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<p>This week, the global crypto market soared, surpassing $1.55 trillion in total market capitalization on Dec. 5. Bitcoin (BTC) led the charge with a remarkable 14.5% weekly gain, reaching its highest level in 19 months.</p><p>BTC is now the world’s ninth-largest tradable asset, surpassing Meta’s $814 billion capitalization. As the crypto frenzy continued, Salvadoran President Nayib Bukele shared that the country&#39;s Bitcoin investments stand at $131 million, with a net profit of $3.6 million. He emphasizes a long-term strategy, unfazed by future price fluctuations.</p><p>What are the top news stories you might have missed this week?</p><p>Let&#39;s dive in!</p><p>For transparent and decentralized crypto trading and to list your crypto token for free, don’t forget to <a href="https://melega.finance/" rel="noopener noreferrer nofollow">visit our website</a> and follow Melega Finance (<a href="https://twitter.com/melegadex" rel="noopener noreferrer nofollow">&#64;melegadex</a>) on Twitter for more on all things cryptocurrency.</p><h2 id="header-0">TOP CRYPTO NEWS RECAP (DECEMBER 3–DECEMBER 9, 2023)</h2><p>●  Binance CEO CZ&#39;s Guilty Plea Accepted by Judge, Sentencing in February</p><p>●  SEC Extends Deadline for Grayscale Spot Ether ETF Decision</p><p>●  BlackRock Receives $100,000 in Seed Funds for Bitcoin ETF</p><p>●  Montenegrin Official Plans to Extradite Do Kwon to the United States</p><p>●  Fidelity and SEC Discuss Key Aspects of Bitcoin ETF Application Amid Rising Approval Speculation</p><p>●  US House Committee Unanimously Advances Bill to Boost Blockchain Leadership</p><h3 id="blackrock-receives-100-000-in-seed-funds-for-bitcoin-etf">BlackRock Receives $100,000 in Seed Funds for Bitcoin ETF</h3><p>BlackRock, the world&#39;s largest asset manager, has secured $100,000 in seed funding for its spot Bitcoin exchange-traded fund (ETF), according to a recent <a href="https://www.sec.gov/Archives/edgar/data/1980994/000143774923033524/bit20231201_s1a.htm" rel="noopener noreferrer nofollow">SEC filing</a>. An undisclosed investor purchased 4,000 shares at $25.00 per share, acting as a statutory underwriter for the Seed Creation Baskets.</p><p>The filing also revealed BlackRock&#39;s plan to pay the sponsor&#39;s fee by borrowing Bitcoin or cash as trade credit on a short-term basis, avoiding a significant impact on BTC prices. With 13 spot BTC ETF applications awaiting SEC approval, experts predict the first approval may come in early 2024.</p><h3 id="binance-ceo-cz-39-s-guilty-plea-accepted-by-judge-sentencing-in-february">Binance CEO CZ&#39;s Guilty Plea Accepted by Judge, Sentencing in February</h3><p>A federal judge has accepted the guilty plea of Binance CEO Changpeng Zhao to one count of Bank Secrecy Act violations. The plea was submitted alongside Binance&#39;s $4.3 billion settlement with US agencies. Judge Richard Jones has ordered Zhao to appear for sentencing in February 2024, where he faces up to 18 months in prison.</p><p>However, federal prosecutors have objected to allowing Zhao to leave the US, citing concerns about his potential flight risk. Zhao is currently released on a $175 million bond and is not permitted to travel to the UAE, where he resides.</p><h3 id="sec-extends-deadline-for-grayscale-spot-ether-etf-decision">SEC Extends Deadline for Grayscale Spot Ether ETF Decision</h3><p>The United States Securities and Exchange Commission (SEC) has <a href="https://www.sec.gov/files/rules/sro/nysearca/2023/34-99082.pdf" rel="noopener noreferrer nofollow">announced </a>that it will delay its decision on approving or disapproving the spot Ether exchange-traded fund (ETF) offered by Grayscale. The SEC will have until January 2024 to reach a decision or extend the deadline further.