Alameda Research Commits $500 Million to Fund Distressed Trading Platform, Voyager Digital

$PENGU is a popular meme coin featuring a playful penguin mascot. Despite experiencing an airdrop disaster recently, $PENGU has been steadily growing in the market, especially following its debut on both Crypto.com and Hyperliquid.

Hyperliquid Adds $PENGU With 5x Leverage
As aforementioned, Hyperliquid has listed $PENGU on their platform while also introducing a highly requested feature, the option to trade the token with up to 5x leverage. This gives traders the opportunity to enhance their exposure to $PENGU, whether they aim to capitalize on its upward potential or take advantage of potential price drops.

Leverage offers traders the chance to make bigger moves, but it is not without risk. Essentially, leverage trading amplifies both profits and losses, so it is essential to exercise caution. Nevertheless, by community demand, $PENGU can now be longed or shorted with up to 5x leverage.

Growing Investor Confidence

Crypto.com is among the leading crypto exchanges worldwide and offers a range of services including trading, wallets, staking, and debit cards for cryptocurrencies. As one of the largest and most recognized platforms in the industry, a listing on Crypto.com can significantly boost investor confidence in that specific token. $PENGU being added to Crypto.com highlights this confidence in both the meme coin and the company behind it, Pudgy Penguins.

In any case, the addition of $PENGU on both Crypto.com and Hyperliquid is noteworthy. What began as a fun, lighthearted project in the crypto world is now receiving serious attention by traders and investors across the globe. The ability to trade with leverage on Hyperliquid enhances its appeal, providing traders with an added boost to their strategies.

According to Odaily, the Securities and Exchange Commission (SEC) of the Philippines has introduced comprehensive regulations for managing crypto assets, with an emphasis on disclosure, public offerings, trading, and marketing practices.

Enhancing Safety And Transparency

The new rules are designed to bolster investor protection and ensure greater transparency in the fast-evolving digital asset sector. As per the updated guidelines, crypto asset issuers are required to submit disclosure documents to the SEC at least 30 days prior to any marketing activities or public sales.

These documents must provide detailed information about the issuer, the key features of the corresponding crypto asset, its associated risks, and the underlying technology, along with a clear warning about potential risks such as value depreciation and limited transferability.

Complying With The System

Crypto assets deemed to be securities must have an SEC-approved registration statement before they can be publicly issued. Additionally, entities involved in the issuance or trading of crypto assets must adhere to anti-money laundering (AML) regulations and SEC reporting obligations. The Philippines SEC warns that failure to comply could lead to penalties, suspension, or even the revocation of licenses.

In any case, crypto adoption in the country continues to grow, especially since the national currency, the Philippine peso, has sharply weakened over the last 4 years and is currently among the weakest in Southeast Asia.

Aave is considering integrating the new Smart Value Recapture (SVR) oracle to address maximum extractable value (MEV) in its ecosystem. MEV occurs when blockbuilders reorder transactions for profit before finalizing blockchain blocks, often benefiting them at the expense of users.

An Intriguing Proposal

On December 23rd, Chainlink launched the SVR oracle to capture MEV profits and return them to DeFi protocols. Aave proposed using SVR to capture MEV through liquidations and send it to the Aave DAO for redistribution. The proposal aims to capture profits via MEV-related backrunning and redirect them to protocol users, helping reduce the overall negative impact of MEV.

Aave allows users to borrow cryptocurrencies using collateral, which can be liquidated if its value drops too much. While the liquidation system works, it also creates an opportunity for MEV, allowing blockbuilders to extract profits with minimal contribution to the process.

Mitigating Risks

The SVR oracle could help by auctioning rights to back-run the price feed of Chainlink during liquidations, capturing about 40% of MEV profits and redistributing them within the ecosystem. As the Ethereum (ETH) network grapples with MEV, users are turning to private transactions, known as dark pools, to avoid MEV extraction.

In fact, a recent report by Blocknative showed that private transactions now dominate the order flow within Ethereum. Order flow refers to the routing of buy and sell orders to exchanges or liquidity providers for execution, determining the sequence and timing of transactions.

