Hey there, welcome back! Here is a recap of all that happened in the last 24 hours in the crypto community. With The Blockchain Bulletin, get to know the latest updates on institutional firms, tokens, market volatility, and even regulatory facts.
U.S. Economic Report to Shape Crypto Markets
The upcoming economic events in the U.S. are set to impact the $3.37 trillion cryptocurrency market. Market observers stated that the Federal Reserve, unemployment data, and inflation rates will influence the Bitcoin price in the market. If engaged, it would affect the investor interest and can potentially shift the market situation.
Swift Crypto Regulations Under Trump?
The chief legal officer of Coinbase, Faryar Shirzad, stated that Trump’s re-entry as President would bring a dynamic change to the crypto world. Describing Trump as an “extraordinarily pro-crypto” leader, he stated that Trump should prioritize crypto laws at the earliest, after assuming office. Shirzad also sheds light on two prominent bills. He stated that if the bills become law, significant progress can be witnessed in 2025. While one bill plans to establish a transparent legal framework for digital assets, another bill focuses on licensing stablecoin issuers. These bills could significantly reshape the crypto market by reducing compliance burdens and fostering innovation.
Ex-Binance CEO Refuses to Return
Former CEO of Binance, Changpeng Zhao, refused to return to his CEO position. Responding to an X post, Zhao stated his disapproval of the idea but was ready to accept the pardon from Trump. After facing prison time, Zhao appeared at the Binance Blockchain Week in Dubai and reveals his next step. At present, Zhao is focused on building the Giggle Academy, a free education project to cater to kids of all grades.
Michael Saylor Pitches Bitcoin to Microsoft
MicroStrategy founder Michael Saylor pitched Bitcoin to Microsoft, claiming that it would enhance the latter’s position in Web3 development and infrastructure. In a 3-minute presentation, Saylor described Bitcoin as a digital capital. Further, he asserted that Bitcoin is a superior form of capital preservation than bonds or stocks. Saylor’s enthusiasm for Bitcoin shows its potential as a strategic reserve asset as it gains global attention.
Optimism Network Review: A Layer-2 Protocol on EthereumAltcoins Show Divergence as Bitcoin Dominates
On the market front, Bitcoin holds the reins, while altcoins show different patterns. Maintaining its dominance above $95K, Bitcoin continues to hold investor interest amid altcoin volatility. Over the past 24 hours, XRP surged above $2, while Dogecoin and Solana faced slight dips. With the Fear and Greed Index at 80, the market sentiment is inclined to Greed. Following the shift, Cardano (ADA) is stated to face a 20% correction risk. Analysts state that if ADA goes below the $1.03 level, it would be a bear fall for investors.
Exchange Vulnerabilities Raise Concerns
Despite strict regulatory guidelines and layers of security, phishing attacks are witnessed in the crypto world. This raises concern among traders about the vulnerability of crypto exchanges. Due to such attacks, the exchanges face heavy losses and announce liquidation. One such case is the DMM Bitcoin. Following an attack in May, the Japanese firm announced liquidation and closing of operations. The firm would soon transfer customer deposits to SBI VC Trade by March next year.
