Top news this week
Binance founder CZ must remain in the United States until the ruling and judge’s order.
Binance founder Changpeng “CZ” Zhao has been ordered to remain in the U.S. until sentencing in February, with a federal judge ruling the former cryptocurrency exchange CEO poses too great a flight risk if he is allowed to return to the United Arab Emirates. I did. On December 7, Seattle District Court Judge Richard Jones ordered Zhao to remain in the United States until his sentencing date of February 23, 2024. He faces up to 18 months in prison after pleading guilty to money laundering charges on November 21 and agreed not to appeal any sentence until then.
House committee passes bill to ‘maintain America’s leadership’ in blockchain space
A U.S. Congressional committee unanimously passed a bill supporting blockchain. The bill tasks the U.S. Secretary of Commerce with promoting blockchain deployment and potentially increasing the country’s use of blockchain technology. The bill addresses a series of actions the Secretary of Commerce would be required to take if passed, including creating best practices, policies and recommendations for the public and private sectors when using blockchain technology. The bill will now go to the House of Representatives for a vote. If passed, it would also have to pass in the Senate before receiving final congressional and presidential approval.
SEC postpones decision deadline for Grayscale spot Ether ETF
The U.S. Securities and Exchange Commission (SEC) has postponed a decision on whether to approve or reject a proposal for a spot Ethereum exchange-traded fund (ETF) offered by asset manager Grayscale. In the notice, the SEC said it would specify a longer period to consider a proposed rule change that would allow NYSE Arca to list and trade shares of the Grayscale Ethereum Trust. Grayscale first filed with the SEC last October to convert shares of the Grayscale Ethereum Trust into a spot Ether ETF, adding its name to the list of companies awaiting a decision from the regulator.
Elon Musk’s xAI files with SEC over alleged private sale of $1 billion in unregistered securities
According to documents filed with the U.S. Securities and Exchange Commission on December 5, xAI, Elon Musk’s X-Link artificial intelligence modeler, signed a private sale agreement for $865.3 million in unregistered equity securities. 1 billion dollars. A chatbot called Grok, a product of XAI, was recently released to X’s Premium+ subscribers. Musk announced the launch of xAI in July, claiming the goal was to “understand the universe.”
Bitcoin will hit record high by the end of 2024, Binance will lose first place — VanEck
Asset manager VanEck predicted that Bitcoin would hit a new all-time high by the end of 2024 due to a long-feared recession in the US and regulatory changes after the next US presidential election. The company is confident that the first spot Bitcoin ETF will be approved in the first quarter of 2024. But he also made gloomy predictions for the overall U.S. economy. VanEck is one of several companies, including BlackRock and Fidelity, vying for an approved spot Bitcoin ETF. VanEck also believes that the BTC halving, scheduled for April or May, will “minimize market disruption,” but that prices will rise after the halving.
winners and losers
Bitcoin this weekend (BTC) It’s in $44,402ether (ETH) In ~ $2,364 and XRP In ~ $0.66. The total market capitalization is $1.65 $1 trillion, according to CoinMarketCap.
Among the top 100 cryptocurrencies, the top three altcoin gainers this week are Bonk. (bonk) 203.10%, ORDI (Ordi) 134.34% and BitTorrent (BTT) 114.32%.
The top three altcoin losers this week are Maker. (MKR) -6.48%, LEO except ONE (Leo) -6.22% and Kaspa (what) 4.98%.
For more information on cryptocurrency prices, read Cointelegraph’s market analysis.
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most memorable quotes
“The expected approval of the ETF will be positive news for the cryptocurrency market and will likely lead to significant growth.”
adam buckerMercuryo Senior Counsel
“The only real use cases for cryptocurrencies are criminals, drug traffickers, money laundering and tax evasion.”
Jamie DimonJPMorgan Chase CEO
“Jamie Dimon is in no position to criticize Bitcoin with this kind of record.”
Gabor GurboxVanEck’s Strategic Advisor
“So for us, we think Bitcoin is a central bank. With that in mind, we think of Ethereum as our investment bank.”
Robbie YoungAnimoca Brand CEO
“ETFs are definitely a key driver of sentiment.”
john de wettZero Cap Investment Manager
“It takes the community and the industry as a whole to find ways to better educate people. That’s the difficult part. This is not a technical issue. “It’s an operational issue.”
Éowyn ChenTrust Wallet CEO
This week’s predictions
‘Early Bull Market’ — Bitcoin price prepares for first-ever weekly golden cross.
Bitcoin is gearing up for an “early bull market” as a unique charting feature emerges for the first time in its history.
Entrepreneur Alistair Milne posted on It was mentioned that we would see a crossover.
The 50-week and 200-week MAs are key trend lines for Bitcoin traders and analysts alike. The latter is the ultimate bear market support level and has never declined in value.
BTC price strength is moving in the direction of bringing the 50-week MA trend line above the 200-week MA trend line. Known as a “golden cross” on lower time frames, it is considered a classic bullish signal and the driving force for Milne is that there could be significant upside if the phenomenon plays out.
“Now the 50-week moving average will soon cross the 200-week moving average, forming a ‘golden cross’ for the first time. QED: Early Bull Market,” he wrote.
FUD of the week
Are cryptocurrencies for criminals? JPMorgan was fined $39 billion and has its own tokens.
JPMorgan Chase CEO Jamie Dimon is facing criticism from the cryptocurrency community after claiming that the “only real use case” for Bitcoin and cryptocurrencies is facilitating crime. But JPMorgan is the second-most penalized bank, paying $39.3 billion in fines for 272 violations since 2000, according to Good Jobs First’s violation tracking. About $38 billion of those fines were under the watchful eye of Dimon, who has been CEO since 2005.
UK regulators have added Justin Sun-linked Poloniex to their warning list following a $100 million hack.
The UK’s Financial Conduct Authority (FCA) has added cryptocurrency exchange Poloniex to its unauthorized entity warning list. The Seychelles-based exchange is one of three companies owned or affiliated with entrepreneur Justin Sun that has suffered four hacks in the past two months. The warning about Poloniex was published on the FCA website on December 6. No reason is given, but it does say: “Companies and individuals may not promote financial services in the UK without the necessary approvals or approvals.”
U.S. senator targets cryptocurrency in bill to sanction terrorist groups
A bipartisan group of lawmakers in the U.S. Senate introduced legislation on October 7 to counter the role of cryptocurrencies in financing terrorism, explicitly mentioning Hamas’ attacks on Israel. The bill would expand U.S. sanctions to include parties that fund terrorist organizations with cryptocurrencies or fiat currencies. According to Senator Mitt Romney, the bill would allow the U.S. Treasury to track “emerging threats related to digital assets.”
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Best magazine articles of the week
Proposal to regulate cryptocurrencies in the U.S. amid fears and doubts from lawmakers
If digital asset anti-money laundering laws become law, many cryptocurrency providers will have to learn how to comply with the same regulations as traditional financial institutions.
Bitcoin ETF expected to break records: Brett Harrison (formerly FTX US), X Hall of Flame
Brett Harrison taught a promising young Sam Bankman-Fried programming for traders at Jane Street, but was less than impressed with the man who became SBF.
Web3 Gamer: Do you need bots in your games? Illuvium CEO acknowledges ‘difficult task’, upside potential 42 times
The Pixels founder argues that games overrun with bots only show the interest of bot owners. We also review Galaxy Fight Club, chat with the CEO of Illuvium, and more.
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Cointelegraph Magazine writers and reporters contributed to this article.
