Fed pivot, US corporations get clarity on crypto, and Ledger is breached

Dear investor,

???? If you want to read this content in Portuguese, please access our brazilian website right here.

???? Se você quiser ler esse conteúdo em Português, acesse nosso site Brasil neste link.

______________________

Crypto values dipped this week, catching its breath after eight weeks of green. But folks in the market are buzzing with optimism, thanks to signals about interest rates from last week's FOMC meeting. The Nasdaq Crypto Index (NCI) saw a 4.3% correction driven by ether (ETH) falling 5.2% and bitcoin (BTC) dropping 3.9%.

FASB confirms 'Fair Value' approach for corporate crypto holdings

The US Financial Accounting Standards Board's recent update, effective after December 15, 2024, allows companies to recognize changes in cryptocurrency fair value versus the previous practice of reporting losses solely when assets are below purchase price. Companies can now diversify reserves without accounting obstacles, potentially boosting corporate demand for crypto assets. This benefits both businesses and investors, providing a clearer view of company holdings. It may also encourage US firms to explore crypto assets for balance sheet diversification.

?

Google prepares for potential bitcoin ETFs by easing crypto ad rules

The company is adjusting its crypto advertising policy to permit promotions for "cryptocurrency coin trusts," opening avenues for more crypto-related financial products. This shift coincides with speculation surrounding the approval of spot BTC ETFs. The updated policy is scheduled to be implemented on January 29.

?

Connector kit from hardware wallet provider Ledger faces major security threat?

An assault, stemming from a compromised software library within Ledger's ConnectKit, resulted in the injection of malicious code into the frontends of various decentralized applications. This breach posed a significant risk to Ledger users and their assets, prompting some projects to temporarily disable their websites. Ledger patched the vulnerability, but the incident serves as a reminder of potential risks in certain crypto projects.

?

From Hashdex: Notes from the CIO - An update on spot bitcoin ETFs

Our CIO Samir Kebage discusses the potential approval of spot bitcoin ETFs in the US in the new year. If approved, these ETFs could unlock a $50 trillion market, offering bitcoin exposure in a trusted and liquid vehicle. The SEC's decision process involves regulatory actions and filings, with a potential approval deadline by January 10, symbolizing market maturity and institutional readiness. This presents a significant opportunity for investors in 2024.

________________________________