The crypto market saw its leaves falling and energy deteriorating as several cryptocurrencies, including Bitcoin, dropped to new lows. Even last week’s crypto news cycle had little to share, except for a new Bitcoin act in the US, a GANA payment hack, the SEC’s roundtable on crypto privacy, and a few other notable developments.
Warren Davidson introduces the Bitcoin for America Act
Congressman Warren Davidson introduced the Bitcoin for America Act to enable Bitcoin as a tax payment method and enhance the financial stability of the US.
Bitcoin breaks hard to $83,000
Bitcoin was hovering at $85,650, the lowest price since May 2025. This price dip is due to several factors, including long-term OG holders massively selling the coin, causing increased supply and downward pressure on price.
Kyrgyzstan issues $50 million in USDKG stablecoin
Kyrgyzstan creates a landmark move by launching the first $50 million issuance of USDKG, a gold-backed stablecoin pegged to the US dollar.
SEC to host roundtable on crypto privacy
The US Securities and Exchange Commission’s (SEC) Crypto Task Force will host a public roundtable on privacy and financial surveillance in the digital asset space on December 15.
Hackers exploit GANA Payment for $3.1 million
The GANA Payment project on the BSC Chain experienced a breach after hackers exploited a smart contract vulnerability and stole $3.1 million in assets.
Mastercard chooses Polygon for self-custody wallets
Mastercard has selected Polygon as the first blockchain network to support its Crypto Credential program, a self-custody wallet feature that enables users to carry out username-based transfers.
Last week’s crypto news world wasn’t as rich as it had been before, but it had some positive news to share, apart from the stories related to market tragedy. Besides all the mentioned developments, the crypto industry also saw several other news; a hacker carried out a ‘poisoned’ transaction on Cardano, the Ethereum company FG Nexus sold 11,000 ETH, New Hampshire approved a Bitcoin-backed municipal bond worth $100 million, and more.
As the crypto market constantly evolves with new partnerships, regulations, initiatives, and prices, stay along with AltCoin Desk for more weekly updates.
