[Weekly News] the 2nd week of Dec.
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Let’s find out about the hottest bitcoin and cryptocurrency news for the 2nd week of December!
US Attorney “50.1% chance of winning Ripple case.”
Jeremy Hogan, a partner attorney at the US law firm Hogan & Hogan, recently posted on YouTube, “There is a 50.12% chance that Ripple will prevail in a lawsuit between Ripple (XRP) and the US Securities and Exchange Commission (SEC). Has a 29.98% chance of winning,” Pinbold reported. According to the report, Hogan said, “As a result of reviewing the legal documents related to this case, it is judged that there is a high possibility of winning the case because there is no separate legal obligation for the buyer of XRP like securities. In other words, the concept of an investment contract does not exist because the investment act has not been carried out. However, the SEC could prevail when the courts conceded that Ripple sold XRP for their business. In addition, the probability that the court will decide this case to be a draw was found to be 19.1%.”
Arc Investments CEO “Decentralized finance will be in the limelight with FTX collapse.”
Cathie Wood, CEO of Ark Investments, recently told Yahoo Finance that “the FTX collapse will push Defi (decentralized finance) networks even more into the limelight, and several indicators point to them already going strong.” The Daily Issue reported. Cathy Wood said, “The lesson of the FTX debacle is that it made me ponder just how much more important a role Defi networks will play in the financial system going forward. Defi users could organize their positions without problems even when this incident occurred. Many businesses affected by FTX have been forced to shut down, but at least Defi is functioning normally,” she said.
Author of Black Swan’s “Inexperienced investors enter the cryptocurrency market with utopian fantasies.”
According to YouTube, Nassim Nicholas Taleb, a famous American essayist, economist, and author of the bestseller Black Swan, said, “The reason people who lack investment experience keep entering the cryptocurrency market is survival bias. (Because of survivorship bias.).” He said, “When people first encounter new technologies such as cryptocurrency, they have utopian tendencies. This is because of the survival bias, a positive and subjective view without considering negative factors when encountering or experiencing something.” Earlier, in June, he said, “This is an ice age, not a cryptocurrency winter, and spring will not come in the future.”
Russian Central Bank “supports cryptocurrency legalization bill… However, we need to be careful with the domestic distribution.”
According to Bitcoin.com, the Central Bank of Russia (CBR) has revealed that it supports the law to legalize cryptocurrency mining in principle. CBR explained, “We agree to legalize cryptocurrency mining, but the mined cryptocurrency must be sold only abroad or traded domestically within strict regulations.” Previously, Coinness reported that Russian lawmakers submitted to the State Duma (House of Representatives) a bill to amend the Digital Asset Law to legalize cryptocurrency mining and allow the sale of digital assets issued through approved institutions in November. However, have. However, the Duma or the Central Bank has not yet approved the bill.
Source: https://www.coinpress.co.kr/2022/12/12/39627/
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