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Your Daily Digest of the 🔥Hottest News in Crypto

Today's top stories:

👉 Paul Atkins to replace Gensler as SEC chair

🐂 Can bulls keep the momentum with altcoins?

🎧 MicroStrategy's BTC plan is more sensible than you think

📰 Keep reading to find out more about all of today's top stories

Trump nominates Paul Atkins to replace Gensler as SEC chair

The president-elect called Atkins a "proven leader for common sense regulations" due to his prior experience as an SEC commissioner.

In a Dec. 4 announcement, Trump highlighted Atkins' track record and experience as a former SEC commissioner. Trump wrote via Truth Social:

"Paul is the CEO and Founder of Patomak Global Partners, a risk management consultancy. As Co-Chairman of the Digital Chamber's Token Alliance since 2017, he has worked on and studied the digital assets industry."

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IcomTech promoter sentenced to 10 years in prison

David Brend, convicted of conspiracy to commit wire fraud for promoting cryptocurrency mining and trading firm IcomTech, has been sentenced to 10 years in prison.

In a Dec. 2 hearing in the United States District Court for the Southern District of New York, Judge Jennifer Rochon ordered Brend to serve 120 months at the Federal Prison Camp in Pensacola, Florida. He is expected to pay $40,000 in forfeiture and surrender to prison authorities on Dec. 16.

[Cointelegraph Acceleration]

To the future with account abstraction: X Spaces recap with Plena Finance

One of the goals of account abstraction is to make DeFi easier for the masses. This project uses account abstraction to create a Web3 super app.

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Altcoin funding rates hit 9-month high — Bullish for altseason or a red flag?

Hedera, Stellar, XRP, Algorand and Cardano rallied 250% in 30 days. Is a price correction looming?

A select group of altcoins has seen remarkable gains exceeding 250% in the past 30 days, including Hedera. This rapid surge has left traders questioning the rally's sustainability and looking for indicators of a potential correction.

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Bitcoin finds a new purpose in DeFi through new mining-backed model

This project bridges Bitcoin and DeFi to provide investors with an innovative way to utilize their BTC holdings in a system backed by mining operations.