CoinCodeCap Weekly: Bought the Dip, Twitter, & Block [29 November – 04 December 2021]

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CoinCodeCap Weekly brings you an entire week’s news in one article. Got no time to stay updated during weekdays? No worries, we got your covered!

Coincodecap Weekly 29 November - 04 December 2021

29th November 2021

A top official from France’s central bank stated that the Bank of France seeks to have more control over DeFi (DeFi). Beau spoke about the evolution of crypto-focused policy in Europe, saying that “other regulatory changes will have to be made that are also very important.”

8.3% of the polled South Africans own NFTs and further plan to buy more, according to the most recent Finder online survey. In addition, the results indicated that men are more likely than women to have NFTs in 18 of the 20 countries.

AMC, in collaboration with Sony to release Spider-Man NFTs ahead of the upcoming film. To be eligible, one must purchase or reserve their ticket through AMC’s website or mobile app. The promotion is only valid for showings on 16 December at AMC theatres in the United States. Over 100 Spider-Man-themed NFT designs will be available.

AMC In Collaboration With Sony To Release Spider-Man NFTs Ahead Of Upcoming Film

Cryptocurrency exchanges are seeing a decrease in new signups in India as more people fear a ban on virtual money. When word got out that the government was about to introduce a new cryptocurrency bill in Parliament, crypto values on Indian cryptocurrency exchange platforms plummeted. Since last week, cryptocurrency prices in India have stayed low.

The Omicron token’s value has increased by 900% due to the name similarity with a new COVID variant. It rose from the mid $60 to an all-time high of $675 in just two days. Omicron is a new decentralized reserve money protocol that relies on Ethereum’s Arbitrum layer-two network. The USD Coin (USDC) stablecoin and liquidity provider tokens are the crypto assets backing its native OMIC token.

Shiba Inu to connect with big businesses through Newegg soon. Bitpay is the only cryptocurrency that Newegg presently accepts. However, according to AMC Theatres CEO Adam Aron, who stated that his company would begin taking SHIB for payments in the first quarter, the crypto payment service provider will likely offer SHIB support soon.

Tornado Cash is ready to combine with Arbitrum, Ethereum’s Layer 2 networkTornado Cash users will execute Ethereum transactions faster and cheaper once the system runs. Tornado Cash improves transaction privacy by acting as an Ethereum mixer. It accomplishes this by severing the on-chain connection between the sender and the receiver address.

Michael Saylor now owns 1 out of every 173 bitcoins. In addition, MicroStrategy, the business analytics software company founded by bitcoin bull Michael Saylor, has added to its cryptocurrency holdings by purchasing another $414 million. 

Michael Saylor Now Owns 1 Out Of Every 173 Bitcoins!
Michael Saylor now owns 1 out of every 173 bitcoins!

Twitter announced that the CEO of Twitter would step down, and Parag Agrawal to take his place. In a statement posted on his verified Twitter account, he said, “I want you to know that this was my decision, and I own it.”

30th November 2021

The ‘Metaflower Super Mega Yacht’ NFT Sells for a Record $650K. The lucky and anonymous owner of the Metaflower Super Mega Yacht will be able to enjoy its completely digital DJ booth, helicopter landing pad, and single hot tub in “The Fantasy Islands,” a self-described “luxury real estate development project of 100 NFT private islands on the Ethereum blockchain.”

The 'Metaflower Super Mega Yacht' Nft Sells For A Record $650,000
The ‘Metaflower Super Mega Yacht’ NFT Sells for a Record $650,000

Shiba Inu has increased by almost 25% after cryptocurrency exchange Kraken has announced support for it. Deposits are now live, and SHIB trading was expected to commence on Tuesday. SHIB increased by more than 15% on the daily candlestick, rising from $0.00004522 to $0.00004573, breaking above the EMA 20 resistance as verified on the charts on 16 November.

Indonesia’s Central Bank Wants to ‘Fight’ Crypto With CBDC. According to Juda Agung, despite having a significant impact on the financial system, crypto-assets are traded alongside commodity futures and regulated by the trade ministry.

Kelly ETFs filed for developing an Ethereum ETF on Monday under the Investment Company Act of 1940. This means it could go live on 12 February next year if regulators don’t delay it. The fund would seek to purchase CME near-month ethereum contracts.

