![Trump eyes first-ever White House crypto czar](https://cf-images.us-east-1.prod.boltdns.net/v1/static/694940094001/6a5c79f0-a6bf-4589-b842-eed92e5570d3/c2b96c0b-429d-4833-beef-1333576f2015/1280x720/match/image.jpg?pubId=854081161001)

In a recent discussion on **Fox & Friends**, 'Shark Tank' investor **Kevin O'Leary** shared his thoughts on the potential appointment of a **crypto czar** by former President **Donald Trump**. This could mark a historic move as it would be the first-ever position of its kind in the White House.

O'Leary also touched upon the influence of notable figures like **Elon Musk** and **Vivek Ramaswamy** in the **DOGE** cryptocurrency space, emphasizing their role in shaping market trends. 

The conversation sparked curiosity about who might be considered for key positions, including **Treasury Secretary** and the crypto czar. O'Leary's insights shed light on the evolving landscape of cryptocurrency and its potential integration into U.S. economic policy.

Stay tuned for more updates on this developing story as the political and financial worlds intersect in unprecedented ways.

'Shark Tank' investor Kevin O'Leary joins 'Fox & Friends' to discuss Elon Musk and Vivek Ramaswamy leading DOGE, Trump's potential appointments for Treasury secretary, and the first-ever crypto czar.

Could Trump Appoint the First-Ever Crypto Czar? Insights from Kevin O'Leary

Hackers have grown more sophisticated and continue to rake in billions from **crypto exploits**. The year 2024 has officially surpassed last year’s totals for stolen funds, with **over $2.2 billion** reported stolen by Q3 2024, exceeding the **$1.8 billion** lost in all of 2023.

### DMM Bitcoin’s $308 Million
Japanese crypto exchange **DMM Bitcoin** lost over **4,500 BTC**—worth **$308 million**—to hackers back in May. The exact method of the breach is unclear, but **stolen private keys** are a plausible explanation. The exchange is in the process of shutting down and transferring accounts to **SBI VC Trade**.

### PlayDapp’s $290 Million
In February, hackers targeted the crypto gaming platform **PlayDapp** twice, exploiting a **private key vulnerability** and making off with **$290 million** in PLA tokens. Remarkably, they ignored a **$1 million** white hat reward to return the stolen funds.

### WazirX’s $235 Million
Indian crypto exchange **WazirX** was hit in June, losing nearly **$235 million**. The attack, linked to North Korea, forced WazirX to suspend all withdrawals, leaving users unable to access their funds. The exchange is currently undergoing a financial restructuring.

### Ripple Co-founder Chris Larsen’s $112.5 Million
**Chris Larsen**, co-founder of Ripple, had **213 million XRP** worth **$112.5 million** stolen from his accounts in January. He reassured that Ripple itself was not targeted, but efforts to recover the stolen assets have been unsuccessful.

### Orbit Chain’s $80 Million
On January 1, hackers drained over **$80 million** from the cross-chain bridge project **Orbit Chain**, taking Ethereum and DAI. The team behind Orbit has provided little update since the exploit.

### BtcTurk’s $54 Million
Turkish exchange **BtcTurk** lost **$54 million** on June 22, primarily in **Avalanche (AVAX)**. The exchange confirmed that most funds in cold storage were safe, and Binance assisted by freezing **$5.3 million** in stolen funds.

### Radiant Capital’s $50 Million
In October, hackers executed a sophisticated attack on **Radiant Capital**, stealing **$50 million** in tokens by using malware delivered through a PDF. The attack has been attributed to **North Korean hackers**.

### U.S. Government’s $20 Million
Even the U.S. government wasn't spared, with hackers targeting a wallet containing over **$20 million** worth of stablecoins and Ethereum in October. The funds, tied to a previous hack of the **Bitfinex exchange**, saw a portion returned, but the fate of the remaining funds remains unclear.

The crypto industry may have matured this year, but hackers made off with billions by targeting a mix of DeFi projects and exchanges.

