Bitcoin has been setting new highs in recent days as investors predict it will soon reach the $100,000 mark.
The top asset touched an ATH of $99,588 on November 22 and has been trading above $98,000 since then.
Let's review the top news of the week from November 18 to November 24, 2024 with Bitcoin Magazine.
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, known for his tough stance on cryptocurrency regulation, will leave the agency on January 20, 2025, according to a statement released on November 21 by the securities regulator.
Gensler will step down on the same day that President-elect Donald Trump, who has a pro-crypto stance, begins his second term, the announcement said.
SEC Chairman Gary Gensler Officially Announces Resignation
President-elect Donald Trump is said to be considering a crypto advisor position at the White House, and his team is currently interviewing candidates, but has not yet revealed any prominent contenders.
According to a report from Bloomberg, Trump and his team are planning to introduce the first-ever White House crypto position. He is said to be engaging in discussions with industry leaders to find potential candidates. One of the most frequently mentioned names is Brian Brooks, the former Binance.US chief.
With a full-time crypto advisor at the White House, Trump's administration could push for positive crypto regulations. During his campaign, Trump pledged to undertake major reforms to the U.S. current crypto policy. His key initiatives include preventing anti-crypto moves in Congress, appointing industry allies as heads of financial regulatory agencies, and establishing a Bitcoin reserve fund.
Trump Considering New White House Crypto Advisor Role
Business intelligence firm MicroStrategy (MSTR) has accumulated additional BTC (Bitcoin) to its portfolio, purchasing 51,780 tokens for $4.6 billion last week.
With this latest purchase, the company, which began buying BTC in August 2020, now holds 331,200 BTC at a total cost of around $16.5 billion. At the current BTC price of around $90,000, this holding is worth nearly $30 billion.
To fund this latest acquisition, MicroStrategy deployed its at-the-market equity offering program, selling approximately 13.6 million shares for $4.6 billion. According to a statement released on Monday morning, the company has around $15.3 billion in additional shares that it can sell under the current program.
MicroStrategy Buys Additional 51,780 Bitcoin for $4.6 Billion, MARA Plans to Accumulate
Crypto asset manager Grayscale Investments plans to launch options trading for its Bitcoin ETF products on Wednesday, as investors begin to get a broader view of the strong demand for these products.
The announcement came a day after BlackRock's iShares Bitcoin Trust (IBIT) witnessed record-breaking activity on its first day of options trading, pushing Bitcoin to a new all-time high.
Grayscale stated that it will launch options trading on GBTC (Grayscale Bitcoin Trust) and BTC (Bitcoin Mini Trust) to "continue to develop the ecosystem around listed U.S. Bitcoin ETPs".
Grayscale Follows BlackRock, Launches Bitcoin ETF Options
SOL Eyes $400 After Breaking Out of Cup and Handle Pattern on Monthly Chart
DOGE Rises 6% After New Speculation About Elon Musk's X Payments
XRP Price Surges Over 30% After Global Asset Manager Launches XRP ETP in Europe
The Web3 game Hamster Kombat plans to "reconnect" with players who participated in Season 1 and attract new users despite a recent decline in monthly active users (MAU).
While this Telegram click-based game had broken records and reached 300 million users in August, the excitement has gradually waned, leaving the current MAU at around 30 million. However, a Hamster Kombat spokesperson said this decline was entirely within their expectations.
The Hamster Kombat team believes interest levels will have ups and downs but will ultimately increase again.
Hamster Kombat Team Plans to "Reconnect" as Players Show Signs of Dropping Out
Aave's Lending Volume Triples Since Start of Year, Surpasses $10 Billion
Quai Network launches the final testnet with a reward of 10 million QUAI tokens
DWF Labs launches a $20 million fund to support memecoin projects
The Graph (GRT) introduces the GRC-20 standard for Web3 data structures
Injective launches a new toolkit to build AI Agents on-chain
The Token Issuance date for Magic Eden is set for December 10
StarkNet will increase TPS 4X and reduce fees 5X within the next 3 months: StarkWare CEO
Brian Armstrong, the CEO of the U.S.-based cryptocurrency exchange Coinbase, is expected to meet with President-elect Donald Trump as Trump continues to announce his personnel choices for his administration and key government positions.
According to a report from the Wall Street Journal on November 18, Trump plans to meet privately with Armstrong to discuss personnel appointments. While the Coinbase CEO has not made direct contributions to the Republican Party's 2024 campaign or any political action committees (PACs) directly supporting Trump, Armstrong has previously stated that the exchange is willing to work with the Trump administration.
It is unclear whether Armstrong or any Coinbase employees may be appointed to any positions in the upcoming U.S. presidential administration.
