### Montenegro's Decision to Extradite Do Kwon

Montenegro has officially announced its decision to **extradite** South Korean cryptocurrency entrepreneur **Do Kwon** to the **United States** following a prolonged legal battle. The **Justice Ministry** confirmed that the extradition request met the necessary criteria for removal, leading **Justice Minister Bojan Bozovic** to approve the extradition.

Kwon is wanted in the US due to his involvement in the **collapse of Terraform Labs**, a significant event that raised questions about regulatory oversight in the cryptocurrency space. This development is crucial as it could have implications for the broader cryptocurrency market and its regulatory framework.

![Do Kwon Extradition](https://example.com/do_kwon_extradition_image.jpg) 

As the situation unfolds, many are watching closely how this will affect not only Kwon but also the **cryptocurrency ecosystem** as a whole, especially in terms of investor confidence and regulatory actions.


Montenegro on Friday announced that it would extradite South Korean cryptocurrency entrepreneur Do Kwon to the United States, after a lengthy legal battle.

Do Kwon's Extradition to the US: What It Means for Cryptocurrency's Future

### The NFT Landscape in 2024
The year began on shaky ground for **NFTs**, with major collections struggling to maintain value amid a **bearish sentiment**. Floor prices dipped, leaving many to question if the NFT market could rebound.

Yet, as the year progressed into the final quarter, **new bullishness** in the broader cryptocurrency market set the stage for a **late-year resurgence**. Keep your expectations in check; it wasn’t a **2021/2022-like gold rush**, but the vibe shift was welcomed by the NFT faithful.

Leading the charge was **Pudgy Penguins**, a once-declining collection that blossomed under new ownership starting in 2022, hitting **new all-time highs** above $100,000 in anticipation of its **token airdrop**.

### Bitcoin Ordinals Find Their Footing
Though introduced at the start of 2023, **Bitcoin Ordinals** found their stride this year thanks to significant infrastructure upgrades and growing adoption. Early challenges faded as wallets like **XVerse** and **Unisat** made holding Ordinals safer and easier. Trading became more seamless as marketplaces like **Magic Eden** added critical support.

### NFT Marketplaces Evolve and Expand
This year has been pivotal for NFT marketplaces, with **OpenSea**, **Magic Eden**, and **Blur** shaping the narrative. Magic Eden led the charge on Bitcoin NFTs and launched a **decentralized exchange for Runes** after the Bitcoin halving. Meanwhile, OpenSea reemerged as a figurehead in the NFT world, testing its **OpenSea 2.0 marketplace** and fueling speculation about a potential future token launch.

### Brands Come and Go
The NFT craze of 2021 saw major brands rush into the space, but some giants retreated in 2024. **Nike** decided to shut down **RTFKT**, and **Starbucks** wound down its Web3 loyalty program. However, **McDonald’s** made headlines with a collaboration with **Doodles** for a holiday-themed campaign, signaling some brands still see potential in creative integrations.

### Going Token-Crazy
Perhaps no narrative gained as much momentum as NFT projects and their connections to **fungible tokens**. **Pudgy Penguins** launched its ecosystem token **PENGU** on Solana, providing NFT holders with a substantial stimulus infusion. Other collections like **Memeland** and **Milady** also dropped tokens to their NFT holders, maintaining market caps of over $100 million.

With **2025** on the horizon, the buzz around NFT tokens is likely to continue, especially with anticipated launches like **Azuki’s ANIME token** and ongoing promotion around **ApeCoin**.

While NFT sentiment started 2024 down, demand started to grow by year's end amid significant market shifts. Here's a look back.

NFTs in 2024: The Rise of Bitcoin Ordinals and Airdrop Frenzy Amid Market Shifts

### Elon Musk's Stark Warning

Tesla billionaire **Elon Musk** has issued a dire warning that the U.S. is on the brink of **de facto bankruptcy** unless immediate action is taken. Musk, who has been vocal about the country's spiraling debt, emphasizes the need for a **drastic fix** amid growing concerns over the national debt, which has soared to **$36 trillion**.

