Microsoft shareholders voted against investing in BTC, citing market instability. The company may not be ready for the risks associated with cryptocurrencies just yet. However, the crypto market is flexible, and giants often change their minds.
SUI WILL PARTICIPATE IN "OPODIS 2024" IN LUCCA ON DECEMBER 11
Sui will participate in "OPODIS 2024" on December 11 in Lucca. The presentation will be dedicated to the technical evolution of Mysten Labs from the Diem project of Meta to their role as original participants of Sui.
For more detailed information, you can check the official SUI tweet:
WHY BITCOIN FELL AND 5 REASONS FOR A RECOVERY IN BTC
Bitcoin continues to trade below the breached psychological level of $100,000. Amid the BTC correction, the BeInCrypto editorial team has compiled a review of the reasons for the coin's momentary weakening and the grounds for further growth. We explain why Bitcoin fell and which factors indicate that the cryptocurrency has not exhausted its potential for positive movement in this cycle.
EL SALVADOR MAY CHANGE BITCOIN POLICY FOR INTERNATIONAL MONETARY FUND LOAN
A delegation from the IMF has arrived in El Salvador, which will work over the next 2-3 weeks to negotiate a loan program of about $1.3 billion in exchange for changes in the policy of adopting bitcoin as legal tender. In particular, the administration of Nayib Bukele must limit the scope of the Bitcoin Law.
To this end, it is proposed to cancel the requirement to accept bitcoin as a means of payment and make this form of payment 'voluntary.' In addition, the government of the Latin American country must stop recognizing bitcoin as legal currency and limit the use of BTC in the public sector.
The IMF has stated that if a consensus is reached, El Salvador will return to the international financial community and will also gain access to an additional $2 billion in credit from the World Bank and the Inter-American Development Bank (IDB).
President of El Salvador Nayib Bukele reported that after bitcoin surpassed the $100,000 mark, the country's profit exceeded $300 million.
CHINA WILL INEVITABLY CREATE A STATE RESERVE IN BITCOINS
Changpeng Zhao noted that Trump has not yet taken office as president, so the task of forming a reserve in bitcoins has yet to be completed. As soon as this happens, other countries will start doing the same.
Small countries will be the first to create a state reserve in bitcoins, and this will happen gradually. Later, large countries, including China, will follow suit. Zhao noted that China's position on cryptocurrencies is more difficult to predict, given the lack of transparency on the part of the government. Currently, cryptocurrency trading and mining are prohibited in the country.
However, Zhao believes that China will inevitably have to create a state reserve in bitcoins, since this is the only “hard asset”. Moreover, this can happen without prior notice - China will announce the existence of such a reserve after the fact.
“I would be shocked if the Chinese government first announced something and only then started doing it. "I wouldn't be surprised if China first accumulates bitcoins and then announces them. The authorities can act very quickly if they want to," Zhao said.
WHAT IS HAPPENING WITH BITCOIN AND SHOULD WE EXPECT A NEW WAVE OF GROWTH?
Bitcoin started the new working week with a decrease despite the fact that the cryptocurrency has reasons for continued positive movement. We explain what is happening with Bitcoin and why many participants in the crypto community are waiting for the continuation of the coin's growth. We explained how the process of buying Bitcoins with a card for rubles looks.
IRAN TO REGULATE CRYPTOCURRENCIES TO BYPASS SANCTIONS
The Iranian government intends to regulate cryptocurrencies by introducing additional rules instead of direct restrictions. This was announced by the country's Minister of Economy and Finance Abdolnasser Hemmati, local media reports.
According to the official, the authorities intend to eliminate the negative impact of crypto assets on the economy and use its positive effects.
Hemmati said that he hopes to see the use of digital currencies to increase youth employment in Iran, counter US sanctions, and align the country's activities with the global economy.
The Central Bank of Iran will become the regulatory body for cryptocurrencies. Its representatives have already announced that they will direct their policies to support crypto traders in complying with local tax and anti-money laundering laws.
According to local economists, Iranian investors currently own crypto assets worth between $30 billion and $50 billion, which is roughly equivalent to a third of the country's entire gold market.
A recent study has found that most Iranian centralized crypto exchanges are government-affiliated and involved in sanctions evasion.
NAIB BUKELE: EL SALVADOR'S UNREALIZED PROFIT FROM BITCOIN PURCHASES EXCEEDS $300 MILLION
Nayib Bukele published data on Bitcoin reserves on the social network X, according to which El Salvador spent almost $270 million to purchase 6,180 BTC. The average purchase price was about $44,740, which demonstrated a return of 122%.
In total, unrealized profits amounted to more than $333 million. Moreover, since September 6, 2022, not a single Bitcoin has been sold, with the exception of a charitable donation of 2 BTC, which the Salvadoran government donated to philanthropist Shin Fujiyama to finance a project to build 1,000 schools in Honduras.
Previously, digital asset services provider NexBridge partnered with Bitfinex Securities to launch the first public offering of tokenized U.S. Treasury Bills (USTBLs) regulated by El Salvador's National Digital Assets Commission.
PETER SCHIFF: "BITCOIN IS PUBLIC ENEMY NUMBER ONE"
Peter Schiff has once again made critical remarks addressed to the Bitcoin community. He is sure that crypto industry participants are deeply mistaken in the idea that gold is losing its usefulness and properties as a basic reserve asset. According to Schiff, gold is the most useful metal for which there is demand and which can strengthen the country's economy, unlike Bitcoin.
The cryptocurrency skeptic believes that Bitcoin has become a real threat not even to gold, but to the United States, since the government intends to spend the population's money and direct capital to the purchase of BTC to the detriment of the real sector and productive business.