Shocking Crypto Heists of 2024: Billions Stolen in Major Hacks

## Bitcoin's Rising Role in Russian Trade

Russian companies are increasingly turning to **Bitcoin** and other **digital currencies** for international transactions, according to Finance Minister **Anton Siluanov**. This shift is a response to **Western sanctions** affecting trade with key partners like **China** and **Turkey**.

### What Sparked This Change?
Siluanov stated that legislative changes enabling the use of Bitcoin were implemented to mitigate the impact of these sanctions. He mentioned on the Russia 24 television channel, "As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia (in foreign trade transactions)." This indicates that transactions using Bitcoin are already taking place, and he expressed a desire for these practices to be **expanded and developed further** in the future.

### The Future of Digital Currencies
Siluanov is confident that digital currencies will play a significant role in future international payments, suggesting that the trend will continue to grow over the next year.

### Why This Matters
Russia's increasing acceptance of cryptocurrencies aligns with President **Vladimir Putin**'s recent criticisms of the U.S. administration for undermining the **U.S. dollar**'s status as a reserve currency through political maneuvers. Putin noted that this has prompted many nations to look for **alternative assets**, highlighting Bitcoin as a prime example.

He also remarked that cryptocurrencies might become the **only instrument for international trade** for countries facing sanctions. This comes despite a recent announcement regarding a **six-year ban on cryptocurrency mining** in ten regions of Russia, effective from January 1, 2025, due to concerns about excessive energy usage.

### Current Market Status
As of now, Bitcoin is trading at **$98,305**, reflecting a **4% increase** over the past 24 hours, according to data from Benzinga Pro.

Russian companies have started using Bitcoin (CRYPTO: BTC) and other digital currencies for international transactions, said Finance Minister Anton Siluanov on Wednesday.

Russian Companies Embrace Bitcoin for Global Trade Amid Sanctions: A Strategic Shift

### Christmas Day Bitcoin Surge

Bitcoin experienced **an exciting surge**, climbing past **$99,000** on Christmas Day, fueled by renewed optimism in the market. However, this rally was short-lived, as it quickly corrected to **$98,000**, establishing a strong support level.

![Bitcoin Rebound](https://cryptoslate.com/wp-content/uploads/2024/12/christmas-bitcoin-768x403.jpg)

### Market Performance

According to **CryptoSlate’s data**, Bitcoin gained over **5%** within 24 hours, bouncing back from a weekly low of **$92,973**. At the time of writing, it was trading at **$98,000**. This rebound coincided with a broader recovery in altcoins, including **Ethereum**, **XRP**, and **Solana**, each recording gains of over **4%**.

The **global crypto market cap** increased by **3.5%**, reaching **$3.44 trillion**, while the **Crypto Fear and Greed Index** soared to **73**, indicating a sentiment of **Greed**.

### Whale Accumulation Strategy

This bullish trend aligns with insights from **Santiment**, a blockchain analytics firm, which noted that market rebounds often follow panic-induced sell-offs by retail traders. This allows larger investors, or **“whales,”** to acquire assets at discounted rates. Santiment stated:
> “Historically, when retail traders begin to sell based on panic and emotion, whales and sharks have opportunities to scoop up more coins with little resistance, creating bounces.”

### Liquidation Data

Despite the positive momentum, the recent rally faced challenges. Data from **CoinGlass** indicated that over **$290 million** was liquidated in the past 24 hours, affecting **105,883 traders**. Most of these losses came from short positions, totaling **$162 million**, while long positions accounted for **$128 million** in liquidations. Bitcoin traders faced the largest losses, with **$78 million** wiped out, followed by Ethereum traders with **$51 million**.

### Current Market Data

As of **12:52 pm UTC on Dec. 25, 2024**, Bitcoin is ranked #1 by market cap, priced at **$98,000** with a market capitalization of **$1.94 trillion** and a **24-hour trading volume** of **$46.21 billion**. The total crypto market is valued at **$3.42 trillion**, with Bitcoin dominance at **56.76%**.

![Bitcoin Market Overview](https://cryptoslate.com/wp-content/uploads/2024/12/christmas-bitcoin.jpg)  
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Bitcoin's brief recovery ignited broader altcoin surges and pushed the Crypto Fear and Greed Index to 'Greed.

