### A Legal Battle in the Crypto Space

Derek Khanna, a **prominent conservative political commentator** and the **general counsel** for the Bitcoin Advocacy Project, has initiated legal proceedings against a **crypto startup** in a Washington, D.C. court. Khanna claims that the startup's executives have **"pocketed large sums of money"** and subsequently **"fell off the face of the earth."**  

In a recent interview, Khanna expressed his frustration, stating, **"I just want my money back."** This situation raises important questions about **accountability** and **transparency** within the rapidly evolving cryptocurrency market. The crypto industry has faced increasing scrutiny, and cases like this highlight the potential risks for investors and advocates alike.

"I just want my money back," said Derek Khanna, who holds several roles and side hustles, including head of policy and general counsel for the Bitcoin Advocacy Project.

Conservative Bitcoin Advocate Takes Legal Action Against Crypto Startup: What Happened?

![Bitcoin Representation](https://newsimg.koreatimes.co.kr/2024/12/22/4eddd06e-8fac-4556-8254-f0e8c40a1d09.jpg)

A representation of **Bitcoin** and a price chart are seen in this October 2023 photo illustration. Reuters-Yonhap

South Korea and the **United States** are conducting joint research to strengthen protection against **cryptocurrency heist** attempts amid growing concerns of such attacks by **North Korea-linked hackers**, officials said Sunday.

Based on a recently signed technical annex between the South Korean government and the **U.S. Department of Homeland Security**, the two sides will jointly develop technologies to prevent **cryptocurrency-targeted attacks** and to track stolen assets, according to authorities and cybersecurity industry officials.

The **science ministry** plans to support such research through the **Institute of Information & Communications Technology Planning & Evaluation** until 2026.

This initiative comes as the price of **Bitcoin** recently surged to **$100,000** after the **U.S. presidential election**, raising concerns of increased attempts by hackers to steal virtual assets.

While the United States collaborates with other countries for cybersecurity research, it has notably chosen **South Korea** for research on **digital asset tracking technology** as North Korea is seen as a key culprit behind cryptocurrency heists.

Under the program, South Korean and U.S. researchers, including those from **Korea University** and the **RAND research institute**, will focus on technologies to prevent and track hackers when they steal assets from a cryptocurrency exchange.

They will also aim to understand how hackers convert or launder other financial assets they obtain into virtual assets through illegal **ransomware** or other methods.

**North Korea** is known as a major player in cryptocurrency heists, with hackers linked to the country estimated to have stolen **$1.34 billion** worth of cryptocurrency across **47 incidents** this year, according to **Chainalysis**, a blockchain analysis firm.

South Korea and the United States are conducting joint research to strengthen protection against cryptocurrency heist attempts amid growing concerns of such attacks by North Korea-linked hackers, officials said Sunday. 

US and South Korea Unite to Combat North Korean Cryptocurrency Thefts

## **Let’s Talk Bitcoin: Engaging the Community**  
In North County, a **dynamic meetup group** is bringing together cryptocurrency enthusiasts to discuss the latest trends and innovations in the world of digital currencies. This initiative aims to create a vibrant community where both newcomers and seasoned investors can share insights and experiences.  
  
## **What to Expect**  
Participants can look forward to:  
- **Interactive Discussions**: Engage in lively debates about the future of Bitcoin and other cryptocurrencies.  
- **Networking Opportunities**: Connect with like-minded individuals, potential investors, and industry experts.  
- **Educational Insights**: Gain knowledge from presentations and discussions that cover various aspects of cryptocurrency, including market analysis and investment strategies.  
  
## **Join the Movement**  
As interest in cryptocurrency continues to grow, these meetups provide a crucial platform for education and networking. Whether you're looking to invest or just curious about the crypto space, this community welcomes everyone eager to learn more about the evolving world of Bitcoin and beyond.

Exploring the Cryptocurrency Community: North County's Engaging Meetup Group

The **S&P 500** market index has seen a **total return of 25% in 2024**, which is impressive, but it pales in comparison to the **crypto market**. As of the end of 2023, the total market value of all cryptocurrencies reached **$1.65 trillion**, and by December 19, this number doubled to **$3.30 trillion**.

