Welcome to our 202nd issue of State of the Market, where we provide an overview of crypto market activity from December 12 – December 18, 2024.
This week in crypto markets:
- Circle and Binance partner to expand USDC stablecoin across Binance’s platforms, with Binance also adopting USDC for corporate treasury
- Ripple’s RLUSD stablecoin gains approval from New York’s Department of Financial Services, positioning it to compete with Tether and USDC
- Anchorage Digital obtains a BitLicense in New York, enabling secure institutional crypto trading services in the financial capital
- HYPE airdrop claims title of largest in crypto history, with ~270 million tokens valued at $7.6B claimed, token price has tripled to $9B market cap
- Peanut the Squirrel’s caretaker issues cease-and-desist to Binance over PNUT meme coin, citing intellectual property infringement
- Google announces new quantum computing chip, but experts note current capabilities are still far from threatening crypto encryption
Brought to you by coinmetrics.io