Bitcoin's Holiday Surge: Briefly Reaches $99,000 Before Correction

Coinbase, founded in June 2012, originally focused on **facilitating Bitcoin transactions**. Over the years, it has diversified its services significantly. After a challenging 2022, **Coinbase shares have surged** by **697%** over the past two years, bringing its market cap to **$70 billion**.

## Betting on the Entire Crypto Industry
Coinbase's unique position in the market allows it to **bet on the growth of the entire cryptocurrency sector**. While Bitcoin gets most of the attention, other blockchain projects like **Ethereum**, **XRP**, and **Solana** also present investment opportunities. Coinbase's revenue model is evolving as it aims to reduce reliance on **volatile trading volumes** and focus on more stable income from subscriptions and services such as **stablecoin revenue**, **staking rewards**, and **custody solutions**.

## Crypto Over the Long Term
The company's success hinges not only on the **thriving cryptocurrency market** but also on its ability to leverage this growth. As crypto prices rise, trading activity typically increases, which can expand Coinbase's user base and revenue.

Recent innovations, such as the **Base Layer-2 solution** and the **USDC stablecoin**, show Coinbase's commitment to exploring **new growth avenues**. However, the future of the crypto market remains uncertain, with many tokens potentially becoming worthless.

## Temper Expectations
Despite the current bullish sentiment in the market, significant **regulatory and technical challenges** remain. The transition to cryptocurrencies will require them to outperform the existing financial systems in costs, speed, and security. Therefore, skepticism exists about whether Coinbase will achieve a **trillion-dollar valuation**.

![Coinbase Logo](https://g.foolcdn.com/art/companylogos/mark/COIN.png)

**Current Price:** $279.62  
**Today's Change:** (4.28%) $11.47

Coinbase (COIN 4.28%) was founded in June 2012 with the sole purpose of facilitating the buying and selling of Bitcoin. But over the next 12 years, the digital asset brokerage and exchange operator has expanded into a broader business by offering more services.

Could Coinbase Reach a Trillion-Dollar Valuation by 2040? Exploring the Possibilities

## Major Move in Israeli Finance: Bitcoin Mutual Funds Coming Soon

The **Israel Securities Authority (ISA)** has granted approval for **six mutual funds** that will track the price of **Bitcoin (BTC)**, set to launch on **December 31**. This comes after a significant wait, as the approval was finalized last week, according to **Calcalist**.

These funds will be offered by prominent institutions including **Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav**, and **IBI**. Management fees for these funds will vary, ranging from **1.5% to 0.25%**. Notably, one of the funds will be **actively managed**, aiming to outperform Bitcoin's market performance.

Currently, these funds will **transact just once a day**, but future products are expected to allow for continuous trading. This move aligns with the trend seen in the U.S., where spot Bitcoin **exchange-traded funds (ETFs)** received approval almost a year ago, resulting in a surge of investor interest that has seen these funds gather **$35.6 billion**.

An anonymous executive from an investment house commented on the lengthy process, stating, "The investment houses have been pleading for more than a year for ETFs to be approved... But the regulator marches to its own tune. It has to check the details."

This development marks a significant step for cryptocurrency investment options in Israel, as the country embraces the growing interest in Bitcoin and its financial products.

The Israel Securities Authority approval was granted last week, Calcalist reported.

Exciting New Bitcoin Mutual Funds Launching in Israel Next Week!

Cryptocurrency investors are experiencing a **remarkable year in 2024**, with the total market cap reaching **$3.5 trillion**, more than doubling from 2023. Leading coins like **Bitcoin (BTC)** are driving this growth, while even **XRP** has rebounded impressively, gaining **250%** this year after overcoming regulatory challenges.

### The Case for XRP (Ripple)
The global banking system is often slow and inefficient, with money transfers taking days. **Ripple** aims to streamline this with its **Ripple Payments** network, allowing financial institutions to transact directly, using **XRP** as a bridge currency. This method can save on currency exchange fees and transaction costs. 

