Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest (ARCA: ETH)

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Las salidas de Ethereum (CRYPTO: ETH) de Grayscale han experimentado una caída del 80%, lo que podría indicar la llegada de un rally.

Grayscale reduce salidas de Ethereum y podría impulsar un rally

Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest

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Grayscale Ethereum Trust (ETH) Common units of fractional undivided beneficial interest

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Despite his well-known disdain for cryptocurrencies, the &#8216;Oracle Of Omaha&#8217; &#8211; Warren Buffett&#8216;s Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has invested in a company that supports the cryptocurrency market and has soared by 27.43% in 2024.
What Happened: Buffett&#8217;s Berkshire had <a href="https://www.benzinga.com/personal-finance/24/05/39093145/berkshire-hathaway-profits-f[%E2%80%A6]to-despite-warren-buffets-stance-on-not-buying-even-if-all-w">initially</a> invested $500 million in a Series G funding round and subsequently another $250 million in Nu Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>). 
Nu, a Brazilian digital banking company launched its cryptocurrency platform, Nubank Cripto, in 2022. Berkshire has since added 0.3% of this company&#8217;s shares in 18 months as of the quarter ended Sept. 30, 2024. 
Berkshire increased its holdings from 0.1% in the fourth quarter that ended Dec. 31, 2022, to 0.4% in the third quarter of fiscal 2025.
Initially supporting Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>), the platform, Nubank Cripto, now includes Uniswap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/uni/usd">UNI</a>) and Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>). It allows users to send, receive, and convert cryptocurrencies, including stablecoins like USD Coin.
In 2018, during Berkshire Hathaway Inc.&#8217;s annual <a href="https://www.benzinga.com/general/24/03/37513063/warren-buffett-says-he-wouldnt-pay-25-for-all-the-bitcoin-in-the-world-he-considers-crypto-rat-poiso">shareholder</a> meeting, Buffett famously described Bitcoin as &#8220;probably rat poison squared&#8221;. On the contrary, Berkshire has profited substantially through its investment in Nu.
See Also: <a href="https://www.benzinga.com/25/01/42908280/intel-aims-for-cpu-market-share-growth-ai-breakthroughs-citi-reiterates-neutral-as-new-ceo-appointment-expected-in-coming-months">Intel Stock Has Fallen Over 58% In 1 Year, But Citi Maintains &#8216;Neutral&#8217; Rating On Expected Replacement Of Pat Gelsinger In A &#8216;Couple Of Months&#8217;</a> 
Why It Matters: According to its 13F filings, Berkshire held 86.438 million shares of Nu valued at $1.179 billion, as of the end of the third quarter.
With data for the fourth quarter not available at the time of writing, assuming that Berkshire&#8217;s holdings in Nu don&#8217;t change during this period, the value of these shares would have declined by 24.10% as of the quarter ended Dec. 31, when the share price was $10.36, as compared to $13.65 on Sept. 30, 2024.
However, Nu&#8217;s shares have risen by 27.43% in 2024, according to the data compiled by <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-1024x576.png" alt="" class="wp-image-730370" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
While Nu offers cryptocurrency services, one can argue in favor of Buffett that it&#8217;s not primarily a cryptocurrency company.
However, back in <a href="https://www.benzinga.com/general/24/03/37513063/warren-buffett-says-he-wouldnt-pay-25-for-all-the-bitcoin-in-the-world-he-considers-crypto-rat-poiso">2018</a>, Buffett also said &#8220;In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending.&#8221;
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/01/42938954/michael-saylors-microstrategy-faces-risk-if-mstrs-0-convertible-bond-lenders-recall-non-recourse-loans-due-to-covenant-breach-heres-what-it-means-for-investors">Michael Saylor&#8217;s MicroStrategy Faces Risk If MSTR&#8217;s 0% Convertible Bond Lenders Recall Non-Recourse Loans Due To Covenant Breach: Here&#8217;s What It Means For Investors</a></li>
</ul>
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Warren Buffett Openly Called Bitcoin A 'Rat Poison' In 2018. 7 Years Later, He Is Invested In This Crypto-Linked Stock Which Soared 27% In 2024

Bitcoin and Ethereum spot ETFs experienced a significant resurgence on Jan. 15, with a combined net inflow of over $815 million, marking the first positive day after a <a href="https://www.benzinga.com/etfs/currency-etfs/25/01/42971053/bitcoin-etfs-enter-2025-after-massive-first-year">four-day outflow period</a>.
What Happened: After four days of outflows, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) spot ETFs saw a strong rebound on Wednesday, recording a total net inflow of $755 million.
Bitcoin is trading around $99,000 at the time of writing, up 2% over the past 24 hours.
Fidelity&#8216;s (CBOE: FBTC) led the charge with a net inflow of $463 million, while Ark Invest and 21Shares&#8216; (CBOE: ARKB) attracted $139 million. 
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETFs also experienced positive inflows, reaching $59.7 million, with Fidelity&#8216;s (CBOE: FETH) securing $29.3 million and BlackRock&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>) garnering $19.8 million, according to <a href="https://sosovalue.com/assets/etf/us-btc-spot?from=moved">data</a>.
This influx comes as Thailand&#8217;s Securities and Exchange Commission considers permitting local Bitcoin ETFs, signaling a potentially broader shift toward crypto asset adoption in the Asia-Pacific region.
The Thai SEC is considering allowing both individual and institutional investors access to these instruments, marking a departure from its current stance which only permits fund-of-funds offerings that track overseas Bitcoin ETFs, <a href="https://www.bloomberg.com/news/articles/2025-01-15/thailand-mulls-allowing-first-bitcoin-etf-in-bid-to-boost-sector">according </a>to Bloomberg.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43014100/akash-network-founder-reveals-unexpected-ai-energy-crisis">Akash Network Founder Reveals Unexpected AI Energy Crisis Driving Decentralized Cloud Adoption</a>
SEC Secretary-General Pornanong Budsaratragoon acknowledged the need to adapt to global trends, stating in an interview that, &#8220;Like it or not, we have to move along with more adoption of cryptocurrencies worldwide. We have to adapt and ensure that our investors have more options in crypto assets with proper protection."
Thailand&#8217;s potential regulatory shift is part of a larger effort to establish itself as a digital assets hub in the Asia-Pacific region, an arena where Singapore and Hong Kong have also been active. 
Furthermore, the report notes that President-elect Donald Trump has stated his intention to make the US the global crypto capital.
Meanwhile, The New York Post <a href="https://nypost.com/2025/01/16/business/new-trump-ends-crypto-communitys-government-harassment/">reported</a> that Trump is set to sign executive orders aimed at bolstering the cryptocurrency sector.
These include creating a Bitcoin reserve, halting the &#8220;de-banking&#8221; policy, and appointing several &#8220;crypto-friendly&#8221; officials to prominent roles. 
However, prioritizing U.S.-originated cryptocurrencies like Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) and Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) has stirred debate.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43013194/morpheus-incentivizes-ai-agent-development-with-10m-builder-rewards">Morpheus Incentivizes AI Agent Development With $10M Builder Rewards</a></li>
</ul>
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FBTC

Bitcoin Consolidates Around $99,000 After $750 Million ETF Inflows On Wednesday

The cryptocurrency market witnessed significant downsides last week, although some coins exhibited resilience with meaningful gains.
What happened: BGB, the utility token for the centralized exchange Bitget, emerged as the best performer, rallying more than 11% over the week.
The Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) based coin has more than doubled in value during the last month, reaching an all-time high of $8.45 in the final week of 2024.
XDC, belonging to the XDC Network, was the second-highest gainer, lifting 5.42% over the week.&nbsp;
The XDC Network is a Layer-1 blockchain that aids in the tokenization of real-world assets.&nbsp;
Payments-focused cryptocurrency XRP rose 4.54%, becoming the most successful large-cap cryptocurrency in the last week.
Part of the excitement stemmed from Ripple Labs President Monica Long&#8217;s statement that an <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42878368/xrp-etf-very-soon-likely-next-after-bitcoin-and-ethereum-ripple-president-says">XRP exchange-traded fund</a> would be approved &#8220;very soon.&#8221;
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<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>7-Day Gains +/-</td>
<td>Price</td>
</tr>
<tr>
<td>Bitget Token (CRYPTO: BGB)</td>
<td>+11.83%</td>
<td>$6.80</td>
</tr>
<tr>
<td>XDC Network (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">XDC</a>)</td>
<td>+5.42%</td>
<td>$0.101</td>
</tr>
<tr>
<td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td>
<td>+4.54%</td>
<td>$2.53</td>
</tr>
</tbody>
</table>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42936962/shytoshi-kusama-outlines-treat-tokens-usefulness-ahead-of-launch-optimistic-whales-buy-up-shiba-inu">Shytoshi Kusama Outlines TREAT Token&#8217;s Usefulness Ahead Of Launch, Optimistic Whales Buy Up Shiba Inu</a>
Blue-chip currencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) <a href="https://www.benzinga.com/25/01/42936775/bitcoin-ethereum-dogecoin-rise-as-greed-sentiment-takes-over-top-analyst-says-breaking-this-resistance-level-could-be-pivotal-for-btc">had a rough week</a>, losing 4.88% and 11.63%, respectively.
Popular meme-based cryptocurrencies like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) also entailed heavy losses, sinking 14% and 11.65%, respectively.
The global cryptocurrency market capitalization contracted 6.7% to $3.29 trillion from $3.52 trillion the week before.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42935597/mark-cuban-advocates-bitcoin-over-gold-during-economic-turmoil-i-think-it-has-more-value-than-gold">Mark Cuban Advocates Bitcoin Over Gold During Economic Turmoil: &#8216;I Think It Has More Value Than Gold&#8217;</a></li>
</ul>
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Bitcoin, Ethereum Lost Way But XRP Made Promising Headway — Here Are The Best Performers From Last Week

