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JUST IN:
- Gemini's Cameron Winklevoss calls for Barry Silbert's ouster from DCG(5) and Gemini terminates its Crypto yield product, amping up battle with Genesis.(4)
- Crypto.com delists USDT for Canadian users following OSC ban.(6)
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- Coinbase cuts around 20% workforce as Crypto winter rages; stock pops 7%; Analysts "encouraged because it shows company is being financially disciplined and Institutional Business thrives despite the layoffs.(14)
- Coinbase insider trader gets 10 months in prison.(4)
- Prosecutors investigate former FTX executive Nishad Singh.(3)
Hong Kong’s finance regulator calls for 'a more solid footing' for Crypto. Dubai free zone now home to more than 500 Crypto startups. Bernstein believes recent gains in some Cryptocurrencies caused by short covering. Quantum Computers break encryption in China but far from cracking Bitcoin. Crypto advocates are pinning their hopes on France’s National Assembly, the lower house of the French Parliament, to overturn a legal change they worry could wreck France’s goal of becoming an innovative crypto hub. House of Lords members call for crypto regulation beyond upcoming financial bill. Galaxy Digital CEO Mike Novogratz says 2023 will be year ‘to survive’ for Crypto industry.
Bitcoin streak is the strongest in a year as Crypto beats Gold and Stocks.(3) But, Bitcoin derivatives data suggests a BTC price pump above $18K won’t be easy and poor Bitcoin market liquidity keeps Crypto Whales at bay. Is this what the Bitcoin ($BTC) price bottom looks like? No because, bullish signal indicates Bitcoin Whales go on 20,000 BTC buying spree. Bitcoin exchange inflows fall to 2020 levels as activity remains low. Grayscale Bitcoin Trust discount shrinks to 38% as Gemini deadline goes unanswered.
NY law firm investigates potential 'securities fraud' at Core Scientific. Hong Kong firm with ties to Bitmain reorganizes to focus on Crypto Asset management and hedging. JPMorgan CEO Jamie Dimon lambasts Bitcoin as “decentralized Ponzi Scheme.” Legendary investor Bill Miller lauds Bitcoin as ‘dramatically different.’ Michael Saylor stays bullish on Bitcoin, while MicroStrategy ($MSTR) up 23% in 2023. Don’t throw Crypto baby out with bathwater, says former Barclays Chief Bob Diamond.
Big options trade in Ether market would profit from 69% price slide. Ethereum reaches new three-week high above $1,300, but will rally last with decreasing volume?(2) Ethereum’s Shanghai upgrade in February could cause $ETH prices to dump. However, this scenario suggests the Ethereum (ETH) to Bitcoin (BTC) price could hit a 5-year high. Ethereum software firm ConsenSys to cut upwards of 100 staff.(2) Arbitrum and Optimism transactions now exceed Ethereum mainnet.
BNB price gearing for another lift-off to $300 and the rally isn’t over yet. Binance employees to adhere to 90-day period prior to trading. Binance admits to problems with its $BUSD peg.
A leading analytics firm says that crypto trader sentiment surrounding Cardano (ADA) and Binance Coin (BNB) suggests that both assets could be poised for rallies.
$XRP-focused investment product inflows surge as investors favor clarity on Ripple’s case with SEC. Ripple opposes SEC's attempt to seal documents related to summary judgment.(2)
Cardano trading volume hits a 2-month high as $ADA whale transactions surge. Cardano's total value locked (TVL) has increased by 30% since the beginning of the year.(3) Cardano founder shares his thought on upcoming improvements on the platform. From less than $50 million at the start of 2023, it had risen to $64.7 million by the end of the first 10 days of January.
Dogecoin (DOGE) one of the worst performers among large-cap coins so far this year. Dogecoin mining profitability higher than Bitcoin. Polygon (MATIC) and Uniswap (UNI) partners. Solana moves on from FTX calamity and sparks 46% In last 7 days. Machine learning algorithm sets Litecoin price for January 31, 2023: $84.89.
Bear market puts Coinbase CEO’s $3.7B compensation in deep hibernation. BlockFi to reveal financial state post FTX collapse and bankruptcy filing. BlockFi said CEO cashed out nearly $10 million as FTX loan stabilized clients. Four bipartisan lawmakers called for a “disinterested examiner” to be appointed to FTX’s bankruptcy proceedings in a letter to a judge on Monday.(3) Thiel, Tom Brady, Gisele among list of FTX shareholders disclosed in court.
Mark Cuban to face questioning under oath over promotion of Voyager.(3) Barry Silbert defends DCG in response to Gemini's Winklevoss.(2) Silbert: DCG borrowed hundreds of millions from Genesis at 10-12% interest. A case involving the criminal investigation of an “early promoter of Bitcoin, expatriated from the United States in early 2014,” has the SCOTUS considering it's status. Justin Sun’s woes continue as USDD depeg sparks Huobi concerns. Sanctions couldn’t ‘pull the plug’ on Tornado Cash: Chainalysis. SEC also investigating Mango exploiter Eisenberg says Kristin Johnson CFTC Commissioner. Do Kwon suggests sicking FBI on man who accidentally received $1.5M in LUNA. Terra And Do Kwon lawsuit voluntarily dismissed. SEC charges creators of alleged $45,000,000 Crypto scheme that promised 500,000X returns.
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