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Let's talk 2023 and the latest status of the cryptocurrency market!

Introduction

The cryptocurrency market is continuing to grow and evolve as more people become interested in the space, but it’s not always easy to keep up with all the latest developments. In this article, we’ll give you a list of the top five cryptocurrencies that are worth watching right now.

Litecoin

Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. It was created by Charlie Lee, who previously worked as Google’s director of engineering. The network is not controlled by any central authority and uses a proof-of-work/proof-of-stake hybrid mining system.

Lee has stated that he originally chose Litecoin because it was an improvement over Bitcoin’s design: “I really liked that idea of having something better than Bitcoin.”

Monero

Monero is a cryptocurrency that’s been gaining popularity and has a lot of potential. It’s currently ranked seventh in terms of market cap, but it could easily move up through the ranks if investors continue to buy into it.

Monero bills itself as “the best privacy coin on Earth,” which means it offers better anonymity than other cryptocurrencies like Bitcoin or Ethereum because its transactions are private, untraceable and unlinkable by third-parties such as banks or governments. However, this also means you’ll have to keep your entire wallet private—even if you don’t want anyone else knowing about your transactions—which may not be ideal for everyday use cases where privacy isn’t needed (such as shopping online).

This coin was created by some anonymous developers who wanted an alternative to Bitcoin that wouldn’t require users’ identities being verified prior to making purchases with fiat currency like dollars; instead, all users need do is download one app onto their computer or mobile device so they can transact without needing any additional information from authorities beyond what appears on their screens during each transaction session.”

Cardano

Cardano is a decentralised public blockchain and cryptocurrency project, developing the first provably secure smart contract platform powered by a distributed computing system called the Cardano Settlement Layer (CSL). The platform’s SVP, Adrian Stuard, states that: “The goal is to create an open-source software which will be used for financial transactions for decades to come.”

In this section we will look at how Cardano works and what makes it unique compared with other cryptocurrencies in the market today.

IOTA

IOTA is a cryptocurrency that is designed to facilitate transactions between machines. It has a unique architecture that makes it different from other cryptocurrencies, but the most notable difference is its use of a directed acyclic graph (DAG) called Tangle.

Tangles are essentially blockchains with no miners or transaction fees; they rely on Proof-of-Work (PoW) instead. This means that instead of mining blocks like bitcoin or ethereum do, users must validate transactions by solving complex math problems using their computers’ processing power. The more computationally demanding these puzzles become—and therefore difficult for computers to solve—the more valuable your coins become!

NEO

NEO is a blockchain platform and cryptocurrency designed to allow for the development of digital assets and smart contracts. It was created in China in 2014, making it one of the first blockchains to be launched outside of North America and Europe.

NEO is known as the Ethereum of China because they both share similar goals: they want to create an open-source blockchain infrastructure that can be used by developers around the world. The biggest difference between these two projects lies in their community support: while Ethereum has been popular since its inception (at least until recently), NEO has had more success because it’s used by Chinese companies like Alibaba or Baidu; these companies are interested in using blockchain technology for many different applications—including finance—but aren’t necessarily working towards building decentralized platforms themselves just yet.

latest status of the cryptocurrency market 2023!

The top four cryptocurrencies to buy in 2023

The top five cryptocurrencies to buy in 2023 are:

Bitcoin (BTC)

Ethereum (ETH)

Ripple (XRP)

IOTA (MIOTA)

The first three of these coins are the biggest and most popular cryptocurrencies right now, with a combined market cap of over $200 billion. Each of them has its own unique features that make it stand out from the rest of the pack—Bitcoin’s decentralized nature, for example, makes it ideal for people who want to keep their money safe without having to rely on banks or financial institutions. Ethereum allows users to build smart contracts into their applications; whereas IOTA uses quantum technology as part of its blockchain network instead of relying on traditional cryptography methods like public key encryption systems or symmetrical keys used by RSA encryption algorithms…

Conclusion for the cryptocurrency market 2023!

