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- 🪙 Billion-dollar Aptos Labs lawsuit resolved, Glazer says
Shari Glazer, who sued Aptos Lab CEO Mo Shaikh and claimed she had been cheated out of of an equity stake in the new firm, now says the case is resolved. Glazer had claimed Aptos CEO Mo Shaikh conspired to deprive her of a stake in the company. Glazer’s announcement comes roughly two months after a judge denied Shaikh's motion to dismiss the lawsuit. In October, the court did, however, dismiss four legal claims, including fraud while allowing the case to proceed on the merits of determining if there had been a breach of agreement, unjust enrichment, or if Glazer was entitled to a 50% stake in Matonee, also known as Aptos Labs.
- ⚪️ PayPal expands crypto services to Luxembourg
Payments giant PayPal will allow customers in Luxembourg to buy, sell and hold Bitcoin, Ethereum, Litecoin and Bitcoin Cash in their accounts. In June, the company rolled out new features allowing users to transfer crypto between PayPal and other wallets. Adding the ability to transfer, send, and receive cryptocurrencies is another step in our journey to building a more inclusive and effective financial system,” said Jose Fernandez da Ponte, SVP and GM of blockchain, crypto and digital currencies at PayPal. PayPal launched into the crypto business first in the U.S. in 2020, later expanding into the UK in 2021.
- 🇪🇺 EU crypto taxation proposal will target firms all over the world
Companies offering EU residents crypto services will need to report on transactions to tax authorities.A new proposal from the European Commission will require crypto asset service providers of all sizes and geographical locations to report on the transactions of EU-based clients to tax authorities. Tax authorities currently lack the necessary information to monitor proceeds obtained by using crypto-assets, which are easily traded across borders,” the European Commission wrote in a statement. “This severely limits their ability to ensure that taxes are effectively paid, which means European citizens lose important tax revenues.”The European Commission aims for the new rules to be enforced on Jan 1. 2026.
- 🥇 Grayscale’s GBTC discount nears 50% causing further concern in community
Grayscale Bitcoin Trust (GBTC) is trading at a record-low discount of 49.20% to the underlying assets’ net asset value (NAV), as of Dec. 8. The crypto community has become increasingly concerned with GBTC’s record discount trades. Speculations emerged around the product when its sister company Genesis halted withdrawals for customers’ citing FTX’s implosion. Reports later revealed that their parent company Digital Currency Group had debt amounting to roughly $2 billion — with the majority owed to Genesis. DCG likely used its GBTC’s holding as collateral for its loan with the crypto lender.
- 💰 Collapsed FTX Sought $100M Sponsorship Deal With Taylor Swift: Report
According to a Financial Times report citing people familiar with the matter, the abortive deal reportedly revolved around a potential tour sponsorship and included a ticketing arrangement with digital certificates in the form of non-fungible tokens (NFTs). One former FTX employee reportedly said that the exchange had sought a “light degree of endorsement” from Swift on social media—though Swift herself, according to a person close to the discussions, never contemplated agreeing to endorse the exchange.worth more than $100 million with Taylor Swift.
- 📣 Kim Kardashian, Floyd Mayweather EthereumMax Lawsuit Dismissed
A federal judge in California has dismissed a class action suit against several notable celebrities, including Kim Kardashian and Floyd Mayweather, for promoting the cryptocurrency EthereumMax (EMAX). The lawsuit was first filed in January. The judge reportedly stated that it was unclear if the plaintiffs had seen the specific promotions shared by the celebrities. Judge Michael Fitzgerald also said that investors should be expected "to act reasonably before basing their bets on the zeitgeist of the moment.".Despite the dismissal, Judge Fitzgerald said the plaintiffs can refile with amended claims.