</p><p>This decision follows an appellate court order for the SEC to review Grayscale&#39;s Bitcoin ETF offering. The SEC has never approved a spot BTC or ETH ETF, but if it approves a spot BTC ETF, it may consider approving multiple firms&#39; funds simultaneously.</p><h3 id="montenegrin-official-plans-to-extradite-do-kwon-to-the-united-states">Montenegrin Official Plans to Extradite Do Kwon to the United States</h3><p>Terraform Labs co-founder, Do Kwon, will be extradited to the United States to face criminal charges related to the collapse of Terraform Labs. Montenegro&#39;s Justice Minister, Andrej Milović, <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-jones-12-07-2023/card/exclusive-montenegro-plans-to-extradite-fallen-crypto-tycoon-do-kwon-to-u-s--go9pVSEoANWEjPKGAfD6" rel="noopener noreferrer nofollow">plans </a>to grant the U.S. officials&#39; request for extradition.</p><p>Kwon, who was arrested in Montenegro for using falsified travel documents, faces eight charges in the U.S., including commodities fraud and securities fraud. The collapse of Terraform Labs in May 2022 triggered a cryptocurrency market downturn. While facing officials in the U.S., there is a possibility that Kwon could still be charged in South Korea as well.</p><h3 id="fidelity-and-sec-discuss-key-aspects-of-bitcoin-etf-application-amid-rising-approval-speculation">Fidelity and SEC Discuss Key Aspects of Bitcoin ETF Application Amid Rising Approval Speculation</h3><p>Fidelity and the SEC recently held discussions regarding Fidelity&#39;s Wise Origin Bitcoin Trust ETF application. The meeting involved representatives from Cboe BZX Exchange, SEC personnel, and Fidelity representatives reviewing operational aspects of the proposed Bitcoin ETF.</p><p>Fidelity stressed the importance of allowing physical creation and redemption for efficient trading and secondary market pricing. This follows the SEC&#39;s previous rejection of Fidelity&#39;s spot Bitcoin ETF application in 2022.</p><p>The ongoing meetings indicate heightened industry speculation about the approval timeline, with Hashdex anticipating a U.S. spot Bitcoin ETF by Q2 2024 and Bloomberg analysts suggesting potential approval on Jan. 10.</p><h3 id="us-house-committee-unanimously-advances-bill-to-boost-blockchain-leadership">US House Committee Unanimously Advances Bill to Boost Blockchain Leadership</h3><p>The House Committee on Energy and Commerce has approved the Deploying American Blockchains Act of 2023, directing the U.S. commerce secretary to enhance the country&#39;s competitiveness in blockchain technology.</p><p>The bill establishes a &#34;Blockchain Deployment Program&#34; and advisory committees, aiming to promote blockchain leadership, improve coordination for federal agencies, and assess their readiness for adopting the technology.</p><p>While not as impactful as some other bills, it signifies a step toward preserving U.S. leadership in blockchain development. The bill now heads to the House for a vote and, if successful, requires Senate approval for final clearance.</p><h2 id="header-1">NEWS FROM MELEGA ECOSYSTEM</h2><h3 id="a-href-https-slafac-com-rel-noopener-noreferrer-nofollow-slapface-slafac-farm-pool-on-melegaswap-a"><a href="https://slafac.com/" rel="noopener noreferrer nofollow">SlapFace (SlaFac) Farm &amp; Pool on MelegaSwap</a></h3><p>The ultimate goal of $SLAFAC is to be used as a prize coin for slap fighting, which is popular these days. 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Crypto Weekly Recap: CZ's Guilty Plea Accepted; BlackRock Secures $100K for BTC ETF; Do Kwon to Be Extradited; and More (Dec. 3-9, 2023)

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