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• FTX and Bitstamp move into stock trading, Gemini pushes for wealth management

• Musk Announces That Tesla (NASDAQ: ) Will Take Doge For Merch

• Block Building Open Mining Systems, Bitcoin Cycle Still a Long Way Off Complete. Rio de Janeiro Will Hold 1% of its Bitcoin Reserves

• ARK Invests In Circle Link Stablecoins and Freezes 150 Million USDT

FTX and Bitstamp move into stock trading, Gemini pushes for wealth management

According to Bitstamp USA, and FTX US crypto exchanges, the companies have been working together on stock trading. President of FTX US, Brett Harrison, explains that the company is “hard at work on stocks,” and users could get the feature in “a couple months.”

Robert Zagotta (CEO of Bitstamp USA) announced that Bitstamp USA will offer stock trading and also consider entering non-fungible tokens, NFTs, or crypto derivatives.

Gemini is another prominent exchange that joins the diversification process with wealth management. The acquisition of BITRIA by cryptocurrency exchange is a digital asset-management platform.

Gemini and BITRIA first partnered in August 2020 to provide an “institutional-grade option.” BITRIA helps advisors manage holdings of bitcoin and other tokens. The move creates one of the industry’s first full-service digital asset custodians for advisors.

Flipsider:

• Experts have predicted that Robinhood (NASDAQ:) could feel the brunt of FTX and Bitstamp’s entrance into stock trading.

Why you should care

Crypto services are expanding rapidly, and digital assets move closer to mainstream acceptance.

Musk announces Dogecoin rallies as Musk Announces That Tesla Will Accept Doge For Merch

It is obvious that Elon Musk (founder and CEO of Tesla) enjoys Dogecoin. In addition to holding DOGE, the Time’s person of 2021 has given his reasons why Dogecoin excels above Bitcoin, the world’s largest cryptocurrency.

Tesla CEO, Elon Musk has announced that DOGE customers will be able to purchase select items with Dogecoin. He has confirmed the December 14th announcement. Cyberquad for Kids can now be bought at a price of 12,020, the Giga Texas Belt Buckle(NYSE:) (835 DOGE), or the Cyberwhistle (30 DOGE).

The memecoin gained over 20% since the announcement and reached an intraday high of $0.19333. DOGE has risen by more than 12% in the past 24 hours and trades now at $0.19281000. Dogecoin ranks 12th in crypto market capitalization, with $25.6 billion.

Dogecoin price chart for 24 hours (DOGE). Source: Tradingview

Flipsider:

• Tesla stopped accepting Bitcoin payments for cars 49 days later, citing concerns over the use fossil fuels to mine Bitcoins

Why you should care

Musk suggested that Dogecoin is his preferred cryptocurrency because it consumes significantly less energy than Bitcoin, and can be used for transaction transactions more efficiently.

Block Building Open Bitcoin Mining System. Bitcoin Cycle Still a Long Way Off Complete. Rio de Janeiro Will Hold 1% of its Bitcoin Reserves

Jack Dorsey (founder and CEO of Block, formerly Square) has just announced his intention to create an open Bitcoin mining platform. This announcement comes days after Block launched a Bitcoin Defense Fund. The project aims to make mining Bitcoin “more distributed and efficient.”

Fidelity Investments reported that the Bitcoin cycle, despite having already mined over 90% of Bitcoins, is not over. Fidelity calls the Bitcoin hashrate recovery after the China ban “truly astounding,” with miners now in “massive” BTC accumulation mode.

Following the lead of Miami, Brazil’s second most populated city, Rio de Janeiro has revealed plans to hold 1% off city reserves in Bitcoin. Additionally, Rio de Janeiro’s administration hinted at discounts being offered to people who pay their taxes in Bitcoin.

Flipsider:

• El Salvador was featured for its Bitcoin purchases. Adoption as a legal tender. Four months on, President Bukele might have suffered a total loss of $10 million to El Salvadorans for trading Bitcoin.

Why you should care

With Bitcoin’s growing popularity, Fidelity believes that proper regulation would lead to more adoption.

Tether Bans 150 Million USDT and ARK Invests In Circle-Linked Stablecoin

On Thursday, Tether, the issuer of the world’s largest stablecoin USDT, announced that it froze three addresses on the blockchain holding $160 million of its assets.

Tether’s representative revealed to law enforcement that the company blacklisted these addresses in response to cyberattacks. Tether helped law enforcement agencies by blocking 563 addresses.

Flipsider:

• Tether still dominates the stablecoin marketplace, however many businesses are taking a liking other stablecoins.
• Cathie Wood’s ARK Invest has announced The purchase of $70.6 million worth of shares in SPAC, which is merging with Circle, the USDC is the issuer, which makes it the second largest stablecoin.