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FameEX Morning Crypto News Recap | December 5, 2023
2023-12-05 12:09:15
Bitcoin Experiences Second-Largest Transaction Volume During Price Increase, Unprecedented Spike in Ordinal Inscriptions
On December 3, 2023, Bitcoin experienced its second-highest day of transaction activity, coinciding with its value surpassing $40K. This follows closely behind the record set on November 19, 2023, when 710,579 transactions were validated. Within a 24-hour period on Sunday, bitcoin miners authenticated a total of 707,876 transactions, marking a significant surge in trading activity.
JPMorgan's JPM Coin Set to Launch in Interbank Transaction Operations JPMorgan's official token, Jpm coin, has debuted on Partior, a blockchain-based banking settlement platform. This system, developed jointly by JPMorgan, DBS Bank, Temasek, and Standard Chartered, enables customers to conduct transactions between these banks using blockchain assets. The introduction of Jpm coin marks a significant move towards utilizing digital currency for interbank transactions. IRS Reports Increase in Cryptocurrency Tax Investigations The IRS investigative unit, in its annual report on December 4, disclosed initiating over 2,676 cases in the 2023 fiscal year, uncovering over $37 billion in tax and financial crimes. The team highlighted a surge in digital asset usage, leading to an increased number of tax investigations related to these assets. Meta's AI Chief Declares Ongoing 'AI War', Cites Nvidia as Key Supplier of 'Weapons' In his remarks, LeCun discussed Nvidia's dominant position in the AI hardware sector, the possibility of achieving human-level AI soon, and Meta's decision not to engage in quantum computing, unlike its competitors. His commentary highlighted key aspects of the evolving AI landscape and Meta's strategic choices in technology development. Itaú Unibanco, Brazil's Biggest Bank, Initiates Bitcoin Trading Services Itaú Unibanco, Brazil's largest asset bank and a major lender in Latin America, has introduced a cryptocurrency trading service for its clients, according to Reuters on Dec. 4. This new offering, part of its investment platform, begins with the trading of Bitcoin, marking the bank's entry into the burgeoning crypto market. South African Authority Set to Potentially License 36 Crypto Firms in December The Financial Sector Conduct Authority (FSCA), South Africa's primary financial regulator, has examined 128 applications from crypto asset service providers (CASPs). However, they plan to focus on just 36 of these applications in their upcoming meeting scheduled for December, selectively advancing the review process for crypto company licensing. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