### Bitcoin's Role in U.S. Finances

The recent surge in **bitcoin prices** has coincided with the election of incoming U.S. president **Donald Trump**, who has proposed creating a **bitcoin strategic reserve** as a potential remedy to combat soaring debt and inflation. Trump's plan aims to unlock trillions in wealth through a **capital markets renaissance** fueled by bitcoin.

### The Current Economic Landscape

As inflation rates exceeded **10%**, the Federal Reserve was forced to implement aggressive interest rate hikes, leading to increased debt interest payments and raising fears of a **financial death spiral**. Musk's campaign against excessive spending has led to the establishment of the **Doge Department Of Government Efficiency**, which aims to cut U.S. spending significantly.

### Proposals for a Bitcoin Reserve

Earlier this year, Trump floated the idea of using bitcoin to pay off national debt, suggesting a **strategic national bitcoin reserve** could be created to stabilize the economy. Republican senator **Cynthia Lummis** has even proposed a bill that would see the U.S. acquire **1 million bitcoins** over five years to address the escalating national debt.

### Market Reactions and Future Outlook

Experts believe that the upcoming year could be historic for digital assets, with speculation that the U.S. may adopt bitcoin as a **national reserve currency**. However, caution remains as analysts warn that unmet expectations could lead to a significant **price crash** if Trump's promises do not materialize.

![Elon Musk and Bitcoin](https://specials-images.forbesimg.com/imageserve/62ab8a66678045577b8819cd/Tesla--Elon-Musk--bitcoin--bitcoin-price--crypto--image/960x0.jpg?cropX1=1300&cropX2=5316&cropY1=291&cropY2=3145)

### Conclusion

As the economic situation evolves, all eyes will be on **Trump's first 100 days** in office to see if he delivers on his ambitious bitcoin plans. Investors are watching closely, as any failure to act may result in a market shake-up.

Elon Musk, the Tesla billionaire, has warned "de facto" bankruptcy will happen in the U.S. without a "fix"...

Elon Musk Warns of U.S. Bankruptcy: A Bitcoin Solution on the Horizon?

## Bitcoin's Kimchi Premium in South Korea

As **South Koreans** face economic uncertainty, the **Kimchi Premium** on **Bitcoin (BTC)** has spiked, with locals paying **3% more** than their U.S. counterparts. This premium reflects a growing desire for **financial security** amidst the **plummeting won**.

Currently, Bitcoin is priced at **145,000,000 won** (approximately **$98,600**) on **Upbit**, South Korea's largest crypto exchange, compared to about **$96,700** on **Coinbase**. This difference highlights the increasing demand for BTC as a hedge against the **won's decline**, which has hit a **15-year low** against the dollar.

## Political Turmoil and Economic Impact

The surge in Bitcoin's price correlates with a recent **political crisis** in South Korea. The parliament voted to impeach **Han Duck-soo**, the prime minister and acting president, just weeks after the impeachment of **President Yoon Suk Yeol**. This political instability is causing significant **economic distress**, as noted by **Jeff Park**, head of alpha strategies at **Bitwise**. He remarked that the situation illustrates the **erosion of trust** in South Korea's **National Election Commission (NEC)** and serves as a warning for democracies globally.

In summary, the **Kimchi Premium** is not just a financial anomaly but a reflection of the broader socio-political landscape in South Korea, driving citizens to seek refuge in cryptocurrency amidst turmoil.

The South Korean won hit the lowest level against the dollar since March 2009.

South Korea's Political Chaos Fuels Bitcoin's Kimchi Premium Surge

## Cryptocurrency Strategic Investments are Reshaping Wall Street

**KULR Technology Group** has made a significant leap into the cryptocurrency space by purchasing **217.18 Bitcoin (BTC)** for approximately **$21 million**, at an average price of **$96,556.53 per BTC**. This investment is part of their newly announced Bitcoin Treasury strategy, which aims to allocate up to **90% of surplus cash to BTC**. The company has chosen **Coinbase's Prime platform** for custody services, marking a strategic partnership in the crypto realm.

This bold investment aligns with a growing trend among publicly traded companies that are integrating **cryptocurrency** into their financial strategies. As Bitcoin continues to hit new all-time highs, driven by potential regulatory changes and increasing institutional adoption, KULR's move is seen as timely. Notably, **MicroStrategy's** recent inclusion in the **Nasdaq 100 index** exemplifies this trend.

