• Specs News
  • Posts
  • 12/6/23: Return Of The Bull 📈📁💸

12/6/23: Return Of The Bull 📈📁💸

Author

Valko
December 06, 2023

Top News

  1. BTC passes Meta’s market cap, becoming the world’s 9th largest asset

  2. SEC filings that mention “Bitcoin” hit a record high in November

  3. Coinbase launches money transfers anywhere you can send a link

Insights

1. BTC passes Meta’s market cap, becoming the world’s 9th largest asset

⌐◪-◪ → Bitcoin’s market cap just blasted past Meta’s at $860B, making it the 9th largest asset in the world - live data here.

While you might think Apple sits at #1 with its recent $3T market cap, you forgot about the sleeping giant → Gold.

Gold sits above everything else at a whopping $13.7T market cap. So if Bitcoin truly is the new (digital) gold, then it has at a lot of room to grow - 15.93x to be specific.

2. SEC filings that mention “Bitcoin” hit a record high in November

⌐◪-◪ → The word “bitcoin” appeared in 1,074 regulatory filings submitted to the SEC in November - an all time high.

This is a 35% increase from the the same month last year, and a 32.6% increase form the previous all time high of 810 mentions.

Price is a lagging indicator, but SEC filings that mention the word “Bitcoin” might be a strong leading indicator given this month’s BTC rally to $45k.

3. Coinbase launches money transfers anywhere you can send a link

⌐◪-◪ → Coinbase Wallet users can now send funds to anybody, anywhere, using any app they can send a link through.

This might not seem like a big deal, but it is. Coinbase just took the world’s 1st public digital payments infrastructure, and made it insanely accessible.

Shoutout to Coinbase’s marketing team, for another incredible video.

Peripheral Vision

⛓️ Crypto & DeFi

  • 20,000 blocks remain until the Bitcoin halving ~April 2024

  • Dogecoin, the infamous dog-themed meme coin, turns 10 years old

  • DeFi market rebounds to $50B total value locked (TVL)

  • New Binance CEO was evasive in first marquee interview

  • Helium Mobile debuts an unlimited nationwide plan for just $20/mo

  • IBM introduces new cold storage technology for crypto assets

  • Worldcoin launches grant program, outlines decentralization plans

  • Ankr launches Rollup-as-a-Service for zkSync Hyperchains

🏦 Wallstreet & VC

  • Ark Invest sells $33M Coinbase shares & $5.9M Grayscale BTC Trust

🏛️ Legal & Regulatory

  • SEC delays decision on Grayscale's spot Ether ETF to 2024

  • SEC might want to call Bitcoin a “potential security”

  • New Jersey wants to classify certain digital assets as securities

  • Rep. Maxine Waters calls for sessions on crypto-related issues

  • Crypto-friendly Rep. Patrick McHenry won't be seeking re-election

🌎 Rest of the World

  • Euro stablecoin, AEUR, surges 200% over €1 peg

  • Chinese exchange Gate.io blames volume spike on quant traders

  • Société Générale to become the first big bank to list a stablecoin.

  • Nubank partners with Talos to trim crypto trading costs in Brazil

  • France's 3rd largest bank SocGen to debut euro-pegged stablecoin

🖼️ NFTs & Metaverse