The global real estate market, valued at $379.7 trillion in 2022, stands as one of the largest in the world. With blockchain technology now playing a growing role, property rights can be tokenised, automating the buying, selling, and transferring processes. This transformation not only increases efficiency but also enhances liquidity within the market.
Tokenising real estate enables fractional ownership, allowing smaller investors to access a traditionally exclusive asset class. By breaking down ownership into tradable tokens, blockchain opens up opportunities for a broader range of participants, particularly those facing barriers to homeownership such as high prices and inflation.
Additionally, blockchain enables faster processing times for transactions and eliminates intermediaries, reducing costs for investors. Real estate tokens are already being used in projects like the “World Liberty” token, backed by Donald Trump Jr., showcasing how blockchain could reshape the industry by integrating real estate with decentralised finance.
With the market for tokenised assets predicted to reach between $10 trillion and $16 trillion by 2030, real estate tokens are expected to revolutionise investment options, making the sector more dynamic and accessible.
Bitcoin surged to a record $106,509 on Sunday before settling at $103,804.71 on Monday as investors watched for an expected interest rate cut from the Federal Reserve later this week. The flagship cryptocurrency is up nearly 8% this month and an astonishing 145% for the year, reflecting growing confidence in its future. Ether also rose, approaching the $4,000 mark, while the broader crypto market remained steady.
Anticipation of a 25-basis-point interest rate cut has fuelled optimism among Bitcoin investors. Lower rates, which weaken the dollar and expand the money supply, have historically correlated with higher Bitcoin prices. Bitcoin’s performance is now likened to tech stocks, which also thrive in low-rate environments.
Meanwhile, shares of MicroStrategy jumped 4% after the company announced its inclusion in the Nasdaq 100 and QQQ ETF. This news further bolstered market sentiment, as institutional interest in Bitcoin and related stocks continues to rise.
Texas has taken a bold step towards Bitcoin adoption with Republican State Representative Giovanni Capriglione introducing a bill to establish a state Bitcoin reserve. The legislation, submitted during a 12 Dec. X Spaces event, proposes collecting taxes, fees, and donations in Bitcoin to safeguard against inflation and promote financial resilience. Capriglione emphasised flexibility, aiming to make the bill as adaptable as possible to secure support from policymakers.
The push for Bitcoin adoption follows Donald Trump’s Nov. 6 political success, which spurred renewed enthusiasm for cryptocurrency. Trump has pledged to maintain America’s 207,000 Bitcoin holdings, while other states, such as Alabama, have also begun exploring their own Bitcoin reserves. The trend has gained traction with several states passing laws protecting crypto mining, self-custody, and peer-to-peer transactions.
While proponents argue for Bitcoin’s long-term benefits, critics like Charles K. Bobrinskoy caution against government adoption, labelling Bitcoin as a speculative bubble. However, institutional interest continues to grow, with firms like BlackRock and Kraken recommending limited Bitcoin allocations as digital assets become increasingly central to investment strategies.
Russian authorities have arrested over 300 individuals in Moscow during a major crackdown on an alleged international cryptocurrency scam ring. The Ministry of Internal Affairs revealed that the group operated several fraudulent call centres, using around 500 workstations to target victims in over 20 countries. The suspects reportedly persuaded individuals to invest in fake cryptocurrency platforms before disappearing with their funds.
Investigators believe the ring was tied to a broader international network led by Yegor Burkin, a fugitive associated with the Khimprom organised crime group, also known for drug smuggling activities. Police claimed that some stolen funds may have been used to support the Ukrainian Armed Forces, adding a geopolitical angle to the case.
Officials highlighted the increasing sophistication of crypto scams, with fraudsters using spoofed phone numbers, fake documents, and professional terminology to appear legitimate. The Ministry warned that such scams are on the rise, with many targeting foreign nationals and employing multilingual staff to reach victims worldwide.
Ukraine is making significant progress towards legalising cryptocurrency, with a draft law set to be ready for its first reading by early 2025. Danylo Hetmantsev, head of the Ukrainian Parliament’s Committee on Finance, Tax, and Customs Policy, confirmed that the legislation is being developed in collaboration with the National Bank of Ukraine and the International Monetary Fund.
The proposed law aims to regulate cryptocurrency transactions and introduce taxation similar to securities. Profits from digital assets will be taxed only when converted into fiat currencies, avoiding tax exemptions to prevent potential misuse. European experts and the IMF have provided input to shape Ukraine’s cautious approach to the emerging market.
Ukraine’s journey towards crypto adoption has been accelerated by its reliance on digital assets during the Russian invasion, receiving millions in crypto donations for humanitarian and military purposes. With the first reading of the bill expected after the New Year, the country is aligning its regulations with international standards, including FATF compliance introduced in late 2023.
