‘Unique DOGE Proposal’, Binance ‘Funds SAFU’, Monero-Mining Spider-Pirates, Late Thai CBDC + Other News

Source: AdobeStock / alexander132

Get your daily, bite-sized roundup of the news about crypto assets and blockchain – and examine the stories flying under the radar of today’s crypto news.

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Staking news

• The Dogecoin Foundation, a non-profit organization behind the meme-based Dogecoin (DOGE) project, is working in collaboration with Ethereum (ETH) co-founder Vitalik Buterin on a staking mechanism that would allow all Dogecoin users to wager their DOGE and add extra receive tokens to support the network. They added that they are creating a “unique Doge proposal” for a “community staking” version of the proof-of-stake (PoS) that will be returned to the community through charity.

Exchange messages

• Binance Encountered some spot trading issues on Dec 24 at around 5am UTC but stated “Funds are SAFU”. The problems were resolved in less than half an hour.

Security news

• Pirates attempting to download illegal copies of the Spider-Man: No Way Home movie are exposing their computers to crypto-mining malware, which redirects those computers to the Mining Monero (XMR), according to the cybersecurity firm ReasonLabs. A likely source of the torrent could be a Russian torrent website, and while the malware does not steal personal information, ReasonLabs pointed out that it incurs costs to the victim in the form of increased electricity bills and high CPU usage, causing their machine to slow down .

CBDC news

• The central one Bank of Thailand said it expects to test its retail central bank (CBDC) digital currency as an alternative payment option for the public in late 2022 – later than planned, according to Reuters. The pilot, previously slated for the second quarter of 2022, will evaluate the use of the CBDC in cash-like activities on a limited scale, Central Bank Deputy Director Kasidit Tan said.

Regulatory News

• Wyoming Senator Cynthia Lummis, one of the U.S. lawmakers behind many pro-crypto pieces of legislation, plans to come up with a comprehensive bill next year on how to deal with digital assets, Bloomberg reported. The proposed bill aims to provide regulatory clarity on stablecoins, guide regulators as to which cryptos belong to different asset classes, and provide consumer protection and an organization under the common jurisdiction of the Securities and Exchange Commission (SEC) and the Commission for trading in commodity futures contracts (CFTC) to oversee the crypto market.

Business news

• Financial services company Loyalty InvestmentsThe UK branch reported that customers have been most interested in trading stocks in the crypto mining company over the past 12 months Argo blockchain. However, the company indicated that Argo may not make the top 5 next year as “newcomers” removed the mining company from its most actively traded list in December.

Attachment messages

• The Assets Under Management (AUM) of Bitcoin (BTC) and Grayscale Products fell more sharply in December compared to competing assets and digital asset firms – meaning the dominance of the two waned over the month, according to the market data provider CryptoCompare. Bitcoin products ‘market share fell from 70.6% in November to 67.8%, the lowest percentage in 2021, while Grayscale products’ AUM fell 17.1% to $ 43.9 billion and a market share of 76.2% of the total AUM, also the lowest proportion of 2021.
• The US SEC has refused Valkyrie and Cryptoin Bitcoin Spot Exchange Traded Fund (ETF) applications. The watchdog has yet to approve a Bitcoin Spot ETF application.
• Tokenization platform for content creators XCAD network Closed Series A financing from one of Wall Street’s premier digital assets players Leap cryptobut does not know the amount invested. Jump Crypto will help make XCAD a top asset in the industry through exchanges, partnerships, more liquidity and more, they said.

Career news

• Adam White, president and founding member of the digital asset company Baked, is leaving the company after three years at the end of next week. Bakkt’s president did not reveal what his next step would be or whether he would continue to work in the crypto space.
• Richard Teng who joined Binance Singapore as Chief Executive Officer four months ago, has taken on a new role as Head of the global Middle East and North Africa company, according to his LinkedIn profile. The move came after Binance reached an agreement with the Dubai World Trade Center Authority build an international virtual asset ecosystem.