- 📣 Hedge fund Fir Tree files lawsuit against Grayscale: Bloomberg
Hedge fund Fir Tree Capital Management is suing crypto investment fund Grayscale Investments for information to investigate potential mismanagement and conflicts of interest, Bloomberg News reported, citing Delaware court documents. Fir Tree wants to use the the information to push Grayscale to address the large discount it trades at relative to the bitcoin it holds by lowering fees and resuming redemptions, Bloomberg cited sources as saying. The complaint also alleges that Grayscale investors have been harmed by "shareholder-unfriendly actions.".with sister firm Genesis halting client withdrawals last month.
- 🏦 Crypto.com CEO addresses FUD,says he ‘has nothing to hide’
Crypto exchange crypto.com‘s CEO Kris Marszalek posted a thread on his Twitter account to acknowledge that more FUD targeting crypto.com is coming and that he had “nothing to hide.”.After the collapse of FTX, Crypto.com only partially disclose its reserves. Unfortunately. One day before this statement, on Nov. 13, Marszalek admitted that Crypto.com accidentally transferred 85% of its Ethereum (ETH) reserves to Gatei.io during November. Marszalek had also vocalized his concerns about FUD targeting crypto.com at the time.. To address these questions, Marszalek said, “withdrawals are working as usual.”
- 🪙 Binance US Drops All Ethereum-USD Trading Fees
Binance US – the American branch of the world’s largest crypto exchange – has eliminated all Ether (ETH) spot trading fees just six months after doing the same for Bitcoin (BTC) pairs on the platform. The zero-fee model will expand free trading to the platform’s ETH/USD, ETH/USDT, ETH/USDC, and ETH/BUSD pairs. Binance US CEO Brian Shroder said the change is one of many at the company focused on “customer experience.” The exchange seeks to distinguish itself as one of the industry’s low-fee leaders, and to “restore trust in the greater ecosystem.”.Both Binance and Binance US introduced zero-fee Bitcoin trading on the same USD and stablecoin pairs in June, shortly after industry competitors like Coinbase and Robinhood announced major job cuts.
- 🥇 Grayscale Faces Lawsuit as GBTC Plunges to Record Low 43% Discount
New York-based hedge fund Fir Tree Capital Management has filed a lawsuit against digital asset manager Grayscale Investments over “potential mismanagement and conflicts of interest” at the firm’s flagship Bitcoin fund, according to a Bloomberg report. The news came as Grayscale Bitcoin Trust’s (GBTC) discount plunged to a record low discount of more than 43% from the underlying Bitcoin value on Tuesday, with Fir Tree alleging that this is partly the result of Grayscale issuing “an immense number” between 2018 and 2021 without providing investors means of exiting their positions aside from selling shares to other investors.
- 📊 Bitcoin: From 70% drop to 1,300% jump, Novogratz, Draper and more chime in on future
Bitcoin’s price is down over 60% year-to-date, and price predictions are all over the place. Mike Novogratz dropped his forecast that bitcoin will reach $500,000 in the next five years, while Tim Draper is confident it can reach $250,000 next year. Last week, Galaxy Digital's Mike Novogratz dropped his very optimistic prediction that bitcoin will reach $500,000 in the next five years. Meanwhile, venture capitalist Tim Draper reaffirmed his call that it can hit $250,000 in the new year. And then you have Standard Chartered, which foresees gold reclaiming the haven title from bitcoin, which the bank predicts will collapse to $5,000.
- 🇬🇧 UK set to announce new crypto regulations: FT
The UK government is expected to announce new rules governing the sale and marketing of crypto assets. a clampdown on crypto-related advertisements by companies based outside the UK, the Financial Times reported on Monday. The proposed powers will be added to a piece of legislation that is already before parliament. The Financial Services and Markets Bill is designed to shape the UK's financial sector post-Brexit and includes sections defining stablecoins and crypto assets. Instead, the UK prefers a piecemeal approach of incremental changes, which has frustrated some.
