Crypto NFT Today: The latest news in blockchain, cryptocurrency and NFT: 7-13 December 2022

by James · December 7, 2022

Welcome to another edition of Crypto NFT Today! If you like cryptocurrency, NFTs and riding emotional roller coasters, this is the place to be.

Are you ready for the crunch? Let’s get started.

Table of Contents

Paraguay Shoots Down Crypto Mining Bill

Paraguay’s burgeoning crypto-mining industry was dealt a blow on Tuesday when the country’s lower court voted down a bill regulating how much the grid operator can charge bitcoin miners for electricity.

The South American nation boasts some of the cheapest energy prices in the world, thanks to the Itaipu Dam, one of the world’s largest. The relatively inexpensive flow has attracted local and international firms to set up bitcoin (BTC) mines in the country.

The bill, which has been in motion since July, was struck down on Monday, receiving just 36 votes short of the 41 it needed to pass.

Goldman Sachs will invest heavily in crypto

Goldman Sachs could act as a lifeline to the cryptocurrency market after FTX’s fall. The investment bank said in a statement that it will spend tens of millions of dollars on crypto firms whose valuations have been hit after FTX’s implosion.

“We see some really interesting opportunities, priced much more sensibly,” Mathew McDermott, Goldman’s head of digital assets, told Reuters.

Scottie Pippin launches NFT

Six-time NBA champion Scottie Pippin releases an NFT sneaker collection.

Pippin is partnering with Web3 entertainment company Orange Comet for the release.

Part of Orange Comet’s new “Cørrupted” series, the limited collection will drop on Tuesday, December 20 at OpenSea and will consist of only 1,000 pairs of Pippen Sneaker NFTs, known as the SP33 Collection.

Inspired by styles worn by Pippin during his career, the sneakers will feature 3D animations and will be metaverse compatible for most avatars in the digital space.

Coinbase Wallet Axes 4 Tokens

Coinbase Wallet has stopped supporting tokens BCH, ETC, XLM and XRP, citing low usage.

Coinbase cut off the tokens on Monday, but any remaining funds will still be tied to users’ existing addresses.

“This does not mean that your assets will be lost,” said a Nov. 29 announcement from Coinbase Wallet. “Any unsupported assets you have will still be linked to your addresses and accessible via the Coinbase Wallet recovery phrase.”

The tokens will still be available on Coinbase, the wallet’s crypto exchange platform.