{"id":429,"date":"2022-12-31T11:00:00","date_gmt":"2022-12-31T11:00:00","guid":{"rendered":"https:\/\/wagecan.com\/blog\/?p=429"},"modified":"2023-06-06T04:49:16","modified_gmt":"2023-06-06T04:49:16","slug":"weekly-headlines-2022-12-w5","status":"publish","type":"post","link":"https:\/\/wagecan.com\/blog\/2022\/12\/31\/weekly-headlines-2022-12-w5\/","title":{"rendered":"Weekly Headlines 2022.12 W5"},"content":{"rendered":"\n

\u201cGet a single digit percentage point of your investable assets in bitcoin and do not look at it for 5-10 years. Thank me later.\u201d <\/em><\/strong>  \u2013 Antoni Trenchev, the CEO of crypto lender Nexo<\/em><\/p>\n\n\n\n

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Weekly News Report:<\/strong><\/p>\n\n\n\n

News<\/strong><\/p>\n\n\n\n

1. Italian Parliament Approves 26% Crypto-Gains Tax in 2023 Budget<\/p>\n\n\n\n

\u2013 Prime Minister Giorgia Meloni\u2019s new bill also includes an incentive for those declaring crypto for tax purposes.<\/p>\n\n\n\n

2. Fiji elects pro-Bitcoin prime minister Sitiveni Rabuka<\/p>\n\n\n\n

\u2013 Fiji elects a pro-Bitcoin prime minister, signaling a positive future for Bitcoin adoption in the pacific island nation.<\/p>\n\n\n\n

3. Anonymous Twitter User Leaks 3Commas API Database<\/p>\n\n\n\n

\u2013 The leak comes after 3Commas repeatedly told users that they had been \u201cphished\u201d after widespread hacks.<\/p>\n\n\n\n

4. Binance\u2019s Cloud Mining affected by extreme weather conditions in North America<\/p>\n\n\n\n

\u2013 Users\u2019 subscriptions to cloud mining products have been extended for three days due to the power outage.<\/p>\n\n\n\n

5. FTX customers file class-action lawsuit to get priority reparations<\/p>\n\n\n\n

\u2013 Customer class members don\u2019t want to stand in line alongside the creditors of a failed crypto platform.<\/p>\n\n\n\n

6. FTX Users Sue for Priority Repayment and Damages in Bankruptcy Proceedings<\/p>\n\n\n\n

\u2013 The class-action lawsuit accuses the bankrupt crypto exchange\u2019s executives of intentionally misappropriating customer funds to fund risky strategies and their lavish lifestyles.<\/p>\n\n\n\n

7. Wife of Hal Finney announces Bitcoin charity event<\/p>\n\n\n\n

\u2013 She said that the event seeks to raise funds to provide assistance for victims of ALS.<\/p>\n\n\n\n

8. FTX\u2019s Sam Bankman-Fried Borrowed From Alameda to Buy Robinhood Shares<\/p>\n\n\n\n

\u2013 Alameda took out a loan pledging those same shares as collateral.<\/p>\n\n\n\n

9. Argo Blockchain Suspends Trading in US Shares for 24 Hours<\/p>\n\n\n\n

\u2013 The company said earlier this month it was close to restructuring without having to declare bankruptcy.<\/p>\n\n\n\n

10. Japan to lift the ban on foreign stablecoins like USDT in 2023: Report<\/p>\n\n\n\n

\u2013 None of the 31 crypto exchanges registered with Japan\u2019s Financial Services Agency are currently offering trading in stablecoins like USDT or USDC.<\/p>\n\n\n\n

11. Bitcoin Miners Powered Off as Winter Storm Battered North America<\/p>\n\n\n\n

\u2013 Computing power on the Bitcoin network dropped about 40% over the weekend.<\/p>\n\n\n\n

Institution<\/strong><\/p>\n\n\n\n

1. Over 1,400 Chinese firms operating in blockchain industry, national whitepaper shows<\/p>\n\n\n\n

\u2013 Despite partial crypto bans, the Chinese Government has included blockchain technology in official state development policy.<\/p>\n\n\n\n

2. Turkish Central Bank Runs First CBDC Tests<\/p>\n\n\n\n

\u2013 The monetary authority said it will conduct further trials in the first quarter of 2023.<\/p>\n\n\n\n

3. Fidelity plans NFT marketplace and financial services in the metaverse<\/p>\n\n\n\n

\u2013 Newly filed trademark applications outline a long list of possible avenues for the firm in the metaverse.<\/strong><\/p>\n\n\n\n

4. Russia\u2019s largest bank issued gold-backed digital financial assets<\/p>\n\n\n\n

\u2013 The issuance became the second major operation of the bank with the new class of assets.<\/p>\n\n\n\n

Market<\/strong><\/strong><\/p>\n\n\n\n

1. \u2018Everything bubble\u2019 bursts: Worst year for US stocks and bonds since 1932<\/p>\n\n\n\n

\u2013 While the crypto markets have taken a bashing in 2022, it hasn\u2019t exactly been rosy for US stocks, bonds and real estate either.<\/p>\n\n\n\n

