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This is a historical recap of crypto news from December 2–8, 2024, not current market or investment advice as of August 18, 2026. Bitcoin moved above $100,000, the Solana-based $HAWK memecoin linked to internet personality Haliey Welch suffered a reported 95% market-cap collapse, and Coinbase added Apple Pay to eligible purchases through its developer-focused Onramp product. The Bitcoin milestone and Coinbase announcement are verified events; allegations surrounding $HAWK remain allegations, not a proven finding of fraud.
At a glance
| Story | What happened | What is established |
|---|---|---|
| Bitcoin | BTC moved above $100,000 in early December 2024 and was reported at about $103,844 intraday on December 4. | The price milestone occurred; the rally had multiple possible drivers rather than one proven cause. |
| $HAWK | The Solana token launched December 4, briefly reached an estimated $500 million market cap, then fell toward $25 million. | The launch and price collapse are documented. Insider-selling and pump-and-dump claims were disputed and not established by the cited reporting. |
| Coinbase Apple Pay | Apple Pay became a payment option for eligible fiat-to-crypto purchases through Coinbase Onramp. | This was an Onramp and third-party-app integration, not universal Apple Pay support for every Coinbase customer, asset or country. |
Bitcoin crosses $100,000
Bitcoin first moved above the psychologically important $100,000 mark during the early-December 2024 rally. CNBC reported an intraday high of approximately $103,844 on December 4, although highs can differ slightly by exchange, data provider and timestamp. The original roundup was published December 9, 2024 (Tech Times; CNBC).
Why the threshold mattered
$100,000 was a new nominal all-time-high zone and a major psychological reference point for retail traders, institutions and derivatives markets. It does not, by itself, prove that a permanent trend had begun or that any particular entry price was sensible. A brief intraday move is also different from a daily or weekly close above the level.
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Coverage linked the surge partly to optimism after the 2024 U.S. election. That is a market narrative, not proof of a single cause. Bitcoin prices can respond simultaneously to fund flows, liquidity, macroeconomic expectations, derivatives positioning and changing risk appetite. The cited article also appears to contain a factual error saying Donald Trump named Jerome Powell as SEC chair. Powell is associated with the Federal Reserve; that claim should not be repeated. The SEC-chair statement is therefore excluded here.
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Price is not market value
“Bitcoin reached $100,000” means the spot price per BTC crossed that level. It does not mean Bitcoin’s price was identical on every venue or that its market capitalization, adoption or fundamental value changed by a fixed amount at that instant. Readers comparing historical figures should check the exchange, currency, timestamp and whether the number is an intraday high or closing price.
What happened to the $HAWK memecoin?
The token marketed in connection with Haliey Welch, known online as the “Hawk Tuah” girl, launched on Solana on December 4, 2024. Reporting put its peak market capitalization at approximately $500 million before it fell toward $25 million—about a 95% decline in the reported measurement window. The cited coverage reported a high near $0.04916 and a low near $0.002439 (Tech Times; historical pair data is available at DEX Screener).
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What critics alleged
Critics and blockchain observers alleged that insiders or connected wallets controlled a disproportionate share, bought unusually early (“sniping”), or sold into the public launch. A rapid rise followed by a collapse can resemble a pump-and-dump, but the chart alone cannot establish criminal conduct, insider trading or a coordinated scheme. Welch and her team denied intentionally manipulating the market or engaging in insider trading.
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Why the market-cap number can mislead
Market capitalization is generally calculated as token price multiplied by reported supply. It is not the amount of cash invested and does not represent money that could necessarily be withdrawn. If liquidity is thin, even modest selling can move the quoted price sharply, making the displayed market cap especially fragile. A reported $475 million change in market cap should not be described as $475 million of realized investor losses.
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Allegation, evidence and legal finding are different
- Online accusation: a claim posted by a commentator or trader.
- On-chain evidence: transactions, wallet balances and funding links visible on a blockchain.
- Formal case: a filed lawsuit, regulator complaint, subpoena, settlement or criminal charge.
