Crypto News 7 Dec 2022

Please find below today’s Crypto News 7 Dec Headlines

Crypto News 7 Dec #1 – Kentucky to scrutinize contracts offering cheaper electricity to miners

Kentucky to scrutinize contracts offering cheaper electricity to miners by dev 16 hours ago 5 views 0share The Kentucky Public Service Commission (PSC) has reportedly opened a formal investigation into two proposed contracts that would offer discounted electricity prices to new crypto-mining operations.

Crypto News #2 – Malta plans to kick out NFTs from crypto law

Malta’s Financial Services Authority said Monday it wants to remove service providers for non-fungible tokens (NFTs) from the scope of its 2018 virtual-assets law as it prepares for new European Union crypto legislation.

Crypto News 7 Dec #3 – Hong Kong’s race to launch first crypto-linked ETF begins

Three Hong Kong-based asset management firms have applied for exchange-traded funds (ETFs) tracking Bitcoin and Ethereum futures, traded on the Chicago Mercantile Exchange, for retail investors.

Crypto News #4 – After FTX collapse, Goldman Sachs to pour millions into crypto startups

Banking giant Goldman has plans to invest tens of millions in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. The ripple effects from FTX’s collapse have boosted Goldman’s trading volumes. McDermott further informed that the firm is building its own private distributed ledger technology.

Crypto News 7 Dec #5 – Bitcoin mining difficulty drops by more than 7%, thanks to crypto winter

The difficulty of mining a bitcoin block fell by 7.32%, with miners powering off machines as a brutal bear market eats into profit.

Crypto News #6 – Nike Announces “1st Native Web3 Sneaker,” Courtesy Of NFT Property RTFKT

Nike’s acquisition of RTFKT last year has largely served as the most successful case study from a traditional brand utilizing an NFT platform – certainly among those who have entered the NFT space with a longer time horizon.

The acquisition came one year ago in the midst of NFT bull market madness. Following the acquisition, the brand launched its own dedicated web3 platform,.Swoosh, last month as well, showed a continued investment to play in the web3 sandbox.

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Crypto News 7 Dec #7 – ConsenSys intends to store MetaMask user data for only seven days

In a privacy update published on Dec. 6, ConsenSys, the developer of the popular MetaMask browser wallet, said it would reduce its retention of user data such as wallet addresses and IP addresses to seven days. Previously, on Nov. 24, ConsenSys updated its privacy policy to clarify how Infura (MetaMask’s default Remote Procedure Call) works with user data such as including IP addresses. The revelation sparked controversy in the crypto community around privacy concerns, leading the firm to clarify that IP addresses collected through MetaMask will not be monetized or “exploited.”

Crypto News #8 – Ethereum Number of New Smart Contracts Fell by 58%

Ethereum new smart contracts statistics The number of ERC-20 tokens created in the Ethereum network in November decreased by 58%. The number of ERC-20 tokens created on the Ethereum network in October was 14,295.

Crypto News 7 Dec #9 – Litecoin Surges 9% In 24 Hours, Takes Spot As 12th Largest Crypto

Data shows Litecoin has become the 12th largest crypto in the market after its 9% surge during the last 24 hours. Litecoin Continues Bullish Momentum, Registers 15% Gains In Past Week This last week has been green for much of the crypto market as many top coins have managed to get double-digit gains in the period.

Crypto News #10 – US FTC investigating crypto firms over misleading ads

The US Federal Trade Commission is probing several crypto firms over allegations their advertisements were deceptive or misleading, the agency said Monday. “We are investigating several firms for possible misconduct concerning digital assets,” FTC spokeswoman Juliana Gruenwald Henderson said in a statement to Bloomberg News.

Crypto News 7 Dec #11 – S.Korea central bank puts hand up to regulate stablecoins

South Korea’s central bank said Thursday it has decided to join a global movement of financial regulators to set up standards for stablecoins, saying it would adopt the rules to the local market once they are introduced.

Crypto News 7 Dec #12 – SushiSwap proposes to direct 100% of xSUSHI revenue to the treasury wallet

xSushi holders receive 0.05% of each swap, 10% of which is directed to the SushiSwap treasury wallet. In the proposal, Grey recommended that SushiSwap should increase the treasury fee ratio from 10% to 100%, leaving no more token rewards for xSushi holders.

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