{"id":43869,"date":"2024-12-22T23:11:23","date_gmt":"2024-12-22T23:11:23","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/what-happened-in-crypto-this-week-7\/"},"modified":"2024-12-22T23:11:23","modified_gmt":"2024-12-22T23:11:23","slug":"what-happened-in-crypto-this-week-7","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/what-happened-in-crypto-this-week-7\/","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: Bitcoin tops $107,000, FTX is to begin customer repayments in early 2025, CyberKongz receives \u201cconcerning rhetoric\u201d in Wells notice from the SEC, US lawmakers cancel vote to renominate SEC Commissioner Caroline Crenshaw, and Injective and Sonic partner to build first cross-chain AI agent hub.<\/p>\n

Bitcoin tops $107,000 for the first time<\/h2>\n

Earlier this week, Bitcoin<\/a> reached new heights, topping above $107,000<\/a>. At the same time, the defunct crypto exchange Mt. Gox moved around 1,620 Bitcoin to an unknown wallet. The value of the Bitcoin transfer stood at over $172.5 million.<\/p>\n

The Bitcoin movement followed a transfer made two weeks ago by Mt. Gox. Then, the platform moved 24,000 Bitcoin to unknown wallets. According to Arkham, the bankrupt exchange transferred 1,619.6 Bitcoin in two transfers: one of 1,427.9 and the other of 191.7 to two new addresses.<\/p>\n

Before hitting $107,000, Bitcoin reached $106,000<\/a> following news that President-elect Donald Trump<\/a> is considering plans to create a US Bitcoin strategic reserve. Investors believe Bitcoin reaching $120,000 by the end of 2024 is achievable.<\/p>\n

FTX to begin crypto repayments in early 2025<\/h2>\n

Collapsed crypto exchange FTX has announced that it will start its customer distribution in early January<\/a>. Its court-approved Chapter 11 bankruptcy reorganization will be effective on January 3, 2025.<\/p>\n

FTX<\/a> is to work with crypto custodian BitGo and crypto exchange Kraken to distribute assets to retail and institutional investors. In November, it was reported that FTX was to start distributions by March 2025<\/a>.<\/p>\n

FTX collapsed in November 2022, with five of the top executives jailed or sentenced to time served. This includes former CEO Sam Bankman-Fried who was sentenced to 25 years<\/a> in prison in March.<\/p>\n

CyberKongz receives Wells notice from the SEC<\/h2>\n

CyberKongz, a non-fungible token (NFT) platform, received a Wells notice from the US Securities and Exchange Commission (SEC)<\/a>.<\/p>\n

In a post on X<\/a>, CyberKongz said that they have \u201cbeen suffering in silence for the last two years, ever since we first received contact from the SEC<\/a>,\u201d adding that it had received some \u201cconcerning rhetoric\u201d that an ERC-20 token can\u2019t be issued with a blockchain game without being registered as a security.<\/p>\n

By issuing a Wells notice, the SEC believes there may be securities law violations and is preparing to take action against the platform. One of the issues the SEC has with CyberKongz is the \u201csale\u201d of its Genesis Kongz NFTs in April 2021; however, CyberKongz said this was a contract migration and not a sale.<\/p>\n

Earlier this year, crypto exchange Coinbase received a Wells notice<\/a> from the SEC followed by OpenSea<\/a>, an NFT marketplace, and blockchain gaming platform Immutable<\/a>.<\/p>\n

US lawmakers cancel vote to renominate SEC Commissioner Caroline Crenshaw<\/h2>\n

A US Senate vote to renominate Democrat Caroline Crenshaw for a second term at the US Securities and Exchange Commission (SEC) was canceled this week.<\/p>\n

The original vote was scheduled for December 11; however, Sherrod Brown, the Senate Banking Committee Chair, postponed it<\/a> within minutes of starting, due to issues between the Democrats and Republicans.<\/p>\n

Brown later released a statement<\/a> saying that corporate special interests are running a \u201cdisgusting smear campaign against Caroline Crenshaw.\u201d<\/p>\n

Yet, with Congress stopping on December 20 for the holidays, Crenshaw was not renominated before President-elect Donald Trump\u2019s administration re-enters the White House in January.<\/p>\n

Following the news of Crenshaw\u2019s reappointment, Brian Armstrong, CEO of Coinbase, took to X<\/a> to say: \u201cShe tried to block the Bitcoin ETFs, and was worse than Gensler on some issues (which I didn\u2019t think was possible).\u201d<\/p>\n

Injective and Sonic partner to build the first cross-chain AI agent hub<\/h2>\n

Injective and Sonic are working together to create the first cross-chain artificial intelligence (AI) agent platform<\/a>.<\/p>\n

The two crypto platforms said the new AI agent hub will leverage Sonic\u2019s HyperGrid technology to integrate Solana and Injective ecosystems. The Smart Agent Hub will also leverage the Inter-Blockchain Communication Protocol (IBC), an open-source protocol enabling blockchain interoperability.<\/p>\n

According to Injective Labs, the AI agent hub will offer developers the tools to create, deploy, and monetize AI agents across the decentralized ecosystem.<\/p>\n

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(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) It\u2019s been another busy week in the crypto market: Bitcoin tops $107,000, FTX is to begin customer repayments in early 2025, CyberKongz receives \u201cconcerning rhetoric\u201d in Wells notice from the SEC, US lawmakers cancel vote to renominate SEC Commissioner Caroline Crenshaw, […]<\/p>\n","protected":false},"author":3947362367,"featured_media":43870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/43869"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=43869"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/43869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/43870"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=43869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=43869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=43869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}