An investor dumped Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) tokens at a loss on Sunday as the second-largest cryptocurrency capped off the week with double-digit negative returns.
What happened: A prominent whale, which controlled three wallets, swapped 10,070 Ether for 33 million in stablecoin Dai (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/dai/usd">DAI</a>), losing a million in the sale, according to Lookonchain.
The investor withdrew 24,029 Ether for a little over $81 million from cryptocurrency exchange Binance three weeks ago. After the latest sale, the investor was left with a bag of 13,959 ETH, worth $45.48 million.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Whales are dumping <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> at a loss! 9 hours ago, 3 wallets(likely belonging to the same whale) sold 10,070 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> for 33M <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DAI</a> at $3,280, losing $1M. This whale withdrew 24,029 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($81.3m) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> via 10 new wallets 3 weeks ago and currently holds 13,959 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($45.48M).… <a href="https://t.co/5lqFegRu3i">pic.twitter.com/5lqFegRu3i</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1878626686293643481?ref_src=twsrc%5Etfw">January 13, 2025</a></blockquote>
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However, the bearish sentiment wasn&#8217;t limited to any single entity. According to blockchain analytics firm IntoTheBlock, net inflows to exchanges <a href="https://app.intotheblock.com/">spiked</a> 791% to $338 million in the last 24 hours, suggesting that more ETH was entering than leaving exchanges, presumably to be sold off. 
Large transactions, valued at $100,000, also jumped by over 70%, implying greater engagement by whales.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42890745/us-government-granted-permission-to-liquidate-65-billion-in-bitcoin-seized-from-silk-road-case-report">US Government Silk Road Bitcoin Holdings Drop To 0 Amid Report DOJ Approved To Sell $6.5 Billion Worth Of Crypto</a>
Why It Matters: The second-largest cryptocurrency was in the middle of a corrective phase that has eroded over 11% of its value in a week.
The coin&#8217;s momentum indicators painted a bearish picture. The Moving Average Convergence Divergence indicator, which compares a stock's short-term price to its long-term price, flashed a ‘Sell&#8217; signal, <a href="https://in.tradingview.com/symbols/ETHUSD/technicals/">according </a>to TradingView. The Relative Strength Index, used to measure if the asset is overbought or oversold, was in the &#8220;Neutral&#8221; zone. 
However, derivatives traders were confident of a recovery. More than 82% of all traders on Binance with an active contract were long on Ethereum, according to the Long/Short Ratio.
Price Action: At the time of writing, Ethereum was exchanging hands at $3,250.93, down 0.92% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Year-to-date, the coin was down 2.86%, compared to a 46% upside in 2024.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/42890191/trump-themed-nfts-launch-on-bitcoin-network-for-first-timeheres-what-you-should-know">Trump-Themed NFTs Debut On Bitcoin Network — One Card Gets Listed At $1.9 Million</a></li>
</ul>
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$DAI

Ethereum Whale Offloads $33 Million In ETH At A Loss As Crypto Sinks 11% In A Week — This Is What Indicators Suggest

Vitalik Buterin, co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), sold meme coins gifted to him by project creators on Monday and allocated the proceeds toward his biotechnology charity Kanro.
What Happened: Buterin swapped notable coins like Neiro (NEIRO), Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)-inspired ESTEE, Marvin Inu (MARVIN), and several others for over $940,000 in stablecoin USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), according to on-chain tracking platform Spot On Chain.
Out of this, about 916,000 USDC was sent to a wallet belonging to his philanthropic fund, Kanro, established to address COVID-19 and other pandemic-related challenges.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Vitalik Buterin (<a href="https://twitter.com/VitalikButerin?ref_src=twsrc%5Etfw">@VitalikButerin</a>) sold several of his free <a href="https://twitter.com/hashtag/memecoins?src=hash&amp;ref_src=twsrc%5Etfw">#memecoins</a> for $940.9K in <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> today! Notable sales include: • 70M <a href="https://twitter.com/search?q=%24NEIRO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NEIRO</a> → 74.1K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> • 63.1M <a href="https://twitter.com/search?q=%24ESTEE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ESTEE</a> → 69.8K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> • 46.5M <a href="https://twitter.com/search?q=%24MARVIN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MARVIN</a> → 69.2K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> • 500.2K <a href="https://twitter.com/search?q=%24EBULL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$EBULL</a> → 67.6K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> • 100K <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> → 61.5K… <a href="https://t.co/VDWXID2xtG">pic.twitter.com/VDWXID2xtG</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1876262852031578522?ref_src=twsrc%5Etfw">January 6, 2025</a></blockquote>
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The biggest liquidation was that of NEIRO, a dog-themed meme coin inspired by the sister of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) mascot Kabosu. About 70 million NEIRO tokens, worth over $74,000, were offloaded. 
The sale caused the token&#8217;s price to plummet by over 3% in the last 24 hours. In contrast, ESTEE and MARVIN gained 28.66% and 14.50%, respectively, in the last 24 hours, <a href="https://coinmarketcap.com/currencies/estee/">according</a> to CoinMarketCap.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42827796/maga-meme-coin-surges-20-boosting-donald-trumps-crypto-portfolio-11-9m">MAGA Meme Coin Surges 20%, Boosting Donald Trump&#8217;s Crypto Portfolio $11.9M</a>
Why It Matters: Buterin&#8217;s charitable inclinations are also well documented. In December, he <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42696957/all-vitalik-buterin-wanted-for-xmas-was-a-hippopotamus-ethereum-co-founder-is-now-the-adoptive-father-of-viral-sensation-moo-deng">adopted the viral baby hippo</a> named Moo Deng, setting aside 88 Ethereum for the animal&#8217;s welfare and her family. He also <a href="https://www.benzinga.com/markets/cryptocurrency/21/07/22190225/ethereum-co-founder-donated-1b-shiba-inu-to-aid-india-in-covid-19-battle-money-reaching-th">donated  billions of dollars worth of Shiba Inu</a> for COVID-19 relief in India
The cryptocurrency mogul has <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40422601/dogecoin-shiba-inu-fall-as-ethereum-co-founder-vitalik-buterin-donates-over-500k-worth-of-">frequently asked projects not to send him unsolicited meme tokens</a>, a tried-and-tested strategy employed by nascent projects to pique investors' attention by leveraging on his brand value. Instead, he urged them to allocate the holdings to charities directly..
Price Action: At the time of writing, Ethereum was exchanging hands at $3,685.58, up 0.55% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42828238/gemini-resolves-cftc-lawsuit-with-5m-settlement-over-bitcoin-futures-misstatements">Gemini Resolves CFTC Lawsuit With $5M Settlement Over Bitcoin Futures Misstatements</a></li>
</ul>

Ethereum Co-Founder Vitalik Buterin Offloads Nearly A Million In Memecoins To Benefit Charities — Dogecoin's Sister Coin NEIRO Plunges 3% After Sale

The cryptocurrency market witnessed a sizable jump over the last week, with some unconventional meme coins taking the lead over market heavyweights.
What happened: Parody coin SPX6900 emerged as the market's top performer, rallying over 66% in the last seven days. Available on both Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), the cryptocurrency hit an all-time high of $1.55 on Sunday.&nbsp;
The coin that aims to surpass the market capitalization of the mammoth S&amp;P 500 index was also 2024's <a href="https://www.benzinga.com/24/12/42717267/2024s-cryptocurrency-champions-these-top-performers-surpass-bitcoin-in-a-year-of-unprecedented-gains">second-biggest gainer</a>, returning 10795% to its investors.
Fartcoin was the second-best-performing cryptocurrency, surging 64% over the previous week. The Solana-based coin hit an all-time high of $1.52 earlier this week, marking a rather eccentric journey from <a href="https://www.benzinga.com/25/01/42780221/from-giggles-to-gains-fartcoin-hits-new-all-time-high-equals-papa-johns-valuation">giggles to gains</a>
AIOZ token, belonging to the AIOZ Network, gained an impressive 39.35%, implying a market for technology-driven cryptocurrencies as well. AIOZ Network operates on a blockchain that supports Web3 storage, decentralized AI computation, and video streaming.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price </td>
</tr>
<tr>
<td>SPX6900 (SPX)</td>
<td>+66.97%</td>
<td>$1.49</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN)</td>
<td>+64.28%</td>
<td>$1.39</td>
</tr>
<tr>
<td>AIOZ Network (AIOZ)</td>
<td>+39.35%</td>
<td>$1.13</td>
</tr>
</tbody>
</table>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> &#8216;Pharma Bro&#8217; Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor</a>
Blue-chip currencies also marched upward, marking a good start to 2025. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained 6.51% while Ethereum, the second-largest cryptocurrency, rose over 8% over the week.
Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) were the biggest gainers in the large-cap category, surging 21.78%, 15.56%, and 21.78%, respectively.
Overall, the total cryptocurrency market capitalization rose 7.3% over the week to $3.52 trillion.
Photo by CMP_NZ on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42758291/elon-musks-return-to-original-x-avatar-causes-coin-themed-on-kekius-maximus-to-crash-90-frog-themed-pepe-slips-as-well">Elon Musk&#8217;s Return To Original X Avatar Causes Coin Themed On &#8216;Kekius Maximus&#8217; To Crash 90% — Frog-Themed PEPE Slips As Well</a></li>
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$ADA

