In this week’s newsletter, read about how nonfungible token (NFT) trading volume neared $1 billion in November, and check out new NFT releases from former United States President Donald Trump, FIFA and heavy metal band Megadeth. In other news, find out why NFT platform Enjin transferred 200 million NFTs from Ethereum to its own blockchain. And don’t forget this week’s Nifty News featuring Funko and Disney’s NFTs. 

NFT trading volume nears $1 billion as markets turn bullish: Report

NFTs might be making a comeback as their trading volume almost reached $1 billion in November. According to data tracking site DappRadar, NFT trading volume shifted last month, surging by 125%. This…

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The US Securities and Exchange Commission continues to actively engage with various fund issuers to discuss the launch of their proposed spot bitcoin ETFs. One key focus of these discussions is the operational aspects of such funds.

Valkyrie Chief Investment Officer Steven McClurg said on a Tuesday podcast that his company is addressing various structural issues with the SEC — particularly the process of creating and redeeming ETF shares. McClurg expressed optimism, saying he thinks they are “getting very close” to a resolution.

Financial behemoth BlackRock, which manages roughly $9 trillion in assets, most recently met with the SEC on Monday to discuss the company’s proposed…

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Crypto companies and institutions holding crypto assets have gotten some good news about accounting practices. They will be able to record the value of their crypto more realistically under rule changes in the United States. 

The Financial Accounting Standards Board (FASB) finalized the new rules on Dec. 13. The FASB is the organization that sets accounting and reporting standards for the U.S. Generally Accepted Accounting Principles (GAAP). GAAP-standard financial reports are required from companies that trade on public markets in the United States.

Related: New crypto accounting guidelines could ‘smooth the way’ for adoption

Under current practice, crypto is considered an…

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Cryptocurrencies and stocks inched slightly higher Wednesday ahead of the Federal Reserve’s interest rate decision release. 

Bitcoin moved back into the green Wednesday morning after this week’s earlier selloff, posting a 1.1% gain over the past 24 hours. Ether, which has also been faltering since Monday, was just barely up Wednesday but still managed to stay above $2,200. 

Equity markets were flat as traders waited to hear from the central bank. The S&P 500 and Nasdaq Composite indexes each gained as much as 0.2% earlier in the trading session before paring gains and settling around their opening prices. 

If all goes according to plan Wednesday afternoon, markets should react…

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Bitcoin (BTC) has failed to rebound sharply following the fall on Dec. 11, suggesting selling pressure on relief rallies. Glassnode data shows that short-term holders (STHs), entities holding Bitcoin for 155 days or less, sent $1.93 billion worth of Bitcoin to exchanges on Dec. 11 and $2.08 billion on Dec. 12. The last time single-day selling crossed the $2 billion mark was way back in June 2022. This shows that speculators are in a hurry to dump their holdings.

However, lower levels are attracting buyers. Trading resource Material Indicators suggested that “institutional sized” bids could be seen but added that it was unclear if it was accumulation or a short-term trading opportunity…

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Thanks to a script error, Yearn has lost 63% of its treasury.

This loss occurred when a malfunction in a multisig (multi-signature) script led to the unintended swap of Yearn’s treasury balance.

The company clarified that the funds were strictly from Yearn’s treasury, and not from any customer funds.

According to a post, a “faulty multisig script caused Yearn’s entire treasury balance of 3,794,894 lp-yCRVv2 tokens to be swapped.” The incident happened on Dec. 11. 

“This amount comprised a large portion of the Curve pool, and therefore incurred significant slippage which arbed back to the normal price by the market shortly after,” Yearn wrote.

“When factoring in the…

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In 2013, the launch of a dog-themed crypto token as a private joke between a couple of software developers was a harmless piece of fun. The fact that Dogecoin (DOGE) has since amassed a market capitalization greater than $13 billion (as of Dec. 13) is beyond the understanding of most investors, but it seems like it’s here to stay. The sector that DOGE has inspired, though, is becoming a menace to an industry that needs to evolve.

Memecoins are dangerous. They are dangerous because the large majority of those who put their money into them never see it again; they are dangerous in the way they damage the credibility of the entire cryptocurrency industry; they are dangerous in the way…

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When it comes to scaling Ethereum, rollups are the name of the game. But as rollups increase transaction throughput, they face a challenge in where to store their data.

The obvious option is on Ethereum itself. Some argue that doing so is even core to the claim that rollups “inherit” Ethereum security. Ethereum’s execution layer nodes store a complete copy of the blockchains ledger and history, allowing clients to independently verify the accuracy of its transaction history.

While great for security and resilience, this comes at the cost of scalability. This is one of the main reasons why the Ethereum mainnet maxes out at around 15 transactions per second (TPS), and can be…

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