Crypto News Daily roundup for December 8

With all the regulatory updates, collaborations, and controversies, TheCoinRise is back with another daily crypto roundup for December 8.

The largest cryptocurrency, Bitcoin (BTC), is trying somehow to stay above $50,000 by showing stagnant behavior. The investors are holding still, which is clearly visible from the low trading volume. The coin is still down by around 14% in the last seven days and 1.5% in the last 24 hours.

The largest altcoin, Ethereum (ETH), has also been down by 6.5% in the last few days. However, ETH has been up by 1.5% in the last 24 hours and is currently trading around $4,380.

Polygon (MATIC) has still been the star of the show by breaching the $2.5 level and is all set to make a new all-time high soon. Smooth Love Potion (SLP), on the other hand, hit the lowest of the year and started an upward motion for the day.

OpenSea CFO dismissed rumors on IPO launch

Rumors on OpeanSea’s planning on Initial Public Offering (IPO) release have been suspended recently when the freshly appointed CFO of the company said that OpeanSea has no plans on bringing an IPO. The company users displayed displeasure previously, which the CFO also diminished by saying that if the company plans to bring the IPO, it will surely involve the community.

CIA director reveals Agency’s goals on blockchain intelligence

The Central Intelligence Agency (CIA) official says that the Agency’s former director has initiated several projects with the goal of gathering information on crypto, and the Agency is working in the same direction.

William Burns, the CIA director, stated that the Agency was looking for the addition of blockchain technology and digital assets expertise in its intelligence analysts team.

He went on to say that the impact of the underlying risks on the U.S. could be huge as we have already seen multiple ransomware hacks that demanded payments in crypto previously.

Bank of Thailand doesn’t want the involvement of commercial banks in crypto

The central bank, the Bank of Thailand, tells commercial banks to stop their involvement in crypto-related activities, especially trading.

The senior director of the central bank says that the underlying risks, including high volatility, make crypto-assets a risky asset for commercial banks that just own general public deposits.

Australia to bring world-leading crypto reforms

Australia these days has been really active in the crypto world, and the government is all set to launch its own Central Bank digital currency with a serious stance. The government has also backed six really unique forward-looking proposals named “payment and crypto reform plan,” which is expected to be the boldest shake-up since 1990 in the country’s payment system. 

Australia recently also saw a couple, Emma Robinson and Hugo De Meira Quintao, losing more than $100,000 to scammers while investing in a crypto exchange.

According to the Australian couple, they were saving for their first house when they came across a company called StockLaunch, which grabbed their interest and affected their decision to invest in crypto exchange shares. 

VISA launches Crypto Advisory Service

Visa Inc., the largest payment processor in the world, has reportedly dived deep into the crypto world by launching a crypto advisory service for its international client base, including merchants and banks.

The news came out amidst the growing adoption and popularity of cryptocurrencies all over the world. Recently, the payment giant also revealed its support to Bitcoin.

Iceland lowers the power supply for Bitcoin miners

The famous National Iceland electrical company Landsvirkjunis in headlines as it has cut the power supply for newcomers in the crypto mining sector. It will be limiting the power supply for several industries, including aluminum smelting and Bitcoin mining.

New York lawmaker believes holding digital assets is unethical 

The democrat and famous lawmaker, known for her extraordinary opinions and statements, Alexandria Ocasio-Cortez from New York, revealed that she does not own any digital assets. He also expressed her view to members of Congress who own cryptocurrencies. She finds it really unethical and unprofessional to hold digital assets when one has sensitive information regarding upcoming laws. 

She added on her Instagram story that the main reason behind not owning any crypto asset is the aim of being impartial while making a law. 

DOGE and ETH in top 10 news searches on Google

Elon Musk supported Dogecoin (DOGE), and Ether (ETH) is in the list of most searched news keywords in 2021 in the whole world.

Google recently revealed that the two top crypto tokens had made it to the annual list of the search giant’s news search, with DOGE standing at 4th position. ETH has been at the 10th position on the list.

In this major fight between bulls and bears, it would be interesting to see who wins. However, it seems like this bull cycle is extended till the first or second quarter of 2021. TheCoinRise will be back tomorrow with another daily roundup.