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An NFT collection called the Donald Trump Digital Trading Card collection was revealed on Trump's Truth Social account, by the former U.S. president. The NFT collections will be minted on the Polygon blockchain. The website for the collection advertises that each card is only $99! A 1-on-1 Zoom call or an hour of golf with Trump are among the rewards available in a sweepstakes connected to the collection debut.
The Japanese government plans to lower tax laws for domestic crypto firms as it works to promote expansion in the country's tech and financial industries. Even if they haven't made a profit through a sale, Japanese companies that issue crypto are currently compelled to pay a flat 30% corporate tax rate on their holdings. As a result, a number of established crypto-blockchain firms and talent apparently choose to establish themselves elsewhere.
Users who mistakenly transfer unsupportable tokens to exchange addresses have access to an asset recovery option provided by cryptocurrency platform, Coinbase. By supplying the Ethereum TXID for the transaction where the asset was lost and the contract address of the lost asset, customers who deposited any of the nearly 4,000 ERC-20 tokens to an address can retrieve their unrecoverable payments through the cryptocurrency platform.
The top social networking platform in the Russian-speaking market, Vkontakte (VK), has launched an NFT service coupled with an instructional course on non-fungible tokens (NFTs). At a presentation in Moscow, VK's CEO Marina Krasnova and Chief Technology Officer Alexander Tobol said that the new features would soon be accessible to all users. Owners of digital collectibles will be able to transfer them to their accounts using the VK NFT option.
The New York State Department of Financial Services laid out that information financial institutions must submit before gaining approval to engage in virtual currency-related operations in a digital asset. The guidelines direct banks to submit a business plan outlining the proposed activity, explain how such a service would affect the bank's capital and liquidity, and notify NYDFS of their plans at least 90 days in advance.
The $82 billion asset manager WisdomTree's nine additional blockchain-enabled funds have received approval from the U.S. Securities and Exchange Commission (SEC). None of these funds actually monitor cryptocurrency assets, but the company does use the Ethereum and Stellar blockchains to maintain a secondary record of share ownership, making them blockchain-enabled or, as WidsomTree calls them, "digital funds."
In spite of the sector's collapse, two exchange traded funds that follow the U.S.-listed crypto futures have raised a combined $73.6 million ahead of their debut on the Hong Kong stock exchange. The bankruptcy of the crypto exchange FTX was the most recent blow to the industry after months of upheaval for cryptocurrencies. The value of Bitcoin has decreased by more than 70% since it reached a record high in Nov 2021.
Group of 20 (G20) member nations have disclosed a proposal to create a cryptocurrency policy consensus that would probably influence the worldwide regulation of the digital asset sector. According to Ajay Seth, the federal economic affairs secretary for India, the member states advanced the notion of a policy consensus in response to the rise in popularity of digital assets and its implications for the economy and monetary system on December 14.
According to Charles Hoskinson, the Cardano network might add the Solana smart contract technology as a sidechain, believing that solana would be in a much better position if it partnered with Cardano. Hoskinson also suggested that the popular memecoin Dogecoin may function as a sidechain for Cardano. The creator of Cardano claims that a sidechain should have its own processing model, idea of data availability, network stack, and consensus method.
According to Glassnode data results, the total number of active Ethereum (ETH) addresses has reached a significant new all-time high. On December 9, there were 1.4 million active addresses, a record high. The previous ATH, which was slightly above 1 million, was noted at the end of July. Many notable analysts saw significant changes in ERC20 and stablecoin transactions on December 9 when after focusing on some particular transaction types.
Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.
Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.
Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.
Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.
Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.