narrowing timeframe between key RSI peaks across Dogecoin’s market cycles. From 260 days in the first cycle to 240 days in the second, and now 225 days in the ongoing cycle. Furthermore, the RSI consistently halts at similar levels, which showcases a degree of predictability in its behavior.

Kenobi also emphasized that DOGE appears to be slightly ahead of historical trends, and the RSI is holding above its moving average. This suggests that the current bull cycle may still have room for growth, especially as the industry moves into a more crypto-favorable landscape in the US and other countries.

Looking ahead, crypto analyst Master Kenobi highlights January 2, which stands out as a pivotal date to watch for Dogecoin. At the time of writing, the Dogecoin price is trading at $0.362 and is down by 5% and 13.3% in the past 24 hours and seven days, respectively.

Jerome Powell, chair of the US Federal Reserve, recently dismissed speculations that the Fed may add Bitcoin to its reserves. At the end of the its two-day meeting, Powell stated that the Fed isn’t allowed to own Bitcoin and doesn’t desire to get involved in any government initiative to create a stockpile of digital assets. 

The Bitcoin announcement comes after the Fed announced rate cuts while signaling uncertain monetary policies in the next few months. Powell’s announcement was surprising when President Donald Trump announced key appointments of crypto-friendly personalities. The market immediately reacted to Powell’s statement, sending Bitcoin’s price down by 5.7%. Other top altcoins like XRP also shed value.

Powell Thumbs Down Plans To Add BTC To Reserves

The debates on whether it’s time to create a stockpile of Bitcoin gained traction after Donald Trump secured a win and another presidency. Trump used Bitcoin and crypto as part of his campaign to attract support from crypto personalities and commentators. And by appointing key crypto-friendly personalities to top government positions and promising to revamp the SEC leadership, many expect to predict a Bitcoin stockpile soon.

Powell says Fed cannot hold Bitcoin, not seeking to change that https://t.co/72RQGK1Q6K

— ST Business Desk (@stbusinessdesk) December 18, 2024

However, Powell has categorically stated that the US banking system cannot hold Bitcoin. He argued that according to the Federal Reserve Act, there are rules on what banks can own, and Bitcoin is not included in the list.

He announced that they’re not looking to change the law soon, and it’s up to Congress to decide. 

Interest In Bitcoin Strategic Reserve Continues To Grow

Despite the Fed chair’s opinion on Bitcoin as a reserve asset, there has been growing attention on Bitcoin as a potential reserve asset. During the elections, Trump supported the proposal and even suggested that the US should become the center for crypto developments. Other pro-Bitcoin policymakers, like Wyoming Senator Cynthia Lummis, have been campaigning for Bitcoin to be considered a reserve. `

Early this year, Lummis filed a bill asking the US Treasury to buy and add Bitcoin to the reserve. Under the Lummis bill, the US Treasury will adopt a program to buy 20,000 BTC annually for five years until the reserve holds 1 million tokens.

Bitcoin’s Price Drops After Powell Statement

The market reacted negatively to Powell’s statement, with Bitcoin’s price dropping to $100,300, down by roughly 5.7% compared to the previous day’s close. As of press time, Bitcoin’s 24-hour trading value is between $98,839 and $105,306.

Other top cryptos followed Bitcoin’s lead, with Ethereum dropping by 6.8%, Solana by 8.1%, and Binance Coin shedding 4.6% in value. Dogecoin was the worst performer among the top altcoins, dropping to $0.348, or an 11% loss. Also, the stock market tumbled after the Fed official’s statement. The Nasdaq 100 dipped by 2%, and S&P ended the trading day with a 1.55% loss.

Featured image from Pexels, chart from TradingView

A certified Chartered Market Technician (CMT) analyst recently shared a chart discussing the XRP price potential for a bullish surge. Basing his projections on key technical indicators, the analyst believes that the XRP price rally still has a long way to go before it reaches overbought levels.

Technical Indicators Signal XRP Price Bullish Reversal

CMT-certified crypto analyst Tony Severino took to X (formerly Twitter) on December 18 to highlight the potential for an XRP price bullish reversal to the upside. The analyst points to the combination of historical technical signals and tightening Bollinger Bands (BB) as an indication of a looming price rally. 

