Trump launches a new NFT collection

Hello, and welcome to De.Nomics newsletter, your daily digest to stay ahead in the world of Web3 and decentralized technologies at a regional focus. Today, we have plenty of trending news and stories. So, get your cup of tea and some biscuits, and let’s go ahead.
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The Blends Briefs
TL’DR: Here’s a sneak peek into today’s newsletter

• Trump launches a new NFT collection.

• JP Morgan: 50% chance of approval of Ether ETF by May.

• Crypto crime down 29% in 2023.

• BlackRock becomes the first Bitcoin ETF provider to reach $1B AUM.

• China formsa Metaverse working group.

• EU provisionally agrees on stricter due diligence rules for crypto firms.

• Dictionomics: Crypto Wallets

Global Biscuits

Trump launches a new NFT collection.

Former U.S. President Donald Trump is launching a new NFT collection, the Ordinals collection, inscribed on the Bitcoin blockchain. The collection features 200 NFTs with images from the Trump MugShot collection, available for purchase with Wrapped Ethereum on Magic Eden. The first 200 buyers who purchase 100 Trump NFTs in a single transaction will receive a "one of one" inscription and two VIP tickets to a Mar-a-Lago event hosted by Trump. The NFTs are non-transferable until December 31, 2024. This move follows Trump's previous forays into digital collectibles, including the MugShot Edition on the Polygon network and the sale of 1,075 ETH in December. The Collect Trump Card Twitter account emphasized that the NFTs are for entertainment purposes only, not as investment vehicles, and are not politically affiliated.

JP Morgan: 50% chance of approval of Ether ETF by May.
JPMorgan has stated that there is no more than a 50% chance of the Securities and Exchange Commission (SEC) approving a spot Ether (ETH) exchange-traded fund (ETF) by May 23. The deadline for the Ark 21Shares application has fueled optimism in the market for the approval of a spot Ether ETF. However, JPMorgan's analysts are skeptical, citing ongoing lawsuits against crypto exchanges offering staking services for proof-of-stake blockchains, including Ethereum. The analysts believe these lawsuits make the approval of a spot Ether ETF more challenging until the legal issues are resolved.

Crypto crime down 29% in 2023.
The amount of cryptocurrency stolen through scams in 2023 decreased by nearly a third compared to 2022, with illicit revenue overall down more than 54%, according to a report by Chainalysis. The report noted that stolen cryptocurrency accounted for 0.34% of total on-chain transactions in 2023, totaling $24.2 billion, compared to 0.42% or $39.6 billion in 2022. The decline in 2023 figures was attributed to a decrease in scams and did not include the FTX exchange creditor claims that were part of the 2022 total. While Bitcoin remains prominent, stablecoins are now more favoured by cybercriminals for illicit transactions.

BlackRock becomes the first Bitcoin ETF provider to reach $1B AUM.
BlackRock's spot Bitcoin (BTC) exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), reached $1 billion in assets under management (AUM) within its first week of trading. IBIT's holdings consist of 99% Bitcoin and nearly $60,000 in fiat. The ETF has a long-term commitment to providing investors access to a high-quality ETF, according to Robert Mitchnick, Head of Digital Assets at BlackRock. The fund closed at $24.41 and traded at a slight premium of 0.42% relative to spot Bitcoin, with an average daily trading volume of 14 million shares.

Tastes of the regions

China formsa Metaverse working group.
China has established a working group to promote standardization in the metaverse sector, comprising representatives from the government, academia, and corporations. Members include tech giants like Huawei, Ant Group, Tencent, Baidu, NetEase, and Sense Time. The move is part of China's effort to set industrial standards for the metaverse industry, addressing issues like terminology and reference architecture. The Ministry of Industry and Information Technology (MIIT) expressed the need for consensus on the definition of the metaverse and emphasized the importance of reducing redundant investment costs and fostering collaborative development.

EU provisionally agrees on stricter due diligence rules for crypto firms.
The European Council and Parliament have reached a provisional agreement on new anti-money laundering measures, including stricter rules for cryptocurrency firms. If approved, these rules would apply to "most of the crypto sector" and would require due diligence on transactions worth at least €1,000 ($1,090). The agreement also addresses risks associated with transactions involving self-hosted wallets. The proposal will need approval from the European Parliament before formal adoption and entry into force. The move follows the European Banking Authority's extension of anti-money laundering guidelines to the crypto sector earlier this week.

Dictionomics:   Crypto Wallets

Crypto wallets are applications or devices that enable users to store and access their digital currencies. Some of the most widely used crypto wallets are Coinbase, Ledger, Trezor and Exodus. Coinbase is a web-based crypto wallet that also acts as a trading platform and a service provider. Ledger and Trezor are hardware crypto wallets that offer high security and compatibility with various coins. Exodus is a desktop or mobile crypto wallet that has an intuitive interface and a built-in exchange feature. These are some of the many crypto wallets that users can choose from depending on their needs and preferences.

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