Crypto Weekly Roundup

Crypto Weekly Roundup: BTC Hits 2023 High, Kyber Hacker’s Demands, And More

Crypto Weekly Roundup: BTC Hits 2023 High, Kyber Hacker’s Demands, And More

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Crypto enthusiasts and investors rejoice worldwide as Bitcoin punches through resistance to hit its new high for the year touching $39,500. Let’s find out more. 

Bitcoin

Bitcoin hit a new high for 2023 on Friday.

Business intelligence firm MicroStrategy, the largest corporate holder of Bitcoin, purchased around 16,139 BTC worth around $608 million at current prices in November. 

Ethereum

The US Security and Exchanges Commission (SEC) has opened the floor for public comments on Fidelity's application for a spot Ethereum exchange-traded fund (ETF).

Altcoins

Binance, the world’s largest cryptocurrency exchange, has announced plans to end support and phase out the Binance USD (BUSD) stablecoin by the end of December. 

Jito Foundation is launching a governance token aimed at both managing and spurring the development of the Solana-based liquid staking protocol.

A recent report claims that TRON has become the preferred platform for crypto transfers associated with groups labeled as terrorist organizations by Israel, the US, and others, like Hamas and Hezbollah.

Cosmos co-founder Jae Kwon has split ATOM after years of infighting and accusations that the community is conspiring against him. 

Business

Paxos has been granted an in-principle approval (IPA) by the Abu Dhabi Financial Services Regulatory Authority (FSRA) to introduce stablecoins to the United Arab Emirates.

IOTA continues strategic expansion by registering the IOTA Ecosystem DLT Foundation worth $100 million in the UAE.

Cryptocurrency exchange Poloniex is set to resume withdrawal services after a crippling hack that saw $100 million stolen from the platform. 

Genesis has struck a deal with its parent company, Digital Currency Group (DCG), which might finally end the longstanding legal feud between the two. 

Crypto venture capital firm Paradigm has voiced considerable criticism about Blast’s protocol marketing strategy, stating that it crossed the line in terms of messaging and execution. 

Circle, the entity issuing the USDC stablecoin, has announced a partnership with Japanese securities and banking giant SBI Holdings in a bid to boost USDC circulation in Japan. 

Web3

According to a recent report by CoinGecko, over three-quarters of all blockchain games launched in the past five years are struggling to stay afloat. 

Leading esports company Team Liquid is partnering with the developers of the NFT game Illuvium to test the latest features involving the player-vs-player (PvP) aspect of the game. 

Despite the unfavorable environment for crypto in many countries worldwide, leading crypto exchange OKX has announced the launch of a new crypto exchange and Web3 wallet in Brazil.

Security

The hacker behind the hack that saw ~$50 million drained from the decentralized exchange protocol KyberSwap promised to release a statement on a potential deal in the coming few days. 

Regulation

A federal judge has reprimanded the SEC, threatening to sanction its lawyers after their false arguments prompted a court to impose a temporary restraining order on crypto firm Debt Box.

Majority whip of the U.S. House of Representatives, Tom Emmer, has lambasted the Treasury Department’s recommendations for more control over crypto. 

Facing allegations and scrutiny from regulators and government officials in the U.S., Circle has issued a statement denying its purported ties with Hamas and Justin Sun.

Class action lawsuits were filed against high-profile organizations and individuals, including pro football star Cristiano Ronaldo, for promoting the Binance crypto exchange. 

According to a ruling by a federal judge, Changpeng Zhao, the founder and former CEO of the world’s largest cryptocurrency exchange, Binance, must remain in the US until his sentencing in February. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

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