The analyst has expressed confidence in the XRP price outlook, admitting that he had underestimated its bullish potential. He revealed that the XRP/BTC quarterly chart looks exceptionally strong, with its three-month candlestick closing above the Bollinger Bands basis at 0.00001717, for the first time since April 2019. 

Severino revealed that the XRP price had touched the upper Bollinger Band at $0.0000286, a critical level typically associated with significant bullish momentum. According to the analyst, a quarterly close above this upper band could serve as a buy signal for XRP, emphasizing that the Bollinger Bands are currently at their tightest levels in the XRP/BTC history. 

In addition to this development, XRP’s Relative Strength Index (RSI) on the three-month chart is 47.87, steadily moving towards 50 after breaking above its RSI-based moving average at 43.44. Severino noted that an RSI above 50 often indicates increasing strength in a cryptocurrency, and historically, some of the largest price movements have occurred at an RSI above this level. 

The analyst further revealed that XRP’s Fisher Transform is flipping bullish. This technical indicator is used to identify turning prices and trend reversals in cryptocurrencies. According to Severino, XRP’s Fisher Transform turned positive after showing a multi-year bullish divergence, which further strengthens its potential for a price rally and optimistic outlook. 

Momentum Oscillators Indicate Extended Upside

In addition to its technical indicators, Severino has revealed that momentum oscillators such as the Logarithmic Moving Average Convergence Divergence (LMACD) and Stochastic Oscillator point to a potential price rally for XRP. Currently, the bearish momentum for XRP’s LMACD is weakening and steadily approaching a bullish crossover for the first time on the XRP/BTC chart. This pivotal shift suggests a potential trend reversal, signaling an extended upside for the XRP price.

Meanwhile, the Stochastic Oscillator at the %K line has hit its highest reading of 71, indicating a potential for a strong continuous upward momentum. The technical indicator also highlights that XRP still has a long way to go before it enters overbought territory. As of writing, the XRP price is trading at $2.36, marking a 6% decrease from its earlier price of $2.5 in the past 24 hours, according to CoinMarketCap. 

A member of the South Korean national legislature could possibly face imprisonment for allegedly misdeclaring his cryptocurrency holdings.

State prosecutors recommended that the legislator be sentenced to a six-month jail time for not disclosing a significant portion of his crypto assets, and failing to adhere to the South Korean policy on transparency and accountability of public servants.

Prison Sentence

A state penitentiary might be awaiting Kim Nam-kook, a member of the South Korean National Assembly, for non-disclosure of all his cryptocurrency holdings, violating the country’s code of ethics for public officials.

State prosecutors accused Kim of deliberately failing to report his cryptocurrency holdings, alleging that he intentionally concealed owning a substantial amount of digital assets.

During a legal proceeding, the prosecution team asked Judge Jeong Woo-yong of the 9th Criminal Division of the Seoul Southern District Court to sentence the former Democratic Party legislator to six months of imprisonment.

According to the South Korean prosecutors, Kim erroneously declared his crypto assets, suggesting that the lawmaker should be charged with obstruction of official duties.

The public prosecutors claimed that “the defendant intended not to declare the coins he owned.”

“He obstructed the National Assembly Ethics Committee’s review of the National Assembly member’s assets in a false manner,” the prosecution team added.

A South Korean congressman was sentenced to six months in prison by prosecutors for concealing his cryptocurrency holdings. He concealed cryptocurrency assets equivalent to 9.9 billion won (6.8M USD) and 990 million won (680K USD) in 2021 and 2022, violating the obligation of…

— Wu Blockchain (@WuBlockchain) December 18, 2024

Over $6M Crypto Assets

Kim claimed that he only owned $834,356 worth of assets in an official declaration to the National Assembly in 2021.

Investigations revealed that the lawmaker concealed on two occasions his cryptocurrency assets.

In 2021, Kim did not report that he owned $6.8 million worth of crypto assets. The lawmaker also failed to declare his digital assets worth $680,000 in 2022.

