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🌙 Markets Struggle Post Congress Spending Bill

President Biden over the weekend signed Congress’s bipartisan spending package, narrowly avoiding a government shutdown and keeping federal operations funded through mid-March.

Author

Mike Gavela
December 23, 2024

Crypto Roundup - December 23

Recent developments in the financial and cryptocurrency sectors highlight significant market movements and technological advancements. U.S. stock markets have experienced volatility following Congress's passage of a stopgap spending bill, which narrowly averted a government shutdown but failed to raise the debt ceiling, contributing to market uncertainty. In the cryptocurrency arena, Crypto.com has launched a sports prediction market in the U.S., debuting with the upcoming Super Bowl, signaling the platform's expansion into sports-related crypto offerings. Additionally, Coinbase's Layer 2 blockchain, Base, has reported substantial growth, averaging 4.7 million new monthly users, indicating a significant increase in blockchain adoption.

Top Stories

  • U.S. stock markets have experienced volatility after Congress passed a stopgap spending bill without raising the debt ceiling.

  • Crypto.com launches sports prediction market in the U.S., starting with the Super Bowl.

  • Coinbase's Layer 2 blockchain, Base, averages 4.7 million new monthly users, indicating significant growth.

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VAULTCRAFT

VaultCraft launches V2, TVL skyrockets above $100M

VaultCraft launches V2, partners with Safe, and secures $100M+ in Bitcoin

  • Matrixport, Asia’s leading crypto providers, commits $100M+ in Bitcoin

  • OKX Web3 to launch Safe Smart Vaults with $250K+ in rewards

TOP STORIES

Stocks trade sideways after Congress passes stopgap spending bill

The eleventh-hour deal did little to calm markets, which have struggled to maintain their post-election momentum this month.

blockworks.co/news/stocks-trading-sideways-congress-spending

Crypto.com Launches Sports Prediction Market in US, Starting With Super Bowl - Decrypt

Crypto.com customers in the U.S. can now bet on sports events using various cryptocurrencies, starting with "The Big Game."

decrypt.co/298810/crypto-com-sports-prediction-market-super-bowl

Base Blows Up Averaging 4.7 Million New Monthly Users - "The Defiant"

Coinbase’s Layer 2 has soared past Ethereum, redefining “what exponential growth can look like,” according to blockchain analytics firm Flipside.

thedefiant.io/news/blockchains/base-blows-up-averaging-4-7-million-new-monthly-users

FUNDRAISING

Avalon Labs Raises $10M Series A to Grow Bitcoin-Backed Stablecoin

The Series A funding round was led by Framework Ventures and included contributions from UXTO Management, Presto Labs and Kenetic Capital

finance.yahoo.com/news/avalon-labs-raises-10m-series-141739575.html?prefer_reader_view=1&prefer_safari=1

OTHER HEADLINES

Are North Korean hackers liquidated on HyperLiquid planning something?

While some would like to see Lazarus Group’s ill-gotten gains go down the drain, others see the activity on HyperLiquid as a worrying sign.

protos.com/are-north-korean-hackers-liquidated-on-hyperliquid-planning-something

North Korean hackers’ $308m DMM Bitcoin heist ranked 2024′s biggest. AI will make attacks even worse

The biggest hacks this year were mostly due to private key leakage. Security experts warned that such attacks would happen. Investors lost $2.3 billion to crypto theft in 2024.

www.dlnews.com/articles/web3/ai-make-crypto-hacks-worse-as-investors-lost-23bn-in-2024

MoonPay to acquire Helio Pay for $150 million in its largest deal yet

MoonPay plans a $150M acquisition of Helio Pay, enhancing merchant services with solutions like Solana Pay and expanding its infrastructure.

cryptobriefing.com/moonpay-helio-acquisition-150-million

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