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🇮🇹 Italy Is Establishing Crypto Environment That Complies With New EU Laws
According to polls conducted by the Bank of Italy, barely 2% of Italian households own cryptocurrency on average, and the market exposure of Italian intermediaries is likewise quite small. a supervisory framework in anticipation of European Union regulations for regulating cryptocurrency.
During a speech on the state of the world economy in Milan, Visco discussed the significance of regulating cryptocurrency and provided an overview of ongoing global, European, and Italian measures. Due to the sector’s tenuous linkages to traditional banking and the slowing of Italy’s and the euro area’s economies, he added, the collapse of the crypto market last year had no “systemic effects” on “the actual economy.”.According to polls conducted by the Bank of Italy.
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🟠 Binance Requires WazirX To Withdraw All User Funds From The Exchange
Users of the WazirX exchange, which is operated by Zanmai Labs, are no longer able to make use of the Binance wallet services after it was revealed on February 3 that the platform has terminated its provision of wallets and other associated technical services to the company.
At the time of this publication, according to Binance, Zanmai Labs had not completely withdrawn all of the assets stored in the Binance wallet that was being utilized for WazirX activities. In addition, the platform noted that this action would not have any effect on their users, including businesses and organizations who make use of the Wallet services. According to the statement, the company has never handled or controlled WazirX’s operations in any capacity, including those relating to user assets and user actions.
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🪙 Uniswap Foundation charts path forward amid cross-chain bridge governance debate
The Uniswap Foundation's executive director said a cross-chain bridge governance vote garnered "more attention than any Uniswap proposal in recent memory.". Devin Walsh's post came after a spirited debate over which bridge — a protocol used to connect blockchains — will be used to tie Uniswap.
LayerZero, which came in second place in the vote, argued in a statement Tuesday that, in light of sentiments expressed by Uniswap stakeholders, it was the "preferred bridge" out of the group. The startup also argued that the foundation should hold a vote with both Wormhole and LayerZero as options. In her post, Walsh wrote that the foundation "saw the clear opportunity to create a better process for future cross-chain deployment proposals" and invited feedback on a proposal for a cross-chain bridge assessment group.
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📣 Kin Foundation debuts Solana-based on-ramp tool for app developers
The Kin Foundation has rolled out a solution called Kinetic that will allow developers to integrate Solana into their apps thus enabling them to introduce crypto use cases on their platforms, the foundation said on Tuesday. The software package enables easy in-app crypto integrations.
Kinetic is an open-source middleware technology for Solana-based in-app integration. It includes both API and SDKs necessary for builders to deploy crypto integrations on their apps. The process will require minimal coding effort, the foundation said. This is to ensure that the software package is useful to both crypto-native and mainstream app developers. Kinetic achieves this by ensuring that implementation details associated with managing token transfers are relegated to the background.
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💰 Ripple CTO Indicates Satoshi Nakamoto’s Identity and Justification for Untouched Massive Wealth
The chief technology officer of Ripple, David Schwartz, continues to believe that Satoshi Nakamoto, the person who created Bitcoin under the pseudonym, was more of a group than an individual. Except for the initial 10 BTC sent to Hal Finney in 2009, not a single Bitcoin has ever been removed.
The debates began when Mr. Huber, a crypto aficionado who goes by the Twitter handle @Leerzeit, tweeted that the one thing he would never comprehend was the absolute conviction that Satoshi Nakamoto had vanished. He continued by saying that the likelihood was significantly higher if there was a group. Except for the initial 10 BTC sent to Hal Finney in 2009, not a single Bitcoin has ever been removed from any of its wallets since it was initially established, allegedly by Nakamoto.
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🪙 Aave set to launch third version of its crypto lending protocol on Ethereum
DeFi lending platform Aave is set to launch the third version of its protocol on Ethereum after a successful DAO vote. Aave v3 on Ethereum will be launched with support for seven assets: wrapped bitcoin, wrapped ether, wrapped staked ether, USDC, DAI, link, and aave.
