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Ethereum Breaks Past $3,000 to Quadruple in Value in 2021

A representation of virtual currency Ethereum are seen in front of a stock graph in this illustration taken February 19, 2021. REUTERS/Dado Ruvic/Illustration
A representation of virtual currency Ethereum are seen in front of a stock graph in this illustration taken February 19, 2021. REUTERS/Dado Ruvic/Illustration
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Ethereum Breaks Past $3,000 to Quadruple in Value in 2021

A representation of virtual currency Ethereum are seen in front of a stock graph in this illustration taken February 19, 2021. REUTERS/Dado Ruvic/Illustration
A representation of virtual currency Ethereum are seen in front of a stock graph in this illustration taken February 19, 2021. REUTERS/Dado Ruvic/Illustration

Cryptocurrency ether broke past $3,000 on Monday to set a new record high in a dazzling rally that has outshone the bigger bitcoin, as investors bet that ether will be of ever greater use in a decentralized future financial system.

Ether , the token transacted on the ethereum blockchain, rose 3% on the Bitstamp exchange to $3,051.99 by lunchtime in Asia. It is up more than 300% for the year so far, easily outpacing a 95% rise in the more popular bitcoin.

In part, the big rally is a catch-up to late 2020 gains in bitcoin, said James Quinn, managing director at Q9 Capital, a Hong Kong cryptocurrency private wealth manager.

It also reflects improvements to the ethereum blockchain, he said, and a growing shift towards "DeFi", or decentralized finance, which refers to transactions outside traditional banking for which the ethereum blockchain is a crucial platform.

"At first, the rally was really led by bitcoin because as a lot of the institutional investors came into the space, that would be their natural first port of call," Quinn said.

"But as the rally has matured over the last six months, you have DeFi and a lot of DeFi is built on ethereum."

The launch of ether exchange-traded funds in Canada and surging demand for ether wallets to transact non-fungible tokens such as digital art have also pushed up the price, according to Reuters.

The ether/bitcoin cross rate has soared more than 100% this year and hit a 2.5-year high on Sunday, pointing to a degree of rotation into the second-biggest cryptocurrency as investors diversify their exposure.

"Surging DeFi volumes continue to push ethereum prices higher as investors gain confidence in crypto and see ethereum as a safe second-place asset," said Jehan Chu, managing partner at Hong Kong blockchain venture capital firm Kenetic Capital.

Illustrating the momentum for such new transactions, Bloomberg reported last week that the European Investment Bank plans on issuing a digital bond over the Ethereum blockchain, while JP Morgan plans a managed bitcoin fund. read more

Bitcoin , the world's biggest crypto asset with more than $1 trillion in market capitalization, regained the $50,000 mark last week and hovered around $58,000 on Monday, up about 3% but well below its record high at $64,895.22.

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Technology

Report: France Aims to Ban Under-15s from Social Media from September 2026

French President Emmanuel Macron holds a press conference during a European Union leaders' summit, in Brussels, Belgium December 19, 2025. (Reuters)
French President Emmanuel Macron holds a press conference during a European Union leaders' summit, in Brussels, Belgium December 19, 2025. (Reuters)
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Report: France Aims to Ban Under-15s from Social Media from September 2026

French President Emmanuel Macron holds a press conference during a European Union leaders' summit, in Brussels, Belgium December 19, 2025. (Reuters)
French President Emmanuel Macron holds a press conference during a European Union leaders' summit, in Brussels, Belgium December 19, 2025. (Reuters)

France plans to ban children under 15 from social media sites and to prohibit mobile phones in high schools from September 2026, local media reported on Wednesday, moves that underscore rising public angst over the impact of online harms on minors.

President Emmanuel Macron has often pointed to social media as one of the factors to blame for violence among young people and has signaled he wants France to follow Australia, whose world-first ‌ban for under-16s ‌on social media platforms including Facebook, Snapchat, TikTok ‌and ⁠YouTube came into force ‌in December.

Le Monde newspaper said Macron could announce the measures in his New Year's Eve national address, due to be broadcast at 1900 GMT. His government will submit draft legislation for legal checks in early January, Le Monde and France Info reported.

The Elysee and the prime minister's office did not immediately respond to a request for comment on the reports.

Mobile phones have been banned ⁠in French primary and middle schools since 2018 and the reported new changes would extend that ban ‌to high schools. Pupils aged 11 to ‍15 attend middle schools in the French ‍educational system.