Budweiser launched its first-ever NFT line, which will serve as a stepping stone to its bigger crypto goals. These NFTs will be your key to the “Budverse,” allowing you to get access to special bonuses, rewards, and surprises. Depending on rarity level, it’s still unclear which blockchain will host the Budverse Cans, sold on a secret NFT marketplace for $499 or $999.

Crypto-asset demand could increase as a dollar crash is inevitable. According to economist Stephen Roach, macroeconomic imbalances might cause the US dollar to implode in the next one to two years. 

Crypto-Asset Demand Could Increase As Dollar Crash Is Inevitable
Crypto-Asset Demand Could Increase as Dollar Crash is Inevitable

Purpose Investments launched the world’s first actively managed and covered call cryptocurrency ETFs: Purpose Bitcoin Yield ETF, Purpose Ether Yield ETF, and Purpose Crypto Opportunities ETF. 

In a DeFi hack, almost $31 million in various cryptocurrencies were taken from MonoX. Wrapped ether (WETH) was worth $18.2 million, and polygon was $10.5 million (MATIC). WBTC, LINK, GHST, DUCK, MIM, and IMX were among the other tokens seized.

1st December 2021

2% digital services tax on cryptocurrency exchanges in the United Kingdom. According to the U.K.’s tax authorities, because cryptocurrencies are not currencies or commodities, they are not exempt from the tax earmarked for tech behemoths like Facebook and Google. The U.K. government established the digital services tax in April 2020 to target “big multinational firms with revenue derived from providing a social media platform, a search engine, or an online marketplace to U.K. customers.”

Crypto.Com to buy NADEX and the small exchange from U.K.’s I.G. Group. The exchanges were purchased for $216 million from the online trading platform I.G. Group, with the acquisition expected to be completed by Q2 2022 following a regulatory review.

Crypto.com To Buy Nadex And The Small Exchange From Uk'S Ig Group
Crypto.Com To Buy NADEX And The Small Exchange From UK’s IG Group

The Ethereum community has been asked to assist the long-awaited Merge between the Mainnet and the Beacon Chain. The Merge is a significant step forward in the transition to Eth2, as it will transform the Ethereum network into a PoS blockchain, reducing energy consumption by 99 percent. Non-technical users, developers with limited experience in blockchain, and experienced developers are all served by the program.

The bank in Estonia (LHV) started supporting crypto trading and investing on their app. LHV’s support for cryptocurrency trading is to attract more customers and diversify its offerings. LHV partnered with Bitstamp to become the Baltics’ first bank to offer crypto trading services. In addition, they have enabled the trading option on their app directly. That means that users who have a bank account with LHV do not need to use an exchange if the app meets their needs.

2nd December 2021

The Badger DAO Protocol Succumbs to exploitation. A user Lost 896 BTC or $50 M. An exploit that may have attacked the yield vault protocol’s front end has been discovered. The maximum amount a user loses is over 900 BTC or approximately 50 Million dollars. 

Meta – formerly Facebook – has announced that they would expand the number of regulatory licenses they accept to increase crypto ad eligibility on their platform. The company now accepts 27 licenses publicly available on their coverage web page, up from three previously. With the policy adjustment, Meta claims that their policy is more “equitable” and “clear” and can help small businesses benefit from Facebook’s reach to grow.

Nirmala Sitharaman, the Finance Minister, announced that the government is working on a new cryptocurrency bill. It will consider the fast-changing dimensions of the virtual currency industry. It will soon be presented to the Cabinet and introduced into Parliament during the current session. “This bill, once the Cabinet clears, will come into the House,” Rajya Sabha, India’s upper house of Parliament, heard from the finance minister.

Shiba Inu (SHIB) is now on the balance sheet of a Canadian medical startup called Ask The Doctor. The company has added $1.5 million in Shiba Inu to its balance sheet, which Kraken made possible. Shiba Inu began trading on the San Francisco-based cryptocurrency market on Tuesday, according to U.Today.

Konzum, Croatia’s biggest supermarket chain, accepts cryptocurrencySupported cryptocurrencies include Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), EOS, Dai (DAI), XRP, Stellar (XLM), and stablecoins such as Tether (USDT) and USD Coin (USDC). In addition, Konzum collaborated with a local crypto payment processor, Electrocoin, to build PayCek.