- ⚡️ Gemini forms ad hoc committee with creditors amid Earn freeze
Gemini formed an ad hoc committee with other creditors to coordinate and advocate for a resolution to the crypto exchange's struggling Earn product — which paused customer redemptions on Nov. 16. Winklevoss also claimed that returning user funds "is our highest priority and we are operating with the utmost urgency." The update comes from Gemini's co-founder Cameron Winklevoss, who tweeted that law firm Kirkland & Ellis "has been engaged as counsel by the Creditor Committee to advocate on its behalf.". owe $900 million to Gemini customers, according to the Financial Times. Gemini is reportedly attempting to recover the funds.According to a CoinDesk report on Sunday, Genesis owes its creditors at least null.8 billion.
- 📉 Bitcoin mining difficulty falls 7.2% in sign unprofitable machines are being unplugged
Bitcoin mining difficulty is down 7.2%, the biggest drop since July 2021, according to an update posted on BTC.com. It's the largest single step down since a nearly 28% plunge following China’s crackdown on mining in the summer of last year. The most recent decrease reflects the tough mining economics companies have faced in the past few months as margins have tightened along with rising power costs and declining bitcoin prices. Conditions that have left some miners cash-strapped and buried in debt. is likely due to unplugged machines, as noted by industry insiders last week.
- 🇺🇸 Sam Bankman-Fried may not testify before US Congress on Dec. 13
FTX founder Sam Bankman-Fried may not testify before the U.S. House Committee on Financial Services on Dec. 13 because he is still “learning and reviewing what happened” at the bankrupt exchange.SBF has maintained that he knew nothing about what caused FTX collapse, attributing it to mistakes detected late. According to him, he would testify when he has enough clarity on what led to the implosion of his exchange. FTX founder has granted several interviews to media houses and journalists, which included the Financial Times, Wall Street Journal, Good Morning America, and multiple Twitter spaces.
- 💰 Number of Cardano-based smart contracts surpasses 4,000
The Cardano (ADA) network received a significant update in September 2021, which included the addition of smart contract functionality, allowing the blockchain to scale and perform more quickly. Despite a price drop in 2022, Cardano’s network development has expanded. Following the Vasil hard fork in September, Plutus Scripts (a Cardano-based smart contracts platform) has rapidly hit over 4,000 smart contacts. According to data acquired by Finbold, the number of smart contracts on Cardano reached the 4,027 mark on December 3, per statistics from Cardano Blockchain Insights.
- 💰 Bernie Madoff’s Lawyer advises FTX’s Bankman-Fried to ‘shut up’
Following the collapse of the FTX crypto exchange, the platform’s founder Sam Bankman-Fried (SBF), has embarked on a media tour attempting to explain what went wrong. However, Bankman-Fried has been warned regarding the approach. In particular, Ira Sorkin, the lawyer who represented Bernie Madoff, who perpetrated the largest individual Ponzi Scheme, has urged Bankman-Fried to ‘shut up’ as a probe into the collapse continues, Bloomberg reported on December 2. Bankman-Fried media tour will have little impact on swaying public opinion over his alleged role in the FTX debacle.
- 🪙 Bitcoin Could Drop to $5,000 in 2023 ‘Surprise’: Standard Chartered
Bitcoin could still have much further to fall next year, according to analysts at Standard Chartered. The world’s first and biggest cryptocurrency could plummet as low as $5,000 in one scenario imagined by the banking group. The prediction was made as part of Standard Chartered’s annual list of surprises that analysts believe the markets may be overlooking or under-pricing. Other possible upsets for the year ahead include a fall in oil prices, the impeachment of U.S. President Joe Biden, and a collapse in food prices. send people back to the classic safe haven of gold.
- 🏦 Bybit reducing workforce as bear market deepens
Crypto exchange Bybit is reducing its workforce as a direct result of "the deepening bear market.". The Singapore-based crypto exchange's CEO and co-founder, Ben Zhou, made the announcement on Twitter at 12:32 a.m. ET. Bybit previously cut its workforce by an unspecified number in June. Bybit is not alone in reducing its workforce as the blockchain and cryptocurrency industry struggles to regain its footing after a tough year — which saw the collapses of the Terra ecosystem, hedge fund Three Arrows Capital, major crypto exchange FTX and its sister firm Alameda Research. “The deepening bear market” was explicitly cited as the reason for the job cuts.
