Week after week, the crypto industry continues to innovate and redefine the boundaries of finance and technology with boldness and creativity.
In this weekly roundup, we delve into the most notable news of the past week, from El Salvador’s pioneering move with the world’s first Bitcoin bonds, to Donald Trump’s controversial new NFT collection, and the promising news about the approval of Bitcoin’s Spot ETF by the SEC, as well as the security incident at Ledger, and current trends around Ethereum and Solana.
El Salvador Launches the World’s First Bitcoin Bonds
El Salvador’s Digital Assets Commission (CNAD) approved the issuance of the world’s first Bitcoin bonds. This initiative, announced by President Nayib Bukele at Bitfinex. This regulatory advance marks a turning point in El Salvador’s financial policy regarding Bitcoin.
Although the project was delayed from its original planned launch date of March 2022, it regained momentum with the introduction of a Bitcoin and digital assets bill in November 2022. After massive support and its adoption in January 2023, this law paved the way for the realization of this innovative financial vision for El Salvador.
Donald Trump and His “Mugshot” NFT Collection: Capitalizing on Controversy
Donald Trump launched his third NFT collection titled “Mugshot.” This digital trading card series is inspired by his arrest in August 2023 on election fraud charges. The “Mugshot” collection is seen as Trump’s attempt to capitalize on his controversial situation while showing a defiant attitude towards his legal problems. This launch follows the success of their two previous NFT collections, which quickly sold out.
Although it is too early to judge the commercial success of this collection, it already represents a notable phenomenon in the cryptographic and political spheres.
SEC Plans to Approve Bitcoin Spot ETFs in January
Gary Gensler, chairman of the United States Securities and Exchange Commission (SEC), revealed during an interview with CNBC that the agency plans to approve Bitcoin spot exchange-traded funds (ETFs) starting in January 2023. Gensler said recent court decisions from the District of Columbia have caused the SEC to reconsider its position.
The SEC’s approval of Bitcoin spot ETFs could pave the way for a massive influx of institutional investments into Bitcoin. Until now, many institutions have been hesitant to enter the crypto space due to the lack of regulatory clarity and the challenges of owning Bitcoin directly. Regulated and easily accessible Bitcoin spot ETFs could radically transform the landscape, attracting significant capital from pension funds, insurance companies and traditional wealth managers.
Hacking the Ledger
Ledger was recently the victim of a major security incident. A former employee, caught in a phishing attack, unintentionally compromised his NPMJS account, allowing a malicious version of the Ledger Connect Kit to be launched. Versions 1.1.5 to 1.1.7 of this kit were infected, turning a trusted tool into a trap for users. Fortunately, Ledger teams, with the help of WalletConnect, responded quickly and efficiently. In less than 40 minutes, a fix was implemented to stop the exploit.
Ethereum and Solana in Crescendo
Although the price of Ethereum has remained stable recently, it is attracting more and more attention from institutional investors. According to an analysis by CryptoQuant, institutional holdings of Ether saw a significant increase in November, reflecting investors’ growing confidence in the long-term value of Ethereum.
Solana (SOL) recently made a notable breakthrough. Following the announcement that Solana Mobile’s Saga phone was out of stock in the United States, SOL’s price jumped 6%, surpassing the $75 threshold, which reflects the strong market demand for innovative cryptocurrency solutions.
By Audy Castaneda