The cryptocurrency market is getting bigger and more diverse every day.

There are now so many cryptocurrencies available that it can be hard to keep track of them all, but this guide will help you stay on top of things by providing an overview of four main types: Bitcoin, Ethereum Classic (ETC), Litecoin, and Monero. Each type has its own strengths and weaknesses; some are better suited for long-term investment while others might work better short-term trades or quick buys. It’s up to you as an investor to decide which one most closely aligns with your goals!

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Bitcoin (BTC) Price Slides as Inflation Is Going Up

Real-world economic performance undeniably impacts global cryptocurrency markets, with Bitcoin (BTC), the biggest crypto asset by market capitalization, proving an excellent guide to the health of the crypto industry. Recent increases in inflation worldwide, but particularly in the US, have seen the value of Bitcoin slide during the second half of 2022 as the global economic crisis takes hold.

While this isn’t great news for existing investors in the world’s leading cryptocurrencies, such as BTC, excellent investment opportunities in exciting new crypto projects remain. One of the most enticing new crypto projects is Metacade, which saw an enthusiastic uptake during its beta presale stage, raising almost $1 million in just three weeks.

What is Metacade?

Metacade is the world’s first virtual gaming arcade that uses Web3 and blockchain technology to revolutionize the GameFi metaverse industry. The platform will host the broadest range of play-to-earn (P2E) games in the metaverse and offer gamers the same level of fun and social interaction they’d get visiting a real-life video arcade from the comfort of their gaming chair or sofa.

The P2E element of the community is one of several ways community users benefit from the platform. The other revenue stream initiatives are:

Compete2Earn – earning by staking tokens and gaining tournament rewards Create2Earn – earning by interacting with the community and its members Work2Earn – earning through finding new Web3 role on the jobs board, which launches in Q1 2024.

In addition to the opportunities to earn, Metacade is a platform that allows budding developers to earn their stripes by supporting them to learn game development and has plans to become a self-sufficient and fully-fledged DAO by Q4 2024.

How Metacade works

Unlike many GameFi platforms, Metacade has a diverse offering that stretches beyond the P2E element. The native token for the platform is the MCADE coin, and there are several ways Metacade generates revenue.

Metacade’s revenue-generating features include a range of pay-to-play arcade games, just like gamers would expect to find in a real-world video arcade. There’s also advertising on the platform, entry fees for prize draws and to compete in tournaments, and the launchpad initiative, which allows external companies to release games in Metacade for a price. These revenue streams provide the funds that flow into gamers’ wallets as they earn rewards.

The number of titles available on Metacade will continue to grow. This growth will be aided from Q3 2023 by the introduction of the Metagrants initiative. Metagrants are a source of funding for developers to build games on the platform. Developers submit gaming proposals to be voted on by MCADE token holders, who determine the community’s favorite ideas. The winning developers will receive funding to help turn their proposals into reality. The first Metagrant-backed games hit the Metacade library in Q1 2024.

Other features in the pipeline include introducing a jobs board in Q1 2024 to boost the Work2Earn initiative. The board will feature a range of opportunities from internships, short-term gig work, and full-time roles within the GameFi industry with Metacade-approved partners, giving anyone with a genuine interest in working in Web3 development a helping hand to get started in the industry.

Meanwhile, Metacade’s transition into becoming a DAO begins in Q2 2023, with the process estimated to take 18 months before community members assume all of the critical roles. This autonomy is one of Metacade’s leading lights; it hands control of the platform’s future direction to the most important community members.

Why could MCADE surge?

The breadth of Metacade’s plans, found in more detail in their white paper, makes it an exciting prospect for investors hunting for new crypto projects. With many other GameFi developments focusing on a minimal range of options, it’s easy for them to become little more than a fad.