### Key Insights
- KULR's investment reflects a broader shift towards **cryptocurrency** as a treasury asset among public companies.
- The decision to allocate a significant portion of cash to BTC indicates strong confidence in the cryptocurrency market, despite its inherent volatility.
- The selection of Coinbase Prime for custody services adds a layer of institutional credibility and security to KULR's investment strategy.

KULR's strategic pivot not only enhances its financial profile but also positions it among forward-thinking corporations embracing the crypto revolution. As the market evolves, companies like KULR are reshaping their futures through innovative financial practices that include **cryptocurrency investments**.

KULR Technology Group diversifies treasury with major crypto investment, purchasing 217.18 Bitcoin via Coinbase Prime as part of strategic plan to allocate 90% of surplus cash to BTC.

KULR Technology's Bold Move: $21M Bitcoin Investment Sparks Wall Street Interest!

# The Journey of Cryptocurrency

The **cryptocurrency journey** is just beginning, marking a significant shift in how we perceive and engage with financial systems. As digital currencies continue to gain traction, they are poised to become a **standard** in the global economy.

## Why Cryptocurrency Matters

Cryptocurrencies like **Bitcoin** and **Ethereum** are not just digital assets; they represent a revolution in how transactions are conducted and how value is stored. With the increasing adoption of these currencies, we are witnessing a fundamental change in our approach to finance.

## The Future of Digital Currency

As more individuals and businesses start to embrace cryptocurrencies, the potential for these digital assets to reshape financial landscapes becomes clearer. The **decentralized** nature of cryptocurrencies provides opportunities for greater **financial inclusion** and transparency, which are crucial for the future of global finance.

![Cryptocurrency Growth](https://images.revcontent.com/revcontent/image/fetch/f_jpg,q_50,h_315,w_420,c_fill,g_faces:auto/pg_1/https://media.revcontent.com/content/images/b98cc87f9f1acf8c37f676707f805fce.png)

## Conclusion

The journey of cryptocurrency is just starting, and its impact on our financial systems will only grow as technology and acceptance evolve. Keep an eye on this dynamic space as it continues to unfold, bringing new possibilities and challenges.


The Rise of Cryptocurrency: A New Standard in Finance

### XRP Price Retreat and SEC Developments
Expectations surrounding the **SEC's appeal** filing have led to a **retreat in XRP's price**, which dropped from a high of **$2.9070** on December 3. SEC Chair **Gary Gensler** will leave his position on **January 20**, but his recent promotion of crypto-enforcement lawyers has solidified his **stance on the crypto industry**.

Incoming SEC Chair **Paul Atkins** faces a challenging environment, needing to navigate between **Trump’s pro-crypto agenda** and the SEC’s enforcement policies. Former SEC Division Chief **John Reed Stark** warns that the crypto fight is just beginning:
> “The Stark reality is that it looks like the crypto-fight is on post-January 20th. So get ready for World War III on day one Chair Atkins... these three crypto-enforcement lawyers... will not roll over easily.”

Despite this, it is important to note that the decision to continue or withdraw the appeal lies with the **SEC commissioners** and not solely with the Chair. There remains potential for a **withdrawal** of the appeal, but ongoing uncertainties continue to pressure **XRP**.

### Bitcoin’s Journey Towards $100k
Bitcoin (**BTC**) has faced challenges in maintaining its momentum, reversing its holiday rally and failing to surpass the **$100k** mark for the seventh consecutive session. On Tuesday, the **US BTC-spot ETF market** experienced its longest outflow streak since September, lasting four days. However, recent flow data indicates a shift in demand with significant inflows:
- **Fidelity Wise Origin Bitcoin Fund (FBTC)**: $254.4 million
- **ARK 21Shares Bitcoin ETF (ARKB)**: $186.9 million

Excluding **BlackRock’s iShares Bitcoin Trust (IBIT)**, total net inflows reached **$418.7 million**, providing potential price support for BTC.

### Bitcoin Price Outlook
On December 26, BTC saw a decline of **3.74%**, closing at **$95,692**. The near-term trends for BTC will heavily depend on the **US BTC-spot ETF flow trends** and any strategic news regarding **bitcoin reserves**. Continued inflows could push BTC towards **$100k**, while outflows and uncertainty regarding BTC as a strategic reserve asset may pull it back toward the **$90,742** support level.

