Weekly News Digest for Nov 27-Dec 3 | by Bitcoin.com | Dec, 2023

A weekly digest of the news that matters

Last week in the cryptocurrency market, Bitcoin and Ethereum experienced significant upward movements. Bitcoin initially dropped to $36,951 after a four-week rally but later showed strong momentum, breaking resistance and holding above $38,000. It reached a 19-month peak of $39,705 on Saturday, before surpassing $40,000 on Sunday night. Ethereum mirrored this positive trend, closing above $2,000 throughout the week and touching the $2,100 mark, before climbing above $2,200 by weeks end. Amidst these major movements, altcoins like BitTensor (TAO), ThorChain (RUNE), VERSE token, and Solana (SOL) also recorded 10% or higher gains. The mixed technical signals early in the week transitioned into a broadly bullish sentiment across the market.

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Microstrategy has increased its Bitcoin holdings to 174,530 BTC after acquiring an additional 16,130 bitcoins, spending around $5.28 billion.

A Cambridge study shows a significant reduction in Ethereums energy consumption and greenhouse gas emissions following its transition to proof-of-stake.

Standard Chartered predicts Bitcoin could reach $100,000 sooner than expected, citing factors like upcoming halving and potential US spot Bitcoin ETF approvals.

Fintech giant Circle has partnered with financial services conglomerate SBI Holdings to promote USDC usage in Japan, with SBI Shinsei Bank providing banking services for the stablecoin.

GHO stablecoin reached $0.98, boosted by liquidity and campaign initiatives, despite trading below its $1 peg since mid-July.

Alchemy Pay obtained a money services license from Iowa, joining major players in the US crypto market and expanding its licensing efforts globally.

Changpeng Zhao resigned as chairman of Binance US, following Binance.coms settlements with US entities, emphasizing Binance USs independent operations.

Coinbase CEO Brian Armstrong views the Binance settlements as a positive step for the crypto industry, emphasizing the need for regulatory clarity.

Former SEC Chairman Jay Clayton advocates for crypto regulation focusing on technology and considers token classification issues as generally straightforward.

The AI-focused cryptocurrency sector has grown by nearly $2 billion in under two weeks, led by significant gains in BitTensor (TAO) and other AI-focussed tokens.