☕️ Year of transition for crypto...

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A judge accused the SEC of presenting "false and misleading" evidence in a crypto case.

— Hubert Trinkunas

Bitcoin watch…

Bitcoin hit $42,000, comfortably staying above $41,000. This could mark the onset of a bitcoin-driven bull market, a notable shift from previous surges. In 2021, non-fungible tokens fueled the boom, while 2017 saw initial coin offerings driving enthusiasm. The last time bitcoin's surge was solely driven by enthusiasm was in 2013 when it crossed $1,000.

The current surge is centered around anticipation of U.S. approval for one or more Bitcoin ETFs, potentially opening the floodgates to the wealthiest nation's brokerage accounts. On a broader scale, expectations of Federal Reserve rate cuts next year are boosting commodities, with gold prices reaching new highs over the past two months.

Keep an eye on BTC – if it surpasses $46,300, it could erase the losses of 2022.

CoinDesk unveils most influential 2023 in crypto

CoinDesk has dropped its list of the crypto game-changers who defined 2023 in its "Most Influential 2023." From the hunkering down after 2022's scandals to the rise of Sam Bankman-Fried and regulatory shake-ups, this year's crypto story is a rollercoaster.

Year of transition: 2023 marked a transition and rebuilding phase for the crypto industry post-2022 scandals, with asset prices plummeting, regulatory scrutiny intensifying, and long-standing legal battles reaching conclusions.

Regulatory clarity on the horizon: As the year unfolded, the crypto industry anticipated greater regulatory clarity, with key figures like Sam Bankman-Fried facing legal consequences. The introduction of bills in Congress and MiCA's comprehensive legislation in Europe added to the regulatory landscape.

Bitcoin's resurgence: Bitcoin's price more than doubled from the previous year, signaling a broader acceptance of digital assets. Traditional finance delved into crypto with increased seriousness, engaging in staking and tokenizing real-world assets.

Spot Bitcoin ETFs and mainstream integration: With spot Bitcoin ETFs likely to gain approval, the crypto industry is poised for more mainstream adoption. Millions are expected to join crypto markets, marking a significant shift into mainstream acceptance.

CoinDesk's Most Influential 2023: CoinDesk's "Most Influential" package spotlights 50 individuals shaping crypto narratives. The top 10 features figures like SEC Chair Gary Gensler, Messari CEO Ryan Selkis, and controversial creator Casey Rodarmor, among others.

Diverse influencers across sectors: The list encompasses various industry sub-sectors, including NFTs, DeFi, hardware, and central bank digital currencies. Established names like Ledger CEO Pascal Gauthier and newcomers from traditional finance make the cut.

Reflections on the list: CoinDesk acknowledges the list may not please everyone but aims to capture industry trends and themes. The "Most Influential" serves as a snapshot, not a comprehensive ranking, allowing readers to explore the profiles, artwork, and industry reflections.

Explore the full "Most Influential 2023" list and NFT auction here.

What you should know about how tokenised digital money helps with safer transactions

Trials are underway to explore the use cases of a digital Singdollar, with a focus on purpose-bound money…

Learn how tokenised digital money enhances transaction security and explores the potential of a digital Singdollar in purpose-bound money trials. Discover the challenges faced by merchants in accepting digital vouchers and the benefits of purpose-bound money (PBM) in promoting financial discipline and reducing inefficiencies. Industry experts, including UOB's Janet Young and blockchain specialist Anndy Lian, highlight PBM's role in enhancing payment security, transparency, and traceability. For insights into MAS' Project Orchid and ongoing trials with banks, delve into the full article here.

Vitalik Buterin: Tech's empathetic intellectual

Vitalik Buterin, Ethereum's co-founder, goes beyond blockchain brilliance, becoming a prominent voice on broader tech and societal issues. In his recent essay, "My techno-optimism," Buterin champions cautious AI development, drawing from Ethereum's decentralized model. What sets him apart? Empathy and lack of ego, offering refreshing nuance in tech discussions amid fear and negativity. For a quick dive into his worldview, check out the Fortune Q&A here.

It’s not just electricity — Bitcoin mines burn through a lot of water, too

A recent analysis reveals that Bitcoin mining, known for its energy-intensive nature, also has a significant water footprint. The study, conducted by Alex de Vries, a PhD candidate at Vrije Universiteit Amsterdam, estimates that the water used for a single Bitcoin transaction could fill a small backyard pool. The research indicates that Bitcoin mines, functioning as large data centers, consume approximately 1,600 gigaliters of water in 2021, averaging a small swimming pool's worth for each transaction. With the rising price of Bitcoin, de Vries anticipates a surge in water consumption to 2,300 gigaliters globally this year. The environmental impact of Bitcoin mining, including its water and electricity use, continues to be a concern, and alternatives, such as Ethereum's approach, are suggested for a more sustainable future.