WEEKLY MARKET RECAP

We bring you trending weekly cryptocurrency news and updates that usually trigger the next direction of the charts.

• - Brisbane crypto exchange Swyftx fires 90 staff as FTX collapse carnage spreads.
• - Dubai-based exchange @Bybit_official is laying off 30% of staff amid a “deepening bear market.” @egreechee reports.
• - Ukraine 🇺🇦 collabs with international consultants to update #crypto framework.
• - Alibaba Signals Major Crypto Push By Joining AVAX Blockchain Network.
• - Apple Blocks Coinbase Wallet on iOS 🚫
• - Crypto lender @nexo to quit US operations.
• - Document claims Alameda CEO Caroline Ellison’s #FTX margin position was negative $1.3B in May 2022.
• - Over $645 billion was wiped out from the US stock market today.
• - 🇬🇧 United Kingdom finalizes plans to regulate #crypto.
• - Circle $USDC cancels plans to go public at a $4.5 billion valuation.
• - 🇹🇷 +25% of Internet users in Turkey own #Bitcoin or crypto — the highest in the world.
• - BANK of AMERICA: Regulation required for mainstream adoption of cryptocurrencies.
• - 🇧🇷 42,000 companies bought #Bitcoin or crypto in October (Brazil Tax Authority).
• - Pakistan 🇵🇰 announces new regulations to ensure the launch of an in-house #CBDC by 2025.
• - 🇷🇺 Russia’s head of Congress finance committee: #Bitcoin and crypto products will “definitely” be legal next year.
• - Chainlink launches staking of its native token $LINK.
• - Ledger partners with Apple iPod creator Tony Fadell to develop its latest #crypto hardware wallet.
• - #Binance’s CEO calls Sam Bankman-Fried “a master manipulator” and “one of the greatest fraudsters in history.”
• - HONG KONG: Samsung Asset Management submitted a #Bitcoin futures ETF application.
• - The Chinese court indicated that NFT digital collections have the characteristics of value, rarity, and are virtual online properties that should be protected by Chinese law.
• - A federal judge has dismissed a lawsuit against reality TV star Kim Kardashian and several other celebrities over a #cryptocurrency promotion.
• - EU proposes new law requiring #Bitcoin and crypto services to report customer transactions — Bloomberg.
• - 💰Number of Cardano-based smart contracts surpasses 4,000
• - Telegram📱 Users 🫂 to be able to open accounts with blockchain-based. numbers instead of phone numbers.
• - coinbase has asked users to switch their USDT for USDC, citing quality of reserves.
• @thesamreynolds reports
• - PayPal will expand its #crypto service to Luxembourg “in coming days, in what may be its first foray into the European Union.
• - 🇲🇽 Mexican senator Indira Kempis: “México will be #Bitcoin land.
• - Binance’s bitcoin reserves are collateralized 101% according to Mazars audit.
• Mazars concluded that Binance’s bitcoin reserves are fully collateralized, following a proof-of-reserves and proof-of-liabilities verification.
• The collateralization ratio is 101%.
• - Alameda-backed Ren warns users of losses as it plans to wind down protocol
• - Government Of Argentina 🇦🇷 Establishes A National Blockchain Committee For Policy Making
• - According to the statement, Strike will continue to expand its payment service to Africa via integrations and partnerships with cross-border payment providers.
• - In November, Bitcoin recorded the largest outflows from exchanges in its history, with net outflows of 91,557 BTC.
• Since FTX, centralised exchanges have witnessed a string of outflows as market participants look to safeguard their funds.
• - Kevin O’Leary, aka Mr. Wonderful, has revealed that the collapsed crypto 🪙 exchange FTX 🏦 paid him about $15 million to become its spokesperson.
• - UK extends crypto tax break for investment managers in financial reforms.
• - The Bank of Spain 🇪🇸 clarified this program has no relation to ongoing efforts by the European Union on the research of the digital euro.
• - SBF wants to restart FTX and issue new FTT tokens to creditors.
• - #Bitcoin adoption will make El Salvador one of the richest countries in the world — Billionaire Tim Draper.

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