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Base Founders Accused of Orchestrating Rug Pull for Rug Token, Prompting Strong Community Backlash

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**Base Co-Founder Jesse Faces Backlash Over Soulja Boy RUG Token Support** On December 15, Base co-founder Jesse took to social media to launch a RUG token for notorious rapper Soulja Boy—tied to pump-and-dump schemes—and provide funding support, sparking fierce backlash from the crypto community. Crypto sleuth ZachXBT questioned: “Why give Soulja Boy a platform to scam new users?” Back in April 2023, ZachXBT revealed: “Soulja Boy is one of the most shameless promoters in the crypto space. My research found he’s participated in 73 promotions and 16 NFT project launches—many of which were scams.” Jesse has also called out several meme coins linked to pump-and-dump activity, including the token tied to the “Base is for everyone” event (which surged to a $20 million market cap before crashing 90%) and his personal token “jesse”—dubbed by the community as Base’s most failed fair launch to date. Tokens backed by Jesse typically see short-term speculative spikes but exhibit volatile long-term performance and returns.
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MetaMask has added support for the Bitcoin network, further advancing its multi-chain process.

December 16 – MetaMask is ramping up its multi-chain expansion, now natively supporting the Bitcoin network, per a report from *The Block*. MetaMask users can now: - Purchase Bitcoin directly with fiat currency - Conduct on-chain Bitcoin network transfers - Swap native EVM assets and SOL for Bitcoin The latest MetaMask version will be the first to support native Segregated Witness (SegWit) addresses, with plans to add Taproot address support “soon.” ConsenSys CEO Joseph Lubin noted in an October interview that the company is advancing MASK token issuance, though a specific launch date has not been confirmed. Additionally, users swapping Bitcoin on MetaMask will earn MetaMask reward points.

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SEC Chairman: Cryptocurrency Could Be a Powerful Tool for Financial Surveillance, But Not at the Cost of Privacy

December 16th, SEC Chair Paul Atkins said there’s a path to balance national security and individual privacy—but warned government overreach could tip the scales too far, per The Block. At the SEC’s sixth cryptocurrency roundtable on Monday, Atkins noted blockchain’s efficiency in linking transactions to senders, cautioning crypto could become “the most powerful financial surveillance architecture ever” if misdirected. “Treat every wallet as a broker, every software as an exchange, every transaction as reportable, every protocol as a monitoring node—and the government will turn this ecosystem into a financial panopticon,” Atkins stated. But he emphasized ways exist to balance innovation and privacy: “I firmly believe we can build a framework where technological progress and financial development don’t come at the expense of individual freedoms.”

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Federal Reserve's Williams: Supported Last Week's 25 Basis Point Rate Cut, but Next Move Still Uncertain

December 16 – Federal Reserve official John Williams said Monday that last week’s Fed rate cut was the right call, but the central bank’s next policy steps remain unclear. Speaking to reporters at an event in Jersey City, New Jersey, Williams noted he “strongly supported” the decision to lower the Fed’s benchmark interest rate by 25 basis points. Looking ahead to the Fed’s January 27-28 policy meeting, he added: “We’ll wait and gather all relevant economic data — it’s still too early to determine our next monetary policy move.” (FX678)

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Trump: Now Closer Than Ever to Achieving a "Peace Agreement"

Local time on December 15, U.S. President Donald Trump said he had a "very good conversation" with European leaders that day, with much of the discussion centered on the Russia-Ukraine conflict. They held a lengthy discussion on the issue, and things "seemed to be progressing well." Trump noted they are closer to a Russia-Ukraine peace agreement now more than ever. Trump also mentioned he has held multiple conversations with Russian President Vladimir Putin and received strong support from European leaders. All parties are hopeful to end the conflict. Trump stated it is necessary for Ukraine and Russia to reach an agreement, adding that progress is currently going well and the discussions have been effective. (Source: FXStreet)

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Nasdaq to Officially Apply for "5X23" Trading Hours

December 16th — Nasdaq is reportedly set to file with the U.S. Securities and Exchange Commission (SEC) on Monday to launch a 5-day-a-week, 23-hour-a-day trading service for stocks and exchange-traded products (ETPs), extending beyond its current 5-day, 16-hour schedule. The new "5X23" framework will include two core trading windows: - **Daytime Session**: Runs 4 a.m. to 8 p.m. Eastern Time (ET), covering pre-market, regular, and after-hours trading. The regular session’s 9:30 a.m. opening and 4 p.m. closing bells remain unchanged. - **Overnight Session**: Operates 9 p.m. ET to 4 a.m. ET the next day. Trades between 9 p.m. and midnight ET count toward the next calendar day’s activity. Trading week timeline: Starts Sunday 9 p.m. ET, ends Friday 8 p.m. ET (post-Daytime Session). Source: Jinse Finance

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The SEC Cryptocurrency Task Force's roundtable discussion on Financial Surveillance and Privacy has begun

On December 16, the SEC officially announced that a roundtable discussion on financial monitoring and privacy — hosted by its cryptocurrency working group — took place today at 1:00 p.m. Eastern Time (2:00 a.m. Beijing Time).

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