CryptoWatch brings you a merry round-up of the top news in the cryptocurrency industry from last week, with the top of the stories centering on Elon Musk's massive shift towards an in-app payment service for X. There were also the latest fines for Binance and its for previous CEO from the CFTC, setting them as much as $2.7 billion and $150 million respectively.
This week, we are also getting a roundup of the top prices in the crypto industry, seeing its week's performance for all to enjoy.
Elon Musk's X Set to Bring In-App Payments in 2024
The Everything app known as X is getting a massive upgrade next year, as there are revelations from the owner, Elon Musk, via his latest X Spaces revelation. In a conversation with Cathie Wood from ARK Invest, he revealed that they plan to launch an in-app payment system via the platform in mid-2024, available directly to its users.
Massive speculations also rose regarding the platform's cryptocurrency integration, centering on Musk's renowned fondness of Dogecoin, but it was yet to be confirmed whether these coins will be available.
In his X Spaces revelations, he told Wood about the company's plans regarding this new feature, with X already submitting all the necessary files for licensing needs.
Binance and Zhao's Massive CFTC Fines
Binance is facing massive legal issues. This week, it faced another fine from a US government agency, the Commodity and Futures Trading Commission (CFTC), alongside its previous executive.
Binance was fined $2.7 billion to pay the CFTC, with $1.35 billion as its penalty to the company, and the other half ($1.35 billion) will center on compelling Binance to return the "ill-gotten transaction fees" from before.
CFTC revealed that Binance CEO Changpeng Zhao, who recently faced criminal charges and was banned from the company, is also facing a $150 million fine to pay. However, the former executive will be allowed to see a $50 million credit that may be deductible from his CFTC civil monetary fine, provided that certain terms will be met.
Top Prices of Crypto Now
After last week's slight drop in the market, the top cryptocurrencies are now rallying back to increased and improved charts. From the listings on CoinMarketCap's charts, improvements were seen, and it is a delight for all investors or holders of coins, particularly during this Holiday season, making it a "Merry" Christmas for all investors looking to either sell or invest.
- Bitcoin (BTC) - Price: $42,884.24 | 3.63 percent increase over the past seven days
- Ethereum (ETH) - Price: $2,260.88 | 3.09 percent increase over the past seven days
- Tether (USDt) - Price: $1.00 | 0.12 percent increase over the past seven days
- Solana (SOL) - Price: $109.39 | 52.75 percent increase over the past seven days
- Binance Coin (BNB) - Price: $263.89 | 10.15 percent increase over the past seven days
- XRP - Price: $0.6115 | 0.03 percent decrease over the past seven days