- ⚡️ LedgerX for sale, with interest from Blockchain.com, Gemini, others: Bloomberg
Crypto derivatives exchange and clearinghouse LedgerX is for sale, with Blockchain.com and Gemini among those interested in acquiring the firm, Bloomberg reported late Friday. LedgerX is one of the few solvent entities remaining in the FTX group of companies. LedgerX is planning to make $175 million available for use in FTX's bankruptcy proceedings, Bloomberg reported on Nov. 29. It would come from a $250 million fund LedgerX was planning to use for a CFTC application aimed at getting regulatory approval to "clear crypto derivatives trades without intermediaries," according to Bloomberg.
- 🇷🇺 Russia’s Sber Bank Aims for Blockchain Integration With Ethereum and Metamask
Banking giant Sber wants to integrate its blockchain platform with the Ethereum blockchain and the Metamask wallet. The Russian bank believes the integration will give developers more options and create new opportunities for users when in operations with tokens and smart contracts. The blockchain platform developed by Sber, Russia’s largest bank, will be technologically compatible with Ethereum, the world’s largest decentralized finance (defi) ecosystem. The financial institution made the announcement during an international meeting with members of the blockchain industry. own blockchain and open blockchain networks.
- 🚨AAX Users Storm Crypto Exchange's Nigerian Offices, Attack Employees
Nigeria users of the crypto exchange AAX, which suspended withdrawals on Nov. 12, reportedly stormed its offices in Lagos and began assaulting employees. Reports that disgruntled AAX users have harassed the crypto exchange’s workers came just days after the Nigerian crypto and blockchain advocacy group. According to a local report, a group of disgruntled Nigerian users of Atom Asset Exchange (AAX) recently stormed the crypto exchange’s offices in Lagos and assaulted employees. The angry mob reportedly demanded the lifting of a freeze on withdrawals, which came into effect on Nov. 12. Dec. 2 report by Legit does not state when the incident occurred.
- 💰 Alameda Covered a null Billion Loss for FTX in 2021
Alameda lost hundreds of millions covering a client’s unusually large margin position on an obscure token in April 2021. This news comes amid claims from former FTX CEO Sam Bankman-Fried that FTX and Alameda were independently operated firms. FTX’s sister trading desk, Alameda Research, bailed out the exchange before it suffered a possible null billion trade loss in early 2021. As reported by the Financial Times on Friday, people familiar with the matter said FTX suffered massive losses after a client’s leveraged trade on an obscure crypto token went south. Meanwhile, the “buffers” designed to shield the exchange from losses on a bad trade failed to protect FTX.
- 🦊 MetaMask Co-Founder Wants to 'Dump' Apple, Calls iOS Purchase Tax 'Abuse'
MetaMask co-founder and ex-Apple employee Dan Finlay says he’s all in favor of the crypto industry ditching Apple’s App Store altogether, calling Apple’s 30% in-app purchase tax “an abuse of monopoly.”.Coinbase’s Wallet announced Thursday that its users would no longer. MetaMask iOS app. In emailed comments to Decrypt, Finlay said: “As of now, Metamask remains on the app store but we will closely monitor the situation in the coming weeks and months to ensure our users continue to have unfettered access to their crypto assets.”Finlay also elaborated on his tweets regarding his feelings about Apple's new policies.
- 🪙 Cardano (ADA) beats all crypto platforms in monthly development activity
The cryptocurrency sector continues to lick its wounds after the destruction caused by the collapse of FTX, once one of the largest crypto exchanges in the world, but the Cardano (ADA) development team is not lacking commitment to growing the platform. Cardano recorded the highest development activity during the month of November, according to the analysis carried out by the on-chain market intelligence platform Santiment, which was published on December 1. Specifically, the development activity rates of the Cardano team in its public GitHub repositories in November were 18% higher.