El Salvador has signed a mutual agreement with Argentina to advance their digital asset industries through collaboration and training. The partnership, announced by Juan Carlos Reyes, president of El Salvador’s National Commission of Digital Assets, pairs Argentina’s innovative blockchain sector with El Salvador’s expertise in digital regulation.
The agreement focuses on sharing knowledge and refining regulatory frameworks, with Reyes highlighting the benefits of cooperation. He noted El Salvador’s early adoption of digital asset regulations and its ongoing discussions with over 25 other nations for similar collaborations.
Reyes urged global regulators to act swiftly in creating effective crypto rules, warning against delays that could expose the industry to scams and financial crimes. El Salvador’s commitment to cross-border partnerships aims to foster global progress in the digital asset market.
Google’s latest quantum chip, Willow, has stirred discussions in the cryptocurrency world. Capable of completing a computation in minutes that would take supercomputers billions of years, Willow raised concerns over its potential to breach Bitcoin’s encryption, which secures the $2 trillion blockchain. Bitcoin’s price briefly dipped after the announcement but quickly recovered.
While the crypto community acknowledges the theoretical risks of quantum computing, panic remains subdued. Developers, including Ethereum’s founder Vitalik Buterin, suggest that blockchains can be updated to resist quantum threats, just as Bitcoin was improved with the Taproot upgrade in 2021.
For now, the threat seems distant. Willow’s achievement, though impressive, lacks immediate commercial applications. Experts agree the crypto industry has time to adapt before quantum computing poses a genuine risk.
Casa, a crypto custody company, has unveiled a new self-custody option called Praetorian, aimed at helping sovereign nations securely manage their Bitcoin reserves. The service uses multi-signature vaults spread across various jurisdictions, ensuring high levels of security and autonomy. Casa’s CEO, Nick Neuman, stated that self-custody gives nations complete control over their reserves, offering peace of mind even if the company ceases to operate.
The idea of Bitcoin as a strategic reserve is gaining traction. Investor Anthony Pompliano highlighted the global race for Bitcoin, noting how its scarcity could drive nations to secure their share. Recently, US Senator Cynthia Lummis proposed converting some gold holdings into Bitcoin, while Vancouver Mayor Ken Sim suggested Bitcoin could serve as a treasury asset to protect against inflation.
At the Bitcoin MENA 2024 conference, former Binance CEO Changpeng Zhao predicted that China would establish a Bitcoin reserve if the US moves forward with such plans under the incoming administration.
A California court has ordered five individuals to pay over $5 million for their roles in the IcomTech Ponzi scheme. Between 2018 and 2019, the scheme defrauded investors through a fake Bitcoin trading platform. IcomTech promised 100% returns every six weeks, ultimately misappropriating $8.4 million of victims’ funds.
The group, led by founder David Carmona, lured over 190 investors with lavish expos and false claims of wealth. The court found them guilty of violating the Commodity Exchange Act and Commodity Futures Trading Commission (CFTC) regulations. Each was fined $1 million and banned from trading in CFTC-regulated markets.
In addition to financial penalties, the individuals received prison sentences ranging from five to ten years. The CFTC emphasised the importance of protecting investors from such schemes, urging vigilance in the cryptocurrency sector.
The US Supreme Court has dismissed an appeal by Nvidia, rejecting its attempt to block a securities fraud lawsuit accusing the chipmaker of misleading investors about its reliance on the volatile cryptocurrency market. The decision upholds a lower court’s ruling, allowing a 2018 class-action lawsuit led by Swedish investment firm E. Ohman J:or Fonder AB to proceed. The justices, offering no explanation in their one-line order, had previously expressed hesitation about addressing the case’s technical and factual complexities during November arguments.
The lawsuit centres on allegations that Nvidia’s leadership, including CEO Jensen Huang, downplayed how much of the company’s 2017-2018 revenue growth stemmed from crypto-related purchases. Nvidia’s chips gained popularity during the cryptocurrency boom but faced a sales slump when the market cooled in late 2018, leading to a drop in the company’s stock price. A federal judge initially dismissed the case, but the Ninth Circuit Court of Appeals revived it, concluding that plaintiffs sufficiently alleged Nvidia knowingly made misleading statements.
Nvidia has denied wrongdoing and vowed to continue its defence, emphasising the need for clear standards in securities litigation to protect shareholders. However, the plaintiffs argue their case is well-supported by expert analysis and insider accounts. Deepak Gupta, representing the shareholders, called the Supreme Court’s dismissal a victory for corporate accountability. President Biden’s administration backed the investors, reflecting broader concerns about corporate transparency in securities practices.
This case mirrors another recent Supreme Court decision involving Meta, where justices also dismissed a securities fraud lawsuit. Both rulings highlight the challenges of navigating legal thresholds for investor class actions under stringent US securities laws.