**Bitcoin (CRYPTO: BTC)** has gained **138%** during this period, while **Solana (CRYPTO: SOL)**, known for its **smart contracts**, showed a **101% gain**. However, Solana's performance shines even brighter when looking back further; starting from the lows of December 2022, Solana has achieved a staggering **2,000% price gain**.

![Solana Price Chart](https://s.yimg.com/ny/api/res/1.2/t69g0WjrNkNHoahhD1sI6g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUzOTtjZj13ZWJw/https://media.zenfs.com/en/motleyfool.com/c37a09122fa597d1ef96e10b427f0dc1)

This recent surge in Solana's price comes after a drastic drop from **$259 to $10 per token** due to the collapse of **Sam Bankman-Fried's FTX crypto exchange**. While Bitcoin also suffered during this period, its decline was less severe. Therefore, Solana's impressive gains can be attributed, in part, to its low starting price.

On the upside, Solana continues to excel in executing smart contracts efficiently, making it ideal for automating financial transactions and managing decentralized applications under pressure. This capability positions Solana as a strong contender for widespread adoption in the future, particularly in sectors like mobile gaming and blockchain trading.

Given its return to the **top-10 list** of major cryptocurrencies, investing in Solana appears to be a sound strategy for 2024, as its applications are expected to expand significantly in real-world scenarios.

Is it time to swap Bitcoin for Solana? Here's what you need to know about these big crypto names and their long-term prospects.

Is Solana the New Bitcoin? Discover the Surprising Gains of 2024!

Is it time to swap **Bitcoin** for **Solana**? Here's what you need to know about these big crypto names and their long-term prospects.

## Crypto Market Performance
The **S&P 500** market index has seen a total return of **25%** in 2024, a fantastic year for stocks, but it pales in comparison to the crypto market's performance. According to CoinMarketCap, the total market value of all cryptocurrencies reached **$1.65 trillion** at the end of 2023 and doubled to **$3.30 trillion** by December 19.

**Bitcoin (BTC)** gained **138%** over the same period, while **Solana (SOL)** achieved a **101%** gain, slightly ahead of the overall crypto sector. However, if we look further back, Solana boasts a remarkable **2,000%** price increase since the lows of December 2022.

![Solana Price Chart](https://media.ycharts.com/charts/63728faed1f8677e3c062ef0bbfee922.png)

## Solana's Rebound
Solana's price surge began from a low point due to the fallout from the **FTX** collapse, where its value plummeted from **$259** to **$10** per token within a year. This recovery is significant, and while Bitcoin also suffered during the FTX debacle, its decline was not as severe.

## Real-World Applications of Solana
Solana is proving to be a top performer in executing **smart contracts** quickly, which is essential for automating financial transactions. Its high-speed contracts are beneficial for decentralized programs, mobile games, and even potential everyday purchases like gas and groceries. As it returns to the top-10 list of cryptocurrencies, investing in Solana seems promising for 2024.

## Bitcoin's Growth Catalysts
While Solana has shown impressive growth, Bitcoin has several strong growth catalysts:
- **Bitcoin Halving**: The recent halving of Bitcoin's issuance historically leads to significant price increases a year later.
- **Spot Bitcoin ETFs**: With around **5.2%** of all Bitcoins invested in ETFs, the inflow of capital through these funds is expected to grow.
- **Political Support**: The incoming administration's crypto-friendly stance may lead to the creation of a national Bitcoin reserve, increasing scarcity and potentially driving up prices.

## Investment Preference
Despite Solana's recent performance, Bitcoin's long-term strength makes it the preferred investment. As a long-term investor, holding more Bitcoin and a smaller stake in Solana seems to be a wiser strategy. Bitcoin's evolution into a more stable asset gives it an edge over Solana, which, while exciting, is still more speculative.

**In summary**, while Solana's growth is impressive, Bitcoin's established position and multiple growth factors make it a compelling long-term investment choice.

