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Come every Saturday, Hodler’s Digest Will help you keep track of every important news report that happened this week. The best (and worst) quotes, adoption and regulatory focus, leading tokens, forecasts, etc.-Cointelegraph of the week on one link.
Headlines this week
Russia will decide between a total ban on cryptocurrencies and legalizing exchanges in 2022
A recent report indicated that Russia may ban cryptocurrencies nationwide. Or, crypto trading through regulated exchanges may continue under strict supervision.
According to a Reuters report, on the one hand, the Central Bank of Russia is said to support a potential move to make cryptocurrency illegal in the country. On the other hand, Anatoly Aksakov, head of the Financial Market Committee of the Russian Parliament, publicly disclosed that the industry may continue to operate in accordance with regulations to ensure stricter tax compliance. However, Aksakov left the possibility of a complete ban.
The U.S. Senate confirms the chairman of the CFTC because President Biden has announced the candidates for committee
After approval by the US Senate, the Commodity Futures Trading Commission (CFTC) now has a permanent chairman. On Thursday, Rostin Behnam, who has been acting chairman, won the permanent position. The CFTC is one of the three U.S. regulatory agencies responsible for overseeing the encryption industry.
Behnam has previously commented on the encryption field and pointed out that the CFTC should pay more attention to this field. He pointed out in October: “Given the size, scope and scale of this emerging market, how it interacts with and influences retail customers, and the scale of such rapid growth, the potential financial stability risks in the future, I think this is a major policeman. Keeping up with the rhythm is essential.”
The overall image of CFTC is also changing. In the next few months, 4 CFTC commissioner positions must be filled, which is a large number given that the regulator usually has 5 commissioners.
NYDIG has raised $1B of funds and is now valued at $7B
After successfully raising US$1 billion from WestCap and other venture investors, New York Digital Investment Group (NYDIG) now has a market value of approximately US$7 billion. Under the leadership of co-founder and CEO Robert “Robby” Gutman, NYDIG is a company dedicated to providing Bitcoin-centric investment opportunities (Bitcoin).
WestCap partner Scott Ganeles said in a public statement announcing NYDIG’s additional capital achievements: “NYDIG plays a unique role in the industry, enabling all types of companies to integrate Bitcoin in a safe and compliant manner.” “We are very much. Proud to be able to work with Robby and his outstanding NYDIG team because they opened up new accessibility avenues and further accelerated the adoption of Bitcoin.”
Made it: Nike entered Metaverse Games after acquiring RTFKT
Sportswear company Nike officially joined Metaverse this week through the acquisition of virtual sneakers and collectibles brand RTFKT.
Before moving, Nike has shown great interest in this emerging market By seeking Metaverse specific patent and trademark applications for its logo. The company also published job search information for people with specific Metaverse expertise.
“Our plan is to invest in the RTFKT brand, serve and develop their innovation and creative communities, and expand Nike’s digital footprint and capabilities,” said Nike CEO and President John Donahoe.
SEC postpones its decision on Bitwise and Grayscale’s Bitcoin ETF
The U.S. Securities and Exchange Commission (SEC) has decided to postpone the rulings of two physically-backed Bitcoin exchange-traded funds (ETFs) until February 2022. The committee announced its decision on Wednesday.
These two ETF applications were submitted by Bitwise Asset Management and Grayscale. Bitwise aims to launch a new spot Bitcoin ETF, and Grayscale intends to create a spot product by reusing its current Grayscale Bitcoin Trust product.
The US Securities and Exchange Commission rejected multiple Bitcoin spot ETF applications in 2021. The committee postponed a WisdomTree product of this type earlier in 2021, but denied it in December.
Winners and losers
This weekend, Bitcoin (Bitcoin) exist 46,292 USD, Ether (Ethereum) exist USD 3,852 and Ripple exist 0.79 USD. Total market capitalization 2.16 USD trillion, according to To CoinMarketCap.
Among the 100 largest cryptocurrencies, the top three altcoins saw the highest gains this week. (YFI) 52.51%, OKB (OKB) 31.83% and avalanche (AVAX) 29.75%.
The top three altcoin losers this week are Decred (DCR) -22.85%, Theta fuel (TFUEL) -17.98% and BitTorrent (BTT) -17.65%.
For more information on encryption prices, be sure to read Cointelegraph’s market analysis.
The most memorable quotes
“DeFi is the most dangerous part of the crypto world. This is where regulation actually does not exist, and—not surprisingly—this is a mix of scammers, scammers, and scammers between part-time investors and first-time cryptocurrency traders. Place. In DeFi, someone can’t even tell if they are dealing with terrorists.”
