This week's featured stories
<h2 class="wp-block-heading" id="h-bitcoin-etf-race-gets-13th-entrant-blackrock-revises-etf-model”>bitcoin ETF Race Gets 13th Entrant, BlackRock Reviews ETF Model
Asset manager Pando Asset has become an unexpected late entrant in the spot bitcoin ETF race in the United States. On Nov. 29, Pando filed a Form S-1, used to register securities with the agency, to the U.S. Securities and Exchange Commission for the Pando Asset Spot bitcoin Trust. Like other ETF offerings, the trust aims to track the price of bitcoin with the custody arm of crypto exchange Coinbase to hold bitcoin on behalf of the trust. Pando is the 13th applicant for a spot bitcoin ETF approved in the US, joining the race with a dozen others, including BlackRock, ARK Invest, and Grayscale.
Binance to end support for BUSD stablecoin in December
Cryptocurrency exchange Binance is shutting down services for its native stablecoin, Binance USD (BUSD). According to an announcement, the exchange will stop supporting all BUSD products after Paxos stopped minting new coins. Binance said users must withdraw or convert their existing BUSD into other assets by December 15, before beginning the process of disabling BUSD withdrawals on December 31. At that time, existing balances will automatically be converted to First Digital USD for certain users.
<h2 class="wp-block-heading" id="h-cme-bitcoin-futures-show-investors-betting-on-40k-btc-price”>CME bitcoin Futures Show Investors Betting on $40,000 btc Price
Demand for bitcoin (btc) from institutional investors became evident on November 10 when Chicago Mercantile Exchange (CME) bitcoin futures overtook Binance's btc futures markets in terms of size. According to btc derivatives metrics, those investors are showing great confidence in bitcoin's potential to surpass the $40,000 mark in the near term. The current CME bitcoin futures open interest stands at $4.35 billion, the highest since November 2021, when bitcoin hit its all-time high of $69,000, a clear indication of increased interest. The impressive 125% increase in CME btc futures open interest from $1.93 billion in mid-October is no doubt tied to the anticipation of the approval of a spot bitcoin exchange-traded fund.
ChatGPT's first year was marked by existential fear, lawsuits and boardroom drama
With ChatGPT, OpenAI has developed the world's most popular artificial intelligence tool. It launched a year ago on November 30, 2022, and catapulted to 100 million monthly users in its first three months. In just 12 months, ChatGPT's existence has contributed to narratives about humanity's extinction, accusations that OpenAI allegedly built it by committing massive copyright infringements, and a tumultuous CEO firing and rehiring that experts are still trying to piece together. understand.
FTX and Alameda Research withdraw $10.8 million from Binance, Coinbase and Wintermut
Wallets linked to defunct cryptocurrency trading firms FTX and Alameda Research moved $10.8 million into accounts at Binance, Coinbase and Wintermute using eight cryptocurrencies. Blockchain analysis firm Spot On Chain detected the movement and estimated that the defunct entities have transferred $551 million since October 24 using 59 different cryptocurrency tokens. The movement of the funds dates back to March, when FTX and Alameda began the process of recovering assets for investors.
Winners and losers
At the end of the week, bitcoin (btc) I sat down $38,673Ether (eth) in $2,084 and XRP in $0.61. The total market capitalization is $1.45 billion, according to CoinMarketCap.
Among the 100 largest cryptocurrencies, the three altcoins with the biggest gains of the week are TerraClassicUSD (USTC) at 294.40%, Terra Classic (FAR) at 85.78% and IOTA (IOTA) at 31.53%.
Top Three Altcoin Losers of the Week Are Blur (BLUR) at 21.87%, dYdX (ethDYDX) at 13.90% and Gas (GAS) at 10.06%.
For more information on cryptocurrency prices, be sure to read Cointelegraph's market analysis.
Read also
Characteristics
As Money Printer Goes Wild, Wall St Loses Fear of bitcoin
Characteristics
Rogue states avoid economic sanctions, but are cryptocurrencies wrong?
