Bitcoin hits historic annual high
This week Bitcoin reached its annual all-time high, briefly passing the US$42,000 mark on Monday, and surpassing US$44,000 yesterday.
The market is getting excited and showing once again that the bull market has begun, and this is the time to be cautious.
We are still 70% below the last historic high, and there is a lot of ground to cover in this cycle.
There's nothing wrong with taking profits, but be aware that what we're experiencing is just the beginning. Don't be a lettuce hand!
Even in a bull market, we will still have moments of correction. That's why risk management and clarity of your objectives are necessary in each crypto project you invest in: whether you want to operate as a trader, as a holder, or have a mix of capital for each type of operation.
El Salvador's bitcoin bet is now turning a profit amid latest crypto rally, President Nayib Bukele says
The President of El Salvador, Nayib Bukele, celebrates the fact that his country now has a profit of around 3.6 million dollars with the recent rise in the price of bitcoin.
In 2021, El Salvador became the first country to adopt bitcoin as legal tender. Bukele purchased around 2,300 bitcoins for the national treasury, with a total investment of around 100 million dollars.
The price of bitcoin fell significantly in 2021, leading many to question Bukele's strategy. However, the price of bitcoin has been recovering in recent months, reaching a record value of $68,789 in November.
Bukele took advantage of the increase in the price of bitcoin to trumpet the success of his strategy. On December 2, he tweeted: "El Salvador profits from bitcoin. Our position is now in profit of 3.6 million dollars. We have no intention of selling. This was never our objective. We are fully aware that the Price will continue to fluctuate in the future, but this does not affect our long-term strategy."
Bukele's strategy of adopting bitcoin as legal tender has been controversial. Critics say it is a risky bet and could lead to economic instability. Proponents say it is a way to modernize El Salvador's economy and attract foreign investment.
It is still too early to say whether Bukele's strategy will be successful in the long term. However, the recent rise in the price of bitcoin is a positive sign for advocates of adopting bitcoin as legal tender.
MicroStrategy buys $593.3 million in bitcoin
MicroStrategy, a software company, purchased an additional 16,130 bitcoins for $593.3 million. The company now holds a total of 174,540 bitcoins, making it the largest corporate bitcoin holder in the world.
The company also announced that it may raise up to $750 million through the sale of Class A common shares. The funds will be used to finance the purchase of more bitcoins and for other strategic initiatives.
MicroStrategy CEO Michael Saylor is a vocal supporter of bitcoin. He believes that bitcoin is a superior store of value to gold and that it has the potential to revolutionize the global financial system.
The purchase of MicroStrategy is a sign that the company is committed to its strategy of investing in bitcoin. It is also a sign that institutional interest in bitcoin continues to grow.
Starknet Foundation confirms screenshots showing draft airdrop plans
The Starknet Foundation has confirmed that screenshots circulating on social media showing plans for an airdrop are authentic. The foundation also confirmed that the snapshot for the airdrop has already been taken.
The screenshots show that the airdrop will distribute 100 million SNX tokens to users who have participated in Starknet-related activities before December 1st. Eligible activities include:
Have a balance of SNX or ETH on Ethereum
Have interacted with a Starknet smart contract
Have participated in a Starknet event or community
SNX tokens are Starknet's governance token. They can be used to vote on governance proposals, stake the network, and pay transaction fees.
Starknet is a layer 2 solution for Ethereum that aims to scale the network to handle a higher volume of transactions. The airdrop is a way for Starknet to reward users who are supporting the project.
Bitcoin long futures open interest held
Open interest in long-term bitcoin futures held by asset managers on the CME has reached an all-time high.
Open interest is the total value of bitcoin futures contracts that have not yet been settled. Long-term open interest refers to contracts that expire in more than one month.
Open interest in long-term bitcoin futures has been increasing in recent months as the price of bitcoin has been recovering. Rising long-term open interest is a sign that asset managers are increasing their bets on bitcoin for the long term.
There are several reasons for the increase in long-term open interest in bitcoin futures. One reason is that investors are becoming more confident in the future of bitcoin. Another reason is that asset managers are looking for new ways to diversify their portfolios.
