We compile the top news stories weekly within the crypto, blockchain, metaverse, and NFT space. The weekly wrap-up covers everything from BTC & ETH updates, recent investments, developments of exciting new projects, and other relevant topics.Here is everything you need to know for the week of December 4th to 8th
📈 Weekly BTC and ETH Overview
Despite signals pointing downwards these past two days, Bitcoin has experienced a significant surge, reclaiming the crucial resistance level of $40K. Although the market currently demonstrates strong bullish sentiment, analysts say there are indications of a possible temporary correction. Similarly, after Ethereum followed a consolidation phase around the $1.5K level, buyers reentered the Ethereum market, successfully regaining control of the $2K resistance zone.
At the time of writing, BTC is trading at $43.2K, down 0.67% in the last 24 hours. Similarly, ETH is trading at $2.3K, up 4.8% in the previous 24 hours.
🗞️ Top Market News
- The CEO of Grayscale expresses optimism after positive discussions with the SEC regarding a potential spot bitcoin ETF. Though timelines have not yet been shared, the CEO said the questions they are receiving from the SEC show they aim to engage in the matter and progress in the issue. Read more here.
- A guilty plea related to anti-money laundering violations has been accepted by a U.S. district judge from former Binance CEO Changpeng Zhao. Judge Richard Jones swiftly approved the plea, shortly after Binance founder Changpeng Zhao and the exchange pleaded guilty to anti-money laundering violations. Zhao resigned as CEO as part of the plea deal. Read more here.
🚀 New Project Developments
- Beam forms partnerships with Immutable and Polygon Labs to facilitate multichain expansion and product development. The partnership means that Beam will launch on Immutable zkEVM, a scaling solution by polygon. Read more here.
- Coinbase introduces money transfers through links shared on platforms like TikTok, Instagram, Telegram, and more. There will be no payment fee when sending USDC via the users linked Coinbase wallet. This development aims to make it easier for tech-savvy users to buy, send, receive, and view their assets. Read more here.
- Fusionist [ACE] is scheduled to launch on OKX Jumpstart on December 13th. BTC and OKB holders can stake their coins to mine ACE tokens in return. KYC will need to be completed and exclusive country regions can participate. Read more here.
🔍 More Featured Stories…
Taiwanese authorities are considering the potential launch of cryptocurrency ETFs. The Financial Supervisory Commission sees itself in the initial stages of exploring crypto exchange-traded funds (ETFs). Read more here.