Today in Crypto: US Treasury Sanctions Crypto-Using Russian Money Launderer, Northern Data Expects Loss and May List Cloud Unit

Safe, Sygnum Bank, and CoinCover have collaborated to create the Safe Recovery Hub, which offers various options for recovering cryptocurrency. The hub allows users to customize their recovery solution based on their risk preferences, addressing the limitations of existing key management systems. Users can recover their digital asset accounts through designated "recoverers," such as family and friends, as well as third-party service providers like Sygnum Bank and CoinCover. Users maintain control and can cancel recovery attempts unless a recovery event occurs. This user-driven module is a significant development in both the crypto industry and traditional finance. The Safe Recovery Hub will be accessible to users of the Safe wallet, with partner services launching in the first half of 2024.

Chinese cities are launching giveaways of digital yuan tokens and discount vouchers at the end of the year to promote the adoption of Central Bank Digital Currency (CBDC). The People's Bank of China (PBoC) plans to distribute up to $2.8 million worth of coins and vouchers in Hebei province. Recipients can use their coins and vouchers at over 50,000 participating merchants, and residents must have digital yuan wallets with commercial banks or the Alipay e-pay platform to participate. Similar incentives are also being implemented in Suzhou and Jinan, offering discounts and subsidies to encourage the use of digital yuan.

Bitcoin's price has surged to an 18-month high, reaching over $44,000 and potentially heading towards $48,000. This increase is driven by buying from individual and institutional investors, resulting in a rise in open interest. Market experts and traders are optimistic about reaching $45,000 and even $50,000. The anticipation of a spot Bitcoin exchange-traded fund (ETF) approval by the US Securities and Exchange Commission (SEC) is also contributing to the bullish trend. The Bitcoin ETF Token ($BTCETF) is gaining popularity as it offers investors exposure to the potential approval of the Bitcoin ETF. However, concerns have been raised by BlackRock about the possibility of Bitcoin being classified as a security by the SEC, which could impact its trading and custody in the US market. Despite some minor dips, Bitcoin's technical analysis suggests a bullish trend, with key resistance levels at $45,000 and $45,926. Traders are advised to closely monitor these levels and the critical support at $42,429. Additionally, a list of the top 15 cryptocurrencies to watch in 2023 is provided for readers' information.

The price of BitTorrent Token (BTT) surged by over 75% following the announcement that the Tron network, on which BTT is issued, reached 200 million users. However, the token has since dropped around 30% and currently trades at around $0.0000008. Potential investors may be deterred by questions surrounding the token's utility. For those interested in alternative high-potential coins, TG.Casino, a new Telegram-based crypto casino protocol, may be worth considering. TG.Casino has already seen success, with over $38 million wagered on the platform by over 2,450 players. The platform's presale has raised over $3.5 million and offers a unique value proposition, simplifying crypto gambling for non-crypto native users. Early investors in TG.Casino are already making yields of around 170%, and the platform plans to implement a token buyback scheme to raise the token's price and provide passive income to token stakers. However, it is important to note that investing in cryptocurrencies carries high risks.