Weekly Crypto Market Insights: 23rd December 2024

Week in Review

- Donald Trump Appoints Bo Hines: Former President Donald Trump names Bo Hines as the head of the Presidential Council of Advisers for Digital Assets.

- Ripple Launches $RLUSD Stablecoin: Ripple officially unveils its stablecoin, $RLUSD.

- Bitcoin ETFs Surpass Gold ETFs: US Bitcoin ETFs have overtaken Gold ETFs in assets under management (AUM), flipping gold despite its 20-year head start.

- Cango Inc Enters Bitcoin Mining: Chinese NYSE-listed auto trading platform Cango Inc has quietly become a leading Bitcoin miner, matching the hashrate of MARA, the largest US miner.
Senator Cynthia Lummis Predicts 2025 for Crypto: US Senator Cynthia Lummis forecasts 2025 as a pivotal year for Bitcoin and digital assets.

- Spot Bitcoin and Ethereum Combo ETFs Approved: The SEC greenlights the first spot Bitcoin and Ethereum combo ETFs, introduced by Hashdex and Franklin Templeton.

- Binance.US Eyes USD Services Return: Binance.US plans to resume USD services by early 2025, citing anticipated easing of US crypto regulations.

- Deribit Partners with Paxos for $PAXG Trading: Deribit collaborates with Paxos to enable trading for Pax Gold ($PAXG), an ERC-20 token backed by physical gold stored in a London LBMA-certified vault.