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- 💡 Crypto Markets Tank Following FOMC
💡 Crypto Markets Tank Following FOMC
PLUS: Another huge airdrop may be on the way...

Happy Friday All!
Here are this week’s top crypto stories … 💡👇

Source: CoinMarketCap Heatmap, 12/20/2024, 3:45pm EST
Crypto Markets Tank after Fed's Cautious Outlook and Rate Cut Remarks 🩸
Crypto markets continued their decline on Friday, following Federal Reserve Chairman Jerome Powell's remarks on Wednesday about a more cautious approach to interest rate cuts in 2025
Bitcoin (BTC) fell 7% to around $95,000, Ethereum (ETH) dropped 10% to $3,293. The overall crypto market cap fell 9.3% to $3.4 trillion.
In the past 24 hours, 434,185 traders were liquidated totaling $1.42 billion in losses.
BTC and ETH spot ETFs saw significant outflows, with BTC spot ETFs losing $650 million and ETH spot ETFs $60.47 million.

Source: DL News
SEC Approves First Spot Bitcoin and Ethereum combo ETFs from Hashdex / Franklin Templeton 💸
The SEC has approved the first spot Bitcoin and Ethereum combo ETFs from Hashdex and Franklin Templeton, set to launch in January.
These ETFs will initially hold Bitcoin and Ether on a market cap-weighted basis, approximately 80/20 in Bitcoin's favor.
The Hashdex Nasdaq Crypto Index US ETF will trade under the ticker NCIQ, while the Franklin Crypto Index ETF will trade under the ticker EZPZ.

Source: Blockworks
Team behind HAWK memecoin, tied to ‘Hawk Tuah Girl,’ sued for alleged securities law violations 🔨
Lawsuit Filed: Investors have sued the team behind the HAWK memecoin, associated with Haliey Welch ("Hawk Tuah Girl"), for alleged securities law violations.
Financial Losses: Twelve plaintiffs, who collectively lost over $151,000, claim HAWK acted as an unregistered security, leading to substantial damages.
Token Launch and Decline: HAWK was launched on Dec. 4 on Solana via the OverHere platform, initially reaching a $400 million market cap before plummeting 90%.

Source: The Block
OpenSea Airdrop Rumors Fly After the NFT Marketplace’s Foundation Debuted on X 🌊
OpenSea, the largest NFT marketplace, has ignited speculation about a potential token airdrop following a cryptic exchange on social media platform X with the newly announced OpenSea Foundation.
On Dec. 20, the Foundation’s X account tweeted "Ocean enters the chat," which was retweeted by OpenSea with the caption "Waves hello," sparking community theories about an upcoming token airdrop.
An OpenSea airdrop is highly anticipated, given the platform's popularity, with over 700,000 monthly users at its peak, potentially making it one of the largest airdrops if all users receive tokens.

Source: Decrypt
How Aggregation and Decentralized AI Will Completely Reshape Blockchains in 2025 🤖
2025, A Game-Changer for Blockchain: The blockchain industry is set for a major transformation in 2025, driven by breakthroughs in aggregation layers and decentralized AI, enabling seamless scalability and connectivity akin to the current internet.
Decentralized AI: AI development will shift from centralized control by big tech to community-driven, open-source frameworks, ensuring fair compensation and collaboration, aligning with Web3 values of shared ownership and transparency.
Aggregation Layers: These will act like the TCP/IP of decentralized infrastructure, linking thousands of blockchains while maintaining their independence and unifying liquidity, making cross-chain transactions nearly instant and user-friendly.

Source: Daily Coin
Thank you for reading this edition of Digital Asset Insights!
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