29 December

“Starting now, XRP trading “will move into limit only,” Coinbase wrote. It will be fully suspended on Tuesday, Jan. 19, 2021, at 1 p.m. ET.

We will continue to monitor legal developments related to XRP and update our customers as more information becomes available.

Exchanges that continue to list XRP without registering as a securities exchange with the SEC face potential consequences down the line, including possible enforcement actions.

Crypto exchanges are unregistered with the SEC (by choice, as registering carries on many burdens and increased costs) and thus it is in their best interest to not offer trading of securities. It is for their protection, not their customers.

The price of XRP on Coinbase tanked from $0.28 to $0.24 within the first 20 minutes of the announcement. Since the announcement of the SEC’s lawsuit, the price of XRP has fallen by more than 50%.”

See Also: OKCoin to Suspend XRP Trading and Deposits on January 4

In Bitcoin’s lull, altcoins are seizing the opportunity—and booming.

Ethereum, the second-largest coin by market capitalization, rose by 14.23% in the past 24 hours to $720; Litecoin by 6.57% to $134.18; Bitcoin Cash by 15.56% to $364; Polkadot by 15.78% to $5.76; Cardano by 8.47% to $0.16; Binance Coin (BNB) by 8.59% to $34; and Chainlink by 15.58% to $12.23.

Late yesterday we got the usual swapping of BTC profits into the Alts, driving ETH to new cycle highs as well.”

See Also: Altseason and $30K in sight: 5 things to watch in Bitcoin as 2020 ends
See Also: Whale Sightings Become Scarce, Removing Downward Pressure on Bitcoin: Analyst

The world’s largest asset manager, BlackRock, is seeking to hire a vice president to help build and execute strategies and “drive demand” for the company’s crypto and crypto-related offerings.

Candidates should be able to devise and articulate fundamental valuation methodologies for crypto-assets; evaluate game theory and decentralizing governance models associated with blockchain technology.”

“Binance has launched a new Bitcoin options contract [that] will allow traders to issue their own contracts.

This means that traders can set their own rules: there are no limits on the size of the contract, so long as the issuer has sufficient collateral. And this means that buyers may pay a greater premium for the contracts, but also that an issuer is obliged to fulfill the contract.

Binance said that it’s launching the European-style contracts to encourage investment from institutional investors.”

“Cover was exploited today when someone used an “infinite mint” bug to claim several millions of dollars worth of ETH. The hacker minted millions in fake tokens, used them to provide liquidity to Balancer protocol, then redeemed the staked tokens for Cover tokens, which they then dumped on exchanges. Rinse and repeat.

The Grap Finance deployer gave the money back to Cover, saying, ‘Next time, take care of your own shit.’