cryptohubsstuff

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Dubai awards conditional crypto license to climate-friendly Web3 firm

Dubai’s Virtual Assets Regulatory Authority (VARA) granted a conditional license to Enjinstarter’s AYA platform for offering crypto asset and investment services.  On Dec. 11, the Dubai arm of Web3 launchpad and advisory firm Enjinstarter received a crypto license that is subject to the fulfillment of certain conditions before the commencement of services. After fulfilling all the requirements…

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Buy the dip, sell the rip? BTC price levels to watch as Bitcoin taps $42K

Bitcoin (BTC) faces an uphill struggle to reignite its uptrend after its biggest one-day losses of 2023. The largest cryptocurrency continues to claw back lost ground after falling to lows of $40,200 after the Dec. 10 weekly close, the latest data from Cointelegraph Markets Pro and TradingView shows. BTC/USD 1-hour chart. Source: TradingView With BTC price action taking a break from relentless…

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Bitcoin dev denies adding inscriptions to National Vulnerability Database

Bitcoin core developer Luke Dashjr has denied playing any part in adding Bitcoin inscriptions as a cybersecurity risk on the United States National Vulnerability Database’s (NVD) Common Vulnerabilities and Exposure (CVE) list.  Dashjr courted controversy in a Dec. 6 post to X (formerly Twitter) claiming that Inscriptions — used by the Ordinals Protocol Ordinals and BRC-20 creators to embed data…

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IRS tax bill will swipe creditors of any ‘meaningful recovery,' says FTX

A proposed $24 billion tax bill from the United State IRS will likely suck up any “meaningful recovery” that was meant for victims of FTX, according to the bankrupt crypto exchange.  The United States tax authority has been trying to chase tax arrears from the crypto exchange and its sister firm Alameda Research since May this year. The IRS initially claimed $44 billion across 45 separate claims…

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Avalanche was ‘undervalued’ before posting 79% weekly gain: Analysts

Avalanche (AVAX) appears to be one of the few major cryptocurrencies to buck the recent crypto decline, posting a phenomenal 79% weekly gain as others have declined. Some analysts believe this is due to recent partnership announcements and a rise in trading volumes and total value locked, while others claim there’s been a shift in how altcoins are valued. While Bitcoin (BTC) and Ether (ETH) saw a…

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Only 11 of 330 Elizabeth Warren’s bills have ever passed

Senator Elizabeth Warren’s crypto Anti-Money Laundering bill has been causing a massive stir in the crypto industry. But some have pointed out that the senator’s bills have a track record of not going anywhere. According to data from the bill-tracking platform GovTrack, Warren has introduced 330 bills during her 11 years as a senator. Ten of them were eventually folded into other bills and only…

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El Salvador's Volcano Bond gets regulatory approval, targets Q1 launch

El Salvador’s long-anticipated Bitcoin bonds, also known as “Volcano Bonds” have received the regulatory nod, and are expected to launch early 2024. The Volcano Bond was approved by El Salvador’s Digital Assets Commission and is anticipated to launch during the first quarter of 2024, according to a Dec. 11 statement from The National Bitcoin Office (ONBTC) of El Salvador. BREAKING NEWS The…

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South Korea excludes NFTs, CBDCs from crypto interest mandate

South Korean regulator, the Financial Services Commission (FSC), published a notice highlighting that by July 2024, investors in digital assets must receive interest when depositing their funds into an exchange. However, the guidance clarified that nonfungible tokens (NFTs) and central bank digital currencies (CBDCs) are excluded from the law.  On Dec. 10, local media outlets reported the FSC…

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Google updates policy to allow ads for US crypto trusts

Tech giant Google has updated its cryptocurrency-related advertising policy to allow ads about crypto trusts from the end of January, the same month that spot Bitcoin (BTC) exchange-traded-funds are predicted to be approved in the United States. In a Dec. 6 policy change log, Google said its crypto and related products ad policy will be updated on Jan. 29, 2024, to allow ads from “advertisers…

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Crypto exchange HTX see outflows top $258M following exploit

Crypto investors have been moving their assets away from crypto exchange HTX (formerly known as Huobi) following a Nov. 22 exploit that saw the exchange pause its services and lose a total of $30 million.  Between Nov. 25 — the day that HTX resumed its services — and Dec. 10, the exchange witnessed some $258 million in net outflows, according to data from DefiLlama. HTX witnessed $258 million in…

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DeFi protocol Venus seeks to patch $270K hole from oracle incident

Decentralized finance protocol Venus has confirmed it was impacted by an issue with one of its price feed oracles resulting in borrows totaling around $270,000 on Dec. 11, but has downplayed the incident from being an “exploit” as described by analysts, and also vowed to replace funds from the treasury.  On Dec. 10, reports started emerging that the Binance Chain-based decentralized lending and…

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Google’s Gemini demo is now getting accused of being ‘fake’

A “hands-on” tech demo of Google’s new artificial intelligence model Gemini has gone from being the talk of the town to being accused by critics of being “basically entirely fake.” The six-minute video, which garnered 2.1 million views on YouTube since its release on Dec. 7, shows it seamlessly interacting with a human operator in seemingly real-time, including analyzing a duck drawing, hand…

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Bitcoin wipes nearly a week of gains in 20 minutes, falling under $41K

The price of Bitcoin (BTC) briefly fell below $41,000 following a sudden 6.5% drawdown from $43,357 to as low as $40,659 in just 20 minutes at 2:15am on Dec. 11 (UTC).  At the time of publication, Bitcoin was trading slightly up from the local low at $41,960 per TradingView data.  According to data from CoinGlass the brief drop caused more than $271 million worth of long positions to be…

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Solana memecoin Bonk flips Pepe following 370% monthly gain

A Solana-based dog-themed memecoin called Bonk (BONK) has now become the third-largest memecoin by market capitalization, surging past that of fellow memecoin Pepe (PEPE) on Dec. 8. Bonk’s recent price growth — 370% in the last month — has seen its market cap grow to $762 million, compared to Pepe’s current $675 million market cap, per CoinGecko data. In the past 30 days, BONK has grown from…

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Celeb NFTs and cringy ads — Analysts share their signs of a Bitcoin peak

Celebrities hocking nonfungible tokens (NFTs), big-budget crypto ads, and mainstream brands adopting crypto slang — these are the signs to watch for during the next bull market that could indicate a peak, according to crypto analysts. The crypto industry is expected to see a major rally in 2024. In the past 90 days alone, Bitcoin (BTC) has surged to clock in a 74% price increase. Some analysts…

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Blockchain is fueling this emerging tech hub in Portugal: Madeira Blockchain 2023

The Madeira archipelago in Portugal is witnessing the birth of a startup hub focused on emerging technologies, such as blockchain and artificial intelligence. Rogerio Gouveia, finance secretary of Madeira’s regional government, says the technology sector represents approximately 30% of the island’s businesses – a considerable increase for a traditionally tourism-driven economy. The local tech…

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Bitcoin bulls’ run toward $45K could produce tailwinds for UNI, OP, TIA and STX

The S&P 500 Index (SPX) achieved its highest close of the year last week, and Bitcoin (BTC) also hit a new 52-week high, indicating that risky assets remain strong going into the final few days of the year.  Some analysts believe Bitcoin is done with its rally in the short term and may roll over. Popular analyst and social media commentator Matthew Hyland cautioned in a post on X (formerly…