Ethereum layer 2s hold $13.5B stablecoin supply

December 20, 2024 Coin Telegraph

Ethereum layer 2s hold .5B stablecoin supply

Ethereum layer-2 networks now lock over $13.5 billion in stablecoins, driving total market capitalization to $205 billion.

Stablecoins locked onto Ethereum layer-2 networks have reached a new all-time high, showcasing rising demand for cryptocurrencies.

The stablecoin supply to all blockchains combined is dominated by Tether (USDT), USD Coin (USDC) and Ethena’s stablecoin, USDe.

As of Dec. 20, the Ethereum blockchain held $13.5 billion worth of stablecoins, according to data from Tie Terminal, a crypto data platform for institutions and Cointelegraph Markets Pro. The overall stablecoin circulation crossed $205 billion, showing the ecosystem’s growing relevance in real-world use cases.

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Metamask Launches Pilot Program for Metamask Card in the United States

December 19, 2024 Bitcoin.com

bitcoin.com

The Metamask card allows crypto holders to make everyday purchases with crypto directly from the Metamask wallet. Metamask Card Launches in the U.S. Metamask, one of the popular crypto wallets has announced the kickoff of its limited pilot program for the Metamask card in the U.S. The Metamask card allows crypto users to spend cryptocurrency […]

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‘No to CBDC, yes to Bitcoin’ — European MP calls for EU BTC reserve

December 17, 2024 Coin Telegraph

Bitcoin

The European Parliament’s Sarah Knafo said it’s time to stop “totalitarian temptations” by the European Central Bank and adopt Bitcoin.

European lawmaker Sarah Knafo called on the European Union to establish a strategic Bitcoin reserve while rejecting the proposed adoption of the “digital euro,” a central bank digital currency (CBDC) under development by the European Central Bank (ECB).

Knafo, a French magistrate and a member of the European Parliament since June, delivered a pro-Bitcoin (BTC) speech, calling on European lawmakers to launch a strategic BTC reserve.

“No to the digital euro, yes to a strategic Bitcoin reserve,” Knafo said in an X post, which included a video of her speech before the European Parliament.

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Executives flood blockchain gaming firms ahead of 2025’s AAA launches

December 17, 2024 Coin Telegraph

Adoption

Blockchain Gaming Association’s fourth annual survey showed growth in the C-suite, but other demographics appear to be slipping.

The blockchain-based gaming sector is becoming increasingly top-heavy as it moves further into the mainstream, according to data from the Blockchain Gaming Association’s fourth annual survey.

Marking the association’s largest effort to date, the 2024 survey aggregated and analyzed data provided by 623 survey respondents from the Web3 gaming industry. Those surveyed included industry professionals ranging from C-suite executives to professional e-sports players.

While much has remained the same since the annual survey began in 2021, including the notion that both trust and user experience issues are the primary factors holding adoption back, the 2024 survey indicates pivotal growth in the C-suite and an influx of talent with gaming industry experience prior.

Here’s a Potential Downside Price Target for Cardano If ADA Sees New Correction, According to Benjamin Cowen

The 2024 Santa Claus rally is about to start

December 16, 2024 Coin Telegraph

Bitcoin

There’s potential for a 2024 Santa Claus rally across the crypto markets. Historical trends, market factors and this year’s bull run could lead to significant gains.

Opinion by: Gracy Chen, CEO of Bitget

You’ve heard of the halvening and Uptober, but are you familiar with the other major calendar event when crypto is odds-on to go up? Say hello to the Santa Claus rally, bringing good tidings and cheer to traders worldwide. If all you want for Christmas is a screen-busting green candle for all your crypto bags, this is the seasonal event for you.

What’s the basis for believing in a Santa Claus rally, and is there any reason to think that 2024 will live up to previous years? Let’s examine the science behind this distinctively unscientific phenomenon.

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Early Bitcoin investor jailed for unreported crypto gains in $4M BTC sale

December 13, 2024 Coin Telegraph

Bitcoin

A Texas Bitcoin investor faces two years in prison for failing to report over $4 million in cryptocurrency gains, setting a legal precedent.

An early Bitcoin investor from Austin, Texas, became the first person criminally charged for failing to report crypto capital gains, in a case involving about $4 million worth of cryptocurrencies.

According to the United States Department of Justice (DOJ), Texas-based Bitcoin (BTC) investor Frank Richard Ahlgren III “falsely underreported the (realized) capital gains” earned from selling Bitcoin worth $3.7 million between 2017 and 2019. The DOJ said in a Dec. 12 report:

Ahlgren has invested in Bitcoin since 2011. He purchased 1,366 BTC on the crypto exchange Coinbase in 2015 when Bitcoin was trading under $500. He sold about 640 BTC in October 2017 at an average market price of $5,807.53 and reinvested the $3.7 million in real estate.

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Coinbase prepares to delist Tether’s USDT stablecoin in Europe

December 12, 2024 Coin Telegraph

Coin Telegraph

Coinbase said it will assess reenabling services for stablecoins that achieve MiCA compliance at a later date.

Cryptocurrency exchanges in Europe are preparing to delist locally noncompliant stablecoins as European crypto regulations near an enforcement deadline.

Coinbase Europe, Coinbase Germany and Coinbase Custody International will delist Tether’s USDt (USDT) and five other stablecoins on Dec. 13, Coinbase told Cointelegraph on Thursday.

“Based on the latest information, we currently expect we will have to restrict services for the following assets: USDT, PAX, PYUSD, GUSD, GYEN, and DAI,” Coinbase said, referring to the coins as assets restricted by Europe’s Markets in Crypto-Assets Regulation (MiCA).

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Binance Ranks as the Most Visited Crypto Site and 6th in Financial Services: Cloudflare Report

December 10, 2024 Bitcoin.com

Binance

According to Cloudflare’s 2024 web traffic report, Binance is the most visited cryptocurrency platform. Binance Attracted the Most Web Visits in Crypto for 2024 Binance solidified its position as a dominant force in the digital assets ecosystem in 2024. According to Cloudflare’s latest report, Binance not only retained its title as the most visited cryptocurrency […]

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Pay Me in Bitcoin: 30% of American Employees Embrace Crypto Salaries, Study Finds

December 10, 2024 Bitcoin.com

bitcoin.com

A new study by Clarify Capital shows growing interest in cryptocurrency-based compensation and loans among American workers and businesses. Bitcoin Most Preferred A new study has found that as many as 30% of American employees are open to receiving cryptocurrency as compensation. As expected, the study found Gen Z (39%) and millennials (32%) were most […]

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World ID trolls Spotify with ‘Unwrapped’ privacy meme

December 9, 2024 Coin Telegraph

artificial intelligence

World’s seemingly playful jab at Spotify comes as the firm faces scrutiny.

World, formerly known as Worldcoin, recently posted an apparent spoof of Spotify’s “Wrapped” year-end user reports, lampooning the music streaming service’s data privacy practices.

The seemingly playful jab came in the form of an image posted to X via World’s verified account with the statement, “World ID lets you & your actions stay anonymous online.”

The attached graphic featured text and imagery in the style of Spotify’s “Unwrapped” data-centric usage reports, which are tailored to individual users.

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