Weekly Report (06-12 Dec. 2021) | What Happened This Week In Crypto

This Report will provide you with some important and quick news of cryptocurrencies that happened around the world.

1) AscendEX Suffers A $80 Million Loss As A Result Of The Hack Of ERC-20, BSC, And Polygon Hot Wallets

Around $60 million in tokens have been moved over the Ethereum network alone. BSC and Polygon tokens are valued $9.2 million and $8.5 million, respectively. AscendEX, a cryptocurrency trading platform, lost $77.7 million as a result of a hot wallet vulnerability that enabled hackers to access and transfer tokens housed on the Ethereum (ETH), Binance Smart Chain (BSC), and Polygon (POLY) blockchains…[continue reading]

2) Keanu Reeves Said That He Own Some Cryptocurrency

Keanu Reeves discussed HODLing crypto, NFTs, and the metaverse in a recent interview to promote The Matrix Resurrections. When asked whether he was “personally into cryptocurrencies” in a recent interview with The Verge, the actor said that “a buddy purchased some for me some time ago” and that he hasn’t done anything with it since “I haven’t had to.”…[continue reading]

3) The IMF Publishes Proposals For A Globally Standard Crypto Regulatory Framework

The International Monetary Fund (IMF) has produced a recommended framework for global cryptocurrency regulation. The IMF emphasised in a blog post that global cryptocurrency rules should try to provide a fair playing field for all stakeholders. According to the agency, the system should require complete licencing of crypto-asset service providers by appropriate regulatory bodies…[continue reading]

4) Coinbase Introduces DeFi Yield, But Not For Americans

Coinbase said on Dec 9 that it will be offering a new DeFi service for “qualified users” in over 70 countries. At the time, the DeFi yield product will be offered only on MakerDAO’s DAI stablecoin. The business announced that qualifying users would be able to receive yields on DAI straight from the Coinbase app and website…[continue reading]

5) MicroStrategy Shows No Signs Of Slowing Down As It Grabs 1,434 More Bitcoin (BTC)

MicroStrategy revealed that it had increased its Bitcoin holdings yet again, only a week after acquiring 7,002 BTC. According to the company’s most recent Form 8-K filing with the Securities and Exchange Commission, it acquired about 1,434 BTC between November 29th and December 8th…[continue reading]

6) Bitcoin Has Officially Been Able To Mine Again After China Banned Crypto Mining

Bitcoin, the most valuable cryptocurrency by market capitalization, is seeing tremendous network expansion, indicating that the Bitcoin ecosystem is on the verge of a big comeback. According to new data from cryptocurrency on-chain monitoring platform Glassnode, Bitcoin’s hashrate is just approximately 4% away from reaching an all-time high…[continue reading]