Metacade’s offering will not fall into that trap. The range of games on offer will continue to increase, providing additional opportunities to earn, whether through competitions, playing, or creating social content to engage with the community. Furthermore, the continual addition of new games means there’s no risk of the platform becoming boring or stale since it will continually reinvent itself with the regular release of new and exciting titles. As a result, Metacade has solid project longevity. 

Additionally, the community will ultimately have complete autonomy over how Metacade develops. Gamers’ interests will forever be at the heart of the platform’s development, unlike in more traditional gaming, where developers have to balance that with providing a return to shareholders.

These plans place Metacade at the forefront of the blockchain gaming revolution.

How to purchase MCADE tokens

The Metacade beta sale sold out in less than four weeks, making it one of the most attractive new crypto projects currently in its presale stage. The price will increase by more than double as  the ninth and final presale round concludes, raising a total market cap of $28 million.

Getting on board with Metacade couldn’t be simpler. Tokens can be purchased on Metacade’s website by anyone with a Wallet Connect-supported crypto wallet. 

You can purchase MCADE with ETH (Ethereum) or USDT (Tether). First, connect your wallet to Metacade’s website to access the DEX, and then accept the option to purchase MCADE with ETH or USDT.

You can buy BTC at eToro here.

You can participate in the Metacade pre-sale here.

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ETH CEO: 5 Top Crypto to Buy NOW in 2022. Bitcoin & Ethereum Price Update 2022

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If we think this is something we can sell, we’re all in

SEC stopped ICOs, lending programs, agreements for future tokens Dinner meetings between Bankman-Fried and government officials were “bad judgment”

John Stark, a former chief of the SEC office of internet enforcement and president of John Reed Stark Consulting, joined CNBC’s ‘Squawk Box’ to discuss the collapse of crypto exchange FTX.

Worrying lack of due diligence

The host raised the issue of due diligence, more specifically the lack thereof where investments in FTX were concerned. He asked Stark what can be done about that. John Stark responded by quoting Sam Bankman-Fried himself: 

We don’t look at the product, service, etc…we look at whether this is an idea we can pitch to someone. If we think this is something we can sell, then we’re all in. Due diligence is absurd. It’s just the wrong way to invest. When you invest, you should look for value, you should look for the long-term. 

The (FTX) business model is something the public isn’t used to…

Stark replied:

I agree the model is different, and to me it’s absurd, but…these are investors like everyone else. 

Which agency…should be ashamed that we’re in this situation, where customers have lost their money and have no claims on anything coming out of bankruptcy?

Stark defended the state agencies in response, pointing out they’ve won many cases; they stopped ICOs, lending programs, agreements for future tokens, they stopped Coinbase from doing the lending program…They have been very aggressive and are going to be more aggressive when it comes to these crypto intermediaries.  

He added that he would be ‘shocked’ if regulators did not meet with FTX, saying:

You try not to meet with con artists. 

Prompted by the host to discuss the “dinner meetings” between Bankman-Fried and government officials, he said those occurrences weren’t impeachable offenses, only bad judgment.  

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MicroStrategy to offer Bitcoin Lightning solutions in 2023

MicroStrategy executive chairman Michael Saylor has shared his firm’s plans to release Bitcoin Lightning Network-powered software and solutions in 2023.

In a Twitter Spaces event on Dec. 28, Saylor shared that the company is exploring software and solutions that utilize the Lightning Network, such as solutions that “support” enterprise marketing as well as a cybersecurity solution aimed at corporate websites.

The Lightning Network is a layer-2 payment protocol layered on top of Bitcoin’s blockchain that allows for off-chain transactions, raising payment throughput and lowering transaction fees.

A business intelligence and tech company known for its massive Bitcoin holdings, MicroStrategy has been looking to beef up its Lightning Network-versed team, most recently announcing it was looking to hire a software engineer to build a Lightning Network-based software-as-a-service platform.

During the Twitter Spaces conversation, Saylor explained that chief marketing officers could potentially use the Lightning Network to incentivize customers — such as giving out satoshi rewards for engaging in activities such as posting good reviews or completing surveys.

