Binance secures full ADGM authorization for exchange, custody, and broker-dealer services

In the past six months, five banks have approved Bitwise exchange-traded products (ETPs) for wealth management, indicating a growing acceptance of cryptocurrency in traditional finance. This move is seen as a significant step towards integrating digital assets into mainstream investment portfolios.

The US Treasury Department has proposed a significant overhaul of anti-money laundering (AML) oversight by centralizing it under the Financial Crimes Enforcement Network (FinCEN). This move aims to enhance the efficiency and effectiveness of combating financial crimes, which could have a substantial impact on global banking practices.

Crypto analyst Cryptollica has identified a potential breakout phase for XRP, suggesting that the altcoin may be mirroring the structural pattern observed before its significant rally in 2017. Current price action is centered around $1.95, with targets projected between $9 and $13, as XRP trades at approximately $2.0892. This analysis is based on a long-range log chart from Binance, outlining mirrored cycles from 2014-2017 and 2021-2025.

American Bitcoin Corp has acquired an additional 416 BTC, increasing its total holdings to 4,783 BTC. This strategic move comes amidst recent volatility in the company's stock price, which has seen significant fluctuations due to market pressures and the unlocking of private placement shares.

Andrew Tate engaged in a discussion on social media with Binance founder Changpeng Zhao regarding Bitcoin's market liquidity after a significant purchase of 10,624 BTC by Strategy, which had minimal impact on prices. Tate expressed skepticism about Bitcoin's stability and questioned its value as an investment.

A significant surge in Bitcoin's price could lead to the liquidation of approximately $1.2 billion in short positions if it reaches $95,076, potentially triggering forced buy-ins that would amplify market volatility and drive prices even higher.

Tether's USDT stablecoin has been designated as an Accepted Fiat-Referenced Token by Abu Dhabi's ADGM, allowing its use across multiple blockchains including Aptos, Celo, Cosmos, and others. This regulatory recognition expands Tether's previous approvals and enhances its operational capabilities in the region.

Binance co-CEO Yi He's WeChat account was hacked on December 9, resulting in the unauthorized promotion of a memecoin named MUBARA by scammers. This incident underscores the increasing security risks faced by high-profile cryptocurrency executives in the Web2 environment.