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Coindoo
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Floki Expands Presence in UAE as Sponsor of the 2024 World Tennis League
- Floki is set to sponsor the 2024 World Tennis League (WTL) in Abu Dhabi.
- The tournament features top-ranked athletes and a mixed-gender exhibition format.
- Floki's branding will be displayed throughout the tournament, reaching millions of viewers.
- The WTL combines elite-level tennis with live music performances by renowned artists.
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Coinjournal
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FTX to begin customer repayments in early 2025
- FTX will begin customer distributions in January in January 2025.
- FTX debtors will commence customer distribution in early January, with its court-approved Chapter 11 bankruptcy reorganization becoming effective on January 3, 2025.
- FTX will work with crypto custodian BitGo and crypto exchange Kraken to distribute assets to retail and institutional customers.
- FTX collapsed in November 2022, with five of the top executives jailed or sentenced to time served.
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Zycrypto
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Vana Announces Launch of its Mainnet and Native $VANA Token
- Vana mainnet has gone live, and its native token, $VANA, powers the network.
- The network pioneers user-owned data as a new asset class and enables users to own their data and choose to allow its use for AI model training.
- During the testnet phase, over 1.3 million users contributed over 6.5m data points to DataDAOs and processed approximately 1.7 million transactions daily.
- Vana mainnet offers notable features like trustless validation, granular permissioning, onchain data provenance, data liquidity pools, and $VANA staking.
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Financemagnates
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FTX to Distribute Funds to Investors Through Kraken and BitGo, Process to Start in January
- Cryptocurrency exchange FTX will start distributing funds to investors through partner crypto firms Kraken and BitGo.
- FTX's court-approved Plan of Reorganization will become effective on January 3, 2025.
- The first wave of distributions is expected within 60 days of the effective date.
- FTX has chosen Kraken and BitGo as distribution partners to ensure security and trust in the process.
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Bitcoinmagazine
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Will Bitcoin ETFs Surpass 1 Million BTC Before 2025?
- Bitcoin Exchange-Traded Funds have already accumulated more than 936,830 BTC, raising the question: Will these holdings surpass 1 million BTC before 2025?
- Crossing the 1 million BTC threshold would indicate profound market maturity and long-term confidence in Bitcoin as a credible, institutional-grade asset.
- November 2024 saw record inflows into Bitcoin ETFs, surpassing $6.562 billion, more than the previous month’s figures.
- BlackRock’s Bitcoin ETF outpaced the company’s own iShares Gold Trust in total fund assets, validating Bitcoin’s emerging role as “digital gold”.
- Institutional buyers and long-term allocators acquire Bitcoin through ETFs and hold it for extended periods—years, if not decades. As this pattern continues, the Bitcoin held in ETFs becomes essentially removed from circulation.
- Only about 2.25 million BTC currently remain on exchanges, highlighting a persistent decline in readily available supply.
- These evolving dynamics have already propelled Bitcoin beyond the $100,000 milestone, and such achievements could soon feel like distant memories.
- Incoming President-elect Donald Trump in 2025 has expressed support for the “Bitcoin Act,” a proposed bill directing the Treasury to establish a Strategic Bitcoin Reserve.
- With ETFs continually accumulating, each major purchase may ignite a cascade of follow-on buying as investors fear missing out on the next leg up.
- The journey from today’s levels to a new era of Bitcoin price discovery involves more than just speculation. It’s supported by a tightening supply, unyielding demand, rising institutional acceptance, and even the potential imprimatur of the world’s largest economy.
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Bitcoinmagazine
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A Last Resort: Un'FE'd Covenants For Bitcoin
- Jeremy Rubin's proposal Un’FE’d Covenants offers a new practical option for covenant proposals in Bitcoin without requiring a softfork, unproven cryptography, or exorbitant monetary costs ColliderScript imposes.
- The proposal uses a system of oracles and BitVM based bonds to emulate covenants on Bitcoin, with the oracle entrusted with the enforcement of the covenant conditions.
