✨ US Crypto Policy Gets Christmas Miracle
Also: Bitcoin doesn’t kill the planet: here’s the proof
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GM. Welcome to the Daily Squeeze, where the only unfortunate thing about Friday the 13th is if you miss out on these juicy morsels of cryptocurrency.
💼 French Hill has been chosen to lead the Financial Services Committee.
🌱 David Batten exposes the source of all the misinformation about Bitcoin’s environmental impact.
🍋 News Drops: Solana Ecosystem Welcomed More Developers Than Ethereum, Investor Charged for Failing to Report Crypto Capital Gains, and More
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🍍 Taste of the market today
The cryptocurrency market is giving an impression of cool boy leaning against the wallacting all nonchalant and mysterious like he’s hiding something 🥸 Today’s fear and greed index dropped a bit to 76, although it’s still high on the greed side.
bitcoin It is still close to that $100,000 line, even reaching $102,237 for a moment. This increase occurred after Donald Trump rang the opening bell at the New York Stock Exchange and doubled down on his promise to make crypto big in the US and create a strategic Bitcoin reserve.
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Altcoins didn’t want to miss out on the excitement either:
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GHOST and LINK they got some extra love after they landed on the shopping list of Trump’s DeFi platform, WLFI;
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AVAX benefited from a $250 million investment led by big dogs: Galaxy, Dragonfly and ParaFi Capital.
Ethereum neither sitting picking daisies. Spot ETFs have been accumulating ETH since July, now with a record of 3.4 million ETH after $234 million in new entries yesterday alone.
Network activity is increasing, transactions and smart contract calls are reaching new highs, which means more ETH burned in fees and a tighter supply. If demand remains stable, the ETH target of $5,000 might not be far away.
So, yes, whatever the market is doing, it keeps its cards close to the chest. Maybe tomorrow will let us know the secret… or maybe he just likes to keep us guessing 😏
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🥝 Harvest of memecoins
When life gives you lemons, memecoins turn them into Lambos (sometimes) 🏎 Check out today’s best moonshots:
The coldest seal in Solana, they say.
Yet another AI project, but this one has four agents running on real computers, transmitting their thoughts 24/7. The bomb was started after The tank fell – a new open source tool that allows any agent to unlock full computer access 🤖
What even is A top list without a Pepe of some kind?
Solana’s bad boy, they say.
Data as of 09:30 am EST.
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✨ Hill graces cryptocurrency rooms
When you’re decorating for Christmas, the excitement doesn’t come suddenly.
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You start with the tree, something sad and bare.
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Then the lights come on; okay, better, there’s still something missing.
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Add embellishments – oh yeah, we’re getting to that point.
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You place the top of the tree; the butterflies in your stomach are starting to go mad.
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Finally, turning on the lights… OH MY GOD, IT’S ALL SO MAGICAL, I WANT TO CRY 🎄
Well, the United States is doing pretty much the same thing: building a pro-crypto tree in the new administration. And each new addition becomes more and more emotional.
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The last decoration? House Republicans elected Rep. French Hill to Head Financial Services Committee. And I don’t want to throw pronouns into this, but he is HE. Here’s a TL;DR:
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He already chairs the committee’s digital assets panel;
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He co-sponsored major pro-cryptocurrency bills such as FIT21 (creating clear rules for cryptocurrency companies) and the CBDC State Anti-Surveillance Law (fighting government oversight of digital currencies);
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He is pro-DeFi and says it can revolutionize financial markets.
The Financial Services Committee oversees the Federal Reserve, the SEC, the CFTC, Wall Street regulations, and crypto policy. So someone pro-crypto in the lead means There is finally an opportunity to set smart, forward-thinking rules for the industry..
The top of the tree is in place. Now we have to wait for a pro-crypto CFTC chairmanship to arrive and the Christmas magic to officially activate 🎅
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If you’ve ever argued with a cryptocurrency hater, you’ve probably heard the classic “it’s a scam” line (these are the people who heard the word crypto once on television). But the anti-crypto elite, if you like, prefer to drop this bomb:
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Well, Bitcoin environmentalist. Daniel Batten said, “Enough of this nonsense.”
Traced the source of all the bad science about Bitcoin’s environmental impact. It turns out that everything leads to a single comment written by Alex de Vriesfounder of Digiconomist.
De Vries used the “Energy usage per transaction” method claim that Bitcoin was an environmental disaster. The trick? That metric is totally wrong since Bitcoin’s energy use does not come from its transactions.
Batten noted that this method has been discredited four times in academic journalsand all of De Vries’s work has been shredded into another.
The mainstream media has begun to abandon the Bitcoin kills the planet narrative. In fact, some outlets now cover their environmental benefits, such as help stabilize energy grids, reduce energy costs and accelerate the transition to renewable energy.
But the problem is that years of misinformation fooled everyone from investment committees to regulatorswhich means there are still There is a lot of re-education to be done..
So the next time that cryptocurrency hater tries to lecture you, ask him for his source. If it’s De Vries, tell them what you just learned.
But let’s be real – the answer will probably be, “uhmm ackshually… 🤓☝️ I don’t know.” In that case, smile, nod, and walk away. Some battles just aren’t worth it.
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🍋 News falls
🧑💻 For the first time since 2016, the Solana ecosystem welcomed more new developers than Ethereum. That said, Ethereum still holds the global crown in terms of total developer activity.
📄 A Texas Bitcoin investor has become the first person to face criminal charges for failing to report crypto capital gains. In 2015, he bought 1.3 thousand BTC for about $500 each and then cashed out in 2017 for $3.7 million.
📖 Hedera launched its dynamic address book, giving node operators more control and simplifying network management. By pushing updates directly to the core network, operators can automate the process, reduce manual work, and move closer to a fully permissionless network.
🌟 Forbes 30 Under 30 alum Casey Caruso raised $75 million to launch her early-stage venture company, Topology. Backers include Cendana Capital, Accolade Partners, an anonymous OpenAI founder, Marc Andreessen, Chris Dixon, and even Paris Hilton.
💸 After months of radio silence, today’s chain activity hints that WazirX could be preparing to reimburse victims. Earlier this year, the exchange took a $230 million hit in an alleged hack by the Lazarus Group.
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🍌 Juicy memes
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