### Cryptocurrency Prices on the Rise

This year has witnessed a **significant surge** in cryptocurrency prices, particularly for **Bitcoin** and various **altcoins**. Investors are keen to understand the forces behind this dramatic uptick. 

#### Key Factors Influencing the Surge
- **Market Sentiment:** Positive market sentiment has been a major driver, with many investors bullish on the future of digital currencies.
- **Increased Adoption:** More businesses are integrating cryptocurrencies into their payment systems, enhancing their legitimacy and utility.
- **Institutional Investment:** A growing number of institutional investors are entering the market, signaling confidence in the long-term viability of these assets.
- **Technological Advancements:** Innovations in blockchain technology are improving transaction efficiency and security, attracting more users.

#### Bitcoin vs. Altcoins
While Bitcoin remains the dominant player, **altcoins** are not far behind, with several showing remarkable growth. This trend raises questions about the future dynamics of the cryptocurrency market, especially as new projects gain traction.

Stay informed as we continue to monitor these exciting developments in the cryptocurrency landscape!

Tech in Asia (YC W15) is a media, events, and jobs platform for Asia's tech communities.

Bitcoin and Altcoins Skyrocket: What’s Driving the Surge in Cryptocurrency Prices?

### Former NCAA Swimmer Indicted in Major NFT Fraud

Former **UNC swimming commit Gavin Mayo** has been indicted alongside **Gabriel Hay** for allegedly defrauding investors of over **$22 million** in a cryptocurrency fraud scheme known as a **“rugpull.”** 

According to the **U.S. Justice Department**, a rugpull is a type of fraud where the creators of a digital asset project solicit funds from investors and then abandon the project while retaining the funds. Mayo and Hay, both aged 23, are accused of lying to investors and threatening a project manager who tried to expose their fraud.

![Gavin Mayo - Fraud Case](https://www.youtube.com/embed/QeaHH51XN18?feature=oembed)

Mayo, originally from **Greensburg, Pennsylvania**, was a sprinter who had briefly committed to swim at the **University of North Carolina**. He never swam a meet for the Tarheels, later dropping out and gaining notoriety on **TikTok** for promoting extreme lifestyle choices while claiming to be the **“youngest billionaire in the world.”**

One of his notable projects was the **“Vault of Gems,”** which falsely claimed to be the first NFT project backed by jewelry. He raised over **$100 million** for this project before abruptly terminating it, claiming the marketplace never materialized.

U.S. officials, including Principal Deputy Attorney General **Nicole M. Argentieri**, have stated that fraudsters exploit new technologies to steal investors’ money. Each defendant faces serious charges, including conspiracy to commit wire fraud, with potential penalties reaching **65 years** in prison if convicted.

This case has become one of the most significant cryptocurrency fraud cases in the U.S. in recent times, highlighting the ongoing issues of fraud in the rapidly evolving digital asset space.

Mayo, 23, was briefly listed on the roster at one NCAA Power 5 program before dropping out of school. He has now been accused with conning investors out of more than $22 million.

From Swimmer to Scammer: Gavin Mayo's $22 Million NFT Fraud Case Shakes the Crypto World

The first weekend of **2025** has been a whirlwind in the world of finance, with cryptocurrencies making **significant strides**. **Bitcoin (BTC)** is inching closer to the **$100,000 mark**, while **Dogecoin** has seen a surge, possibly due to **Elon Musk’s influence**. Let’s dive into the details.

### Bitcoin Nears $100,000, Dogecoin Soars
The cryptocurrency market has started the year on a high note, with Bitcoin prices nearing the **$100,000 mark** despite record **ETF outflows**. **Dogecoin** has also seen a significant increase in value.

### Bitcoin Could Reach $1 Million, Says Arthur Hayes
**BitMEX co-founder Arthur Hayes** has suggested that a change in **US banking regulations** could propel Bitcoin to a **$1 million valuation**. Hayes believes that if US banks receive an exemption from the **supplementary leverage ratio (SLR)** rule, it could lead to increased **market liquidity**, significantly boosting Bitcoin's value.

### Cathie Wood’s Ark Invest Makes Strategic Trades
**Ark Invest**, led by **Cathie Wood**, made significant trades involving **Palantir Technologies Inc.**, **Ark 21Shares Bitcoin ETF**, and **Quantum-Si Inc.** Ark Invest sold **20,332 shares of Palantir**, aligning with their recent trend of reducing its position in the hot AI stock.

### Elon Musk’s Influence on Dogecoin
The price of **Dogecoin** has increased, possibly due to social media platform **X** getting closer to launching payments in **2025**. **Elon Musk**, who acquired the platform for **$44 billion** in **2022**, could be a significant factor in this surge.