Elizabeth Warren, United States Senator
“I think we are winning [the digital currency] Due to the sum of free market activities of digital currency and blockchain-based financial services that occur within the scope of US regulation. The sum of these activities is advancing America’s broad economic competitiveness and national security interests. “
Dante Dipart, Circle Global Policy Director and Chief Strategy Officer
“If properly regulated, stablecoins can certainly become a useful, efficient, consumer-serving part of the financial system. Now, they are not. They have the potential to expand, especially if they are connected to one of the very large existing technological networks. Related words.”
Jerome Powell, Chairman of the Federal Reserve Board
“Bitcoin is not a good substitute for transaction currency. Although it is a stupid joke, Dogecoin is more suitable for transactions. The total transaction flow you use Dogecoin, such as daily transactions, has a higher potential.”
Elon Musk, Tesla CEO
“[Crypto] The company has cash and has been bidding for senior talent with only one or two years of cryptocurrency experience, and they cannot refuse. “
Adriana Xunagas, Project Manager at Heidrick & Struggles
“The beauty of encryption is that you can work anywhere. No matter where you start the flywheel, there is this kind of community approach.”
Zhang Matt, Founder of Hivemind Capital Partners
“Cryptocurrency cannot be a means of payment.”
Sethaput Suthiwartnarueput, Governor of Bank of Thailand
Forecast this week
This is why Bitcoin traders expect the market to fluctuate for the rest of 2021
Over the past week, the price of Bitcoin has been on a roller coaster ride.The price of the token was as high as nearly US$51,000, and it also fell to a level below US$46,000, based on Cointelegraph’s BTC price index.
According to a report by Delphi Digital, the price of Bitcoin may be relatively sideways at the end of the year. The company pointed out that the recent surge in stablecoin transactions is a reason for caution. Just like the price plunge in May 2021, current market conditions are defined as much higher than normal stablecoin trading volumes, presumably because investors exited BTC positions and entered stablecoins.
Delphi Digital stated that the “most likely way forward” for BTC in the short term is shocks or sideways. However, any major risk aversion events in the broader market may have a negative impact on leading digital currencies.
FUD this week
Indian Prime Minister Modi was hacked by Twitter account to try to carry out Bitcoin scam
On December 12, the Twitter account of Indian Prime Minister Narendra Modi (Narendra Modi) was hacked. Although this evil party only controlled the account for a short period of time, they were able to send a fraudulent tweet from the account announcing false news.
Hackers tweeted that India has adopted Bitcoin as the official currency-considering the headlines of El Salvador before the fact, this is a pretty big lie Adopt BTC as legal currency September 2021. The tweets sent by the hacker included a lie about the purchase of hundreds of BTC in India, as well as an external link.
Modi also Encountered a Twitter account hack September 2020.
After the compromise of ERC-20, BSC, and Polygon hot wallets, AscendEX lost $80 million
Hackers recently stole nearly $80 million in digital assets from the crypto trading platform AscendEX. According to estimates by the analysis agency PeckShield, the total number of stolen crypto assets was 77.7 million U.S. dollars. The payment includes USD 8.5 million worth of Polygon-based tokens, USD 9.2 million of Binance Smart Chain tokens and USD 60 million of Ethereum-based tokens.
According to a tweet from the cryptocurrency platform on December 11, plundering affected the platform’s hot wallets, but not its cold storage capacity. AscendEX also pointed out in the same tweet that the platform will cover customers who have lost funds.
UK advertising regulator bans crypto ads from Coinbase and Kraken
Coinbase, Kraken and several other companies involved in encryption have received strong opposition from the Advertising Standards Agency (ASA) of the United Kingdom for certain advertisements. ASA claims that these advertisements did not adequately provide viewers with appropriate risk warnings, and that they prey on viewers who lack encryption expertise.
An advertisement from Coinbase Europe pointed out that if held until 2021, early Bitcoin investments will generate huge profits. ASA postponed the ad, basically saying that it makes the future look like it has similar profit potential. ASA also pointed out that the advertisement did not explain that the future will not promise the same returns as in the past.
Best Cointelegraph features
Metaverse will bring unbridled evolution to NFT
NFTs will continue to exist, and the arrival of Metaverse will only make their appeal and use more popular.
A letter to Zuckerberg: Metaverse is not what you think
“Because the crypto space is largely a challenge for central banks, at least in the eyes of many people, everything that happens in banking and finance is interesting to us.”
When Novo faced NFT, Daft Punk met CryptoPunks
“When I finally took off my mask and boarded the plane home, it felt strange.”
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