It can be beneficial by providing liquidity, ensuring smooth transactions, and supporting fair price discovery. However, it can also be problematic if manipulated, such as through frontrunning or MEV extraction, which can exploit users and drive up costs. To mitigate such risks, private order flow, like dark pools, is often used to protect against exploitation and ensure fairness.

White-hat hackers are reportedly utilizing a new trick nowadays where they trick unsuspecting crypto thieves and scammers by sharing certain seed phrases to online wallets.

Caught In The Act

Mikhail Sytnik, an analyst at cybersecurity firm Kaspersky, stated in a recent blog post that he found numerous comments in finance-related videos on YouTube and other platforms where users asked about transferring Tether (USDT) between wallets, alongside a shared seed phrase.

The wallet with the shared seed phrase, as observed by Sytnik, contained around $8,000 worth of USDT on the Tron network, which was used as bait. To take the USDT, the would-be thief first needed to send a small amount of TRX to cover network fees.

However, once the thief sends TRX to the bait wallet, the TRX is immediately transferred to another wallet controlled by the white-hat hackers. This is because the bait wallet is set up as a multisignature wallet, requiring multiple approvals for any outgoing transactions.

Scams On The Rise

Sytnik described the scammers as being like digital Robin Hoods since the scheme mainly targets other dishonest individuals. He warned users never to attempt to access crypto wallets belonging to someone else, even if they are given the seed phrase, and to remain cautious of strangers online claiming to have crypto offers.

In July, Kaspersky revealed a more advanced scam aimed at greedy individuals. This scheme involved baiting victims on Telegram with links to legitimate crypto exchanges and disguising traps as exposed files that could be exploited. The goal was to install malware on various computers in order to steal sensitive data and assets.

Euro-pegged stablecoins have become a key catalyst for growth within the European cryptocurrency sector, fueled by the introduction of the Markets in Crypto-Assets Regulation (MiCA). These digital assets achieved new milestones in monthly trading volumes, drawing in significant liquidity and attracting institutional interest across Europe.

MiCA Drives Adoption Of Euro-Pegged Stablecoins
In November, the monthly trading volumes for euro-backed stablecoins reached their highest level in years, soaring to almost &euro800 million. A recent report by Kaiko and the Netherlands-based crypto exchange Bitvavo reveals that this surge was primarily driven by the EURI stablecoin, which gained substantial momentum following its listing on Binance. Other stablecoins in line with MiCA, such as EURC and EURCV, also contributed to the growth.

The regulatory clarity provided by MiCA, which came into effect in June, was instrumental in boosting investor confidence, driving liquidity, and attracting institutional investors. However, regulatory concerns continue to cause issues, as was highlighted by Tether deciding to discontinue its euro-backed stablecoin, EURT.

Explosive Expansion
In November, weekly trading volumes surpassed &euro12 billion, more than double the volume seen in October, as Bitcoin (BTC) hit an all-time high above $108,000. Meanwhile, the euro solidified its position as the third most traded fiat currency in global crypto markets, following the U.S. dollar and the Korean Won.

Several exchanges such as Bitvavo, Kraken, and Coinbase also played a pivotal role, with Bitvavo leading the charge in euro-denominated trading volumes, capturing nearly 50% of the market. These exchanges significantly expanded their offerings, listing over 331 new euro-denominated pairs in 2024 to cater to growing demand. Liquidity in the euro markets also improved dramatically, with the combined market depth for euro-denominated pairs increasing twofold by November.

Metaplanet has made its largest Bitcoin (BTC) acquisition to date, purchasing nearly 620 BTC as the cryptocurrency hovers below $100,000. The massive amount was bought by the Japanese investment firm on December 23rd, marking its biggest single purchase since it began investing in Bitcoin in May, nearly quadrupling its previous record buy of 159.7 BTC on October 28th.

