It’s been any other busy week within the crypto marketplace: Bitcoin tops $107,000, FTX is to start buyer repayments in early 2025, CyberKongz receives “relating to rhetoric” in Wells understand from the SEC, US lawmakers cancel vote to renominate SEC Commissioner Caroline Crenshaw, and Injective and Sonic spouse to construct first cross-chain AI agent hub.
Bitcoin tops $107,000 for the primary time
Previous this week, Bitcoin reached new heights, topping above $107,000. On the identical time, the defunct crypto trade Mt. Gox moved round 1,620 Bitcoin to an unknown pockets. The price of the Bitcoin switch stood at over $172.5 million.
The Bitcoin motion adopted a switch made two weeks in the past by way of Mt. Gox. Then, the platform moved 24,000 Bitcoin to unknown wallets. In keeping with Arkham, the bankrupt trade transferred 1,619.6 Bitcoin in two transfers: one in all 1,427.9 and the opposite of 191.7 to 2 new addresses.
Earlier than hitting $107,000, Bitcoin reached $106,000 following information that President-elect Donald Trump is thinking about plans to create a US Bitcoin strategic reserve. Traders imagine Bitcoin attaining $120,000 by way of the tip of 2024 is achievable.
FTX to start crypto repayments in early 2025
Collapsed crypto trade FTX has introduced that it is going to get started its buyer distribution in early January. Its court-approved Bankruptcy 11 chapter reorganization will likely be efficient on January 3, 2025.
FTX is to paintings with crypto custodian BitGo and crypto trade Kraken to distribute property to retail and institutional traders. In November, it was once reported that FTX was once to start out distributions by way of March 2025.
FTX collapsed in November 2022, with 5 of the highest executives jailed or sentenced to time served. This contains former CEO Sam Bankman-Fried who was once sentenced to twenty-five years in jail in March.
CyberKongz receives Wells understand from the SEC
CyberKongz, a non-fungible token (NFT) platform, gained a Wells understand from america Securities and Change Fee (SEC).
In a put up on X, CyberKongz mentioned that they’ve “been struggling in silence for the final two years, ever since we first gained touch from the SEC,” including that it had gained some “relating to rhetoric” that an ERC-20 token can’t be issued with a blockchain recreation with out being registered as a safety.
Through issuing a Wells understand, the SEC believes there could also be securities regulation violations and is making ready to do so towards the platform. Some of the problems the SEC has with CyberKongz is the “sale” of its Genesis Kongz NFTs in April 2021; on the other hand, CyberKongz mentioned this was once a freelance migration and now not a sale.
Previous this yr, crypto trade Coinbase gained a Wells understand from the SEC adopted by way of OpenSea, an NFT market, and blockchain gaming platform Immutable.
US lawmakers cancel vote to renominate SEC Commissioner Caroline Crenshaw
A US Senate vote to renominate Democrat Caroline Crenshaw for a 2d time period at america Securities and Change Fee (SEC) was once canceled this week.
The unique vote was once scheduled for December 11; on the other hand, Sherrod Brown, the Senate Banking Committee Chair, postponed it inside mins of beginning, because of problems between the Democrats and Republicans.
Brown later launched a commentary announcing that company particular pursuits are operating a “disgusting smear marketing campaign towards Caroline Crenshaw.”
But, with Congress preventing on December 20 for the vacations, Crenshaw was once now not renominated ahead of President-elect Donald Trump’s management re-enters the White Space in January.
Following the inside track of Crenshaw’s reappointment, Brian Armstrong, CEO of Coinbase, took to X to mention: “She attempted to dam the Bitcoin ETFs, and was once worse than Gensler on some problems (which I didn’t suppose was once conceivable).”
Injective and Sonic spouse to construct the primary cross-chain AI agent hub
Injective and Sonic are operating in combination to create the primary cross-chain synthetic intelligence (AI) agent platform.
The 2 crypto platforms mentioned the brand new AI agent hub will leverage Sonic’s HyperGrid era to combine Solana and Injective ecosystems. The Sensible Agent Hub may even leverage the Inter-Blockchain Communique Protocol (IBC), an open-source protocol enabling blockchain interoperability.
In keeping with Injective Labs, the AI agent hub will be offering builders the gear to create, deploy, and monetize AI brokers around the decentralized ecosystem.