- Oracles can be federated to minimize the trust required in a single party to enforce conditions, and users can load the resulting address and approach the oracles with the spending transaction, oracle program, and witness data to prove the transaction meets the covenant rules.
- A BitVM circuit can be constructed to verify whether a transaction signed by the oracle matches the conditions of the covenant being enforced, and oracles can be required to post a collateral bond with a BitVM operator.
- The proposal is trusted, with users giving their money to someone else to enforce the conditions of the covenant, but can be secured with a crypto-economic incentive rather than pure trust using OP_RETURN and a BitVM bond scheme.
- However, the trade-offs include requiring the oracle to be online and present to sign, massive liquidity requirements for oracle bonds if the system is widely adopted, and the extra data required to be posted on-chain, making it less efficient than native covenant implementation.
- Overall, the proposal offers a workable way to incorporate covenants into Bitcoin without depending on unproven cryptography or impractical costs, expanding the design space of what can be built on Bitcoin.
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Cryptopotato
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Image Credit: Cryptopotato
Vana Mainnet Goes Live with $VANA to Power Data as a New Asset Class in Global AI Economy
- Vana, the blockchain-powered network for user-owned data, has launched its mainnet and native $VANA token, aiming to break through the data wall that is limiting AI development while preserving privacy and giving users a stake in the value their data generates.
- The brainchild of Open Data Labs, the Vana platform is an EVM-compatible blockchain that allows users to maintain ownership and control over their personal data while enabling its use for AI model training via privacy-preserving technologies.
- Users however, can earn by contributing their data to DataDAOs via its proof-of-contribution system.
- The top DataDAOs also earn DataDAO rewards, while users can earn more tokens by running nodes, validating transactions, and staking to DataDAOs.
- With a total supply of 120 million tokens, $VANA will introduce governance over network parameters and data usage, and incentivise high-quality data submissions from data contributors.
- The mainnet launch comes at a crucial time when AI development faces increasing data scarcity, while users seek greater control over their digital footprint. It will enable individuals to participate in and benefit from the AI economy while maintaining sovereignty over their data.
- Users can start staking $VANA on Data Hub. Among the DataDAOs building on Vana are DNA DAO, addressing privacy concerns around genetic data ownership, and an expansion of the successful Reddit Data DAO, which has already demonstrated the potential of community-owned data pools.
- Vana lays the groundwork for a new kind of data economy – one where developers can finally access the cross-platform datasets required to create truly powerful AI.
- The mainnet launch marks a fundamental shift in how data is owned and monetized in the AI era.
- Today's digital economy, programmable data rights are the foundation that will help unlock the next generation of AI.
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Cryptoslate
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Ripple to begin global rollout of RLUSD stablecoin on Dec. 17
- Ripple will launch its US dollar-pegged stablecoin, Ripple USD (RLUSD), on Dec. 17 on the XRP Ledger and Ethereum.
- RLUSD tokens will be fully backed by US dollar deposits, government bonds, and cash equivalents, and monthly third-party attestations of reserves will be provided by Ripple.
- Initially, RLUSD will be available on Uphold, Bitso, MoonPay, Archax, and CoinMENA, with plans to expand to platforms like Bullish, Bitstamp, and Mercado Bitcoin.
- Ripple aims to position RLUSD for widespread adoption through partnerships with global exchanges, market makers, and payment providers.
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Financemagnates
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Bitcoin Miners Expand Holdings: Riot Platforms Finalizes Loan Deal for More BTC
- Bitcoin mining firm Riot Platforms has closed a $594.4 million offering of convertible senior notes to buy more Bitcoins.
- The private offering targets qualified institutional buyers and includes an initial purchaser option.
- Riot has allocated most of the proceeds to purchasing more Bitcoins, increasing its holdings to 17,429 BTC.
- The company aims to outpace competitors in the mining industry and has expanded its stake in Bitfarms.
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Cryptoticker
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Bitcoin Price Prediction: Can Bitcoin Reach $110,000 After Today's New ATH near $107K?
- Bitcoin (BTC) reached an all-time high (ATH) of $106,803, fueling optimism about crossing the $110,000 mark.
