Crypto News Daily roundup for December 1

TheCoinRise is back with another daily roundup for December 1 to give you summary of the things that happened recently in the crypto world.
TheCoinRise is back with another daily roundup for December 1 to give you summary of the things that happened recently in the crypto world.

With Wolf of Wall Street calling Shiba Inu a s**tcoin to Ethereum approaching its ATH, TheCoinRise is back with another daily roundup for December 1 to give you the complete summary of the things that happened recently in the crypto world.

The king coin is hovering above $57,000 with a stable green spot and has surged its price by more than 3% and 2% in daily and weekly charts, respectively. The next target for Bitcoin seems to be $60,000, which is also a critical level.

On the other hand, the largest altcoin, Ethereum, is just below its all-time high, just $100 below the peak. It is currently trading around $4,750, 2% down from ATH. The coin is already up by 13% in the last seven days. The surge comes following Vitalik Buterin’s announcement on limiting calldata per block to reduce gas fees of the transactions.

The hit of the day goes to Solana, which burst by more than 8% after the announcement of the Solana Trust by Grayscale.

Vladimir Putin fears crypto’s high risks

The Russian government has become very active these days. The president of the Russian Federation, Vladimir Putin, said that crypto bears high risks as it is not backed by anything. He also pointed out the high volatility being a danger. He added that one should listen to regulators and their warnings and laws.

As TheCoinRise reported, Vladimir recently said that he is also looking for implementations of crypto in oil settlements and as a store of value.

Guild of Guardians Raises $5.3 Million From Token Sales

NFT game Guild of Guardians raises $5.3 million worth of funds from the GEMS token sales, its native token. The sale happened on November 30 on Coinlist. 

Approximately 808,000 people registered for the public token sale, with over 10,000 people from more than 100 countries becoming new GEM holders. While there were many participants from all over the world, users from Australia, Canada, the United States, and China were unable to participate due to regulatory issues in those countries.

Softbank to invest $150M in the metaverse 

The Japanese multinational conglomerate holding company SoftBank is seeking to invest no less than $150 million on a metaverse project. As per recent reports, the company is in talks to invest in a South Korean Metaverse company Zepeto.

Zepeto is one of the rare platforms which contains more than 70% of its users as females, aged between 13 to 24 years. A user in Zepeto is allowed to create a digital avatar by simply scanning the picture and roaming in the metaverse. 

Bitcoin Mining Takes huge share of Kazakhstan’s National Power Grid

After China’s ban on Bitcoin mining, the miners shifted to crypto-friendly countries like Kazakhstan, and once, the government, in fact, said that mining activities would not be taxed in Kazakhstan. However, as per the recent report, the mining activities have continued to drain the country’s power grid, and the government is seeking help from Russia for an auxiliary power solution.

Kazakhstan’s Bitcoin hash rate has almost tripled in just eight months from 6% to 18%, and it stands at second position only behind the U.S., which has the largest, 35% presence on the Network. 

India answered on the crypto ban

The crypto industry was the buzzing subject in the Indian Parliament this Tuesday after Finance Minister Nirmala Sitharaman dispelled the incorrect suspicions about crypto bans in India on Monday.

On the second day of the Winter session, Sitharaman answered questions from several ministers about the awaited new Bill. She also advised MPs to hold off until the Bill is introduced in Parliament.

The minister said that the finance ministry and Reserve Bank of India are working in parallel to bring a better law to not ban but to regulate crypto. She further added that the authorities are also working on ways to spread awareness among youngsters about crypto and its underlying risks.

Jordan Belfort calls SHIB s**tcoin

The real-life Wolf of wall street and ex-broker Jordan Belfort attacks meme coins. He said that both Dogecoin and Shiba Inu do not have any utility and value, and their founders must be put behind bars.

Belfort, who already had spent around 22 months behind bars, said that these meme coins should be made illegal as the only purpose they have is to break people with their money. He believes that these s**tcoins negatively impact legitimate tokens like Bitcoin and Ethereum.

Fidelity Investments Introduces Spot Bitcoin ETF in Canada

This week, Fidelity Investments, a renowned asset manager, will introduce a spot Bitcoin ETF in Canada. According to Bloomberg’s Senior ETF experts, this will be the company’s debut ETF. An exchange-traded fund (ETF) is a publicly-traded investment that tracks the price of an underlying asset.

1inch Network’s Series B funding round

In the latest Series B funding round held by the DEX aggregator, 1inch Network, the 1inch team captured $175 million in investment. Furthermore, this investment round was led by Amber Group, followed by Jane Street, Alameda Research, VanEck, Fenbushi Capital, Celsius, Nexo, Gemini Frontier Fund, and Tribe Capital.

A total of 50 investors participated in the investment round, which will add a democratic nature to the Network, making everyone’s votes matter.

The market made many investors happy by surging many tokens today, with Solana being the star of the show. December has started on a good note, and we can expect greenery as most of the indicators suggest a bullish momentum. TheCoinRise will be back with another daily roundup tomorrow.