Brazil Considers Bitcoin Reserves, Ethereum at Its Peak: Cointribune Weekly News

Between revolutionary announcements, technological evolutions, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovations and a battleground of regulatory and economic conflicts. Here is a summary of the most significant news from the past week regarding Bitcoin, Ethereum, Binance, Solana, and Ripple.

In the realm of cryptocurrencies, where innovation and regulatory battles collide, we bring you the latest headlines from the past week. From Brazil's potential Bitcoin reserve to Ethereum's record-breaking profitability and Ripple's stablecoin launch, here's a quick summary of the most buzzing crypto news.

Brazil mulls over Bitcoin reserves, like El Salvador

In a move that could revolutionize Brazil's financial landscape, a proposal aims to create a federal reserve in Bitcoin, dubbed RESBit. Championed by Deputy Eros Biondini, the initiative would allocate up to 5% of national reserves in the digital asset, aiming to shield the economy from monetary fluctuations and geopolitical tensions. Drawing inspiration from El Salvador's example, where Bitcoin has bolstered the national economy, this project could also pave the way for the launch of the Digital Real, the Central Bank of Brazil's digital currency. Integrating blockchain and artificial intelligence technologies, RESBit would prioritize transparency and secure management, while bolstering local crypto regulation. If approved, the proposal would place Brazil among the global pioneers adopting Bitcoin as a strategic tool in their monetary policy.

Continue reading on Cointelegraph

90.8% of Ethereum wallets are in profit now

Ethereum is hitting new heights as data from IntoTheBlock reveals that a record 90.8% of its holders are now in profit, a peak not seen in several months. With prices hovering around $3,570, this dynamic reflects the network's resilience amidst market fluctuations. Meanwhile, November has seen record-breaking stablecoin outflows from exchanges, indicating investors cashing in on profits and anticipating new market movements. These massive flows, coupled with the rise of altcoins, highlight a shift in investment strategies and place Ethereum at the center of attention as a pivotal pillar of the crypto ecosystem.

Continue reading on BeInCrypto

Ripple set to launch its stablecoin: The RLUSD

After obtaining approval from the New York regulator, Ripple is set to launch its stablecoin, the RLUSD, on December 4. Backed by the dollar and designed to offer unmatched transparency and reliability, the stablecoin will be over-collateralized by cash reserves and audited regularly to ensure its credibility. Integrated into both the XRP Ledger and Ethereum networks, RLUSD aims to revolutionize cross-border payments by combining speed and security. As part of its strategy, Ripple also plans to introduce RLUSD on other blockchains, hoping to capture a share of the stablecoin market, which is projected to reach $2 trillion by 2028. While this launch marks a strategic move for Ripple, it raises questions among XRP holders about the company's future priorities.

Continue reading on Cryptonews

Bitcoin reserves on centralized exchanges hit new lows

Continuing a broader trend, Bitcoin reserves on centralized exchanges keep dwindling. From 3.3 million BTC in 2022, the reserves have plunged to 2.5 million in 2024. Coinbase, favored by institutional investors, saw its reserves drop from 993,000 to 790,000 BTC this year, while Binance increased slightly, reaching 586,000 BTC in November. This overall decrease points to the growing adoption of self-custody solutions and reflects a more stable market dynamic.

Continue reading on U.Today

Changpeng Zhao slams memecoins, despite Binance listing

Former Binance CEO Changpeng Zhao has voiced his criticism of the memecoin craze, arguing that it's hampering blockchain innovation. Despite his commentary, Binance continues to list memecoins like WHY and CHEEMS, whose prices crashed drastically after their introduction. This contradiction fuels criticism over the responsibility of platforms in investors' losses and highlights the need for a refocus on innovative and sustainable blockchain applications.

Continue reading on Coin Telegraph

That’s the essential takeaway for this week. But if you want a more detailed recap and in-depth analyses directly in your inbox, feel free to subscribe to our weekly newsletter.

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