rewrite this title Ohio goes bullish: Bitcoin in the treasury

Plus: Phishing attacks target Ledger users

GM. Every day’s a smoothie here at the Daily Squeeze – we blend crypto’s wild fruits into a sip-worthy mix.

🗣 Talks about strategic Bitcoin reserves are getting louder across the globe.

🍋 News drops: scammers are targeting Ledger users, Joe Biden supports a ban on stock trading for members of Congress + more

🍍 Market flavor today

Crypto is like a game of Jenga – every move feels like life or death, players are sweating, every block adds to the drama, but it’s all still hella exciting 🎲

The Fear and Greed Index is at 81, so we’re still bathing in that Extreme Greed glow.

Bitcoin smashed a new all-time high above $108K, but it’s taking a breather now. Seems like investors are playing it safe ahead of an expected hawkish Fed rate cut later today.

But there’s another story unfolding behind the scenes – one that’s less about daily price ticks and more about legacy. Bitcoin ETFs saw $493.9M in inflows yesterday, officially overtaking gold ETFs in assets under management. Let that sink in: Bitcoin ETFs just launched this year, while gold’s had a 20-year head start.

And the ETF game doesn’t stop there. According to Bloomberg’s Eric Balchunas, the crypto ETF lineup is about to get even spicier in 2025. Next up? A Bitcoin + Ethereum combo ETF, then maybe Litecoin, HBAR, and further down the line, names currently under regulatory scrutiny like XRP and Solana.

Meanwhile, retail therapy is alive and well. November retail sales rose 0.7%, building on October’s uptick. Translation? Consumers are still spending, showing the economy’s holding steady even with inflation still lurking. Why does this matter for crypto? A strong economy often keeps investor sentiment upbeat, which can spill over into riskier assets like crypto. When people spend, they tend to invest, too.

So yeah, ​​the higher we climb, the cooler the view (until one wrong move sends the whole thing crashing, Jenga-style) 🧱

🥝 Memecoin harvest

Some cryptos want to change the world, but these are just here for the vibes – and they’re killing it today:

Name

Market Cap

Unicorn Fart Dust UFD

▲30K%

$35M

Pepe Unchained PEPU

▲61%

$177M

Memes AI MEMESAI

▲30%

$95M

Fartcoin FARTCOIN

▲23%

$903M

Data as of 08:40 AM EST.

Check out these memecoins and plenty more here.

We’ve already spilled the tea on how the world is slowly waking up to crypto’s potential (if you missed it, catch up here and here).

But you know what? THEY. JUST. KEEP. COMING. And we’re eating it up 😋

Here are the latest additions to the roster:

1/ EU

Sarah Knafo, a member of the European Parliament, is not f*cking with the European Central Bank’s digital euro plan since she sees it as “totalitarian temptations.”

Her pitch instead? A strategic Bitcoin reserve for the EU.

2/ Ohio

House leader Derek Merrin wants to give Ohio’s treasury a makeover – he dropped the Ohio Bitcoin Reserve Act.

The idea? Give Ohio’s treasury the authority to hold Bitcoin as a hedge against the dollar’s devaluation.

While the bill was introduced late in the current session and prolly won’t move forward just yet, Merrin expects it to lay the groundwork for the next legislative session starting in January 2025.

Do you understand? 😈 Bitcoin isn’t just a speculative asset anymore – it’s being seen as a tool for economic strategy and financial resilience.

But make no mistake: this is still the warm-up act, people. If you’re reading this now, congrats – you’re still early.

🍋 News drops

🚨 Phishing scammers are on the hunt, targeting Ledger users with fake support emails. They pretend there’s been a data breach and push users to “secure” their wallets by handing over their seed phrases – don’t fall for it!

⛔️ President Joe Biden’s on board with banning stock trading for members of Congress. He pointed out that during his 36 years as a senator, he stuck to his salary and didn’t touch the stock market – to keep things fair.

💰 Richard Ptardio, a parody account on X, turned memes into money for a good cause. After being sent 700M PTARDIO tokens, they donated $69K worth of ’em to Save the Children.

🇰🇵 The US Treasury and UAE teamed up to crack down on North Korea’s crypto laundering schemes. Sanctions hit two Chinese nationals and UAE-based Green Alpine Trading for helping fund North Korea’s WMD and missile projects.

🤝 Crypto.com CEO Kris Marszalek had a sit-down with US President-elect Donald Trump at Mar-a-Lago in Florida. Coincidence or not, the same day, Crypto.com decided to drop its lawsuit against the SEC.

🍌 Juicy memes