This is your weekly digest of top crypto news from Cryptonews.com, followed by a collection of 20 hand-picked crypto jokes.
The Bitcoin ETF Countdown Begins
The countdown for the eagerly anticipated Bitcoin ETF has begun. Representatives from at least seven companies seeking to launch ETFs met with the US SEC officials. Market Haven predicts that the spot BTC ETF will generate a staggering demand, potentially reaching up to $3 billion in the initial days. Additionally, VanEck has named bitcoin as one of the firm’s “screaming buys” for 2024.
Solana and Avalanche Take the Lead
This week, Solana and Avalanche emerged as the top performers with 620% and 290% price growth respectively, securing their positions as frontrunners in the crypto market.
Taproot Wizards contributor launched a script to reject Ordinals inscriptions, and despite a decline in crypto revenue, Robinhood expanded its crypto operations.
Vitalik Buterin, the co-founder of Ethereum, blamed rising transaction fees for Web3’s drift from decentralization. He proposed three alternative methods aimed at simplifying Ethereum’s Proof of Stake (PoS) design.
China made significant advancements in the crypto space by launching its first automated digital yuan wallet-opening machine for overseas passport holders. Hong Kong also prepared to authorize funds with direct exposure to digital assets, including spot crypto ETFs.
In terms of regulations, Japan’s government abolished the crypto tax on unrealized corporate gains, while Argentina’s newly elected government introduced a bill to regulate crypto holdings for taxpayers.
Surfshark discovered that nine out of the fifteen most popular crypto apps collected data to track their users. Additionally, a privacy advocate alleged that the Ledger Live wallet software monitored its users.
To safeguard user privacy, OKX announced plans to delist eight privacy-focused coins in January.
Crime in the crypto industry persisted as South Korean police shut down a $32 million crypto scam ring. Immunefi also predicted that 2024 might witness the most substantial losses in Web3 due to the rise in crypto prices.
Legal developments included Mt. Gox creditors receiving compensation payments via PayPal in Japanese yen, although some double payments occurred. Changpeng Zhao, the CEO of Binance, faced numerous legal troubles but saw his wealth surge by $25 billion. In another surprising twist, a 23-year-old student turned out to be the majority owner of a Bitcoin mining farm involved in legal battles. China’s Supreme People’s Procuratorate disclosed details behind the seven-year prison sentence given to RenrenBit founder Zhao Dong.
In other news, a US Bankruptcy Court approved Celsius Network’s proposed “MiningCo Transaction,” and FTX debtors released estimated values for cryptocurrency claims. FTX and its debtors also reached a settlement agreement with SBF regarding claims related to the Embeda acquisition.
As for the intersection of AI and crypto, the company called Rejuve is leveraging AI and crypto to improve individuals’ health and longevity. Sotheby’s, the renowned auction house, had a successful year in digital art sales, generating “close to $35 million” in revenue.
Now, let’s take a break and enjoy some crypto jokes!