Bitcoin, Ethereum Made Rapid Strides Last Week But SPX6900, Fartcoin Stole The Limelight With Biggest Gains

While it's only three days into the new year, Jan. 3 marks an important anniversary and a day the cryptocurrency world is celebrating. On this day, 16 years ago, Satoshi Nakamoto mined the genesis block of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), forever changing the <a href="https://www.benzinga.com/crypto">world of cryptocurrency.</a>
To celebrate the 16th birthday of Bitcoin, here are 16 fun facts about the cryptocurrency.
1. First Purchase:&nbsp;On May 22, 2010, history was made when&nbsp;Laszlo Hanyecz paid&nbsp;10,000 Bitcoin<a href="https://www.benzinga.com/markets/cryptocurrency/21/05/21185577/anthony-pompliano-launches-bitcoin-pizza-what-you-should-know-and-how-to-buy" target="_blank" rel="noreferrer noopener">&nbsp;for two pizzas</a>&nbsp;from&nbsp;Papa John&#8217;s International. The purchase of the two pizzas became the first goods transacted with Bitcoin.
The&nbsp;pizzas cost around $41 at the time. The Bitcoin used to purchase the pizzas would be worth over $460 million today, based on the current price of the cryptocurrency. May 22 is celebrated as Bitcoin Pizza Day every year.
2.&nbsp;Ethereum Co-Founder Ties To Bitcoin: Vitalik Buterin, one of the co-founders of&nbsp;Ethereum&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>),took a side job in 2011&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/21/09/22811912/5-things-you-might-not-know-about-ethereum-creator-vitalik-buterin" target="_blank" rel="noreferrer noopener">working for Bitcoin Weekly</a>. As a writer, Buterin was paid five Bitcoin for each article written. Later that year, Buterin founded Bitcoin Magazine, where he was the lead writer.
Buterin launched the white paper for Ethereum in late 2013 and officially launched the cryptocurrency on July 30, 2015.
3. Expensive Missing Wallet:&nbsp;James Howells&nbsp;threw out a hard drive in 2013 that contained his digital wallet. The wallet contained 8,000 Bitcoins. Howells, who lives in Wales, is trying to get the local city council to allow him to excavate the landfill in a last-ditch effort to find the hard drive containing the Bitcoin.
Howells offered a portion of the proceeds to the city if it allows him the chance to search. In 2024, Howells sued the<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42232028/remember-james-howells-who-lost-his-hard-drive-with-8000-bitcoins-now-worth-760m-his-ex-girlfriend-reveals-it-was-she-who-threw-it-away"> local city council </a>for not allowing him to excavate the landfill site. Howells&#8217; ex-girlfriend also revealed in 2024 that it was her who threw the hard drive away. Today, the Bitcoin are worth over $700 million.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42440369/bitcoins-next-move-105000-or-85000-poll-finds-over-60-say">Bitcoin&#8217;s Next Move: $105,000 Or $85,000? Poll Finds Over 60% Say…</a>
4.&nbsp;Satoshi Nakamoto, Still Anonymous?:&nbsp;The creator of Bitcoin remains anonymous to this date.&nbsp;Craig Wright&nbsp;previously fought in<a href="https://www.benzinga.com/markets/cryptocurrency/22/12/30182902/craig-wright-drops-controversial-quest-to-prove-hes-bitcoin-creator-only-validation-i-seek" target="_blank" rel="noreferrer noopener">&nbsp;a court case</a>&nbsp;to claim that he created Bitcoin, but many in the cryptocurrency community doubt the claim. Tesla CEO&nbsp;Elon Musk&nbsp;has<a href="https://www.benzinga.com/markets/cryptocurrency/21/12/24811305/elon-musk-offers-his-theory-on-the-identity-of-bitcoin-godfather-satoshi-nakomoto" target="_blank" rel="noreferrer noopener">&nbsp;supported a theory&nbsp;</a>that computer scientist&nbsp;Nick Szabo&nbsp;created Bitcoin. Szabo is one of a dozen or so names including Wright that are often linked to the identity of Nakamoto.
In 2024, a Bitcoin documentary titled "Money Electric: The Bitcoin Mystery" from investigative filmmaker Cullen Hoback added to the mystery. The documentary <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41242615/peter-todd-is-satoshi-nakamoto-bitcoin-core-developer-denies-hbo-documentary-claims-im-not">said that Bitcoin engineer </a>Peter Todd is most likely Satoshi Nakamoto, a claim which he denied.
The anonymous founder of Bitcoin is estimated to hold between 600,000 and 1.1 million Bitcoin.
5. Bitcoin White Paper:&nbsp;Before the official genesis mint of Bitcoin, there was the idea of the concept that became the cryptocurrency. On Oct. 31, 2008, Satoshi Nakamoto released the&nbsp;white paper&nbsp;called &#8220;Bitcoin: A Peer-to-Peer Electronic Cash System.&#8221; The white paper laid out themes like&nbsp;time-stamped transactions, proof-of-work, privacy and a simplified payment verification method.
&#8220;A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution,&#8221; the opening sentence of the white paper read. Satoshi&#8217;s white paper is considered required reading for anyone in the cryptocurrency space.
6. Nakamoto Statues:&nbsp;Despite Nakamoto being anonymous, a statue&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41255580/satoshi-nakamoto-identity-remains-a-mystery-after-hbo-documentary-bronze-statue-celebrates" target="_blank" rel="noreferrer noopener">was&nbsp;created&nbsp;to honor&nbsp;</a>the Bitcoin founder and unveiled in September 2021. The Satoshi Nakamoto statue can be found in Graphisoft Park, located in Budapest, Hungary. The statue features Satoshi wearing a hoodie with the Bitcoin logo on its chest. The Nakamoto statue is free to visit 24 hours a day. The group behind the sculpture accepts donations made to their crypto wallets to increase awareness for the project.
&#8220;The statue is made of bronze, the face is made of a special bronze-aluminum composite, thus every visitor can see their own face when looking at Satoshi. We are all Satoshi,&#8221; the statue&#8217;s website reads.
In 2024, a new Satoshi Nakamoto statue was unveiled in Lugano, Switzerland. The statue honors the anonymity of Nakamoto by appearing transparent from the front and changing the view based on the angle the statue is viewed.
7. Coinbase Creation:&nbsp;Without the launch of Bitcoin and other cryptocurrencies, many public companies of today that mine cryptocurrency or act as trading platforms might not exist. One of the companies that owes a lot to the creation of Bitcoin is&nbsp;Coinbase Global Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).
Coinbase founder&nbsp;Brian Armstrong&nbsp;said he started the process of creating Coinbase after reading the Satoshi Nakamoto Bitcoin white paper. Armstrong then started coding an early prototype of Coinbase on nights and weekends. Armstrong and many early Coinbase employees opted to be paid a portion of their salary in Bitcoin.
8. Silk Road Shut Down:&nbsp;One of the knocks against Bitcoin over the years has been the usage of cryptocurrencies for illegal activities due to the anonymity of people making transactions. Online black market Silk Road was one of several marketplaces that used Bitcoin for money laundering, illegal drug transactions and other illegal activities.
The U.S. government seized more than 170,000 Bitcoins in 2013. The government sold off the Bitcoins in auctions in 2014 and 2015.
9.&nbsp;Bitcoin as Currency:&nbsp;One of the biggest cryptocurrency stories of 2021 was the&nbsp;announcement&nbsp;by El Salvador that Bitcoin would become an official currency of the country. El Salvador President&nbsp;Nayib Bukele&nbsp;announced in September that the country purchased 200 Bitcoins and would buy more. The country was the first to adopt Bitcoin as legal tender.
10. Bitcoin Unit Named After Founder:&nbsp;The smallest unit of Bitcoin is called a Satoshi, in reference to the anonymous creator of the cryptocurrency. One Satoshi is equal to 100 millionth of a Bitcoin. The smaller unit size and name are used to help with smaller transactions.
11. Limited Supply:&nbsp;Nearly 20 million Bitcoin have been&nbsp;<a href="https://www.buybitcoinworldwide.com/how-many-bitcoins-are-there/" target="_blank" rel="noreferrer noopener">mined</a>, as of the time of writing. Bitcoin comes with a limited supply of 21 million. After the 21 million Bitcoins are mined, no more will be able to be accumulated through the mining method, leaving only the existing Bitcoin to be bought and sold. This means there are currently around 1.4 million Bitcoin left to be mined.
Estimates call for the last Bitcoin to be mined in 2140, but that number could fluctuate as a rising price of Bitcoin has led more companies to get into Bitcoin mining.
12.&nbsp;Bitcoin Halving:&nbsp;A Bitcoin halving occurs every 210,000 blocks, which<a href="https://www.benzinga.com/money/what-is-bitcoin-how-does-it-work" target="_blank" rel="noreferrer noopener">&nbsp;happens roughly every four years</a>. The block rewards get halved as soon as the 210,000th&nbsp;block is mined.
Bitcoin halving is a method put in place for the cryptocurrency to help enforce synthetic price inflation until all Bitcoin have been mined and released. Theoretically, the Bitcoin halvings that occur should make it more expensive to create new Bitcoins and make the cryptocurrency more valuable.
Bitcoin acts the opposite of fiat currencies like the U.S. dollar with this method as currencies often lose their purchasing power over time instead of becoming more valuable.
The first Bitcoin halving happened on Nov. 28, 2012, followed by halving events in July 2016, May 2020 and April 2024.
13.&nbsp;All-Time Highs In 2021, 2024:&nbsp;Bitcoin enjoyed&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36083106/heres-how-much-100-invested-in-bitcoin-today-will-be-worth-if-crypto-hits-new-all-time-hig" target="_blank" rel="noreferrer noopener">a strong 2021</a>&nbsp;that saw the cryptocurrency added to the balance sheets of&nbsp;Tesla Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>),&nbsp;Block Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>)&nbsp;and other public companies. The cryptocurrency also hit an all-time high of $68,789.63 in 2021. Bitcoin traded at a range of $28,722.76 and $68,789.63 in 2021.
It took three years for Bitcoin, with 2024 presidential election acting as a catalyst, to hit <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42367065/exclusive-bitcoin-briefly-tops-100000-but-where-do-benzinga-readers-predict-it-will-finish-2024">new all-time highs</a> in 2024. The cryptocurrency continued to hit several new highs including soaring past the $100,000 milestone briefly in late 2024.
14. Market Cap Over $1 Trillion: In 2021, Bitcoin hit a market capitalization of $1 trillion for the first time. The cryptocurrency is the most valuable in the industry, with a market capitalization of $1.92 trillion at the time of writing.
With its current market capitalization, Bitcoin would rank as the sixth most valuable company in the world, trailing only Apple, Nvidia, Microsoft, Alphabet and Amazon.
15. Bitcoin ETFs:&nbsp;One of the top news stories for 2024 surrounding Bitcoin was the<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36449219/bitcoin-crosses-45k-with-all-eyes-on-etf-countdown-is-jan-10-the-date-that-crypto-changes-" target="_blank" rel="noreferrer noopener"> approval of several Bitcoin ETFs</a>, which came after a federal court ruled against the U.S. Securities and Exchange Commission (SEC) and directed the regulatory agency to review the application from Grayscale Investments to convert its&nbsp;Grayscale Bitcoin Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>)&nbsp;into an ETF.
The Grayscale Bitcoin Trust is one of the top Bitcoin ETFs by assets under management today, ranking second as of the time of writing with $19.3 billion. The iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) ranks first with $52.1 billion, followed by GBTC, Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>) and Ark 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>).
On July 1, 2013,&nbsp;Gemini&nbsp;founders&nbsp;Cameron and Tyler Winklevoss&nbsp;<a href="https://www.benzinga.com/24/12/42519107/if-you-invested-1000-in-bitcoin-when-the-first-bitcoin-etf-was-filed-heres-how-much-youd-have-today" target="_blank" rel="noreferrer noopener">filed the Winklevoss Bitcoin Trust</a>&nbsp;as a planned Bitcoin ETF. The Winklevoss twins saw their initial filing and a second attempt rejected in 2018.
16. U.S. Election Turns to Crypto: The 2024 U.S. presidential election saw one of the issues on voters' minds being cryptocurrency regulation and support. Donald Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41096120/if-you-invested-1-000-in-bitcoin-when-donald-trump-said-he-wasnt-a-fan-heres-how-much-youd">showed a change of heart </a>after being against crypto.
&#8220;If you like crypto in any form…if you&#8217;re in favor of crypto you&#8217;d better vote for Trump,&#8221; the former president said in 2024.
Trump's campaign team went on to be the first major party campaign to<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38952866/trump-accepts-cryptocurrency-donations-in-bitcoin-ethereum-shiba-inu-dogecoin-and-more-say"> accept cryptocurrency donations</a>, following several primary candidates starting this practice. Donations of Bitcoin, Ethereum, Solana, Tether, XRP, Dogecoin, Cardano, Shiba Inu and Avalanche were accepted by Trump's campaign.
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This article was previously published by Benzinga and has been updated.
This image was created using artificial intelligence MidJourney.