### Bitcoin Discussion at Mar-a-Lago
Bitcoin advocate **Michael Saylor** met with **Eric Trump** at **Mar-a-Lago**, sparking speculation that Bitcoin could have been a topic of discussion between the two influential figures. Saylor shared a photo of the meeting with the caption, “**Bitcoin is on the menu at Mar-a-Lago.**”

*Photo courtesy: Shutterstock*

The first weekend of 2025 has been a whirlwind in the world of finance, with cryptocurrencies making significant strides. Bitcoin (CRYPTO: BTC) is inching closer to the $100,000 mark, while Dogecoin has seen a surge, possibly due to Elon Musk&#8217;s influence.

Bitcoin Approaches $100K: Cathie Wood Trades & Elon Musk's Dogecoin Surge This Week in Crypto

### Cryptocurrency Wallet Drainers Steal $494 Million

In a shocking turn of events, **cryptocurrency wallet drainers** have reportedly stolen **$494 million** in 2024. This surge in thefts highlights the vulnerabilities within the cryptocurrency ecosystem, emphasizing the need for enhanced **security measures**.

As the **crypto market** continues to evolve, so do the tactics employed by malicious actors. Individuals and businesses must remain vigilant to safeguard their assets against such attacks. 

The scale of these thefts raises questions about the **security protocols** in place for cryptocurrency wallets. Users are urged to adopt more robust security practices to protect their holdings from potential breaches.

Stay informed and protect your investments in this increasingly dangerous landscape of digital currency.

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Staggering $494 Million Lost in Cryptocurrency Wallet Drainers in 2024

At its fourth quarter meeting on December 27, the **People’s Bank of China (PBOC)** proposed a more dovish (low interest rate) policy going forward. This comes as the **US Federal Reserve** has different plans.

## China Announces Interest Rate Cut
Financial analysts expect the PBOC to adjust the target funds rate to better align credit demand with monetary policy, as reported by **Reuters**. Consequently, crypto analysts foresee a significant monetary boost for **Bitcoin** prices fueled by China’s yuan printing.

The central bank announced a cut to banks’ reserve requirement ratios and interest rates at “a proper time.” They are likely to reduce China’s interest rates from the current target of **1.5%** in 2025.

The last rate cut occurred in September when the rate dropped from 1.7% to 1.5%, coinciding with the Federal Reserve's pivot to a rate-cutting regime. Additionally, **China’s 10-year and 30-year treasury yields** hit record lows on Friday due to expectations of fresh monetary easing.

## Arthur Hayes Predicts ‘Glorious’ Bitcoin Rally
The impending interest rate cut from the PBOC is expected to counter a deflationary yuan that risks leading to crippling loan revaluation. This will also increase the prices of various financial goods, particularly **stocks** and **cryptocurrencies**.

**Arthur Hayes**, co-founder of BitMEX, predicts that the next rate cut in Beijing, combined with the Fed’s low rate regime, will spark a “**glorious**” rally for Bitcoin and other crypto assets in 2025.

Hayes, an influential macro strategic analyst, notes that immediately after the US Federal Open Market Committee (FOMC) announced a rate cut in September, Bitcoin’s price **rocketed above** $60,000, eventually reaching record highs of **$100,000**.

In a previous Medium post, Hayes stated that when China unveils its monetary “bazooka,” purchasing a **Wall Street Bitcoin ETF** will be a no-brainer for regulated investors in the US. He emphasized that Bitcoin is the top-performing asset amidst global fiat debasement, attracting institutional investors.

In addition to a rising **Coinbase premium index**, ETF flows for Bitcoin are strong indicators that mainstream investors are returning to Bitcoin this January.

China's central bank may be mere days away from cutting interest rates after its most recent meeting on Friday. BitMEX crypto exchange founder Arthur Hayes predicts a big rally ahead for Bitcoin.

Why Arthur Hayes Believes China's Rate Cuts Could Trigger a Bitcoin Surge

## Elon Musk's Bold Move in the Crypto Space

Elon Musk, **the Tesla billionaire**, has recently been on the periphery of the crypto world, but a new leak suggests that his platform, **X**, is about to make waves in the cryptocurrency realm. With Bitcoin nearing the **$100,000** mark, interest in digital assets is at an all-time high.