The company also wants to make it possible for any enterprise to “spin up” Lightning infrastructure in an “afternoon,” he said.

The MicroStrategy chairman again made mention of his “Lightning wall” cybersecurity idea, essentially a Bitcoin-based paywall that would protect websites from cybersecurity attacks by requiring visitors to put down a deposit in Satoshi.

Saylor explained that users who want to access sensitive corporate websites would be required to deposit “100,000 satoshi” to “guarantee” safe passage, which would be returned instantly once the user has finished their visit.

He noted this is something that credit cards could not offer due to the time delays involved in getting funds back, stating: 

“The problem with credit cards is that you couldn’t reasonably post $20 to 100 websites each day and then you get the $20 back in one second, could you?

Saylor believes it is only a matter of time before someone creates the Lightning version of the “Netscape browser,” which he believes will involve “something like” a Lightning wallet that holds dollars and various cryptocurrencies.

He believes that if this wallet is created in a non-custodial way, it has the potential to spread to 100 million people.

During the Twitter Spaces conversation, Saylor again hailed the Lightning Network as the “internet of money” and praised its “inspirational” progress.

He said the company has teams working on it and are looking to bring something out by “next year,” adding that it’s more likely it will be able to show something in the first quarter.

Related: Bitcoin Lightning Network to be used in fiat transfers between Europe and Africa

In October, Michael Saylor retaliated against Eric Wall over his suggestion that Saylor has not made more than three Lightning transactions in his life.

Most recently, a new type of BTC address was introduced. Lightning Addresses allowusers to make transactions on the Lightning Network almost instantly, as opposed to the 10-minute average for regular Bitcoin transactions.

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Coin Projects: Exploring the Opportunities and Benefits of Crypto Currencies and NFTs

As the world becomes increasingly digitized, it’s no surprise that the financial industry has followed suit. One of the most exciting developments in this realm is the emergence of cryptocurrency and non-fungible tokens (NFTs). These technologies have the potential to revolutionize the way we think about money and ownership, and they present a wealth of opportunities and benefits for those willing to take the plunge. In this article, we’ll take a closer look at the opportunities and benefits presented by coin projects, NFTs, and the combination of the two.

What Are Cryptocurrency and NFTs?

To begin, let’s define these terms. Cryptocurrency is a digital or virtual currency that uses cryptography for security and is decentralized, meaning it is not controlled by any government or financial institution. Bitcoin, the first and most well-known cryptocurrency, was introduced in 2009. Since then, numerous other cryptocurrencies have been created, each with their own unique features and uses.

NFTs, on the other hand, are unique digital assets that are authenticated on a blockchain, a decentralized digital ledger. NFTs can represent a wide range of assets, including art, collectibles, and even virtual real estate. One of the key features of NFTs is that they are non-fungible, meaning they cannot be exchanged for other assets of equal value. This makes them ideal for representing one-of-a-kind items or rare collectibles.

The Potential for Financial Gain

One of the biggest opportunities in the world of coin projects is the potential for significant financial gain. Cryptocurrencies and NFTs are highly volatile assets, which means their value can fluctuate greatly in a short period of time. This volatility can be both a blessing and a curse, as it presents the potential for both big wins and big losses. However, for those willing to take the risk, the potential rewards can be substantial.

Participating in the Development of a New Financial System

Another opportunity presented by coin projects is the chance to participate in the development of a new financial system. Cryptocurrencies and NFTs have the potential to fundamentally change the way we think about money and ownership, and those who get in on the ground floor have the opportunity to shape the direction of this technology. This means that coin projects not only offer the potential for financial gain, but also the chance to be a part of something much bigger.

The Online Gaming Industry

One area where the combination of cryptocurrency and NFTs is particularly promising is in the world of online gaming. In-game economies are a huge part of many popular games, and the use of cryptocurrency and NFTs can add an extra layer of authenticity and value to these virtual worlds. For example, players could use cryptocurrency to buy and sell virtual goods or NFTs to represent unique in-game items. This not only adds an extra level of immersion for players, but it also creates new opportunities for developers to monetize their games.