Education

COIN

GBTC

IBIT

TSLA

Happy Birthday Bitcoin: 16 Fun Facts About Leading Cryptocurrency

One of the more unusual trades by a member of Congress in 2024 was Rep. Mike Collins (R-Ga.) buying meme cryptocurrency Ski Mask Dog Coin (CRYPTO:SKI), which led to the crypto soaring in value and later hitting all-time highs shortly<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42330146/congressman-buys-meme-coins-ski-mask-dog-coin-climbs-in-value-after-disclosure-i-liked-the-coins-so-i-bought-them"> after the disclosure.</a>
A new filing shows Collins bought more after his last disclosure.
What Happened: The trading activity of <a href="https://www.benzinga.com/topic/congress-trading">members of Congress</a> continues to be closely followed by investors as stock purchases can come ahead of key information and potential gains.
While members of Congress likely don't have the same alleged insider information when it comes to cryptocurrency, trading activity in the sector warrants close monitoring, especially when it involves a meme cryptocurrency valued at around $225 million.
On Jan. 1, Collins disclosed that he purchased another $1,000 to $15,000 worth of Ski Mask Dog, adding to his previous disclosures in early December that he bought $2,000 to $30,000 worth of the meme coin.
The transaction, which can be viewed on <a href="https://www.benzinga.com/gov-trades">Benzinga's Government Trades page</a>, came on Dec. 3. That means that the same day that Collins' previous disclosed purchases began hitting the news, the Congressman was buying more of the coin.
Collins' latest trade was once again marked as unusual by several prominent social media accounts that track congressional trading activity.
<ul>
<li>"BREAKING: US politician Michael Collins has yet again bought crypto. He bought up to $15,000 of SKI MASK DOG, $SKI, crypto. Unusual," Unusual Whales <a href="https://x.com/unusual_whales/status/1874845104076390422">tweeted</a>.</li>
</ul>
<ul>
<li>"Congressman @RepMikeCollins just disclosed he bought more Ski Mask Dog on 12/3, the same day news of his first purchase broke and the coin rallied. So a Congressman single-handedly moved a market, then bought more, and disclosed it a month later," Congresstrading <a href="https://x.com/congresstrading/status/1874851774856884636">tweeted</a>.</li>
</ul>
Collins previously confirmed the purchase with Decrypt and also responded to a previous tweet from Unusual Whales with a meme of Pepe the Frog, a well-known image in the crypto community thanks to the meme cryptocurrency Pepe.
&#8220;I liked the coins, so I bought them,&#8221; Collins previously told Decrypt. &#8220;Washington and Wall Street have stigmatized emerging technology in the crypto ecosystem for far too long, and it&#8217;s about time that we start treating the industry with the respect it deserves.&#8221;
When asked about meme coins and if they need to be disclosed by members of Congress for trading activity, Collins said yes.
&#8220;Meme coins should certainly be treated as any other asset, digital or otherwise.&#8221;
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent123124">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Ski Mask Dog coin rallied in December after Collins first purchase was disclosed.
The coin hit an all-time high of $0.3639 on Dec. 5 after the Congressman's first purchase disclosure. The latest trade disclosure shows that Collins also bought more Ski Mask Dog coin on Dec. 3 ahead of the all-time highs.
Collins, who won re-election in the 2024 election, has previously disclosed buying and selling cryptocurrencies like Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Aerodrome (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">AERO</a>), Velodrome (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">VELO</a>) and The Graph (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">GRT</a>).
Collins' purchases of Ethereum have been larger in recent disclosures compared to the meme coin he recently bought. The congressman has also disclosed selling some of the cryptocurrencies in the past, which could make the recent meme coin buy one to watch in case he later shows he sold it after the recent gains.
Calls to ban members of Congress from buying stocks and options have grown, with President Joe Biden recently <a href="https://www.benzinga.com/24/12/42538504/biden-endorses-ban-of-congressional-stock-trading-nobody-in-the-congress-should-be-able-to-make-money-in-the-stock-market-while-in-office">endorsing a ban </a>on Congress trading.
When it comes to members of Congress buying and selling cryptocurrencies, there is less support and it is less mentioned in potential legislation.
&#8220;Nobody in the Congress should be able to make money in the stock market while they&#8217;re in the Congress,&#8221; Biden said, failing to mention cryptocurrency.
Members of Congress are currently allowed to buy and sell stocks, options, cryptocurrency and make other investments as long as they are disclosed in 45 days.
Collins' trade, which happened nearly 30 days ago and came as his past trade in the same coin may have led to the price soaring could spark interest in putting the same ban on cryptocurrency. With pro-crypto President-elect Donald Trump taking office later this month, more members of Congress could be looking to add cryptocurrency to their investment portfolios.
Ski Mask Dog, which began trading in 2024, is up 6% in the past day.
The meme cryptocurrency currently trades at $0.2246 at the time of writing Thursday, versus a one-month range of $0.1472 to $0.3639.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/01/36459015/10-best-stock-traders-in-congress-in-2023-spoiler-nancy-pelosi-is-back-on-the-list">10 Best Stock Traders In Congress In 2023 (Spoiler: Nancy Pelosi Has Reentered The Chat)</a></li>
</ul>
Photo: SMRM1977 via Shutterstock

Government

Politics

$AERO

Golden Ratio Token - United States Dollar

$GRT

$VELO

Congressman Buys More Ski Mask Dog Coin: Will Meme Coin Hit New All-Time-Highs On Latest Disclosure?

