Market Moves and Tech Grooves: The Latest in Crypto
Unpack a week where cutting-edge tech innovations and volatile crypto markets collide spectacularly!
Bitcoin’s Rise Triggers Surge in Millionaire Holders
In a notable resurgence, Bitcoin’s value hike has led to a surge in millionaire holders. Data as of November 14 shows a dramatic rise to 88,628 Bitcoin millionaires, a threefold increase from January’s 28,084. This equates to an impressive 215% growth in 2023, reflecting Bitcoin’s potent impact on individual wealth this year.
BlackRock Files for Ethereum ETF
BlackRock, the world’s largest asset manager, has taken a significant step in the crypto world by filing for a spot Ethereum ETF with the U.S. Securities and Exchange Commission.
This move aims to mirror the performance of Ether’s price. Notably, the crypto giant Coinbase will act as the custodian for BlackRock’s crypto holdings
CZ Binance Declares Bitcoin the Greatest Business Model Ever Invented
CZ Binance, CEO of the world’s number one Crypto Exchange, hailed Bitcoin as the ultimate business model in a viral tweet following news of record-breaking $44 million mining revenue in a day.
Solana’s Token Surges Following Cathie Wood’s Praise
Solana’s token soared over 18% following Ark Invest CEO Cathie Wood’s commendation on its network strength. Wood, in a recent interview, lauded Solana for its efficiency, stating it outperforms Ethereum in terms of speed and cost-effectiveness.
This acknowledgment has propelled Solana’s prominence in the crypto market, outshining other major cryptocurrencies with its significant surge.
Vivek Ramaswamy Unveils Crypto Policy Platform Criticizing Mixer Sanctions
Vivek Ramaswamy, a Republican Presidential candidate, introduced a Crypto Policy, “The Three Freedoms of Crypto,” at the North American Blockchain Summit, emphasizing that Smart Contract developers should not be held liable for user actions.
In the document, Ramaswamy vowed to “direct government prosecutors to prosecute bad actors, not the code they use and not the developers who write that code,” if elected President.
Snoop Dogg’s Quitting Weed Sparks Crypto Betting
Snoop Dogg’s recent vow to quit smoking weed has sparked a unique betting event in the DeFi market.
Polymarket users are now wagering on whether the iconic rapper will stick to his pledge throughout 2023, challenging Oracle networks to monitor this unprecedented bet.
Xiaomi Unveils Its First Electric Vehicle
Xiaomi enters the EV market with its debut car, produced in collaboration with BAIC. Revealed in a Chinese regulatory filing, the EV will feature SU7, SU7 Pro, and SU7 Max variants.
It offers both RWD (220kW) and AWD (220kW + 275kW) powertrains, weighing 2.66 tons and reaching a top speed of 165 mph. The 5-seater SU7 is set for delivery starting February, marking Xiaomi’s ambitious foray into the automotive sector.
House Panel Debates Crypto’s Role in Terrorism Financing
During a recent House Financial Services Committee panel, lawmakers and experts grappled with the extent of cryptocurrency’s use in illicit finance, striving to establish regulatory clarity.
Rep. French Hill emphasized the need to debunk myths about crypto’s role in terrorism, arguing that like phones and the internet, crypto should not be solely blamed for such activities.
Crypto.com Granted Dubai Crypto License
Crypto.com’s Dubai entity has been granted a Virtual Assets Service Provider (VASP) license by the city’s regulator, pending operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA).
This development will allow Crypto.com’s local business, CRO DAX Middle East FZE, to offer a range of services to both retail and institutional investors in Dubai, including exchange, broker-dealer, lending, and borrowing services.
