High tales of this week
Based on information, 7 class motion lawsuits have been filed towards SBF thus far
3AC subpoenas issued as dispute mounts over Terraform dump claims
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Is China softening towards bitcoin? A twist moves the crypto world
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Strengthening community resilience to crises through mutual aid and Web3
USDC issuer Circle completes SPAC merger with Concord
Bankruptcy judge orders return of $44 million in crypto to Celsius customers
Goldman Sachs reportedly wants to buy crypto firms after FTX collapse
Winner and Loser
Bitcoin at the end of the week (Bitcoin) is at $17,118ether (ETH) at $1,263 and XRP at $0.38. The total market capitalization is at $852.99 Billion, according to to CoinMarketCap.
Among the many prime 100 cryptocurrencies, the highest three altcoin gainers of the week are Axie Infinity (AXIS) at 14.67%, EOS (EOS) at 9.38% and Belief Pockets Tokens (TWT) at 7.83%.
The highest three altcoin losers of the week are 1inch Community (1 INCH) and -12.41%, chilli (CHF) at -11.13% and helium (HNT) at -10.35%.
For extra info on crypto costs, see Cointelegraph's Market Evaluation.
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North American crypto miners are making ready to problem China's dominance
Most Memorable Quotes
“In case you take a look at international locations like Iran and North Korea, from a US perspective, crypto has really been broadly sanctioned.”
Andrew Fierman, Head of Sanctions Strategy for Chainalysis
"Greed cannot be regulated."
Jaime ZuluetaCrypto Retail Investors
"I don't think the FTX collapse will spread to the real economy."
Elvira Sojli, Associate Professor of Finance at the University of New South Wales
“Stablecoins and CBDCs could co-exist in some way in the future, depending on how constrained stablecoin regulations and CBDC adoption rate would be.”
Grace Chen, CEO of Bitget
"It's a no-brainer for Twitter to have payments, both fiat and crypto."
“Had the SEC done the due diligence of a thorough investigation of FTX's financial data, there would have been a greater chance of exposing the crypto exchange for what it really is: a car dealership[d]s is built on monopoly money printed out of thin air.”
Richie Torres, US representative
forecast of the week
Bitcoin takes liquidity near $17,000 as US Dollar shows weakness ahead of CPI
“We're probably entering the final stages of the bear,” pseudonymous Twitter commentator Byzantine General said Dec. 7 after noting declining Bitcoin perpetual futures trading volume and other points. "But that last phase can take quite a long time," he added. His tweets on the subject included accompanying charts.
FUD of the week
The Bank of Russia wants to ban miners from selling crypto to Russians
Nigeria bans ATM cash withdrawals over $225 per week to enforce CBDC use
Iran wants to freeze bank accounts of women who refuse to wear hijab
Iranian officials plan to financially punish women who do not wear hijab in public. People who refuse to heed two warnings could have their bank accounts frozen, lawmakers said Dec. 6. Hossein Jalali, a member of the Culture Commission of the Islamic Consultative Assembly, told Iranian media that "unveiled persons" would receive a text message advising them to heed the laws before entering a "warning period" and potentially having their bank accounts frozen.
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Decentralized Identity: In the 21st century, prove it really is you
“For example, an NFT of a diploma in your crypto wallet would turn into a permanent academic certification.”
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South Koreans are obsessed with technology. More than half of the population plays video games and crypto adoption is high — both promising signs that his plan to dominate the Metaverse will succeed.
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Decentralized file-sharing services that big tech companies can't control are the only way internet users can maintain their freedom for years to come.
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editorial staff
Cointelegraph Magazine writers and reporters contributed to this article.