Daily news update: December 8th, 2021

Bitcoin, daily, week 12

Crypto market update

Bitcoin attempted another shot up in the past 24 hours but was stopped at $52,000 and retraced to just below $50,000. Most altcoins are now also dropping down and thus the whole market is back in red numbers. Crypto Fear and Greed index is now at 28, meaning just above extreme fear.

Bitcoin (BTC) is now trading at 49,326 USD (all data from Coingecko.com)

Ethereum (ETH) is now for 4,307 USD

PlatonCoin (PLTC) is now for 0,373 USD

Total marketcap is currently at 2.446 trillion USD

Daily news update

CEO Goldman Sachs and blockchain: David Solomon, CEO of Goldman Sachs, one of the leading banking institutions in the world, has stated his opinion on the Bitcoin vs blockchain dilemma. To Solomon, Bitcoin is not as important as the advancements in technology that implementing blockchain and other new ledger-based tools can bring to the traditional finance world. The executive further stated he doesn’t own any BTC or ETH personally.

Ubisoft and NFTs: Gaming giant Ubisoft is launching Ubisoft Quartz, a new platform for players to obtain what it calls “Digits” — essentially non-fungible tokens (NFTs) playable in a mainstream game — according to a company statement. The first such NFT will appear in beta with Tom Clancy’s “Ghost Recon Breakpoint” on Ubisoft Connect for Windows PC.

BIS and DeFi: The Bank For International Settlements (BIS) has released its latest quarterly review, calling for the regulation of the non-bank financial sector. The Bank highlighted DeFi as posing a great risk to investors if the ecosystem continues to operate without proper regulation. The report suggested that DeFi is prone to several vulnerabilities including “first-order money laundering schemes and other dangers that far exceed those of traditional finance.

Visa and crypto consulting: Payments giant Visa is launching new consulting and advisory services in a move to help its clients navigate the world of cryptocurrencies. The firm said on Wednesday that its crypto advisory practice, housed within its consulting and analytics division, will offer advice to financial institutions, retailers and other firms on everything from rolling out crypto features and exploring nonfungible tokens to developing wallets for central bank digital currencies.

Meta and South Korea: Meta’s South Korea representative says the country has one of the best environments for the metaverse business to thrive in, at its first press conference in Korea after rebranding from Facebook. Jung Ki-hyun, the country director, said South Korea is accommodating to the metaverse business on account of its receptivity, penetration rate of VR devices such as Oculus Quest, original equipment manufacturer (OEM) environment and potential as a domain for content developers and creators.

U.S. and crypto representative hearing: Today top executives from six crypto firms—Coinbase, Circle, FTX, Paxos, Bitfury and Stellar—will testify before the House of Representatives Committee on Financial Services. The event reflects crypto’s growing importance in Washington, D.C., and could influence future regulation of the fast-growing industry.

Puerto Rico and corruption: Rafael “Tatito” Hernández – Speaker of the Puerto Rico House of Representatives – said the growing blockchain industry could bring more accountability and transparency to the public sector. He also raised hopes that his nation could become one of the cryptocurrency centers on the planet. Puerto Rico – a Caribbean island and an unincorporated territory of the USA – is one of the most corrupt nations around the globe.

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