Crypto markets face pivotal moments as SEC’s Ripple decision and BTC-spot ETF flows steer XRP and Bitcoin price trends into 2025.

Ripple Appeal and Bitcoin ETF Trends: What’s Next for XRP and BTC Prices?

### Crypto Bull Market Insights from Jason Pizzino

A prominent analyst, **Jason Pizzino**, has raised concerns about the current state of the **crypto bull market**, suggesting that its end may be closer than many traders believe. In a recent discussion on **X**, where he has over **123,400 followers**, Pizzino pointed out that investor sentiment is indicating a shift towards the end of this bullish cycle.

> _“Bitcoin and crypto ‘end-stage’ emotional volatility has dramatically increased which only suggests we are much closer to the end than the beginning of the cycle. That might seem like an obvious statement now, but wait until the market gets closer to the final top; it won’t be so obvious which is generally a signal within itself.”_

In a video update, Pizzino elaborated on the historical trends, explaining that periods of excitement and overconfidence in the market often lead to stagnation. He remarked:

> _“I think a lot of people believe this cycle should run until the end of 2025, but what if we’re seeing a lot of that excitement come back into the market?”_

He observed that with each price increase, traders become excessively bullish, followed by a pause or correction, suggesting that we should remain cautious.

### Key Observations
- **Bitcoin (BTC)** is currently trading around **$98,900**, showing a slight increase on the day.
- Pizzino's analysis indicates that the leading cryptocurrency could experience sideways trading or corrections until **October 2025**.
- He mentioned:

> _“Looking somewhere [between] Q2 out to Q3, just the beginning of Q4… Most people can’t handle six to 10 months.”_

Pizzino emphasized that the current market behavior reflects the final moves of this cycle, indicating that many traders are reacting strongly to minor fluctuations.

![Crypto Market Sentiment](https://dailyhodl.com/wp-content/uploads/2023/06/Warns-US-Recession-Imminent.jpg)

![Insights by Jason Pizzino](https://pbs.twimg.com/media/GfiO4c2bgAADMvd?format=jpg&name=large)

#### Watch the Full Analysis
[Watch Jason Pizzino's analysis here](https://www.youtube.com/watch?v=2lphV_WTCFQ)


A closely followed analyst says the crypto bull market's end is much closer than most traders realize. In a new thread on the social media platform X, Jason Pizzino tells his 123,400 followers that investor sentiment indicates traders now are closer to the end of the bull market than the start.

Do Kwon's Extradition to the US: What It Means for Cryptocurrency's Future

Summary:

Montenegro's Decision to Extradite Do Kwon

Comments

Subscribe our Newsletter

BitcoinToday.app

Other Latest News

NFTs in 2024: The Rise of Bitcoin Ordinals and Airdrop Frenzy Amid Market Shifts

Elon Musk Warns of U.S. Bankruptcy: A Bitcoin Solution on the Horizon?

South Korea's Political Chaos Fuels Bitcoin's Kimchi Premium Surge

KULR Technology's Bold Move: $21M Bitcoin Investment Sparks Wall Street Interest!

The Rise of Cryptocurrency: A New Standard in Finance

Ripple Appeal and Bitcoin ETF Trends: What’s Next for XRP and BTC Prices?

Is the Crypto Bull Market Nearing Its End? Insights from Analyst Jason Pizzino

Other Latest News

NFTs in 2024: The Rise of Bitcoin Ordinals and Airdrop Frenzy Amid Market Shifts

Elon Musk Warns of U.S. Bankruptcy: A Bitcoin Solution on the Horizon?

South Korea's Political Chaos Fuels Bitcoin's Kimchi Premium Surge

KULR Technology's Bold Move: $21M Bitcoin Investment Sparks Wall Street Interest!

The Rise of Cryptocurrency: A New Standard in Finance

Ripple Appeal and Bitcoin ETF Trends: What’s Next for XRP and BTC Prices?

Is the Crypto Bull Market Nearing Its End? Insights from Analyst Jason Pizzino