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Cointime News Wrapup-Afternoon Version: Sotheby’s and UnicornDAO Host International Women’s Day Art Auction
To smooth and facilitate the reading experience for all users, we hereby compose this wrapup, especially for users who cannot check out what’s going on in a timely manner.
On November 22nd, according to multiple executives in the digital asset industry, many cryptocurrency companies such as Ripple, Kraken, and Circle are vying for seats on the cryptocurrency advisory committee promised by President Trump, seeking to have a say in their plans for US policy reform. One source said that the cryptocurrency department of venture capital giant Andreessen Horowitz, a16z, is expected to receive a seat, but currently an a16z spokesperson declined to comment on the matter.
market shows BTC breaking through $98,500 and is now trading at $98,501.24, with a 24-hour increase of 0.84%. The market is volatile, so please be prepared for risk control.
The U.K. intends to create regulations for the cryptocurrency industry by early 2022, with a focus on stablecoins and staking services. This announcement by Economic Secretary Tulip Siddiq at a conference in London will provide clarity for the industry after months of uncertainty. The new framework will be eagerly awaited by those in the industry, as Bitcoin continues to break records and gain mainstream acceptance.
Cardano's ADA has reached its highest level since May 2022, with evidence of significant participation from large traders in the on-chain activity. As Bitcoin approaches the $100,000 mark for the first time, capital is shifting towards alternative cryptocurrencies, generating excitement in the wider crypto market. Additionally, Bitcoin has broken a new record above $98,000, and there are reports that former US President Donald Trump is considering appointing a "Crypto Czar" and a crypto lawyer for SEC Chair. BlackRock's IBIT options launch has also contributed to Bitcoin's new ATH.
On November 22, Matrixport's latest weekly report shows that the progress of the fifth Bitcoin bull market coincides with its prediction for July 2023. The report predicts that Bitcoin will reach $125,000 in December 2024, and with Bitcoin approaching the $100,000 mark, this prediction becomes more credible.
The impact of artificial intelligence (AI) is being felt across various sectors, including drug discovery, workforce productivity, and personalized content on streaming platforms like Netflix. Experts predict that the AI industry will grow by 40% annually and reach a trillion-dollar market by 2030, potentially transforming industries on an unprecedented scale. The use of cryptocurrency could play a crucial role in enabling open-source AI to overcome current limitations and reach its full potential.
Christodoulos Patsalides, a member of the European Central Bank's board, warns that if US President-elect Donald Trump follows through on his threatened trade tariffs, the European economy could ultimately fall into stagflation. "Trade tensions are escalating," said the Cyprus Central Bank governor on Thursday in Nicosia. "If trade restrictions become a reality, the outcome could be inflation, economic recession, or worse, stagflation." He said that although there is room for further lowering of borrowing costs, it should be done "at a stable pace and magnitude."
Scam Sniffer posted on X platform, stating that the crypto conference malware "Meeten" has been renamed to "Meetio". The community is warned to be vigilant, as the renamed application is just a "disguise" and still poses a security threat.
Paul Grewal.eth, the Chief Legal Officer of Coinbase, wrote on the X platform that the issues of Chevron and Binance's secondary sales have been clarified, but in Coinbase's lawsuit, the U.S. Securities and Exchange Commission (SEC) has prevented Coinbase from requesting the disclosure of Gary Gensler's communication documents. In March 2021, Gary Gensler told the U.S. Congress that the SEC lacked regulatory authority over digital asset exchanges, confirming the long-held belief among market participants that digital asset trading on these exchanges is not within the jurisdiction of securities law. Coinbase has requested that Gary Gensler provide documents related to these communications because they are related to how the SEC's enforcement actions violate the due process requirements of the Constitution, but the SEC and Gary Gensler are trying to prevent the disclosure of these documents.
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