Crypto Roundup 25 Dec: Crypto Prices Stay Stable on Christmas

The value of cryptocurrencies has fallen in the last 24 hours.

TOP 5 Losers Coins

Crypto News Key Highlights:

• BitMEX co-founder Arthur Hayes warns that successful spot Bitcoin ETFs could "completely destroy" Bitcoin by absorbing assets and limiting transactions, causing miners to lose incentives. Hayes envisions a potential demise of Bitcoin, paving the way for a new cryptocurrency network that aligns with Satoshi Nakamoto's original vision.

• MEXC, a cryptocurrency exchange, faces allegations of freezing users' accounts and seizing funds due to "abnormal trading activities." Traders complain of account restrictions since Dec. 16, with reported losses. MEXC's response cites their risk control system identifying irregularities and taking measures to recover losses, drawing scrutiny and discontent from affected users.

• Metallica's family investment firm, Black Squirrel Partners, participated in a $13.7 million Series A funding round for artist-to-fan platform Medallion. Led by former Songkick CEO Matt Jones, Medallion aims to strengthen artist-fan connections with white-label fan experiences. Metallica's investment follows two other notable ventures through Black Squirrel in 2023.

• JPMorgan Chase faces backlash as a customer alleges a $1,500 unauthorized spending spree on Uber. Despite clear evidence, Chase denies the claim, prompting Reddit community advice on filing a fraud case and complaints about rising fraud and account closure issues at large U.S. banks.

• A petition titled "Stop The Crypto Ban" by the Chamber of Digital Commerce aims to thwart the Digital Asset Anti-Money Laundering Act proposed by Sen. Elizabeth Warren. The petition, garnering nearly 10,000 signatures, voices concerns about the bill hindering innovation, impacting job prospects, and curbing the cryptocurrency sector's potential in the U.S. economy.

• As the festive season approaches, there's increasing anticipation that the upcoming Christmas holidays could bring about a surge in bullish sentiment across the cryptocurrency market.

• Bitcoin ETF approval could reshape retail investment in the cryptocurrency, potentially unlocking significant capital. Advocates see it simplifying access for investors, but opinions vary, with concerns about liquidity and potential state control. The SEC's January 10 decision deadline adds anticipation to the crypto community.

• Turkey's President Recep Tayyip Erdoğan appointed Professor Fatma Ozkul, a crypto assets and blockchain technology expert, to the central bank's Monetary Policy Committee. With a background in accounting and finance, Ozkul's expertise in blockchain technology aligns with Turkey's growing interest in cryptocurrencies. The country ranks fourth globally in crypto transaction volumes, and the government is considering regulatory measures for its crypto market.

Also read - 24 Crypto, 24 Dec: Crypto Holds Steady Amid Christmas Festivities