adam98994mi

@adam98994mi

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Milei may now face the risk of impeachment after Argentina’s fintech chamber acknowledged that the case may be a rug pull.

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A cryptocurrency businessman and a Los Angeles County Sheriff’s Department (LASD) deputy have admitted to federal crimes, including conspiracy, civil rights violations, and tax evasion.

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Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

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Of the top 100, the Solana-based memecoin Fartcoin (FARTCOIN) rose over 58% as the week’s biggest gainer, followed by the XDC Network (XDC) token, up over 49% on the weekly chart.

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“Phishing was the most costly attack vector last year,” a CertiK spokesperson told Cointelegraph. “Our figures are conservative, the actual figure is higher when you consider unreported incidents and other types of phishing scams like pig butchering.”

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Su Zhu, co-founder of Three Arrows Capital, was the most notable proponent of the Supercycle Thesis from 2021, arguing that crypto markets would remain in a bull market without a sustained bear market, with Bitcoin eventually peaking at $5 million.

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In November, Tether officially announced the suspension of its euro-backed stablecoin, EURt (EURT), citing community interest. At the time, EURT’s market cap accounted for as low as 0.02% of the USDT’s market value.

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“The purchase, holding of BTC and continuous expansion of BTC reserves is an important strategy of the Group,” Boyaa said in a statement.

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Boyaa Interactive International now has 3,183 Bitcoin in its stash, worth $310.7 million at current prices, according to CoinGecko.

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Boyaa Interactive International, a Hong Kong-based holding company specializing in online card and board games, adjusted its treasury assets by replacing Ether with Bitcoin.

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Meanwhile, chief investment officer at crypto financial services firm Ledn, John Glover, told Cointelegraph that a larger correction could still be possible. However, it is also possible that momentum could continue to the $125,000 area, he said, before adding:

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He added that this was especially true during halving years when “the December returns were +6% in 2012, +31% in 2016, and +47% in 2020 — averaging a remarkable +28%.”

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“Historically, Bitcoin has averaged a +10% increase in December, with blockbuster performances in 2010, 2011, and 2020,” 10x Research founder and CEO Markus Thielen told Cointelegraph.

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Bitcoin reclaimed $98,000 during early trading on Dec. 2, but has retreated below $97,000 since, trading just 3.3% below its Nov. 22 all-time high of $99,645 at the time of writing. Analysts tell Cointelegraph there could be more to come in December.

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“The next months will have insane long opportunities,” he predicted. December has also been a bullish month for BTC historically.

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Capriole Fund founder Charles Edwards said: “Every cycle we get 4-7 months of insane Bitcoin price discovery returns,” adding that the first month occurred in November, which saw the asset surge 40% and break monthly candle records.

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Price discovery is a process that determines an asset’s fair market price through the interaction of buyers and sellers, and a new phase begins once it trades above all-time highs.

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“This isn’t a call for a correction — just manage your risk and avoid panic selling at local bottoms. We’re in a bull market,” Ju added.

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Ju highlighted that “such corrections repeatedly occurred” during the 2021 cycle when Bitcoin then surged from $17,000 to $64,000.

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CryptoQuant CEO and founder Ki Young Ju said in a Nov. 26 X post that even in a “parabolic bull run, Bitcoin can see -30% pullbacks.”

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