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Crypto SWOT: The Swedish government wants the EU to ban crypto mining

Commentaries & Views


  • Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Mars Space X (MPX), rising 1,594,336.52%.

  • one, a software company backed by Peter Thiel and hedge fund managers Alan Howard and Louis Bacon, will offer trading on Bitcoin, Ether, Eos and USDC. The platform isn't available in the U.S. just yet but will be open in other countries including the U.K., Germany, and Brazil, according to a recent Bloomberg article.

  • Bloomberg reports this week that MercadoLibre, an Argentine marketplace company, will offer Bitcoin, Ethereum and Pax Dollar (USDP) trading next week to a select few Brazilian clients. Through a partnership between Mercado Pago and Paxos, the goal is to eventually offer cryptocurrency trading to around 20 million clients throughout Brazil.


  • Of the cryptocurrencies tracked by CoinMarketCap, the worst performer for the week was Spice DAO (SPICE), down 100.00%.

  • Cryptocurrency company executives have been called to testify in U.S. Congress, according to an article published by Cryptopolitan. The meeting will take place next Wednesday, December 8. This meeting could result in either heavy regulations on the cryptocurrency market or new developments in cryptocurrency trade.

  • At the Sohn conference in Sydney this week, billionaire investor Charlie Munger says he wishes cryptocurrencies had "never been invented,' and that he admires China for banning them, writes CNBC. "I don't welcome a currency that's so useful to kidnappers and extortionists…nor do I like just shuffling out billions of dollars to somebody who just invented a new financial product out of thin air," Munger added.


  • 2TM Participacoes SA, the owner of the biggest Brazil-based cryptocurrency brokerage, raised $50 million dollars as it hunts for acquisitions to expand into other Latin American markets. The company is backed by Softbank Group Corp, 10T Holdings, and Tribe Capital, according to Bloomberg. The proceeds will be used for new products and growth, including expanding into Chile, Colombia, Mexico, and Argentina, according to 2TM co-founder Gustavo Chamati.

  • Ether is outperforming Bitcoin by a large amount this year, since the native token of the Ethereum network's launch in 2015. Ether has gained about 530% since December, compared with a doubling in value by Bitcoin. This widens the performance gap between the two by more than 400 percentage points.

  • American Latino rapper, Pitbull, has reportedly signed a multiyear deal with music oriented NFT platform OneOf, to facilitate the NFT sale and purchase, according to a recent Bloomberg article. The platform is diversifying its artist portfolio and has deals with artist from all genres.


  • BadgerDAO, a decentralized finance platform, suffered a $120 million hack this past Wednesday, reports The Verge. Users claimed that they were sent notifications about allowing new permissions while carrying out activities on the platform. According to the investigation team, the malicious code the hackers used to drain wallets appeared as early as November 10, running the code at seemingly random intervals to avoid detection.

  • The SEC is charging a man for defrauding crypto investors out of $7 million, writes Bloomberg. The agency filed a civil complaint against Ivars Auzin for running two fraudulent digital asset securities offerings. Auzin, a citizen of Latvia, allegedly used fake names, profiles, and fabricated entities to carry out the fraud against U.S. and foreign investors.

  • The Swedish government wants the European Union to ban cryptocurrency mining, reports Fortune. The government of Sweden believes that Bitcoin mining isn't just bad for the climate, but it's bad for worldwide efforts to convert the global energy system to renewables. Currently, Bitcoin mining emits as much CO2 as the entire country of Ireland or Greece, the article claims. Sweden argues that Bitcoin production devours electricity that's sorely needed to wean bigger industries from fossil fuels, potentially forcing host nations to import dirty energy from abroad, making carbon emissions far worse.
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