“He concealed cryptocurrency assets equivalent to 9.9 billion won (6.8M USD) and 990 million won (680K USD) in 2021 and 2022, violating the obligation of public officials to declare property holdings,” Wu Blockchain said in a post.

State prosecutors said that the legislator moved funds to a bank account so he could conceal the source of his profits, misreporting his true assets. They also found out that only the conversion of the remaining crypto to assets is being declared as his total worth.

Lack Of Crypto Tax Policy

Some analysts blame the South Korean government’s inability to implement a much-needed cryptocurrency taxation law.

The new tax law covering crypto assets was supposed to be implemented next year but the government decided to delay the tax policy until 2027.

Under the long-awaited crypto tax law, the government will impose a 20% tax on cryptocurrency gains.

Analysts said that ambiguity surrounding the regulations for cryptocurrencies might be increasing the political tension in the country.

Opposition lawmakers from the Democratic party perceive that the delay in the crypto tax implementation is being used by the government as a political tool.

Featured image from DALL-E, chart from TradingView

Craig Wright, the computer scientist who claims to be Satoshi Nakamoto, the elusive creator of Bitcoin, was sentenced  on Thursday to one year in prison by a UK judge for contempt of court.

This decision, issued by Justice James Edward Mellor, follows a thorough analysis of Wright’s conduct, which the court ruled included “significant and persistent falsehoods” about his status as Bitcoin’s founder.

The sentence, however, is suspended for two years, meaning that Wright will only serve time if he commits further offenses during this probationary period. 

Craig Wright’s Legal Woes Deepen

This ruling stems from a high-profile case where Craig Wright brought a staggering $1.15 trillion lawsuit against Bitcoin developers and the payments firm Square. The court found that he had violated a prior order that prohibited him from publicly claiming to be Satoshi Nakamoto and engaging in legal actions based on this assertion.

At the recent hearing, Wright reportedly expressed his intention to appeal the contempt finding, although he could not be reached for immediate comment. However, Wright’s legal troubles escalated when the Crypto Open Patent Alliance (COPA), a consortium of cryptocurrency firms, initiated proceedings against him. 

COPA sought a formal declaration that Craig Wright is not Satoshi Nakamoto, aiming to limit his ability to pursue multiple lawsuits against Bitcoin developers and others regarding intellectual property rights associated with Bitcoin.

During the six-week trial, Justice Mellor delivered a rare snap verdict, stating, “The evidence is overwhelming.” He concluded that Wright was not the individual who operated under the pseudonym Satoshi Nakamoto and accused him of deliberately fabricating documents to support his claims. 

The judge characterized Craig Wright’s actions as a “vehicle for fraud,” emphasizing that his extensive lies were aimed at bolstering his primary falsehood: his identity as Bitcoin’s creator.

In addition to the contempt ruling, Justice Mellor directed the Crown Prosecution Service (CPS) to consider pursuing criminal charges against Wright for what he described as “wholesale perjury.” However, as of now, no perjury charges have been filed against him.

Wright’s Claims Of Bitcoin Alteration Rejected

Craig Wright’s October lawsuit against Square and Bitcoin developers accused them of “misrepresenting” Bitcoin (BTC) as the original cryptocurrency. 

He claimed that they had altered the original Bitcoin protocol without authorization, asserting that these changes deviated fundamentally from the system defined by Satoshi Nakamoto in the Bitcoin White Paper. 

COPA on the other hand, argued that Craig Wright’s lawsuit violated the legal injunctions placed upon him, alleging contempt on five distinct grounds.

In his judgment, Justice Mellor ordered Wright to cease his legal actions against Square and the Bitcoin developers, stating, “There is no doubt whatever that each of these contempts has been proved.”

Craig Wright had been scheduled to attend a hearing to address the contempt claims but failed to appear, citing potential financial losses exceeding £240,000 ($303,000) as the reason for his absence. Reports suggest he is currently in Asia, possibly in Singapore or Indonesia, but he did not disclose his exact location when asked by the court. 

At the time of writing, Bitcoin is trading at $96,340, having lost the key $100,000 mark following the US Federal Reserve’s (Fed) decision to cut interest rates on Wednesday. Currently, BTC is down nearly 5% over the past 24 hours.

