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  • 12/25/24: Russia Uses BTC To Dodge Sanctions 🇷🇺😡🦛

12/25/24: Russia Uses BTC To Dodge Sanctions 🇷🇺😡🦛

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Top News

  1. Russia says it is using Bitcoin for international payments

  2. Sam Bankman-Fried pardon rumors spark outrage

  3. Official 𝕏 account declares Moo Deng the meme of the year

Specs’ Insights

1. Russia says it is using Bitcoin for international payments

⌐◪-◪ → Bitcoin adoption continues.

Russian companies are now using Bitcoin and other cryptos for international payments under a new law that allows them to use locally mined Bitcoin to bypass Western sanctions, according to Russian Finance Minister Anton Siluanov.

Siluanov also stated that these types of transactions should be expanded and further developed.

This comes as Russia bans crypto mining in ten regions due to energy shortages, but neighboring countries like China and Turkey continue to embrace it, steering clear of U.S. regulators.

Putin even chimed in, calling Bitcoin “untouchable” while accusing the U.S. of damaging the dollar’s reputation.

This is yet another example of how decentralized, permissionless currencies like Bitcoin are becoming a key tool in global commerce. Slowly but surely, more companies and countries will adopt crypto for international payments because it’s simply easier.

Maintaining privacy in a world of Bitcoin’s public ledger is going to become increasingly important.

2. Sam Bankman-Fried pardon rumors spark outrage

⌐◪-◪ → Is Biden going to pardon SBF?

Rumors are swirling that Joe Biden might pardon Sam Bankman-Fried.

Why? SBF was the second-largest Democratic donor after Soros, funding campaigns with millions in stolen customer funds, and his parents are deeply connected to the Democratic Party.

While this is purely a rumor, it’s gaining attention, with Elon Musk saying, “I’ll be shocked if this didn’t happen.”

Polymarket gives the pardon a 6% chance, meaning it’s highly unlikely. For context, SBF’s odds of being pardoned are the same as Ross Ulbricht’s (6%).

Meanwhile, Diddy’s odds of being pardoned are looking even worse, sitting at 1-2%.

3. Official 𝕏 account declares Moo Deng the meme of the year

⌐◪-◪ → 𝕏 loves Moo Deng!

Your favorite baby hippo memecoin just won “Top Meme of the Year” on Twitter.

This type of recognition for a memecoin feels surreal and is yet another sign of how much things have changed under Elon Musk’s ownership of Twitter.

Whether this is a good or bad thing? I think that’s a personal decision.

Still, it’s undeniable that people love this lil hippo. If you haven’t yet, just Google Moo Deng and prepare to be amazed.

The whole internet seems to be pulling out the stops for Moo Deng. This lil hippo is taking the world by storm.

Everything Else

  • Bitcoin → $98,740.83 ▲ 1.84% (24h)

  • Ethereum → $3,494.45 ▲ 1.14% (24h)

  • XRP → $2.29 ▲ 0.63% (24h)

  • Solana → $198.69 ▲ 1.95% (24h)

  • BNB → $709.67 ▲ 2.42% (24h)

⛓️ Crypto & DeFi

🏦 Wall Street & VC

🌎 Rest Of The World

  • Turkey cracks down on crypto with new customer identification law

  • Singapore pulls ahead of Hong Kong in race to be crypto hub

  • Six Bitcoin mutual funds set to launch in Israel next week

  • Hong Kong crypto ETFs expected to see ‘substantial growth’ in 2025

  • North Korea used LinkedIn to steal $305 million from Japan's DMM Bitcoin

  • Hack of Japanese exchange DMM pinned on North Korea

🖼️ NFTs & Metaverse

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