World Liberty Financial, a cryptocurrency project backed by President-elect Donald Trump, continued to add momentum to the coins it was purchasing.
What happened: ONDO, a tokenization-themed cryptocurrency, zoomed over 11% to record-breaking highs, becoming the fourth-biggest market gainer over the last 24 hours.
The coin's trading volume surged over 73% to $483 million, suggesting significant buying pressure.
ONDO serves as the governance token of Ondo Finance, a decentralized finance platform built atop Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) that tokenizes real-world assets.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:00 p.m. EDT)</td>
</tr>
<tr>
<td>Ondo (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ONDO</a>)</td>
<td>+11.81%</td>
<td>$2.08</td>
</tr>
<tr>
<td>Ethena (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>)</td>
<td>+8.25%</td>
<td>$1.28</td>
</tr>
</tbody>
</table>
</figure>
Another Ethereum-based coin, ENA, lifted to an eight-month high following an 8% increase in the last 24 hours.&nbsp;
ENA is the native token of Ethena, a protocol that offers a so-called synthetic dollar for DeFi uses.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42500002/massive-crypto-exchange-witnesses-unusual-100-million-bitcoin-activity">Massive Crypto Exchange Witnesses Unusual $100 Million Bitcoin Activity</a>
The upsurge was powered by significant purchases by World Liberty Financial. The DeFi project spent $250,000 to buy 134,216 ONDO tokens on Sunday, on-chain data showed.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) just spent 250K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy the first 134,216 <a href="https://twitter.com/search?q=%24ONDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ONDO</a> an hour ago! Overall, since November 30, this fund has spent $44.75M to buy 6 crypto assets: • 8,105 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> (cost: $30M, avg buy price: $3,701), now +$2.12M • 102.9… <a href="https://t.co/KBaKgqvvq1">https://t.co/KBaKgqvvq1</a> <a href="https://t.co/ez4dNwmATA">pic.twitter.com/ez4dNwmATA</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1868450217491935553?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
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A day earlier, the fund acquired over $500,000 of ENA at an average buying price of $0.981.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) is buying <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a>! 3 hours ago, this fund spent 500,013 <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy the first 509,955 <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a> at an average price of $0.981. Overall, since November 31, World Liberty Financial has spent $44.41M to buy 5 crypto assets,… <a href="https://t.co/2jSNS2Oc00">pic.twitter.com/2jSNS2Oc00</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1868073696663122207?ref_src=twsrc%5Etfw">December 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Since the beginning of December, the project has i<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42452819/trump-backed-world-liberty-financial-bags-10m-in-ethereum-whats-going-on">nvested more than $44 million</a> to bag cryptocurrencies like Ether, Aave (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/aave/usd">AAVE</a>), and Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) along with ONDO and ENA.
World Liberty Financial is being <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">promoted as a decentralized money market </a>that will allow users to borrow, lend, and earn interest on cryptocurrencies.
Trump and his family have aggressively promoted the project, and a firm associated with the President-elect, DT Marks DEFI, LLC, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok">would receive 75% of the protocol revenue</a>.
Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">positioned himself as the &#8220;Crypto President&#8221;</a> through several bold commitments, and his involvement with any coin, no matter how minor, significantly piques the market&#8217;s interest.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">Eric Trump Declares Bitcoin The Future, Details Tax-Free Crypto Goals For Trump Presidency</a></li>
</ul>
Photo courtesy: Wikimedia

$AAVE

$ENA

$ONDO

Trump-Backed World Liberty Financial's Purchases Trigger Strong Rally In These DeFi Tokens

The week was a rollercoaster ride in the cryptocurrency world. From Peter Schiff&#8217;s advice to President Biden to sell all U.S.-owned Bitcoin, to a bearish turn in the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) markets, and a potential surge in Dogecoin&#8217;s value, there was no shortage of action. Here&#8217;s a closer look at these stories.
Peter Schiff&#8217;s Advice to Biden
Renowned economist Peter Schiff has urged President Joe Biden to sell all Bitcoin owned by the U.S. before his term ends. Schiff believes this move could help reduce the country&#8217;s growing budget deficit. He shared his advice via a post, calling it the &#8220;one good thing&#8221; Biden could do before making way for a potential Donald Trump presidency.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42404610/peter-schiff-advises-biden-to-do-one-good-thing-before-his-term-ends-sell-all-the-bitcoin-held-by-the-us">Read the full article here.</a>
Bitcoin, Ethereum, Dogecoin Turn Bearish
Despite U.S. Bitcoin ETF inflows nearing $10 billion, cryptocurrency markets were trading lower on Monday. This includes Bitcoin, Ethereum, and Dogecoin, all of which turned red.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42399235/bitcoin-ethereum-dogecoin-turn-red-timeline-got-bearish-trader-notes">Read the full article here.</a>
Dogecoin&#8217;s Potential Surge
Popular crypto trader and analyst Ali Martinez has expressed optimism about Dogecoin&#8217;s future. Following a dip in Dogecoin&#8217;s value, Martinez plans to buy more of the meme coin, stating that it&#8217;s still early in the DOGE bull cycle. He predicts that Dogecoin could potentially reach $18 if things &#8220;go wild&#8221;.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Read the full article here.</a>
Microsoft&#8217;s Bitcoin Proposal
Ripple&#8217;s Stablecoin Approval Ripple Labs secured NYDFS approval for its RLUSD stablecoin, marking a significant milestone in its market expansion. The new stablecoin, pegged to the US dollar, is part of Ripple&#8217;s strategy to capitalize on the growing demand for stablecoins.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42423570/ripple-secures-nydfs-approval-for-rlusd-stablecoin-xrp-price-up-9">Read the full article here.</a>
Bitcoin&#8217;s Next Move
After soaring in 2024 due to several catalysts, including Bitcoin ETFs and more companies acquiring the cryptocurrency, Bitcoin has dipped. As speculation grows about its next move, over 60% of Benzinga readers predict that new all-time highs will be hit next, while others anticipate a further dip to $85,000.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42440369/bitcoins-next-move-105000-or-85000-poll-finds-over-60-say">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42482064/shiba-inu-burns-13-million-coins-in-24-hours-shib-chart-looks-primed-for-launch-very-soon-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Burns 13 Million Coins In 24 Hours: &#8216;SHIB Chart Looks Primed For Launch Very Soon,&#8217; Says Trader</a></li>
</ul>
Photo courtesy: Shutterstock
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

MSFT

Schiff's Advice To Biden, Dogecoin's Potential Surge, Microsoft's Bitcoin Proposal, And More: This Week In Crypto

Asset manager VanEck&nbsp;has projected a significant upswing in the cryptocurrency market, anticipating record&nbsp;highs by the end of&nbsp;2025. This prediction outlines expectations for&nbsp;Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&nbsp;to reach approximately $180,000 and&nbsp;Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)&nbsp;to exceed $6,000.
What Happened: According to&nbsp;Matthew Sigel,&nbsp;head of digital asset research&nbsp;at VanEck, the firm <a href="https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-10-crypto-predictions-for-2025/">foresees</a> a 30% retracement in Bitcoin prices before these highs, with altcoins potentially experiencing&nbsp;sharper declines of up to&nbsp;60% during market consolidation in the summer.
VanEck also predicts the U.S.&nbsp;will adopt a Bitcoin strategic&nbsp;reserve in 2025, with regulators approving&nbsp;more crypto exchange-traded funds (ETFs),&nbsp;boosting institutional adoption.
This includes new SEC leadership approving multiple spot crypto ETPs, with Ethereum ETPs featuring staking and&nbsp;both Ethereum and Bitcoin ETPs&nbsp;allowing in-kind transactions and redemptions.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42440369/bitcoins-next-move-105000-or-85000-poll-finds-over-60-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Next Move: $105,000 Or $85,000? Poll Finds Over 60% Say…</a>
Why It Matters: The cryptocurrency market has been a focal point for analysts and investors alike, with predictions of significant growth by 2025. A&nbsp;<a href="https://www.benzinga.com/24/12/42495703/bitcoins-2025-price-target-set-at-175k-minimum-analyst-predicts">recent analysis</a>&nbsp;highlighted Bitcoin&#8217;s potential to reach a minimum of $175,000, despite market fluctuations. This aligns with&nbsp;VanEck&#8217;s&nbsp;optimistic outlook.
However, the path to these highs may not be smooth. Analyst&nbsp;Michaël van de Poppe&nbsp;warned of potential&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">flash crashes</a>, suggesting strategic entry points for investors during these dips. This sentiment was echoed in another report indicating that Bitcoin and Ethereum are <a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip">nearing critical buying levels</a>.
Additionally, Bitcoin&#8217;s role in global economic strategies is evolving. At a recent conference, Anthony Pompliano emphasized Bitcoin&#8217;s potential as a <a href="https://www.benzinga.com/news/events/24/12/42484380/bitcoin-isnt-just-a-financial-tool-pompliano-calls-it-a-sovereignty-strategy">sovereignty strategy</a>, highlighting its use as a hedge against sanctions and its growing influence on national financial resilience.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42495680/crypto-analyst-foresees-altcoin-rally-and-sets-crucial-bitcoin-support-level">Crypto Analyst Foresees Altcoin Rally And Sets Crucial Bitcoin Support Level</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Analyst Color

