This Week In Crypto | 20th December 2022

by | Dec 20, 2022 | News | 2 comments

Hello everyone!!

Welcome to another episode of crypto weekly, where you get updated on the significant events shaking the cryptoverse over the past few days.

On today’s episode of crypto stories and happenings, we bring you the following:

  • FTX founder Bankman-Fried agrees to extradition to the US
  • Nigeria Moves to Recognize Crypto Usage and Adoption
  • Isreal to Seize a Considerable Amount of Crypto Wallets

Let’s jump right in;



1. Donald Trump NFT Collection Sells Out amid Price Surge

Former U.S. President Donald Trump’s NFT card collection sold out early Friday, the day after it was released.

According to data from Opensea, at the time of writing, the collection’s trading volume is 900 ETH, or about $1.08 million.

Its floor price is about 0.19 ETH, or about $230, more than double the original price of $99.

Some tokens are selling for much higher prices.

The one-of-ones, the rarest of the NFTs, which comprise 2.4% of the 45,000 unit collection (roughly 1,000), are selling for as much as 6 ETH at the time of writing.

These cards consist of images of the 45th president of the U. S. A. standing in front of the Statue of Liberty holding a torch, which is currently listed at 20 ETH, or about $24,000.

2. Nigeria Moves to Recognize Crypto Usage and Adoption

The Nigerian government has stated intentions to pass a law that will recognize the usage of bitcoin (BTC) and other crypto assets to keep up to date with “global economic innovations” and “global practices”.

According to the Punch, “The proposed law will also define the regulatory roles of the Central Bank of Nigeria and the SEC [Securities and Exchange Commission] regarding digital currency,”

This was citing the Chairman of the House of Representatives Committee on Capital Markets and Institutions, Babangida Ibrahim.

According to the article, if the Investments and Securities Act 2007 (Amendment) Bill passed into law, the Securities and Exchange Commission would be able to recognize bitcoin and other digital assets as capital for investment.

The proposed bill would also define the SEC’s and CBN’s regulatory responsibilities for digital currency.

3. Isreal to Seize a Considerable Amount of Crypto Wallets

A Tel Aviv court issued a ruling last week allowing the government of Isreal

to seize all the crypto in over 150 digital wallets that it had blacklisted for allegedly funding terrorist groups.

Israeli Defense Minister Benny Gantz said that, since the ruling,

the authorities seized $33,500 from digital wallets linked to the militant group Hamas.

4. FTX founder Bankman-Fried Agrees to Extradition to the US

Sam Bankman-Fried may be ready to come to the United States to face criminal charges related to the collapse of cryptocurrency exchange FTX following a chaotic court appearance in the Bahamas.

A lawyer for Bankman-Fried has been quoted as saying Monday the FTX founder has agreed to be extradited to the United States.

A court hearing was stopped earlier in the day when his attorneys said it was premature for him to stand before the court.

Bahamian authorities arrested Bankman-Fried last Monday at the request of the US government.

US prosecutors allege he played a central role in the rapid collapse of FTX and hid its problems from the public and investors.

The Securities and Exchange Commission said Bankman-Fried illegally used investors’ money to buy real estate for himself and his family.

The 30-year-old could potentially spend the rest of his life in jail.

5. Binance.US set to acquire Voyager Digital assets for $1B

According to a new press release published on Dec. 19, cryptocurrency exchange Binance.US will acquire assets of bankrupt crypto lender Voyager Digital for $1.022 billion.

Previously, FTX US was the largest bidder for the firm’s assets, with an offer of $1.4 billion.

The $1.022-billion bid consists of the fair market value of Voyager’s cryptocurrency portfolio at a to-be-determined date in the future, along with an additional consideration equal to $20 million of incremental value.


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Conclusion

Bitcoin is currently trading bearishly on December 20, having breached a narrow range of $16,550 to $16,800 and falling to the 16,300 level.

However, Bitcoin has returned to the same trading range as before.

Similarly, the overall cryptocurrency market is behaving sluggishly, possibly due to the upcoming holiday trading sessions.

What does the future hold for BTC?

HODL On!

2 Comments

  1. Kpako

    Hello admin.
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    I’m building a project with a tight budget so it’s really important for me to find the easiest way to approach promotions and gain traction.

    I’m not building a Ponzi project, I’m only intrigued as to why Ponzi schemes get more attention than real utility projects

    Reply
    • Chiamaka Atueyi

      Hello Kpako, congratulations on this significant landmark you are making.
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      Reply

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ABOUT ME

Emmanuel Ademakin
Crypto/Stock market enthusiast | FPL addict | I am a 500 level student of Electronic/Computer Engineering at the University of PortHarcourt.