- Adjudicated finding: a court or regulator has determined liability.
The original coverage mentioned law firms seeking potential claimants. Solicitation is not a court finding, regulatory action or proof that Welch or another participant violated the law.
How to investigate a suspected memecoin rug or pump-and-dump
- Verify the contract. Match the official Solana contract address with authenticated project accounts; a ticker and name can be copied.
- Map holders. Inspect the largest wallets and distinguish exchanges, liquidity pools, burns, vesting and team wallets from ordinary holders. Look for clusters funded by one source.
- Compare timing. Check whether major purchases occurred before or immediately after public promotion.
- Inspect liquidity. Identify the pool size, who supplied it, and whether liquidity was locked, burned or controlled by an identifiable wallet.
- Review selling. Coordinated transfers to exchanges or pools merit scrutiny, but a large sale can also come from an early buyer, market maker or liquidity provider.
- Read disclosures. Look for published allocations, vesting schedules, wallet ownership and conflicts of interest before launch.
- Check the legal record. Confirm whether a case or regulator action actually exists; do not treat advertising by lawyers as proof of wrongdoing.
These checks can identify risk and on-chain patterns. They do not automatically produce a legal conclusion.
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What Coinbase’s Apple Pay announcement actually enabled
On December 2, 2024, Coinbase announced Apple Pay support for eligible fiat-to-crypto purchases made through Coinbase Onramp. Onramp is developer infrastructure that applications integrate so users can purchase crypto inside a supported app; it is not simply a new payment button guaranteed to appear for every direct purchase on the standard Coinbase exchange.
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- Apple Pay as an additional payment method for qualifying purchases.
- A faster checkout flow and guest checkout for eligible users.
- Fiat-to-crypto purchasing, with free USDC on- and off-ramping in the described product context.
- Automatic availability for existing Onramp integrations, subject to eligibility.
Coinbase did not promise every asset, country, U.S. state, transaction amount or account would qualify. Availability can depend on location, asset, payment amount, identity-verification status, the integrating app, Coinbase and Apple policies, and compliance screening. “Guest checkout” should not be rewritten as anonymous or universal no-KYC access. Developers can review the product documentation at Coinbase Onramp docs.
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What the announcement did not mean
- It did not mean Apple Pay could buy every cryptocurrency on Coinbase.
- It did not make crypto purchases anonymous or remove account restrictions.
- It did not mean Apple Pay had become a way to spend crypto at every merchant.
- It did not guarantee instant settlement, identical fees or availability worldwide.
Why these three stories belong together
They show three very different layers of the crypto market. Bitcoin’s deep and liquid market reached a historic nominal threshold. $HAWK demonstrated how social-media attention, concentrated ownership and shallow liquidity can produce extreme outcomes in a speculative token. Coinbase’s Onramp update showed the industry’s continuing effort to reduce friction between ordinary payment methods and crypto applications.
Convenience and visibility do not remove volatility, spread, network fees, custody risk, tax obligations or account restrictions. Nor does a large displayed market cap guarantee that investors can sell at that price.
Checks to make before acting on any similar story
- Use a reputable market-data source and record the exchange, currency and timestamp.
- For a token, confirm the contract address before reading price or holder data.
- Inspect liquidity, wallet concentration and vesting disclosures.
- Separate an online allegation from a filed case, regulatory action or adjudicated finding.
- Check the current payment method, fees, identity requirements and geographic eligibility in the provider’s documentation.
- Consider custody, taxes and the possibility of losing the entire amount in a highly speculative asset.
Bottom line
Bitcoin’s move above $100,000 in December 2024 is verified market history, but the rally had multiple possible drivers and the exact high varies by venue. The $HAWK launch and collapse are documented; claims of insider selling or a pump-and-dump were contested allegations, not established fraud findings. Coinbase’s Apple Pay announcement was real but narrower than a headline suggesting universal Apple Pay purchases: it applied to eligible Onramp transactions, often inside third-party applications. All three developments are historical as of August 18, 2026.
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