The Shib News Recap: Friday

Today’s top cryptocurrency headlines are focused on developments affecting regulatory scrutiny, potential Bitcoin trends in 2025, and the biggest crypto heists in December 2024.

Recent Developments That Can Impact Regulatory Shifts

Since its launch in September, the Tron T3 Financial Crime Unit, in partnership with Tether and TRM Labs, has frozen $100 million in USDT. The unit focuses on detecting and preventing illegal activities involving the stablecoin. It has reviewed millions of transactions globally and recently tracked over $3 billion in USDT transactions. Investigations have uncovered connections to North Korean operatives, with around $3 million in USDT possibly funding the regime’s activities.

As for updates on Do Kwon’s case, the co-founder of Terraform Labs faces a new money laundering charge. A superseding indictment was revealed on January 2 in the U.S. District Court for the Southern District of New York. Attorney Damian Williams claims Kwon facilitated transactions over $10,000 linked to illegal activities, knowing they were proceeds from unlawful actions. This case mirrors the prosecution of Sam Bankman-Fried who also faced extradition after being detained abroad.

Analyst’s Bitcoin Predictions

Mike Colonnese from H.C. Wainwright & Co. predicts a significant Bitcoin rally in 2025, and it could potentially reach $225,000. This increase is expected due to better regulatory clarity and more institutional involvement. His forecast follows a trend of rising Bitcoin predictions after the 2024 U.S. presidential election. Colonnese warns, however, that Bitcoin often experiences sharp corrections and there may be dips of up to 30%.

December 2024 Biggest Crypto Heists

Blockchain security firm PeckShield recently reported 25 hacks in the crypto sector in December 2024, with total losses reaching $24.7 million. The attacks targeted DeFi platforms and exchanges among other areas. Among these incidents, five hacks were responsible for most of the losses. LastPass suffered the biggest hit as a breach from 2022 resulted in the theft of about $12.38 million in crypto.

Malaya has positions in SHIB, ETH, USDT, MATIC, etc. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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