Every week we look back at the most important crypto news from the past week. The crypto market has been characterized by an extremely bullish mood since October, and last week was no different. However, last week’s price movements were very disappointing.
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Bitcoin price drops after bad ETF news
At On Wednesday, the price of Bitcoin suddenly jumped 7% – the strongest increase since late October. Remarkably, Tuesday evening was marked by negative news. The US Securities and Exchange Commission has again postponed the decision on whether to approve or reject the various Bitcoin (BTC) spot ETFs.
Last week was important for these funds as virtually every fund had a deadline. Unfortunately, it became clear on Friday that all deadlines had expired. The next interesting date is next Tuesday, but after that we have to wait until the beginning of January. Some analysts believe we’ll have to wait until then anyway.
Ripple (XRP) pump and dump due to fake news
The same applies to XRP. On Monday, it was revealed that BlackRock had also filed for an exchange fund for XRP, but that was nothing more than fake news. The price rose by around 13% shortly after the news, but the coin lost almost all of its gains that same day. The rest of the week wasn’t great either; The price fell about 5% last week.
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Bitcoin wallets are vulnerable to hacker attacks
Much more worrying than some strange price movements is that the Bitcoin wallet software has a major software bug. BitcoinJS wallet software allows you to generate wallet addresses for Bitcoin and certain other cryptocurrencies. The program was mainly used between 2011 and 2015.
Unfortunately, this has a major security flaw, meaning any wallets generated with it may be insecure. There appear to be a few large parties that have used the software and the total number of addresses created with it is significant. In their study, the researchers reveal exactly which wallets are at risk.
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The Dutch government wants to implement a crypto law
There are also developments in the Netherlands. Last summer, the European Parliament passed legislation on crypto asset markets, but this must be approved by each EU member state.
Last Friday, the government presented a proposal to implement the rules in the Netherlands. MiCA is a comprehensive package of measures, so it is possible that there are differences between the Dutch regulations and the EU plans.
OpenAI fires CEO, Worldcoin crashes
The American OpenAI also made notable news. OpenAI CEO Sam Altman was forced to resign. The board fired him because the board was unhappy with his communication style. Altman is a co-founder of blockchain project Worldcoin, which saw its value fall 12% within 24 hours of the news. However, the altcoin has also recovered from the entire loss.