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COIN360 6 minutes reading from Bitcoin

Bitcoin Price Spikes Above $17,200, Market Starts Week in Green

BTC and the broader crypto market started a new week in green.

But is it really a "sign of relief" given that the latest jobs report was still strong, and the possible collapse of big crypto firms remained a concern?

CryptoNews in @coin360com Daily Digest:

2/ BTC spiked above 17,200 in the early hours of Monday, reaching its highest level since Nov. 11 before pulling back to where it had been over the weekend with a 0.2% increase.

Short-term volatility is expected on Dec. 8-9 due to U.S. PPI release & Initial Jobless Claims.

3/ After reaching 1,300, ETH is returning to where it was on Sunday with a 0.1% increase in the past 24h. @litecoin LTC outperformed others in the top 20 with a 6.37% uptick.

Top gainers: AXS CRO SNX Top losers: TON ETHW TWT

More details:

Cryptocurrency Prices Heatmap, Market Cap, Charts & Widget – COIN360

4/ @GodsUnchained (+0.64%) topped the NFT volume leaderboard in dollar terms, but it’s not the biggest winner by volume growth.

Best performers by volume growth in the top 10: @r3mr3mr3m (+610.33%) @BoredApeYC (+189.85%) @RTFKT (+176.76%)

NFT Heatmap – Coin360

5/ @SBF_FTX publicly suggested that he might not appear in the upcoming U.S. House committee’s hearing to testify on the collapse of @FTX_Official

There have been speculations that SBF could have donated as much as 1B to Democrats.

FTX Founder Sam Bankman-Fried Publicly Refuses to Testify in US House Committee – Here’s What Happened

6/ @genesistrading customers currently account for some 1.8B of loans, and the number is likely to keep growing.

This includes a group of customers using @gemini Earn, who were owed 900M as Genesis lending unit halted customer withdrawals on Nov. 16.

Genesis Creditor Groups' Loans Amount to 1.8B and Counting: Sources

7/ @Bybit_Official @SwyftxAU are the latest victims of the spreading crypto contagion.

Bybit CEO claimed that the layoff affected 30% of the company’s staff as "we are entering into an even colder winter." Swyft cut 90 members (35% of the workforce).

Bybit, Swyftx Join List of Crypto Firms Reducing Workforce - Decrypt

8/ @WeAreSEBA formed a partnership with @HashKeyGroup to accelerate the institutional adoption of digital assets in Hong Kong and Switzerland.

They will develop solutions for institutional investors seeking to dive into the crypto ecosystem.

SEBA Bank partners with HashKey for institutional crypto adoption

9/ @circle and Concord announced the termination of their special purpose acquisition company agreement as the stablecoin issuer "didn't complete SEC qualification in time."

Circle's Merger With SPAC Concord Breaks Down - Ethereum World News

10/ @kucoincom announce engagement with the international audit, tax, and advisory firm Mazars Group for PoR verification procedures.

Mazars aims to provide information showing KuCoin's reserves and customer liability.

KuCoin announces third-party PoR verification procedures

11/ @ledgerx is for sale, with @blockchain @gemini & @bitpanda among those interested in acquiring the firm.

LedgerX is one of the few solvent entities remaining in the FTX group of companies.

LedgerX for sale, with interest from Blockchain.com, Gemini, others: Bloomberg

12/ @OrthoTrading has defaulted on eight loans totaling 36M on @maplefinance

representing about 30% of active loans across the entire protocol.

Maple severed ties with Orthogonal Trading, removed it as a borrower & removed @orthocredit as a delegate.

Orthogonal Trading defaults on 36 million of loans on Maple Finance

13/ @AxieInfinity shared that a group of over 700 invested and influential community members has come together for its impending decentralization.

This helped drove AXS price up, making it the biggest winner among the top 100 cryptos today.

Metaverse Token Axie Infinity (AXS) Suddenly Pumps 25%

14/ @binary_x came into many discussions over the weekend due to the massive price drop.

BNX tanked 80% following rumors of devs selling the tokens, but they denied it and announced a buy-back program with DAO voting to decide on the solution.

BinaryX—A Letter to Our Community

15/ Other news:

Former Alameda CEO sighted in NYC; crypto community erupts with speculation:

El Salvador President disses Bloomberg over Bitcoin experiment criticisms:

Former Alameda CEO Sighted in NYC; Crypto Community Erupts With Speculation
El Salvador President Disses Bloomberg Over Bitcoin Experiment Criticisms

16/ Chinese court says NFTs are virtual property protected by law:

Pakistan launches new laws to expedite CBDC launch by 2025:

@Aaveaave social media protocol @LensProtocol acquires NFT mobile game @Sonar

Chinese court says NFTs are virtual property protected by law
Pakistan launches new laws to expedite CBDC launch by 2025
Aave’s Social Media Protocol Lens Acquires NFT Mobile Game Sonar

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