Increasing long-term open interest is a positive sign for the bitcoin market. It indicates that investors are viewing bitcoin as a long-term investment.
Grayscale: Bitcoin ETF Approval Is a 'Matter of When, Not If'
On December 2, 2023, a United States federal court ruled in favor of Grayscale Investments, a cryptocurrency asset management company, in its lawsuit against the Securities and Exchange Commission (SEC). Grayscale was looking to convert its Bitcoin Trust (GBTC) into a spot ETF, which would allow investors to buy and sell holdings in GBTC as if it were a stock.
The SEC has rejected all bitcoin spot ETF applications since 2017, citing concerns about market manipulation. However, the court ruled that the SEC has no legal basis to deny approval of the GBTC spot ETF.
The court's decision is a significant victory for Grayscale and the cryptocurrency industry in general. It is likely to lead to faster approval of other bitcoin spot ETFs, which could increase institutional interest in bitcoin and boost the currency's price.
Coinbase Has No Plans to Launch Base Token
In an interview with Decrypt, Coinbase CEO Brian Armstrong said the company has no plans to launch a token for its layer 2 network, Base.
Armstrong said Coinbase is focused on making Base accessible to all users, regardless of whether they own Base tokens. He also said that Coinbase is carefully evaluating the benefits and risks of launching a Base token.
Coinbase's decision not to launch a Base token is a contrast to previous statements made by Paul Grewal, the chief legal officer at Coinbase. In September 2022, Grewal said that a Base token could be viable in the future.
Coinbase's decision may come as a disappointment to some investors who were hoping for a Base token. However, the decision can also be seen as a sign that Coinbase is committed to making Base accessible to everyone.
Whales Move Over $443,000,000 in Bitcoin and Ethereum in Just One Day
On November 29, 2023, a group of cryptocurrency investors, known as "whales", moved more than $443 million into bitcoin and Ethereum in just 24 hours.
The largest transaction involved an unknown address that sent 2,554 BTC, worth more than $95.6 million, to cryptocurrency exchange Coinbase. Other significant transactions included a transfer of 1,000 ETH, worth over $3.4 million, to the Binance exchange and a transfer of 500 ETH, worth over $1.7 million, to the hardware wallet Ledger.
Whale transactions are often interpreted as a sign that institutional investors are increasing their bets on cryptocurrencies. However, it is important to note that whales may also be transferring cryptocurrencies to different wallets or exchanges, or simply moving their positions.
North Korean Hackers Lazarus Group Stolen $3B in Cryptocurrency
On December 1, 2023, the North Korean-linked Lazarus hacker group stole $3 billion worth of cryptocurrencies.
The theft was carried out through a phishing attack that targeted Harmony, a decentralized finance (DeFi) platform. Hackers managed to trick Harmony employees into providing their login credentials, allowing them to access the platform and steal cryptocurrencies.
The stolen cryptocurrencies include Bitcoin, Ethereum, Tether and other smaller coins. Hackers have not yet managed to liquidate cryptocurrencies, but they are likely to use them to finance North Korea's nuclear and missile programs.
This is the largest cryptocurrency theft ever recorded. The Lazarus group theft is a reminder of the risks associated with cryptocurrencies. It's important to take steps to protect your cryptocurrencies, including using strong passwords and two-factor authentication.
AntPool agrees to refund record $3 million Bitcoin transaction fee
On December 2, 2023, AntPool, one of the largest bitcoin mining pools in the world, agreed to refund a record bitcoin transaction fee of $3 million.
The transaction fee was sent to AntPool on November 23, 2023, by an unknown user. The fee was so high that AntPool blocked the transaction and contacted the user to verify ownership of the coins.
After an investigation, AntPool decided to refund the transaction fee to the user. The refund was made on December 6, 2023.
This is the largest bitcoin transaction fee refund on record. The incident is a reminder of the risks associated with sending excessively high transaction fees.
Cristiano Ronaldo Sued for Promoting Binance
On November 27, 2023, a group of cryptocurrency investors filed a class action lawsuit against football player Cristiano Ronaldo, alleging that he made misleading statements about Binance, a cryptocurrency exchange.
