Former Google CEO Eric Schmidt Becomes Advisor At Chainlink Labs – December 7

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $51,246

Bitcoin price has reclaimed the $51,000 level, following a strong recovery from its weekend plunge.

Top-20 altcoins are also bouncing back well, as Ethereum gains 4%, Cardano rises 6% and Coin rallies 17% over the last 24 hours.

Top Stories for December 7, 2021 πŸ”₯

πŸ‘‰ Former Google CEO Eric Schmidt Becomes Advisor At Chainlink Labs

Eric Schmidt, a former Google CEO and executive chair, has joined Chainlink Labs as a strategic advisor. He headed Google between 2001 and 2011, followed by an executive chair position from 2011 to 2017.

Schmidt will be assisting the company to successfully make Chainlink – its blockchain oracle protocol – completely interoperable across several blockchains for decentralized finance.

πŸ‘‰ Indian Crypto Rule Violations To Carry Maximum Fine Of $2.7M Or 1.5 Years In Prison

Bloomberg India has reported that the maximum penalty for those breaching crypto policies may face up to US$2.7 million in fines, or 1.5 years in prison.

Reports on the actual nature of the new cryptocurrency rules are still mixed, however some reports indicate that funds must be held on exchanges, with private wallets illegal under the proposed laws.

πŸ‘‰ Craig Wright Ordered To Pay $100M In Kleiman Lawsuit, But Off Hook For 1.1M BTC

Australian computer scientist Craig Wright has been ordered to pay $100 million in intellectual property rights to the family of David Kleiman, his deceased business partner.

Wright managed to escape handing over 1.1 million Bitcoins, however, which had a market value of around $50 billion at the time of the trial. The coins were among the first to ever be mined.