Key Points
- Cryptocurrency-focused hedge funds see 46% gains in November, outperforming the broader industry.
- Riot Platform secures $594.4 million investment, marking a significant capital raise in the Bitcoin ecosystem.
Bitcoin (BTC) reached an unprecedented high of over $108,000 on Dec. 17.
Hedge funds concentrating on cryptocurrency saw a 46% increase in November, pushing their 2024 returns to 76%, based on Hedge Fund Research data. This performance surpasses the wider hedge fund industry’s 10% gain for the year.
Huge Investment for Riot Platform
In the third week of December, Riot Platform received a $594.4 million investment. This investment is one of the most significant capital raises in the Bitcoin ecosystem this year.
Despite the volatility of cryptocurrency, the NFT market has shown strong performance, with total sales volume reaching $302.2 million, as per CryptoSlam data.
There was an unfortunate event where a trader attempted to front run the Pudgy Penguins crypto airdrop on Dec. 17. The investor’s initial $10,000 investment plummeted to less than $3 within minutes.
MicroStrategy Founder’s Bitcoin Proposal
Michael Saylor, founder of MicroStrategy, proposed the establishment of a strategic Bitcoin (BTC) reserve. He suggested that this could potentially generate $16-81 trillion for the U.S. Treasury to offset national debt.
Tether, a stablecoin issuer worth $140 billion, has announced its plans to venture into artificial intelligence by Q1 2025.
There was a security breach involving Vivek Ramaswamy’s account, with hackers posting false claims about a partnership.
Pi Network reported significant progress in KYC verification, with over 18 million pioneers completing the process as the project moves toward mainnet launch.
North Korean hackers reportedly stole $1.6 billion in cryptocurrency during 2024, a significant increase from $660.5 million in 2023.
Ripple’s RLUSD stablecoin is now live on major cryptocurrency exchanges following its December 16 announcement.
The Avalanche (AVAX) Foundation revealed its Avalanche9000 mainnet upgrade, promising over 90% reduction in deployment costs and C-Chain fees.