- 📶 Former SEC official slams Tether for running a Ponzi scheme, labels firm as a ‘house of cards’
According to Reed, who worked with SEC for almost two decades, Tether’s failure to disclose key information about its balance sheet might be a sign the firm is operating as a ‘house of cards’, Reed said in a tweet. alleged lack of transparency by USDT stablecoin provider Tether. The former SEC official made the remarks in response to a December 2 CNBC interview where Tether co-founder Reeve Collins was tasked to explain the company’s lack of full disclosure, especially in the wake of the FTX cryptocurrency exchange collapse. Based on Collins’ response, Reed suggested that the company was running a Ponzi scheme. FTX alongside BlockFi’s bankruptcy filing.
- 📣 Galaxy Digital to acquire custodian GK8 from bankrupt Celsius
Galaxy will support GK8's self-custody solution in the ongoing development of GalaxyOne, a new prime offering for institutional investors combining trading, lending, cross-portfolio margining and derivatives with the company's risk-management processes. Mike Novogratz's firm said the acquisition represents a "crucial cornerstone" in the firm's effort to build a full-service financial platform for digital assets. Celsius filed for Chapter 11 bankruptcy protection in July following the collapse of Terra's ecosystem. The lender froze customer withdrawals in June as it faced mounting liquidity issues. At the time, FTX had considered a deal with Celsius.
- 🇺🇸 U.S. Trustee asks bankruptcy court to appoint FTX trustee
The U.S. Trustee has asked a Delaware bankruptcy court to appoint an examiner in the ongoing FTX bankruptcy case. It is a common step for the government to request one in a complex bankruptcy like the Chapter 11 bankruptcy most of the FTX-affiliated companies are now in. FTX Digital Markets, the trading arm based in the Bahamas, has also filed bankruptcy there. The Bahamian government has indicated it does not plan to cooperate with requests to fully move that process, so as to consolidate all proceedings. FTX filed for Chapter 11 bankruptcy protection on Nov. 11. Since then, statements and filings have revealed.
- 📉 Bitcoin mining revenues fell 20% in November
Bitcoin mining revenues fell 19.9% in November to about $472.64 million, according to data compiled by The Block Research. The cryptocurrency's price, which had been hanging around the $19,000 mark last month, slumped below $17,000 in the aftermath of FTX's collapse. Most bitcoin mining revenues came from the block reward subsidy ($460.32 million) and only a small portion from transaction fees ($12.32 million). The share of bitcoin transaction fees over total revenue increased slightly to around 3%. For a good portion of the month, bitcoin’s price was beneath $17,000, whereas in October it was trading between $19,000 and $20,000. Bitcoin miners generated about 5.3 times the revenues of Ethereum stakers.
- 📣 Avalanche DEX Trader Joe is deploying on Arbitrum
Decentralized exchange Trader Joe is launching on the Ethereum scaling chain Arbitrum. The move represents Trader Joe’s first deployment on a new chain since it launched in 2021. Trader Joe has the highest total trading volume across all applications on Avalanche. Trader Joe's Arbitrum debut will be limited in scope. Features such as its native token JOE, lending platform Banker Joe, and NFT marketplace Joepegs will only be available on Avalanche. Last week, it launched a new technology called the Liquidity Book Automated Market Maker (AMM), which it claims is more efficient than traditional decentralized exchange models.
- 🪙 Ethereum accumulation trend hits new highs following FTX implosion
Ethereum whales and sharks have been accumulating Ether (ETH) at a record rate since the FTX crash, Santiment reported on Nov. 30. The market intelligence platform revealed that wallets holding between 100 and 100,000 ETH had reached a 20-month high. Santiment highlighted the accumulation pattern leading to Ethereum Merge. According to the chart, Ethereum whales and sharks acquired more ETH in the weeks preceding the Merge, which pushed the asset’s value up but dumped immediately after the Merge. The blockchain analytics firm noted that the addresses dumped between October and November.
