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Operation Choke Point 2.0 is an alleged initiative by the Biden administration aimed at restricting crypto firms' access to banking services, drawing parallels to a previous program under Obama. Critics argue that regulatory actions from agencies like the SEC and FDIC have pressured banks to sever ties with the crypto industry, despite official denials of the program's existence. Trump has pledged to dismantle this initiative if re-elected, echoing his previous efforts to end the original Operation Choke Point.
MicroStrategy has appointed former Binance.US CEO Brian Brooks, along with Jane Dietze and Gregg Winiarski, to its board of directors, expanding the board to nine members. This announcement follows MicroStrategy's inclusion in the Nasdaq-100 Index, effective December 23. Brooks, who previously served as acting Comptroller of the Currency, is noted for his significant connections in the banking and crypto sectors.
Tai Mo Shan, a subsidiary of Jump Crypto, has settled with the SEC for $123 million over misleading investors regarding the stability of the TerraUSD (UST) algorithmic stablecoin prior to its collapse. The SEC highlighted that the misleading actions contributed to significant losses for investors and emphasized the need for compliance with securities laws.The collapse of UST in May 2022, triggered by a large sell-off, led to a loss of its dollar peg and a cascade of liquidations, ultimately resulting in a formal investigation of Terraform Labs and its founder, Do Kwon, which culminated in a $4.4 billion settlement.
Wall Street Pepe (WEPE) is rapidly gaining traction, raising over $33.5 million in just 18 days, positioning itself as a leading meme coin ICO. With a strong community of 25,000 followers on X (Twitter) and 11,000 on Telegram, the token is currently priced at $0.0003652, set to increase soon due to its dynamic pricing model. As the crypto market recovers, meme coins like Pepe are experiencing significant interest, with analysts predicting a bullish trend ahead.
Bitwise has launched the Solana Staking ETP in Germany, offering an annual percentage return of 6.48%, surpassing competitors like 21Shares. While U.S. regulatory challenges persist, optimism for future spot ETF approvals is growing, with expectations of a favorable outcome by the end of 2025. European investors are currently benefiting from innovative Solana-based products as the market evolves.
SEC Commissioner Hester Pierce expressed optimism about potential regulatory changes under new Chair Paul Atkins, particularly regarding Ethereum ETF staking and in-kind redemptions. She noted that while uncertainties remain, the new leadership could facilitate a more favorable environment for these reforms, which were unlikely under the previous administration. Pierce emphasized the importance of immediate action on crypto regulations from day one of Atkins' tenure.
XRP experienced a significant drop of 10.07% following the Federal Reserve's hawkish outlook, which raised the 2025 Fed Funds Rate from 3.4% to 3.9%. The SEC's political shake-up, with the exit of anti-crypto Commissioner Crenshaw, could lead to a withdrawal of the agency's appeal in the Ripple case, potentially boosting XRP's demand. Meanwhile, DTX Exchange is gaining traction with its presale, having raised $10.41 million, and offers advanced trading tools that enhance user experience and liquidity.
Cathie Wood, founder of ARK Investment Management, predicts a surge in startup mergers and acquisitions if Donald Trump wins another presidential term, citing potential regulatory changes. She maintains that Bitcoin could exceed $1 million by 2030 due to its fixed supply, contrasting it with gold's expandable production. Wood also highlights the positive impact of Trump's pro-crypto policies, including the nomination of Paul Atkins as SEC Chair, which could foster growth in both the tech startup and cryptocurrency markets.
Hailey Welch, the influencer behind the viral 'Hawk Tuah' TikTok video, is cooperating with lawyers after allegations of a rug pull involving the HAWK memecoin, which saw a rapid rise to $500 million before plummeting 90%. Although not named in a lawsuit against the project's creators, Welch urged affected investors to seek legal counsel, emphasizing her serious approach to the situation. The SEC's stance on tokens as securities may impact potential legal outcomes as regulatory changes loom.
Ark Invest CEO Cathie Wood predicts Bitcoin will exceed $1 million by the decade's end, driven by its finite supply and increasing institutional interest. She highlights Bitcoin's resistance to inflation compared to gold and anticipates a surge in mergers and acquisitions under the incoming Trump administration, facilitated by regulatory changes. Wood also welcomes the nomination of Paul Atkins as SEC chair, expecting a more favorable environment for crypto innovation and investment.
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