[Weekly News] the 1st week of Dec.
Hello! It is ReapChain.
Let’s find out about the hottest bitcoin and cryptocurrency news for the first week of December!
Representative of New York Mellon Bank “Institutional investors are interested in tokenization.”
Robin Vince, CEO of Bank of New York Mellon (BNY Mellon), said in an article for the Financial Times, “Cryptocurrency is only a small part of the world of digital assets. Most institutional investors are interested in tokenization, and distributed ledger technology could represent the next generation of finance.” At the same time, Vince said, strong regulatory principles should encourage innovation in the digital asset industry and protect customers. He explained that the distributed ledger technology underlying cryptocurrencies can be used in new market infrastructures that provide advantages to the financial system, including central bank digital currencies (CBDCs) and tokenized bonds.
U.S. senator seeks passage of tax exemption bill for cryptocurrency transactions under $50 by the end of the year
Pat Toomey, a U.S. Senate Banking Committee member, said in an interview with Bloomberg, “Cryptocurrency-related legislation, including a tax exemption bill for cryptocurrency transactions under $50, is likely to be passed by Congress within the year.” “We are trying to pass crypto legislation, which has been sluggish for months since the FTX crash. The bills include the Stablecoin Framework Act, the Infrastructure Bill Amendment to Broker Definition Act, and the Tax Exemption Act for Cryptocurrency Transactions Under $50. This FTX collapse is due to the failure to properly establish guardrails and consumer protection laws for the growth of the cryptocurrency industry. “Blockchain-based technologies and systems are still promising,” he said.
Founder of Metamask “I am ready to abandon the Apple ecosystem.”
Metamask co-founder Dan Finlay recently tweeted, “Apple’s fee policy is an industry monopoly. We are ready to abandon the Apple ecosystem.” Finlay accused Apple of inconsistently asking for a 30% fee by paying the gas fee required for NFT transfer through the Apple App Store. A few days ago, Coinbase tweeted, “Apple is blocking app registration, so users are unable to transfer NFTs to the iOS version of Coinbase Wallet.”
DEX with the most users in 30 days, Pancake Swap, Uniswap, and Quick Swap in order
According to Coin98 analysis, among DEXes, Pancake Swap (1.78 million), Uniswap (288,330), and Quickswap (75,620) had the most users over the past 30 days. Changpeng Zhao, CEO of Binance, retweeted this. Pancake Swap is based on the BNB chain. Uniswap is based on Ethereum, and Quickswap is based on polygons.
Piper Sandler Says Coinbase, FTX Bankruptcy Returns… The stock price doubled.”
According to Korea Economy TV, Piper Sandler, a Wall Street investment bank, repeatedly presented its previous investment opinion, ‘overweight,’ saying that the cryptocurrency exchange Coinbase (COIN) can benefit from the virtual asset market confusion caused by the FTX bankruptcy. “Coinbase has a solid cash reserve, which will allow it to take advantage of the upheaval of the FTX collapse and ensuing void in the cryptocurrency market to expand its market share — maximizing growth,” said analyst Richard Repitor. Base’s share price is also expected to soar more than double within a year compared to the previous day’s closing price of $45.72.”
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