France also passed a law in 2023 requiring social platforms to ‍obtain parental consent for under-15s to create accounts, though technical challenges have impeded its enforcement.

Macron said in June he would push for regulation at the level of the European Union to ban access to social media for all under-15s after a fatal stabbing at a school in eastern France shocked the nation.

The European Parliament in ⁠November urged the EU to set minimum ages for children to access social media to combat a rise in mental health problems among adolescents from excessive exposure, although it is member states which impose age limits. Various other countries have also taken steps to regulate children's access to social media.

Macron heads into the New Year with his domestic legacy in tatters after his gamble on parliamentary elections in 2024 led to a hung parliament, triggering France's worst political crisis in decades that has seen a succession of weak governments.

However, cracking down further on minors' access to social media could prove popular, according to opinion ‌polls. A Harris Interactive survey in 2024 showed 73% of those canvassed supporting a ban on social media access for under-15s.

Technology

Poland Urges Brussels to Probe TikTok Over AI-Generated Content

The TikTok logo is pictured outside the company's US head office in Culver City, California, US, September 15, 2020. (Reuters)
The TikTok logo is pictured outside the company's US head office in Culver City, California, US, September 15, 2020. (Reuters)
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Poland Urges Brussels to Probe TikTok Over AI-Generated Content

The TikTok logo is pictured outside the company's US head office in Culver City, California, US, September 15, 2020. (Reuters)
The TikTok logo is pictured outside the company's US head office in Culver City, California, US, September 15, 2020. (Reuters)

Poland has asked the European Commission to investigate TikTok after the social media platform hosted AI-generated content including calls for Poland to withdraw from the EU, it said on Tuesday, adding that the content was almost certainly Russian disinformation.

"The disclosed content poses a threat to public order, information security, and the integrity of democratic processes in Poland and across the European Union," Deputy Digitalization Minister Dariusz Standerski said in a letter sent to the Commission.

"The nature of ‌the narratives, ‌the manner in which they ‌are distributed, ⁠and the ‌use of synthetic audiovisual materials indicate that the platform is failing to comply with the obligations imposed on it as a Very Large Online Platform (VLOP)," he added.

A Polish government spokesperson said on Tuesday the content was undoubtedly Russian disinformation as the recordings contained Russian syntax.

TikTok, representatives ⁠of the Commission and of the Russian embassy in Warsaw did not ‌immediately respond to Reuters' requests for ‍comment.

EU countries are taking ‍measures to head off any foreign state attempts to ‍influence elections and local politics after warning of Russian-sponsored espionage and sabotage. Russia has repeatedly denied interfering in foreign elections.

Last year, the Commission opened formal proceedings against social media firm TikTok, owned by China's ByteDance, over its suspected failure to limit election interference, notably in ⁠the Romanian presidential vote in November 2024.

Poland called on the Commission to initiate proceedings in connection with suspected breaches of the bloc's sweeping Digital Services Act, which regulates how the world's biggest social media companies operate in Europe.

Under the Act, large internet platforms like X, Facebook, TikTok and others must moderate and remove harmful content like hate speech, racism or xenophobia. If they do not, the Commission can impose fines of up to 6% ‌of their worldwide annual turnover.

Technology

Saudi National Cybersecurity Authority Launches Service to Verify Suspicious Links

Saudi National Cybersecurity Authority Launches Service to Verify Suspicious Links
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Saudi National Cybersecurity Authority Launches Service to Verify Suspicious Links

Saudi National Cybersecurity Authority Launches Service to Verify Suspicious Links

The National Cybersecurity Authority has launched the “Tahqaq” service, aimed at enabling members of the public to proactively and safely deal with circulated links and instantly verify their reliability before visiting them.

This initiative comes within the authority’s strategic programs designed to empower individuals to enhance their cybersecurity, SPA reported.

The authority noted that the “Tahqaq” service allows users to scan circulated links and helps reduce the risks associated with using and visiting suspicious links that may lead to unauthorized access to data. The service also provides cybersecurity guidance to users, mitigating emerging cyber risks and boosting cybersecurity awareness across all segments of society.

The “Tahqaq” service is offered as part of the National Portal for Cybersecurity Services (Haseen) in partnership with the authority’s technical arm, the Saudi Information Technology Company (SITE). The service is available through the unified number on WhatsApp (+966118136644), as well as via the Haseen portal website at tahqaq.haseen.gov.sa.