![Elon Musk and Crypto](https://specials-images.forbesimg.com/imageserve/64ad49a68d1670952aedfb03/Elon-Musk--X--X-Money--bitcoin--bitcoin-price--crypto--image/960x0.jpg?cropX1=618&cropX2=2822&cropY1=268&cropY2=1686)

### What We Know About X Money

Recent reports indicate that **X Payments** is set to launch imminently, potentially without approval from all **50 states**. This could mean that the platform will be operational sooner than expected. According to **X influencer Alex Finn**, new code has been shipped that hints at this launch.

Musk's vision for X is to evolve it into an **"everything app"**, akin to China's WeChat, which may include payment functionalities.

### Speculations and Predictions

With the confirmation of **X Money**, speculation is rampant that the platform may support Bitcoin and other cryptocurrencies. Finn, in a broadcast, predicted that **X payments** will incorporate cryptocurrency as a significant part of its operations. This could mirror the impact that **PayPal's** entry into the crypto market had on Bitcoin's price back in **2021**.

### Musk's Influence on Bitcoin Prices

Despite Musk's recent silence on Bitcoin, his previous endorsements and political affiliations have historically led to significant price movements. His support for **Donald Trump** during the election period has been linked to bullish sentiment in the crypto market.

Furthermore, Musk's initiatives, such as the **Doge Department of Government Efficiency**, reflect his ongoing engagement with cryptocurrency, particularly with **Dogecoin**, which he has publicly endorsed.

![Bitcoin Price Surge](https://specials-images.forbesimg.com/imageserve/677a7dd2c444ed98d8ae4f32/bitcoin--bitcoin-price--crypto--Elon-Musk--X-Money--chart/960x0.png?fit=scale)

As Bitcoin's price continues to surge, the potential integration of cryptocurrency into X could lead to a **price boom**, reigniting interest among traders and investors alike.


A leak has revealed Elon Musk's X could be about to "imminently" launch a bitcoin and crypto game-changer...

Elon Musk's X Money: The Upcoming Bitcoin Revolution You Can't Miss!

## MicroStrategy's Plan to Expand Bitcoin Holdings

A US-based development and business intelligence company, **MicroStrategy**, is set to advance its strategy of accumulating significant **Bitcoin** investments. Despite already holding a substantial amount of Bitcoin, the company plans to use an estimated **$2 billion** from a preferred stock offering to further increase its BTC holdings.

## The 21/21 Plan

MicroStrategy has announced its intention to raise funds through the sale of its shares via a preferred stock offering, aiming to finance additional Bitcoin as part of its bold “**21/21**” plan. 

> “MicroStrategy targets up to **$2 billion** capital raise through public offerings of perpetual preferred stock in the first quarter of 2025,” stated co-founder **Michael Saylor**.

The company plans to raise this capital through “one or more public underwritten offerings” of perpetual preferred stock linked to MicroStrategy’s **class A common stock**. The features of this stock may include:
- Convertibility to class A common stock
- Cash dividends
- Provisions for share redemptions

## Other Ways to Finance Crypto Purchases

In addition to the stock offering, MicroStrategy is exploring other options to fulfill its ambitious plan to raise **$21 billion** in equity and **$21 billion** in fixed-income instruments to continue acquiring more Bitcoins. The firm has been utilizing various funding strategies, including senior convertible notes and debt, to bolster its digital asset portfolio. The offering is anticipated to happen in the first quarter of 2025.

MicroStrategy has made it clear that this planned offering will strengthen its balance sheet and enhance its Bitcoin acquisition capabilities. However, they retain the discretion to proceed or not with the offering depending on market conditions.

> “The decision whether to proceed with and consummate the Offering is in MicroStrategy’s sole discretion and is subject to market and other conditions,” the company explained.

## Largest Bitcoin Holder

Data indicates that MicroStrategy is already the largest corporate holder of Bitcoin, owning **446,400 Bitcoins** valued at approximately **$43.9 billion**. Despite this achievement, the company remains steadfast in its commitment to acquiring more cryptocurrencies, driven by the strategic vision of its executive chairman, **Michael Saylor**.

![BTC Trading Chart](https://www.tradingview.com/x/9P7VbvIg/)
*BTC is currently trading at $97,787. Chart from [TradingView](https://www.tradingview.com/)*

*Featured image from MicroStrategy, chart from TradingView*

A US-based development and business intelligence company will push through with its plan to build up its Bitcoin holdings, implementing its strategy of

MicroStrategy's Bold Move: $2 Billion Stock Offering to Boost Bitcoin Holdings

## AMBER Mining: A Game-Changer in Cloud Mining

![AMBER Mining](https://blockchainwire.s3.amazonaws.com/d40e4688-4c34-636b-d9a8-3f86040a60ea/editor_image/22301fa9-2ae9-446a-acda-3eb10f04d340.jpg)

**London, UK, Jan. 04, 2025** – AMBER Mining has emerged as a game-changer in the cloud mining industry with the announcement of **FCA-regulated mining contracts**. This significant development ensures that cryptocurrency investors can participate in mining with greater **transparency** and **security**, backed by the stringent oversight of the UK Financial Conduct Authority (FCA).

