Crypto News – Crypto news today was a bit active. From cryptocurrencies rising in price to former executives whose assets were seized, there were many events.
Crypto News Today: What Happened on December 22 in the Crypto Sector?
Solana’s price spike has caused its market value to soar above BNB’s, hitting $41.9 billion. The minister of foreign affairs for Argentina has stated that contract settlements in Bitcoin and other cryptocurrencies are now possible as a result of a recent economic reform law. Judge Lewis Kaplan denied former FTX CEO Sam Bankman-Fried‘s plea to postpone his sentencing hearing, and a court in the British Virgin Islands issued a worldwide asset freezing order to co-founders of 3AC, Su Zhu and Kyle Davies.
SOL Overtakes BNB in Market Cap
For the first time in more than two years, a robust 18% price increase in Solana over the last 24 hours has propelled the cryptocurrency to the fourth position in terms of market value. According to CoinMarketCap, SOL‘s most recent ranking of fourth was in November 2021.
Solana’s market capitalization has risen to $41.9 billion, surpassing the current $41.8 billion of Binance Chain’s BNB, due to the recent rally. However, this early morning surge ended, and Solana slipped back to fifth place. At $93.45, SOL is currently 6.81%.
Contracts in Argentina can now be Settled in Cryptocurrencies
Diana Mondino, Argentina’s Minister of Foreign Affairs, International Trade, and Worship, asserts that her nation has authorized the use of Bitcoin for payments and contracts. The lawmaker explained that an economic reform decree that was just released would permit Argentinians to utilize Bitcoin and other cryptocurrencies under specific circumstances in a post on X on December 21.
We ratify and confirm that in Argentina contracts can be settled in Bitcoin. And also any other crypto.
Mondino
3AC Founders’ Assets Frozen by Court
A court has frozen almost $1 billion in the founders’ assets as the bankruptcy case involving Singapore-based cryptocurrency hedge fund Three Arrows Capital (3AC) continues. According to Teneo, the company’s liquidator, a British Virgin Islands court has barred Su Zhu and Kyle Davies, co-founders of 3AC, from moving or selling assets valued at as much as $1.14 billion, Bloomberg reported on December 21.
According to reports, Davies’ wife Kelly Chen’s assets have also been harmed by the limitation. According to Teneo, following the collapse of the hedge fund in 2022, creditors of 3AC are believed to be owed approximately $3.3 billion.
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