🗞 Daily Crypto News & Video, December, 25th💰

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

Merry Christmas to you all! No time for a Daily Video. See you next Monday !

🗞 Market Wrap: Bitcoin Stays in Tight Range but Gains Dominance as XRP Crumbles

Bitcoin (BTC) traded around $23,310 as of 19:00 UTC (2 p.m. ET), slipping 1.3% over the previous 24 hours.

Bitcoin’s 24-hour range: $22,644.56 - $23,672.82 (CoinDesk 20)

Derivatives market hints at more volatility ahead.

With XRP’s sell-off, bitcoin’s dominance of the crypto market increases.

“Bitcoin is digesting its gains in a consolidation phase after having confirmed its breakout to new all-time highs with its mid-month push higher,” said Stockton. “Former resistance near $19,500 is now initial support. Overbought conditions have not had an impact on momentum,” she said, though that is “perhaps more likely in January, which appears prone to risk-off positioning as it pertains to other asset classes.”

“We will witness the largest expiry in Deribit’s history tomorrow [Dec. 25] as 86,000 option contracts will expire with a notional value of over $2 billion,” said Luuk Strijers, chief commercial officer at Deribit, the world’s largest bitcoin options exchange. About 35% of all options on the exchange will expire Friday, leading them to expect some volatility on Christmas Day.

On the heels of XRP’s troubles, bitcoin’s share of the total crypto market has increased to nearly 69% from 65% in just the past week, according to data compiled by CoinMarketCap.

For those tracking decentralized finance, the amount of ether locked in DeFi contacts remains just shy of 7.3 million ($4.3 billion worth), according to data site DeFi Pulse.

🗞 Coinbase, Other Big Exchanges ‘Between Rock and a Hard Place’ on Delisting XRP

What happens when a cryptocurrency once positioned as a regulator-friendly alternative to bitcoin gets heat from regulators? Exchanges that trade XRP are about to find out.

U.S.-based cryptocurrency exchanges have to consider whether to delist XRP in light of a Securities and Exchange Commission (SEC) lawsuit alleging it is an unregistered security issued by Ripple Labs to raise funds.

Chief among these exchanges is Coinbase, which, in addition to the normal considerations around listing XRP, is also seeking SEC approval to take its shares public and allow retail investors to trade them. If the SEC prevails in its lawsuit, XRP may be classified as a security, meaning under U.S. law entities offering it for trading must register as securities exchanges.

“They can continue to list XRP based on their previous analysis that XRP is not a security, with the hope that a court will find that XRP is not a security,” he said. “Or they can take ‘remedial’ actions such as restricting trading for wallets held by U.S. persons, or take it off their exchange altogether.”

Exchanges like Coinbase would “be crazy not to consider” delisting, said Gabriel Shapiro, an attorney with Belcher, Smolen & Van Loo LLP. Considering the question isn’t the same as actually delisting – or not delisting – the cryptocurrency, however.

What might happen

Coinbase in particular is in a unique position due to its impending initial public offering (IPO) or direct listing. It has already confidentiality filed its S-1, a form companies use to register their shares as securities. The SEC can provide feedback to the company about how it views potential risk factors or other aspects of its operations.

[🗞 Biden and Yellen will crack down on crypto 'criminal cesspool' — Nouriel Roubini](Biden and Yellen will crack down on crypto 'criminal cesspool' — Nouriel Roubini)

Roubini to pro-Bitcoin lawyer: "You are delusional"

Roubini was responding to Jake Chervinsky, a lawyer studying the fallout from the recent news that U.S. lawmakers were demanding that stablecoin payments implement on-chain Anti-Money Laundering and Know-Your-Customer (AML/KYC) identification processes.

Chervinsky argued that the idea currently had "exactly zero chance" of becoming an enforceable law. Rather, it represented the "personal views" of Steven Mnuchin, the Treasury Secretary under Trump soon to be replaced by Biden's pick, Janet Yellen.

"You are delusional," a visibly irate Roubini retorted.

"Biden's team, starting with Yellen who was my boss at CEA, will crack down on this criminal tax evading & AML-KYC-TFC-evading crypto/shitcoins cesspool much more than Mnuchin. Get a life as you have become a crypto hired gun cheerleader/enabler."

🗞 BitGo and Grayscale Both Hold $16 Billion in Crypto

Bitcoin under custody is growing amidst increasing interest from institutional investors.

Both BitGo and Grayscale now hold $16 billion worth of cryptocurrency assets under custody.

Interest from institutional investors was sparked when Michael Saylor announced MicroStrategy's first Bitcoin investment in the summer.

Digital assets company BitGo now holds $16 billion in digital assets under custody, it announced yesterday. One other company also reached the same figure a day later: Grayscale, which invests crypto-assets for its publicly-traded trusts.

According to bybt.com, a website that tracks Grayscale holdings, Grayscale Investment Holdings now holds $16 billion worth of assets under management.

What’s more, the Trust holds almost 550,000 ($13.91 billion) Bitcoin in total, which represents about 70% of the total Bitcoin held by publicly traded companies according to Bitcoin Treasuries.

🗞 Daily Crypto Calendar, December, 25th💰

SparkPoint (SRK)

"SFUEL Airdrop Distribution."
Launch of SRK-BNB Liquidity Staking on Binance Smart Chain.

MesChain (MES)

"500 Million mes tokens will be burned on December 25. Until 01.02.2021. At certain intervals, 300 million coins will be bought back..."

Veros (VRS)

"Exchange Deployment and Launch in closed test mode | VEROS.eu | CRYPTOCURRENCY EXCHANGES | NEW GENERATION! December 25, 2020."

XIO (XIO)

"Super Secret Christmas Day Announcement for citizens"

Binance Coin (BNB), Bitcoin (BTC), Bitcoin Cash (BCH), Cardano (ADA), Chainlink (LINK), Ethereum (ETH), Litecoin (LTC), Polkadot (DOT), XRP (XRP)

"Binance Futures will list BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT and LTC Coin-margined Quarterly 0625 Contracts within the next few hours"

DeFiPie (PIE), DuckDaoDime (DDIM)

"@Defipiepie wants to celebrate the upcoming mainnet launch on 25th of December and for that farmdrops 80k $PIE tokens to all Duck Farmers."

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