Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.
Coinbase axes plans to expand into Turkey
Coinbase, a leading cryptocurrency exchange, has withdrawn its pre-application to enter the Turkish crypto market, as indicated by documents released by the Turkish Capital Markets Board (CMB).
Previously, Coinbase was among several prominent companies vying for entry into Turkey's cryptocurrency sector, where over 90 firms have submitted applications within the past year.
Coinbase’s fiat-to-crypto onramp integrates Apple Pay
According to recently released developer documentation, Coinbase, the largest cryptocurrency exchange in the United States, is integrating Apple Pay into its fiat-to-crypto payment services.
The new product, Coinbase Onramp, features a one-click purchasing option designed to simplify funding self-custody wallets. Coinbase noted that using cryptocurrencies often involves significant friction, leading many users to abandon the process altogether.
A Coinbase representative directly informed The Block that the feature was initially rolled out to a select group of clients just before Thanksgiving.
The company's documentation emphasized the challenges users face when onboarding to crypto, including lengthy KYC processes, time-consuming verifications, and the need to navigate multiple applications—factors that can deter potential users.
Changpeng Zhao says he ‘wouldn’t mind a pardon’ from Donald Trump
Changpeng “CZ” Zhao, the former CEO of Binance, has suggested that he would be open to receiving a federal pardon from U.S. President-elect Donald Trump for a felony charge.
In a December 1 response to John Lilic, co-founder of TelosX, on X, Zhao stated that he "wouldn't mind a pardon" from Trump, who is set to be inaugurated as the 47th President of the United States on January 20.
As part of a settlement with U.S. authorities in November 2023, Zhao pleaded guilty to a criminal charge stemming from his failure to maintain an effective anti-money laundering (AML) program at the cryptocurrency exchange. Following his guilty plea, a judge sentenced Zhao to four months in prison. He was released in September, but the federal charge remains on his record, which could affect his future business endeavours.
De-banking Deserves Urgent Attention
Until recently, the issue of de-banking remained a largely hidden concern, known primarily to insiders like myself. In my efforts to protect individuals and entities affected by de-banking in the U.S. and globally, I have witnessed firsthand the severe economic and social consequences of this practice on business owners, nonprofit organizations, and “politically exposed persons.”
However, this situation changed when millions were introduced to de-banking following venture capitalist Marc Andreessen’s appearance on the Joe Rogan Experience podcast. During his discussion, Andreessen highlighted the exclusion of politically disfavored individuals and entities from the financial system, with a particular focus on the crypto-assets industry.
His comments sparked a wave of responses, bringing attention to the broader issue of de-banking in the technology and cryptocurrency sectors. Notable figures such as the Winklevoss brothers, renowned for their contributions to cryptocurrency exchange development, expressed their frustration. David Marcus, the former leader of Facebook’s Libra/Diem project, commented on allegations that U.S. Treasury Secretary Janet Yellen pressured Federal Reserve Chair Jerome Powell to prevent banks from supporting the project. Similarly, Nick Neuman, CEO of Casa, shared his experience of being de-banked by Silicon Valley Bank. Neuman’s company, which provides self-custodial services, faced rejection from nearly 50 banks before finally securing a partnership with one institution.
MARA Announces $700M Convertible Notes Offering to Boost Bitcoin Holdings
MARA Holdings, formerly Marathon Digital, plans to offer $700 million in 0.00% convertible senior notes due in 2030 to qualified institutional buyers.
The company may allow initial buyers to purchase an additional $105 million in notes within 13 days of the issuance.
MARA intends to use up to $50 million of the proceeds from the note sale to repurchase a portion of its 2026 convertible notes through private transactions. As stated in the official press release, the remaining funds will be allocated for acquiring additional Bitcoin and supporting general business needs, including working capital, strategic acquisitions, asset expansion, and debt repayment.
The company expects the notes to be issued with no interest except in rare circumstances where special interest may apply. The principal amount of the notes is expected to remain unchanged. These notes, maturing in 2030, will be convertible into cash, equity, or a combination of both. This approach allows MARA to strengthen its balance sheet by converting short-term liabilities into long-term debt while continuing to invest in digital assets.
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