Crypto Industry Sees Major Developments Amid Record Bitcoin Highs and Regulatory Shifts

• Tether announces full API access for its Hadron RWA platform, enabling seamless integration for institutional investors by February.
• Nigerian EFCC arrests 792 suspects linked to cryptocurrency scams targeting North American and European victims in a major crackdown.
• Ethereum whale dominance hits record, with 104 wallets holding 57.35% of supply, sparking concerns over market volatility.

The cryptocurrency sector has witnessed a series of pivotal developments, ranging from record-breaking price surges to regulatory and technological advancements, marking a transformative moment for digital assets.

Bitcoin reached a new all-time high of $108,268, according to CoinMarketCap, following a 60% surge since the U.S. elections. The spike is attributed to President-elect Donald Trump’s pro-crypto stance, which has bolstered investor confidence in the market. Trump’s administration is expected to adopt more crypto-friendly policies, further driving institutional interest in digital assets.

JUST IN: @Kris Marszalek, CEO of @CryptoCom, met with the US president Donald J. Trump

What do you think they talked about? pic.twitter.com/M39RW8NMOD

— Build On Cronos (@buildoncronos) December 17, 2024

Adding to the regulatory shifts, CryptoCom CEO Kris Marszalek recently met with Trump to discuss future cryptocurrency policies. The company also announced the withdrawal of an SEC lawsuit, signaling a potential resolution of regulatory hurdles.

These developments suggest that the incoming administration may prioritize creating a favorable environment for crypto businesses.

Super excited for StablR investment!

Tether has become the tech infrastructure provider for European regulated stablecoins with Hadron by Tether @hadron_tether

Hadron is a platform-as-a-service built to tokenize any asset (stablecoins, stocks, bonds, funds, real-estate),… https://t.co/HzKiswUqjc

— Paolo Ardoino (@paoloardoino) December 17, 2024

On the technological front, Tether has announced that its Hadron tokenization platform will offer full API access by February. This upgrade aims to streamline integration for institutional investors, enabling seamless access to real-world asset (RWA) tokenization.

There are currently 104 whale wallets holding at least 100K Ethereum. Their combined holdings currently sit at 57.35% of all existing ETH tokens, currently worth ~$333.1B.

Meanwhile, wallets with 100-100K hold their lowest ratio of supply in history, 33.46%. And sub-100 ETH… pic.twitter.com/9qDN3lotQy

— Santiment (@santimentfeed) December 17, 2024

Meanwhile, Ethereum whale activity has reached record levels, with just 104 wallets controlling 57.35% of the total ETH supply. This concentration of wealth raises concerns about potential market manipulation and future price volatility. Analysts warn that such dominance could lead to sharp price movements, impacting retail investors.

Beyond market movements, global enforcement agencies are intensifying their focus on crypto-related crime. In Nigeria, the Economic and Financial Crimes Commission (EFCC) arrested 792 individuals involved in a cryptocurrency romance scam targeting victims in North America and Europe. This operation highlights the ongoing challenges in regulating and securing the crypto market.

Horizen $ZEN underwent its last halving before a major transition in the project’s tokenomics.

After this major milestone, there will be no more halvings, as the new model introduces a declining emission rate.

— Grayscale (@Grayscale) December 16, 2024

In other developments, Grayscale has launched its Horizen Trust, providing accredited investors exposure to ZEN without requiring direct purchase or custody of the cryptocurrency. This offering aligns with the increasing demand for regulated crypto investment vehicles.

#BREAKING: SoftBank CEO says his "confidence level" in the US economy has "tremendously increased with [Trump's] victory" – announces $100 BILLION investment.

"Because of that – I am committing $100 billion and 100,000 jobs into the United States. This is DOUBLE of last… pic.twitter.com/TsKHszXwMf

— Eric Daugherty (@EricLDaugh) December 16, 2024

Outside the crypto market, SoftBank CEO Masayoshi Son announced a $100 billion U.S. investment over the next four years, focusing on artificial intelligence and technology sectors. This is expected to create 100,000 jobs, underscoring the intersection of blockchain, AI, and tech innovation in shaping the future of global markets.

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