Following the announcement, Metaplanet saw its stock experience a 5% increase on the Tokyo Stock Exchange but has fallen nearly 13% over the past week, according to Google Finance. Despite the recent dip, the stock has skyrocketed more than 2,100% this year as it embraced Bitcoin, hitting a record high of $26 on December 17th.

Fantastic ROI

With this latest purchase, Metaplanet now holds 1,762 BTC, worth approximately $168 million, with an average purchase price of around $75,600 per Bitcoin. The acquisition also propels its Bitcoin holdings to the twelfth largest among publicly traded companies, following behind medical technology firm Semler Scientific.

Metaplanet reported that its Bitcoin Yield between October 1st to December 23rd reached 310%, a substantial increase comparative to the 41.7% yield seen between July to September. The company uses BTC Yield as a metric to evaluate the performance of its Bitcoin acquisition strategy, which aims to benefit shareholders, it explained.

Going Beyond Bitcoin

In a separate announcement on December 18th, Metaplanet projected that it would achieve its first operating profit since 2017, emphasizing its goal to expand beyond simply accumulating Bitcoin as part of its treasury strategy.

The firm disclosed plans to formalize its Bitcoin accumulation and management as a distinct business division, focusing on financial products like loans, equity, convertible bonds, and other instruments to buy and hold BTC. In late November, Metaplanet also announced it intended to raise over $62 million through a stock acquisition program to purchase more Bitcoin for its treasury.

According to Donald Trump himself, former congressional candidate Bo Hines has been named the Executive Director of the Presidential Council of Advisers for Digital Assets. This appointment is part of a larger effort to expand the new Trump administration, reflecting a heightened focus on cryptocurrency policy.

A Noteworthy Transition

At 29 years old, Hines will collaborate with David Sacks, who has already been tasked with overseeing initiatives related to crypto and artificial intelligence. This dual leadership structure signals a coordinated approach to digital asset policy, with Trump emphasizing the importance of fostering innovation while ensuring that the industry receives robust support.

The appointment for Bo follows an active political career in North Carolina, where he secured the Republican nomination in 2022. Although he lost the general election to Democrat Wiley Nickel, Hines maintained his political presence. He later ran unsuccessfully in the 2024 Republican primary for the local 6th district, placing fourth with 14.4% of the vote.

Why This Matters

The appointment is noteworthy due to Hines previously having ties to crypto funding during his 2022 campaign, including donations by pro-crypto PACs. One significant contributor was Ryan Salame, a former executive at FTX, who is now serving a prison sentence for campaign finance violations.

While Hines does not have a significant public record on crypto policy, his appointment alongside established industry leaders like David Sacks hints at a shift toward more unified digital asset policy development. The creation of a dedicated Crypto Council underscores a growing focus on crypto regulation and the future of the industry.

Michael Saylor has put forward a proposal for a Digital Assets Framework in the United States, which includes creating a Bitcoin (BTC) reserve that he claims could generate up to $81 trillion for the U.S. Treasury.

Prioritizing Efficiency, Accessibility, And Innovation

The proposed framework outlines six key categories, namely digital commodities like Bitcoin, digital securities, digital currencies, digital tokens, non-fungible tokens (NFTs), and asset-backed tokens. The overall goal is to clarify the roles of issuers, exchanges, and owners, while stressing that no participant should engage in dishonesty or fraud. It also specifies clear rights and responsibilities for each participant group.

Additionally, the framework proposes a simplified compliance system with cost limits of no more than 1% of assets under management for token issuance and 0.1% annually for ongoing maintenance. Digital asset regulation should prioritize efficiency and innovation, avoiding unnecessary bureaucracy and friction, the proposal asserts, advocating for industry-led compliance instead of direct regulatory oversight.

Mixed Reactions

The framework also aims to drastically lower issuance costs while simultaneously expanding market access to 40 million businesses, with an emphasis on rapid asset issuance. One of the final objectives of the proposal is to establish the U.S. dollar as the global leading digital reserve currency. It additionally envisions expanding global digital capital markets to $280 trillion.