After a significant legal battle with the **SEC**, which partially resolved in August 2024 with a **$125 million fine**, XRP has regained momentum. The token is trading around **$2.21**, but remains well below its all-time high of **$3.40** from 2018. The upcoming political climate may further influence XRP’s potential, as a more crypto-friendly administration could ease regulatory pressures.

![Bitcoin Symbol](https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F801908%2Fgold-coin-with-a-bitcoin-symbol-on-it-cryptocurrency-btc.jpg&amp;op=resize&amp;w=700)

### The Case for Bitcoin
In contrast, **Bitcoin** is a decentralized asset with a capped supply of **21 million coins**, of which **19.8 million** are already mined. Unlike XRP, Bitcoin has not faced regulatory issues, and the **SEC** has approved numerous **Bitcoin ETFs**, enhancing its appeal as a regulated asset. Bitcoin's market cap currently stands at **$1.9 trillion**, and many view it as a digital gold equivalent, with predictions suggesting it could reach **$893,000** per coin in the future, should it catch up with gold's market cap.

![XRP Symbol](https://g.foolcdn.com/art/companylogos/mark/XRP.png)

### The Verdict
While **XRP** offers innovative solutions, its future heavily depends on adoption by banks, which may choose to use fiat currencies instead. This makes XRP a speculative investment. Conversely, **Bitcoin** has established itself as a reliable store of value. With the growing popularity of Bitcoin ETFs and its limited supply, it is poised for better performance in **2025** compared to XRP. Investors are encouraged to consider these factors when deciding where to allocate their funds.



Cryptocurrency investors are having a great year in 2024. The total value of all coins and tokens across the industry currently stands at $3.5 trillion, more than doubling from where it ended in 2023.

XRP vs. Bitcoin: Which Cryptocurrency Will Outperform in 2025?

### Pantera Capital’s Bullish Outlook on Crypto

The CEO of **Pantera Capital**, a firm dedicated to digital assets, has made a bold prediction: the **crypto market** is expected to reach its peak in **2025**. In a recent interview on the **Bankless podcast**, Dan Morehead shared his insights on Bitcoin's price movements and the historical significance of halving cycles.

### Understanding Bitcoin Halving

A **Bitcoin halving** event occurs approximately every four years, where the rewards for mining Bitcoin are halved, effectively reducing the supply. Historically, these events have been associated with significant price rallies. The last halving took place in **April**, and Morehead suggests that based on past patterns, Bitcoin is on track to hit its peak in about **seven months**.

### Timeline to the Peak

Morehead predicts that **August 2025** will be the month to watch, stating:
> *“Everything’s kind of setting up for that... I still think it’s pretty real.”*  
He estimates that Bitcoin could reach a price of **$117,000**, indicating an increase of more than **18%** from its current trading value of **$98,713**.

### Historical Data Insights

Morehead's analysis is rooted in historical data, noting:
> *“Our data is that the halving starts about 400 days before the actual halving, the impact, the low in the markets, and then the high is 480 days after it.”*  
In the past, this pattern has proven accurate, making his forecast compelling for investors.

![Crypto Price Prediction](https://dailyhodl.com/wp-content/uploads/2024/04/realistic-price-bull-top.jpg)

### Current Market Status

As of now, Bitcoin is trading at **$98,713**, reflecting a **3.8%** increase in the last 24 hours. The upcoming months are pivotal for the crypto market as investors watch for signs of the anticipated bull cycle.

[Watch the full interview here](https://www.youtube.com/watch?v=Q3nj3TTaOV8)

The CEO of digital assets-focused investment firm Pantera Capital is predicting that the crypto market's bull cycle will peak in 2025.

Could Trump Appoint the First-Ever Crypto Czar? Insights from Kevin O'Leary

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Exciting New Bitcoin Mutual Funds Launching in Israel Next Week!

XRP vs. Bitcoin: Which Cryptocurrency Will Outperform in 2025?

Crypto Bull Market Forecast: Pantera Capital Predicts 2025 Peak at $117,000