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Today was a day to remember for the entire crypto community as Bitcoin smashed through the milestone price of $100,000 for the first time in its storied 16-year history, viral influencer Haliey Welch has courted controversy following the launch of her memecoin Hawk Tuah (HAWK), which plummeted more than 90% in four hours, and United States President-elect Donald Trump nominated a pro-crypto replacement for outgoing Chair Gary Gensler at the Securities and Exchange Commission (SEC).
Bitcoin price hits $100,000 for first time in history
The price of Bitcoin reached $100,000 for the first time in history, marking a milestone for the cryptocurrency market after a year of significant growth.
Bitcoin BTC $101,396 hit the $100,000 price mark on Dec. 5, breaking a psychological level just weeks after reaching the $90,000 milestone on Nov. 12, according to TradingView.
Bitcoin also set a new all-time high of $104,000 at 3:08 am UTC — roughly 90 minutes after surpassing the $100,000 mark.
The year has seen more than $31 billion in net inflows from the spot Bitcoin exchange-traded funds in the United States, along with tightened supply from Bitcoin’s fourth halving in April.
Bitcoin has seen a 126% increase in value since Jan. 1, when it was trading at about $44,000.
In reaching $100,000, Bitcoin’s market capitalization has also reached a new high, hitting $2 trillion for the first time ever.
Hawk Tuah memecoin sparks rug pull allegations after controversial launch
Viral influencer Haliey Welch has courted controversy following her move to launch a Hawk Tuah memecoin (HAWK) which briefly pumped and then dumped over 90% in the span of just four hours.
On Dec. 4, Welch launched the HAWK memecoin, which quickly rallied to a peak market cap of $490 million.
However, the price of the token rapidly plummeted and is currently trading at a valuation of just $41.7 million at the time of publication, marking a 91% downturn in less than three hours, according to DexScreener data.
According to aggregated data from Bubblemaps and Dexscreener between 80-90% of the supply was controlled by a group of “insider” wallets.
In a Dec. 5 post to X, Haliey Welch’s official account denied selling any tokens or giving free tokens to KOLs, saying they launched the token on decentralized liquidity protocol Meteora to reduce sniping risk.
However, according to data from Solana block explorer Solscanner, one wallet sniped HAWK seconds after launch, purchasing 17.5% of the supply of the memecoin for 4,195 Wrapped Solana (WSOL) — worth $993,000 at the time.
In less than two hours after the launch, the sniper sold 85% of their allocation for $1.3 million in profit.
Trump nominates pro-crypto replacement to Gensler at SEC
President-elect Donald Trump has nominated Paul Atkins to replace Gary Gensler as the new chair of the SEC.
In a Dec. 4 announcement on Truth Social, Trump touted Atkins’ previous experience at the SEC and his strong advocacy for investor protection.
“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,” said Trump.
In the digital asset community, Atkins is widely known for his pro-crypto stance, inheriting an agency that was especially hostile to the sector under Gensler.
On Gensler’s watch, the SEC brought more than 100 enforcement actions against the crypto industry, all between 2021 and 2023. According to the Blockchain Association, an industry advocacy group, crypto companies spent $426 million in legal fees combating the SEC’s enforcement measures.
Gensler announced his resignation from the SEC last month—before President-elect Trump could follow through on his promise to “fire” him on Inauguration Day.
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