The Art and Collectibles Market

There are also opportunities in the world of art and collectibles. The use of NFTs has already begun to change the way art is bought and sold, as they allow for the creation of one-of-a-kind digital pieces that can be easily authenticated and traded. This has the potential to open up the art market to a wider audience and create new opportunities for artists to sell their work.

Conclusion

Overall, the world of coin projects, cryptocurrency, and NFTs is full of opportunities and benefits. Whether you’re looking to make a quick buck

in the short term or are interested in being a part of the long-term development of these technologies, there is a place for you in this exciting and rapidly-evolving field.

It’s important to keep in mind that investing in cryptocurrency and NFTs carries risks, as with any investment. It’s important to do your due diligence and thoroughly research any coin projects or NFT opportunities before committing any money. However, for those willing to take the risk, the potential rewards and benefits are substantial.

In summary, coin projects, cryptocurrency, and NFTs offer a wide range of opportunities and benefits for those willing to take the plunge. From the potential for financial gain to the chance to be a part of the development of a new financial system, there is something for everyone in this exciting and rapidly-evolving field.

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The Top Cryptocurrencies to Invest in for 2023: A Complete Guide!

Introduction:

Cryptocurrency has become an increasingly popular investment option in recent years, with more and more people looking to get involved in the market. With so many different cryptocurrencies to choose from, it can be overwhelming to try and pick the right ones to invest in. In this beginner’s guide, we’ll take a closer look at the top cryptocurrencies to consider investing in for the coming year, as well as some best practices for making informed investment decisions.

The Top Cryptocurrencies to Invest in for 2023

What is Cryptocurrency?

Before we dive into the top cryptocurrencies to invest in for 2023, it’s important to first understand what cryptocurrency is. Cryptocurrency is a digital or virtual currency that uses cryptography for security and operates on a decentralized platform. This means that it is not controlled by any government or financial institution and is instead powered by a network of computers around the world. The most well-known cryptocurrency is Bitcoin, which was created in 2009 by an unknown individual or group using the pseudonym Satoshi Nakamoto. Since then, hundreds of other cryptocurrencies have been created, each with its own unique features and applications.

One of the main characteristics of cryptocurrency is its decentralized nature. Unlike traditional currencies, which are issued and regulated by central banks, cryptocurrency is not subject to the same rules and regulations. This makes it a potentially more secure and flexible option for both individuals and businesses. For example, cryptocurrency can be used to make fast and secure international transactions without the need for intermediaries like banks, which can save time and money.

Best Practices for Choosing Cryptocurrencies to Invest In:

Do your research: It’s important to thoroughly research any cryptocurrency before investing in it. Look for information about the team behind the project, the technology it is built on, and its potential use cases. Read through the project’s white paper and see if it has a clear and viable business plan. Look for any red flags, such as plagiarism or unrealistic promises, as these may indicate that the project is not legitimate.

Diversify your portfolio: Don’t put all your eggs in one basket. Consider investing in a variety of different cryptocurrencies to spread out your risk. This can help to protect you from losses if one particular coin does not perform well.

Keep an eye on the market: Cryptocurrency prices can fluctuate significantly, so it’s important to stay up-to-date on the latest market trends and be prepared to adapt your investment strategy as needed. Use tools like coinmarketcap.com to track the price movements of different cryptocurrencies and stay informed about any major news or developments that may affect their value.

Manage your risk: Investing in cryptocurrency can be risky, so it’s important to manage your risk wisely. Don’t invest more than you can afford to lose, and be prepared for the possibility of losing all or part of your investment.

The Top Cryptocurrencies to Invest in for 2023:

Bitcoin: Bitcoin is the original and most well-known cryptocurrency, and it remains a solid investment option for 2023. Its value has risen significantly over the years, and it has a large and active user base. Bitcoin is widely accepted as a form of payment, and it has a strong track record of being a secure and reliable investment.

