Biometric ID: The New Frontier in Crypto Security

BriefBits Crypto: This week's most important developments in Crypto world

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Discover how cutting-edge biometric security, innovative Bitcoin treasury strategies, and booming crypto investments are reshaping the digital asset landscape.

In today's edition:

Biometric tech is becoming a game-changer in defending crypto assets from advanced cyber threats.
Brazil’s Méliuz leverages Bitcoin to escape negative-yield bonds and protect its treasury.
Crypto venture funding hits a record $10.46 billion, fueled by major acquisitions and market growth.

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Security

Biometric Identification Emerges as a Crucial Shield for Crypto Security Amid Rising Cyber Threats

Briefly: Biometric technologies like eKYC, Face2Face verification, and liveness detection are rapidly becoming essential in crypto security to combat sophisticated cyberattacks, with innovations such as Trust Stamp’s quantum-safe biometric wallet enhancing asset protection.

Key Information:

Biometric ID methods strengthen crypto security by verifying users through unique physical traits, reducing fraud and identity theft.
Trust Stamp developed a biometric, quantum-safe wallet that balances security between traditional software and hardware wallets.
North Korean cybercrime groups have exploited crypto firms extensively, stealing over $3 billion, highlighting urgent security needs.
Biometric systems convert live biometric data into encrypted digital templates, enhancing privacy by avoiding storage of raw biometric info.

Finance

Brazil’s Méliuz Breaks Free from Treasury Trap by Embracing Bitcoin

Briefly: Brazilian fintech Méliuz, facing negative yields on government bonds amid high local interest rates, pivoted to Bitcoin to protect its treasury, using innovative derivatives strategies and shareholder support to maintain growth without incurring costly debt.

Key Information:

Méliuz held roughly R$250 million in cash mostly tied up in government bonds yielding negative returns after inflation and taxes.
The company shifted to Bitcoin with backing from 66% of shareholders, avoiding dollar-denominated debt.
It uses cash-secured put options to generate income for Bitcoin purchases, capping exposure at 20% for risk management.
Over 80% of Bitcoin holdings are kept in cold storage, with plans to explore Lightning Network and Bitcoin-backed debt in the future.

🏃 Speedy Bytes

StablecoinRipple's RLUSD stablecoin surpassed $1 billion in supply on Ethereum, gaining regulatory acceptance in Abu Dhabi and marking rapid growth since its launch in late 2023.

UpgradeEthereum developers are prepping for Fusaka, a major upgrade that improves layer-2 transaction efficiency through innovations like PeerDAS, reducing validator bandwidth and fees.

FundingCrypto venture funding hit $10.46 billion last week, led by Naver Financial's $10.3 billion acquisition of Dunamu, signaling strong M&A activity and strategic investments in crypto infrastructure.

NFTNFT sales rose nearly 10% to $77 million with notable gains in collections like Algebra Positions and a modest CryptoPunks comeback, alongside a surge in buyer and seller activity.

ETFBlackRock's Bitcoin ETF IBIT saw $2.34 billion outflows in November but executives called this 'perfectly normal', highlighting the ETF’s liquidity and long-term investor confidence despite volatility.

DerivativesNasdaq’s ISE proposed to increase the trading limit for BlackRock’s Bitcoin ETF options to 1 million contracts amid booming institutional demand and record open interest in Bitcoin options markets.

📈 Numbers and Trends

Bitcoin treasury firms show mNAV ratios ranging from 0.856 to 1.105, indicating varying premiums or discounts relative to their bitcoin holdings.
Crypto VC funding reached $10.46 billion in one week, led by Naver Financial’s $10.3 billion acquisition of Dunamu and Fordefi’s $100 million purchase.
Ripple’s RLUSD stablecoin passed a $1.026 billion supply milestone on Ethereum, with a combined supply of $1.261 billion including XRP Ledger tokens.
BlackRock’s IBIT ETF experienced $2.34 billion in outflows during November, but also saw cumulative gains of about $3.2 billion as Bitcoin prices rebounded above $90,000.
NFT sales increased 9.78% to $77.04 million, with transactions up nearly 43% and buyer counts rising over 25%, highlighting growing market activity.

💬 Quote of the Day

Bitcoin is not a speculative bet but a survival strategy when holding local currency cash meant eroding our treasury faster than we could build it.

Diego Kolling

Priced at Zero: How Brazil’s Méliuz Turned to Bitcoin to Escape a Treasury Trap

1️⃣ Number of the Day

$10.46 billion - Weekly Crypto Venture Capital Funding Surge

Crypto venture capital funding reached a remarkable $10.46 billion in a single week, driven primarily by Naver Financial’s $10.3 billion acquisition of Dunamu, highlighting a strong trend of large-scale mergers and acquisitions shaping the crypto investment landscape.

Crypto VC Funding: Naver Financial acquires Dunamu for $10. 3B, Fordefi acquired for $100M

Biometric ID: The New Frontier in Crypto Security

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