Guy Fawkes 
While life sometimes gets in the way, we publish when we’re able. Rest assured, our love and belief in Monero has never wavered.
Table of Contents:
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Development, Releases, and Technology
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General News
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Events and Meetings
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Exchanges and Merchants
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Community Crowdfunding
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Trading and Speculation
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Network Metrics
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Entertainment
Development, Releases, and Technology
Monero’s Full-Chain Membership Proofs (FCMP++) are progressing well and are set to go live on testnet in the coming months! FCMP++ significantly enhances Monero’s privacy and scalability by allowing a shift from 16-member ring signatures to an effective anonymity set of 100 million, making transaction tracing virtually impossible. Recent milestones include extensive audits by Veridise and Cypher Stack on critical components like the divisor technique and Generalized Bulletproofs. The implementation is actively being reviewed to ensure its robustness. Follow the progress or join the discussions on IRC/Matrix via the Monero Research Lab. Learn more here.
To help explain FCMP++, VostoEmisio and Xenu have released a new video detailing its impact on Monero’s privacy. The video highlights key features like the expanded anonymity set, forward secrecy, transaction chaining, and Outgoing View Keys—reinforcing Monero’s position as the most private and fungible cryptocurrency. Watch the video on YouTube, download it here, or check it out on X.
CARROT, a proposed addressing protocol by Jeffro256 for Monero’s upcoming FCMP++ upgrade, is currently under review. This protocol maintains compatibility with existing addresses while introducing new features that improve privacy and usability, such as outgoing view keys. CARROT’s innovations aim to simplify wallet management and enhance user experience while preserving Monero’s strong privacy guarantees. For more details, check out the project on GitHub.
KayabaNerve‘s proposal to audit the monero-serai and monero-wallet libraries successfully reached its funding goal. These libraries aim to strengthen Monero’s ecosystem by reimplementing the transaction protocol in Rust and providing flexible wallet functionality with features like a clean API, CLSAG multisig support inspired by FROST, and reduced computational complexity for large signer groups. The audit, conducted by Cypher Stack, will validate their security and usability, paving the way for their integration into the community-driven monero-oxide organization. This marks a major step forward for secure and efficient multisig solutions within Monero. Read more about it here.
Justin Berman has completed his recent CCS proposal after dedicating 483 hours to Monero and Seraphis development, including integrating FCMP++ wallet tree sync into wallet2. Following this milestone, he submitted a new CCS proposal to fund four additional months of full-time Monero development, focusing on FCMP++ testnet integration and addressing high-priority tasks.
The Monero Research Lab (MRL) has recommended that node operators block a list of suspected spy node IP addresses to enhance privacy on the network. These spy nodes, discovered by developer Boog900, exploit a proxy setup to infiltrate the node network and weaken transaction privacy. Boog900 has compiled a ban list of these IPs, which has been verified by MRL developers using their PGP keys. While some in the community support this as a necessary short-term fix, others express concerns about potential centralization and advocate for protocol-level solutions to address spy nodes in a more decentralized manner. For details on enabling the ban list, visit this guide.
Brandon Goodell (Surae Noether) has completed a security review of Generalized Bulletproofs (GBPs) and concluded they are suitable for use, stating they meet industry standards for classically secure cryptosystems. Justin Berman highlighted the report’s significance, suggesting it strengthens confidence in GBP’s role within FCMP++ while advocating further research into potential attack vectors. The full review is available here.
Monero recently marked the 5th anniversary of its RandomX Proof-of-Work (PoW) algorithm, a significant milestone in maintaining equitable access to mining. Gingeropolous, a longtime Monero contributor, highlighted how RandomX has proven resistant to ASIC dominance, with even the recent “ASIC” attempts confirming its design’s success—RandomX remains optimal for consumer-grade CPUs. While celebrating this achievement, the community is discussing an upgrade to RandomX version 2, ensuring Monero’s PoW stays robust as part of a broader update, including Full Chain Membership Proofs. Dive into the history of RandomX’s development here and read about the upcoming changes here.