Ethereum: Ethereum is a decentralized platform that enables smart contracts and applications to be built and run without any downtime, fraud, or interference from a third party. It is considered to be a strong investment option due to its growing adoption and use cases. Ethereum has a wide variety of applications, including decentralized finance (DeFi) platforms, prediction markets, and supply chain management systems. Its strong developer community and robust technology make it a potentially good investment for the long term.

Litecoin: Litecoin is a cryptocurrency that is similar to Bitcoin, but it is designed to be faster and more efficient. Its low transaction fees and high adoption rate make it a potentially good investment for 2023. Litecoin is widely accepted as a form of payment, and it has a strong track record of stability and security.

Ripple: Ripple is a cryptocurrency that is focused on facilitating fast and low-cost international payments. Its partnerships with major banks and financial institutions make it a potentially strong investment for 2023. Ripple has been widely adopted by financial institutions as a way to speed up cross-border payments and reduce costs, which could drive its value higher in the coming years.

Cardano: Cardano is a decentralized platform that enables the creation of smart contracts and applications. It is built on a proof-of-stake consensus algorithm, which makes it more energy-efficient than other cryptocurrencies. Cardano is focused on providing a scalable and secure platform for the development of decentralized applications (dApps), and it has a strong team of developers working on the project.

Conclusion:

Choosing the top Cryptocurrencies to Invest in for 2023 can be a challenging task, but by doing your research, diversifying your portfolio, and keeping an eye on the market, you can increase your chances of making informed investment decisions. Some of the top cryptocurrencies to consider investing in for 2023 include Bitcoin, Ethereum, Litecoin, Ripple, and Cardano. Remember to always invest wisely and do not risk more than you can afford to lose.

It’s worth noting that the cryptocurrency market is highly volatile, and the value of any given coin can fluctuate significantly over time. It’s important to do your own research and consult with financial advisors before making any investment decisions. Cryptocurrency investment is not for everyone, and it’s important to be aware of the risks and challenges associated with this type of investment.

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Filecoin price pumps but product concerns remain

Filecoin price popped to the highest level since December 16 despite the rising risks of its utility. It rose to a high of $3.31, which was much higher than the year-to-date low of $2.3. Other storage tokens like Siacoin and Storj also rebounded.

Filecoin utility challenges

Filecoin is the biggest storage blockchain platform in the world. Like other storage platforms, its use case is relatively simple to grasp. Unlike centralized storage platforms like Google Cloud and Microsoft Azure, it uses decentralize storage platforms.

Anyone with a computer, smartphone, or data center can provide storage in its platform and then earn a reward when people use it. This data is safely stored in their network in a highly encrypted format. 

The benefit of using a decentralized platform is that it is highly scalable. For a person in Nairobi, they will access their data from a storage provider in the city. Similarly, for a person in Washington, they will store and access their data from someone in the city.

According to its data explorer, there are 3,920 active miners in the network who provide 19.069 EiB in its platform. This is a significant number that is more than 21.9 million terabytes.

Still, Filecoin faces several important challenges. First, the network is competing with well-established brands like Microsoft and Google. These centralized platforms work well and have a long track record of safety.

Second, it is clear that it has a significantly big capacity that is hard to use. One of its biggest use cases is in the storage of Non-Fungible Tokens (NFT) through its partnership with OpenSea. Recently, however, the volume of NFTs traded per month has dropped sharply. Therefore, without a clear use case, it will take a miracle for Filecoin to become a successful platform.

Filecoin price prediction

FILUSD chart by TradingView

The daily chart shows that the FIL price made a strong bullish breakout on Tuesday as investors bought the token’s dip. It moved slightly above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) moved to the overbought level. It has also formed what looks like an inverted head and shoulders pattern.

