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Galaxy Digital Executive Says ‘Reasonable’ To Look at Bitcoin To Replace US Dollar in Future One of Galaxy Digital’s top executives says that the US government may be forced to look at Bitcoin (BTC) as a potential replacement for the US dollar in the future. In a new interview with Bloomberg Television, Galaxy Digital’s head of firmwide research Alex Thorn comments on the potential for the US to launch a Bitcoin strategic reserve (BSR), saying it should be “fairly straightforward.” Thorn notes that virtually all fiat currencies have ultimately failed, making it “reasonable” for the US government to start looking at alternatives.

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Coinbase CEO Brian Armstrong is reportedly set to hold a private meeting with President-elect Donald Trump to discuss key personnel appointments. According to the Wall Street Journal, Trump’s transition team facilitated the meeting. It could potentially shape decisions on critical roles that impact the crypto industry, including the Treasury Secretary and the chair of the Securities and Exchange Commission (SEC).

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The Office of the Comptroller of the Currency (OCC) announced it was preparing to launch options trading on the Bitcoin ETF, two days after CFTC approval. These trades should go live in the next day or two. The SEC first gave its own approval in September, but these developments clear all remaining regulatory hurdles. Bitcoin Spot ETF Options Trading According to ETF Analyst Eric Balchunas, the OCC hasn’t confirmed the exact launch date for Bitcoin ETF options, but it’s now a matter of when not if. Following this statement, Alison Hennessy, NASDAQ’s Head of ETP Listings, stated that this development will happen soon, potentially this week.

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Only 0.2% of all 2024 NFT collections delivered profits, and even among active collections, only 11.9% have been profitable. A recent analysis has revealed that the non-fungible token (NFT) market struggled in 2024, with untimely price drops and several failed projects. Dubbed “State of 2024 NFT Drops,” the study found that in 2024, a monthly average of 3,635 NFT collections were created in what it considered to be market oversaturation. According to the report, 98% of NFT drops were unprofitable and have not registered any trading activity since September. Additionally, the prices of the tokens also reportedly fell by at least 50% within the first three days of their launch.

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XRP Price Skyrockets Past $1 as SEC Faces Legal Troubles And Favorable Regulatory Shift Looms The price surge is consistent with the recent bullish positioning in the options market. XRP surged past the $1 mark Saturday, hitting a three-year high amid the U.S. Securities and Exchange Commission's mounting legal troubles. The payments-focused cryptocurrency surged over 27%, reaching a high of $1.27 at one point, a level last seen in November 2021, CoinDesk data show. Prices have nearly doubled this week, boosting the market capitalization to $63.59 billion.

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Crypto exchange Binance has announced that it will list Degen (DEGEN), the meme coin developed on Coinbase layer-2 network Base, today. Following the disclosure, DEGEN’s price soared by 50%, currently trading at $0.29. When launched, the DEGEN Binance listing will be the first Base meme coin on Binance. Here is what could happen to the cryptocurrency in the short term. Binance to List Degen on Its Futures Market According to Binance, DEGEN will become available for trading at 11.30 UTC today. The exchange also noted that its users will be able to trade the token with up to 75x leverage. Interestingly, the Degen Binance listing is one of the series of meme coins that it has listed recently. As DEGEN’s price soared, so did its trading volume. According to Santiment, the meme coin’s value climbed by 131% within minutes.

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Make NEged Great Again! [$NEGA]

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Satoshi Nakamoto’s Bitcoin holdings have surpassed $100 billion, placing the anonymous creator among the world’s top 20 wealthiest individuals if they are still alive and a single person. According to data from Timechainindex, the Patoshi wallets, associated with early Bitcoin mining from 2009 to 2010, are likely to be Satoshi and contain over 1.12 million BTC. With Bitcoin’s recent surge to $93,400, these holdings now rival fortunes on the Forbes Rich List.

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Polymarket CEO's Home Is Raided by FBI Federal law enforcement officials raided the home of Polymarket CEO Shayne Coplan on Wednesday. The prediction market was a breakout success in the U.S. presidential election, a platform where billions of dollars worth of bets were placed on the outcome. Polymarket traders viewed Donald Trump as the likely winner, as indeed he was.