The Monero Nodo ‘Founders Edition’ is now shipping! Created by Doug Tuman of Monero Talk and Abdullah Khan, Monero Nodo is a dedicated, plug-and-play device designed to make running a Monero node simple and secure. This beast of a device is futureproof, featuring an 8-core CPU, 32GB RAM, 2TB SSD, and a 5.5-inch 1080p touchscreen for easy management. Optimized for 24/7 operation with low power consumption, it supports Tor and I2P. By running the Monero Daemon natively on Linux, Nodo ensures reliable performance and privacy while strengthening network decentralization. You can learn more and purchase one at Monero Nodo.
Here is a review of the Monero Nodo on X.
And here is an unboxing video of the Monero Nodo.
Monero’s hashrate is reaching all-time highs, signaling growing interest in privacy. As trust in government and the financial system erodes, and privacy becomes a hot topic, people might finally be waking up to its importance.
Cyrix126 has released Gupaxx v1.5.4, featuring numerous UI improvements and bug fixes. Gupaxx is a user-friendly mining software designed to simplify Monero mining and integrate with the XMRvsBeast raffle. Updates include fixed font sizes, reworked interface elements, more user-friendly hashrate displays, and internal upgrades like XMRig 6.22.2 integration. Support for macOS 12 is deprecated, and documentation grammar has been refined. Check out the full changelog, sources, and verification files on GitHub.
Keystone Hardware Wallet has released a demo showcasing seamless integration with Cake Wallet, enabling users to manage their XMR with enhanced security. The collaboration highlights the simplicity of connecting Keystone hardware wallets to Cake Wallet, offering Monero holders an easy and safe way to store and transact. Stay tuned for more updates as Keystone and Cake Wallet continue advancing secure crypto solutions.
Cake Wallet has released v4.22.02, introducing full support for Monero hardware wallets via Ledger (Flex, Stax, and Nano X) on Android and iOS! This update enables seamless USB and Bluetooth connectivity while improving seed phrase verification, balance hiding, and overall UX. Beta testing for this version is live on Google Play, Apple TestFlight, and GitHub, allowing users to provide feedback on new features. Monero.com also updated to v1.19.0, with APKs available on GitHub.
Cake Wallet is developing a Monero app for Foundation’s new Passport Prime, set for early access in March 2025 and full availability in Q2. Passport Prime combines a hardware wallet, multi-factor authenticator, and encrypted storage, with Cake Wallet enhancing its functionality through Monero, Ethereum, and Solana integrations. This collaboration aims to provide users with secure, private, and seamless cryptocurrency management.
Risen Crypto has published a detailed blog post breaking down the cryptographic foundations of Monero’s privacy and anonymity. The post explores key technologies like Pedersen Commitments, Schnorr Signatures, Ring Signatures, and Elliptic Curve Diffie-Hellman, explaining how they work together to ensure Monero’s unparalleled privacy. While it covers most cryptographic aspects, a future post is promised to delve into RangeProofs (Bulletproofs). Dive into the comprehensive guide and deepen your understanding of Monero’s cryptographic privacy here.
Sooraj Sathyanarayanan, a privacy and security researcher, highlighted Monero’s innovative Full-Chain Membership Proofs (FCMP) as a groundbreaking leap in privacy engineering. Unlike Zcash, which relies on centralized zero-knowledge proofs like Halo2, Monero’s FCMP achieves a decentralized, universal anonymity set by verifying inputs against the entire transaction history. This removes reliance on a trusted setup and ensures every transaction is effectively hidden among millions of outputs, enhancing privacy without compromising scalability. With FCMP, Monero is pushing the boundaries of cryptographic anonymity while staying true to its principles of decentralization and fungibility. Read more in Sooraj’s thread here.
Monero Observer has published a new Monero Dev Activity Report to provide a big-picture view of Monero’s development activity throughout the past week. If you’re interested in the nitty gritty, check it out here.
General News
Starting December 30th 2024, exchanges serving EU residents will be required to collect and store both wallet and home addresses for every transaction, sparking significant privacy concerns. Critics argue this creates a dangerous “honey pot” of sensitive data, increasing the risk of misuse and attacks by bad actors. Some say Monero offers a solution, as its robust privacy features help keep transactions untraceable and wallet addresses hidden. For those concerned about financial surveillance and data breaches, Monero’s privacy-first design is viewed by some as a way to maintain financial autonomy in an increasingly regulated environment.