Coinbase CEO to meet with Trump to discuss personnel appointments
Recent community chatter suggests that Binance is facing a significant wave of withdrawals. On November 19, Sani, the operator of the timechainindex.com website, shared that the platform is experiencing a substantial capital outflow.
"In recent weeks, Binance has faced a strong wave of withdrawals, forcing the exchange to use its cold storage reserve funds to meet this demand," Sani said.
"A few hours ago, they transferred 40,000 BTC between cold wallets and an additional 5,535 BTC to a new address, potentially related to them. We will continue to monitor to determine where this amount ultimately goes."
Binance currently tops the famous "Bitcoin Rich List," with a Pay-to-Script-Hash (P2SH) address "34xp4" holding 248,597.53 BTC, worth around $22.93 billion at the time of writing. This address has not made any outgoing transactions in nearly two years, with the last transaction on January 7, 2023. According to data from timechainindex.com, Binance is managing a massive 738,349.58 BTC, spread across thousands of addresses, with a total value of up to $68.08 billion.
Binance witnesses a strong outflow, forcing the use of cold storage reserve funds
Grayscale Investments, one of the world's largest issuers of Bitcoin ETFs, has taken a strategic step to improve the cost efficiency of its cryptocurrency ETFs through a reverse share split.
On November 19, Grayscale completed the reverse share split of two of its funds, the Grayscale Bitcoin Mini Trust ETF and the Grayscale Ethereum Mini Trust ETF.
Grayscale stated that the ETF share consolidation helps to "reduce the cost of trading" the securities.
Grayscale completes the reverse share split of Bitcoin and Ethereum ETFs
SEC is engaging with Solana ETF registrants
U.S. Bitcoin ETFs record $2.4 billion inflows as Chinese ETFs see record outflows
Bitwise registers a Solana ETF fund in Delaware, U.S.
SEC delays decision on Franklin Templeton's digital asset index ETF
Crypto funds add $2.2 billion in a week as capital inflows surge and AUM hits record high
CryptoQuant: Bitcoin ETFs currently control over 5% of the total BTC supply
Tether-backed company Quantoz launches 2 MiCA-compliant stablecoins USDQ and EURQ
Paxos aims to become an EU-licensed stablecoin issuer with a new acquisition
These MEME coins have gained more than Dogecoin in the past week
Simon's Cat MEME coin expands to Solana, setting a long-term growth trajectory
A child launches a MEME coin through Pump.fun and achieves a million-dollar breakthrough
Elon Musk's xAI company is now valued at $50 billion after a new capital raise
Nvidia sees a bright future for AI agents amid record revenue in Q3
Ethereum address "vitalik.eth" creates 400 NFT Patrons amid hopes of market recovery
On Monday, Apple confirmed that the company's devices are at risk of being exploited to remotely execute malware through JavaScript on web platforms, opening up a potential attack vector that could lead victims to unwittingly lose their cryptocurrencies.
According to Apple's recent security report, users must use the latest versions of JavaScriptCore and WebKit software to patch the vulnerability.
Apple admits security flaw that exposed crypto users' information - Here's what you need to do
The United States charges 5 perpetrators in a $11 million cryptocurrency heist conspiracy
South Korea confirms North Korea behind the $50 million Upbit hack
3,000 Mexicans scammed in a cryptocurrency trading bot scheme
Today, the National Assembly has conducted discussions on two important draft laws: the Draft Law on Management and Investment of State Capital in Enterprises; and the Draft Law on the Digital Technology Industry.
At the discussion, Prime Minister Pham Minh Chinh emphasized the importance of these two draft laws, affirming that they will establish essential mechanisms and policies to mobilize resources and promote socio-economic development, thereby ushering the country into a new era of development.
The Prime Minister stated that the enactment of the law on the digital technology industry is absolutely necessary. He stressed that in the process of drafting the law, it is necessary to be flexible, learn from practical experience, and gradually expand, without being dogmatic or hasty, but must take action.
"Artificial intelligence has made significant progress, and we cannot deny the fact that the virtual world is increasingly reflecting the developments in real life. We are still trading Bitcoin, so why don't we bring it under management?"
Prime Minister Pham Minh Chinh signals it's time to manage Bitcoin in Vietnam
Russia will impose a 15% tax on income from cryptocurrencies
Russia bans cryptocurrency mining in occupied areas of Ukraine from December
South Korea will apply a 20% tax on cryptocurrencies in 2025
Japan will relax cryptocurrency taxes under a new stimulus package
Compliance with MiCA will draw Europe into the crypto fever
Texas is discussing a bill on a strategic Bitcoin reserve
The United States is increasing pressure on cryptocurrency mixers like Tornado Cash
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The "Weekly News Roundup" section will be updated at 9:30 am on Sundays with a summary of news about the market, and we invite you to follow.
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