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🔔 MARKET MOVING NEWS! (21/12/24)

1️⃣ Tether To Make $775 Million 'Strategic Investment' In Video-Sharing Platform Rumble 💰

Stablecoin issuer Tether reportedly made a “strategic investment” of $775 million into YouTube alternative platform Rumble. Coincidentally, the move comes after Rumble announced last month that it would allocate up to $20 million of its excess cash reserves to BTC.

Addressing the investment, Tether CEO Paolo Ardoino stated,

Tether deeply believes in the fundamental values of freedom of speech and financial freedom. Our strategic investment in Rumble greatly underscores Tether’s focus in supporting technology and companies that empower humans, delivering independence and resilience to our society. We truly love what Chris Pavlovski and his team built and we look forward to collaborate on a shared vision.

2️⃣ Hawk Tuah Influencer Speaks Out After Memecoin Rug Pull Allegations
Haliey Welch, the influencer behind the viral “Hawk Tuah” meme, has posted for the first time in nearly two weeks on the social media platform X. For context, this is notable since Hailey’s inactivity on socials followed accusations that she pumped and dumped a memecoin on her fans. Notably, her recent return comes just a day after her team received a lawsuit alleging the memecoin HAWK violated federal securities laws. 

Haliey’s tweet states,

I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community. I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter.

3️⃣ Restaking Protocol EigenLayer's Slashing Testnet Now Live ‼️

Restaking protocol EigenLayer’s slashing testnet reportedly went live yesterday. A mainnet launch is pending approval of the EigenLayer Improvement Protocol-002 (ELIP-002). The slashing upgrade seeks to introduce Unique Stake Allocation for node operators and Operator Sets for Actively Validated Services (AVS) on EigenLayer. Unique Stake Allocation lets restaking operators minimise slashing risks by designating portions of their staked funds as a “Unique Stake” subject to slashing from only one AVS. This protects the staked capital from unrelated tasks or Actively Validated Services.

4️⃣ Luigi Mangione Lands in Same Jail as Diddy, Sam Bankman-Fried 🔒

Luigi Mangione, the suspect in the murder of UnitedHealth Group CEO Brian Thompson, is reportedly being housed at the Metropolitan Detention Center in Brooklyn. Notably, this is the same facility in which other high-profile inmates such as ex-FTX CEO Sam Bankman-Fried and music producer Sean “Diddy” Combs are being detained.

5️⃣ Copper Withdraws UK Crypto Authorisation Bid in Strategy Shift

According to a Bloomberg report, crypto custodian Copper Technologies Ltd. has withdrawn its application to register with the UK’s Financial Conduct Authority (FCA). The firm, chaired by former UK Chancellor of the Exchequer Philip Hammond, announced that it would shift its focus to overseas hubs under its new chief executive officer, Amar Kuchinad. Its former CEO Dmitry Tokarev, who started the business in 2018, stepped down in October.

Amar Kuchinad stated,

Refining Copper’s global growth strategy has been my priority since joining, and this has necessitated key decisions on our direction and approach.

6️⃣ Tornado Cash Dev Wants Charges Dropped Because Sanctions Deemed Illegal ❓

Tornado Cash co-founder Roman Storm has reportedly filed a motion to dismiss the charges brought against him relating to his role in creating the crypto mixing service. Specifically, Storm’s motion cites the Fifth Circuit’s recent ruling which held that the Treasury's Office of Foreign Assets Control (OFAC) overstepped its authority by sanctioning Tornado Cash’s immutable smart contracts. The ruling recognised that autonomous software that no one controls cannot be classified as property