Monero got a shout-out on the Tucker Carlson Show during an interview with Roger Ver. Roger Ver, known as “Bitcoin Jesus” for his early promotion of Bitcoin, is a Bitcoin Cash advocate currently facing charges from the U.S. government for alleged tax violations, in what many see as an overreach targeting a vocal critic of traditional financial systems. When Tucker expressed frustration about the lack of privacy in crypto, Roger highlighted Monero as a solution. While opinions on Tucker’s politics may vary, it’s significant that Monero was mentioned on a platform with millions of viewers. Check out the interview here (Monero is mentioned around 20:43).
Monero Talk’s Monerotopia Episode 194 featured Abdullah from MoneroNodo, alongside segments on Monero price analysis, weekly news, and community discussions. Topics included quantum computing, Monero’s hashrate, OpenMonero updates, and more. Watch the replay on here.
Monero Talk’s Episode 334 features Sterlin Lujan discussing the legal challenges faced by Roger Ver, government actions against freedom fighters, and defending crypto’s core ethos. The episode also covers Monero adoption, exchange listings, and strategies for advancing pro-crypto solutions. Watch the full discussion on Monero Talk’s channel.
VostoEmisio has expanded Monero’s reach by dubbing key explainer videos and Dr. Kim’s lecture, “Monero Means Money,” into seven major languages: Russian, Mandarin, Portuguese, Spanish, French, Japanese, and Arabic. This effort aims to make Monero knowledge accessible to hundreds of millions of non-English speakers. The videos are now live on the Monero Community Workgroup YouTube channel.
Revuo Monero Issue #221 has been published. Check it out for a weekly dose of Monero news.
BasedMoney Collective has launched $monerochan, an Ethereum ERC-20 memecoin aimed at promoting Monero adoption and funding community projects. With a supply of 1,337,000,000 tokens and a ~$628,000 market cap (albeit with low volume), the project also plans Monerochan NFTs, a vending machine service, a privacy-friendly ETH wallet, and MONEROCHAN-XMR atomic swaps.
liberlion17 has shared a graphic representation of Monero’s design, showcasing its core principles of privacy, decentralization, and fungibility.
Events and Meetings
OrangeFren.com is hosting a free Monero meetup in Istanbul, sponsored by WizardSwap.io, on Friday, December 20, 2024, at 18:00 local time at CoBAC Workshop in Fatih, İstanbul. WizardSwap invites attendees to join its invite-only liquidity-pool system, offering trading fee revenue and fee-free swaps for select cryptocurrencies. Sign up with code “ISTANBUL” to get started. Learn more at OrangeFren.com.
The MAGIC Monero Fund 2025 Election is underway, with committee and voter nominations open until December 31, 2024. Five committee seats are up for election, with the top two vote-getters serving two-year terms and the next three serving one-year terms. Voting begins on January 6, 2025, with results expected around January 23. To apply, learn more, or contribute to the fund, visit MAGIC Grants.
The next Cuprate Meeting is scheduled for Tuesday, December 24, 2024, at 18:00 UTC in the #cuprate channel on IRC-Libera and Matrix. Cuprate is an alternative Monero node implementation written in Rust, designed to independently validate Monero consensus rules, providing enhanced security, redundancy, and memory safety. The meeting, moderated by Boog900, will cover project updates, future plans, and other business. Logs from the previous meeting and more information about Cuprate can be found on Monero Observer and the Cuprate repository.
The next MoneroKon 2025 Planning Meeting is set for Saturday, December 28, 2024, at 17:00 UTC in the #monerokon Matrix/IRC channels. The agenda is available on agenda.monerokon.org, and logs from the previous meeting can be found on Monero Observer. MoneroKon 2025 is scheduled for June 20–22 in Prague.
Exchanges and Merchants
RetoSwap, formerly known as Haveno-Reto, has unveiled its new website at retoswap.com. The platform continues to support decentralized P2P Monero trading, building on its foundation as a Haveno network. Check it out here.
