A recent analysis suggests Ethereum may outperform Bitcoin at the onset of 2025, potentially igniting a wider altcoin surge within the Ethereum ecosystem. Meanwhile, U.S.-listed Bitcoin and Ether ETFs have collectively amassed $38.3 billion in net inflows for 2024, with BlackRock’s iShares Bitcoin Trust ETF leading with $37.31 billion.
In regulatory developments, the IRS has finalized rules mandating brokers, including front-end digital asset platforms, to report transaction data, set to be implemented in 2027. These regulations primarily focus on trading front-end service providers as brokers for tax disclosure purposes.
Animoca Brands has confirmed that its co-founder Yat Siu’s X account was compromised in a phishing incident, promoting a fraudulent token, amidst a string of similar crypto hacks. Investigations indicate a common perpetrator, with these exploits resulting in substantial financial losses.
MicroStrategy is preparing to expand its share issuance plan to facilitate further Bitcoin acquisitions, seeking shareholder approval to increase authorized shares significantly. This move aligns with the company’s strategic investment in Bitcoin.
Cryptocurrency hackers have been increasingly active, stealing over $2.3 billion in 2024, a 40% rise from the previous year, largely driven by Bitcoin’s valuation exceeding $100,000. Security incidents have totaled 165, reflecting ongoing vulnerabilities within the Web3 ecosystem.
The largest cryptocurrencies showed varied performance, with Bitcoin valued at $94,337, Ether at $3,317, and XRP at $2.14. Among altcoins, Bitget Token, Virtuals Protocol, and GateToken emerged as top gainers, while Ethena, Ondo, and Aptos experienced notable declines.
Noteworthy quotes this week included insights on advancing Bitcoin’s security against quantum computing threats, the potential for digital asset policies to bolster the U.S. dollar, and the strategic value of cryptocurrency reserves for national economies.
Predictions for the coming weeks suggest Ethereum may rise against Bitcoin in January, possibly due to Bitcoin seeing outflows, leading to a strengthened altcoin market particularly within Ethereum’s sphere.
On the legal front, Montenegro’s justice ministry approved the extradition of Terraform Labs co-founder Do Kwon to the U.S., following a legal tussle involving competing extradition requests from South Korea. Regulatory clarity remains a challenge for stablecoins like Tether’s USDt, amid the EU’s imminent crypto regulatory changes.
In a unique case, an IT engineer is entangled in a legal battle to retrieve a hard drive holding Bitcoin now valued at $773 million, mistakenly discarded in 2013, highlighting complex legal and environmental considerations surrounding cryptocurrency asset recovery.
