❕ Ripple’s RLUSD Stablecoin Attracts Frenzy Bids for 800 XRP Ahead of Release

Ripple's upcoming RLUSD stablecoin is generating significant interest, with bids reaching up to 836 XRP (approximately $2,068) on on-chain marketplaces ahead of its launch on the XRP Ledger. Despite being pegged to $1, speculators are eager to secure early access, leading to inflated bidding prices. Ripple's CTO, David Schwartz, noted that some bidders might be willing to pay high prices for the novelty of holding the first RLUSD tokens.

The stablecoin will officially go live on Tuesday, with listings on several exchanges, including Uphold and MoonPay. While initial trading may see price fluctuations due to limited liquidity, each RLUSD token will ultimately be redeemable

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US Senator Cynthia Lummis says "2025 will be the year for Bitcoin & digital assets."

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Ohio Representative files bill to create strategic Bitcoin Reserve for the state.

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🚨 Next U.S. Senate Banking Chair Calls Crypto 'Next Wonder' of World

Senator Tim Scott, the incoming chair of the U.S. Senate Banking Committee, expressed strong support for cryptocurrency, calling it the "next wonder of the world" during a recent event. He announced plans to prioritize crypto legislation, emphasizing the need for regulatory frameworks to foster innovation in the sector. Representative French Hill, the next chair of the House Financial Services Committee, anticipates that significant crypto legislation could be passed in 2025, but it will require bipartisan support to succeed in the Senate.

Scott intends to create a digital assets subcommittee, marking a shift from the more skeptical approach of his predecessor. Both lawmakers highlighted the Financial Innovation and Technology for the 21st Century Act (FIT21) as a key legislative starting point, and they acknowledged the importance of working with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on regulatory matters. The overall sentiment in Congress is shifting positively towards crypto, with expectations for more comprehensive legislation in the near future.

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🔹 Bitcoin Takes a Breather After Doji Candle in a Cautious Pre-Fed De-Risking

Bitcoin (BTC) is experiencing a pullback after a period of indecision marked by a Doji candle pattern. Following a record high of over $108,000, BTC traded around $103,750, reflecting a 2% decline. This selling pressure is attributed to traders de-risking ahead of the Federal Reserve's anticipated rate cut announcement.

Analysts expect the Fed to signal three rate cuts for 2025, down from an earlier projection of four. The cautious sentiment in the crypto market is fueled by these hawkish expectations, despite the overall trend of easing still being favorable for risk assets. Other cryptocurrencies, such as XRP, SOL, and ETH, are also seeing similar declines, indicating a broader market correction.

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Within 40 Days.

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💎 Bitcoin's Nosedive to Under $100K Shaves $700M Crypto Longs, XRP Drops 5%

Bitcoin experienced a significant drop, falling below $100,000, which triggered over $700 million in liquidations across crypto futures, particularly affecting long positions. This downturn was influenced by comments from Federal Reserve Chair Jerome Powell regarding interest rate cuts and the implications of President-elect Donald Trump's potential Bitcoin policies.

Other cryptocurrencies like XRP and Dogecoin also saw declines of around 5.5%. The market reaction suggests a possible peak, as traders reassess expectations of a continued rally, while some analysts remain optimistic about the long-term outlook for crypto in 2025.

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🚨 Hawkish Fed Has Bitcoin Market Feeling Most Fearful in 3 Months

The Bitcoin market is experiencing its strongest bias for downside protection in three months, driven by hawkish remarks from the Federal Reserve. Following a recent interest rate cut, Chairman Jerome Powell expressed caution about future easing, which has dented bullish sentiment among traders. Data shows that put options are trading at their highest implied volatility premium relative to call options since September, indicating heightened demand for downside protection.

As Bitcoin prices dropped from around $105,000 to under $99,000, traders have been scrambling to hedge their positions. The Fed's projections now suggest only two rate cuts for 2025, down from earlier expectations, contributing to a negative sentiment in the market. Currently, Bitcoin is trading around $101,200, trying to recover from earlier losses.

