🚀 Crypto Market Overview: Positive Momentum Continues! 🚀

As of December 28, 2024, the cryptocurrency market is seeing a positive trend with major tokens gaining momentum. Here's the latest:

📊 Market Highlights:

Bitcoin (BTC): $94,868 (+1.05%)

Ethereum (ETH): $3,393.16 (+1.94%)

BNB: $724.46 (+4.93%)

Cardano (ADA): $0.89 (+1.73%)

Solana (SOL): $193.70 (+4.52%)

These strong gains reflect continued interest and institutional adoption in the crypto space.

🌍 Key Developments Impacting Crypto Today:

📈 Institutional Adoption Rises: Major Wall Street banks, including Barclays, Citigroup, Goldman Sachs, and JPMorgan, are now underwriting significant deals in the crypto market. With the total crypto market in 2024 valued at $13 billion, institutional support continues to grow, signaling broader acceptance of cryptocurrencies as an asset class.

💼 Regulatory Changes Impact DeFi: The U.S. IRS has expanded the definition of "broker" under the 2021 Infrastructure Investment and Jobs Act to include non-custodial wallets and decentralized platforms. This means "digital asset middlemen" like smart contracts now face new reporting requirements. While these regulations aim to close tax loopholes, DeFi platforms may face challenges in ensuring compliance without sacrificing decentralization principles. This regulatory shift could reshape how decentralized finance operates in the future.

Legal News - Do Kwon’s Extradition: Do Kwon, co-founder of Terraform Labs, will be extradited to the U.S. to face fraud charges linked to the collapse of TerraUSD and Luna. The fallout from the $40 billion loss continues to have a ripple effect on the crypto industry, with ongoing legal battles drawing attention to regulatory and legal challenges faced by crypto entrepreneurs.

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