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All data as of: 21 Dec 2023 10 AM UTC |
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Greetings crypto fam! CoinMarketCap is here with another edition of the daily crypto briefing, where we dive into the latest happenings in the ever-evolving world of crypto and blockchain. ☕️ Today's top headlines at a glance: |
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- Ripple registers in Ireland ahead of EU crypto regulations 🇮🇪
- China records first cross-border settlement using digital yuan CBDC 🇨🇳
- Cardano partners with Brazilian oil giant Petrobras for blockchain education 🎓
- Trezor adds support for Solana and SPL tokens ✅
- Ledger pledges to reimburse victims of recent Connect Kit exploit 💸
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Now, let's dig deeper into those stories ... |
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Ripple Goes to Ireland 🇮🇪 |
Ripple is cozying up to Irish regulators ahead of new EU crypto rules. The company registered with Ireland's central bank to access Europe's massive market. While the SEC lawsuit goes on in the U.S., Ripple sees greener pastures in Europe. Yet questions remain about how much regulatory clarity MiCA will truly provide. Ripple has gone through a rocky road since the SEC dropped its bombshell lawsuit in 2020. The case alleges Ripple conducted an illegal securities offering with its XRP token. A partial legal victory in October offered some hope. However, the final outcome remains uncertain. With the regulatory uncertainty in the U.S., Ripple is now looking to Europe and its massive market. And how long will Ripple's case last in the U.S.? Read the full story! |
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China's Digital Yuan Domination 💰 |
China just flexed its digital yuan muscles and made history with its overseas precious metals trade. The country is on a mission to make its e-CNY the top global digital currency. But does it have enough firepower? Last week China recorded its first international trade using the digital yuan - settling a $14M precious metals purchase. China's central bank called it a "major step" in promoting global use of its state-backed digital money, the e-CNY. But can China's digital yuan knock out the dollar's dominance? Or will resistance from the West leave the e-CNY stalled? Two major countries are already on board with this CBDC. Read the full story! |
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And that brings us to our Word of the Day! |
It's CBDC! CBDCs represent national fiat currencies like the dollar or euro in the form of digital tokens issued by central banks as opposed to private cryptocurrencies. Central banks seem eager to adapt cash into the 21st-century digital landscape to keep pace with technology. However, unlike decentralized cryptocurrencies, CBDCs remain firmly under central bank control. This means central banks aim to digitize money while regulating every aspect they would with physical currency - from supply and tracking mechanisms to privacy safeguards and anti-crime protections. But how do they turn it into a digital form? And are there any successful CBDCs yet? Read more! |
Now back to our daily stories! |
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What's Happening in Brazil? 🇧🇷 |
The Cardano Foundation recently announced a strategic partnership with Brazilian state-owned oil giant Petrobras that aims to provide blockchain education to Petrobras' 45,000 employees. This is an impressive collaboration that highlights growing enterprise interest in blockchain technology. This could turn out to be Cardano's Trojan horse to dominate Latin America's Web3 landscape. But with heavy hitters moving into LatAm, will Cardano's head start pay off? Is the government on board with the blockchain plan? Read the full story! |
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Trezor's New Token Support 😌 |
Crypto hardware wallet Trezor just announced support for two altcoins: SOL and SPL tokens. Both Trezor's Model T and new budget Safe 3 now support these tokens. This wallet upgrade lets you hold all your Solana assets safely as the network experiences a major comeback right now. The decision comes at an opportune time, as Solana has seen resurging interest and adoption in recent months due to its high transaction speeds and low costs. SOL prices have appreciated considerably since October, indicating strong momentum. It also comes right after Trezor's rival Ledger got hacked. Is Trezor swooping in to steal Ledger's spotlight? Is this news bullish for SOL? Read the full story! |
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Breakout vs Fakeout (False Breakout) — Spot the Difference and Increase Accuracy |
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| In today's article, we will dive deeper into breakouts and fakeouts and learn how to use them to make better trading decisions. |
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Ledger Is Promising Refunds 💸 |
Crypto hardware wallet maker Ledger is kicking into crisis mode after an exploit drained $600K from users. The bug struck on December 14th and targeted multiple decentralized apps connected to Ledger's tech. SushiSwap, Revoke.cash and others got rekt. Understandably, affected users are pissed about losing their hard-earned assets. But Ledger's trying to make it right. The company's CEO said they'll use any resources needed to reimburse customers. Ledger also reiterated that its devices and Ledger Live app weren't directly compromised. Just the connector to DeFi sites. Still, users have trust issues now. How long will it take for Ledger to refund all its users' assets? Read the full story! |
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And that concludes today's top stories. We will be back tomorrow with more crypto news. WAGMI! |
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