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| Here is a quick look at the hits from the week's first Inside Cryptocurrency newsletter: - Santander Private Banking International's new crypto trading service for wealthy Swiss customers,
- Astrobotic's plans to send physical Dogecoin to the Moon in December,
- The ups and downs in the WLD token's price following Sam Altman's departure from OpenAI, and more.
Enjoy your reading! Doğa
p/dogayurduneri | |
| 1 | | The U.S.-based trading firm Jump Trading has recently cut its ties with cross-chain protocol Wormhole. The move came after the crypto market saw a consistent downward trend in trading volumes despite a rise in token prices. More: - As part of the departure, many senior Wormhole employees, including CEO Saeed Badreg and Chief Operating Officer (COO) Anthony Ramirez, left Jump Trading to operate Wormhole as an independent entity.
- Before the split, Wormhole operated under the roof of Jump Crypto, the digital asset-focused arm of Jump Trading.
- The move caused the workforce of Jump Crypto to reduce by half after reaching a peak of around 150 in 2022.
- The project was originally developed by the team of Certus One, a crypto firm acquired by Jump Trading in 2021.
- The protocol serves as a crypto bridge that links different blockchains to make transactions easier and allows developers to build decentralized applications (dApps) covering the entire blockchain ecosystem.
Zoom Out: - On the other hand, Wormhole was hacked for $320M by malevolent actors in February 2022 through the breach of security vulnerabilities in its software.
- At the time, Jump Trading compensated for the stolen funds within a day.
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| 2 | | 
What the numbers say: Former OpenAI CEO Sam Altman's crypto project, Worldcoin, has seen significant ups and downs in the price of its native token, WLD, over the weekend. From Nov. 17 to 20, the token's value ranged between $1.83 and $2.65. The popular cryptocurrency opened the weekend with a downward trend before retreating to as low as $1.83. Then, it turned back to its average levels. However, within the past 24-hour period, the token experienced a jump in price and increased to as much as $2.65. This upward trend was also followed by a return to the average prices. Relevance: The fall in WLD's price at the beginning of last weekend came shortly after Sam Altman was fired as CEO of OpenAI by the company's board of directors. At the time, the board cited a deliberate review process, adding that it no longer has confidence in Altman's ability to continue leading OpenAI. The firm's co-founder, Greg Brockman, was also removed from the board alongside Altman. The WLD token reacted to the surprising announcement of the board negatively with a sudden price decrease. Brands that should care: On the other hand, Microsoft, one of the biggest investors in OpenAI, has recently announced that both Altman and Brockman will join the tech giant to lead the new advanced AI research team. The announcement was made directly by Microsoft CEO Satya Nadella. Meanwhile, OpenAI hired Twitch co-founder Emmett Shear as its new CEO. Altman's joining Microsoft also created a reaction in the WLD token, increasing its price to as much as $2.65. | | | |
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| 3 | | Santander Private Banking International, a unit of Spanish banking giant Banco Santander, has started offering trading and investment services for Bitcoin (BTC) and Ether (ETH), the two largest cryptocurrencies by market cap, to wealthy clients in Switzerland. In an official email, the bank's head of crypto and digital assets, John Whelan, said the Swiss regulations provide clarity and a comprehensive regulatory environment for their clients. More: - Santander Private Banking International will begin offering the same services for additional cryptocurrencies that meet its screening requirements over the next several months.
- The services will be only offered upon client request made through relationship managers.
- The clients' digital assets will be held through a regulated custody model, with the bank storing the private keys in a secure environment.
- The 160-year-old Banco Santander currently caters to 166 million clients worldwide.
Zoom Out: - Over the past few years, many other traditional banking giants, including HSBC, Standard Chartered, BNY Mellion, Deutsche Bank, DZ Bank, and Société Générale, also made their first foray into the digital asset market, launching crypto-related services.