Crypto Market Predicted To Surge To All-Time Highs By Late 2025, But A 30% Drop In Bitcoin Prices Could Come First

World Liberty Financial, a cryptocurrency project backed by President-elect Donald Trump, purchased Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) worth $10 million on Wednesday.
What Happened:&nbsp;According to on-chain tracking platform Lookonchain, World Liberty Financial&nbsp;spent $10 million worth of stablecoin USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) to buy 2,631 ETH at a per-unit price of $3,801. With this grab, its total ETH holdings shot up to around 14,571, worth over $56 million at the current market price.
The project also bagged $1 million in Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>), and $1 million in Aave (CRYPTO: AAVE.), on-chain data showed.
The purchases were made through&nbsp;the World Liberty Multisig wallet, with the funds being converted from USDC.
The World Liberty Financial team didn&#8217;t immediately return Benzinga&#8217;s request for clarification on these purchases.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump&#39;s World Liberty(<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) is buying <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> and <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a>! In the past 9 hours, the World Liberty Multisig wallet spent 10M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 2,631 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> at $3,801, 1M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 41,335 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> at $24.2, and 1M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 3,357 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a> at $297.8.<a href="https://t.co/mtD0c2tvvo">https://t.co/mtD0c2tvvo</a> <a href="https://t.co/B11KvcwRJQ">pic.twitter.com/B11KvcwRJQ</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1867036708983935325?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42446000/peanut-the-squirrel-popcat-goat-eclipse-dogecoin-shiba-inu-in-single-day-gains-on-exchange-listing-frenzy">Peanut The Squirrel, Popcat, GOAT Eclipse Dogecoin, Shiba Inu In Single-Day Gains On Exchange Listing Frenzy</a>
Why It Matters:&nbsp; Launched in September as a<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know"> hard fork </a>of the popular decentralized finance protocol Aave, World Liberty Financial is being promoted as a money market that will allow users to borrow, lend, and earn interest on cryptocurrencies. 
The WLFI token would serve as the platform's governance token, enabling users to engage in borrowing, lending, and other DeFi activities. 
Initially targeting a $300 million raise through the token presale, the platform reduced its goal to $30 million in October due to limited demand.
As of this writing, the project has raised $55.69 million, <a href="https://dune.com/fergmolina/world-liberty-financial" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to a Dune Analytics dashboard, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42198909/trump-linked-crypto-platform-world-liberty-financial-appoints-justin-sun-as-advisor-after-30-million-investment">bolstered</a> by a $30 million investment by cryptocurrency mogul Justin Sun, who eventually became the project&#8217;s advisor.
Trump and his family have aggressively promoted the project, and a firm associated with the President-elect,&nbsp;DT Marks DEFI, LLC, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok">would receive 75% of the protocol revenues</a>.
Price Action:&nbsp; At the time of writing, Ethereum was exchanging hands at $3,935.93, rallying 7.48% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42446237/xrp-price-explodes-20-to-2-43-after-ripple-receives-rlusd-stablecoin-approval">XRP Price Explodes 20% To $2.43 After Ripple Receives RLUSD Stablecoin Approval</a></li>
</ul>

Trump-Backed World Liberty Financial Bags $10M In Ethereum: What's Going On?

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) has taken a sharp U-turn this week amid the broader cryptocurrency market&#8217;s decline, but that hasn&#8217;t deterred optimists.
What happened: The dog-themed meme coin has descended as much as 19% this week from the 7-day peak of $0.48. The downturn has been precipitated by Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) flash crash on Monday.
Widely followed cryptocurrency analyst Trader Tardigrade observed that DOGE was oscillating between the oversold and overbought zones on the macro chart and that the cycle top was still a long way away.
&#8220;DOGE has just left the oversold zone and is now heading to the overbought zone, which is projected linearly at around $8 to $10,&#8221; the analyst stated. &#8220;I consider this is the top of this cycle.&#8221;
Trader Tardigrade projected that after the top, DOGE could fall to the support zone of $0.8 to $1.8, which could be an entry point for the next cycle.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> has been bouncing between the Oversold and Overbought Zones on macro chart &#x1f525;<a href="https://twitter.com/search?q=%24Doge&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Doge</a> has just left the oversold zone and is now heading to the overbought zone, which is projected linearly at around $8 to $10. I consider this is the top of this cycle. The next floor price… <a href="https://t.co/LiOIuZaX63">pic.twitter.com/LiOIuZaX63</a>
&mdash; Trader Tardigrade (@TATrader_Alan) <a href="https://twitter.com/TATrader_Alan/status/1866111567793934778?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
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Another technical analyst with a sizable X following Charting Guy projected that the DOGE&#8217;s choppy movement would end in the next 10 days and the next breakout would propel it to all-time highs.
&#8220;IMO, we are in the final moments to accumulate alts at decent prices; don't let the blood scare you, get greedy,&#8221; the trader said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> last cycle fractal update&#x203c;&#xFE0F; consolidation/chop should be over within 10 days or so if we continue to follow this next move should take us to ATH&#x1f4c8; imo, we are in the final moments to accumulate alts at decent prices, don't let the blood scare you, get greedy <a href="https://t.co/RLRAKO6sTl">https://t.co/RLRAKO6sTl</a> <a href="https://t.co/hkqDydCVGB">pic.twitter.com/hkqDydCVGB</a>
&mdash; Charting Guy (@ChartingGuy) <a href="https://twitter.com/ChartingGuy/status/1866519672637563092?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Why It Matters: This bullish remark contradicted signals from some well-known technical indicators of the cryptocurrency.
The Moving Average Convergence Divergence indicator flashed a &#8220;Sell&#8221; signal as of this writing, per <a href="https://in.tradingview.com/symbols/DOGEUSD/technicals/">data </a>from TradingView.
The MACD compares two exponential moving averages of an asset&#8217;s price to show the trend&#8217;s momentum.
Similarly, the Momentum indicator, which compares the current price with the previous price from several periods ago, indicated a bearish sentiment.
In the last 24 hours, the balance of long-term DOGE holders declined by 0.88%, <a href="https://app.intotheblock.com/">according </a>to IntoTheBlock, suggesting that they were selling aggressively. 
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.3901, down 3.38% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. 
Image via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42429033/xrp-surpasses-bitcoin-ethereum-with-286-monthly-gains-as-whale-deposits-hit-highest-levels-since-april">XRP Trumps Bitcoin And Ethereum With 286% Monthly Gains As Whale Deposits Hit Highest Levels Since April: Here&#8217;s What You Should Know</a></li>
</ul>

DOGE

Dogecoin's Cycle Peak Projected $8-10 By Top Trader Amid Pullback, But Here's Why You Should Be Careful

Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) CEO David Solomon said on Tuesday that the investment banking giant might explore becoming a spot market maker for leading cryptocurrencies if more regulatory clarity is provided.
What happened: At the Reuters NEXT event, Solomon stated that the firm's ability to participate in spot trading for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) was "extremely limited" from a regulatory point of view.
"You have to ask regulators because, at the moment, as a regulated banking institution, and I think you know this, we&#8217;re not allowed to own a cryptocurrency like Bitcoin as a principal," the CEO said.
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Solomon acknowledged the broader sentiment that the regulatory framework vis-à-vis digital assets might evolve in the incoming Donald Trump administration but added that it's still "unclear" as to how it'd evolve.
However, he said that if the regulatory framework changes, the firm would "evaluate" making markets in Bitcoin and Ethereum.
&#8220;If, from a regulatory perspective, we were allowed to interact in these assets, we have a pretty big infrastructure."
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Why It Matters: Goldman Sachs began <a href="https://www.benzinga.com/24/11/42029764/global-banks-jp-morgan-goldman-sachs-add-to-bitcoin-ethere-etf-positions-in-q3-morgan-stanley-increases-microstrategy-stake-to-16b">investing in spot exchange-traded funds </a>tied to Bitcoin and Ethereum this year, with the latest 13F filing revealing significant positions.&nbsp;
The bank disclosed $710 million invested across multiple Bitcoin ETFs, with a stake of 12.7 million shares valued at $461 million in iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>).&nbsp;
It also holds $25.16 million in Ethereum ETFs, split between Grayscale Ethereum Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>) and Fidelity Ethereum Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>).
The firm was also betting <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42047066/goldman-sachs-to-spin-out-digital-assets-platform-amid-blockchain-push">big on its blockchain business</a>, planning to spin out its digital assets platform into an independent company within the next 12 to 18 months.
Price Action: Shares of Goldman Sachs were up 0.19% in after-hours trading after closing down 1.53% during Tuesday's regular session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a></li>
</ul>

Goldman Sachs CEO Says Bank Can Consider Bitcoin, Ethereum Spot Trading If Regulations Allow

