Bitcoin milestone, Trump nominates new SEC chair, Solana ETFs, Cardano | Weekly Recap

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As a seasoned researcher with over two decades of experience in the ever-evolving world of finance and technology, I find myself both captivated and cautious amidst this week’s crypto news. The historic milestone of Bitcoin reaching $100,000 is undeniably impressive, but as Mt. Gox’s 24,000 BTC movement triggered selloff fears, I can’t help but recall the infamous exchange’s past troubles.

As an analyst, I’m here to share some highlights from this week:

  • Meanwhile, defunct exchange Mt. Gox moved 24,000 BTC, triggering selloff fears.
  • Shortly after, Trump’s team confirmed that venture capitalist David Sacks would lead the administration’s newly created White House artificial intelligence and crypto department.
  • Amid the uptrend, XRP’s market cap surpassed Tether (USDT) and Solana (SOL), as the altcoin secured the third spot among the largest crypto assets. 
  • As XRP cemented its position in the limelight, leading asset manager WisdomTree filed to launch an XRP ETF with the U.S. SEC, becoming the fourth firm to submit such filing. 

  • Reports confirmed that French lawmakers are mulling including tax on unrealized crypto gains. Meanwhile, Indian authorities are investigating Binance and 16 other entities for possibly evading tax payments.
  • The Czech Republic passed a law to relax its capital gains tax policy on Bitcoin held by investors for more than three years.
  • Since Elon Musk’s acquisition of X (formerly Twitter), there has been growing concern about an increase in security breaches. High-profile incidents include the compromise of the SEC’s official X account earlier this year.

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2024-12-08 23:13