- President-elect Donald Trump's proposal for a U.S. strategic Bitcoin reserve contributes to the price surge and potential government adoption.
- Technical indicators and institutional interest support the outlook of BTC reaching $110,000 or higher.
- However, caution is advised due to the volatile nature of the crypto market and the possibility of retracements.
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Coindoo
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Image Credit: Coindoo
Vana mainnet goes live with $VANA to power data as a new asset class in global AI economy
- Vana, the user-owned data network, has launched its mainnet and $VANA token after a successful testnet phase.
- Chainwire reports over 1.3 million users contributed more than 6.5m data points to DataDAOs, processing 1.7 million transactions daily.
- Vana's EVM-compatible blockchain preserves data privacy while enabling its use for AI model training through programmable data ownership.
- DataDAOs will leverage $VANA to enable owners to monetize and govern their collective personal data for a stake in the cross-platform data sets powering AI growth.
- Blockchain provides inherently secure trustless validation through data ingress and trusted execution nodes, where users control their given permissions.
- $VANA's total supply of 120 million tokens enables data governance, network security, incentivized quality of contributed data and revenue sharing from data usage.
- The Vana ecosystem includes independent research company, Open Data Labs, whose CEO calls Vana's launch 'a fundamental shift in how data is owned and monetized in the AI era.'
- Discontent with the current private data trading model, Vana is empowering users to own a stake in their own data's worth and future technology creation.
- As AI hits a data wall and platforms monetise user data without sharing the benefits with users, Vana's permissioned, secure and incentivised approach offers users sovereignty and participation in data and AI growth.
- DNA DAO and an expansion of a Reddit Data DAO approach data contributions with privacy-related priorities and a community-owned data pool mindset on the Vana network.
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Financemagnates
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Image Credit: Financemagnates
Ripple RLUSD Stablecoin Integrates with XRP Ledger and ETH Blockchains
- Ripple USD (RLUSD), a stablecoin, integrates with XRP Ledger and ETH blockchains.
- RLUSD will be available on global exchanges starting from December 17, 2024.
- The stablecoin is designed for enterprise use and backed by USD deposits, government bonds, and cash equivalents.
- RLUSD aims to support global payments, cross-border settlements, liquidity access, and collateralization of real-world assets.
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Zycrypto
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Image Credit: Zycrypto
Ripple CTO Explains Why RLUSD Can Hit Whopping $1,200 At Launch, Warns Investors Not To “FOMO”
- Ripple CTO David Schwartz explains why RLUSD could initially trade at a high price, possibly $1,200.
- Schwartz mentions early supply bottlenecks and speculative enthusiasm as factors for the potential spike.
- He warns investors against seeing RLUSD as an opportunity for significant profits.
- Schwartz emphasizes that the primary purpose of a stablecoin is to maintain a stable price.
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Zycrypto
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Image Credit: Zycrypto
World-Renowned Bitcoin Bull MicroStrategy Expands Its Enormous Stockpile To 439,000 BTC After Securing Nasdaq-100 Addition
- MicroStrategy, a software firm and Bitcoin development company, has acquired $1.5 billion worth of Bitcoin, bringing their total holdings to 439,000 BTC.
- This follows their recent inclusion in the Nasdaq-100 Index, allowing index investors to gain exposure to Bitcoin.
- The average purchase price of MicroStrategy's Bitcoin is $61,725 per BTC, with the current value at $45.6 billion.
- MicroStrategy's stock price rose 3% on the news, and they are set to join the Nasdaq-100 Index on December 23.
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Zycrypto
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Image Credit: Zycrypto
‘See You On The Moon’ — Michael Saylor Says As Bitcoin Sets New Record High Above $106,000
- Bitcoin reaches new all-time high above $106,000.
- Speculation arises that President-elect Donald Trump may issue an executive order to make Bitcoin a reserve asset.
- Crypto-friendly senator proposed the Bitcoin Act of 2024 to accumulate 1 million Bitcoin.
- MicroStrategy's Michael Saylor shares bullish reaction to Bitcoin's price surge and reaffirms commitment to buying more.
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