[Weekly News] the 3rd week of Dec.
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Let’s find out about the hottest Bitcoin and cryptocurrency news for the 3rd week of December!
Ranked #1 in Trump NFT 24-Hour Trading Volume OpenSea
The Donald Trump Digital Trading Card, a series of NFTs issued by former U.S. President Donald Trump, recorded a transaction volume of 1,613 ETH in the last 24 hours, surpassing BAYC in OpenSea to become the NFT with the most sales in 23 hours. A few days ago, 45,000 polygon-based NFT trading cards of former U.S. President Donald Trump were released and sold out in 12 hours. The trading volume is over 520 ETH. The number of holders is 14,125, and the average digital card price is about $125 (0.1032 ETH).
Bloomberg reports a sharp drop in average daily trading volume on cryptocurrency exchanges after the FTX crash.
After the FTX crash, the average daily trading volume on the Centralized Cryptocurrency Exchange (CEX) plummeted by 50%, Bloomberg reported. According to Cisco Data, a cryptocurrency data analysis company cited by Bloomberg, the average daily trading volume of cryptocurrency exchanges for seven days from October 24 was $26.7 billion, while the trading volume for seven days from December 5 was halved to $13.1 billion. Hayden Hughes, CEO of social trading platform Alpha Impact, said, “People have withdrawn their assets from exchanges en masse because they are afraid that more exchanges will collapse. As trading firms and market makers also divested, trading volumes declined.” In addition, the centralized exchange (CEX) and the decentralized exchange (DEX) trading volume decreased. According to Depirama, the average daily trading volume of DEX for seven days from October 24 was $2.6 billion, but the trading volume for seven days from December 5 recorded $1.5 billion, a 44% decrease.
Basel Committee Approves ‘Regulation Limiting Banks to 2% of Cryptocurrency Holdings’
The Basel Board of Banking Supervision (BCBS) has recently approved regulations related to global cryptocurrency banking, foreign media reported. Reportedly, the rule requires that a bank’s exposure to certain crypto assets should not exceed 2% and generally be less than 1%. Certain crypto assets are tokenized traditional assets, including NFTs, stablecoins, and unbacked crypto assets that do not meet the criteria for classification. However, if the criteria are met, they are subject to the risk-based capital requirements set out in the existing Basel Framework. The regulation is in effect until January 1, 2025.
Former U.S. House of Representatives candidate “Ripple-SEC lawsuit expected to conclude in two months.”
According to YouTube, David Gokhshtein, founder of Gokhshtein Media and a former candidate for the U.S. House of Representatives, recently tweeted, “Ripple (XRP) and the U.S. Securities and Exchange Commission (SEC) are ‘unregistered. A court decision on the securities sale’ lawsuit will come out in two months,” he said. There have been recent rumors that Ripple and the U.S. will reach an agreement on December 15, and Ripple CEO Brad Garlinghouse said in October that the lawsuit is expected to end in the first quarter of 2023.
APE staking exceeded 80 million… Issued 22%
According to Etherscan, more than 80.6 million APE tokens have been deposited since APE staking began. It is 22.3% of the issuance volume, or about 278 million dollars. On the 6th, the APE staking platform ApeStake.io was launched, and reward accumulation began on the 12th. Based on CoinMarketCap, APE is currently trading at $3.46, down 10.33%.
WSJ “Tether Reserve Auditor Considers Suspending Cryptocurrency Firm Audits”
Stablecoin issuer Tether’s reserve audit partner, BDO, is reconsidering auditing crypto firms, the Wall Street Journal reported. Accounting firm BDO said, “Like other professional services firms, we are evaluating our approach to the cryptocurrency sector and the work we do for our clients,” and declined to comment on any specific companies. The Tether reserve audit was conducted at the BDO Italy office. Recently, Mazar, an accounting firm, announced that it would suspend its business (reserve proof service) for customers of cryptocurrency companies such as Binance.
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