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🚨 Dogecoin's 11% Drop Leads Losses in Crypto Majors as Bitcoin Sours Festive Mood

Dogecoin (DOGE) experienced an 11% drop, leading losses among major cryptocurrencies as Bitcoin (BTC) also declined by 4.2%. This marks the third consecutive day of losses in the crypto market, attributed to overly bullish sentiment and profit-taking following the recent FOMC meeting.

Analysts from QCP Capital noted that the market's previous optimism left it vulnerable to sell-offs, particularly after the Federal Reserve signaled fewer rate cuts than expected for 2025. Other cryptocurrencies like Ethereum (ETH) and Solana (SOL) saw declines of up to 9%. The CoinDesk 20 index, which tracks major tokens, fell 5.5%, with significant liquidations in the futures market.

Historically, December is seen as a bullish month for Bitcoin, but the recent downturn has raised concerns about market stability.

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Michael Saylor says that Bitcoin could go to $1 and MicroStrategy would not get liquidated, they would just keep buying

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🚨 Tether Takes $775M Stake in Video-Sharing Platform Rumble; RUM Shares Soar 41%

Rumble, a competitor to YouTube, has secured a $775 million strategic investment from Tether, the issuer of the USDT stablecoin. Of this amount, Rumble plans to allocate $250 million towards operations and use the remainder for a tender offer to buy back up to 70 million shares at $7.50 each.

Rumble's CEO, Chris Pavlovski, expressed confidence that Tether's involvement will significantly boost Rumble's growth. Tether's CEO, Paolo Ardoino, highlighted the opportunity for Rumble to provide an uncensored alternative to traditional media, stating that Tether intends to explore advertising, cloud services, and cryptocurrency payment solutions in collaboration with Rumble. Following the announcement, Rumble's stock surged 41% in after-hours trading.

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❕ Hailey Welch 'Fully Cooperating' With Lawyers Suing Over Failed HAWK Crypto

Hailey Welch, known for her viral presence as the "Hawk Tuah girl," is cooperating with lawyers representing investors who lost money in the failed HAWK cryptocurrency. Following the token's collapse shortly after its launch in early December, allegations arose that insiders profited at the expense of buyers.

Welch stated her commitment to uncovering the truth and encouraged affected investors to reach out to the law firm pursuing a lawsuit against the creators of HAWK, which is accused of violating securities laws. This controversy has impacted Welch's rising career as a content creator, as she previously lent her likeness to the HAWK project for a fixed fee, without guarantees of future earnings.

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🚨 Michael Saylor Reveals Strategic Bitcoin-Based Digital Asset Policy for US

Michael Saylor, co-founder of MicroStrategy, has proposed a strategic digital asset policy aimed at strengthening the U.S. dollar and enhancing the economy through Bitcoin and other digital assets. His framework, outlined in a document titled "Digital Assets Framework, Principles, and Opportunity for the United States," categorizes digital assets into groups such as digital commodities (like Bitcoin), digital securities, and digital tokens with utility.

Saylor emphasizes the need for a robust regulatory framework to ensure accountability among market participants and to promote confidence in digital asset markets. He believes this policy could help neutralize national debt and position the U.S. as a leader in the digital economy, potentially generating significant economic growth. Recently, MicroStrategy was added to the Nasdaq 100, reflecting its success in accumulating Bitcoin as a key part of its strategy.

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President-elect Trump nominates pro-Bitcoin Stephen Miran to lead his Council of Economic Advisers.

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🚨 More Pain Likely, Market Expert Says After Bitcoin's Biggest Loss Since August

Bitcoin experienced its largest drop since August, falling 8.8% to nearly $95,000 last week. Market expert Andre Dragosch from Bitwise warns that further losses may be on the horizon, attributing the downturn to the Federal Reserve's cautious stance on rate cuts amid tightening financial conditions and rising inflation.

Despite this, Dragosch sees potential buying opportunities due to Bitcoin's ongoing supply deficit. He notes that the Fed's reluctance to aggressively cut rates could lead to a prolonged risk-off sentiment in the market, further impacting cryptocurrencies. The current economic climate mirrors inflationary pressures seen in the 1970s, raising concerns about a potential resurgence of significant inflation.

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