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Davis made the remarks during an interview with YouTube investigator Stephen Findeisen, better known as “Coffeezilla,” where he defended the Libra token’s collapse as a failure rather than a scam.
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Davis, founder of the controversial Libra (LIBRA) memecoin project, claimed that complaints about memecoin trading stem from investors frustrated over not being part of insider deals.
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The payments will also have to include a “rationale” which was previously “left blank,” while Musk also pushed for the “DO-NOT-PAY list of entities” to be updated on a weekly or daily basis instead of the current yearly updates.
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The first such criteria will require that all government payments have a payment categorization code, which was “frequently left blank, making audits almost impossible.”
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Crypto has become a lucrative business for the German stock exchange Boerse Stuttgart, which reported a significant revenue boost from digital asset trading services.
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Tether has denied any wrongdoing, claiming that it abided by its contractual rights under the joint venture agreement.
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Despite the fall, USDT stablecoin dominance still sits above 65% in what has become a $210 billion market.
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A highlight of the year was when the Central Bank of the UAE (CBUAE) introduced the Payment Token Services Regulation via Circular No. 2/2024 in June 2024, regulating the issuance of stablecoins. Moreover, after a 12-month grace period, businesses in the UAE will only be allowed to accept crypto payments in dirham-backed stablecoins issued by CBUAE-approved entities.
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Some users confirmed they had seen the crypto ads on Alipay, predicting that “the next step is to buy Bitcoin directly with Alipay.”
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The first reports on Alipay featuring crypto-related ads surfaced on Dec. 11, with local blockchain outlet ChainCatcher breaking the news, citing community reports.
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“It indirectly invested in Coinbase stock and Ark spot Bitcoin ETF by investing in Wood Sister’s fund. In addition, Huabao Technology and many similar QDIIs advertise cryptocurrency on Alipay,” Wu noted in another post on X.
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Colin Wu, a prominent local market observer, said on X that mainland China users are currently limited to purchasing a maximum of 1,000 Chinese yuan ($137) of the fund’s shares daily. The minimum investment is 10 yuan, or $1.40.
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Industry executives and analysts have been celebrating Bitcoin’s “$100K Day” with Coinbase CEO Brian Armstrong saying, “If you bought $100 of Bitcoin when Coinbase was founded in June 2012, it would now be worth about $1,500,000.”
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There were $132 million in short position liquidations over the past four hours, according to CoinGlass.
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Social sentiment has also surged, with Google Trends reporting Dec. 5 saw the biggest spike in searches for Bitcoin in the last week.
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The Bitcoin Fear & Greed Index, which analyzes market sentiment, is currently at an “extreme greed” level of 84. It spiked to 94 — its highest level since December 2020 — on Nov. 22, when Bitcoin hit an all-time high of $99,000.
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“Almost like BTC was jealous that altcoins were getting all the attention and wanted to remind everyone it’s still king,” said analyst Income Sharks in a Dec. 5 post on X.
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Bitcoin’s market share had slid 11.5% from a three-and-a-half-year high of 61.8% on Nov. 21 to bottom out at 54.7% on Dec. 4 before its rebound.
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Bitcoin dominance — a measure of how much of the crypto market’s total value belongs to BTC — has rebounded as the asset hit a six-figure all-time high on Dec. 5, while most altcoins failed to shadow its gains.
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“It represents that the world is gradually acknowledging Bitcoin as the reserve currency of the future,” Held said.
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