Daily news update: December 21st, 2021

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Crypto market update

BTC was reported to be related with the recent development of Turkish lira, bouncing overnight as the lira shot up as much as 40% against the U.S. dollar. The move came as Turkey’s president, Recep Tayyip Erdogan, announced sweeping measures to protect consumers and attract lira investors. The switch-up fuelled Bitcoin and altcoins alike, with 5% gains mirrored across the major cryptocurrency charts Tuesday.

Bitcoin (BTC) is now trading at 48,675 USD (all data from Coingecko.com)

Ethereum (ETH) is now for 4,028 USD

PlatonCoin (PLTC) is now for 0,790 USD

Total marketcap is currently at 2.387 trillion USD

Daily news update

Musk and metaverse: CEO of Tesla and known crypto influencer Elon Musk has issued his take on the current state of Web3 and the metaverse movement. Musk is skeptical about the validity of the Web3 movement right now, saying he believes it “seems more marketing buzzword than reality right now.”

Jack Dorsey and Bitcoin: In a recent Twitter exchange with superstar rapper Cardi B, former Twitter CEO Jack Dorsey told the “WAP” singer that Bitcoin is going to replace the U.S. dollar, showing his unwavering support for the largest cryptocurrency once again.

Old Bitcoin wallet activated: A Bitcoin wallet containing millions of dollars worth of Bitcoin (BTC) has come out of dormancy. For one reason or another, the wallet has not transacted for years despite having what is considered life-changing money. The wallet currently contains $15 million worth of BTC, and it’s unclear who owns this account or why it was reactivated on Tuesday. By now, the funds in the wallet had appreciated almost 2,300 times.

JP Morgan and Siemens: The giant of American banks J.P. Morgan has teamed up with Siemens, the German engineering technology company, to develop a Blockchain-based new remittance system for the latter. The conglomerate needs an infrastructure that is able to process an increasing amount of transactions, and the blockchain turned out to be the best solution.

Dubai and crypto currencies: Dubai authorities recently announced that Dubai World Trade Centre (DWTC) will soon become a comprehensive zone and regulator for crypto–including cryptocurrencies, crypto-related products, operators, and exchanges. The new initiative will see the government-owned event and exhibition venue in Dubai transform into a crypto hub–set to further local development and adoption.

Russia and crypto regulation: The Bank of Russia aims to introduce legislation to regulate the circulation of cryptocurrencies in the country rather than ban it, TASS news agency reported. Speaking to reporters in the State Duma on Monday, December 20, the Deputy Chairman of the Central Bank, Vladimir Chistyukhin, hinted that privately operated cryptocurrencies might soon be phased out of the country’s financial systems.

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