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Sheila Warren, CEO of the Crypto Council for Innovation (CCI) since its founding, announced that she will step down from her position in January after three years of leadership. During her tenure, Warren faced challenges such as Cryptocurrency market declines, regulation of the industry under SEC Chairman Gary Gensler, and the adoption of new legislation. In addition to having witnessed historical highs in the value of Bitcoin.
«When she took on the role of CCI’s first CEO three years ago, it was a different time: before the FTX debacle and just as Gary Gensler’s attacks on the industry began. “I am incredibly proud of the team and CCI’s accomplishments in such turbulent times,” Warren stated in a post on X.
I am filled with mixed emotions as I share that I will be stepping down as the inaugural CEO of @crypto_council in January. The incomparable @_JiKim will be stepping into a new role as President and Acting CEO of CCI, and I will provide support as Senior Global Policy Advisor.…
— Sheila Warren (@sheila_warren) December 13, 2024
Warren, who previously led the World Economic Forum’s blockchain team and was an attorney at Cravath, Swaine & Moore LLP, anticipates her next professional chapter will focus on “driving innovation and impact on an even larger scale.”
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PEPE merchant transforms USD 27 into USD 52 million
A cryptocurrency investor achieved a staggering return by turning $27 in the PEPE memecoin into a $52 million fortune. As revealed by the blockchain analysis firm Lookonchain.
The trader, identified as a “dormant whale,” transferred 2.1 billion PEPE tokens to a new address after 600 days of no activity. This trade highlighted an incredible 1,900,000x return on your initial investment.
Despite lacking intrinsic utility, memecoins like PEPE continue to surprise, creating millionaires overnight. In 2024, PEPE has established itself as the second best performing cryptocurrency, up 1,600% so far this year.
This phenomenon reaffirms the attractiveness of memecoins in the market. Meanwhile, analysts suggest that PEPE could become the “king” of the current bull rally, emulating the impact of Dogecoin in previous cycles.
Japan studies the possibility of creating a Bitcoin Strategic Reserve
Japanese legislator Satoshi Yamada has asked the Japanese government to evaluate the viability of establishing a Strategic Bitcoin Reserve (SBR), in line with similar initiatives recently promoted in the United States after Donald Trump’s electoral victory.
In a formal consultation presented on December 11, Yamada highlighted how this measure could strengthen Japan’s financial markets and economic position. He also proposed converting part of the country’s foreign exchange reserves into crypto assets such as Bitcoin, noting: “I think this matter should be studied and I would like to hear the government’s opinion.”
The Japanese proposal coincides with a global push to adopt Bitcoin reserves, led by states such as Pennsylvania and Texas, which are already working on legislation for this purpose. According to Dennis Porter, director of the Satoshi Action Fund, at least ten states in the United States are preparing similar projects.
Coinbase Faces $1 Billion Lawsuit Over Wrapped Bitcoin Delisting
Coinbase has been sued by BiT Global Digital, alleging anti-competitive behavior following the delisting of Wrapped Bitcoin (WBTC) in November. The lawsuit, filed on December 13, seeks compensation of more than $1 billion, accusing Coinbase of promoting its own token, Coinbase BTC (cbBTC), at WBTC’s expense.
Paul Grewal, Coinbase’s chief legal officer, responded to the criticism by defending the exchange’s listing practices. “When an asset no longer meets our listing standards, we discard it. “When another asset can meet or exceed market requirements without sacrificing those standards, we will list it.” Grewal stated in a post on X.
When an asset no longer meets our listing standards, we will drop it. When another asset can meet or exceed market requirements without sacrificing those standards, we will list it. Thank you Bit Global for the chance to show this to a US federal court and on the entire global… https://t.co/OulfJhhrCd
— paulgrewal.eth (@iampaulgrewal) December 13, 2024
The exclusion of WBTC has generated mixed reactions in the industry. Figures such as Justin Sun, founder of Tron, questioned the transparency of the process and pointed out a possible contradiction with previous statements by Coinbase CEO Brian Armstrong.
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