This Week in Crypto 12/19/22

Share This Article

In RockItCoin’s effort to empower individuals in the cryptocurrency space, we have extracted top industry stories for your Weekly Digest. Cryptocurrency continues to dominate the news and here are some key happenings you should know.

Millennial Men Most Likely to Get Involved with Crypto, According to Report
Banking giant JP Morgan analyzed over 5 million of their customer’s checking accounts and drew valuable insights into how people behave when investing in cryptocurrency. The first interesting insight was that people tend to purchase crypto during spikes in asset prices, which occurs quite often. The fear of missing out (FOMO) on a crypto rapidly increasing in value is common in the crypto space, as prices move fast.

JP Morgan also found that Millennial men are the most likely to have participated in the crypto markets over the last year. Almost 20% of millennials have gotten involved with crypto this year, along with 11% of Gen X’ers and 4% of baby boomers. It appears the trend of crypto adoption only increases with younger generations. Overall, the report highlights that the audience that’s getting involved with crypto is only getting more diverse as more join the market. You can view the report here.

Sam Bankman-Fried Arrested by Bahamian Authorities
The Sam Bankman-Fried saga might be coming to an end. On Dec. 12th, the former FTX CEO was apprehended and arrested by Bahamian authorities after the United States Government filed criminal charges. The charges include money laundering, wire fraud, wire fraud conspiracy, securities fraud conspiracy, and securities fraud. The former billionaire is likely to be extradited to the U.S. so that he can be questioned as part of a larger investigation. Hopefully some answers will come to light and start to dig into the inner workings behind the failed exchange.

Former US President Donald Trump Sells Out Newly Released NFT Collection
Former President Donald Trump released an exclusive collection of 45,000 NFT trading cards last Thursday, causing an uproar online. The collection also doubles as a sweepstakes – a purchase of a $99 card enters the buyer in a drawing to win prizes like a Zoom call, dinner, and a cocktail hour. Those who purchase 45 or more cards are guaranteed a ticket to a gala dinner with Trump himself.

In the past, Trump has stated his dislike of cryptocurrencies, saying that they “are not money, and whose value is highly volatile and based on thin air.” The recent release of his NFT collection, now at a trading volume of 6,580 ETH at the time of writing, seems to be a direct U-turn from that opinion. While some of the internet is questioning the thinking behind the trading cards, others are buying them up!