Legendary trader Keith Gill, popularly known as Roaring Kitty, returned to social media on Thursday, sparking a wild spike in cryptocurrencies related to GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>).
What happened: GameStop (GME) blasted nearly 65% in the last 24 hours to set new all-time highs.&nbsp;
The Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based coin lifted as high as $0.00025 when <a href="https://www.benzinga.com/general/social-media/24/12/42349100/gamestop-rockets-as-roar[%E2%80%A6]y-returns-to-x-what-does-his-tweet-signal-ahead-of-q3-earnin">Roaring Kitty's X post </a>first surfaced before swiftly pulling back to $0.00019, according to CoinMarketCap.
The token witnessed frantic trading activity with a 453% jump in volume.&nbsp;
Another coin based on BNB Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>), namely GameStop Coin (GME), soared 82%, accompanied by a 14% jump in trading volume.
A memecoin named after Roaring Kitty himself shot as much as 25% on the development.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:00 p.m. EDT)</td>
</tr>
<tr>
<td>GameStop Coin (GME)</td>
<td>+82.23%</td>
<td>$0.00007312</td>
</tr>
<tr>
<td>GameStop (GME)</td>
<td>+65%</td>
<td>$0.0001994</td>
</tr>
<tr>
<td>Roaring Kitty (ROAR)</td>
<td>+25.78%</td>
<td>$0.006612</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42331483/michael-saylors-bitcoin-strategy-drives-microstrategys-490-surge-hedge-fund-cio-says-its-an-extreme-example-of-volatility-monetization">Michael Saylor&#8217;s Bitcoin Strategy Drives MicroStrategy&#8217;s 490% Surge, Hedge Fund CIO Says It&#8217;s An &#8216;Extreme Example&#8217; Of Volatility Monetization</a>
The volatility was a result of a curiosity-inducing post by Roaring Kitty that showed a TIME magazine cover with a computer with a video screen. The video is paused at the 1:09 minute mark, for a total length of 4:20.
For the uninitiated, &#8220;420&#8221; is slang for smoking marijuana, especially around 4:20 PM in cannabis culture. It can also refer to <a href="https://www.benzinga.com/topic/420-0">cannabis-related celebrations</a> that take place on Apr. 20 every year
Time&#8217;s reference could suggest that investors have time to buy GameStop or another stock ahead of a key event.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/tXViICmVFG">pic.twitter.com/tXViICmVFG</a>
&mdash; Roaring Kitty (@TheRoaringKitty) <a href="https://twitter.com/TheRoaringKitty/status/1864742787197116887?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Note that these memecoins have no fundamental ties to GameStop or Roaring Kitty but are just playing on <a href="https://www.benzinga.com/news/24/07/39799183/whats-going-on-with-gamestop-stock">the speculations of a short squeeze of the meme stock </a>and a possible repetition of the historic 2021 event by the legendary trader.
The GameStop short squeeze began in January 2021 and was one of the biggest financial events of that year.
Roaring Kitty&#8217;s social posts have <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39807951/why-are-gamestop-and-kitty-themed-memecoins-trading-higher-today-read-on">drastically moved</a> the traditional and cryptocurrency markets this year.
Price Action: Shares of GameStop were up 3.04% in after-hours trading after closing up 5.92% during Thursday&#8217;s regular session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42331507/happy-bitcoin-100k-day-heres-how-nayib-bukele-brian-armstrong-and-peter-schiff-reacted-to-the-historic-milestone">Happy Bitcoin $100K Day: Here&#8217;s How Nayib Bukele, Brian Armstrong, And Peter Schiff Reacted To The Historic Milestone</a></li>
</ul>

$BNB

GameStop-Themed Memecoins Explode As Roaring Kitty Returns With Intriguing X Post: GME Coin Shoots Up Over 80%

Hong Kong-based gaming firm Boyaa Interactive has traded its Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) holdings for nearly $50 million in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). This strategic move comes as Bitcoin is on the brink of reaching a significant $100,000 price milestone.
What Happened: As per a company statement released on Friday, Boyaa Interactive has converted its Ethereum holdings into Bitcoin. The gaming giant exchanged 14,200 Ethereum (ETH) for approximately&nbsp;515 Bitcoin between November 19-28,&nbsp;thereby increasing their Bitcoin holdings to 3,183 BTC, valued at $310 million at the time of the announcement.
According to&nbsp;the <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1129/2024112900231.pdf">statement</a>, the value of Boyaa&#8217;s Bitcoin stash is nearly triple that&nbsp;of Japanese investment firm Metaplanet's&nbsp;Bitcoin holdings, which are around $111 million. Boyaa had initially acquired its Ethereum tokens&nbsp;for $39.45 million, at an&nbsp;average price of $2,777 per&nbsp;token.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a>
This considerable Bitcoin acquisition is in line with Boyaa&#8217;s wider strategy to invest in digital assets. In the previous year, the company had committed to investing&nbsp;up to $100 million in&nbsp;cryptocurrencies, including Bitcoin, Ethereum, and&nbsp;stablecoins.
Why It Matters: Boyaa Interactive is not the only company to bolster its Bitcoin reserves. Other major firms like Metaplanet and&nbsp;MicroStrategy Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) have also been increasing their Bitcoin holdings. 
MicroStrategy recently announced the purchase of an additional 55,500 BTC, worth $5.4 billion, taking its total Bitcoin holdings to over $37 billion.
This trend indicates a growing interest and confidence in Bitcoin among major companies, despite the cryptocurrency&#8217;s notorious volatility. 
By diversifying their investments into digital assets, these firms are not only hedging against traditional market risks but also positioning themselves to benefit from potential future gains in the cryptocurrency market.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42256959/dogecoin-trading-volume-skyrockets-76-indicating-potential-major-price-upswing">Dogecoin Trading Volume Skyrockets 76%, Indicating Potential Major Price Upswing</a>

Tech

MSTR

Gaming Company Bets Big On Bitcoin, Selling Ethereum For $50M Boost

Ethereum's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) handsome rally on Wednesday infused life in its cheaper alternatives, causing them to outperform the marquee asset.
What happened: Ethereum Name Service soared over 45% to become the cryptocurrency market's biggest gainer in the last 24 hours.&nbsp;
The rally catapulted the token to price levels last seen in Jan. 2022, while its market capitalization hit $1 billion after nearly five months.&nbsp;
ENS saw a 520% jump in trading volumes, implying a sharp jump in buying pressure.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:55 p.m. EDT)</td>
</tr>
<tr>
<td>Ethereum Name Service (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENS</a>)</td>
<td>+45.14%</td>
<td>$32.89</td>
</tr>
<tr>
<td>Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>)</td>
<td>+12.21%</td>
<td>$31.89</td>
</tr>
</tbody>
</table>
</figure>
Ethereum Classic also racked up double-digit gains to hit a six-month high. Its trading volume more than doubled to $1.18 billion in the last 24 hours. 
The gains in these lesser-known coins follow<a href="https://www.benzinga.com/24/11/42228090/bitcoin-ethereum-dogecoin-surge-as-traders-raise-risk-appetite-ahead-of-thanksgiving-analyst-says-eth-could-jump-to-highs-not-seen-since-late-2021"> Ethereum's sharp upswing</a>, which caused the second-largest cryptocurrency to spike nearly 8%.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a>
ENS and ETC are fundamentally different from Ethereum, but many retail investors see them as cheaper alternatives.&nbsp;
In the past too, positive news around Ethereum, such as the approval of <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897831/why-are-ethereum-classic-and-ethereum-name-service-shooting-up-on-spot-eth-approval-day">spot exchange-traded funds (ETFs)</a>, resulted in steeper hikes for these cheaper plays.
Ethereum Classic was created as a hard fork of the original Ethereum chain back in 2016 over disagreements within the community following a hack. The new chain inherited the name Ethereum as we know it, while the original one functions as Ethereum Classic.
ENS, on the other hand, is a token associated with Ethereum Name Service, a decentralized naming system that converts complex, machine-readable names to ones easily understandable by humans.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42205579/jim-cramer-says-bitcoin-and-ethereum-deserve-a-spot-in-your-portfolio-as-hedge-against-rising-us-debt-ive-liked-crypto-for-a-very-long-time">Jim Cramer Says Bitcoin And Ethereum &#8216;Deserve A Spot In Your Portfolio&#8217; As Hedge Against Rising US Debt: &#8216;I&#8217;ve Liked Crypto For A Very Long Time&#8217;</a></li>
</ul>

$ENS

$ETC

Ethereum Rally Gets Overshadowed By Searing Gains In Cheaper Plays: Why Are ENS And ETC Soaring Today?