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The crypto market has surged to a staggering $3.1 trillion, nearly matching France’s GDP. On November 12, Bitcoin led the charge, jumping nearly 25% in one week. This makes the crypto market the eighth-largest economy worldwide, behind the economic powerhouses of the US, China, and Germany. According to the International Monetary Fund, it would rank inside the top ten, positioned between France ($3.17 trillion) and Italy ($2.38 trillion). Leading the way in the top three are the United States ($29.17 trillion), China ($18.27 trillion) and Germany ($4.71 trillion), respectively.

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Update from $DEGEN chart

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Google searches for Bitcoin spiked once again as the cryptocurrency’s price and investor interest reached new highs. Google searches for Bitcoin have surged significantly as the cryptocurrency’s price hit yet another record high above $80,000 today. This surge in interest reflects growing global attention as Bitcoin continues to gain traction among retail and institutional investors alike.

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If degen can break through the resistance of 0.012, I think it can grow up to the price of 0.0255.

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Prediction markets like Polymarket can be more than just a platform to bet on elections. They can be a powerful tool with the “potential to create better implementations of social media, science, news, governance, and other fields,” Ethereum co-founder Vitalik Buterin wrote in his blog. Buterin calls this “info finance.” This is how he defines it: “…info finance is a discipline where you (i) start from a fact that you want to know, and then (ii) deliberately design a market to optimally elicit that information from market participants.” According to Buterin, Polymarket turned out to be a “very effective” source of information regarding the U.S. elections this week. Polymarket correctly predicted Trump’s win with 60/40 odds. But the platform also displayed that Trump had over a 95% chance of winning and over a 90% chance of gaining control of all branches of government even as some news sources tried to keep hope alive for vice president Kamala Harris.

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The decentralized prediction market Polymarket is said to be teasing a token airdrop that could potentially benefit users looking to redeem their winning bets with further rewards. This would mark a new chapter for the platform, which previously offered no guarantees on launching its own token but has since seen billions of dollars in trading volume derived from United States presidential election bets. "We predict future drops," said an image obtained by The Block that was purportedly shown to some traders who claimed their winnings on Polymarket. "Users who reinvest their winnings into other markets may be eligible for boosted future rewards and drops."

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Trump’s Crypto Aide Calls to Create Bitcoin Reserve Fast The victory of President-Elect Donald Trump at the polls has made the cryptocurrency community delve into the many bitcoin and crypto-related promises he made while still in the campaign. David Bailey, one of the aides to Trump’s campaign, has recently raised concerns about the necessity of quickly organizing a so-called ‘strategic’ bitcoin reserve, as other countries might adopt the idea and front-run the U.S. While not revolutionary—since countries like El Salvador and Bhutan have already established a bitcoin stockpiling strategy—this move would change the perception many have of Bitcoin, with a superpower like the U.S. designating it as a reserve asset.

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Claim 5 $DEGEN https://farcaster.snickerdoodle.com/v0/b52c218c-223c-4c37-8639-f9820b60ecd3

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In the first FOMC meeting after the November US presidential elections, the nation’s central bank cut the interest rates by 25 basis points, which was what the market and experts anticipated. Bitcoin’s price, which is typically very susceptible to US-related news, was already at all-time high levels of just shy of $77,000 and remained relatively still. It has been a big week for the world’s largest economy as the nation elected a new president on Tuesday, who presents an entirely different direction for the next four years.

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Uniswap's UNI Token Soars 28% as Altcoins Outperform Following U.S. Presidential Election. The largest gainer by a wide margin was Uniswap's (UNI), which was higher by 28% over the past 24 hours. Open interest (OI) for the token has soared by 20% in over the past day, according to Coinglass data and over 18 million UNI tokens ($169 million) are now in OI contracts, the highest amount since April 2024. OI in the past 24 hours alone has seen an increase of over 3 million UNI tokens worth over $60 million. The last time UNI saw such an aggressive increase in OI was back in April as prices were quickly falling.

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when will we know who won the US election? Well, that depends on how close things turn out to be. Four swing states – Arizona, Nevada, Pennsylvania and Wisconsin – have absentee ballot procedures that can require days to conclude. But if Harris has decisively won the other swing states, it is enough to declare her the victor. Any other result will take time.

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