Hodler’s Digest, Nov. 12-18 – Cointelegraph Magazine Hodler’s Digest, Nov. 12-18 – Cointelegraph Magazine
Top Stories This Week
Here are the key highlights from the cryptocurrency world this week.
Sam Altman ousted from OpenAI, CTO Mira Murati named interim CEO
OpenAI removed founder Sam Altman from his CEO position on Nov. 17. Mira Murati is now serving as interim CEO after a “deliberative review process” by the board of directors. The organization confirmed that Altman’s miscommunication hindered the board’s responsibility, leading to his removal.
BlackRock files S-1 form for spot Ether ETF with SEC
BlackRock, the world’s largest asset manager, filed for a spot Ether exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). The iShares Ethereum Trust, as it’s named, aims to mirror the performance of the price of Ether. This move follows BlackRock’s earlier registration of the iShares Ethereum Trust with Delaware’s Division of Corporations, as well as its filing for a spot Bitcoin ETF application.
Australia to impose capital gains tax on wrapped cryptocurrency tokens
The Australian Taxation Office stated that individuals wrapping and unwrapping tokens could be subject to capital gains tax. Depending on the recorded gains or losses, the transfer of crypto assets to controlled or pre-balanced addresses will trigger a taxable CGT event. This guidance also extends the proposed approach to taxing DeFi liquidity pool users, providers, interest, and rewards.
FTX Foundation staffer fights for $275K bonus promised by SBF
An FTX Foundation employee, Ross Rheingans-Yoo, has filed a claim for the outstanding $275,000 of a promised bonus. Controversy arose when only $375,000 of the $650,000 bonus was paid, with the remainder allegedly owed due to FTX’s bankruptcy. The employee’s legal battle is ongoing, managed by a Delaware bankruptcy judge.
WisdomTree amends S-1 form spot Bitcoin ETF filing as crypto awaits SEC decisions
WisdomTree has updated its spot Bitcoin ETF application, proposing a rule change to list and trade shares of the WisdomTree Bitcoin Trust. The Trust’s ETF will trade under the ticker symbol BTCW, with Coinbase Custody Trust acting as the holding custodian. This move arrives amidst anticipated decisions from the U.S. SEC on several cryptocurrency-related applications.
Winners and Losers
The cryptocurrency market shows Bitcoin (BTC) at $36,419, Ether (ETH) at $1,946, and XRP at $0.61 with a total market cap of $1.38 trillion, according to CoinMarketCap’s weekly data.
- Celestia (TIA) at 103.39%
- yearn.finance (YFI) at 88.04%
- THORChain (RUNE) at 54.38%
Top losers include Gas (GAS) at -64.85%, FTX Token (FTT) at -35.17%, and Neo (NEO) at -20.27%. For comprehensive crypto price analysis, check out Cointelegraph’s market coverage.
Most Memorable Quotations
“Education and utility-based projects where there is real utility for usage is how we can get regulators onboard.”
– Navin Gupta, managing director of South Asia, Middle East, and North Africa at Ripple
“We believe derivatives will foster additional liquidity and hedging opportunities in crypto and represent the next critical step in this market’s continued growth.”
– John Palmer, president of Cboe Digital
Prediction of the week
Bitcoin traders’ BTC price dip targets now include $30.9K bottom
Recent analyses indicate a potential dip in Bitcoin’s price, with targets set as low as $30.9K. Market participants also hope to see a retest of the $33K level due to a lack of breakout beyond 18-month highs. Bitcoin’s price and order book liquidity dynamics were closely monitored as the market navigated this week’s uncertainty.
FUD of the Week
Cybersecurity team claims up to $2.1B in crypto stored in old wallets is at risk
Cybersecurity company Unciphered identified a vulnerability impacting millions of crypto wallets generated from 2011 to 2015. This vulnerability, termed “Randstorm”, was discovered during the retrieval of a Bitcoin wallet and could potentially affect around $2.1 billion in crypto assets stored in these older wallets.
Swan Bitcoin to terminate customer accounts that use crypto-mixing services
Swan Bitcoin informed its customers of its decision to terminate accounts found using crypto-mixing services, in adherence to the regulatory requirements set by its partner banks. This move follows the proposed rule by the United States Financial Crimes Enforcement Network (FinCEN) to introduce new responsibilities on firms processing transactions from mixing services.
ENS developers urge Unstoppable Domains to drop patents or face lawsuit
Nick Johnson, the founder of Ethereum Name Service (ENS), has urged Unstoppable Domains to drop a recently awarded patent due to its similarities with innovations developed by ENS. Unstoppable Domains’ founder, Matthew Gould, responded, emphasizing the existence of multiple naming systems.
Top Magazine Pieces of the Week
Our top magazine articles of the week include:
- I spent a week working in VR. It was mostly terrible, but does have potential.
- Breaking into Liberland: Dodging guards with inner-tubes, decoys, and diplomats.
- No civil protection for crypto in China, $300K to list coins in Hong Kong? Asia Express.
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