Pricing for all assets apart from wrapped bitcoin and wrapped staked ether will come directly from a Chainlink feed. Chainlink is an oracle protocol that can provide data such as price feeds to smart contract protocols. The wrapped staked ether and wrapped bitcoin pricing feeds will rely on price adapter smart contracts, according to Aave developer BGD Labs. These price adapter smart contracts are still based on Chainlink feeds as well. These assets were proposed by DeFi risk manager Chaos Labs.
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⚡️ Genesis Owes Over $3,8 Billion To Firm’s Largest 50 Creditors
According to new documents, the struggling cryptocurrency lender Genesis owes billions of dollars to its 50 biggest debtors. Before filing for bankruptcy, the crypto firm and Gemini teamed up to launch Gemini’s Earn program.
The crypto business owes $3.8 billion to its top creditors, who include hedge fund manager VanEck and the Stellar Development Foundation, the makers of XRP competitor Stellar, according to recent voluntary bankruptcy filings (XLM). Coincu previously reported on January 20, that Genesis Global filed for Chapter 11 bankruptcy protection in New York federal district court. As reported in the statement, the firm owes $765 million to members of Gemini’s Earn program, the largest single sum it owes.
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🟠 Binance Charity’s Giving Over 67,000 Scholarships To Drive Web3’s Potential
Binance Charity, Binance’s charitable arm, will provide 30,665 scholarships to students eager to pursue careers in Web3 in 2023. More than 82,000 applications were submitted to the Binance Charity Scholar Program over the course of the previous six months.
Thanks to its support of more than 67,000 scholarships at top Web3 educational institutions, the Binance Charity Scholar Program (BCSP) enables the future generation of digital leaders to advance their skills, knowledge, and experience without being constrained by a lack of resources. Over the last six months, Binance Charity has received more than 82,000 applications for its Binance Scholar Program, which has so far committed $2.2 million BUSD to fund free access to some of the top Web3 educational options available worldwide.
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🪙 Ripple CEO Revealed The Blockchain Company Exposed FTX With $10 Million XRP
In a recent fireside discussion on CNBC’s Tech Transformers at Davos, Ripple CEO Brad Garlinghouse revealed that the blockchain payments startup had exposure to FTX. He said that the company’s exposure to FTX, which made up 1% of liquid assets, wasn’t too consequential.
Garlinghouse said that the now-defunct cryptocurrency exchange received a $10 million XRP lease from Ripple, which “they used on various things related to FTX.”. According to Garlinghouse, the company anticipates recovering those cash via US bankruptcy procedures. However, as per its quarterly report, Ripple often grants short-term XRP leases to market makers and players from XRP intended for sales. These leases are often returned to Ripple. The total number of unpaid leases as of Q3 2022 was 91.1 million XRP.
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💰 The Web3 Action Role-Playing Game Synergy Land Has Moved To Polygon
Synergy Land, a web3 action role-playing game presently in production, stated on January 17 that it will migrate from the Solana blockchain to Polygon. Polygon looks to be a popular blockchain among several high-profile initiatives.
The blockchain musical chairs game does not appear to be slowing down. Synergy Land, a web3 action role-playing game in development, has announced that it would migrate from the Solana blockchain to the Polygon blockchain. While Synergy Land is a modest and unknown initiative, it joins a growing list of gaming and NFT projects that have lately decided to migrate to a new blockchain. services like as a crypto wallet for holding in-game assets, to help with Synergy Land’s move.
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🇧🇬 Bulgaria’s Prosecutor General Insists Nexo Investigation Isn't Political
There is no political aspect to the investigation into crypto lender Nexo, a spokesperson for Bulgaria’s Prosecutor General has insisted, according to local reports. “It has become a national sport to attack the institutions,” the spokesperson Siika Mileva added.
Last week, the company said it believed the large-scale action taken against it, which included a raid on its offices in Sofia and the charging of four people with various offenses, were politically motivated. Nexo lets users earn interest on their cryptocurrencies, as well as take out crypto-backed loans for cash. Bulgaria is in the midst of a long-running political crisis, with the country likely to hold its fifth general election in the space of two years this spring.
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🪙 Tether Coordinates With Huobi Amid FUD About TRC20
On January 13, 2023, Tether announced to coordinate with Justin Sun’s Huobi exchange to perform a chain swap, converting from Ethereum ERC20 to TRON TRC20, amidst some FUD about TRC20 in the Chinese market.
