Crypto Daily Roundup 26 Dec: Crypto Market Stuck in Sideways Motion

In the previous 24 hours, the value of cryptocurrencies has risen.

TOP 5 Gainers Coins

Crypto News Key Highlights:

• The SEC sets a December 29 deadline for final amendments to spot Bitcoin ETF filings, crucial for inclusion in the "first wave" of potential approvals. Key players like BlackRock, Grayscale, ARK, and 21 Shares attended a high-level meeting on December 21. Final decisions for spot ETF applications are expected in January 2024, with Grayscale's conversion proposal due on January 25 following a court ruling.

• Binance expands its offerings with new trading pairs for Dogecoin, Cardano, and Chainlink, among others. The move aims to enhance liquidity and diversification for users. This follows Binance's recent removal of certain spot trading pairs, with no specific reasons provided.

• Coinbase refutes U.S. Senator Elizabeth Warren's claims that it hired national security veterans to oppose cryptocurrency legislation, asserting the accusations are unfounded and a misrepresentation of their intentions. Coinbase emphasizes its commitment to responsible legislation and offers to provide a comprehensive briefing on its efforts.

• Crypto industry leaders, including Binance, face ongoing legal battles in the U.S. and beyond. Despite Binance's record $4.3 billion settlement, the SEC continues its lawsuit, alleging securities law violations. The industry anticipates continued legal scrutiny in 2024.

• FTX and its debtors have reached a settlement with founder Samuel Bankman-Fried to address claims related to the Embed acquisition. This agreement, filed in bankruptcy court, aims to recover over $240 million paid for Embed and resolve specific aspects of the bankruptcy case.

• Telcoin experienced targeted attacks on its app resulting in a 65% price drop for Telcoin ($TEL) and an estimated $1.3 million loss. Telcoin temporarily froze its app to investigate and implement measures to address the exploit, assuring users of ongoing efforts to restore normalcy.

• The UAE and China are strengthening cooperation to increase trade, conducting bilateral investments in local currencies like the Chinese yuan. This move is expected to shift global power dynamics away from Western dominance, aligning with BRICS de-dollarization plans and expanding influence in the Pacific Islands and Africa.

• Cryptocurrency legislation confronts hurdles in 2024 amid SEC Chair Gensler's opposition and election season distractions. Key bills on stablecoins and market structure face uncertain Senate paths, with a 60% chance for stablecoin regulations and a 25% likelihood for comprehensive crypto market regulation.

Also read - 24 Crypto Update,25 Dec: Crypto Prices Hold Steady in Low-Volume Limbo