Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Cosmos-based networks Umee and Osmosis have announced plans to merge and create a so-called "DeFi Hub." Meanwhile, Brazilian bank Itau Unibanco has reportedly launched a cryptocurrency trading service for its clients as part of its investment platform, and Bitcoin has reached the $40,000 milestone, its highest price level in 19 months.

Cosmos-based networks announce merger plans

Umee and Osmosis, two networks that operate on the Cosmos chain, have announced plans to merge through a software upgrade and create a "DeFi Hub" for the entire Cosmos ecosystem.

According to the Dec.

Osmosis x Umee

This is much needed for $OSMO and also great for $UMEE. With Mars planning to migrate to Neutron, Osmosis needs to gather the DeFi legos required to offer a complete exchange experience

Cosmos ecosystem making moves. https://t.co/vjiDXMfA0T https://t.co/P0cZG6reLP
— Liam Connor (@L1am_Crypto) December 4, 2023

“The combined architecture of both chain functionality will open up the door for flash loans and new forms of MEV on the same DeFi Hub,” said Sunny Agarwal, Osmosis' co-founder.

Osmosis made news in October by allowing a bridged version of Bitcoin to be traded on the exchange.

Brazil’s largest bank Itau Unibanco launches Bitcoin trading

Brazilian bank Itau Unibanco has launched a cryptocurrency trading service for its clients as part of its investment platform, Reuters reported on Dec.

Itau, the largest bank by assets in Brazil and one of the leading lenders in Latin America, is debuting crypto trading with Bitcoin and Ether, digital asset head Guto Antunes reportedly said.

North Korea's Lazarus Group masterminded $100M Harmony hack: FBI confirms

The FBI also confirmed earlier reports this month by figures such as ZachXBT that the hackers had started moving a large chunk of the funds around via privacy protocols. The Federal Bureau of Investigation (FBI) has confirmed the Lazarus Group and APT38 as the culprits behind the $100 million Harmony Bridge Hack from June 2022. The North Korea-linked cyber group had long been suspected of being behind the attack but their involvement hadn’t been confirmed by authorities until now. According to a Jan. 23 statement, the FBI noted that “through our investigation, we were able to confirm that the Lazarus Group and APT38, cyber actors associated with the DPRK , are responsible for the theft of $100 million of virtual currency from Harmony’s Horizon bridge.” The Harmony Bridge hack in 2022 was the result of security holes in Harmony’s Horizon Ethereum bridge which allowed the cyber attackers to swipe a number of assets stored in the bridge via 11 transactions. The FBI also outlined t

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Greenidge plans to expand mining operations to South Carolina

According to the crypto mining firm, the South Carolina facility has been capable of drawing 80 megawatts of power, two thirds of which is produced from zero carbon energy sources. Bitcoin mining company Greenidge Generation announced it would be starting operations in South Carolina as early as this year. In a Friday announcement, Greenidge said it would be operating in a carbon neutral crypto mining facility in the city of Spartanburg. The company said it had signed a letter of intent for a 10-year lease with printing firm LSC Communications’ location on the outskirts of the South Carolina city, where it plans to start mining crypto “in late 2021 or early 2022.” According to Greenidge, the location has been capable of drawing 80 megawatts (MW) of power, two thirds of which is produced from zero carbon sources including nuclear energy. Greenidge CEO Jeff Kirt said it was a step towards the company creating “environmentally sound Bitcoin mining” in the United States. The firm alr

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Nigerian hotel becomes country’s first to accept Bitcoin payments

George Residence in Lagos has announced plans to start accepting BTC payments. The company has already converted 50% of its balance sheet to Bitcoin. A luxury hotel in Lagos, Nigeria will reportedly accept Bitcoin ( BTC ) as a form of payment and adopt the digital asset as its primary reserve currency as concerns about inflation continue to grip Africa’s largest economy. George Residence confirmed its intent to begin accepting Bitcoin this weekend, according to 1st News, a Nigerian news publication. George Residence, which offers luxury hotel and premium apartment suites, will accept BTC through Coinvest Africa, a regional cryptocurrency brokerage. "We have allocated around 50% of our cash reserves to Bitcoin. [...] We hope to increase that as time goes on,’’ said ‘Yanju George, the company’s CEO. “Bitcoin is the currency of the future and it is only right that we are strongly positioned so we do not get left behind.” He continued: “Bitcoin permits our guests a faster and m

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Robinhood launches 24/7 phone support, crypto users included

An influx of new users to the trading app and high demand for crypto products had previously resulted in longer customer service wait times. Popular trading app Robinhood announced Tuesday that it has launched round-the-clock phone support to better serve its ever-growing userbase, including the millions of users who’ve signed up to access cryptocurrency investments. Users of the app will now be able to speak with a live customer service representative 24 hours a day, seven days a week, regardless of holidays. The company said the 24/7 support line is part of a broader effort to expand reliability and accessibility, as well as answer time-sensitive requests from its customers. To access the service, users can request a call through the Robinhood app and receive a notification when they are next in line for a phone conversation. A Robinhood representative will then initiate the call. Christine Brown, the chief operating officer of Robinhood Crypto, told Cointelegraph that the co

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South Africa learns a hard crypto lesson amid fast growing demand

South African authorities will be keeping a close eye on the cryptocurrency space in 2021 in the wake of major scams and booming markets. Authorities in South Africa appear to be paying closer attention to the cryptocurrency space in 2021 in the wake of a major Bitcoin ( BTC ) Ponzi scheme and increased trading activity. As a result, the South African Financial Sector Conduct Authority has called for tighter controls of the crypto space following the collapse of what has been described as the biggest Ponzi scheme the country has ever seen. In December 2020, Mirror Trading International went into provisional liquidation after one of its directors allegedly skipped the country, taking with him access to a copious amount of Bitcoin that investors had entrusted to the company over the past few years. In January 2021, MTI claimed to have over 260,000 members around the world and had amassed 23,000 BTC of investor’s holdings, which is worth over $1 billion in today’s market. The South

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Palau advances CBDC with Ripple in phase 2 of PSC program launch

The second phase of the PSC program will prioritize the development of a digital ecosystem and increased user engagement, emphasizing adherence to regulatory compliance. The Ministry of Finance of Palau officially launched the second phase of its Palau Stablecoin (PSC) program. Jay Hunter Anson, a cybersecurity consultant in Palau and adviser to the Ministry of Finance, confirmed the program’s second phase launch on Dec. 15 in a post on X (formerly Twitter). Anson said that Palau aims to extend its partnership with Ripple in phase two, allowing the PSC team to leverage Ripple’s central bank digital currency (CBDC) platform and technical expertise. PSC is a digital currency pegged to the United States dollar, which uses Ripple’s XRP Ledger. Read more

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Palau advances CBDC with Ripple in phase 2 of PSC program launch