By Shikha Singh
German Watchdog Cracks Down on Worldcoin Over Biometric Data.
German regulators are investigating Worldcoin, a crypto-based digital identity project that OpenAI CEO Sam Altman co-founded, due to concerns about its compliance with EU data protection laws, specifically the GDPR.
The Bavarian State Office for Data Protection Supervision (BayLDA) is scrutinizing how Worldcoin’s biometric data collection via iris scans, used to create unique digital identities, aligns with privacy standards.
The regulator ordered Worldcoin to implement a GDPR-compliant data deletion protocol by January 19, 2024.
Animoca Brands Reports Significant Revenue Growth In Q3 2024.
Animoca Brands reported strong financial results for Q2 and Q3 of 2024, with Q3 revenue reaching $69 million, a 43.8% increase from the previous quarter and a 165% rise year-over-year.
The growth was driven by three key segments: Digital Asset Advisory ($25 million), Web3 operations ($39 million), and investment management ($5 million).
US Bitcoin ETFs See Historic Outflows As Brutal Sell-Off Shakes Crypto Markets.
A broad market decline following the Federal Reserve’s policy meeting led to a record outflow of $672 million from US spot Bitcoin ETFs on Thursday.
This marked the end of a two-week positive streak for the 11 funds directly holding Bitcoin. Fidelity’s Bitcoin Fund (FBTC) led the withdrawals with $208.5 million, while Grayscale’s Bitcoin Mini Trust (BTC) saw its largest outflow of over $188 million.
Other funds like ARK Invest’s ARKB and Grayscale’s GBTC also experienced significant losses. Despite this, WisdomTree’s Bitcoin Fund (BTCW) saw a small gain of $2 million.
El Salvador Snaps up 11 Bitcoin Worth Over $1 mn to Supercharge Its Crypto Reserves.
El Salvador has added 11 Bitcoins worth $1 million to its national reserve, bringing its total holdings to 5,980 BTC.
This purchase comes shortly after the country secured a $1.4 billion development loan from the IMF, which required slowing down some crypto policies, including retiring its digital wallet, Chivo.
Hut 8 Bitcoin Holdings Now Over $1 bn With Latest Buy.
Hut 8, a major North American Bitcoin mining company, has expanded its Bitcoin holdings with a $100 million purchase of 990 BTC, bringing its total reserves to over 10,096 BTC, valued at over $1 billion.
The company’s strategy involves combining low-cost BTC production with market buys to strengthen its reserves.
Hut 8 is now among the top 10 corporate Bitcoin holders globally.
WazirX Likely To Fully Resume Crypto Withdrawals By Mid-April 2025.
WazirX, the hacked crypto exchange, aims to fully resume crypto withdrawals by mid-April 2025, following a cyberattack in July 2024 that resulted in a $230 million loss.
The company has filed for approval in a Singapore court to restructure and compensate affected users through asset rebalancing, profits from a new decentralized exchange, and asset recovery.
As of December 2024, WazirX holds $565.7 million in digital assets, with users filing claims for $546 million. The court hearing is set for January 22, 2025, and upon approval, users will begin receiving liquid asset distributions within 10 days.
Metaplanet Bitcoin Strategy Sparks Stock Surge with $33.3 mn Bond Plan.
Tokyo-listed Metaplanet is raising ¥5 billion ($33.3 million) through bonds to fund its Bitcoin purchasing strategy, aiming to become Asia’s largest Bitcoin holder.
The company has already acquired 1,150 BTC worth $122.67 million since starting its Bitcoin spree in April 2024.
Metaplanet plans to repay the bonds with funds from selling stock rights.
Ark Invest Offloads $3.9 mn In Coinbase Shares Amid Fed’s Hawkish Remarks.
Ark Invest sold 13,780 Coinbase shares, worth $3.9 million, from its Fintech Innovation ETF (ARKF) after Coinbase’s stock dropped 10% following the Federal Reserve’s hawkish remarks.
This sale is one of Ark’s largest since September. Coinbase remains the second-largest holding in ARKF, making up 9.9% of the fund.
Following the Fed’s 25 basis-point rate cut, a hawkish tone reduced the outlook for 2025 rate cuts, which significantly impacted Coinbase and Bitcoin’s prices.
Doodles NFT Soars 62.5% Amid Token Speculation and McDonald’s Partnership.
The Doodles NFT collection saw a 62.5% price surge in the last 24 hours, reaching 6.97 ETH, after founder Scott Martin, also known as Burnt Toast, hinted at a potential token launch in a recent post.
The community speculated that the message indicated a “token is coming,” which fuelled excitement.
As a result, Doodles rose to the sixth position among NFT collections by market cap, valued at $228.7 million.
This surge follows Doodles’ successful partnership with McDonald’s, which featured its artwork on over 100 million holiday cups, boosting brand recognition.
Shiba Inu & Chainlink Partner to Expand Multi-Chain Ecosystem
Shiba Inu’s Layer-2 network, Shibarium, has partnered with Chainlink to enhance cross-chain interoperability and data integration.
By adopting Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and the Cross-Chain Token (CCT) standard, Shiba Inu’s assets (SHIB, LEASH, and BONE) can now operate seamlessly across 12 blockchains.
This collaboration enables secure token transfers through mechanisms like lock-and-mint and burn-and-mint.
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