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  • Crypto Alpha - 2 December 2024

Crypto Alpha - 2 December 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • Ripple’s Chief Legal Officer Calls Out the Regulators’ Sneaky Tactics

  • DMM Bitcoin Calls It Quits, Passes the Torch to SBI Group

  • Michael Saylor Wants Microsoft to Go Full Bitcoin

  • Trump’s Election Win Gave Crypto a $1.2 Trillion Glow-Up

  • A Trump Comeback Could Be Crypto’s Legal Break

  • XRP Flexes Hard, Beats USDT and Solana in Market Cap

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Alpha of the Day

Ripple’s Chief Legal Officer isn’t holding back, accusing U.S. regulators of pulling off a stealth attack on crypto through subtle banking policies. He claims these "quiet moves" are aimed at suffocating the industry without openly admitting it. Imagine the banking equivalent of a shadowy ninja, silently throwing stars at your DeFi dreams. According to Ripple, this strategy is all about making crypto innovation more difficult, leaving industry players feeling boxed in. The crypto community, however, isn’t ready to wave the white flag just yet, with Ripple leading the fight to call out these behind-the-scenes plays.

DMM Bitcoin Calls It Quits, Passes the Torch to SBI Group

DMM Bitcoin is officially shutting down its operations and handing over the reins to subsidiaries of the SBI Group. It’s like passing the last slice of pizza at a party—reluctant but necessary. The platform cites operational challenges as a key reason for its exit, though industry insiders speculate that regulatory pressures also played a role. As the baton is passed, SBI Group seems eager to step in, possibly with plans to revitalize the business. DMM users are now left wondering what’s next, and whether the SBI crew will spice things up or keep things plain cheese.

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Michael Saylor Wants Microsoft to Go Full Bitcoin

Michael Saylor has another bold idea, and this time, it’s for Microsoft: make Bitcoin a core part of its corporate strategy. He’s basically asking Microsoft to go all-in on BTC, possibly adding a touch of crypto magic to Windows updates (Blue Screen of Death? More like Blockchain of Dreams). Saylor argues that Bitcoin would not only future-proof Microsoft but also align with its innovative legacy. It’s a pitch that screams “be the leader, not the follower,” but whether Satya Nadella will take the bait remains to be seen.

Trump’s Election Win Gave Crypto a $1.2 Trillion Glow-Up

When Trump clinched the presidency, the crypto market saw a jaw-dropping $1.2 trillion expansion. It’s like the crypto world collectively put on a MAGA hat, but for speculative gains. Analysts suggest that this surge was fueled by optimism around deregulation and pro-business policies. The appetite for speculation hasn’t cooled since, proving that when it comes to risk, the market is always hungry. While some see this as a Trump-induced crypto honeymoon, others warn it’s just another bubble waiting to pop.

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A Trump Comeback Could Be Crypto’s Legal Break

The Wall Street Journal reports that if Trump returns to the White House, the SEC might hit the brakes on its relentless pursuit of crypto exchanges. This could be a game-changer for the industry, which has been grappling with heavy-handed enforcement under the current administration. Crypto enthusiasts are already fantasizing about a regulatory landscape that feels less like a minefield. However, critics worry that easing up on legal scrutiny might open the floodgates for bad actors. Either way, a Trump crypto détente is a spicy possibility to watch.

XRP Flexes Hard, Beats USDT and Solana in Market Cap

XRP just hit a new milestone, overtaking both USDT and Solana in market capitalization to secure the coveted third spot among cryptocurrencies. Ripple fans are popping champagne (or maybe just XRP-themed merch) to celebrate this triumph. This rise in rank isn’t just about numbers; it’s a statement that Ripple isn’t just surviving—it’s thriving. While Solana and USDT are left licking their wounds, XRP is basking in the glory of its new title. The only question now is: can it close the gap on Ethereum? Stay tuned for the next episode of Crypto Thrones: XRP Ascends.

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