Featured image from the Financial Times, chart from TradingView.com

Germany’s Free Democratic Party (FDP) is intensifying its focus on Bitcoin and crypto policy during the run-up to the country’s parliamentary elections, scheduled for February. The party’s newly released election manifesto, published on December 18, signals a notable pivot towards integrating digital assets such as Bitcoin into the existing financial framework. Notably, the FDP mentions Bitcoin and crypto a total of five times throughout the document.

FDP Wants A Strategic Bitcoin Reserve

Central to the FDP’s platform is the idea of modernizing financial market oversight, while maintaining proportional and competitive regulatory standards. The election program stresses a commitment to “modern financial market regulation” that both protects private creditors and ensures a “level playing field” for all market participants. To achieve this, the FDP proposes expanding the responsibilities of the German Federal Financial Supervisory Authority (BaFin) so it can better “support FinTech and crypto innovations.”

The FDP also wants to ensure that Germany’s approach to crypto regulation aligns closely with broader European standards. It states that German rules should not exceed the “European minimum requirements,” implying that an overly stringent national framework could hinder competitiveness. The party suggests examining whether current regulations are “proportionate,” hinting that an overly restrictive environment may discourage innovation and push promising ventures elsewhere within the European Union.

Perhaps most notably, the FDP is “open” to the idea of both the European Central Bank (ECB) and the German Bundesbank incorporating Bitcoin into their currency reserves. While the program does not detail the mechanisms or timeline for such a move, it clearly presents the introduction of a Bitcoin reserve as a forward-looking strategy.

“We are open to the European Central Bank and the German Bundesbank using cryptocurrencies such as Bitcoin as currency reserves. This can strengthen the resilience of the European monetary system,” the election program states.

Further, the FDP’s platform strikes a balance between embracing digital innovation and preserving established monetary practices. It reaffirms support for the continued existence of cash, advocates for “broad acceptance of card payments,” and envisions a digital euro that respects user privacy and remains voluntary.

The party insists that any introduction of digital central bank money must preserve the privacy of users. “digital euro that complements cash must respect users’ privacy and be usable both online and offline. There must be no compulsion to use the digital euro and there must be no additional risks for the financial system,” the FDP demands.

This crypto-friendly pivot comes only a few days after FDP leader and former finance minister Christian Lindner Germany’s Bitcoin Dilemma: Ex-Finance Minister Urges Chancellor For Change that Germany must not lose touch with “innovations.” He compared Germany’s stance unfavorably to the next US administration under President-elect Donald Trump, which he said is poised to capitalize on “advantages that we could also have with Bitcoin.” While Lindner did not explicitly mention establishing a Bitcoin reserve at that time, his comments marked a caesura.

The FDP’s proposal has already drawn attention from key figures in the European tech community. Frank Thelen, a prominent European entrepreneur, technology investor, and TV personality, publicly supported the party’s approach via X: “First pro-crypto party in Germany @FDP. Imho a good addition to the existing currency reserves.”

At press time, BTC traded at $102,388.

On Wednesday, BlackRock, the world’s largest asset manager, successfully acquired municipal debt through a transaction that exclusively utilizes blockchain technology. According to a Bloomberg report, this marks the first instance of municipal bonds being purchased, settled, and held entirely on a blockchain platform.

BlackRock’s Historic Bond Deal

Per the report, the bonds were issued earlier this year by the city of Quincy, Massachusetts, and were underwritten by JPMorgan Chase & Co. 

The transaction was facilitated through an application on JPMorgan’s private, permissioned blockchain platform, known as Digital Debt Service. Interestingly, this approach not only streamlines the bond issuance process but also enhances transparency and security in municipal finance.

BlackRock’s acquisition was made through its actively-managed exchange-traded fund, the iShares Short Maturity Municipal Bond Active ETF (MEAR). Since its inception in 2015, MEAR has attracted approximately $750 million in client assets. 

