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<p>Week after week, the crypto sector continues to innovate and boldly redefine the boundaries of finance and technology with creativity. In this weekly recap, we will explore the most prominent news from the past week, from Bitcoin’s rise to the new troubles at Binance.</p>
<h2 id="h-bitcoin-crosses-a-new-threshold-over-50-million-addresses-filled-with-btc">Bitcoin crosses a new threshold: Over 50 million addresses filled with BTC</h2>
<p>Bitcoin has just crossed a remarkable milestone<a href="https://www.cointribune.com/en/bitcoin-bursts-all-records-again-over-50-million-wealthy-btc-addresses/" target="_blank" rel="noopener noreferrer nofollow">, with more than 50 million addresses holding a non-zero balance</a>. This notable increase doubles the figures recorded in 2017 and demonstrates a growing interest in this cryptocurrency. Despite the pessimistic predictions of some crypto-skeptics, Bitcoin continues to gain popularity and value. The number of addresses belonging to the “Plankton” category, that is, those containing at least 0.01 BTC. This sudden increase, with about 1.6 million new addresses in just 30 days, reflects a trend of accumulation among small Bitcoin holders. In November 2017, there were 25 million of these wallets, which is half the current figure!</p>
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<h2 id="cristiano-ronaldo-in-legal-turmoil-over-his-nfts-on-binance">Cristiano Ronaldo in legal turmoil over his NFTs on Binance</h2>
<p>Cristiano Ronaldo, the football superstar, is currently facing a class-action lawsuit in the United States.<a href="https://www.cointribune.com/en/cristiano-ronaldo-faces-class-action-lawsuit-for-binance-nfts/" target="_blank" rel="noopener noreferrer nofollow"> He is accused of promoting unregistered securities through Binance</a>. A year ago, Ronaldo had launched his first NFT collection on Binance. The complaint filed in Florida points out that Ronaldo’s promotions have prompted his followers to use Binance for transactions involving unregistered securities, including Binance’s BNB and its crypto yield programs. It also highlights an alleged failure by Ronaldo to disclose his financial ties with Binance, in violation of SEC guidelines. This omission could have led investors to engage in risky crypto transactions without a proper understanding of the financial implications.</p>
<h2 id="binance-in-the-sec-s-crosshairs-allegations-of-fraud-similar-to-ftx">Binance in the SEC’s crosshairs: Allegations of fraud similar to FTX</h2>
<p>Binance is not done with its troubles. <a href="https://www.cointribune.com/en/crypto-binance-bankruptcy-sec-accuses-cz-of-imitating-ftx/" target="_blank" rel="noopener noreferrer nofollow">The exchange is suspected of fraud similar to the one that shook FTX.</a> After the recent agreement between the platform and the US Department of Justice over a money laundering case, it’s the SEC’s turn to escalate its investigations against the exchange. The American regulator suspects Changpeng Zhao, the founder of Binance, of having established fraudulent mechanisms, including backdoors that allow control of certain assets without user knowledge, similar to what was revealed at FTX. If these allegations prove to be founded, they could deal a severe blow to Binance’s already shaken credibility.</p>
<h2 id="shiba-inu-and-shibarium-a-record-ascent">Shiba Inu and Shibarium: A record ascent!</h2>
<p>Shibarium, Ethereum’s blockchain layer 2 dedicated to Shiba Inu, recently set a new transaction record, marking a significant milestone in its development. After an initially less-than-stellar launch in August, Shibarium has progressively gained popularity. In September, the platform saw more than 1.25 million crypto wallet addresses. Recently, Shibarium reached a historic peak with over 5.1 million transactions in a single day, and a total of over 12 million transactions on December 1st. This momentum could allow Shibarium to stand out against its competitors in the field of second-layer solutions. In terms of impact on the associated cryptocurrencies, Bone ShibaSwap (BONE), Shibarium’s native cryptocurrency, experienced a significant increase of 15.64% in 24 hours, while SHIB, the popular memecoin, also registered a 3% increase.</p>
<h2 id="microstrategy-massively-strengthens-its-bitcoin-position">MicroStrategy massively strengthens its Bitcoin position</h2>
<p>MicroStrategy, already one of the largest Bitcoin (BTC) holders in the world, has just made another impressive crypto investment. The company has acquired an additional 16,130 bitcoins at an investment of approximately $593.3 million, given the unit price of BTC at $37,898. This acquisition significantly strengthens MicroStrategy’s position in the Bitcoin market, bringing its total portfolio to 174,530 BTC, with a global value of over $6 billion at the current market price. Despite the volatility and the timid movements of BTC over the year, MicroStrategy seems convinced of its bullish potential and aligns its strategy with the projections of experts who anticipate a significant increase in the price of Bitcoin in the coming years.</p>
<h2 id="argentina-rejects-brics-invitation-turns-to-the-usa-and-crypto">Argentina rejects BRICS invitation, turns to the USA and crypto</h2>
<p>Under the direction of Javier Milei, Argentina has made a significant geopolitical decision by declining the invitation to join the BRICS economic bloc. The announcement by Diana Mondino, the future foreign minister, marks a decisive turn in the country’s foreign policy. Argentina chooses to align itself more with the United States, with plans to dollarize its economy, while maintaining trade relations with BRICS members, including China and Brazil. Concurrently, Argentina gives high priority to Bitcoin and other cryptos to stabilize its economy. Javier Milei is considering eliminating the central bank and promoting an alternative financial system, including the use of cryptocurrencies.</p>
<h2 id="ripple-sec-case-towards-a-potential-settlement">Ripple-SEC Case: Towards a Potential Settlement?</h2>
<p>The lengthy legal battle between Ripple and the SEC, focusing on the status of the XRP token, might soon come to an end. After three years of conflict and several partial victories for Ripple, <a href="https://www.cointribune.com/en/ripple-vs-sec-case-both-parties-in-talks/" target="_blank" rel="noopener noreferrer nofollow">the court has ordered both parties to consider a settlement.</a> Several meetings have been held to this effect, including a recent closed-door session, to discuss the terms of this potential settlement. The topics discussed at this meeting include the institution and the settlement of administrative procedures, injunctive actions, as well as the resolution of litigation claims. The SEC had initially asked Ripple to pay a fine of $770 million, a sum Ripple has contested. Legal experts, such as pro XRP lawyer John Deaton, suggest that Ripple might negotiate this amount downward, estimating that a settlement under $20 million would be a total victory for Ripple. Others, like attorney Jeremy Hogan, anticipate that the settlement amount could be reduced to less than $100 million. Analysts agree that Ripple and the SEC might reach a resolution by July 2024.</p>

Weekly Recap: Bitcoin, Binance, Shiba, XRP… Everything You Shouldn’t Have Missed!

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