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Worldcoin, now rebranded as World, faces scrutiny from German regulators over its biometric data practices, particularly regarding compliance with GDPR. The Bavarian State Office for Data Protection has mandated a data deletion protocol by January 19, highlighting concerns over the collection and storage of sensitive iris data. Despite implementing some compliance measures, World plans to appeal the regulator's decision amid ongoing global privacy concerns.
The SEC has approved the first hybrid Bitcoin-Ethereum ETFs, allowing Nasdaq and Cboe BZX to list the Hashdex Nasdaq Crypto Index US ETF and the Franklin Crypto Index ETF, respectively. Each fund will hold approximately 80% Bitcoin and 20% Ethereum based on market capitalizations. Grayscale has also filed to convert its Solana Trust into an ETF, aiming to enhance investor access.
Blockchain gaming is evolving as major studios like Sony and Square Enix adopt layer-2 solutions, enhancing player experiences and reducing onboarding friction. Despite ongoing skepticism about credibility, over 71% of gamers recognize ownership as the primary benefit of blockchain games. The industry is shifting from traditional play-to-earn models to merit-based systems, emphasizing seamless integration and community-driven game development.
SatLayer has integrated with the Sui blockchain, enabling developers to utilize Bitcoin's significant market presence in decentralized finance applications. This collaboration aims to enhance the tools available for building secure decentralized applications, leveraging Sui's speed and scalability alongside Bitcoin's security.In related news, the Babylon Chain has surpassed $3.6 billion in Bitcoin deposits, reflecting a growing interest in restaking platforms. With significant backing and partnerships, both SatLayer and Babylon are positioning themselves as key players in the evolving DeFi landscape.
Wyoming Senator Cynthia Lummis has introduced the BITCOIN Act of 2024, aiming to establish a national Bitcoin reserve to enhance the U.S. dollar's global standing. The initiative seeks to accumulate 1 million Bitcoin over five years, funded by reallocating existing Federal Reserve assets. With Donald Trump’s administration poised to support this legislation, Lummis envisions a transformative impact on the nation's financial strategy.
The Financial Conduct Authority (FCA) is seeking industry feedback on a discussion paper aimed at enhancing regulations in the UK crypto market to combat abuse and improve transparency. With 12% of UK adults now owning crypto, the FCA emphasizes the need for robust internal measures among trading platforms to ensure market integrity and protect consumers. Stakeholders are invited to provide input by March 14, 2025, ahead of a forthcoming Consultation Paper.
Bitcoin's ratio against gold has reached a historic high of 37.3, indicating one Bitcoin can now buy approximately 37 ounces of gold. This surge reflects growing institutional adoption and the cryptocurrency's emerging status as "digital gold," despite ongoing volatility and traditional investors' preference for gold during uncertain times. As Bitcoin's market capitalization rises, discussions around national Bitcoin reserves are gaining traction in several countries.
Bitcoin surged to over $105,000, driven by market anticipation of a Federal Reserve interest rate cut, expected to be 25 basis points. Analysts suggest that while the cut is favorable, its impact may be limited as the market has already priced it in, with focus shifting to future economic projections and institutional engagement. The broader crypto market, including Ether, is also benefiting from this bullish momentum, reflecting a significant yearly gain.
The Bank of England is mandating firms to report their crypto asset exposure by March 24, 2025, to enhance financial stability and inform regulatory frameworks. The Prudential Regulation Authority (PRA) is particularly concerned about risks associated with permissionless blockchains and settlement failures. This initiative aims to establish a baseline for monitoring risks and guiding future regulations in the evolving crypto landscape.
Google has launched Gemini 2.0, enhancing its AI capabilities with multimodal features and improved reasoning, while Anthropic introduced Claude 3.5 Haiku, a faster model excelling in coding tasks. Both services are priced at $20 monthly, competing directly with OpenAI's offerings. Gemini 2.0 includes advanced tools for research and a new AI assistant, Astra, aiming to redefine user interaction with AI.
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