While many have praised the proposal, Peter Schiff, a well-known Bitcoin critic, dismissed it as complete nonsense, claiming it would do the opposite of what Saylor believes. According to Schiff, it would weaken the dollar, worsen the national debt, and turn the U.S. into a laughing stock.

easeflow raised an undisclosed amount in Strategic Funding with support by XProtocol. Easeflow simplifies the deployment and management of blockchain nodes through a one-click solution. It wants to create a robust modular infrastructure that accelerates widespread adoption and fosters a dynamic DePIN) economy, incentivizing active participation.

SilentBerry secured an undisclosed amount in Strategic Funding with support by CKB Eco Fund. SilentBerry is a Web3 digital content asset distribution platform that provides one-stop ecosystem services for digital assets.

Rumble acquired a whopping $775M in Strategic Funding with assistance by Tether.io. Rumble is an online video-sharing platform. It enables users to host, distribute, and monetize their videos, positioning itself as a rights management platform for creators.

EYWA | CrossCurve secured an undisclosed amount through Strategic Funding with help by Anton Bukov. Eywa is the official cross-chain data aggregation protocol for Cruve, and focuses on eliminating reliance on a single bridge when moving large liquidity positions.

Safle obtained an undisclosed amount in Strategic Funding with support by Boost VC. Safle is a non custodial wallet and self sovereign identity protocol. It makes buying, selling, transferring, and storing crypto as hassle-free as using a social media platform or email.

Inferix Labs raised $2.60M in Undisclosed Funding with support by DePIN X Capital. Inferix is a decentralized GPUs visual computing platform for 3D/AR/VR rendering and AI inference.

DuckChain obtained $5M in Undisclosed Funding with help by Kenetic Capital. DuckChain is a blockchain project designed as an EVM-compatible Layer 2 (L2) solution built on The Open Network (TON) blockchain.

BitDCA secured $2M in Pre-Seed Funding. BitDCA is a cryptocurrency company specializing in simplifying Bitcoin savings through its flagship mobile application, Littlebit.

FLock.io obtained $3M in Undisclosed Funding with help by Animoca Brands. FLock is dedicated to constructing a decentralized, privacy-preserving solution for AI. 

Hexagate raised an undisclosed amount in M&A Funding with support by Chainalysis. Hexagate is a Web3 security platform that helps wallet providers, protocols and aggregators to protect their users and assets.

After several days of consecutive price declines, Bitcoin (BTC) looks to reverse its fortunes as it surged above $99,000 not too long ago. Altcoins are also showing positive movement following the market-wide downturn, with many experiencing double-digit percentage gains on a daily basis. The market cap of BTC has also recovered to $1.95 trillion, and its dominance over altcoins stands at 54.6%, according to CoinGecko.

BTC Begins Recovery

The start of the business week saw a strong performance for Bitcoin, with its price rising to a new ATH of over $108,000 by Tuesday. The market was optimistic, expecting a push towards $110,000, especially after the U.S. rate cut on Wednesday. However, the situation quickly shifted and rather than continuing to climb, Bitcoin began a significant retracement.

The flagship crypto first fell below the $100,000 mark, and the decline continued as the bears maintained pressure. By Friday, Bitcoin dropped to a three-week low of $92,000, leading to concerns about whether this was a typical correction or the end of the bull market. As of now, it appears to be the former. Bitcoin halted its downward slide and made a strong rebound after surging to $99,000 before stabilizing at around $96,000.

Altcoins Continue To Struggle

Altcoins were hit even harder than Bitcoin during the market-wide decline, as anticipated. However, they have seen a recovery on a daily scale after Friday. Ethereum (ETH) dropped to $3,300 but rose to nearly $3,500, marking a 6% daily increase. XRP is also back above $2.20 after falling below $2 earlier on in the weekend.

Other notable gains include BNB, SOL, TRX, and HBAR, each showing around 5-6% growth on a 24 hour basis. More substantial price jumps have been seen in DOGE, ADA, AVAX, LINK, SHIB, TON, DOT, and several others, all of which have experienced double-digit increases. The total cryptocurrency market cap fell below $3.4 trillion yesterday but has since rebounded to surpass $3.55 trillion.