Therefore, despite the H&S pattern, Filecoin will likely resume the bearish trend as fundamentals disappoint. A move above the resistance at $3.50 will invalidate the bearish view.

How to buy Filecoin

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Disclaimer

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy FIL with Binance today

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Expect a long winter after FTX meltdown, says former Binance CFO

Former Binance CFO expects the ongoing crypto winter to last longer than expected.

Zhou said China’s ban on crypto trading and mining offers certainty and clarity.

More restrictive regulation should be expected in the industry, Zhou added.

The crypto winter will be long, says Zhou Wei

Zhou Wei, the former chief financial officer (CFO) of Binance, told the South China Morning Post (SCMP) in a recent interview that he expects the ongoing crypto winter to last longer following the FTX collapse.

The former CFO predicted that the the crypto market would remain depressed for a long time with more restrictive regulations on the way. He stated that;

“Basically, we have to all brace ourselves for a pretty long winter in the crypto world. It’s going to push everyone into a deeper bear market.”Zhou resigned from his position as Binance CFO last year and is now the CEO of Coins.ph, a fiat and crypto mobile wallet in the Philippines. 

Regulators in the United States are already looking to increase their scrutiny of cryptocurrencies. Earlier this week, SEC chairman Gary Gensler revealed that the crackdown on the cryptocurrency market is just starting. Zhou said;

“There’s going to be more legislative action taking place, and crypto-related policies around the world may become more restrictive.”

However, the former Binance CFO said he hopes the United States government will regulate the crypto industry “in a pro-growth way” since it sets the direction on how the rest of the world would react. 

China’s crypto ban is okay

According to Zhou, looking at China’s crypto ban in retrospect makes the move a positive one by the Chinese government. He argued that there is certainty and clarity in China following the government’s ban on cryptocurrency trading and mining.

Despite the ban, the SCMP said an underground cryptocurrency trading community continues to exist in China. The publication revealed that Mainland Chinese accounted for 8% of FTX’s customer base, four times higher than the 2% recorded in the United States.

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SBF sent home and Binance gets Voyager assets: Hodler’s Digest

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SBF sent home after his parents put up their house to cover his astronomical bail bond

Sam Bankman-Fried will spend the holidays with his family in Palo Alto, California, after his parents secured $250 million in bail funds with the equity in their home. Among the conditions of the bail are home detention, location monitoring and his passport surrender. The former FTX CEO signed surrender documents on Dec. 20, allowing his extradition from the Bahamas to the United States, where he faces eight charges that could keep him behind bars for the rest of his life. Bankman-Fried will now wait for his sentence at home with his family.

Caroline Ellison and Gary Wang plead guilty to fraud charges

Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty to federal fraud charges. Ellison, however, is working on a plea deal with the Office of the United States Attorney for the Southern District of New York, which would evade all the seven charges against her, resulting in a $250,000 bail bond and prosecution only for criminal tax violations. The agreement doesn’t provide protection against any other charges that Ellison might face from any other authorities. Wang and Ellison are reportedly cooperating with U.S. authorities on investigations related to FTX’s collapse.

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Are You Independent Yet? Financial Self-Sovereignty and the Decentralized Exchange

Genesis and DCG seek path for the recovery of assets amid liquidity issues

Global investment bank Houlihan Lokey has proposed a plan to resolve the liquidity issues at crypto lender Genesis and its parent company, Digital Currency Group (DCG). The plan, devised by Houlihan on behalf of a committee of creditors, would further provide a path for clients of crypto exchange Gemini to recover assets owed by Genesis and DCG. Genesis platform withdrawals have been suspended since Nov. 16, days after the company disclosed that nearly $175 million of its funds are stuck in an FTX account.

Binance.US set to acquire Voyager Digital assets for $1B

With a bid of $1.022 billion, Binance.US will acquire the assets of bankrupt crypto lender Voyager Digital. The sale, however, is subject to a creditor’s vote and closing requirements. A hearing will also be held by the presiding bankruptcy court to approve the purchase agreement on Jan. 5, 2023. In good faith, Binance has agreed to deposit $10 million and reimburse Voyager for certain expenses up to a maximum of $15 million.