"It is one thing when individuals voluntarily spend their own money buying Bitcoin. But it goes beyond all reasonable limits when they bribe government officials so that they spend the people's money buying BTC. "Bitcoin is now public enemy number one," Schiff said.
He previously called it "deeply ironic" that such a "financially insignificant asset" as bitcoin could reach a value of $100,000.
The United Kingdom Tightens Control: Pump Fun Banned
The FCA has prohibited the activities of the Pump Fun platform, citing its unsafe nature for users. The regulator continues to strengthen oversight of the crypto sector.
Friends, yesterday Bitcoin surpassed the mark of $100,000, but it couldn't hold above that; the swings were brutal, many were knocked out, but my team and I came out ahead.
Now we see that, one way or another, the lows are rising; we are tightening in a narrowing range. After an upward movement, such consolidation usually leads to a further breakout upwards.
Based on technicals and the news background, by the way, today neutral macro data was released for the market. Overall, I believe there is still room to go up since we had a small correction. There’s simply no reason to push the price down right now.
I am expecting a mark around $110,000; if very positive news comes in, possibly even higher. The main thing is not to fall below $90,000, as that is the key support right now.
DONALD TRUMP NOMINATED PAUL ATKINS FOR THE POSITION OF SEC CHAIR
U.S. President-elect Donald Trump officially nominated Paul Atkins for the position of SEC Chair. The politician announced this on his social media platform Truth Social.
"Paul is a proven leader in common-sense regulation. He believes in the prospects of reliable, innovative capital markets that meet the needs of investors and provide capital to make our economy the best in the world," Trump stated.
He also noted the nominee's understanding of digital assets. Atkins is a board member of the non-profit organization The Digital Chamber. The group promotes and lobbies for blockchain technology, bitcoin, and other cryptocurrencies in U.S. political circles.
From 2002 to 2008, Atkins served as an SEC commissioner, where, according to Trump, he "strongly advocated for transparency and investor protection."
After leaving public service, the candidate founded and led the consulting firm Patomak Global Partners. Its clients include representatives from the blockchain industry.
PHANTOM WALLET DEVELOPERS 'FREE' CLIENTS FROM SEED PHRASES
Phantom emphasized that for most clients, writing down or remembering the seed phrase when creating a new crypto wallet is very difficult. To avoid inconvenience, users often resort to potentially dangerous steps, such as taking a screenshot of the secret combination of words. And a piece of paper with notes can be lost along with access to the wallet.
The developers decided to simplify the process of creating a crypto wallet and implemented registration via email or through Google and Apple accounts. To access the wallet, it is enough to enter a four-digit PIN code.
The feature, launched in Phantom applications, is developed on a non-custodial key management protocol. The seed phrase has not gone anywhere — it is hidden from the user and stored locally on their device, noted Phantom. All backups of the phrases are stored on Phantom's servers in encrypted form, and backup copies of the keys are distributed among the participants of the Juicebox network.
Thus, no party, except for the client, will ever be able to restore the seed phrase in decrypted form, summarized the developers.
PAUL ATKINS WILL TAKE OFFICE AS CHAIRMAN OF THE SEC
Focused on transparency and innovation, Paul Atkins assumes the role of chairman of the SEC. This is a step towards the development of the cryptocurrency industry.
TOP-7 ASSETS IN THE PORTFOLIO OF A WISE CRYPTO INVESTOR
The growth of altcoins has become a noticeable trend, but it is too early to talk about the beginning of a full-fledged 'altseason', and for now, the market provides opportunities for investments, believes Tehnobit CEO Alexander Peresichan. According to the expert, to optimally utilize the growth, it is advisable to have a diversified portfolio in advance, and if this has not been done, it is still not too late to include several key assets in it.
HYPE TOKEN FROM HYPERLIQUID MADE 3X IN FIVE DAYS AFTER TGE
On December 4, the price of HYPE — the token of the decentralized trading platform (DEX) Hyperliquid — exceeded $12. Over the past five days since TGE, the asset has tripled in value.
HYPE is required for staking within the PoS consensus mechanism of HyperBFT and serves as a fee for processing transactions in the HyperEVM execution environment.
The token is also traded in pairs with USDC on the platforms of the Hyperliquid ecosystem. According to the team, the protocol's throughput reaches 200,000 TPS.
At the time of writing, the daily increase of the coin has slowed to 34.7%. By market capitalization ($1.55 billion), the asset ranks 46th. FDV reached $12 billion.
According to DeFi Llama, Hyperliquid has taken the top spot in TVL among decentralized perpetual swap platforms.
ALTCOIN SEASON IN FULL SWING: TRADERS ARE BUYING TRX, XRP, SOL, AND OTHER COINS
The altcoin season has fully kicked in: traders are switching from Bitcoin to other tokens In November 2024, Bitcoin renewed its historical maximum and nearly reached the $100,000 mark. A wave of optimism quickly spread to the altcoin market, many of which continue to set new records.
HACKERS ATTACK SOLANA DEVELOPERS BY SUBSTITUTING JAVASCRIPT LIBRARY
Attackers have hacked the solana/web3 js JavaScript library, a key tool that developers use to build decentralized applications on the Solana blockchain, according to analysts at Anza.
On December 2, hackers gained access to the account that maintains the library. They hacked versions 1.95.6 and 1.95.7, injecting malicious code that extracted private keys and siphoned funds from the protocols.
Projects or systems that downloaded and integrated these files unknowingly became vulnerable to the exploit.
The incident resulted in the theft of digital assets worth about $160,000, according to Solscan.
The Anza team stated that the exploit was not related to the Solana network itself, but only to the developer library. However, the malicious code could only attack applications that directly handle private keys, for example, using bots. However, the company did not disclose the victims of the attack.
The experts asked all Solana developers to update their JavaScript libraries to the latest version.