ECB president reiterates calls for ‘MiCA II’ in response to FTX collapse
Christine Lagarde, president of the European Central Bank, or ECB, has once again called regulation and supervision of crypto an “absolute necessity” for the EU in the wake of the collapse of crypto exchange FTX.
Christine Lagarde claimed that ECB needed to step up as a global regulator to address people’s increasing interest in digital assets.
Dogecoin jumps after Elon Musk shares glimpse into Twitter 2.0 plans
Billionaire Elon Musk has confirmed that he plans to integrate payments into what he describes as Twitter 2.0.
This propelled the Dogecoin (DOGE) meme to a short 19.4% price increase, from $0.089 to $0.107. DOGE is currently trading at $0.1031, up 8.93% after 24 hours.
House lawmakers set first FTX hearing for Dec. 13
House lawmakers will begin their investigation into the collapse of crypto exchange FTX, and its broader impact on the digital asset industry, at a hearing scheduled next month.
The House Financial Services Committee will hold its first FTX-focused hearing on Dec. 13. The hearing, titled “Investigating the Collapse of FTX, Part I,” is likely to be part of a series.
Google has invested $1.506 billion in blockchain firms
Google’s parent company, Alphabet, has invested over $1.506 billion in the blockchain space from September 2021 to June 2022, according to a report by Blockdata.
As per the information, Google has investments in Fireblocks, Dapper Labs, Voltage, and Digital Currency Group.
MakerDAO and Lido Finance are dominating the DeFi market
According to DefiLIama, MakerDAO has become the largest decentralized finance (DeFi) ecosystem, with a TVL reaching a whopping $6.63 billion.
Lido Finance holds the second place; the project allows users to stake ETH to receive stETH to gain yield on top of yield. Lido Finance currently has a TVL of 5.68 billion USD.
Bitcoin ‘millionaire’ wallets drop 80% in year of BTC price bear market
According to Glassnode, as of Nov. 25, there were 23,245 with a balance worth over $1 million. Contrast that with the scene from Nov. 8, 2021, when the tally hit its peak as BTC/USD approached its latest $69,000 ATH — then, there were 112,898 “millionaire” wallets.
Even so, the number of Bitcoin addresses continues to grow throughout 2022. As of November 27, the number of wallets with more than one Bitcoin has reached 952,000 – a record in Bitcoin’s history.
Bitcoin mining revenue lowest in two years, hash rate on the decline
The revenue earned by Bitcoin miners fell to two-year lows owing to poor market performance and a heavier computational demand amid rising network difficulty.
The total Bitcoin mining revenue — block rewards and transaction fees — in United States dollars fell down to $11.67 million, a number last seen on Nov. 2, 2020, when Bitcoin’s trading price was around $13,500.
Putin calls for blockchain-based international payment system
The Russian President criticized Western sanctions and urged for a system “independent of external interference.”
President Putin stated that “The technology of digital currencies and blockchains can be used to create a new system of international settlements that will be much more convenient, absolutely safe for its users and, most importantly, will not depend on banks or interference by third countries.”
Cardano has 1,146 projects under construction
According to Cardano’s weekly development report, there are now a total of 1,146 projects built on the network, an increase of 33 projects as of September 30.
Ethereum whale accumulation reaches highest rate in 2 years
According to Santiment, ETH whales devoured a staggering $1.03 billion worth of Ethereum in just one day earlier this week.
This represents the fifth-largest single-day purchase by the largest group of whales in the past year.