ameli3red

@ameli3red

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Today in crypto, global trade concerns continue pressuring investor sentiment, risking a potential Bitcoin correction below the key $75,000 support level, and the US Securities and Exchange Commission has released a statement saying it does not view memecoins as securities as it drops its lawsuits against Coinbase, Consensys and Gemini.

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According to Patrick Hansen, senior director of EU strategy and policy at Circle, the list includes Banking Circle, stablecoin issuer Circle, Crypto.Com, Fiat Republic, Membrane Finance, Quantoz Payments, Schuman Financial, Societe Generale, StabIR and Stable Mint.

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Bitcoin’s range-bound price action may be manufactured based on the trajectory of the past months, according to Samson Mow, CEO of Jan3 and founder of Pixelmatic.

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https://warpcast.com/ameli3red/0x5b142513

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Nigeria plans to amend current digital asset regulations to tax crypto transactions, according to a Feb. 18 report by Bloomberg. The move, which would bring all eligible crypto transactions on regulated exchanges into the formal tax net, could generate “substantial revenue” for the country.

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In addition to the Blockchain Association, the task force met with representatives from Nasdaq, Andreessen Horowitz, Multicoin Capital, Jito Labs and Sullivan & Cromwell in early February.

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The system’s basics could theoretically be applied to resolve any legal disputes in blockchain environments, not just bug bounty-related issues. Amador explained:

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The new legal system could set a precedent for more blockchain-based legal applications, thanks to the transparency and transformative use cases of the shared blockchain ledger.

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Today, in crypto, Kyrgyzstan’s cryptocurrency mining tax revenue dropped by over 50% in 2024, totaling $535,000(46.6 million soms), despite rising crypto valuations. US Bitcoin ETFs broke a four-day outflow streak, bringing in almost half a billion in inflows. Also, bettors on Polymaket and Kalshi expect 2025 to be a record year for cryptocurrency prices.

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Even though NFTs endured, holders faced numerous challenges this year, from a downward streak to regulatory hurdles.

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While NFT sales volumes are lower than in previous years, the space saw a 62% increase in unique buyers year-on-year. In 2023, NFT buyers numbered about 4.6 million, which rose to 7.5 million in 2024.

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NFTs continued to be integrated within the Web3 space despite facing challenges in 2024. While some outlets wrote obituaries for NFTs, holders traded digital collectibles. According to data tracker CryptoSlam, NFTs recorded about $8.5 billion in sales in 2024.

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The duo also allegedly harassed and intimidated a person who exposed their involvement in one NFT project.

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Prosecutors alleged that Gabriel Hay and Gavin Mayo gave misleading statements and false roadmaps for a series of NFT and digital asset projects. Hay and Mayo are accused of abandoning projects after investors had poured money into them.

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Two 23-year-olds from California were arrested and charged with performing a series of rug pulls using NFTs and other digital assets. The duo allegedly defrauded investors of over $22 million.

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Because of the sudden volume surge driven by Ethereum-based digital collections, NFT sales in December reached $678 million in just 21 days. December’s sales surpass the previous month’s record of $562 million. At the time of writing, NFTs had reached a sales volume of $771 million in December.

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NFT collections based on Ethereum drove weekly sales volumes to over $300 million as NFTs surged in December. In the week leading to Dec. 21, Ethereum NFT collections like Pudgy Penguins, LilPudgys, Azuki, Doodles and CryptoPunks dominated the NFT sales charts.

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In this week’s newsletter, read about how Ethereum-based non-fungible tokens (NFTs) drove weekly sales volumes to more than $300 million as collections like Pudgy Penguins and Azuki surged. Meanwhile, two 23-year-olds were accused of performing a series of rug pulls using NFT projects and other digital assets. Also, check out Cointelegraph’s NFT recap 2024 to review the year’s trials and major events in the NFT space.

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“There’s a lot of demand for Bitcoin yield. Whether it makes it into an ETF structure in the United States, I’m not sure, but in Europe, definitely,” Hougan said.

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In 2025, Bitcoin staking ETFs may also gain traction, Matt Hougan, asset manager Bitwise’s head of research, told Cointelegraph.

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