The top crypto news from December 2022
- PayPal partners with MetaMask developer ConsenSys to make it easy for people to buy crypto.
- FTX founder Sam Bankman-Fried arrested in the Bahamas and faces up to 115 years in prison.
- Former US President Donald Trump launched his NFTs on the Polygon blockchain.
One of the main reasons why cryptocurrency is becoming more and more popular is because of the ability to restrict access to your personal information. From buying physical goods, digital goods, investing, refinancing or making donations, cryptocurrency is the way to go.
If you plan to continue using cryptocurrency or you are just a beginner, then you need to stay up to date with the latest trends and news. Here is a review of the month’s latest news.
Current top 10 cryptocurrencies from December
Bitcoin is the most famous cryptocurrency since its launch in 2009, but now you have many other options to choose from to diversify your crypto portfolio.
Right now the most popular cryptocurrencies are:
1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Tether (USDT)
4. Binance Coin (BNB)
5. US Dollar Coin (USDC)
6. Binance USD (BUSD)
7. XRP (XRP)
8. Dogecoin (DOGE)
9. Cardano (ADA)
10. Polygon (MATIC)
Popular Crypto Wallets in December
When choosing a crypto wallet, you need to distinguish between hot and cold options.
Hot crypto wallets can be desktop, mobile or web-based applications, which require an internet connection and are therefore more susceptible to hacking and theft.
Cold crypto wallets are hardware wallets that help keep your private keys safe from hackers because they are not connected to the internet, and usually have a PIN as an extra layer of security.
Here are some options based on their popularity.
The most popular hot wallets in December were:
1. Coinbase Wallet
2. SafePal
3. Crypto.com DeFi Wallet
4. Exodus
5. Coinbase dApp Wallet
While the most popular cold wallets were:
1. Ledger crypto wallet
2. Trezor
3. Ellipal Titan Crypto Wallet
PayPal wants to offer easier ways to buy crypto with the MetaMask crypto wallet
The partnership between payments company PayPal and MetaMask developer ConsenSys is trying to enable users to choose their PayPal accounts as a payment option to buy Ether (ETH) from the MetaMask app. The offer is designed to facilitate seamless purchases and transfers of Ether from PayPal to MetaMask.
This service from ConsenSys will initially be rolled out to some selected PayPal users who are within or based in the United States.
Former FTX CEO Sam Bankman-Fried is in custody and faces up to 115 years in prison in the US
Sam Bankman-Fried, the founder and former CEO of FTX, has been arrested and detained in the Bahamas. Bankman-Fried was indicted on eight charges that include wire fraud of various types and conspiracy to defraud the United States.
The eight charges issued by the United States Attorney’s Office, Southern District of New York, against Samuel Bankman-Fried are as follows:
1. Conspiracy to commit wire fraud on customers
2. Wire fraud on customers
3. Conspiracy to commit wire fraud on lenders
4. Bank fraud on lenders
5. Conspiracy to commit fraud in goods
6. Conspiracy to commit securities fraud
7. Conspiracy to commit money laundering
8. Conspiracy to defraud the United States and violate campaign finance laws
According to CNN, if Sam Bankman-Fried (also known as “SBF”) is convicted of all eight counts, he could end up with a monumental 115-year prison sentence.
Trump lanserer NFT Card Collection
The former 45th President of the United States, Donald Trump announced the launch of his new non-fungible token (NFT) trading cards on December 15, 2022. Trump’s NFT trading cards are created using the Polygon blockchain because the network “describes itself as environmentally friendly and carbon neutral , which makes it better for the environment.”
This came as a surprise given Trump’s previous opposition to cryptocurrency. He called Bitcoin a “fraud”. He also stated: “I am not a fan of Bitcoin and other cryptocurrencies, which are not money and have value that is highly volatile and based on thin air”, in a tweet dated July 2019. “Unregulated cryptoassets can facilitate illegal behavior, including drug trafficking and other illegal activity”.
Trump’s website clarifies that the cards are only “intended as collectibles for individual enjoyment only, not for investment“.
Questions you should ask yourself before buying crypto in 2023
Don’t forget to ask yourself some questions and do a thorough research before creating your 2023 crypto strategy.
Some questions to guide you: Should you be involved in crypto investing or trading? How to manage risk in the crypto market? How to set smart crypto investment goals? How to choose a crypto to invest in? How to choose a safe crypto exchange to trust and put your money in? How is the crypto tax situation in Norway?
Have a nice Christmas and a happy New Year!