Should You Trade Bitcoin for Solana? Uncovering the Best Crypto Investment Strategy!

Multiple U.S. states are now **considering Bitcoin reserve bills**, following the push from advocates who see the potential benefits of holding this digital asset. With Bitcoin's price soaring, states are looking to bolster their financial strategies by incorporating this cryptocurrency into their reserves.

## Texas
Texas is at the forefront, with **State Representative Giovanni Capriglione** proposing a bill to create a **strategic Bitcoin reserve**. The bill mandates that the state hold Bitcoin for at least five years in **cold storage**, ensuring security against online threats. Importantly, these assets cannot be used for transactions outside Texas, aligning with the state's commitment to innovation in digital assets.

## Pennsylvania
In Pennsylvania, the House of Representatives has introduced a bill to establish a **strategic Bitcoin reserve**. The proposal allows the state’s Treasurer to purchase Bitcoin using up to **10% of the State General Fund**, potentially amounting to nearly **$1 billion**. Lawmakers believe that Bitcoin's appreciation could help the state combat inflation and adapt to economic changes.

## Ohio
Ohio is also joining the movement, with **State Representative Derek Merrin** proposing a bill to create a **Bitcoin fund** within the state Treasury. This would give the Treasurer the discretion to purchase Bitcoin, with Merrin emphasizing the need for Ohio to embrace technology to protect tax dollars from inflation.

These proposals indicate a growing interest among U.S. states to leverage Bitcoin as a strategic financial asset, potentially setting a precedent for more states to follow suit.

Multiple U.S. states are reviewing Bitcoin reserve bills, while crypto advocates are pushing for similar proposals in other states.

Is Your State Next? Bitcoin Reserves Are Gaining Traction Across the U.S.

Bitcoin has undergone a **dramatic price drop**, falling towards **$90,000** per coin, which has significantly impacted the **crypto market**, erasing around **$500 billion** from the total market value of **$3.2 trillion**. This downturn is attributed to broader market trends following warnings from **Federal Reserve** Chair **Jerome Powell** regarding persistent inflation.

### Current Market Overview

In the last 24 hours, Bitcoin's drop of approximately **10%** seems modest compared to other cryptocurrencies like **Ethereum**, **Solana**, and **Dogecoin**, which saw declines of **15% to 25%**. However, recent news has sparked a rebound, with Bitcoin nearing **$100,000** again after the **Personal Consumption Expenditures (PCE)** index indicated a smaller than expected inflation rise of **2.4%** for November.

### Predictions and Insights

**Cathie Wood**, founder of **Ark Investment Management**, remains bullish on Bitcoin, predicting its price could soar to **$1 million** by **2030**, leading to a **$20 trillion** market cap. Wood highlighted that Bitcoin is becoming **scarcer than gold**, emphasizing that unlike gold, Bitcoin's supply cannot increase even when prices rise.

### Market Volatility Ahead

As we approach the holiday season, experts suggest that **Bitcoin's volatility** is likely to increase. James Toledano from **Unity Wallet** noted that Bitcoin's price behavior during this period is historically mixed, with no clear patterns. Analysts are also keeping an eye on **January 20**, coinciding with the inauguration of incoming U.S. President **Donald Trump**, as a potential turning point for the market.

### Investor Sentiment

Danni Hewson from **AJ Bell** commented that the recent remarks from the Federal Reserve serve as a wake-up call, indicating that inflation remains a concern and could affect risk appetite in the market. With many investors now leaning towards long-term options, there is a sense of **optimism** for a recovery in **2025**.

![Bitcoin Price Drop](https://specials-images.forbesimg.com/imageserve/63020d5a58234c4b60fa8c68/Federal-Reserve--Jerome-Powell--bitcoin--bitcoin-price--crypto--image/960x0.jpg?cropX1=0&cropX2=3074&cropY1=356&cropY2=2336)

![Bitcoin Chart](https://specials-images.forbesimg.com/imageserve/67655cd6e24e42f3de0990ce/bitcoin--bitcoin-price--crypto--chart/960x0.jpg?fit=scale)

Bitcoin's drop of around 10% in the last 24 hours was dwarfed by ethereum and smaller, top ten cryptocurrencies that crashed back by between 15% and 25%...

