[ad_1]
Top Stories This Week
Crypto lender Genesis files for Chapter 11 bankruptcy
Bitzlato and its founder face enforcement actions from US authorities
United States authorities have taken enforcement actions against crypto firm Bitzlato, seizing the companyâs website and labeling the business as a âprimary money laundering concernâ connected to Russian illicit finance. As part of the case, FBI officials arrested Russian national Anatoly Legkodymov in Miami. The criminal complaint claims the firm was a âcrucial financial resourceâ for the Hydra darknet marketplace, allowing users to launder funds, including those from ransomware attacks.
Read also
Features
How to make a Metaverse: Secrets of the founders
Features
Are You Independent Yet? Financial Self-Sovereignty and the Decentralized Exchange
FTX CEO says he is exploring rebooting the exchange
New FTX CEO John Ray, appointed before the bankruptcy proceedings, has set up a task force to consider relaunching FTX.com. He noted in an interview that everything is âon the tableâ when it comes to the future of FTX.com, including a potential path forward with regard to rebooting the exchange. In another headline in the case, former FTX CEO Sam Bankman-Fried has been accused of using his influence in the crypto industry to inflate some coinsâ prices through a coordinated strategy with Alameda Research. Bankruptcy proceedings are facing challenges, as liquidators of Alameda have suffered at least $11.5 million in losses since taking control of its trading accounts..
Iran and Russia want to issue new stablecoin backed by gold
3AC, Coinflex founders collaborating to raise $25M for new claims trading exchange
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $21,856, Ether (ETH) at $1,621 and XRP at $0.40. The total market cap is at $1.00 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Frax Share (FXS) at 67.88%, Hedera (HBAR) at 45.32% and Convex Finance (CVX) at 44.01%.
The top three altcoin losers of the week are Gala (GALA) at -8.20%, Huobi Token (HT) at -6.34% and Trust Wallet Token (TWT) at -3.47%.
For more info on crypto prices, make sure to read Cointelegraphâs market analysis.
Read also
Columns
Wall Street disaster expert Bill Noble: Crypto spring is inevitable
Features
Are You Independent Yet? Financial Self-Sovereignty and the Decentralized Exchange
Most Memorable Quotations
âCrypto is getting very interesting because weâre finally starting to see the bear of regulation coming into play and I think, long term, thatâs a good thing.â
Kevin OâLeary, venture capital investor
âI actually thought he [Sam Bankman-Fried] was the Mark Zuckerberg of crypto. I didnât realize he was the Bernie Madoff. And thatâs something I have to own. And so I own it.â
Anthony Scaramucci, co-founder of SkyBridge Capital
âWhat Iâd like to do is to see the CFTC and other regulators provide more guidance this year and Iâm very hopeful that perhaps we will see more clarity in the United States.â
Caroline Pham, commissioner of the Commodity Futures Trading Commission (CFTC)
âBitcoin has just become a 24/7 VIX. Itâs just a trading vehicle now for large funds who want to get in and out of risk on weekends and overnight trading hours.â
Jeff Dorman, chief investment officer at Arca
âThe huge undertaking of [central bank] digital currencies is not worth the costs and risks.â
Tony Yates, former senior adviser to the Bank of England
âI donât think DeFi is meant to attack TradFi. DeFi is supposed to complement TradFi, at least initially.â
Emin Gun Sirer, co-founder and CEO of Ava Labs
Prediction of the WeekÂ
Bitcoin eyes $21.4K zone as analyst predicts BTC price will chase gold
Bitcoin rose toward new multi-month highs, with the BTC/USD pair preserving support at $21,000, according to data from Cointelegraph Markets Pro and TradingView.
Prices moving through support or resistance are affecting sentiment, but the trading range is well defined, noted on-chain analytics resource Material Indicators. âI view the lack of BTC liquidity below $18k and above $23k as a lack of sentiment for those levels at this time,â the firm wrote on Twitter.
FUD of the WeekÂ
Silvergate reports $1B net loss in the fourth quarter of 2022
Nexo agrees to $45M settlement with SEC and states over Earn product
CoinDesk could be up for grabs as parent company DCG scrambles for funds
A potential sale of cryptocurrency media outlet CoinDesk is being considered by parent company Digital Currency Group. Investment bankers from Lazard are helping the firm weigh options, including a full or partial sale. DCG has reportedly received multiple offers exceeding $200 million for the media firm over the last few months. DCGâs venture capital portfolio comprises 200 crypto-related businesses.
Best Cointelegraph Features
How to prevent AI from âannihilating humanityâ using blockchain â Cointelegraph Magazine
Crypto Masonâs death threats from maxis: Hall of Flame
Metaverse not the endgame, but âongoing digital transformationâ: Davos 2023
Leaders in the Web3 space came together at the World Economic Forum in Davos to discuss the first outputs from the âDefining and Building the Metaverseâ initiative.
Subscribe
The most engaging reads in blockchain. Delivered once a
week.
[ad_2]
Source link