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Now, let’s dive into this week’s top crypto news. Bitcoin’s market cap experienced a significant peak, seeing a 172% increase in 2023. Despite this, BTC faced some challenges in finding clear direction, and stablecoin dominance hit the lowest level since December 2021, despite reaching a record monthly supply. In recent polls, 73% of US voters expressed the belief that presidential candidates should be knowledgeable about cryptocurrency, and a global survey found that 99% of law enforcement officials feel the need for more crypto-related training.
This week also saw significant discussion about ETFs. Big money management firms expect the US SEC to approve spot Bitcoin ETFs by January 10. Figures such as Galaxy Digital CEO Michael Novogratz, Grayscale CEO Michael Sonnenshein, and Needham analysts all weighed in on the potential impact of ETF approval on the crypto market. Court news has also made headlines, with developments such as the revocation of the extradition approval for Do Kwon, the freezing of assets belonging to the 3AC co-founders, and various court decisions related to fraudulent activity.
In global news, various countries have made strides in the crypto space. From South Korea’s plans for a blockchain-powered digital asset trading platform to China’s Ministry of Industry aiming to foster NFT and dapp growth, and the completion of the world’s first cross-border CBDC-powered precious metals deal by the Bank of China. Russia’s digital ruble is also set to be incorporated into the nation’s tax code.
Numerous industry-related highlights and product launches took place as well, including the winner of the Mastercard Lighthouse Finitiv program, Tap Protocol’s successful funding round, and the launch of cryptocurrency trading services in New Zealand by Revolut.
Security remains a top concern, as experts continue to discuss whether hackers are outpacing security measures in the crypto space. Various incidents of hacking, vulnerability and exploit identification, and security concerns have been reported over the week.
Before we conclude the weekly digest, take a moment to check out these last-minute crypto gift ideas for tech natives and newcomers.
To conclude on a lighter note, we’ve curated a collection of 20 hand-picked crypto jokes to brighten your day! Enjoy!
