Crypto News Daily roundup for December 2

With the market giving huge profits as December starts, we at TheCoinRise are here to give you a summary of all the important announcements, statements, and collaborations that happened in crypto world on December 2.

Bitcoin looks pretty good with its goal to breach the $60,000 critical level but is in a resting mode for the day. It is currently trading around $57,000 with a price low of 2.5%in the last 24 hours. Ethereum is following the king coin and is down by around 4.5% and is currently trading around $4,470.

MATIC is holding above $2 and has been the star of the day, with a price surge of 2% in the last 24 hours. 

Who owns 1.1 million Bitcoins?

The legal battle between Craig Wright, who claims to be the investor of Bitcoin, and the estate of his now-deceased friend David Kleiman, who claims to be the partner of Wright in BTC development, is coming to a deadlock. Jurors remain deadlocked over the fight for the ownership of 1.1 million Bitcoins of tens of billions of worth, which might end in a mistrial.

Both sides are agreeing to Wright being the developer of Bitcoin who pseudonym himself as Satoshi Nakamoto. However, the estate claims that he has broken an informal agreement with David to mine and develop the king coin collaboratively.

Wright, on the other hand, claims that Klieman just proofread the Bitcoin whitepaper and didn’t contribute to the development as he was not a programmer.

Meta receive 27 regulatory licenses to expand crypto ad eligibility on Facebook

Meta, the trending metaverse marketplace and social media giant, announced that it is expanding its eligibility requirements for running crypto-related ads on Facebook, giving firms more scope to market crypto-related products and services.

Meta announced that it recognized 27 regulatory licenses and approvals from advertisers. The company had only three licenses before this. This implies the increased freedom for crypto firms to market their services on Facebook.

Square rebrands to Block

The digital payment company owned by Jack Dorsey, the founder and former CEO of Twitter, officially announced that it had rebranded itself to Block, seemingly shifting its focus towards blockchain technology. It aims to bring payment firms together with tbDEX, Tidal, and Cash App.

Interestingly, as TheCoinRise questioned the connection between Dorsey’s resignation from Twitter and Square’s new project, many are speculating this as a step to verify the doubts.

Square will be officially changing its name around December 10, and there will be no operational change in Block, Cash App, Tidal, Spiral, and tbDEX.

SEC Chief wants decentralized crypto exchanges

The U.S. Securities and Exchange Commission (SEC) chair Gary Gensler has come back with new remarks on the need for regulations in the decentralized market. He further added that the commission is even ready for the meeting to exchange representatives on subjects like token custody.

The SEC chair has previously asserted that the crypto market will not end well without regulations and laws.

He, however, warned that in case any exchange fails to meet the laws laid by the regulator would have to face regulatory wrath.

Algorand to monitor air quality in Miami through a partnership

Miami is going to become one of the first significant cities in the United States to begin tracking its air quality, according to a partnership between Algorand and PlanetWatch, a French environmental technology startup.

PlanetWatch has developed five air quality sensor types, which will be spread throughout Miami, including private households, after receiving investment from Borderless Capital’s $10 million PLANETS fund.

Previously, Ripple has been seen partnering with Palau for an eco-friendly national digital currency. 

15 from crypto industry in Forbes 30 under 30

American business magazine Forbes’ 2022 edition of 30 under 30 list contains 15 young crypto entrepreneurs. Despite its misleading name, the list actually has 600 people from 20 different sectors like music and finance, aged not more than 30 years.

The most recent edition released on December 1 tells that the latest group of under the 30s raised over $1 billion in total.

Previously, Forbes released the Forbes 400 list, which contained seven crypto billionaires with a total wealth of $55.1 billion.

Binance to drop its application to operate in Singapore

The world’s largest cryptocurrency exchange by trading volume, Binance is planning to scale back its plans to secure a license to operate in Singapore, as the regulatory authorities’ silence appears to be overwhelming to the brokerage’s leadership. Binance has hinted at dropping its applications to operate from Singapore’s apex market regulator, the Monetary Authority of Singapore (MAS), according to local news outlets.

Hashed Pulls $200M in Funding

The South Korea-based venture capital firm Hashed has secured $200 million to fuel its broad investments in Web3.0-related inventions.

Hashed describes itself as a team of blockchain experts and builders based in Seoul and Silicon Valley and is regarded as one of South Korea’s most prestigious venture capital firms.

The organization believes that decentralization has the potential to revolutionize not only the global economy but also the internet’s very fabric, which explains its persistent investment in protocols that promote these ideals. Hashed has previously invested in projects such as Axie Infinity, The Sandbox, and Terra.

Silk Road Founder launches NFT Collection

Silk Road marketplace founder Ross Ulbricht announced that he is presenting a line of NFTs, Ross Ulbricht Genesis Collection, marking various points of his life from childhood to his time in prison. The digital artist Levitate has designed the collection, and it will contain ten items from Ulbricht, including artwork, writings, and animation, along with a voice-over by Ulbricht.

The collection will be launched on December 2 at the 2021 Art Basel event in Miami and is minted on Ethereum blockchain. The auction will be open from December 2 to December 8 on the SuperRare NFT platform curated by Entoptic. 

The market made many investors happy by surging many tokens today, with MATIC being the star of the show. We can expect a good start with December after the recent correction. TheCoinRise will be back with another daily roundup tomorrow.