Investors allege that Ronaldo, who is an ambassador for Binance, made statements on his social media that were false or misleading about Binance. They claim that Ronaldo said Binance was safe and regulated, when in fact the exchange has been the target of criticism for a lack of regulation.
Investors also allege that Ronaldo made statements about Binance that were false or misleading about its earnings. They claim that Ronaldo said Binance users could make quick money on the exchange, when in fact many users lost money.
The class action seeks compensation of at least $1 billion. Ronaldo and Binance have not yet responded to the lawsuit.
The class action lawsuit against Ronaldo is the latest setback for Binance. The exchange is also being investigated by regulators around the world.
BitMEX Founder Arthur Hayes: U.S. Treatment of CZ, Binance ‘Absurd’
On November 27, 2023, a group of cryptocurrency investors filed a class action lawsuit against football player Cristiano Ronaldo, alleging that he made misleading statements about Binance, a cryptocurrency exchange.
Investors allege that Ronaldo, who is an ambassador for Binance, made statements on his social media that were false or misleading about Binance. They claim that Ronaldo said Binance was safe and regulated, when in fact the exchange has been the target of criticism for a lack of regulation.
Investors also allege that Ronaldo made statements about Binance that were false or misleading about its earnings. They claim that Ronaldo said Binance users could make quick money on the exchange, when in fact many users lost money.
The class action seeks compensation of at least $1 billion. Ronaldo and Binance have not yet responded to the lawsuit.
The class action lawsuit against Ronaldo is the latest setback for Binance. The exchange is also being investigated by regulators around the world.
Apple sued for blocking crypto tech for P2P payments
On November 17, 2023, a group of consumers filed a class action lawsuit against Apple, alleging that the company is violating US antitrust laws by blocking cryptocurrency payment technology on its iOS devices.
The class action, which was filed in the US District Court for the Northern District of California, alleges that Apple is unfairly preventing cryptocurrency companies from competing in the mobile payments market.
The lawsuit cites a series of internal Apple documents that consumers say show the company is aware of the advantages of cryptocurrencies but is taking steps to prevent their adoption.
For example, the lawsuit cites a document that states that cryptocurrencies "may pose a significant threat to Apple's existing business."
The lawsuit seeks damages of at least $1 billion and a court order forcing Apple to allow cryptocurrency payment technology on its iOS devices.
Apple has not yet responded to the lawsuit.
SEC Keeps Pressing for Evidence of Potential Fraud at Binance.US
The US Securities and Exchange Commission (SEC) continues to pressure Binance.US to provide evidence of potential fraud, according to a report from The Wall Street Journal.
The SEC has been investigating Binance.US since January 2022 over allegations that the exchange failed to comply with securities laws. The SEC is particularly interested in whether Binance.US sold unregistered securities such as security tokens.
According to The Wall Street Journal report, the SEC is asking Binance.US for a series of documents, including transaction records, customer records, and employee records. The SEC is also asking Binance.US to provide information about its compliance procedures and internal controls.
Binance.US has denied the SEC's allegations. The exchange said it is cooperating with the investigation and is committed to complying with all applicable laws and regulations.
The SEC investigation against Binance.US is one of the largest cryptocurrency enforcement cases in the US. The case is being seen as a test of how US regulators will handle the cryptocurrency market.
U.S. prosecutors argue CZ may face up to 10 years
The US Securities and Exchange Commission (SEC) continues to pressure Binance.US to provide evidence of potential fraud, according to a report from The Wall Street Journal.
The SEC has been investigating Binance.US since January 2022 over allegations that the exchange failed to comply with securities laws. The SEC is particularly interested in whether Binance.US sold unregistered securities such as security tokens.
According to The Wall Street Journal report, the SEC is asking Binance.US for a series of documents, including transaction records, customer records, and employee records. The SEC is also asking Binance.US to provide information about its compliance procedures and internal controls.
Binance.US has denied the SEC's allegations. The exchange said it is cooperating with the investigation and is committed to complying with all applicable laws and regulations.
The SEC investigation against Binance.US is one of the largest cryptocurrency enforcement cases in the US. The case is being seen as a test of how US regulators will handle the cryptocurrency market.