- 💰 TP ICAP gets FCA approval to offer crypto services to institutional clients
TP ICAP's new exchange, known as Fusion Digital Assets, will use the firm's electronic OTC platform, Fusion, to give clients access to a non-custodial cryptoasset exchange for order matching and trade execution. The interdealer broker's new trading venue will be for institutional clients only. The firm's new venture will also integrate with Fidelity Digital Assets for safekeeping clients' assets and settlement services. The platform will offer diversified Liquidity from proven market makers around the globe. The wholesale crypto market has "lacked the credible infrastructure and assurance necessary for the firm's traditional client base to allocate capital," said Duncan Trenholme, co-head of digital assets at TP ICAP Group.
- 👉 Telegram sells usernames worth $50 million on the Open Network blockchain
The names were sold via Fragment, a platform that secures name ownership on the blockchain. In slightly less than one month, Telegram has sold $50 million usernames on The Open Network, a blockchain that the company developed, Telegram founder and CEO Pavel Durov claimed. Telegram in October gave users the ability to buy usernames for its app via a blockchain-based platform called Fragment. The platform lets interested parties buy available usernames and secure ownership on its "The Open Network" blockchain, known as TON. Telegram has sold more than $50 million in usernames, founder Pavel Durov said.
- 📣 Broker-dealer INX makes bid for Voyager's assets
Broker-dealer and digital assets trading platform INX is making a play for bankrupt crypto lender Voyager Digital's assets. INX joins other industry players such as CrossTower, Wave Financial and Binance.US in the bidding process. Voyager filed for Chapter 11 bankruptcy protection in July due to its over $650 million exposure to the collapsed crypto hedge fund Three Arrows Capital (3AC). Crypto exchange FTX.US initially won the bidding process for Voyager's assets in September. The auction process for Voyager's assets reopened after the FTX Group filed for Chapter 11 bankruptcy protection.
- 🇪🇺 Policymakers crank the heat on new EU crypto laws in FTX hearing
EU policymakers laid pressure on enforcing bloc-wide crypto regulations in the European Parliament’s economic committee today following the spectacular collapse of FTX. is a sufficient band aid for the implications of the debacle. "The collapse calls for urgent need of the MiCA regulation," said Alexandra Jour-Schroeder, the European Commission's financial unit deputy. FTX saw a dramatic demise after the collapse of its native token, FTT, a crash that affected millions of users and numerous firms. The exchange, which was valued at $32 billion at the start of the year, filed for bankruptcy protection on Nov. 11.
- 🇮🇹 Nexo secures registration in Italy
Crypto lender Nexo has gained a registration as a “virtual currency operator” in Italy, the company said in an announcement today. This allows the European-based firm to legally provide its services to Italian citizens. The license is issued by Organismo Agenti e Mediatori. The European Union is set to pass a set of laws on crypto assets that will allow firms to passport their license across the 27-nation bloc. Nexo plans to take advantage of this under the Markets in Crypto Assets regulation, according to the statement. The new rules are anticipated to come into force in 2024. Nexo’s website shows registrations in several U.S. states and six other countries.
- 🇧🇷 Brazil's long-awaited crypto bill inches to the finish line after seven years
After a series of legislative twists and turns spanning seven years, Brazil's long-awaited crypto bill could finally reach the president's desk. Brazil's Chamber of Deputies voted on Tuesday to pass on a crypto regulation bill to Brazil's president, Jair Bolsonaro, whose term ends on Dec. 31. The crypto regulation is to define digital assets and their service providers, as well as help guard against money laundering and fraud. The bill gained momentum after Brazil's Senate approved a version of it in April, but slowed in the past few months as it sat in the Chamber of Deputies awaiting a decision after several points in the Senate version were stripped out.
