Crypto Market Highlights December 25, 2021

‘Unique DOGE Proposal’, Binance ‘Funds SAFU’, Thailand to test CBDC at the end of 2022 and many other highlights of the crypto market put together in the last 24 hours.

Crypto Market Highlights: Investment News

• According to market data provider CryptoCompare, the assets under management (AUM) of Bitcoin (BTC) and grayscale products fell more sharply in December than competing assets and technical asset firms market data provider CryptoCompare. The market share of Bitcoin products fell from 70.6% in November to 67.8%, the lowest level in 2021, while the AUM for Grayscale products fell 17.1% to $ 43.9 billion and one Reached market share of 76.2% of total AUM, which is also the lowest market share in 2021.
• The US Securities and Exchange Commission has rejected applications for Bitcoin Spot Exchange Traded Fund (ETF) from Valkyrie and cryptoin. The watchdog has yet to approve an application for a spot Bitcoin ETF.
• Content crypto platform XCAD Network closed Series A funding from one of Wall Street’s premier digital asset players, Jump Crypto, but did not disclose the amount invested. They say Jump Crypto will help make XCAD a leading asset in the field through exchanges, partnerships, increased liquidity, and more.

Crypto Market Highlights: New Product and Service News

The Dogecoin Foundation, a non-profit organization behind the meme-based Dogecoin (DOGE) project, is working in collaboration with Ethereum (ETH) co-founder Vitalik Buterin on a staking mechanism that will allow everyone to use Dogecoin to their DOGE and get more tokens to support the network. They added that they are creating a “single doge proposal” for a “community staking” version of the Proof of Stake (PoS) that will be returned to the community through charity.

Crypto Market Highlights: Stock Market News

Binance had some spot trading issues around 5 a.m. UTC on December 24, but stated that “the fund is SAFU”. Problems were resolved in less than half an hour.

Crypto Market Highlights: Security News

According to cybersecurity firm ReasonLabs, pirates attempting to download illegal copies of the movie Spider-Man: No Way Home are infecting their computers with crypto-mining malware. A torrent source could be a Russian torrent site, and while the malware doesn’t steal personal information, ReasonLabs has shown that it slows down accurate bills causing victims to slow down.

Crypto Market Highlights: CBDC. Messages

The Thai central bank expects to test the central bank’s digital currency (CBDC) as an alternative payment option for the public by the end of 2022 – later than planned, according to Reuters. The pilot, previously slated for the second quarter of 2022, will evaluate the use of CBDCs in cash-like transactions on a limited scale, said the central bank’s deputy chief Kasidit Tan.

Crypto Market Highlights: Regulatory News

Wyoming Senator Cynthia Lummis, one of the U.S. lawmakers behind many pro-crypto pieces of legislation, plans to come up with a comprehensive bill next year on how to deal with digital assets, Bloomberg reports. The proposed bill would aim to provide regulatory clarity for stablecoins, guide regulators on how cryptocurrencies fall into different asset classes, and provide consumer protection with the Commodity Futures Trading Commission (CFTC) to oversee the cryptocurrency market.

Crypto Market Highlights: Business News

The UK branch of financial services firm Fidelity Investments reported that customers have been most interested in trading stocks in crypto mining company Argo Blockchain over the past 12 months. However, the company hinted that Argo may not make the top 5 next year as “newbies” removed the miner from the list of most actively traded stocks in December.

Crypto Market Highlights: Career News

Adam White, founding chairman and CEO of digital asset company Bakkt, will be leaving the company this coming weekend after three years. The Bakkt chairman did not reveal what his next step will be or if he will continue to work in the crypto space.

Richard Teng, who joined Binance Singapore four months ago as CEO, has taken on a new role as the organization’s global head for the Middle East and North Africa, according to his LinkedIn profile. The move comes after Binance announced an agreement with the Dubai World Trade Center Authority to build an international ecosystem for virtual assets.

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