Crypto News Roundup: Saylor’s MARA Nasdaq Prediction, Thailand’s Crypto Call, and Coinbase Faces $1 Billion Lawsuit

Here’s your daily crypto news update, with key developments impacting Bitcoin, blockchain, DeFi, NFTs, Web3, and crypto regulation.

Michael Saylor Predicts MARA Holdings Will Join Nasdaq 100

MicroStrategy founder and Bitcoin advocate Michael Saylor has tipped crypto mining firm MARA Holdings as the next Bitcoin-related company likely to join the prestigious Nasdaq 100.

In a Dec. 14 post on X, Saylor responded to a congratulatory message from MARA’s CEO, Fred Thiel, who had praised MicroStrategy’s recent inclusion in the Nasdaq 100 Index, announced on Dec. 13. Saylor, recognizing MARA’s growing presence in the Bitcoin sector, stated: “I expect $MARA will be the next.”

Thiel also confirmed MARA’s ambition to reach this milestone, adding that the company has invested heavily in Bitcoin, spending over $600 million on the cryptocurrency in the last two months. This follows MARA’s continued efforts to increase its Bitcoin holdings and strengthen its position in the market.

MicroStrategy’s market capitalization reached $94.77 billion by Dec. 13, positioning it as a leader in the Bitcoin corporate treasury space. In comparison, MARA’s market cap stood at $7.32 billion, with the company’s potential Nasdaq inclusion signaling growing investor interest in Bitcoin-focused firms.

Former Thailand PM Urges Exploration of Cryptocurrencies

Thaksin Shinawatra, the former Prime Minister of Thailand, has called for the country to actively explore cryptocurrencies to remain competitive in the global digital economy. Speaking to an audience in Hua Hin, Shinawatra stressed that the rise of digital currencies and the ongoing trend toward digitization make it essential for Thailand to engage with the crypto sector.

Shinawatra noted the increasing global proliferation of cryptocurrencies, predicting that there could one day be more types of currencies than countries. He urged Thai citizens to better understand and adapt to these changes, especially in light of shifting global trade dynamics, including protectionist policies from the incoming Trump administration. Shinawatra also pointed to Trump’s suggestion of using Bitcoin to pay off national debt as further motivation for exploring alternative digital currencies.

In line with these comments, Thailand has already begun efforts to integrate digital assets into its economy. This includes the launch of a crypto regulatory sandbox in August 2024, as well as a partnership between the Bank of Thailand and the Hong Kong Monetary Authority (HKMA) to explore tokenized cross-border settlements.

Coinbase Hit with $1 Billion Lawsuit Over WBTC Delisting

Coinbase, one of the world’s largest cryptocurrency exchanges, is facing a $1 billion lawsuit from BiT Global Digital Limited over its decision to delist Wrapped Bitcoin (WBTC) in November 2024. The lawsuit, filed on Dec. 13, alleges that Coinbase’s actions were an attempt to undermine WBTC’s market while promoting its own competing product, cbBTC.

BiT Global claims that Coinbase's delisting of WBTC was a strategic move to monopolize the wrapped Bitcoin market, accusing the exchange of predatory practices. According to the lawsuit, Coinbase's removal of WBTC from its platform just as it was preparing to launch cbBTC represents an unfair tactic aimed at diminishing competition.

The suit also criticizes Coinbase for delisting WBTC while continuing to list speculative memecoins. Kevin Kneupper, the attorney representing BiT Global, argued that if large exchanges like Coinbase are allowed to delist products to promote their own, it sets a troubling precedent for the broader cryptocurrency market.

BiT Global is seeking over $1 billion in damages from Coinbase, making this one of the most significant legal challenges facing the exchange.

Conclusion

From Saylor’s prediction about MARA Holdings to Thailand’s push for digital currency exploration and a major lawsuit against Coinbase, today’s crypto landscape is buzzing with pivotal developments. Whether it’s the rise of Bitcoin-related companies, regulatory shifts, or legal battles in the industry, these events highlight the dynamic and evolving nature of the cryptocurrency space. Keep an eye on these trends as they continue to shape the future of digital assets and blockchain technology.