- 🏦 Kraken settles Iran sanctions violations with U.S. Treasury
Crypto exchange Kraken agreed to settle with the Treasury Department's Office of Foreign Assets Control over the firm’s apparent violations of sanctions against Iran. Kraken, which voluntarily disclosed the violations, has agreed to pay $362,000. The settlement marks the fourth time OFAC has settled with a crypto firm, following agreements with BitGo, Inc., BitPay, Inc., and Bittrex, Inc. OFAC is a sanctions office within the U.S. Treasury Department. For several years, Kraken processed null.7 million in transactions for users who appeared to be located in Iran. The 826 transactions occurred between October 2015.
- 💰 Aptos Labs partners with MoonPay for Petra wallet integration
Aptos, the Layer 1 blockchain, is partnering with web3 fintech firm MoonPay through an integration with Petra, the crypto wallet built by Aptos Labs. The partnership will make it easier for users to recruit into the Aptos ecosystem through MoonPay's offerings. Aptos has been one of the buzziest projects in crypto this year. It was co-founded by Mo Shaikh and Avery Ching, both of whom previously worked on Meta’s Diem project. The chain uses Move, a programming language that builds on top of Rust — the language used on the Solana blockchain. Move was developed by Meta for the Diem project.
- 🪙 MakerDAO is voting on increasing yield for the dai stablecoin
MakerDAO's governance forum is voting on increasing the dai (DAI) savings rate (DSR), which is the rate of interest the protocol pays to dai stakers. The DAO members are voting on whether to increase the current yield rate of 0.01% to one of four rates — 1%, 0.75%, 0.5% and 0.25%. According to a proposal made by the MakerDAO Open Market Committee. Voters can also vote to keep the current yield of 0.01% or abstain from the proposal altogether. At the time of publication, 99.7% votes were in favor of raising the rate to 1%, though the outcome could change as more votes come in. The vote is expected to finish on Dec. 1.
- 🪙 Huobi announces launch of world’s first national token, DMC
Huobi has said that it will be launching the world’s first national token called Dominica Coin (DMC) — endorsed by the Commonwealth of Dominica. As the world’s first national token, DMC will be issued on the Tron blockchain (TRC20) initially. Furthermore, Huobi state that the DMC token will allow holders the opportunity to obtain passports issued by the Government of Dominica, enabling holders access to over 130 countries without a visa. The DMC token “is granted a statutory status as an authorized crypto in the Commonwealth of Dominica and can be circulated locally in Dominica as a means of payment.”
- Gm @layer3
- 💰 Another $2B worth of Bitcoin withdrawn from Coinbase over weekend
Coinbase experienced withdrawals totaling roughly $2 billion worth of BTC over the weekend of Nov. 26 to Nov. 27, bringing the total amount withdrawn since Nov. 24 to $3.5 billion. Roughly null.5 billion worth of Bitcoin (BTC) was withdrawn from the exchange between Nov. 24 to Nov. 25. The exchange’s reserves have been losing around 50,000 BTC daily since Nov. 24, equating the total withdrawn amount to around $3.5 billion. According to data from Glassnode, all major exchanges experience massive BTC withdrawals. Amongst all significant exchanges, Binance is one of the few exceptions as it saw its its BTC reserves grow over the period — indicating that Binance users are exiting their BTC positions.
- 💰 Fidelity finally opens retail crypto accounts
Fidelity has opened up retail crypto trading accounts after first announcing a waiting list earlier this month. "The wait is over," the investment powerhouse said in an email Monday sent to some users, adding that a Fidelity brokerage account was needed to be able to fund a new Fidelity Crypto account. Once opened, the account promises commission-free trading of bitcoin and ether. Users trying to open an account were asked to read and accept a number of disclosures, including a risk statement which stated that "investing in, buying, and selling digital assets presents a variety of risks that are not presented by investing in, buying, and selling products in other, more traditional asset classes."
