Eleonidas950

@eleonidas950

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“The conduct admitted to in these plea agreements is deeply disturbing and cannot be tolerated,” said US Attorney Martin Estrada. “I am grateful for the cooperation of Sheriff Robert Luna and the Los Angeles County Sheriff’s Department in working with our office to root out corruption and uphold civil rights.”

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Iza, who has been in federal custody since September 2024, could face up to 35 years in prison. Saavedra, who resigned from LASD, faces up to 13 years. Both are expected to appear in federal court in Los Angeles in the coming days.

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Both Iza and Saavedra also admitted to federal tax crimes. Iza allegedly evaded $6.7 million in taxes for 2021, while Saavedra failed to report $373,146 in income.

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Grayscale cited the warming US policy environment as a key factor. Trump has promised to appoint industry-friendly leaders to key regulatory agencies and make the US “the world’s crypto capital.”

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Others, including asset manager Grayscale, are similarly optimistic. In December, Grayscale added several decentralized finance (DeFi) applications, including two on Solana, to its list of the top 20 tokens to watch in the first quarter of 2025.

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The expansion of Hut 8’s BTC reserve continues a growing trend among institutions as the option to include BTC as a strategic financial portfolio asset becomes more attractive, particularly as the United States prepares for a pro-crypto administration under President-elect Donald Trump.

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While the exact reasons for SOL’s underperformance relative to the broader altcoin market remain unclear, some traders, including WazzCrypto, suggest that 'maximal extractable value' (MEV) is the primary factor behind the recent downturn.

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More concerning is the 63% drop in onchain volumes on the Solana network in the week ending Dec. 9, raising concerns about the sustainability of the recent price spike. However, it is important to note that this trend was not exclusive to Solana; Ethereum, BNB Chain, and Avalanche also saw similar declines.

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Japanese investment firm Metaplanet plans to raise over $62 million (9.5 billion Japanese yen) through a stock acquisition plan to purchase more Bitcoin for its treasury, which currently holds 1,142 Bitcoin worth over $109 million.

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“For altcoins to reach a new all-time high market capitalization, they will require a significant influx of fresh capital to crypto exchanges. The altcoin market cap below its previous ATH indicates reduced fresh liquidity from new exchange users,” he said.

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“Unlike crypto exchange users, institutional investors and ETF buyers have no intention of rotating their assets from Bitcoin to altcoins,” Ju said.

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Ju said this is due to institutional investors with little interest in speculative tokens driving the current Bitcoin rally.

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Still, CryptoQuant CEO Ki Young Ju recently told his 374,200 X followers not to expect the altcoin season to be the same as in previous cycles.

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Pseudonymous crypto trader Mikybull Crypto said in a Nov. 28 X post that “violent declines in Bitcoin dominance will begin next month.”

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“For me, it’s not a case of trying to pick the PICO top of Bitcoin dominance as to when the altcoin market is going to start coming down,” Hundal said.

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Hundal said that Bitcoin dominance might reach the 65% to 67% range, even “up to the 70%” range, before it starts to decline.

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Bitcoin dominance measures Bitcoin’s market capitalization as a percentage of the total crypto market.

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“These sorts of things become more possible when Bitcoin dominance is coming back to the downside.”

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Bitcoin retreated after failing to break the $100,000 milestone on Nov. 24, causing one of the largest weekend crypto liquidation events in over half a year.

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Over $470 million worth of crypto positions were liquidated over the last 24 hours. Long and short liquidations comprised $352.6 million and $119.9 million, respectively, with altcoins accounting for the vast majority of wiped positions, CoinGlass data shows.

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