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Summary of Past Week Articles December 16, 2022

Donald Trump, a billionaire, and former US president, has launched the official NFT project. This is What You Should Know:

Donald Trump, the 45th President of the United States, has produced his first set of non-fungible tokens (NFTs) depicting him as a superhero, astronaut, and cowboy. The collection, dubbed “Trump Cards,” is only available on CollectTrumpCards.com.

He said the $99 (£81) cards would make a terrific Christmas gift.

Buyers will also be placed into sweepstakes to win prizes such as a gala dinner or a round of golf with Trump.

Notably, the website states unequivocally that monies received through NFTs will not be utilized for Donald Trump’sTrump’s presidential campaign. According to OpenSea data, the entire collection has indeed sold out.

His big news was ostensibly the launch of his NFT collection, which some prominent Republicans and followers have criticized on social media.

As previously reported, Melania Trump, the previous First Lady of the United States, unveiled her NFT collection in mid-December 2021.

Following the denial of his first bail request, Sam Bankman-Fried has made a new bid for bail:

According to two news sites, the FTX/Sam Bankman-Fried tale continues: the exchange founder submitted another bail request barely two days after his first one was denied.

Bankman-Fried, the former CEO of the enormous disaster that became the FTX exchange, applied for bail in The Bahamas Supreme Court on Friday, according to Reuters, citing a source familiar with the situation.

The new application comes just two days after a judge denied Bankman-bail Fried’sFried’s plea on Tuesday.

As a result, the disgraced founder is currently detained in the Bahamas until February 8 while awaiting a hearing on his extradition to the United States after Chief Magistrate JoyAnn Ferguson-Pratt dismissed an earlier request for Bankman-Fried to stay at home.

According to reports, the conditions at Fox Hill were classified as “severe” in a 2021 US State Department assessment.

At 10:30 UTC on Friday morning, FTX’s native FTT coin was trading at $1.31, down 3.3% in a day and 4.1% in a week. Bankman-Fried was detained in the Bahamas on December 12 after US authorities formally charged him with financial offenses.

Crypto Adoption: MetaMask Wallet Partners with PayPal to Allow Customers to Purchase ETH Directly:

ConsenSys, the creator of the famous crypto wallet MetaMask, has partnered with PayPal, ushering in a new era of crypto acceptance.

The Ethereum (ETH) software business announced on Wednesday that mobile MetaMask users in the United States would be able to acquire ETH from within the MetaMask app using PayPal – that is, they will be able to buy and transfer this cryptocurrency from PayPal to MetaMask.

For the time being, this choice is relatively limited, with the business claiming that this new functionality is now available to select US consumers and will be available to all eligible US customers in the coming weeks.

According to the press release, it will be the first Web3 wallet to use PayPal to boost on-ramp transaction success.

PayPal is one of many to do so. This is the most recent in a long line of PayPal integrations and extensions this year. PayPal stated in June that it had permitted its US clients to transfer crypto assets from their accounts to external wallets and exchanges. 

In October, Bitstamp incorporated PayPal to allow millions of consumers to purchase, sell, and trade cryptocurrency through a secure, regulated platform.

Recently, PayPal announced that it would expand its crypto service to Luxembourg, allowing eligible clients to buy, trade, and store Bitcoin (BTC), Ethereum, Litecoin (LTC), and Bitcoin Cash (BCH) in their PayPal accounts via the website or mobile app.

Russian Energy Providers Enforce A ban on Domestic Crypto Miners:

According to the authorities, Russian energy companies are looking for illicit crypto miners who work from home.

According to Izvestia, Deputy Energy Minister Pavel Snikkars noted that some “home”-based miners have successfully modified the load profile of their electrical connections, allowing them to provide more power to their rigs.

The nation’snation’s government has yet to ratify crypto mining rules, while MPs have claimed that it could be voted on next week, clearing the door for industrial mining to be permitted in early 2023.

The sector-regulatory measure may also seek to punish unregistered crypto-mining initiatives.

Many people have requested the country’scountry’s courts to assist them in prosecuting people who use subsidized “home-rate” electricity to run crypto mining machines. As a result, the miners have been forced to pay industrial rates for the power they use to generate bitcoin.

According to Russian energy companies, a property that houses crypto mining rigs might consume up to 40% more electricity than the average.

Martin Shkreli Claims to Know Bitcoin Creator Satoshi Nakamoto’s True Identity – Here’s His Proof:

Martin Shkreli, the disgraced biotech entrepreneur and hedge fund manager, has presented a discovery that proves who the genuine person behind the pseudonym Satoshi Nakamoto is.

However, the Bitcoin community is still skeptical.

Shkreli revealed the discovery in a blog post published on Tuesday, where he decoded a signature from one of the earliest Bitcoin transactions ever completed.

Bitcoin developer Satoshi Nakamoto transmitted the first transaction to American programmer and cypherpunk community member Hal Finney.

The address was last used in 2017, and Hal died in 2014. So, according to one comment, someone could have Hal’s key. The same person then accused Shkreli of being used to promote that untruth while also asking who provided him the message and who signed it.

Although many commenters doubted Satoshi Nakamoto’s true identity, some support the theory.

Binance’s CEO may face money laundering charges:

Binance and its CEO and founder, Changpeng Zhao, also known as CZ, are facing prosecution in the United States for money laundering conspiracy and other offenses. The possible charges are still only possible at this time, with opinions on the allegedly varied inside the US Department of Justice (DOJ).

According to Reuters, the DOJ has been investigating Binance, the world’s largest crypto exchange by trading volume, since 2018.

The inquiry is allegedly centered on Binance, CEO Changpeng Zhao, and other unnamed exchange executives.

According to three of the sources quoted in the Reuters report, a potential plea deal has been discussed between Justice Department officials and Binance attorneys.

Binance is coming under more scrutiny and has come under increased criticism in the weeks since competitor exchange FTX went bankrupt, with some arguing that Binance uses many of the same business practices as FTX.

It was revealed earlier this week that Binance’s new proof-of-reserves report has already raised warning flags, with some experts suggesting more is needed to reassure concerned users.

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