Other Markets

Residential buildings are rising across Shanghai as home sales in China continue to slump, with the absence of sustained stimulus efforts exacerbating the property crisis now in its fifth year. Amid global concerns, the Panama Canal has decided to maintain its limits due to drought-induced drops in lake levels, while Trump demands that Panama either reduce transit fees or return control of the canal.

Meanwhile, credit quality appears to have peaked, and companies like OpenAI and SpaceX are opting to stay private longer, avoiding public markets. Concurrently, India is experiencing a stock market boom reminiscent of the 1990s, with the Adani effect helping push Indian stocks ahead of most global markets in 2022. However, in Japan, bankruptcies are on the rise as citizens grapple with mounting debt.

Elsewhere, the European Central Bank is expected to continue its rate cuts into the next year, according to Vujcic, as Tesla gears up for earnings reports amid a $570 billion rally fueled by Elon Musk establishing a trading partnership with Donald Trump.

Aptos Labs Co-Founder Mo Shaikh will officially be stepping down as CEO. Despite his departure, Shaikh will remain with the company in a strategic advisory capacity to the board. Going forward, Aptos CTO Avery Ching will take over as CEO, tasked with leading the company into its next phase of growth.

Moving On

Mo stated that he plans to take some much-needed time to reflect on where the world is headed and to think deeply about the ways financial systems can evolve to continue to push Aptos as the most established Layer-1 blockchain in the space.

Shaikh expressed his long-standing passion for building systems that empower people, which means more equitable and open systems. He also emphasized his passion for creating innovative projects like Aptos.

Partnerships Are Key

As a Layer-1 blockchain, Aptos utilizes a unique programming language called Move, which was initially developed for Facebook and their Diem project. In June, Shaikh joined the Commodity Futures Trading Commission (CFTC), where he will assist in shaping regulatory guidelines for cryptocurrencies.

The Aptos blockchain has recently been performing strongly, with several new partnerships. Last month, the company teamed up with Circle and Stripe to enable seamless transfers across eight blockchains, enhancing DeFi interoperability. Aptos also expanded its advisory board, adding former Grayscale Investments CEO Michael Sonnenshein and OpenAI Chief Product Officer Kevin Weil.

Shiba Inu (SHIB) has officially revealed a new strategic alliance with Chainlink (LINK). As per the announcement, it was stated that the Shiba Inu ecosystem, which includes the Shibarium Layer 2 scaling solution on Ethereum (ETH), will implement the Chainlink Standard to improve cross-chain token (CCT) functionality across 12 different blockchains.

Seamless Transferability

The tweet by Chainlink highlights the adoption of the CCT standard by Shiba Inu assets, such as SHIB, BONE, and LEASH, while the Shibarium network has also embraced the CCIP (Cross-Chain Interoperability Protocol) as its core infrastructure for cross-chain operations and Data Streams for low-latency market data.

As part of the partnership, tokens like BONE and LEASH can now be transferred across various blockchains using the lock-and-mint and burn-and-mint mechanisms. Additionally, DeFi developers building on the Shibarium ecosystem can now leverage the CCIP to create interoperable projects. Chainlink shall also make their data streams available to the Shiba Inu network, enhancing both transparency and decentralization.

Market Impact

This partnership is expected to have a profound impact on the on-chain activity within the Shibarium platform. At the time of writing, the Shibarium network has a total value locked (TVL) of approximately $3.42 million across various DeFi protocols, primarily decentralized exchanges like ShibaSwap.

Despite a recent drop of over 15% in the Shiba Inu price over the past 24 hours, signaling some market consolidation, the collaboration with Chainlink is expected to draw more users into the Shiba Inu ecosystem, possibly triggering the next phase of bullish growth. SHIB also has a fully diluted valuation (FDV) nearing $12 billion, a daily trading volume of around $1.6 billion, and approximately 1.5 million holders, according to on-chain data by Etherscan.