The Daily: Crypto prices plunge in South Korea as President declares martial law, XRP Ledger reduces account reserve to 1 XRP and more
2024-12-04

Happy Tuesday! In today's Daily, crypto prices tumble in South Korea as President Yoon Suk-yeol declares martial law, XRP Ledger developers reduce the base reserve for accounts amid XRP's price surge, BlackRock's spot Bitcoin ETF surpasses 500,000 BTC in AUM and more.
Meanwhile, bitcoin exchange reserves drop to their lowest levels in years, according to CryptoQuant.
Let's get started.
Crypto prices tumble in South Korea as President declares martial law
President Yoon Suk-yeol declared emergency martial law Tuesday night at around 10:30 p.m. local time, triggering cryptocurrencies to plunge on Upbit, Bithumb and Coinone, the country's most widely used exchanges.
XRP Ledger developers lower base reserve for accounts by 90%
XRP Ledger developers have reduced the base reserve for accounts by 90% from 10 XRP to 1 XRP amid a surge in the price of the cryptocurrency.
BlackRock's spot Bitcoin ETF surpasses half a million BTC in assets
BlackRock's IBIT spot Bitcoin ETF has surpassed half a million BTC ($48 billion) in assets under management — less than a year after trading began.
Coinbase CEO says he will not work with law firms that hire crypto-hostile former SEC staff
Coinbase CEO Brian Armstrong said the crypto exchange will not work with law firms hiring former SEC staff deemed hostile to the industry.
Pump.fun hits monthly revenue all-time high
Solana-based memecoin launcher Pump.fun hit a record monthly revenue of $93 million in November, according to DeFiLlama data — a 207% increase from October's all-time high of $30.5 million.
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