## A Milestone in Cloud Mining

Amber Mining's FCA compliance marks a pivotal shift in the cryptocurrency mining landscape. This move addresses common industry concerns such as **fraud** and **lack of accountability**, creating a reliable space for investors to explore cryptocurrency mining.

**Amber Mining CEO stated:**  
*"The introduction of FCA-regulated contracts underscores our commitment to protecting investors while driving innovation in the cryptocurrency mining space. We aim to set a new standard for security and trust in the industry."*

## Features of Amber Mining

Amber Mining combines cutting-edge technology and strict compliance measures to offer unparalleled services to its users. Key features include:
- **Global Operations:** Over 100 mining centers worldwide ensure extensive service coverage.
- **Advanced Hardware:** Partnerships with manufacturers like Bitmain, Canaan, and Nvidia ensure efficient mining operations.
- **High Hashrate Management:** The platform operates with over **10 EH/s** capacity, delivering significant mining efficiency.
- **User-Friendly Design:** The platform eliminates the need for users to manage hardware or software, making it ideal for both novice and experienced miners.
- **Expert Support:** A dedicated team of blockchain engineers ensures smooth technical operations.
- **Consistent Earnings:** Earnings are automatically credited every 24 hours for a stable income stream.

## Getting Started with Amber Mining

Using the Amber Mining platform is straightforward:
1. **Register on the Platform:** Sign up in minutes and receive **$12 immediately** as a welcome bonus.
2. **Choose a Mining Contract:** Select from various tailored contracts based on your budget and goals.
3. **Start Profiting:** Activate your chosen contract and let the system manage the mining process. Track your earnings through the platform’s intuitive dashboard and withdraw your profits as needed.

## Amber Mining Contract Options

Below is a summary of the available contracts:
| **Contract Price** | **Contract Duration** | **Daily Interest Rate** | **Total Income (Principal + Profit)** |
|--------------------|----------------------|-------------------------|---------------------------------------|
| $12                | 1 Day                | 10%                     | $12 + $1.2                          |
| $150               | 2 Days               | 4%                      | $150 + $12                          |
| $500               | 5 Days               | 1.55%                   | $500 + $38.75                       |
| $1,000             | 4 Days               | 1.58%                   | $1,000 + $63.2                      |
| $2,000             | 10 Days              | 1.6%                    | $2,000 + $320                       |

For more details, please visit [Amber Mining](https://ambermining.com).  

**Disclaimer:** The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

AMBER Offers Access to High-Performance Bitcoin Mining with No Upfront Costs...

Bitcoin and Altcoins Skyrocket: What’s Driving the Surge in Cryptocurrency Prices?

Summary:

Cryptocurrency Prices on the Rise

Key Factors Influencing the Surge

Bitcoin vs. Altcoins

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Other Latest News

From Swimmer to Scammer: Gavin Mayo's $22 Million NFT Fraud Case Shakes the Crypto World

Bitcoin Approaches $100K: Cathie Wood Trades & Elon Musk's Dogecoin Surge This Week in Crypto

Staggering $494 Million Lost in Cryptocurrency Wallet Drainers in 2024

Why Arthur Hayes Believes China's Rate Cuts Could Trigger a Bitcoin Surge

Elon Musk's X Money: The Upcoming Bitcoin Revolution You Can't Miss!

MicroStrategy's Bold Move: $2 Billion Stock Offering to Boost Bitcoin Holdings

Unlock Free Bitcoin with AMBER Mining's Revolutionary Cloud Mining Program!

Other Latest News

From Swimmer to Scammer: Gavin Mayo's $22 Million NFT Fraud Case Shakes the Crypto World

Bitcoin Approaches $100K: Cathie Wood Trades & Elon Musk's Dogecoin Surge This Week in Crypto

Staggering $494 Million Lost in Cryptocurrency Wallet Drainers in 2024

Why Arthur Hayes Believes China's Rate Cuts Could Trigger a Bitcoin Surge

Elon Musk's X Money: The Upcoming Bitcoin Revolution You Can't Miss!

MicroStrategy's Bold Move: $2 Billion Stock Offering to Boost Bitcoin Holdings

Unlock Free Bitcoin with AMBER Mining's Revolutionary Cloud Mining Program!