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Crypto Weekly Roundup: Ledger Vulnerability, BlackRock & SEC Meet, And More

Crypto Weekly Roundup: Ledger Vulnerability, BlackRock & SEC Meet, And More

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All eyes are on the SEC as the regulatory body inches closer to the deadline by which it has to pass its verdict on the fate of the highly anticipated BlackRock spot Bitcoin ETF. Will the SEC approve the proposal? Are ETFs on the near horizon for crypto investors? Let’s find out more 

Bitcoin

The world’s first-ever Bitcoin Bond has received regulatory approval in El Salvador and is expected to launch by the first quarter of next year. 

Talking about El Salvador, the country’s newly launched Bitcoin “Freedom Visa” is reportedly near capacity and is expected to sell out before the end of 2023. 

Several financial giants seeking to get approval for the first-ever spot Bitcoin ETF, like BlackRock, Grayscale, Fidelity, and Franklin Templeton, met with the Securities and Exchange Commission for further discussions. 

Ethereum

JP Morgan analysts have deduced that the hype behind Bitcoin ETFs will not pay off as expected, and instead, Ether could exceed expectations by overshadowing Bitcoin in 2024. 

The United States Securities and Exchange Commission (SEC) has delayed its decision on the Invesco Galaxy Ethereum ETF to 2024.

Business

SafeMoon has filed for Chapter 7 bankruptcy as a whirlwind of accusations of fraud and mismanagement surrounding the once-thriving protocol.

Worldcoin’s upgraded World ID 2.0 version will now allow users to verify their humanity on a multitude of platforms like Microsoft, Reddit, Telegram, Shopify, and others. 

Cryptocurrency wallet Conio announced a partnership with cryptocurrency exchange Coinbase to bring a wide range of digital assets to Italy’s banks and financial institutions. 

According to Altindex.com, the crypto sector in the UK “grossed $1.9 billion this year”, which is a “137% year-over-year growth from $800 million in 2022”.

Investment management firm VanEck has predicted crypto trends for 2024 and offered insight into potential economic and technological developments.

NFT

Ethereum-based NFT collection Pudgy Penguins has revealed details about its upcoming Pudgy World, as it plans to make a foray into the gaming industry through its virtual world. 

Former United States president Donald Trump has announced a new NFT collection called the “Mugshot Edition” in an apparent nod to his ongoing legal troubles. 

Security

Ledger CEO Pascal Gauthier recently addressed the community about the recent hack that impacted Ledger and its systems. 

In a recent security breach, OKX DEX fell victim to an exploit, resulting in a substantial loss of over $400,000 in user funds. 

The United States National Vulnerability Database (NVD) flagged Bitcoin’s inscriptions as a cybersecurity risk on the 9th of December, pointing out the security flaw that allowed the development of the Ordinals Protocol in 2022. 

In a statement, SEC Chair Gary Gensler said the securities agency denied Coinbase’s petition for new digital asset regulation, claiming that the existing rules are sufficient. 

In a recent interview with CNBC, Gary Gensler hinted at a possible shift in the SEC's approach toward spot Bitcoin ETF applications. 

Tether, the issuer of the world’s largest stablecoin, announced a voluntary freezing policy for OFAC-sanctioned individuals as it steps up efforts to cooperate with law enforcement agencies. 

The Digital Asset Anti-Money Laundering Act, as proposed by Senator Elizabeth Warren, has gained new supporters in the form of five new senators. 

The chairman of the CFTC has claimed that most cryptocurrencies are commodities and has admitted that a ‘turf war’ is going on with the SEC over who gets to regulate crypto. 

Russia’s Ministry of Finance is contemplating exporting cryptocurrencies produced from mining activities taking place within the country’s borders. 

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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