Tim Draper, a prominent venture capitalist and cryptocurrency enthusiast, has made Bitcoin price predictions since 2014.
That year, Draper predicted Bitcoin to be $10,000 by the end of 2017. Despite skepticism, his forecast proved accurate, as Bitcoin hit $10,000 in November 2017 during its dramatic bull run.
In 2018, Draper forecast Bitcoin to reach $250,000 by the end of 2022. This bold prediction was not fully realized, though Bitcoin did reach an all-time high of approximately $69,000 in November 2021.
When Bitcoin failed to hit the target price in 2018, Draper extended the timeline to mid-2023. The futurist and investor based this target price on mass adoption, particularly by women and retail investors.
Draper said in an interview with Benzinga: "My first prediction was in 2014 when Bitcoin was at $180. I said that it would be $10,000 in three years. Sure enough, by the end of 2017, Bitcoin hit $10,000. Since then, I have not been as prescient. I thought Bitcoin would hit $250,000 by 2022! I think I am going to be three years off.&#8221; Draper added: &#8220;I think we can chalk those three years up to a weak government that regulated rather than encouraged new technologies. Our new government is more encouraging."
Since the U.S. presidential election in November, the crypto world has been celebrating with a decidedly more bullish outlook. Though many tokens have seen significant gains, including Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), Bitcoin has taken center stage, reaching a record high of $99,000 on Nov. 21, the second all-time high of the month.
Benzinga asked Draper what his prediction was for Bitcoin with the end of 2024 rapidly approaching and he responded: "This is just the beginning! If you are asking about price prediction, I would say about Bitcoin will reach about $120,000 by end of year."
Benzinga asked Draper what drives his future forecasts for Bitcoin, he pointed to the superiority of the cryptocurrency over traditional fiat and long-term trends in usage.
"It is a long-term trend. Bitcoin is just better technology than using banks and governments as the trusted third party. It is transparent, global, open, keeps perfect records, etcetera. It will make the world wealthier. When retailers (for currency) and governments (for taxes) realize that Bitcoin will save them money on each transaction, then there will be a great incentive for everyone to use Bitcoin."
When asked for his prognostication for 2025, Draper said he is holding out for the $250,000 level and cited the proposed U.S. Bitcoin reserve as a contributing factor.
"Assuming a standard supply and demand curve, if there is a big buyer like that, the price will continue to rise. I think 2025 is the year Bitcoin will finally hit my mark of $250,000," Draper noted.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42165734/bitcoin-etfs-registered-record-312-billion-net-inflows-last-week">Bitcoin ETFs Registered Record $3.12 Billion Net Inflows Last Week</a>
<h1 class="wp-block-heading">MicroStrategy Leads the Bitcoin Charge</h1>
Michael Saylor, co-founder of MicroStrategy, <a href="https://x.com/saylor/status/1861033309934862601">tweeted today</a><a href="https://x.com/saylor/status/1861033309934862601" target="_blank" rel="noopener"> </a>that the company acquired $5.4 billion in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the single biggest purchase of the world's leading decentralized digital currency.
In the tweet, Saylor stated, "MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per #bitcoin and has achieved BTC Yield of 35.2% QTD and 59.3% YTD. As of 11/24/2024, we hodl 386,700 $BTC acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR"
This is after the news that the company is making $500 million a day with its Bitcoin holdings, which Saylor said have appreciated by $5.4 billion over the past two weeks. Saylor predicted Bitcoin could reach $13 million by 2045, which would elevate its market cap to $250 trillion. 
<h1 class="wp-block-heading">Optimism Among Web3 Leaders</h1>
Nathan Berkley, CEO of Muhdo Health Limited, a health technology company specializing in DNA and epigenetic testing which incorporates cryptocurrency into its operations, has a bullish outlook on Bitcoin and independently concurs with Draper's forecast.
"I think we could see Bitcoin hit $120,000. With U.S. sentiment being positive to this market now, and understanding Web3 can have real impact, it's a great time to be in the space," Berkley noted.
Lisa Loud, executive director of Secret Network Foundation, a blockchain platform designed to enable privacy-preserving decentralized applications, said: "The Bitcoin of today is not the Bitcoin of 2020: we have a broader finance interest, politics, and uncertain regulatory changes. A conservative estimate would say it will end in the range of $92,000-115,000, but if we get a large opt-in from mainstream, we could blow this estimate out of the water."
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42173367/shiba-inu-burn-rate-soars-487-in-a-day-what-is-going-on"> • Shiba Inu Burn Rate Soars 487% In A Day: What Is Going On?</a>
Photo: Shutterstock

Exclusives

$USDT

EXCLUSIVE: Tim Draper Predicts Bitcoin To Reach $120K By End Of 2024, $250K In 2025

President-elect Donald Trump was discussing potential cabinet appointments with Brian Armstrong, the CEO of cryptocurrency exchange platform Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), in a closed-door meeting Monday
What Happened: The conversation would focus on cabinet and senior post appointments as Trump shapes his second administration, The Wall Street Journal <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-11-18-2024/card/exclusive-trump-to-meet-privately-with-coinbase-ceo-brian-armstrong-DDkgF0xW1BW242rVeuqx">reported</a>, citing sources familiar with the matter. 
Coinbase didn&#8217;t immediately return Benzinga&#8217;s request for a comment. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42034692/dogecoin-killer-shiba-inu-burn-rate-skyrockets-6223-what-is-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Digs Deeper Into Cryptocurrency? B</a><a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">akkt Shares Soar On Reported Interest From President-Elect&#8217;s Media Company</a>
Speculations pointed to Armstrong&#8217;s presence in <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done" target="_blank" rel="noreferrer noopener">Trump's cryptocurrency presidential advisory council</a>, which was mentioned as part of his election promise earlier this year.
The meeting comes at a time when the cryptocurrency industry increasingly looks forward to a supportive federal government under Trump, who pledged various <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40179714/trumps-bitcoin-stockpile-plan-would-have-positive-impact-on-crypto-prices-but-would-leave-">pro-cryptocurrency initiatives</a> during the election campaign.
Why It Matters: Armstrong welcomed what he called &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41450334/there-has-never-been-a-more-pro-crypto-congress-than-the-next-one-heres-why" target="_blank" rel="noreferrer noopener">America&#8217;s most pro-crypto Congress ever</a>,&#8221; noting that over 219 pro-cryptocurrency candidates were elected to the House and Senate.
Coinbase&#8217;s top executive has been vocal about his vision for reducing government size and enhancing economic freedom, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42035165/coinbase-ceo-brian-armstrong-says-doge-department-is-a-once-in-a-lifetime-opprtunity-advocates-abolishing-individual-income-tax">praising the idea</a> of a Department of Government Efficiency, or DOGE, under Elon Musk and Vivek Ramaswamy.
There have also been speculations about Charles Hoskinson, the co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41853924/cardano-up-13-as-speculation-around-charles-hoskinson-as-trump-crypto-policy-advisor-bubbles">potentially serving as a cryptocurrency policy advisor</a> in the Trump administration.
Price Action: Shares of Coinbase were down 0.74% in after-hours trading after closing up 6.40% on Monday, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049664/paul-tudor-jones-boosts-bitcoin-holdings-potentially-making-btc-his-largest-non-options-investment">Paul Tudor Jones Boosts Bitcoin Holdings, Potentially Making BTC His Largest Non-Options Investment</a></li>
</ul>

Trump And Coinbase CEO Brian Armstrong Reportedly In Talks Over Cabinet Appointments

Global investment banks revealed significant positions held in cryptocurrency-related exchange-traded funds (ETFs) and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) stock MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), according to their latest 13F filings with the SEC.
JPMorgan Chase
JPMorgan Chase &amp; Co., the world&#8217;s largest bank by market capitalization, made sizable investments in Bitcoin and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) ETFs for the quarter ending Sept. 30.
The bank purchased 387 shares, worth $13,982, of iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) after offloading them all in the last quarter.
JPMorgan also reallocated to Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>), bagging 213 shares worth $11,877. Overall, the banking giant's Bitcoin ETF exposure reached nearly $65,000.
JPMorgan tapped into the Ethereum ETFs for the first time, with sizable investments in Grayscale Ethereum Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>) and its miniature version, Grayscale Ethereum Mini Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>). Together, its stake in the two funds amounted to roughly $30,700.
The bid to increase cryptocurrency exposure caused JPMorgan to boost its MicroStrategy portfolio by 12.5% to 660,693 at the end of Q3, worth $111.39 million.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
Goldman Sachs
Another Wall Street giant, Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), reported its 13F filing last week.
The bank <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42010782/goldman-sachs-expands-bitcoin-etf-holdings-to-710-million">disclosed </a>$710 million invested across multiple Bitcoin ETFs, with a stake of 12.7 million shares valued at $461 million in IBIT.&nbsp;
These investments solidified Goldman&#8217;s position as the second-largest holder of IBIT, now the world's biggest Bitcoin investment fund, with assets worth $42.89 billion as of this writing.&nbsp;
Goldman Sachs holds $25.16 million in Ethereum ETFs, split between Grayscale&#8217;s Mini Trust and Fidelity&#8217;s Ethereum Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>).
Interestingly, the banking juggernaut liquidated around 534,894 shares of MicroStrategy in Q3, reducing its stake to $140.44 million.
Morgan Stanley
Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) downsized its Bitcoin ETF portfolio to $183.39 million, from $203 million in the <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40410418/goldman-sachs-makes-blockbuster-debut-adds-over-400m-in-bitcoin-etf-position-in-q2-as-morg">last quarter.</a> 
The outflows were primarily driven by the selling of 449,802 IBIT shares.
Additionally, Morgan Stanley invested in Ethereum ETFs, primarily through a stake in iShares Ethereum Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>).
Meanwhile, its MicroStrategy position jumped 22.6% to 9,595,008 shares worth $1.61 billion. 
Photo by Avi Rozen on Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42027183/michael-saylor-predicts-bitcoin-boom-says-100k-on-the-horizon">Michael Saylor Predicts Bitcoin Boom, Says $100K On The Horizon</a></li>
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