XMRGlobal, a new privacy-first P2P Monero exchange, is now live with features like no KYC, no JavaScript, and Tor accessibility. Currently in testing, the platform encourages user feedback to improve functionality. Visit xmrglobal.com or access via Tor at xmrglobal.onion. As with all new services, exercise caution and trade in small amounts to ensure trustworthiness.
NoOnes Tech has introduced Monero support on their P2P Marketplace Noones App. Users can now deposit, trade, and withdraw Monero, providing more options for those prioritizing privacy in their cryptocurrency transactions.
According to Tommy from AllArk, users can now purchase prepaid debit cards with Monero, making it easier to spend XMR worldwide. Options include cards up to $2,000 (US only) or $5,000 (global), with 24/7 issuance and easy top-ups.
Indodax, Indonesia’s largest cryptocurrency marketplace, has announced it will delist Monero (XMR), along with other ‘privacy coins’, on December 26, 2024. The exchange cited its commitment to providing “quality crypto assets” for trading as the reason for the decision. While centralized marketplaces continue to restrict privacy coins, Monero users have increasing options on decentralized exchanges which provide censorship-resistant trading opportunities. Read the full announcement here.
Community Crowdfunding
Several crowdfunding proposals are awaiting community feedback before they can start accepting funds through the Community Crowdfunding System (CCS). For now, they are just proposals, but if they receive some positive feedback from the community they will be moved to a “Funding Required” stage so that they can accept Monero donations through the CCS.
Monero Talk and MoneroTopia are seeking a passionate Monero enthusiast to help secure guests for their weekly shows. This part-time gig involves reaching out to potential guests, especially influencers in the pro-liberty sphere, to grow the shows’ reach and Monero’s visibility. If you’re reliable, proactive, and excited to support Monero’s community, email monerotopia@protonmail.com with the subject “Help with Guest Search.” More information can be found here.
Trading and Speculation
Despite Binance delisting Monero, $51.9 million in futures trading volume on XMR/USDT has been recorded, highlighting the ongoing demand for Monero. While Binance prohibits deposits and withdrawals of actual Monero, futures trading continues, with critics calling this a tool for price suppression through “paper Monero.” The Monero community urges users to bypass such synthetic markets, buy real XMR, and withdraw it to private wallets, reinforcing Monero’s true value and utility.
Steve Montano (@thestevemontano) hints at intriguing developments in Monero with a tweet showcasing the XMR/USD monthly chart. “Probably nothing. Definitely something. 👀”
Network Metrics
Monero’s market cap is greater than all other ‘privacy coins’ in existence—proof it’s the #1 private-by-default, decentralized crypto.
Total Monero in Circulation — 18,530,906 XMR
Monero Total Marketcap — $3,979,543,078
Coinmarketcap Ranking — #37
XMR/USD Price — $209 USD
XMR/BTC Price — 0.002078 BTC
Average Transaction Fee — 0.00036 XMR ($0.078)
Monero Network Hashrate —3.20 Ghash/s
Monero Mining Pools Hashrate Distribution —
Entertainment
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Have we missed something?
If I’ve missed something important, let us know! As this is our first issue after a few months, we might have overlooked some news. Feel free to DM me if there’s anything you’d like included in a future issue.
Support Monero
Want to contribute to the Monero Project? Developers, marketers, event coordinators, translators, Instagram personalities, meme creators, and public speakers — whatever your skills may be, it is extremely likely there is something you can do to assist. Reach out to the Monero community on Reddit, IRC/Matrix, GitHub, Twitter, or Telegram. The official Monero website is GetMonero.org.
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DISCLAIMER: This publication contains opinions for informational and entertainment purposes only and does not constitute investment advice. Information may contain errors and omissions; use it solely at your own risk. The author of this publication and/or the authors of articles linked to or from this site may have financial investments that could bias their opinions, including ownership of Monero currency. No website, service, or product mentioned in the newsletter constitutes an endorsement; use them at your own risk. Always do your own research, form your own opinions, and never take risks with money or trust third parties without verifying their credibility.
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