As part of this historic deal, BlackRock has taken a total position of $6.5 million in the Quincy bonds, according to data compiled by Bloomberg. Pat Haskell, head of BlackRock’s municipal bond group, expressed optimism about the transaction, stating: 

The use of blockchain throughout the lifecycle of bonds is just one example of the potential for this technology to transform capital markets. This transaction marks a significant moment for the municipal bond market and is a testament to BlackRock’s dedication to innovation.

The prospectus for MEAR was recently updated to permit the fund to invest in municipal bonds settled through JPMorgan’s blockchain application, as indicated in a filing with the US Securities and Exchange Commission dated December 17. 

However, investors are cautioned about potential risks, including lack of liquidity and the possibility of errors or limitations inherent in the underlying computer code of the application.

In recent years, several issuers and underwriters have explored the feasibility of blockchain technology in the municipal bond market.

Notably, the board of trustees at Michigan State University considered a deal that would have utilized a proprietary digital assets platform developed by Goldman Sachs, highlighting a growing interest in integrating blockchain solutions within traditional finance.

iShares Bitcoin Trust Surges Towards $60 Billion

In the realm of cryptocurrency exchange-traded funds (ETFs), BlackRock has garnered significant attention, particularly due to ongoing inflows throughout the year. Notably, its iShares Bitcoin Trust (IBIT) has outperformed its gold ETF in terms of assets under management (AUM).

According to Ki Young Ju, CEO of the market intelligence firm CryptoQuant, it took BlackRock’s gold ETF 20 years to reach $33 billion in AUM. In contrast, the Bitcoin ETF has nearly doubled that figure in less than a year, approaching the $60 billion milestone.

This development occurs amid notable volatility in Bitcoin’s price over the past 48 hours, as traders anticipated the US Federal Reserve’s decision on interest rate cuts. During this period, despite Bitcoin briefly falling below the $100,000 mark, BlackRock seized the opportunity to purchase $1 billion worth of Bitcoin.

At the time of writing, despite losing the key $100,000 milestone, Bitcoin has managed to recover this level and is currently trading at $101,240. However, the market’s leading crypto still posted losses of 2.3% in the 24-hour time frame.

Featured image from DALL-E, chart from TradingView.com 

As December 2024 unfolds, the cryptocurrency market continues to offer remarkable opportunities for investors aiming to maximise their returns. While Bitcoin remains a dominant force, altcoins have emerged as compelling investment options, promising innovative solutions and strong growth potential. For those seeking the best altcoins to invest in December 2024, Qubetics, Toncoin, Chainlink, VeChain, and Hedera stand out as top contenders.

Each of these projects brings unique value propositions and advancements to the table. From Web3 aggregators to decentralised oracles, their innovative approaches make them indispensable in the evolving blockchain landscape. Let us explore why these altcoins deserve attention this December.

1. Qubetics ($TICS): Pioneering Web3 Innovation

Qubetics has solidified its reputation as the world’s first Web3 aggregator, addressing real-world challenges with transformative solutions. Its decentralised VPN (dVPN) ensures secure internet access while promoting affordability and privacy. Businesses and individuals alike benefit from its practical applications. For instance, a consulting firm can use Qubetics to ensure confidential communication with international clients, while a remote worker relies on its dVPN to protect sensitive data.

The numbers behind Qubetics highlight its potential. Over 359 million $TICS tokens have been sold during its presale, raising $7.2 million. Currently priced at $0.0342, the token offers substantial growth potential. A $50,000 investment today could yield $1,410,390.91 at a $1 valuation or $21,755,867.61 if the price reaches $15 post-mainnet launch.

Why did this coin make it to this list? Qubetics stands out for its robust use cases, strong presale performance, and unparalleled potential for investors seeking the best altcoins to invest in December 2024. 

2. Toncoin: Simplifying Blockchain for Everyday Users

Toncoin, born from the Telegram Open Network project, has carved a niche as a user-friendly blockchain platform. Its seamless integration with Telegram allows users to send and receive cryptocurrency effortlessly, promoting mass adoption. Businesses can leverage Toncoin for efficient payment processing, while individuals enjoy its accessibility for peer-to-peer transactions.

With its expanding ecosystem and ongoing partnerships, Toncoin has attracted attention from both retail and institutional investors. The project’s commitment to scalability and security ensures its long-term viability in the competitive crypto market.