2. Bitcoin price would surge past $600K if \u2018hardest asset\u2019 matches gold<\/p>\n\n\n\n

\u2013 The coming decade could be Bitcoin\u2019s time to copy gold\u2019s 1970s breakouts, says Capriole Investments.<\/p>\n\n\n\n

3. Bitcoin, Ether Did Better Than You Think in 2022<\/p>\n\n\n\n

\u2013 CoinDesk research shows that per unit of risk, bitcoin and ether performed significantly better than bonds and had similar results to equities in 2022.<\/p>\n\n\n\n

4. No, Advisors, Crypto Is Not a Ponzi Scheme<\/p>\n\n\n\n

\u2013 While the FTX debacle has many Ponzi-like characteristics, most cryptocurrencies don\u2019t resemble the infamous schemes.<\/p>\n\n\n\n

5. Digital Dollar Will Come Eventually, Lobbyist Says<\/p>\n\n\n\n

\u2013 Michael Greco, policy research director at the Digital Dollar Project, says the Fed needs Congress to pass the right law first.<\/p>\n\n\n\n

6. MicroStrategy Added 2,500 Bitcoins for $45M in Last 2 Months<\/p>\n\n\n\n

\u2013 The software company also sold a small amount of cryptocurrency for the first time.<\/p>\n\n\n\n

7. El Salvador Boosts Bitcoin Education, Expanding Reach to 250,000 Students by 2023<\/p>\n\n\n\n

\u2013 Even in the difficult occasions of the \u201ccrypto winter\u201d, El Salvador is targeted on popularizing Bitcoin adoption as a result of training.<\/p>\n\n\n\n

8. Bitcoin ASIC miner prices hovering at lows not seen in years<\/p>\n\n\n\n

\u2013 ASIC miners\u2019 price per terahash has fallen more than 80% from its peak in 2021 as Bitcoin mining machines continue to flood the marketplace.<\/p>\n\n\n\n

9. Bitcoin accumulation addresses near record 800K despite whale selling<\/p>\n\n\n\n

\u2013 Someone has been accumulating BTC throughout the 2022 Bitcoin bear market, and the trend shows no sign of reversing.<\/p>\n\n\n\n

NFT<\/strong><\/p>\n\n\n\n

1. NFT Market Will Bounce Back With Lower Interest Rates, Digital Artist Says<\/p>\n\n\n\n

\u2013 Ovie Faruq, also known as OSF, says the sector is tied to cryptocurrencies, which in turn are correlated with Nasdaq.<\/p>\n\n\n\n

2. China to Launch First National \u2018Digital Asset\u2019 Marketplace<\/p>\n\n\n\n

\u2013 While trading digital collectibles has been popular amongst Chinese collectors through heavily regulated marketplaces, this is the country\u2019s first official foray into NFTs.<\/p>\n\n\n\n

3. NFTs Are Securities and It\u2019s Great<\/p>\n\n\n\n

\u2013 Artist and lawyer Brian Frye writes about why non-fungible tokens represent investment contracts in social clout.<\/p>\n\n\n\n

4. Pudgy Penguins NFTs Break All-Time Highs With Holiday Rally<\/p>\n\n\n\n

\u2013 A fast-rising floor price caps the once written-off collection\u2019s banner year.<\/p>\n\n\n\n

5. Solana\u2019s Top NFT Projects DeGods and Y00ts to Migrate Chains<\/p>\n\n\n\n

\u2013 DeGods will go to Ethereum, while its sister project, Y00ts, will move to Polygon with a grant from layer 2\u2019s partnership fund.<\/p>\n\n\n\n

6. Italy to create the crypto art Renaissance: NFT market report<\/p>\n\n\n\n

\u2013 Research and Market\u2019s latest NFT market report for Italy predicts a 47.6% growth in the country\u2019s NFT market by the end of 2022.<\/p>\n\n\n\n

Web3<\/strong><\/p>\n\n\n\n

1. Web3 Is Being Used to Preserve History Threatened by Wars<\/p>\n\n\n\n

\u2013 Theresa Kennedy, founder of Black History DAO, says with blockchain technology, data can be stored in many different places, making it harder for it to be destroyed.<\/p>\n\n\n\n

2. The Next Wave of Institutional Digital Asset Adoption<\/p>\n\n\n\n

\u2013 Once you build decentralized access control, Web3 and the traditional world of finance can finally be brought together.<\/p>\n\n\n\n

December 30, 2022<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cGet a single digit percentage point of your investable assets in bitcoin and do not look at it for 5-10 years. Thank me later.\u201d   \u2013 Antoni Trenchev, the CEO of crypto lender Nexo Weekly News Report: News 1. Italian Parliament Approves 26% Crypto-Gains Tax in 2023 Budget \u2013 Prime Minister Giorgia Meloni\u2019s new bill also includes an […]<\/p>\n","protected":false},"author":3,"featured_media":288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71],"tags":[135,8,53,132,134,133,118,136],"_links":{"self":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/429"}],"collection":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/comments?post=429"}],"version-history":[{"count":4,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/429\/revisions"}],"predecessor-version":[{"id":437,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/429\/revisions\/437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/media\/288"}],"wp:attachment":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/media?parent=429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/categories?post=429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/tags?post=429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}