💡 Crypto Markets Tank Following FOMC

PLUS: Another huge airdrop may be on the way...

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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.

  • View Full Article

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.

  • View Full Article

Source: Blockworks

Team behind HAWK memecoin, tied to ‘Hawk Tuah Girl,’ sued for alleged securities law violations ðŸ”¨

  • 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%.

  • View Full Article

Source: The Block

OpenSea Airdrop Rumors Fly After the NFT Marketplace’s Foundation Debuted on X ðŸŒŠ

  • 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.

  • View Full Article

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.

  • View Full Article

Source: Daily Coin

Thank you for reading this edition of Digital Asset Insights!

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