Why did this coin make it to this list? Toncoin’s ease of use and integration with a widely popular platform make it a standout option for investors this December.

3. Chainlink: Bridging Real-World Data and Blockchain

Chainlink continues to lead the decentralised oracle market, enabling smart contracts to interact with real-world data. Its technology is critical for powering decentralised finance (DeFi) applications, supply chain tracking, and more. A logistics company, for example, can use Chainlink’s oracles to verify the authenticity of shipment data, ensuring transparency and efficiency.

The project’s consistent innovation and integration with major blockchain platforms have cemented its position as a market leader. With the increasing demand for reliable data feeds in blockchain applications, Chainlink’s potential remains strong.

Why did this coin make it to this list? Chainlink’s critical role in connecting blockchain with external data makes it one of the best altcoins to invest in December 2024.

4. VeChain: Revolutionising Supply Chain Management

VeChain has emerged as a game-changer in supply chain management, leveraging blockchain technology to enhance transparency, efficiency, and traceability. Its dual-token system supports enterprise-level adoption, offering tailored solutions for industries such as retail, automotive, and healthcare. For example, a food producer can use VeChain to trace the journey of products from farm to table, ensuring quality and compliance.

VeChain’s partnerships with global corporations demonstrate its utility and potential for widespread adoption. Its focus on solving real-world problems ensures its relevance in an increasingly digitalised economy.

Why did this coin make it to this list? VeChain’s ability to provide practical solutions for industries worldwide makes it a top contender for December investments.

5. Hedera: The Enterprise-Grade Blockchain

Hedera offers an enterprise-grade blockchain platform known for its speed, security, and energy efficiency. Its unique Hashgraph consensus mechanism sets it apart, enabling high-throughput and low-latency transactions. Enterprises across sectors, from finance to healthcare, can utilise Hedera to enhance operations and reduce costs.

Hedera’s growing ecosystem of applications and partnerships underscores its potential. With its focus on sustainability and innovation, it appeals to investors seeking long-term growth in the blockchain space.

Why did this coin make it to this list? Hedera’s enterprise focus and technical superiority make it one of the best altcoins to invest in December 2024.

Conclusion: Invest in Tomorrow’s Leaders Today

Qubetics, Toncoin, Chainlink, VeChain, and Hedera each offer unique opportunities for investors. Whether it is Qubetics’ transformative Web3 solutions, Toncoin’s accessibility, Chainlink’s oracle technology, VeChain’s industry applications, or Hedera’s enterprise-grade blockchain, these altcoins are shaping the future of cryptocurrency.

Investing in the best altcoins to invest in December 2024 ensures you are positioned to benefit from their growth trajectories. The time to act is now. These projects represent the cutting edge of blockchain innovation—seize the opportunity before it passes.

For More Information:

Qubetics: https://qubetics.com/

Telegram: https://t.me/qubetics

Twitter: https://twitter.com/qubetics

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

Pepecoin, the OG green frog meme coin, had a rough week.

$PEPE is down nearly 21% over the past seven days as the euphoria of Bitcoin’s surge above $100K wears off slightly.

Meme coins, more even than most stable cryptos, react to the mood of the broader market. $PEPE is no exception. As $BTC takes a breather, some investors take profits, and $BTC’s price settles in just above $100k, $PEPE is feeling the pinch.

So much, in fact, that Pepe has decided to spice things up with an OnlyFans account.

Will it work? Only time will tell. But in the meantime, there’s never been a better time to look at $PEPE alternatives – and Wall Street Pepe is stepping in to take up the challenge.

Here’s what we know about the current state of affairs in the meme coin market, and why $WEPE could supplant $PEPE as the green frog of choice.

$PEPE Steps Back

Over the past seven days, $PEPE has seen a slight decline. The market cap remains north of $8B but has fallen 22% over the past week.

In short, $PEPE’s hot pace from November into early December has finally cooled. 

That’s in keeping with broader crypto trends. In light of a rough stretch for the US stock markets and news of another Fed rate cut, crypto markets are testing resistance levels and relaxing a bit from the surge of the past few weeks.

