Co-founder of Infura: MetaMask IP collection backlash blown out of proportion
Over 66% of Bitcoin’s total supply hasn’t moved in the past year, setting a record
The bear market continues to affect Bitcoin’s price, which has fallen 60% since the beginning of the year. Nonetheless, Glassnode data shows that 66% of Bitcoin’s circulating supply has not moved in his one year. This figure is the highest level of illiquid Bitcoin supply ever recorded. A previous study by Glassnode showed that 45% of the circulating supply has not moved in two years and 38% has not moved in three years. An illiquid supply often increases in bear markets as many holders hold on to bitcoin for a long period of time.
Sam Bankman-Fried cannot testify before US Congress on Dec. 13
Alameda Research and FTX CEO Sam Bankman-Fried may not be called to testify before the US Congress on December 13th. Bankman-Fried said his GameStop trading limits and Robinhood app suspension of stock trading. Three other witnesses to him are Robinhood CEO Vlad Tenev, Reddit CEO Steve Huffman, and Keith Gill, known on social media as “Roaring Kitty.” Bankman-Fried’s absence could leave gaps in Congress’ understanding of the events of January 28.
Circle and Concord end proposed business combination
Cryptocurrency companies Circle and Concord have ended a proposed business combination. The companies announced their decision in a joint statement, saying the decision was mutual and that the companies would continue to operate independently. has not been clarified.
Bybit, Swyftx join layoffs following FTX demise
Crypto exchanges Bybit and Swyftx have joined layoffs following the collapse of rival exchange FTX. Bybit has announced plans to lay off his 10% of its workforce, while Swyftx has revealed it will cut 20% of its workforce. The job cuts come in a difficult market environment for cryptocurrency exchanges where many companies are struggling to maintain their profits.
Axie surges 23.87% in 24 hours as community takes first steps towards decentralization
The Axie Infinity community has taken its first step towards decentralization and the Axie Infinity Token (AXS) surged 23.87% in 24 hours. The community has been working on a decentralization plan for some time, and recent price spikes suggest the plan is gaining momentum. You can buy, sell and breed virtual creatures called Axies.
Nexo pulls out of US, citing regulatory uncertainty
Nexo has announced that it will not serve US customers, citing “regulatory uncertainty”. The company, which offers a range of cryptocurrency-backed lending and borrowing products, said it has decided to focus on “the most promising markets” to continue growing its business. This decision is likely to disappoint many of Nexo’s US-based customers, who should look elsewhere for similar services.
Declining Outflow Across Short BTC Products Shows Positive Sentiment
Outflows from short bitcoin products have declined in recent weeks, indicating positive sentiment among traders. Outflows from commodities have been steadily declining since the beginning of November. This suggests that fewer traders are betting on the price of Bitcoin, indicating that they are more bullish about the future of the cryptocurrency.
Stablecoin provider Circle aborts listing plans
Stablecoin provider Circle has announced that it has closed plans to go public. The company originally planned to merge with a special purpose acquisition company (SPAC) to list its shares, but has now decided to abandon that plan. The decision comes as the company faces increasing competition in the stablecoin space, with many other companies offering similar products.
Gemini has formed an ad-hoc committee to advocate solutions to get users amid withdrawal suspension
Gemini has formed a special committee to advocate solutions for users of Earn products who have been suspended following the suspension of withdrawals by the New York State Department of Financial Services (NYDFS). This committee is made up of industry luminaries and will work to find solutions for users who have lost access to their funds since the suspension went into effect. The suspension has become a point of contention in the cryptocurrency community, with many calling on his NYDFS to lift the restrictions.
Over the past 24 hours, Bitcoin (BTC) rose +0.33% to trade at $17,001 while Ethereum (ETH) rose +1.11% to trade at $1,288.
Biggest Gainers (24 hours)
Biggest Loser (24h)
CryptoSlate Wrapped Daily uses AI to generate summaries of CryptoSlate articles.