- 🟠 Binance moves $2 billion of bitcoin as part of reserves audit
Binance has moved 127,351 bitcoin ($2 billion) to verify to an auditor it has control over the claimed address. The transfer of such a large amount of bitcoin today from Binance to an unknown wallet led to questions among the crypto community. The pressure on centralized crypto exchanges to adopt “proof of reserves” has increased dramatically after the collapse of crypto exchange FTX. By publishing both the total amount of assets and liabilities, exchanges can indicate that they have the reserves on hand to meet customer withdrawal requests. However, these initial reserves don't necessarily show the full picture, as they don't provide details on the exchange's liabilities.
- 🏦 Coinbase strengthens European arm with new hires: Bloomberg
Crypto exchange Coinbase is reinforcing its European senior positions with a series of new hires and promotions, Bloomberg reports. The new hires come after, one week ago, Coinbase shares hit an all-time low. Crypto.com’s former general manager has come on board as country director for Ireland. The new director of controls in Germany is Michael Schroeder, leaving behind his position at smaller crypto exchange Bittrex as chief compliance and risk officer. In the UK, Elke Karskens is moving from senior director of marketing to regional director.
- 💰 Bitcoin mining revenue lowest in two years, hash rate on the decline
The revenue earned by Bitcoin (BTC) miners fell to two-year lows owing to poor market performance and a heavier computational demand amid rising network difficulty. However, an ongoing downturn in the Bitcoin hash rate over the past month. The total Bitcoin mining revenue — block rewards and transaction fees — in U.S. dollars fell down to $11.67 million, a number last seen on Nov. 2, 2020, when Bitcoin’s trading price was around $13,500. Adding to the above, the difficulty of mining a Bitcoin block has skyrocketed to an all-time high of almost 37 trillion — forcing Bitcoin miners to spend more energy and computational power to stay competitive.
- 🇸🇻 El Salvador Launches a National Bitcoin Office (ONBTC)
The “specialized administrative unit” ONBTC will coordinate and consult all bitcoin projects in El Salvador. El Salvador’s government doubled down on its crypto initiatives by creating a National Bitcoin Office (ONBTC) that will oversee all local projects related to the asset. Despite the prolonged bear market, El Salvador’s authorities seem determined to advance their bitcoin strategy. According to a recent LinkedIn post, the government created a National Bitcoin Office that will function as a “specialized administrative unit, with functional and technical autonomy within the Presidency of the Republic.”. The entity will analyze all individuals who wish to meet the BTC-loving President Nayib Bukele to discuss the nation’s.
- 📶 Ethereum Sharks And Whales’ ETH Accumulation Tops Two-Year High
Ethereum’s sharks and whales are buying ether at the fastest rate seen in years – according to a major analytics firm – a factor said could accelerate the value of the second-largest cryptocurrency in the next bull run. the digital asset surged by 50% in about a month. Ethereum’s active shark and whale addresses continue accumulating with prices less than a quarter of their All-Time High levels a year ago. In October/November 2020, these 100 to 100,000 ETH addresses assisted in pushing ETH to a +50% price rise over 5 weeks’’ Santiment tweeted. At the time of writing, ETH was changing hands for null,219.
- 🇸🇻 El Salvador President Bukele Launches Special Agency to Handle All Things Bitcoin
El Salvador has become the global face of Bitcoin adoption. It has been over a year since the Central American country adopted Bitcoin as a legal tender. The country has been buying one Bitcoin per day since Nov. 18. On Wednesday, El Salvador introduced a digital asset issuance bill for crypto adoption. According to a LinkedIn post by Torres Legal, the government of El Salvador created the National Bitcoin Office (ONBTC) to manage all things related to cryptocurrency. Torres Legal is a group of lawyers with business and financial trading operating in El Salvador. The President of El Salvador and the Ministry of Tourism signed the creation of the entity through Decree No. 49, published in the Official Gazette of Nov. 17.