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.
Today in crypto, non-fungible tokens (NFTs) have maintained their monthly sales momentum, surging by 57.8% in November as digital collectibles continue to recover, the United States Securities and Exchange Commission has taken legal action against investment firm Touzi Capital, and Ripple chief technical officer David Schwartz speaks out against debanking.
NFTs hit $562 million in monthly sales volumes, recording six-month high
NFTs had a monthly sales volume of over $562 million in November, surpassing October’s record of $356 million.
On Dec. 1, data company CryptoSlam showed that NFTs recorded $562 million in sales in November, a substantial increase in volume from October. CryptoSlam data also indicates that November’s monthly sales volume for NFTs is the highest since May, when digital collectibles had a $599 million sales volume.
Despite the surge, NFT monthly volumes are still far from their peak in 2024. In March, digital collectible sales volumes recorded a yearly high of $1.6 billion. However, this was followed by a seven-month slump, with each month’s sales volume decreasing until it reached its lowest point since 2021.
As the broader crypto markets surged, popular NFT collection CryptoPunks also had an impressive record in November. According to crypto data website DefiLlama, the NFT collection had a floor price of 26.3 Ether ETH$3,688.18 on Nov. 1. By Nov. 30, CryptoPunks’ floor price had risen to 39.7 ETH, worth about $147,000 at current market prices.
SEC sues Touzi Capital for allegedly defrauding over 1,200 crypto investors
The United States regulator has taken legal action against investment firm Touzi Capital over allegedly misleading investors about the liquidity and profitability of its crypto asset mining fund.
Touzi Capital allegedly defrauded over 1,200 US investors through security offerings of its crypto asset mining fund, raising “almost $95 million,” according to a statement published by the US Securities and Exchange Commission (SEC) on Nov. 29.
The investment was allegedly pitched to investors as funding crypto mining operations. However, the SEC claims this wasn’t true.
Instead, Touzi Capital reportedly “commingled investor funds” across its subsidiary businesses, funneling money into ventures that had “nothing” to do with crypto mining.
The SEC also accused Touzi Capital of misleading investors about the risks involved and the profitability of its crypto mining asset fund.
“The SEC alleges that the defendants made materially false and/or misleading statements as to the stability of these investments – comparing them to high-yield money market accounts.”
“Government has become addicted to indirect regulation” — Ripple exec
Ripple chief technical officer David Schwartz spoke out against Operation Chokepoint 2.0 — joining a growing list of crypto industry executives and tech founders sharing personal debanking stories and calling for regulatory reform.
The outcry from tech founders came after a recent appearance by venture capitalist Mark Andreessen on the Joe Rogan podcast where he revealed over 30 founders were debanked during the Biden administration.
Schwartz argued that debanking customers does nothing to help compliance, undermines due process — and violates the First Amendment right to freedom of speech — and Fourth Amendment rights against illegal search and seizure.
“Our government has become addicted to indirect regulation,” Schwartz wrote on social media. “It is easier to pressure banks to cut off disfavored businesses than to make that business illegal,” the exec continued.
The crypto executive ultimately concluded that regulations should be above board and transparent to avoid crippling both civil rights and innovation in the United States.
To read article in Arabic, please visit the website Crypto Mena
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