It’s worth noting that even $PEPE’s step back is still a step forward overall.

As one of the biggest meme coins by market cap, $PEPE suffers from normal crypto volatility yet still boasts the liquidity necessary to ride out the waves.

$WEPE Hops Up

With $PEPE hitting a lull, a new challenger is hopping into the spotlight. 

Wall Street Pepe, currently in presale, has raised a whopping $31M so far. And with weeks to go, $WEPE looks to become the next big green frog meme coin.

$WEPE offers a trading-focused community where insights and degen plays can be shared. The token is an attempt to bring together the impulsive momentum of meme coins with the analysis and insights of the stock market.

In short, this green frog has $PEPE’s memes and Wall Street genes.

$WEPE’s presale proceeds in stages, with each stage offering tokens at a slightly higher price than the one before. At the time of writing, $WEPE tokens are available for $0.0003649. But it won’t stay at that level for long, and, once the coin is trading on public exchanges, a lot more investors will be coming in, which is known to drive the price up considerably.

WEPE, PEPE Set To Surge Into 2025

The broader crypto market continues to benefit from the favorable US political climate. News of a Bitcoin reserve may have taken a blow, but the Trump administration still looks set to create a regulatory environment that’s far friendlier than the previous government. And that means things are still only looking up for the frogs.

None of this is financial advice, of course. Do your own research, and make your own evaluations on projects based on what you can find out about roadmaps, development teams, token allocations, and more.

But keep your eyes on the green frog dressed like a hedge fund manager. 

It’s been under a week since the launch of the $SOLX presale, but Solaxy’s native token is taking no prisoners. After raising $350K in its first 24 hours, just five days later, that tally has skyrocketed to $2.85M.

Crypto investors are clearly excited by Solaxy’s plan to build a Layer 2 protocol that will build on Solana, incorporating all its good bits and massively improving on where it’s been falling short. 

Solana’s super-high transaction volumes (178.75M over the past seven days, according to DappRadar) are driven mostly by meme coins, and have resulted in some congestion issues and failed transactions. 

That’s why this is great news for crypto investors – particularly those trading meme coins. Solana is, after all, the platform where the majority of meme coins are launched and traded. But it’s not just Solana that’s set to score.

As a multi-chain solution, Solaxy will bridge that critical divide between the big boys of blockchain – Ethereum and Solana. And that means making the most of the high liquidity and security that Ethereum’s DeFi ecosystem brings to the table.

Ethereum and DeFi go hand-in-hand, with a total value locked of $131.42B. That said, Solana is also a key player in the DeFi arena – second to Ethereum, with $14.33B in total locked value. And that’s one of the major reasons behind investors clambering to buy $SOLX – DeFi domination is imminent.

If you want to secure your spot in the first Solana Layer 2 presale, visit the official Solaxy website now.

Solaxy’s Meteoric Presale Is On Fire

The $SOLX presale launched at a cool $0.001. But that was a week ago, and the price has now risen to $0.00157. And, with a total token supply of 138,046B, staking rewards are currently estimated at an impressive 1,239% per annum.

The next price stage begins tomorrow in less than 10 hours, when the $SOLX kitty is expected to hit the $3.132M mark. 

As for the $SOLX tokenomics, 30% has been allocated to the development of that all-important Layer 2 ecosystem, and 25% for early bird rewards. The remaining amount is split between the project’s treasury (20%), marketing (15%), and listing the $SOLX on DEXs and CEXs (10%).

How to Buy $SOLX

$SOLX can be bought with $ETH, $USDT, and by credit or debit card. $BNB is another payment option. But be warned, you’ll lose out on the annual staking rewards if you choose to purchase presale $SOLX with $BNB.

As for the card payment option, you will need to link your credit card to a crypto wallet before making a transaction. The Solaxy website recommends that potential investors who don’t yet have a crypto wallet download the Best Wallet app. 

Best Wallet is a good choice – it’s free, secure, and offers lower transaction fees. And, importantly, it’s a non-custodial wallet in the form of a mobile-only app. Unlike many other crypto wallets that belong to centralized exchanges or companies, Best Wallet gives users full and sole control over their wallet.