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| 4 | | Payment processing giant Mastercard has partnered with AI firm Feedzai to improve the ability to detect and prevent fraud activities in the crypto space. As part of the partnership, Feedzai's technology will be integrated into Mastercard's CipherTrace Armada platform. More: - Feedzai mainly aims to combat money laundering and financial scams using AI.
- Mastercard's CipherTrace Armada tool is also used by banks to monitor transactions from over 6,000 crypto exchanges to detect suspicious activities like fraud and money laundering.
- The tool originated from Mastercard's acquisition deal signed to buy the U.S.-based blockchain firm CipherTrace in 2021.
- The collaboration will see Feedzai's infrastructure monitoring the data provided by CipherTrace Armada to enable real-time alerts about suspicious crypto transactions.
- Feedzai estimates that 40% of scam transactions emerge directly from a bank account to a crypto exchange.
- The AI firm also says its software can identify and block suspicious transactions in nanoseconds.
Zoom Out: - Mastercard is the second-largest payment processing company behind Visa.
- Over the last years, the firm has partnered with many crypto-related firms, including MoonPay, Bitso, Gemini, Binance, Ripple, Consensys, Fireblocks, and Fluency, as part of its efforts to make crypto mainstream.
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| 5 | | Japan-based Osaka Digital Exchange Co. has announced that it will start offering trading services for digital securities next month. The service will mark Japan's first digital securities trade. More: - Real estate firms Ichigo Inc. and Kenedix Inc. will issue security tokens for the service.
- Ichigo Inc. will sell around $20.1M of securities backed by property investments.
- The service will launch on Dec. 25.
Zoom Out: - Security tokens refer to the digital version of traditional investment instruments like stocks, bonds, real estate, and other securitized assets.
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| 6 | | The team behind the popular cryptocurrency Dogecoin (DOGE) has announced that Astrobotic, a U.S.-based private company developing space robotics technology for lunar and planetary missions, would send a physical DOGE memento to the Moon. The announcement pointed out that the token will be launched into space as part of Astrobotics' Peregrine Mission 1 (PM1) on Dec. 23. More: - As part of the mission, the physical Dogecoin will be included in one of the moon capsules within the DHL MoonBox payload.
- The payloads will be launched through United Launch Alliance's (ULA) Vulcan Centaur Rocket.
- The initiative mainly originates from a fundraising campaign started by the Dogecoin community in 2015 to literally send the popular token to the Moon.
- The mission will carry 21 payloads in total from various entities like governments, companies, universities, and NASA.
- The payloads will also include a physical Bitcoin (BTC) sent under the sponsorship of the crypto exchange BitMEX and a copy of the Genesis Block, the first block of Bitcoin ever mined, commissioned by Bitcoin Magazine.
Zoom Out: - Elon Musk-led space transportation company SpaceX also previously attempted to send a satellite entirely paid with DOGE to the Moon aboard Falcon 9 rocket as part of a mission dubbed DOGE-1.
- However, the mission, announced in 2021, has yet to commence and is still pending.
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- Bullish, a crypto exchange run by former New York Stock Exchange (NYSE) President Tom Farley, has acquired crypto-focused media outlet CoinDesk in an all-cash deal.
- Bitcoin advocate Javier Milei has won the presidential election in Argentina, becoming the new president of the country.
- Decentralized crypto exchange dYdX has experienced a cybersecurity incident that caused the platform to lose $9M from its insurance fund, representing around 40% of the total.
- Financial services giant Fidelity Investments has submitted an application to launch an Ether (ETH) exchange-traded fund (ETF) in the U.S., nearly a day after the investment management company BlackRock applied for its own ETH ETF.
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 | Staff Writer | | Doga is a tech and science editor who has been writing news for nearly 10 years. She worked for leading tech platforms and mainstrem media channels as an editor and presenter throughout his career. Then, she carried her know-how to more than one platform. She is a part-time cat lover and binge-watcher, and also fond of science, space, and emerging tech. She always has a story to tell. She is a bit addict to the laughter and -unfortunately- the '90s culture. | | This newsletter was edited by Aaron Crutchfield | |
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