Bitwise isn’t alone in its bullishness on stablecoins with Circle CEO Jeremy Allaire predicting the explosive growth of the sector due to a “huge appetite” for digital dollars. Bitcoin is poised to record a new all-time high of $80,000 in 2024, the same year stablecoins are set to collectively settle more money than payments giant Visa, says a Bitwise senior research analyst. In a Dec. 13 post to X (formerly Twitter), Bitwise’s Ryan Rasmussen outlined ten bullish predictions for the crypto industry in 2024, with one of the major themes being the explosive growth of the stablecoin industry. Ac ..read more

A Yearn contributor said the value lost came from “strictly protocol owned liquidity” in the protocol’s treasury and that customer funds weren’t impacted. Decentralized finance protocol Yearn.finance is hoping arbitrage traders will return $1.4 million in funds after a multisignature scripting error, resulting in a large amount of the protocol’s treasury being drained. “A faulty multisig script caused Yearn’s entire treasury balance of 3,794,894 lp-yCRVv2 tokens to be swapped,” according to a Dec. 11 GitHub post by Yearn contributor “dudesahn.” The error occurred while Yearn was converting it ..read more

Bitcoin proves its value as an inflation hedge and store of value by hitting repeat all-time highs in multiple currencies. Since bottoming around $16,800, Bitcoin (BTC) has displayed resilience throughout 2023, posting over 153% gains year-to-date and $143% over the last 12 months to outperform major tech companies. Despite this impressive performance, the flagship cryptocurrency’s price is still 39% below the all-time high (ATH) level reached in November 2021. Meanwhile, Bitcoin continues to hit new ATHs in Argentina, Turkey, Egypt, Nigeria, Lebanon and Pakistan. Read more ..read more

Vitalik Buterin, the legendary co-founder of Ethereum, recently shared his insights on the potential implementation of an “enshrined ZK-EVM” within the Ethereum network. His detailed exploration offers several key takeaways that could significantly impact the future of Ethereum and its Layer-2 protocols. Unpacking the enshrined ZK-EVM concept Buterin’s vision for an enshrined ZK-EVM centers around integrating Zero-Knowledge proofs directly into the Ethereum Virtual Machine (EVM). This proposal aims to address the current dependency of Layer-2 protocols like optimistic and ZK rollups on an ext ..read more

Wednesday, the U.S. Commodity Futures Trading Commission (CFTC) approved a proposal by a Chicago-based brokerage and exchange for cryptocurrency derivatives to operate as its own registered clearinghouse. CFTC gives green light for Bitcoin futures Trading Bitnomial, a US-regulated digital asset derivatives exchange, was given a US clearinghouse license today to clear margined digital asset futures and options contracts, making it the first and only crypto-native exchange to hold all three US derivatives exchange, clearinghouse, and broker licenses.  Furthermore, Bitnomial is the only US ..read more

Memecoins are a gamble — and they’re almost always scams. What motivates crypto buyers to continue losing their money for bad reasons? In 2013, the launch of a dog-themed crypto token as a private joke between a couple of software developers was a harmless piece of fun. The fact that Dogecoin (DOGE) has since amassed a market capitalization greater than $13 billion (as of Dec. 13) is beyond the understanding of most investors, but it seems like it’s here to stay. However, the sector that DOGE has inspired is becoming a menace to an industry that needs to evolve. Memecoins are dangerous ..read more

Bitcoin and altcoins are trying to find support at lower levels, indicating that the sentiment remains positive, and that traders are buying the dips. Bitcoin (BTC) has failed to rebound sharply following the fall on Dec. 11, suggesting selling pressure on relief rallies. Glassnode data shows that short-term holders (STHs), entities holding Bitcoin for 155 days or less, sent $1.93 billion worth of Bitcoin to exchanges on Dec. 11 and $2.08 billion on Dec. 12. The last time single-day selling crossed the $2 billion mark was way back in June 2022. This shows that speculators are in a hurry to du ..read more

The Financial Accounting Standards Board (FASB) has released new regulations that are set to redefine how companies holding digital assets like Bitcoin and Ethereum account for them. Under these new rules, companies will now have to measure their cryptocurrency holdings at their fair market value. This change, which is a significant departure from the current accounting practices, will come into effect for fiscal years starting after December 15, 2024. However, companies can choose to adopt these rules earlier if they wish. Previously, firms like MicroStrategy, Tesla, and Block could only re ..read more

In the world of digital currencies, Ukraine emerges as a significant player, demonstrating a unique interplay between technological innovation and geopolitical dynamics. The current landscape of crypto industry in Ukraine is marked by a robust engagement with digital assets, manifesting not only as a burgeoning sector within the economy but also as a pivotal element in the country’s geopolitical strategies. This complex and multifaceted scenario is shaped by a range of factors, from legislative frameworks to public adoption, each contributing to a distinctive crypto ecosystem. The significanc ..read more

Bitcoin and altcoins are trying to find support at lower levels, indicating that the sentiment remains positive, and that traders are buying the dips. Bitcoin (BTC) has failed to rebound sharply following the fall on Dec. 11, suggesting selling pressure on relief rallies. Glassnode data shows that short-term holders (STHs), entities holding Bitcoin for 155 days or less, sent $1.93 billion worth of Bitcoin to exchanges on Dec. 11 and $2.08 billion on Dec. 12. The last time single-day selling crossed the $2 billion mark was way back in June 2022. This shows that speculators are in a hurry to du ..read more