Today, the global crypto market cap stands at $849.32 billion, a fall of 1.37% over the previous day. The total crypto market volume stood at $33.56 billion, again a decrease of 26.68%. This was reflected by the likes of Solana dipping by 2.23% and Polygon falling by 1.42% in the last 24 hours. Most importantly, Bitcoin & Ethereum were down by 1.83 and 1.73% respectively!

The FED’s bearish economic projections continue to impact the crypto market, as focus shifted from inflation to the economic outlook. US economic indicators added to the grim picture, with retail sales falling by 0.6% in November versus a 1.3% increase in October. Chinese economic data also disappointed, showing that retail sales were down 5.9% year-over-year and industrial production up just 2.2% in November. 

Therefore it was no surprise that the NASDAQ tumbled by 3.23% yesterday, and the S&P 500 was down by 2.49%. This morning, the NASDAQ mini was down 3.75 points, a performance correlating with that of the crypto market

Today, investors will focus on the preliminary December manufacturing and service sector PMI numbers due.

Layer-2 chain Aztec Network has announced that it closed a $100 million Series B funding round led by venture capital firm a16z crypto.

In partnership with a16z, the company plans to hire new engineers and build a "next-generation encrypted architecture" that allows users to verify that blockchain rules were followed without revealing any underlying information. Encrypted blockchains allow users to transact with privacy and anonymity.

According to stated Aztec CEO Zac Williamson, “What we’re building is a revolutionary piece of technology that transforms how we interact with each other online, in which the end user is the customer, rather than the product. End-to-end encrypted blockchains protect individuals, obviating the need for centralized financial systems.” 

Aztec is reportedly working on a testnet launch within 12 months, with a full mainnet deployment within 24 months.

In other news,

• MetaMask Launches PayPal Integration for Ethereum Purchases. Read More
• Post-Merge Ethereum Block Builder Blocknative Raises $15 Million. Read More
• FTX wants permission to sell FTX Japan and FTX Europe as well as LedgerX. Read More
• Asia to Get Its First Bitcoin And Ether Futures ETFs Today. Read More
• Trump Launches NFT Card Collection. Read More

Virtua is a games metaverse that provides immersive Web3 gaming and digital collectible experiences through its interactive virtual environments, curated marketplace, and brand partnerships – and we’re now selling land plots and condos in our brand-new metaverse environment, the Monster Zone!

Located on Virtua Island (the latest island to be revealed on Virtua Prime, the first planet in the Virtua metaverse), the Monster Zone is an immersive and terrifying space, where unpredictable surprises lurk in the gloom and darkness. Only the most truly fearless adventurers dare to explore its deepest depths...

Pioneer Land Plots and Condos in the Monster Zone are some of the most prestigious status symbols on Virtua Prime, and come with a range of benefits and perks! More information is available through the Virtua wiki here.

You can also get a 10% discount when minting with $TVK, our native utility token!

‍

MINT NOW

U.S. Senators Elizabeth Warren and Roger Marshall have introduced a new bill to regulate the crypto sector. Known as the “Digital Asset Anti-Money Laundering Act of 2022,” the bill seeks to crack down on money laundering in the crypto industry.

According to a tweet by Senator Warren, “By closing some loopholes and applying some common-sense rules, we can crack down on the ways rogue nations, oligarchs, and drug lords use crypto to launder billions, evade sanctions, and finance terrorism. I’ve got a bipartisan bill for that.”

The legislation directs the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) to designate “custodial and unhosted wallet providers, cryptocurrency miners, validators, or other nodes who may act to validate or secure third-party transactions, independent network participants, including MEV searchers, and other validators with control over network protocols as money service businesses.” Controversially, the legislation would ban every financial institution from making transactions involving privacy tools, such as Tornado Cash, or privacy coins, such as zcash and monero.

In other news,

• “Pro-crypto” France to push for tighter regulations, details inside. Read More
• Dutch central bank says KuCoin is not licensed and 'illegally offering services'. Read More
• Bank of Russia Moves to Safeguard Crypto Companies Against Sanctions. Read More
• Time for Serious Global Crypto Regulation, Germany Says. Read More

Archblock, a core developer of unsecured lending protocol TrueFi, is working with Adapt3r, a subsidiary of alternative asset manager MJL Capital, to bring U.S.-regulated community banks to decentralized finance (DeFi)!

According to a press release, both firms plan to focus on expanding access to on-chain credit products and lowering the cost of capital for traditional financial institutions.

Bill Wolf, Archblock's Chief Investment Officer, stated that "Archblock aims to grow into the most efficient marketplace for the widest possible selection of financial opportunities, and our new relationship with Adapt3r opens a whole new class of assets to DeFi liquidity, attracting an even broader group of global lenders.”

In other news,

• Core Business Holdings goes public in US through ARAX acquisition. Read More
• Ren DAO to vote on plan to mint new funding tokens after Alameda collapse. Read More
• DeFi Protocol Perennial Launches, Announces $12M in Funding. Read More
• Sooho.io Raises $4.5M for Bridging Blockchains. Read More