{"id":42885,"date":"2024-12-08T16:47:55","date_gmt":"2024-12-08T16:47:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/what-happened-in-crypto-this-week-6\/"},"modified":"2024-12-08T16:47:55","modified_gmt":"2024-12-08T16:47:55","slug":"what-happened-in-crypto-this-week-6","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/what-happened-in-crypto-this-week-6\/","title":{"rendered":"What happened in crypto this week"},"content":{"rendered":"

(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b>
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It\u2019s been another busy week in the crypto market: Virgin Voyages accepts Bitcoin, Donald Trump selects Paul Atkins as next US SEC chair, Coinbase won\u2019t work with anti-crypto law firms, Michael Saylor urges Microsoft to accept Bitcoin, and Bitcoin hits over $100,000 for the first time.<\/span><\/p>\n

Let\u2019s look at these and recap what happened this week in crypto.<\/span><\/p>\n

Virgin Voyages accepts Bitcoin<\/span><\/h2>\n

Sir Richard Branson\u2019s cruise line, Virgin Voyages, now <\/span>accepts Bitcoin as a payment option<\/span><\/a> for bookings.<\/span><\/p>\n

In an <\/span>announcement<\/span><\/a>, Virgin Voyages said passengers can use <\/span>Bitcoin<\/span><\/a> to pay for cruises across its fleet, including its highly anticipated Annual Pass. Virgin Voyages\u2019 Annual Pass, which provides various exclusive benefits to frequent travelers, is also the first cruise product to accept cryptocurrency payments.<\/span><\/p>\n

The company\u2019s move comes as the crypto industry experiences heightened interest from retail and institutional investors, pushing prices to all-time highs. Virgin Voyages is also hoping to attract younger, tech-savvy travelers and digital asset enthusiasts who increasingly use crypto in their everyday lives.<\/span><\/p>\n

Donald Trump selects Paul Atkins as next US SEC chair<\/span><\/h2>\n

US President-elect <\/span>Donald Trump<\/span><\/a> has <\/span>nominated pro-crypto Paul Atkins<\/span><\/a> to become the next chair of the US Securities and Exchange Commission (SEC).<\/span><\/p>\n

Gary Gensler<\/span><\/a>, the current SEC chair, will <\/span>step down on January 20<\/span><\/a> when Trump re-enters the White House. News of Atkins filling the role marks a significant step in fulfilling Trump\u2019s campaign promises to bring regulatory clarity to the crypto industry.<\/span><\/p>\n

Atkins, who served as an SEC commissioner under President George W. Bush, has been an outspoken supporter of the crypto industry. The selection of Atkins signals a strong push toward crypto-friendly regulations, something the industry has been lacking under Gensler\u2019s leadership.<\/span><\/p>\n

Coinbase won\u2019t work with anti-crypto law firms<\/span><\/h2>\n

Brian Armstrong, CEO of <\/span>Coinbase<\/span><\/a>, has said the <\/span>crypto exchange won\u2019t work with law firms<\/span><\/a> if they hire people who worked against the crypto industry during their time in government.<\/span><\/p>\n

In a post on <\/span>X<\/span><\/a>, Armstrong said it was an \u201cethics violation\u201d to \u201ctry and unlawfully kill an industry while refusing to publish clear rules.\u201d<\/span><\/p>\n

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We’ve let all the law firms we work with know, that if they hire anyone who committed these bad deeds in the (soon to be) prior administration, we will no longer be a client of theirs.<\/p>\n

Senior partners at these law firms seem unaware of the crypto industry’s position on this.\u2026 https:\/\/t.co\/k8R6NtfTV1<\/a> pic.twitter.com\/RT0k408i9f<\/a><\/p>\n

\u2014 Brian Armstrong (@brian_armstrong) December 3, 2024<\/a><\/p>\n<\/blockquote>\n

Armstrong made his comments after Milbank, an international law firm, <\/span>recently hired<\/span><\/a> Gurbir S. Grewal<\/span><\/a> as a partner in its New York office\u2019s litigation and arbitration practice. Before, Grewal was the US Securities and Exchange Commission\u2019s (SEC) enforcement head.<\/span><\/p>\n

As director of the SEC\u2019s enforcement division, Grewal was responsible for overseeing investigations, enforcement action, and litigation conducted by the SEC. During his time at the SEC, the agency brought over 100 enforcement actions targeting non-compliance in the crypto space.<\/span><\/p>\n

Armstrong added: \u201cI don\u2019t believe in permanently cancelling people, but we as an industry should not be putting money in their pocket after the abuse.\u201d<\/span><\/p>\n

Michael Saylor urges Microsoft to accept Bitcoin<\/span><\/h2>\n

The CEO of <\/span>MicroStrategy<\/span><\/a> has told Microsoft that Bitcoin is the best asset a company should own, claiming it represents the \u201cgreatest digital transformation of the 21st century.\u201d<\/span><\/p>\n

In a three-minute video on <\/span>X<\/span><\/a>, Saylor tagged Satya Nadella, Microsoft\u2019s chair and CEO, and its board of directors, saying:<\/span><\/p>\n

\u201cMicrosoft can\u2019t afford to miss the next technology wave, and Bitcoin is the next wave. Bitcoin represents the greatest digital transformation of the 21st century; it represents digital capital.\u201d<\/span><\/p>\n

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My 3-minute presentation to the $MSFT<\/a> Board of Directors and @SatyaNadella<\/a>, articulating why the company should do the right thing and adopt #Bitcoin<\/a>. pic.twitter.com\/aHp91V9Slz<\/a><\/p>\n

\u2014 Michael Saylor\u26a1\ufe0f (@saylor) December 1, 2024<\/a><\/p>\n<\/blockquote>\n

Saylor<\/span><\/a> added that if Microsoft wants to outperform, it\u2019s going to \u201cneed Bitcoin,\u201d adding:<\/span><\/p>\n

\u201cYou\u2019ve surrendered hundreds of billions of dollars of capital over the past five years, and you\u2019ve just amplified the risks that your own shareholders face. If you want to escape that vicious cycle, you\u2019re going to need an asset without counterparty risk.\u201d<\/span><\/p>\n

In Saylor\u2019s opinion, that lies with Bitcoin.<\/span><\/p>\n

Bitcoin hits over $100,000 for the first time<\/span><\/h2>\n

On December 5, Bitcoin reached the <\/span>psychological level of $100,000 for the first time<\/span><\/a>, continuing its bull run since the beginning of November.<\/span><\/p>\n

The last time it got within touching distance of the landmark level was on November 22 when it topped more than $99,000. Data from CoinMarketCap showed it reached a high of $103,500.<\/span><\/p>\n

Factors pushing Bitcoin to new heights included President-elect Donald Trump nominating pro-crypto Paul Atkins as the next US SEC chair.<\/span><\/p>\n

At the same time, <\/span>Ethereum broke past $3,900<\/span><\/a>. Crypto analyst Miles Deutscher says Ethereum will lead utility coins up. He also sees Bitcoin\u2019s rally as great news for altcoins.<\/span><\/p>\n

\u201cThe higher #Bitcoin goes, the bigger the altcoin run will be,\u201d the analyst <\/span>noted<\/span><\/a>.<\/span><\/p>\n

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