What Happened In Crypto Market: Why is the crypto market down today
Metaplanet Expands Bitcoin Holdings to $168M
Japanese-listed company Metaplanet has bolstered its cryptocurrency reserves with the purchase of an additional 619.7 BTC, valued at approximately $59 million. This acquisition brings the company’s total Bitcoin holdings to 1,761.98 BTC, now worth an estimated $168 million. The move underscores Metaplanet’s confidence in Bitcoin as a strategic asset, highlighting the growing adoption of cryptocurrencies among institutional investors in Japan and beyond.
El Salvador Ramps Up Bitcoin Accumulation
El Salvador has intensified its Bitcoin investment strategy, adding 29 BTC worth $2.84 million in the past week. This purchase boosts the nation’s total holdings to 5,995 BTC, valued at approximately $562 million. As the first country to adopt Bitcoin as legal tender, El Salvador continues to reinforce its commitment to cryptocurrency as a key component of its financial strategy, aiming to solidify its position in the global digital economy.
Trump Appoints Bo Hines to Lead Crypto Council
Donald Trump has appointed former college football player and politician Bo Hines as executive director of the new “Presidential Council of Advisers for Digital Assets,” or “Crypto Council.” Announced on Dec. 22 via Truth Social, the council will be led by crypto and AI czar David Sacks. Hines, alongside Sacks, aims to drive innovation in digital assets. Additionally, ex-a16z partner Sriram Krishnan will serve as senior AI policy adviser.
Jump Crypto Subsidiary Tai Mo Shan Settles with SEC for $123M Over TerraUSD Incident
Tai Mo Shan, part of Jump Crypto, agreed to a $123M SEC settlement over its role in stabilizing TerraUSD (UST) during its 2021 depeg. The SEC found the firm’s $20M UST purchases misled investors about the algorithmic stability of UST. This includes $86M disgorgement and $36M civil penalties, amid ongoing regulatory scrutiny of stablecoins post-UST collapse.
Trump Names Stephen Miran Chair of Economic Advisors
On December 22, President-elect Trump appointed Stephen Miran as Chairman of the Council of Economic Advisers to guide economic policy for his administration. Miran, a former senior Treasury adviser, emphasizes deregulation to foster innovation. Expressing gratitude, he stated his commitment to advancing a thriving, stable economy. The crypto community welcomed Miran’s nomination, praising his progressive views on digital assets and innovation.
Interpol Issues Global Red Notice for Hex Founder Richard Heart
Interpol has issued a Red Notice for Richard Schueler, also known as Richard Heart, founder of Hex, on charges of tax fraud and assault. Finnish authorities allege Schueler assaulted a minor and evaded taxes between 2020 and 2024. Listed on Europe’s most wanted fugitives, the notice follows a September remand order. A Red Notice requests international cooperation to locate and provisionally detain the accused.
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Money Dogs Listing And TGE Postponed: What’s Next for $MDOGS?
