Web3🌕Monday Buzz: XRP's Rise, Bitcoin ETFs Boom, and a $305M Crypto Hack
1️⃣ Saylor urges Microsoft to embrace Bitcoin for profit boosts.
2️⃣ XRP climbs to 3rd in crypto rankings, surpassing USDT.
3️⃣ DMM Bitcoin shuts down after $305M hack.
4️⃣ Bitcoin ETFs hit $6.4B inflows amid record rally.
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The Web3 world is buzzing with action! XRP climbs to the third-largest crypto by market cap, Bitcoin ETFs attract $6.4 billion in record-breaking inflows, and DMM Bitcoin faces a $305M hack. Meanwhile, bold strategies like Michael Saylor urging Microsoft to embrace Bitcoin could redefine corporate finance. Stay tuned as we unravel the latest trends shaping the blockchain space.
1. Saylor urges Microsoft to embrace Bitcoin for profit boosts.
Michael Saylor, co-founder of MicroStrategy, proposed a bold Bitcoin strategy to Microsoft's board, claiming it could unlock $5 trillion in value by 2034. Speaking at Microsoft’s shareholder meeting, Saylor detailed how converting $200 billion in capital distributions into Bitcoin could boost annual returns from 10.4% to 15.8% and reduce enterprise risk. Describing Bitcoin as the "universal, perpetual, profitable merger partner," Saylor highlighted its 62% annual return rate compared to Microsoft’s 18%, emphasizing its resistance to counterparty and geopolitical risks. His pitch positions Bitcoin as a transformative asset for Microsoft's treasury strategy, promising unparalleled growth and financial resilience.
Vince Dioquino
2. XRP climbs to 3rd in crypto rankings, surpassing USDT.
XRP has soared 30% in the past 24 hours, extending its weekly and monthly gains to 68% and 379%, respectively, and securing its spot as the third-largest cryptocurrency by market cap. With a market cap of $140 billion, XRP has overtaken Solana (SOL) and Tether (USDT), while surpassing its 2021 all-time high price of $1.96. Driving this surge are reports of the New York Department of Financial Services nearing approval for Ripple’s stablecoin (RLUSD) and the potential impact of SEC Chairman Gary Gensler’s resignation, which could lead to a settlement in Ripple’s ongoing legal case. Analysts are optimistic, predicting further growth.
John Kumi
3. DMM Bitcoin shuts down after $305M hack.
Japanese crypto exchange DMM Bitcoin will close in March 2025, transferring assets to SBI VC Trade following a $305M hack in May. Hackers stole 4,502.9 BTC, forcing the exchange to restrict withdrawals and spot trading. The prolonged impact prompted the decision to prevent further harm to customers. North Korea's Lazarus Group is suspected of involvement, with funds reportedly laundered through Cambodian firm Huione Guarantee. SBI VC Trade will take over DMM Bitcoin’s 14 crypto assets, ensuring continuity for users. DMM apologized for the disruption, emphasizing efforts to protect customer interests. #CryptoNews #DMMBitcoin #Cybersecurity
Callan Quinn
4. Bitcoin ETFs hit $6.4B inflows amid record rally.
In November, U.S. spot Bitcoin ETFs saw $6.46 billion in inflows, spurred by a 45% price rally in Bitcoin, which hit $99,000. BlackRock’s iShares Bitcoin Trust led with $5.6 billion, making up nearly 87% of total inflows. Other key players included Fidelity, Grayscale, and VanEck. Despite some outflows from funds like Grayscale’s Bitcoin Trust, investor sentiment remained strong, as shown by the Crypto Fear & Greed Index reaching a yearly high of 92. As Bitcoin enters a price discovery phase, analysts predict continued bullish momentum and opportunities for further growth.
Arijit Sarkar
The Web3 universe continues to evolve, blending groundbreaking opportunities with new challenges. From XRP's ascent to Bitcoin ETFs smashing records, it's clear that crypto's influence is unstoppable. As giants like Microsoft weigh bold strategies and security remains a pressing concern, the future of blockchain innovation promises both excitement and caution. Stay ahead of the curve—keep exploring, learning, and investing wisely.
