Crypto recap | Wen $ 100K BTC ? 
2024-11-22

Crypto Weekly: ETFs, Meme Coins, and RFK’s Bitcoin Obsession 

 We’ve had a wild week in crypto, so let’s dive into what’s happened so far 

1. Bitcoin Reaches Record $99,000 , Should We Sell Our Kidneys Now?
Bitcoin momentarily climbed to an all time high of $99,000. Its current value stands at $98,400, reflecting a 1.5% increase over the past 24 hours and YES over 500% since our first call

2. SEC Chair Gary Gensler to Resign in January 2025
The US Securities and Exchange Commission has announced that its Chairman, Gary Gensler, will step down on January 20, 2025.

3. Former Chinese Official Yao Qian Dismissed Over Crypto Bribery Allegations 
Yao Qian, exDirector at the China Securities Regulatory Commission, has been expelled from the Communist Party and removed from office for serious misconduct, including abuse of power and crypto-related bribery. Once a key figure in China’s CBDC development, Yao is now under investigation by the Shanwei City Procuratorate for alleged violations, with his assets confiscated.

4. Bitcoin ETF Options Prepare for Launch
The SEC approved trading options for the iShares Bitcoin Trust in September 2024. Following a recent advisory from the CFTC, the Options Clearing Corporation (OCC) is set to facilitate these options, which will debut on November 19, 2024.

5. Trump Administration Eyes Crypto Policy Role  
The Trump team is exploring the creation of a White House role dedicated to cryptocurrency policy. President-elect Trump is also scheduled to meet Coinbase CEO Brian Armstrong to discuss potential appointments. Discussions may include Armstrong’s support for SEC Commissioner Hester Peirce as SEC Chair.

6. Robert F. Kennedy Jr. Goes “All-In” on Bitcoin
Robert F. Kennedy Jr. revealed that most of his wealth is now in Bitcoin, declaring his strong commitment to the cryptocurrency. He has previously referred to Bitcoin as a “freedom currency” and a hedge against inflation.

7. Binance CEO Predicts Nations Will Compete for Bitcoin Reserves 
Binance CEO CZ praised Michael Saylor's advocacy for Bitcoin and predicted that countries would soon race to acquire Bitcoin as a strategic reserve asset.

8. Polish Presidential Candidate Promises Bitcoin Reserves
Sławomir Mentzen, a Polish presidential hopeful, has pledged to establish national Bitcoin reserves if elected. Mentzen, an early Bitcoin investor, disclosed holding approximately $1.2 million worth of Bitcoin.

9. MicroStrategy Acquires Additional 51,780 BTC
MicroStrategy now owns 331,200 BTC, acquired at an average cost of $49,874 per Bitcoin. Its recent purchase of 51,780 BTC totaled $4.6 billion, averaging $88,627 per Bitcoin.

10. Meme Tokens Dominate Crypto Market Buzz
The meme token "Quant," created during a livestream, sparked controversy after a pump-and-dump scheme. Other meme coins, such as ANON and FLOKI, also gained traction, with Ethereum co-founder Vitalik Buterin purchasing ANON. Meanwhile, DWF Labs launched a $20 million fund for meme projects, and exchanges like Coinbase and Binance actively listed meme tokens.

Fundraising Highlights  
- Rise: Secured $6.3M in Series A funding.  
- Deblock: Raised $16.8M in seed funding.  
- Shinami: Completed a $5.645M seed round.  
- Valantis Labs: Gained $7.5M in funding.  
- OpenLayer: Secured $5M in seed funding.  
- Barter: Raised $3M for DeFi liquidity solutions.  
- Noble: Completed a $15M Series A funding.  
- Bitfinity Network: Secured $12M for Bitcoin Layer 2 development.  
- Alluvial: Raised $4.3M for its Liquid Collective platform.  

 Dont miss this crypto cycle, opportunities like these don’t come around often! 