Twitter adds BTC and ETH price indexes to search function

In its latest move into the crypto space, Twitter has added price indexes for Bitcoin and Ether to its search function. The new feature allows users to simply search for the ticker symbol, whether for a stock or crypto, and check price’s graph. Other cryptocurrencies, including Dogecoin, did not make the list. The company plans to expand its coverage in the coming weeks.

Winners and Losers

At the end of the week, Bitcoin (BTC) is at $16,835, Ether (ETH) at $1,218 and XRP at $0.35. The total market cap is at $811.38 billion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are XDC Network (XDC) at 14.04%, Ether (ETH) at 2.13%, and Pax Dollar (USDP) at 1.47%.

The top three altcoin losers of the week are Chain (XCN) at -39.75%, Filecoin (FIL) at -21.77%, and Trust Wallet Token (TWT) at -19.43%.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis. 

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Most Memorable Quotations

“Regulation should focus on intermediaries (the centralized actors in cryptocurrency), where additional transparency and disclosure is needed.”

Brian Armstrong, CEO of Coinbase

“This is why you have situations like the Mango exploit happen where the exploiter will first steal the funds and then start negotiating. There’s no proper incentive to report.”

Web3 developer

“If you can make a wallet that a billion people use — that’s a huge opportunity.”

Vitalik Buterin, co-founder of Ethereum

“Decentralization will include blockchain as a foundational element, but other technologies will expand the potential in new ways that blockchain was never designed to do.” 

Alex Page, CEO of Nillion

“Argentina is becoming a hub for bringing tech development and resources to Latin America from the rest of the world.”

Ryan Dennis, senior manager at the Stellar Development Foundation

“The most challenging thing for [blockchain analytics] firms working on this today is when money moves off chain and into the banking system because they’re no longer able to track it.”

Peter Smith, founder and CEO of Blockchain.com

Prediction of the Week 

Bitcoin dips below $16.7K as US GDP meets fresh BTC price ‘death cross’

Bitcoin prices dip below $16,700 at the end of the week, after recovering some ground on the previous day.

A Santa Claus rally for Bitcoin is unlikely to happen, as the mood among some pundits is firmly bearish.

Pseudonymous Twitter user Daan Crypto Trades called attention to Bitcoin’s yearly close, which is likely to be Bitcoin’s third negative performance year. “The percentage loss this year is sitting right in between the other two negative years, being 2014 and 2018,” he noted on Twitter.

FUD of the Week 

Crypto platform Paxful removes ETH from its marketplace

Ethereum’s native token, Ether, is no longer available on Paxful, a peer-to-peer cryptocurrency exchange. Ray Youssef, CEO of Paxful, announced the move in a message to the roughly 11.6 million users of the platform. Among the reasons to unlist the token, Youssef mentioned Ethereum’s switch from a proof-of-work to proof-of-stake consensus, claiming the transition has turned ETH into a “digital form of fiat.”

California regulators order MyConstant to cease crypto-lending services

Over alleged violations of state securities laws, the California Department of Financial Protection and Innovation has ordered crypto lending platform MyConstant to cease operating. Mentioning peer-to-peer lending services and “unlicensed loan brokering,” the authority said MyConstant offered and sold unqualified non-exempt securities.

South Korean court freezes $92M in assets related to Terra tokens

South Korean authorities continue to investigate and freeze funds of the people involved with the Terra ecosystem. By order of the local court, several assets of Kernel Labs, a Terraform Labs affiliate, valued at $92 million have been frozen. Kernel Labs CEO Kim Hyun-Joong reportedly holds the largest amount of illegal proceeds from Terra. In November, assets worth over $104 million were also frozen following a request from South Korean prosecutors in the case.

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Editorial Staff

Cointelegraph Magazine writers and reporters contributed to this article.

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