Bitcoin's Rollercoaster Ride: From $90,000 Drop to $100,000 Surge Amid $20 Trillion Predictions!

## BONK Leads the Charge in Dog Meme Rebound
Solana-based **BONK** has surged by **30%**, leading the growth among dog-themed memecoins as Bitcoin recovers to above **$98,000**. This rebound comes a day after a significant drop that saw Bitcoin near **$93,000**.

## Memecoins Outperform Major Tokens
In the past 24 hours, BONK's impressive gain was complemented by other dog-themed tokens such as **Dogecoin (DOGE)**, **Shiba Inu (SHIB)**, **Dogwifhat (WIF)**, and **FLOKI**, which saw increases of up to **20%**. Collectively, the dog-themed token category averaged an **8%** gain, outperforming a broader market rise of **4.5%** as tracked by the **CoinDesk 20 (CD20)** index.

## The Volatility of Memecoins
Memecoins are notorious for their **high volatility** and often serve as **leveraged bets** on the overall crypto market sentiment. However, this recent rally is backed by solid fundamentals and positive sentiment among some memecoins.

## FLOKI's Recognition as a Utility Token
**FLOKI** has gained attention after being named a **utility token** by the **Commodity Futures Trading Commission (CFTC)** alongside **Ether (ETH)** and **Avalanche (AVAX)**. The CFTC proposed a new class of assets that includes tokens providing **"immediately available, non-incidental consumptive use"** in crypto platforms.

The lead developer of FLOKI stated, "This recognition validates FLOKI's utility-first approach. With the upcoming launch of **Floki's Valhalla metaverse game** in early **Q1 2024** and a recently released **Floki Trading Bot** generating over **$1 million** in fees, FLOKI is set apart from other memecoins."

## BONK's Supply-Shrinking Strategies
Interest in **BONK** is also growing as the community aims to **deflate the token supply**. The **BonkDAO**, a decentralized group supporting BONK, recently burned **100 billion tokens** and is targeting a **trillion token burn** in December, a strategy that historically leads to increased token value due to scarcity. Observers suggest this goal could be met in the coming weeks.

Memecoins are known for their high volatility and tend to outperform major tokens during price rallies, serving as a leveraged bet 

Conservative Bitcoin Advocate Takes Legal Action Against Crypto Startup: What Happened?

Summary:

A Legal Battle in the Crypto Space

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Other Latest News

US and South Korea Unite to Combat North Korean Cryptocurrency Thefts

Exploring the Cryptocurrency Community: North County's Engaging Meetup Group

Is Solana the New Bitcoin? Discover the Surprising Gains of 2024!

Should You Trade Bitcoin for Solana? Uncovering the Best Crypto Investment Strategy!

Is Your State Next? Bitcoin Reserves Are Gaining Traction Across the U.S.

Bitcoin's Rollercoaster Ride: From $90,000 Drop to $100,000 Surge Amid $20 Trillion Predictions!

Dog Memecoins Soar as Bitcoin Hits $98,000: The Surprising Comeback of BONK, DOGE, and FLOKI

Other Latest News

US and South Korea Unite to Combat North Korean Cryptocurrency Thefts

Exploring the Cryptocurrency Community: North County's Engaging Meetup Group

Is Solana the New Bitcoin? Discover the Surprising Gains of 2024!

Should You Trade Bitcoin for Solana? Uncovering the Best Crypto Investment Strategy!

Is Your State Next? Bitcoin Reserves Are Gaining Traction Across the U.S.

Bitcoin's Rollercoaster Ride: From $90,000 Drop to $100,000 Surge Amid $20 Trillion Predictions!

Dog Memecoins Soar as Bitcoin Hits $98,000: The Surprising Comeback of BONK, DOGE, and FLOKI