Chainlink Staking v0.2 Is Now Live
Chainlink Staking v0.2 is now available on mainnet. This update brings a number of improvements, including:
- A new undocking mechanism that offers greater flexibility for validators.
- Security improvements for oracle services protected by Chainlink Staking.
The new undocking mechanism allows validators to undock their LINK tokens without losing the staking reward. This gives validators greater flexibility to manage their positions and can help improve LINK market liquidity.
Security improvements for oracle services protected by Chainlink Staking include increasing the slashing penalty for validators who go rogue. This will help ensure that oracle services are reliable and secure.
Chainlink Staking is a staking mechanism that allows users to earn rewards for providing security and reliability to the Chainlink network. The release of v0.2 is an important step in the development of Chainlink and will help make the network more robust and reliable.
Crypto mining firm Phoenix rises 50% on first day of trading after $370 million IPO
Cryptocurrency mining company Phoenix Group had a successful debut on the Abu Dhabi stock exchange, with shares rising 50% on its first day of trading.
Phoenix Group raised $370 million in initial public offering, which was oversubscribed 33 times. The company is the largest cryptocurrency mining company in the Persian Gulf region.
The success of Phoenix Group's offering is a sign of growing interest in cryptocurrency mining in the Middle East. The region is rich in energy and offers favorable conditions for cryptocurrency mining.
dYdX Chain starts paying trading rewards
dYdX Chain has started distributing trading rewards to users, following a governance vote that passed by a decisive margin.
Rewards are distributed in DYDX tokens, the native currency of dYdX. Users receive rewards based on the trading volume they generate on the platform.
The governance vote for the distribution of rewards was held on November 27, 2023. The proposal was approved by an 83% margin.
dYdX Chain is a decentralized derivatives platform that was launched in 2022. The platform offers a variety of derivatives products, including futures, options, and swaps.
Rewards distribution is an effort to encourage activity on the platform and reward users for their engagement.
Corporate Venture Capital boosts the Brazilian startup ecosystem with R $10 billion investment
In 2023, Brazilian startups raised more than R$10 billion in Corporate Venture Capital (CVC) investments. This is a record for the Brazilian startup ecosystem and reflects the growing interest of corporations in investing in innovation.
The main sectors that received CVC investments were:
- Information and communication technology (ICT): R$6.5 billion
- Health: R$1.7 billion
- Fintech: R$1.2 billion
- Logistics and transport: R$600 million
- Education: R$500 million
Some of the main corporations that invested in Brazilian startups in 2023 were:
- Bradesco Bank
- Itaú Unibanco
- Magazine Luiza
- Ricardo Electro
- Boticário Group
- Globo Group
- OK
- Petrobras
The growth of CVC investments in Brazil is a sign that corporations are recognizing the potential of startups to generate innovation and growth. CVC investments can help startups accelerate their growth, develop new products and services, and access new markets.
Solana DEX aggregator Jupiter starts token airdrop
Jupiter, a DEX aggregator on Solana, has started an airdrop of JUP tokens. The airdrop will distribute 10% of the total JUP supply, or 1 billion tokens, to users who meet the eligibility criteria.
The eligibility criteria for the airdrop are as follows:
- Have carried out at least US$1,000 in swap volume on Jupiter by the date of the airdrop snapshot, which was November 2, 2023.
- Have an active portfolio at Jupiter.
The airdrop will be distributed in four phases, with the first phase beginning on December 2, 2023. The first phase will distribute 2% of JUP tokens to all eligible wallets, with the remaining 7% being distributed based on a points-based system in the adjusted swap volume. The remaining 1% will be distributed to members of the Jupiter community on Discord and Twitter, as well as developers.
The airdrop is a way for Jupiter to reward users for their involvement on the platform. Jupiter is a DEX aggregator that allows users to compare prices and fees of different DEXs on Solana. The platform launched in August 2023 and has already attracted more than US$1 billion in swap volume.
