North Dakota Takes First Steps Towards State Bitcoin Reserve

The WazirX hack led to a $235 million crypto theft, prompting discussions on industry security. Users affected by the hack are calling for enhanced security measures to prevent missing out on selling opportunities during the bullish market.

Rep. French Hill (R-Ark.) has been chosen by House Republicans to lead the Financial Services Committee, a key role for the crypto industry's legislative efforts next year. Hill, a vocal crypto advocate, has championed various crypto bills and will focus on banking access concerns for crypto firms.

BlackRock's iShares Bitcoin Trust ETF has reached $53.8 billion in assets, with the asset manager recommending a maximum 2% Bitcoin portfolio allocation due to its volatility and unique characteristics. The report suggests Bitcoin's role in portfolios and its reliance on adoption for price growth.

A bill introduced in the Texas legislature aims to establish a Bitcoin strategic reserve, allowing citizens to donate funds for a state-held supply of Bitcoin. The proposed program aligns with Texas's focus on digital asset innovation and financial security.

The Avalanche Foundation raised $250 million through a locked sale of AVAX tokens for the upcoming Avalanche9,000 network upgrade. Over 40 venture capital firms, including Galaxy Digital and Dragonfly, participated in the sale, aiming to advance the decentralized finance ecosystem.

Superform has launched SuperUSDC, a high-yield product for earning on Circle's stablecoin. SuperVaults automatically allocate assets for yield opportunities based on user feedback and data.

Babylon Chain has attracted over 36,100 BTC deposits worth $3.63 billion from nearly 88,000 unique depositors. In just 48 hours, $1.2 billion in Bitcoin deposits were made, with a significant increase in unique depositors. The protocol integrates Bitcoin's security features into other blockchain ecosystems.

Nvidia's motion to dismiss an investor-led class-action lawsuit alleging understating of crypto mining-related GPU sales was rejected by the Supreme Court, allowing the lawsuit to proceed. The lawsuit, initially dismissed in March 2021, was revived following comments from the U.S. Solicitor General and SEC senior lawyer supporting investor claims.

Brian Quintenz, a former CFTC commissioner and current policy lead at Andreessen Horowitz's crypto division, is a top candidate to lead the agency. Other contenders include current CFTC Commissioners and legal experts. Quintenz's experience includes overseeing the launch of regulated Bitcoin and Ethereum futures contracts.

Kraken, based in San Francisco, is fined $5.1 million by Australia's financial watchdog for offering illegal margin trading to retail customers through its local operator Bit Trade. The Federal Court of Australia detailed the violations, highlighting negligence and profit-driven motives.