SEC vs Coinbase. 4 Possible outcomes

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Venezuela's taking a bow from its crypto adventure with Petro. It seems the locals weren't too thrilled about this oil-backed digital escapade, so it's back to good ol' bolivars they go.

Remember when X thought NFT profile pics were the next big thing? Well, they've changed their tune and are back to classic circles. So much for being hip to be hexagonal!

Markets

Bitcoin price crumbles after spot ETF approval, but ICP, TIA, MNT, SEI and altcoins rebound (4 minute read)
So, everyone was buzzing about the Bitcoin exchange-traded funds, thinking it was going to be the next big thing. But, surprise, surprise, when the green light from the regulators didn't send Bitcoin's price to the moon, traders hit the panic button and cashed out, sending it tumbling down to $41,500. Now, some of the analysts are all doom and gloom, talking about a plunge to $25,000 or even less. But hey, in the rollercoaster world of markets, who knows?

SEC vs Coinbase. 4 Possible outcomes (2 minute read)
Oh boy, it's like a courtroom drama over at SEC vs. Coinbase, and guess what? The big showdown is on Wednesday, Jan 17. Think of it like a legal "Choose Your Own Adventure" with not one, not two, but four wild outcomes possible! Twitter’s @MetaLawMan sums them up in this thread!

Tech

X calls it quits on NFT profile pics (2 minute read)
This week, X decided to wave goodbye to its NFT profile pictures, just a year after they made a flashy debut. Under Elon Musk's crypto-enthusiastic leadership, they even tried making these hexagon-shaped beauties a premium thing. But it seems like Musk's love for NFTs has fizzled out. So, for those who were using this feature, it was back to good ol' circles when they opened the app on Wednesday.

Venezuela’s oil-backed cryptocurrency Petro to shut down (2 minute read)
Venezuela's grand crypto experiment with Petro, their oil-backed digital coin, is coming to an unceremonious end. Despite the government's big dreams, it turns out the citizens weren't too keen on jumping on the Petro bandwagon. So, as of Monday, Jan. 15, the crypto wallets on the Patria website (Petro's home turf) are shutting down for good. Any leftover Petro? Poof! It's getting a magical makeover into good old bolivars, Venezuela's traditional currency.

Miscellaneous Links

SEC Statement on the Hack of Its X Account and the Resulting Fake Bitcoin ETF Approval Announcement (3 minute read)

Hong Kong needs to speed up approval of spot cryptocurrency exchange (2 minute read)

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