Bitcoin has made history by breaking the $100,000 mark, reaching a high of $103,900, and pushing the total market cap over $2 trillion. Meanwhile, Ether (ETH) has risen past $4,000, returning to levels not seen since March 2024.

At the same time, U.S. spot Bitcoin ETFs have now accumulated more Bitcoin than its creator, Satoshi Nakamoto, surpassing 1.1 million BTC since their launch in January. As of December 5, they hold about 1,103,965 BTC.

Last week was packed with exciting developments in the crypto world! Here are the key highlights you might have missed.

For transparent and decentralized crypto trading and to list your crypto token for free, visit our website and follow Melega Finance (@meleganews) on X for more on all things cryptocurrency.

TOP CRYPTO NEWS RECAP (December 1 - 7, 2024)

• Bitcoin Surpasses $100,000 Despite Weak Global Market Performance
• FCA Blocks Pump.fun in the UK Over Unauthorised Operations
• Lawrence Summers Criticizes Trump's Bitcoin Reserve Plan
• Bitcoin Reaches $2 Trillion Milestone in Less Than 16 Years
• Trump Nominates Paul Atkins as SEC Chair, Pledging Pro-Crypto Leadership
• Haliey Welch's Hawk Tuah Memecoin Plummets 90% Amid Controversy

Bitcoin Surpasses $100,000 Despite Weak Global Market Performance

Bitcoin reached the historic $100,000 milestone on December 6, defying sluggish momentum in global assets like oil, gold, and the S&P 500. While Bitcoin surged 32% in the past month, oil dropped 6.3%, and the S&P 500 and gold saw slight declines. This rally signals strong investor confidence, with analysts predicting it could continue through 2025. Despite declining global liquidity, Bitcoin's rise is seen as a promising sign, with expectations for a potential peak above $110,000 by early 2025, barring significant market corrections.

FCA Blocks Pump.fun in the UK Over Unauthorised Operations

The UK's Financial Conduct Authority (FCA) has warned against Pump.fun, a memecoin generator, for operating without authorization. The platform allows users to create tokens on the Solana blockchain. It may offer financial services in the UK without permission, leaving users without consumer protections like the Financial Ombudsman Service. The FCA advised users to avoid dealing with Pump.fun. Despite the ban, some users are attempting to bypass restrictions using VPNs. The FCA has previously targeted similar unregulated crypto platforms.

Lawrence Summers Criticizes Trump's Bitcoin Reserve Plan

Former U.S. Treasury Secretary Lawrence Summers dismissed President-elect Donald Trump's proposal for a national Bitcoin reserve, calling it "crazy" and a tactic to appeal to crypto donors. Summers questioned the rationale for accumulating Bitcoin, likening it to historical reserves like oil or gold. Despite criticizing the reserve plan, Summers agreed with Trump's stance that cryptocurrency has been over-regulated, emphasizing the need for financial innovation. Trump's idea, supported by some Republicans, proposes the U.S. government acquire and hold Bitcoin to address the national debt.

Bitcoin Reaches $2 Trillion Milestone in Less Than 16 Years

Bitcoin has reached a historic milestone, becoming a $2 trillion asset in under 16 years, far quicker than companies like Amazon (29 years) and Apple (42 years). On December 5, Bitcoin broke the $100,000 mark, with ARK Invest CEO Cathie Wood predicting even greater potential. Wood emphasized Bitcoin's superiority over gold, calling it "a much bigger idea." Bitcoin now represents 52.6% of the $3.9 trillion crypto market. Wood also suggested that Bitcoin could reach $1 million by 2030, driven by increasing institutional support.

Trump Nominates Paul Atkins as SEC Chair, Pledging Pro-Crypto Leadership

President-elect Donald Trump has nominated Paul Atkins to replace Gary Gensler as SEC chair, citing his experience as a former SEC commissioner and his pro-crypto stance. Atkins, a digital assets advocate, has worked on crypto regulations as Co-Chairman of the Digital Chamber's Token Alliance. Trump described him as a "proven leader for common-sense regulations," emphasizing transparency and investor protection. This nomination aligns with Trump's campaign promise to support the crypto industry, promising a shift from Gensler's anti-crypto policies that have led to numerous legal battles.

Haliey Welch's Hawk Tuah Memecoin Plummets 90% Amid Controversy

Haliey Welch's Hawk Tuah (HAWK) memecoin saw a dramatic 90% plunge shortly after its December 4 launch, sparking outrage over allegations of insider sales and "snipers" — entities that rapidly acquire tokens at launch. The coin briefly reached a $490 million market cap before crashing to $41.7 million. Despite claims from Welch that her team did not sell any tokens or give coins to key opinion leaders, data revealed that a wallet sniped 17.5% of HAWK's supply, profiting $1.3 million. The incident has led to potential legal actions and SEC complaints.

NEWS FROM MELEGASWAP

MelegaSwap is expanding on SOLANA NETWORK!

We are thrilled to announce that MelegaSwap will be operational on the SOLANA Network within 15 days. Unlike the current platform, MelegaSwap on SOLANA will use the Raydium router, ensuring maximum liquidity for the best trading experience. Click here to learn more.

Cboin (CBN) Listed on MelegaSwap

Cboin (CBN) is a newly emerging cryptocurrency on PancakeSwap v3 that offers promising growth potential. As of now, its value has increased by 26.42% within the last 24 hours, making it an exciting prospect for early investors.

Trust Wallet (TWT) Farm Listed on MelegaSwap

$TWT is a utility token that increases the adoption of cryptocurrency.

Fantom (FTM) Farm Listed on MelegaSwap

Fantom is a directed acyclic graph (DAG) smart contract platform providing developers with decentralized finance (DeFi) services using its own bespoke consensus algorithm.

Green Metaverse Token (GMT) Farm Listed on MelegaSwap

STEPN is a "Web3 lifestyle app" with GameFi elements on the Solana blockchain. It combines aspects of a play-to-earn game with a fitness app to create a new category coined "move-to-earn." Users buy NFT sneakers, which they can use to earn in-game currency while walking, running, or jogging.

Spectral Token (SPEC) Farm Listed on MelegaSwap

Transforming Static Memes to Sentient Agents.

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