WEEK 50: Nigerian Prince shows support for crypto💲 Reddit plans to go public 💹

December 13, 2021

Bitcoin is currently trading at $49,099.33, showing a bearish trend after having rejected the $52,000 price level. If it falls further, $40,000 could be a support level and could provide opportunities for a long position. DOGE is currently trading at $0.1651 after rejecting the $0.1619 level.

Indian Prime Minister Narendra Modi's Twitter account was hacked on the 12th of December. The hackers put out a message stating that the Indian Government would adopt Bitcoin as its legal tender and has purchased 500 Bitcoins to distribute to the citizens of the country. This is the second time that the PM's account was compromised.

Top 5 cryptos of the day:

  • BTC 0.19%
  • ETH 0.33%
  • SOL -1.50%
  • XRP 1.82%
  • LUNA 2.49%

Biggest gainers:

  • NU 9.04%
  • OXT 4.48%
  • CRV 2.87%
  • DOT 2.84%
  • LUNA 2.49%

Biggest losers:

  • DCR -9.38%
  • BTT -6.47%
  • NKN -5.71%
  • MATIC -4.54%

Nigerian Price shows support for cryptocurrency

Prince Clem Agba and Nigeria's minister of the state budget has shown his support for cryptocurrencies after Nigeran Central Bank banned Bitcoin earlier this year. This support is amidst the country's severe inflation due to COVID-19.  

Tax-Free paradise, open to one and all

St. Regis Bahia Beach Resort located in Puerto Rico is attracting investors with the catch of zero taxes. The 483-acre beachfront resort is the talk of the town and is the place to be right now.

Binance withdraws crypto license

Binance, the crypto exchange platform is withdrawing its license application in Singapore. This will stop users in Singapore to use Binance's local site binance.sg, and all user accounts in that country will be closed.

BadgerDAO heisted for $130 million

BadgerDAO, the Decentralized Finance platform was recently heisted for $130 million on Dec. 2nd as a flaw in Cloudflare's account creation process. This was a phishing attack as a result of a maliciously injected snippet that was provided by Cloudflare employees according to BadgerDAO's statement.

Reddit submits an application to go public

Reddit has submitted a draft registration form to the Securities and Exchange Commission (SEC) proposing an initial IPO on its common stock. The number of shares and their price are yet to be discussed upon. Reddit chooses not to disclose more information.

Interesting financial reads:

Cryptocurrency bill not on today's cabinet meeting agenda

Sameer Gehlaut to sell 11.9% stake in Indiabulls Housing Finance via block deal

US to blacklist eight more Chinese companies including drone-maker DJI

A full recap of the Fed decision with Powell highlights and instant investor insight


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