Most memorable quotes
“I think (Binance's settlement with the SEC is) a net benefit for your company. “I think it’s a net benefit for our industry.”
Mike NovogratzCEO of Galaxy Digital
“Obviously, the treatment given to CZ and Binance is absurd and only highlights the arbitrary nature of the punishment by the State.”
Arturo Hayesentrepreneur and former CEO of BitMEX
“Let's not forget that 'innovation versus regulation' is a false dichotomy that has been touted for years by technology companies to evade meaningful accountability and binding regulation.”
Agnes Callamardsecretary general of Amnesty International
“ai is (…) a new type of mind that is rapidly gaining in intelligence, and has a good chance of surpassing the mental faculties of humans and becoming the new top species on the planet.”
Vitalik Buterinco-founder of ethereum
“Don't be a loser. Get out of the FAKE money system. Get into Gold, Silver, bitcoin now…. Before it is too late.”
Robert Kiyosakiauthor and businessman
“(Blast) crossed lines in both messaging and execution.”
Daniel Robinsonhead of research at Paradigm
Prediction of the week
bitcoin ETF Will Drive 165% btc Price Rise in 2024 – Standard Chartered
bitcoin is on track to trade in six figures by the end of 2024, concludes Standard Chartered's latest forecast. Thanks to the United States potentially approving bitcoin spot price ETFs, btc/USD has the ability to nearly triple its current $37,700 over the next 12 months.
“We now expect a larger pre-halving price rally to materialize than before, specifically through the earlier-than-expected introduction of U.S. spot ETFs,” wrote Geoff Kendrick, head of research. of emerging markets currencies, western research and crypto from Standard Chartered. “This suggests a risk of the $100,000 level being reached before the end of 2024.”
The figure continues the consumer banking giant's already optimistic view of how bitcoin will grow in the coming years. In July, an investigation considered the decreasing availability of btc supply as a reason to believe that much higher prices were coming.
FUD of the week
<h2 class="wp-block-heading" id="h-crypto-thieves-steal-363m-in-nov-the-most-damaging-month-this-year”>Cryptocurrency thieves steal $363 million in November, the most “damaging” month this year
The cryptocurrency industry has now seen its most “damaging” month for cryptocurrency theft, scams and exploitations in 2023, with crypto criminals making off with $363 million in November, according to blockchain security firm CertiK. Around $316.4 million came from exploits alone, flash loans caused $45.5 million in damage, and $1.1 million was lost due to various exit scams.
Bankless controversy forces founders to burn tokens and part ways with DAO
Amid the ongoing controversy surrounding cryptocurrency media company Bankless and the associated decentralized autonomous organization, BanklessDAO, the founders of Bankless suggested separating the DAO brand. Bankless co-founders David Hoffman and Ryan Sean Adams plan to submit a governance proposal to BanklessDAO to separate the two entities. Hoffman and Adams' decision to separate Bankless from BanklessDAO came in response to community criticism of BanklessDAO's application for an Arbitrum grant.
KyberSwap hacker demands full control over Kyber company
The hacker behind the $46 million KyberSwap exploit has finally released his conditions for the return of stolen funds, which include “complete executive control” over the Kyber Network company. On November 30, the KyberSwap hacker sent a chain message to all relevant and interested parties. The hacker laid out demands, including control over the company, full temporary authority and ownership of its governance mechanism, KyberDAO, all documents related to the company, and all assets of the company Kyber Network.
Read also
Top magazine articles of the week
Outrage because ChatGPT doesn't say insults, Q* 'breaks encryption', 99% fake website: ai Eye
A storm of ai nonsense is taking over the web from the torrent of human outrage currently living there.
Real ai Use Cases in crypto #3: Smart Contract Audits and Cybersecurity
Experts believe ai will become an invaluable tool for smart contract auditing and cybersecurity, but it's not there yet.
Pudgy Penguins CEO Says Praise He's Getting 'Actually Pretty Sad': nft Creator
“You can't really be an angry, miserable person and then click on buying a Pudgy Penguin.”
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