Bank of America Sees Massive Opportunity in Metaverse for Entire Crypto Ecosystem. Bank of America’s strategist says, “I definitely believe this is a massive, massive opportunity.” On the other hand, the director of research believes that existing cryptocurrencies are likely to be too volatile for this purpose and that some types of stablecoins will dominate.

Bank Of America Sees Massive Opportunity In Metaverse For Entire Crypto Ecosystem
Bank of America Sees Massive Opportunity in Metaverse for Entire Crypto Ecosystem

ETH-Skip offers free ETH, which uses the classic “send ETH, get ETH” scam trick. “if you contribute 500+ ETH, you will receive 1000+ ETH back.” ETH-SKIP is another webpage where the scammers behind this giveaway fraud utilize Vitalik Buterin’s name (co-founder of Ethereum) to lend respectability to the scheme. Their primary purpose is to convince people that by contributing 0.5+ ETH, they will receive 1+ ETH back and that this dynamic will continue to the point where if you contribute 500+ ETH, you will receive 1000+ ETH back.

During a live webcast with The Washington Post, Gensler made the remarks. He spoke about some of the most important developments in the cryptocurrency business. On the one hand, he expressed gratitude to Satoshi Nakamoto, the Bitcoin founder and author of the whitepaper. On the other hand, he even targeted thousands of additional tokens and the exchange platforms that trade them.

Wirex to Give Away $1 Million Worth of Crypto for Christmas Campaign. Throughout December, they will be awarding up to $1 million in WXT through various fun and exciting promotions. The giveaway will culminate in double rewards for users purchasing WXT on 24 December. Wirex has plans to expand the number of stablecoins offered on their platform in the coming weeks to increase offerings to their customers.

Wirex To Give Away $1 Million Worth Of Crypto For Christmas Campaign
Wirex to Give Away $1 Million Worth of Crypto for Christmas Campaign

3rd December 2021

Musicians Diplo, DJ Khaled, Martin Garrix, and Future used MoonPay’s “Concierge” to purchase NFTs from the Bored Ape Yacht Club. Last week, the four musicians updated their Twitter and Instagram handles to show off their new investments. All of the Bored Ape Yacht Club products can be returned to MoonPay through their OpenSea account. 

Adidas has purchased a Bored Ape Yacht Club NFT and is working with the Bored Ape Yacht Club creators to enter the metaverse. The trailer features 3D avatars based on Gmoney, a Punks Comic original character, and Adidas’ new Bored Ape figure dropping into a world with a luminous Adidas logo.

Nft Partnerships Help Adidas Reach The Metaverse
NFT Partnerships Help Adidas Reach the Metaverse

The SEC has rejected a second Bitcoin spot ETF application. SEC said that the exchange lacked enough safeguards “to prevent fraudulent and manipulative acts and practices” in any future listing. In addition, the regulator denied the Cboe BZX Exchange’s proposed change to list and trade shares of WisdomTree’s Bitcoin Trust.

A cryptocurrency trader has been sentenced to up to ten years in prison for scamming investors. Jeremy Spence, 25, has pleaded guilty to defrauding investors with his crypto fund scam. Over 170 customers lost more than $5 million due to Spence’s various bogus funds, which he managed under false pretenses and promises of up to 148% returns.

4th December 2021

Bitcoin went down to 42k levels in what seems like a flash crash. Indian exchanges trade at a higher price compared to global markets. Therefore, creating an arbitrage opportunity among Indian traders. All other altcoins are bleeding as well as bitcoin was trading approximately 16% below its yesterday’s market price.

Bitcoin Hits The 42K Usd On Binance; Indian Exchanges Trade Around 53K Creating An Arbitrage Opportunity
Bitcoin Hits the 42K USD on Binance; Indian exchanges trade around 53K creating an Arbitrage Opportunity

El Salvador bought the dip stacking 150 bitcoins after the bitcoin price fell below $50k, losing more than 15% of its value. Before that, on 28 October, the President announced the purchase of 420 Bitcoin during a brief bear market. 

The fintech giant Square is changing its name to Block. It will be effective from 10 December. The name change, which has been in the works for over a year, is intended to unify the company’s various products, including music streaming service Tidal, Cash App, TBD, and, of course, Square. Dorsey said, Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy.” The name Block alludes to the company’s growing interest in blockchain technology and cryptocurrency. The existing Square Crypto product will also be renamed Spiral. 

Editorial Team
Editorial Team

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