In this fast-paced world, many of you might have missed catching up on the top crypto news of this week. But, there’s nothing to worry about as in this edition of weekly crypto news, Coin Informer unravels the top crypto headlines. Like every other week, this week’s crypto landscape was also filled with chaos, controversies, courtroom trials, prices up and down, and more. So, without further ado, let’s start unraveling the top news in the crypto landscape this week.
Crypto Royalties to Back Pro-Crypto Candidates in 2024 U.S. Elections: Top News in the Crypto World
(Tuesday, December 19, 2023)
There is a battle in Washington about the future of blockchain technologies: Certain policymakers believe it should be banned, while other people think it should have no guardrails. Neither of those options will allow the technology to reach its full potential and realign the future of the internet away from Big Tech to the people who use it.
– Chris Dixon, Andreessen Horowitz (a16z) founder & managing director
Regulatory overreach (especially from the SEC) is actively moving the U.S. in the wrong direction, and other countries are taking full advantage of the lack of U.S. leadership. We need to advance leaders who will champion innovation and spearhead paths toward responsible regulation.
– Brad Garlington, Ripple CEO
These statements by top crypto industry leaders come after the shocking announcement of the Fairshake Political Action Committee (PCA). This committee comprising Coinbase CEO Brian Amstrong, Circle, Andreessen Horowitz (a16z), Messari, Circle, Winklevoss, and Tyler & Cameron Winklevoss, announced that they contributed $78 million to support pro-crypto and blockchain candidates for upcoming 2024 U.S. general elections.
In the past few years, the crypto industry has felt left out by the central government, and their continuous attacks on their firms and processes through the SEC have further escalated this cold war between the central government and the crypto industry. That’s why ‘The Fairshake Political Action Committee’ has to make this decision.
BlackRock Filed for a Revised Spot Bitcoin ETF Proposal in a Bid to Get SEC Approval: Top News in the Crypto World
(Monday, December 18, 2023)
Last month, BlackRock applied for its iShares Blockchain & Tech ETF in the proposal for an in-kind redemption model. SEC closely examined the proposal by raising concerns over some topics in it, such as investor safety and market manipulation. As a result, SEC suggested BlackRock make improvements in the proposal by adding cash redemptions instead of an in-kind redemption structure.
Considering this suggestion in mind, BlackRock filed a revised ETF proposal on Monday with the hope of securing a first-of-its-kind approval in the U.S.
In the updated proposal, BlackRock’s Spot Bitcoin ETF will feature a cash redemption structure, as the SEC favored it most. As per insiders’ sources, BlackRock’s ETF approval can be expected in early to mind January.
Bitcoin Fees Ahead of Ethereum’s for the First Time in Last Five Years: Top News in the Crypto World
(Tuesday, December 19, 2023)
For the first time in over five years, Bitcoin’s fees have surpassed Ethereum’s fees for the third straight day. Typically, the “Fee” refers to the transaction payout that users on the platform have to attach with each payment transfer for the miners & stakes.
The reason why Bitcoin’s fees have surged by surpassing Ethereum’s has a lot to do with the platform’s traffic. Since Bitcoin’s price is stable and reaching new heights, its blockchain platform is congested, resulting in a rise in the fees. On the other side, Ethereum is struggling to make a massive price jump. Therefore, it’s obvious for Bitcoin to surpass Ethereum in terms of fees.
Top Trending Assets and their Prices as of December 12, 2023 (as of 12:40 am GMT-8):
- Bitcoin (Price Rate: $43, 897.17, Growth in Last 24 hours: 2.47%)
- Ethereum (Price Rate: $2,219.31, Growth in Last 24 hours: 0.38%)
- Binance Coin (Price Rate: $86.38, Growth in Last 24 hours: 2.12%)
- Solana (Price Rate: $86.13, Growth in Last 24 hours: 12.58%)
- Cardano (Price Rate: $0.60347802, Growth in Last 24 hours: 2.20%)
- XRP (Price Rate: $0.61664330, Growth in Last 24 hours: 1.29%)
- Avalanche (Price Rate: $46.07, Growth in Last 24 hours: 10.25%)
Stay Tuned!
That’s a wrap for this week’s top news in the crypto world. The crypto landscape is ever-changing and dynamic. Like the flow of water in the perennial river, which didn’t slow down, the crypto world is also like this. Stay tuned with Coin Informer for next week’s crypto weekly news roundup. Have a happy weekend ahead!
