Arbitrum boosts grant program to 70M Dollar, backing 56 projects
The Arbitrum DAO has officially authorized the allocation of millions of extra tokens to support all projects endorsed in its latest Short-Term Incentive Program (STIP), bolstering its financial resources by $23.4 million.

During the voting period from Nov. 18 to Dec. 2, the Arbitrum community ratified a proposal aimed at disbursing supplementary funds for projects that had received approval for grants but were unable to secure funding due to the STIP's capped allocation of 50 million ARB tokens. The recent vote outcome ensures the distribution of 21.1 million ARB tokens, valued at $23.4 million, to an additional 26 projects.

This additional capital was endorsed by a vote tallying 216.7 million in favor and 73.1 million against, expanding the STIP's overall budget to 71.4 million ARB tokens. This round of funding will now support a total of 56 projects, fostering a conducive environment for new and diverse emerging builders to thrive.

read more - https://www.coingabbar.com/en/crypto-currency-news/arbitrum-additional-budget-funding-debate-continues

razil Approves New Cryptocurrency Tax Regulations
The Senate of Brazil has given the green light to new income tax regulations that will have significant implications for cryptocurrency users in the country. Under these regulations, Brazilian citizens will be required to pay a 15% tax on income generated from cryptocurrencies on international exchanges.

This tax will apply to residents earning more than $1,200 from international exchanges and investment funds. The government of Brazil has set a target date of January 1, 2024, for the implementation of these new tax rules, with the aim of generating $4 billion in revenue.

https://www.coingabbar.com/en/crypto-currency-news/will-indias-new-crypto-tax-system-attract-more-investors

AI-Related Crypto Market Surges 7.2%, Led by WLD's Rollercoaster Ride
Worldcoin's token WLD, tied to Sam Altman's retina-scanning project, experiences notable volatility, reaching a high of $2.48 on November 16.

Altman's ousting from OpenAI triggers a drop to $1.84, followed by a 12% surge to $2.54. After Altman's replacement, WLD dropped to $2.30. The AI-related crypto market sees a 7.2% rise to $6.5 billion.

Estonian Company Argues that Claims Should be Filed in Estonia
The company behind Atomic Wallet has asked the US court to dismiss the class action lawsuit it is facing due to a $100 million hack. Due to its lack of U.S. ties, the Estonian company argues that claims should be filed in Estonia, as per its user agreement.

Atomic claims Only one user in Colorado was allegedly affected, and it argues that its terms of service disclaim liability for theft-related losses.

Mastercard: Feedzai Partnership will Help in Detecting Fraud
Mastercard is increasing its efforts to prevent cryptocurrency-related fraud, for which it has also partnered with regulatory tech platform Feedzai.

Mastercard says that this partnership will help in detecting fraud and preventing money laundering in crypto by using AI technology. Through this partnership, Feedzai will directly integrate with Mastercard's CipherTrace Armada platform.

Fidelity Highlights Grayscale Court Ruling on SEC Inconsistencies
Fidelity seeks SEC approval for a spot Ether ETF, following its spot Bitcoin ETF application. The filing focuses on the importance of such products in protecting US investors from risks associated with alternative exposures.

Reference is made to the recent Grayscale court ruling, highlighting inconsistencies in SEC's approach to spot and futures-based crypto ETFs.

Sergio Massa Advocates for Increasing Budget Transparency
Presidential candidate and Economy Minister of Argentina Sergio Massa has proposed implementing a blockchain-based system to monitor state accounts and the execution of the national budget. His other plans also include using gas from Vaca Muerta for Bitcoin mining.

Massa has praised Blockchain Technology for increasing transparency and control over public spending, along with this he has also proposed the creation of a national digital currency.

NPS of South Korea Purchases $19.9M Worth of Coinbase Shares
South Korea's National Pension Service (NPS), the world's third-largest pension fund, invested $19.9 million in Coinbase shares, marking its first entry into crypto-related securities. NPS, which has $755 billion in assets, previously had a policy against direct crypto investments.

Coinbase's positive Q3 results and the anticipation of U.S. spot Bitcoin ETF approval may have contributed to the investment. Coinbase stock has surged 192.1% this year.