Arbitrum DAO approves $23 million 'backfund' for projects that missed initial grant
The Arbitrum DAO approved a $23.5 million proposal to provide additional funding to 26 projects that were approved to receive funding from Arbitrum's Short-Term Incentive Program (STIP) but did not receive funding due to the program's limited budget.
Projects that will receive additional funding include:
- Gains Network (GNS)
- Stargate Finance (STG)
- Synapse (SYN)
- Wormhole
Funding will be distributed in ARB tokens, Arbitrum's native currency. Projects will receive funding in proportion to the size of funding they would have received in the original STIP.
Approval of the proposal was a victory for projects that were affected by STIP's limited budget. Additional funding can help these projects accelerate their development and growth on Arbitrum.
Crypto custody firm Copper launches institutional trading platform for tokenized securities
Cryptocurrency custody firm Copper has launched an institutional trading platform for tokenized securities. The platform, called Copper Securities, offers institutional investors access to a range of tokenized securities, including stocks, debt securities and derivatives.
The Copper Securities platform is built on the Ethereum blockchain and uses smart contract technology to facilitate the trading of tokenized securities. The platform also offers a variety of security features to protect investors' assets.
Copper Securities is an important platform for the growth of the tokenized securities market. The platform offers institutional investors a safe and efficient way to trade tokenized securities, which can help increase liquidity and adoption of this market.
Digital Asset Platform Coinchange Raises $10M to Scale API Yield Service
Digital asset platform Coinchange has raised $10 million in series B funding to scale its API-based yield service for bitcoin (BTC), ether (ETH), and core stablecoins.
The financing was led by G1 Ventures, with participation from Good News Ventures, Spirit Blockchain, K2.CA and Atoia Ventures.
Coinchange offers an API-based yield service that allows users to generate yield on their digital assets without having to worry about management or custody. The company uses a variety of yield strategies, including staking, lending, and arbitrage trading, to generate income for its users.
The series B funds will be used to scale Coinchange's yield service and expand its team. The company also plans to launch new products and services, such as an investment portal for institutional users.
Cross-chain protocol Wormhole closes $225 million funding round at $2.5 billion valuation
Blockchain bridge protocol Wormhole has closed a $225 million funding round, valuing the company at $2.5 billion.
The financing was led by Brevan Howard, with participation from Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital and Arrington Capital.
Wormhole allows users to transfer assets between different blockchains, including Ethereum, Solana, Terra, Avalanche, and Binance Smart Chain. The platform launched in 2022 and has processed more than $10 billion in transaction volume.
Funds from the funding round will be used to grow the Wormhole team, develop new features, and expand to new blockchains. The company also plans to launch a native token, the Wormhole Token (WHALE), which will be used to encourage community participation.
AC Capital is unveiling a new $20 million crypto fund
AC Capital, a venture capital firm based in São Paulo, Brazil, announced the launch of a new $20 million cryptocurrency fund. The fund, called AC Capital Crypto Fund, will invest in early-stage cryptocurrency startups in Latin America.
The fund will be led by André Chammas, founder and CEO of AC Capital. Chammas has over 20 years of experience in the financial sector and is an experienced startup investor.
The AC Capital Crypto Fund will invest in cryptocurrency startups that are developing innovative products and services that have the potential to transform the financial sector.
The company is looking for startups that are working in areas such as:
- Decentralized finance (DeFi)
- Tokenization
- Blockchain
- Cryptocurrencies
The fund is open to investments from startups from any country in Latin America. Startups interested in being considered for investment should contact AC Capital via the company's website.
Google Cloud confirms participation in EigenLayer testnet
Google Cloud announced that it is participating in the EigenLayer testnet, a layer 1 solution that combines scalability, security and interoperability.
EigenLayer is a project by EigenLabs, an Israel-based technology company. The solution uses a new consensus mechanism called Eigenchain, which is based on proof-of-stake (PoS) consensus.
Google Cloud is participating in the EigenLayer testnet to help evaluate the solution's scalability and security. The company is also providing infrastructure resources, including compute, storage and networking, to help run the testnet.
Google Cloud's participation in EigenLayer is a sign of technology companies' growing interest in blockchain solutions. EigenLayer has the potential to offer a more scalable and secure alternative to existing blockchain solutions.