Cypherpunk Times Monthly Roundup(December 2023 Edition)

A month in crypto is never dull. Here's an overview of this month's main events.

December 1st to December 9th:

  1. US crypto industry lobby spending on track for new record in 2023
US crypto industry lobby spending on track for new record in 2023
The cryptocurrency industry was on track to hit a new record for federal lobbying spending, after a year in which firms scrambled to repair their reputations and advance friendly legislation, according to data provided to Reuters by nonprofit research group OpenSecrets.
  1. SEC delays Grayscale spot Ethereum ETF conversion
  1. Coinbase rolls out money transfers via links sent on WhatsApp, TikTok and Instagram
Coinbase rolls out money transfers via links sent on WhatsApp, TikTok and Instagram
If two parties both possess Coinbase Wallet they can send money to each other instantly and for free, the company announced.
  1. Japan weighs ending tax on some corporate crypto holdings
Japan weighs ending tax on some corporate crypto holdings
Move aims to stem flow of startups choosing Singapore, Dubai over Tokyo
  1. Coinbase app ranking in the App Store remains flat
  1. Société Générale to become first big bank to list a stablecoin
Société Générale to become first big bank to list a stablecoin
French lender launches trading of token fully backed by euros on Bitstamp exchange
  1. US district judge accepts plea deals agreed by Binance, former chief Changpeng Zhao and Justice Department -court filings

https://www.reuters.com/legal/us-judge-signs-off-binance-former-chiefs-plea-deals-with-doj-court-filings-2023-12-06/

  1. Robinhood launches crypto trading app in Europe
Robinhood launches crypto trading app in Europe
Robinhood, the California-based investment app, today launched commission-free crypto trading in the European Union.

December 10th to December 17th:

  1. If the current Bitcoin price rally marks the start of a new and prolonged bull market, the recovery will be significantly quicker than in previous cycles
  1. World’s first Bitcoin bonds receive regulatory approval in El Salvador
World’s First Bitcoin Bonds Receive Regulatory Approval in El Salvador
The bonds are expected to launch in Q1 of 2024, several posts amplified on social platform X by President Nayib Bukele suggest.
  1. As Bitcoin's price rises at the fastest pace in years, open interest has surged even amidst large liquidation events.

    Open interest hit $10.2bn last week, its highest level since March 2022
  1. Coinbase to offer spot crypto trading outside US in global expansion
Coinbase to Offer Spot Crypto Trading Outside US in Global Expansion
Coinbase Global Inc. is rolling out spot crypto trading on its international exchange as part of a global expansion, saying some users are wary of US venues due to the country’s uncertain regulatory backdrop.
  1. Cumulative price changes during US and Asian business hours suggest that demand for Bitcoin is coming from both the West and the East

https://assets.arkinvest.com/media-8e522a83-1b23-4d58-a202-792712f8d2d3/bf887b28-0e6d-4cf2-bcb2-27a90221146d/The%20Bitcoin%20Monthly%20(November%202023).pdf

  1. Ledger library confirmed compromised and replaced with a drainer
  1. Ledger and WalletConnect can confirm that the malicious code was deactivated. You are now safe to use your Ledger Connect Kit
  1. Tether: We’ve onboarded FBI, Secret Service to our platform
Tether: We’ve onboarded FBI, Secret Service to our platform
In a letter to U.S. government legislators, Tether’s new CEO lays out his vision for the future of security for Tether stablecoins.

December 18th to December 25th:

  1. Despite the tumultuous macroeconomic environment in 2023, Bitcoin recorded its lowest annualised volatility in history, standing at 41.53%

https://uploads-ssl.webflow.com/63e3774c88285e5c6cbf3b9d/657b38da86f1191b919eb8e4_2023%20Q4%20Outlook%20Report.pdf

  1. Throughout 2023, Kraken boasted the deepest average BTC order book, with bids and asks totaling $32.9 million. Coinbase followed in second place with an average depth of $24.3 million, while Binance's average daily depth is shown in red for context
Will ETFs Boost Bitcoin’s Liquidity?
We analyze the state of bitcoin liquidity ahead of a possible ETF approval in January.
  1. Bitcoin transaction fees hit their highest level of all time. $23.6 million of fees in one day
  1. Ledger to reimburse affected users, plans to sunset Blind Signing with Ledger devices by June 2024
  1. U.S. Court of Appeals confirms decision from August 18, 2023, to seize approximately 69,370 Bitcoins and other crypto assets obtained from the Silk Road case
  1. Coinbase secures crypto license in France, expanding further in Europe amid rift with the SEC
Coinbase secures crypto license in France, pushing deeper in Europe amid rift with the SEC
France’s AMF watchdog gave Coinbase a virtual asset service provider approval, which is effectively a green light to operate crypto services in the country.
  1. Argentina's new government gives early nod to Bitcoin, says crypto can be used in contracts
Argentina’s new government gives early nod to bitcoin, says crypto can be used in contracts
South America’s second-largest economy said people can use bitcoin when agreeing on contracts, according to new minister.
  1. Nigerian central bank lifts ban on crypto trading

https://www.reuters.com/world/africa/nigerian-central-bank-lifts-ban-crypto-trading-2023-12-23/

December 26th to December 31st:

  1. Japan seeks to exempt companies from tax on unrealized crypto gains
Japan seeks to exempt companies from tax on unrealized crypto gains: reports
Such tax would be exempt for companies that intend to hold the crypto assets for the long term, local media reported.
  1. Mt. Gox reportedly starts repaying some creditors via PayPal
Mt. Gox reportedly starts repaying some creditors via PayPal
Several users who appear to be Mt. Gox creditors said on Reddit and Telegram that they received their repayments today.
  1. MicroStrategy has acquired an additional 14,620 BTC for $615.7 million at an average price of $42,110 per Bitcoin between Nov 30 and Dec 26

https://www.sec.gov/ix?doc=/Archives/edgar/data/1050446/000119312523303488/d517550d8k.htm

  1. India’s Financial Intelligence Unit issues compliance notices to offshore crypto exchanges including Binance, Kraken
India’s Financial Intelligence Unit issues compliance notices to offshore crypto exchanges including Binance, Kraken
The exchanges named in the statement are Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex.
  1. Canadian crypto exchange Catalyx suspends trading, withdrawals following 'security breach'
Crypto Exchange Catalyx Suspends Trading, Withdrawals Following ‘Security Breach’
The Canadian exchange suffered a security break earlier this month, resulting in the loss of an unknown amount of customer funds.
  1. Vitalik Buterin shares updated 2024 roadmap for Ethereum
Vitalik Buterin shares updated 2024 roadmap for Ethereum
The outline mostly remains the same, characterizing Ethereum’s priorities as the Merge, Surge, Scourge, Verge, Purge, and Splurge.