In today's crypto news, FTX co-founder Gary Wang received a lighter sentence, being sentenced to time served, three years probation, and forfeiture of illicitly gained assets, after cooperating with authorities. This contrasts sharply with the 25-year term handed to fellow co-founder Sam Bankman-Fried. A savvy trader made headlines by turning an investment of only 2 Solana tokens (around $460) into nearly $1 million in just three hours after trading a fraudulent meme token called Gen Z Quant, illustrating the volatility of the memecoin market. Meanwhile, Michael Saylor of MicroStrategy plans to present to Microsoft’s board on the merits of investing in Bitcoin after his proposal to discuss it privately with CEO Satya Nadella was declined. Lastly, Coinbase announced it would delist wrapped Bitcoin (wBTC) on December 19, 2024, following a review that found it did not meet listing standards, although it assured users that wBTC withdrawals would remain available and that their funds are secure.

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