Bitcoin Price: US$ 101,176.30 (+4.71%)
Ethereum Price: US$ 3,831.81 (+5.61%)
OpenAI apologised for a network outage on December 12 that affected ChatGPT and its video generation model Sora, shortly after ChatGPT was integrated into Apple’s Siri. The outage, caused by a configuration change impacting servers, was resolved within hours, with OpenAI confirming the issue was identified and fixed. Similarly, Meta faced a technical issue on December 11 that impacted Facebook and Instagram but claimed to have resolved 99% of the problems shortly after. In Australia, Kraken’s local operator was fined AU$8 million for failing to comply with financial regulations, particularly for offering unlicensed credit products. The Australian Securities and Investments Commission (ASIC) emphasised the need for crypto firms to follow market rules. Meanwhile, Sygnum Bank’s report predicts that institutional inflows could trigger “demand shocks” for Bitcoin in 2025, potentially driving its price up, with Bitcoin’s growth expected to outpace that of altcoins unless the U.S. enacts supportive crypto legislation.
Australia has proposed stricter Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) rules to enhance oversight of high-risk sectors like cryptocurrency exchanges, aiming to curb financial crime. The new framework introduces tighter customer due diligence, reporting obligations, and cross-border asset transfer rules, with feedback from stakeholders expected before finalising the framework in February 2025. In other news, a hacker exploited the “DogeReaper” vulnerability in the Dogecoin network, causing 69% of its nodes to crash using an old laptop in El Salvador, though experts considered the threat’s severity low. In another development, Alipay, China’s leading payment platform, featured Bitcoin-related ads for spot Bitcoin exchange-traded funds (ETFs) despite the country’s anti-crypto stance. This raised concerns about loopholes and prompted experts to predict the ads’ disappearance soon.
Byte Federal, a major US Bitcoin ATM operator, reported a data breach affecting 58,000 customers, exposing personal information like names, IDs, and transaction details. While no assets were compromised, the company reset all customer accounts and initiated a forensic investigation. In Europe, Coinbase plans to delist Tether’s USDT and five other stablecoins by December 30, 2024, due to the Markets in Crypto-Assets Regulation (MiCA). The status of USDT under MiCA remains uncertain as Coinbase prepares to relist compliant stablecoins. Meanwhile, Mass and Synthetix launched a mobile DeFi trading app offering up to 25x leverage for trading leveraged perpetuals. The app targets mobile audiences in the US, Europe, and Asia with features like simplified onboarding and cross-chain gas tanks.
Source: https://cointelegraph.com
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