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  • 12/20/24: Crypto Is Taking Over Wall Street 📈🗽💦

12/20/24: Crypto Is Taking Over Wall Street 📈🗽💦

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Top News

  1. SEC approves Hashdex and Franklin dual Bitcoin-Ethereum ETFs

  2. World Liberty Financial adds $2.5M to Ethereum holdings

  3. Hawk Tuah memecoin partners face lawsuits over rug pull

Specs’ Insights

1. SEC approves Hashdex and Franklin dual Bitcoin-Ethereum ETFs

⌐◪-◪ → Another crypto ETF is here!

The SEC has approved dual Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton, marking another step forward for institutional crypto adoption.

These ETFs, the Hashdex Nasdaq Crypto Index US ETF and Franklin Templeton Crypto Index ETF, will initially focus on Bitcoin and Ethereum with an 80/20 average weighting, but they leave room for future additions.

Franklin Templeton’s ETF received accelerated approval for meeting commodity trust standards, showing how the ETF market is gaining momentum under regulatory scrutiny.

With Bitcoin ETFs already setting records as the fastest-growing ETFs in history, it’s clear that crypto exposure is becoming easier for institutional and retail investors alike.

2025 is shaping up to be the year of ETF expansion — and with pending filings piling up, the race for market share is heating up fast. Check out the full list of filings here.

2. World Liberty Financial adds $2.5M to Ethereum holdings

⌐◪-◪ → Trump is an ETH bull!

World Liberty Financial, the crypto initiative backed by the Trump family, just scooped up $2.5M worth of ETH, bringing their total Ethereum holdings to 15,595 ETH — worth $53.61M today.

The purchase, made through Cow Protocol, shows World Liberty doubling down on ETH, which now dominates their portfolio at 67.57%. Other holdings include WBTC (13.17%), USDC, USDT, and smaller allocations in AAVE and LINK.

This move comes shortly after they swapped CBBTC for WBTC amidst the ongoing Coinbase vs. Justin Sun legal drama, signaling confidence in Ethereum’s role in their strategy.

As Trump prepares to take office, his backing of ETH could inject fresh energy into the asset. Looks like Trump might just MEGA (Make Ethereum Great Again).

3. Hawk Tuah memecoin partners face lawsuits over rug pull

⌐◪-◪ → Hawk Tuah just did herself dirty (or did she?)

Haliey Welch, the face of the "Hawk Tuah" meme, is at the center of the HAWK memecoin collapse—but notably isn’t named in the recent lawsuits filed in New York.

The lawsuit instead targets Welch’s business partners, “overHere” (the token’s launchpad), and others for insider dumping, holding over 90% of the supply, and misleading promotions. The token plummeted 90% just hours after launch.

Welch’s silence on social media since the collapse has been deafening. Meanwhile, her partners are pointing fingers at Alex Larson Schultz (aka Doc Hollywood), accusing him of mismanaging the token.

The plaintiffs seek $151,250 in damages while alleging a broader trend in crypto: celebrities being exploited to front questionable projects that leave everyday investors holding the bag.

Wake up, Haliey. It’s time to talk Tuah lawyer.

Everything Else

📈 Market Snapshot

⛓️ Crypto & DeFi

🏦 Wall Street & VC

🏛️ Legal & Regulatory

🌎 Rest Of The World

🖼️ NFTs & Metaverse

  • Doodles hints at token, floor price surges 61%

  • BONK memecoin gets listing on Robinhood

  • Formula 1 renews multi-year deal with Crypto.com

  • Worldshards launches in-game economy with pre-TGE airdrops

  • TON Space introduces self-custody wallet

  • MemeBattle launches meme-based game on Base

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