Crypto News 8 Dec 2022

Please find below today’s Crypto News 8 Dec Headlines

Crypto News 8 Dec #1 – Tether launches offshore Chinese Yuan on TRON

Tether Operations Limited has announced the launch of its offshore Chinese yuan-backed stablecoin on the Tron blockchain. The stablecoin, CNHT, was created in 2019 and was previously only available on the Ethereum blockchain as an ERC-20 token.

Crypto News #2 – Japan recommends against algorithmic backing in stablecoins

Japanese regulators are thinking about completing their historic stablecoin law by limiting the algorithmic backing of stablecoins. The Financial Service Agency (FSA) has recommended this, and Tomoko Amaya, the nation’s vice minister for international affairs, has reaffirmed it.

Crypto News 8 Dec #3 – Early Access’ Chainlink Staking v0.1 live on Ethereum mainnet

Chainlink, the industry-standard Web3 services platform, today announced the launch of Chainlink Staking v0.1. Chainlink Staking is a new crypto-economic security mechanism in which stakers commit LINK tokens in smart contracts to back certain performance guarantees around oracle services.

Crypto News #4 – Anonymous Whale Withdraws Over 4 Billion XRP From Bittrex

In one hour, an unknown XRP whale withdrew a total of 4,124,254,650 (4.12 billion) XRP from an address on the Bittrex cryptocurrency exchange. Notably, the Bittrex user has transferred huge amounts of XRP coins to different external wallet addresses.

Crypto News 8 Dec #5 – Nexus Mutual Expects Significant Loss From Maple Credit Pool

Nexus Mutual has stated that it is expecting a significant loss on its investment in a Maple Finance credit pool. Nexus revealed the loss in a statement released on Monday, where the platform warned of a potential loss of around 2461 ETH, worth around $3 million, resulting from Orthogonal trading’s recent default to Maple.

Crypto News #6 – Binance Generates 90% of Revenue From Transaction Fees, Changpeng Zhao Says

Cryptocurrency exchange Binance generates 90% of its revenue from transaction fees, CEO Changpeng “CZ” Zhao said in a recent TechCrunch interview posted on YouTube.
He added that Binance had removed all ads from the data site CoinMarketCap, which it acquired in 2020, to make for a cleaner experience.

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Crypto News 8 Dec #7 – XRP Community Reacts to Michael Saylor’s Comments on Ripple Lawsuit

CryptoLaw founder John Deaton has reacted to MicroStrategy chairman and Bitcoin evangelist Michael Saylor’s recent comments on XRP. On a Patrick Bet David (PBD) podcast, Saylor mentioned that the SEC should shut down Ripple, claiming that XRP and, likewise, ETH are unregistered securities. @saylor is brilliant.

Crypto News #8 – ICE CEO Says New Crypto Laws Are Not Needed

“We don’t need new legislation or regulation,” said Dennis Kelleher, co-founder, and CEO of Better Markets in a lengthy analysis of the FTX debacle. “We need politicians to fully fund the Securities and Exchange Commission and to publicly support them in cracking down on the crypto industry.”

Crypto News 8 Dec #9 – US lawmakers want State Department to justify crypto rewards and disclose payouts

The State Department should submit a report on the use of cryptocurrencies as a viable reward payout with evidence that suggests it’s more encouraging for whistleblowers.

The United States lawmakers have proposed an amendment to the State Department Basic Authorities Act of 1956 that includes information on crypto rewards and payouts.

Crypto News #10 – Chainlink Staking Opens With Initial $51 Million Inflow

Chainlink, a provider of price feeds and other data for blockchains to use in smart contracts, introduced staking of its native token LINK on Tuesday, and selected holders locked 7 million tokens, valued at about $51 million, in the first 30 minutes, according to a company spokesperson.

Crypto News 8 Dec #11 – Decentraland launches virtual property renting for LAND owners

The metaverse platform Decentranland announced a new platform feature that allows its users who own virtual LAND to essentially become landlords. Owners can now officially rent out their property to other users on the platform for predefined periods of time. This allows users to earn passive income off of their metaverse assets.

Crypto News 8 Dec #12 – Gemini Announces Plan To Recover Earn Program User’s Funds

Gemini Announces Plan To Recover Earn Program Users’ Funds Crypto exchange Gemini’s cofounder Cameron Winklevoss on Wednesday announced launching a page to help bring transparency process regarding finding a resolution for all Earn users to redeem their funds.

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