The story has begun when Wu Blockchain reported on January 12 that some OTC merchants in the Chinese market said that they no longer accept TRC20 USDT, and need users to go to the exchange to exchange for ERC20 USDT before trading. Tether team released on Twitter that Tether announced coordination with the Huobi exchange, converting from Ethereum ERC20 to TRON TRC20
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💰 FTX Shareholders List Appears Notable New Names
The FTX shareholders list that FTX has submitted is gradually revealing the identities of equity holders and the number of shares they own from various FTX companies. The list also discloses the stock holdings of former FTX and Alameda leaders like SBF, Gary Wang.
The document, which was submitted on January 9, lists the names of equity holders as well as the number of shares they own in several FTX companies, including West Realm Shires Inc, FTX Trading Inc, Clifton Bay Investments, and others. NFL player Tom Brady, supermodel Gisele Bundchen, Canadian billionaire Kevin O’Leary, and other notables are among the individual shareholders of FTX, while institutional investors include BlackRock, Coinbase Ventures, Third Point Ventures, Multicoin, and Paradigm, among others.
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💰 Cardano Founders Will Open New Hospital Accepting ADA Payments In 2023
Customers can use ADA to pay for medical services at Cardano founder Charles Hoskinson’s new hospital. However, the Cardano designer has not stated whether he accepts other major crypto assets such as Bitcoin (BTC) and Ethereum (ETH).
Cardano founder Charles Hoskinson has announced the opening of “Hoskinson Mental Health and Wellness Clinic,” a new hospital. He announced the development a few days ago and stated that the hospital will open in February 2023. The clinic is partially operational and will resume normal operations next month. According to the company’s LinkedIn page, the hospital now employs roughly 10 people and is aiming to expand its workforce.
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⚡️ Nearly 70% Of Dogecoin Holders Are Profitable While Most Shiba Inu Holders In Loss
According to a top blockchain analytics business, nearly 70% of meme token Dogecoin (DOGE) holders are profitable, whereas the bulk of rival meme token Shiba Inu (SHIB) owners are losing money. According to IntoTheBlock, 65% of DOGE holders profit from their investments, while 34% lose money.
Meanwhile, 45% of Shiba Inu owners live in green spaces, while 47% live underwater. The remainder has reached the break-even point. Both dog-themed tokens have recently gained popularity. Following claims that billionaire Elon Musk, a DOGE backer, is attempting to integrate crypto payments to Twitter, the price of Dogecoin has risen. According to IntoTheBlock, the majority of holders of the top two cryptos by market cap, Bitcoin (BTC) and Ethereum (ETH), are profiting from their investments.
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🪙 Stakewise Review: Unlocks The Earnings Potential Of ETH2 And Boosting The Staking APR
StakeWise is a liquidity staking protocol that currently supports Ethereum and Gnosis. The protocol is run by the StakeWise DAO, whose main service is Ethereum liquidity staking. Users are already being rewarded for staking Ethereum 2.0 and putting their ETH into the staking contract.
Unfortunately, managing Ethereum staking independently requires quite a bit of technical knowledge, and most users don’t want to deal with node outages and the potential penalties that come with them. Additionally, by explicitly removing the user’s ability to use the staked ETH during the current DeFi bull run, ETH is locked up within the ETH2 staking contract. These systems solve many of the aforementioned issues. StakeWise will be the subject of this evaluation.
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📣 VitaDAO (VITA) Increases By 60% As The Firm Announcing $4.1 Million Fundraising
VitaDAO, a DeSci track longevity startup, announced the completion of a $4.1 million funding round on January 30th, led by Balaji Srinivasan, former CTO of Coinbase, and Pfizer Ventures, the investment arm of Pfizer, the world’s largest pharmaceutical company.
According to the announcement, VitaDAO plans to use the funds to support lifespan research initiatives and biotech firms produced out of DAO next year. DeSci (Decentralised Science) is a program that aims to build a public infrastructure for the fair and equitable funding, development, review, crediting, storage, and dissemination of scientific information through the use of Web3 techniques such as NFT, smart contracts, and DAO. Ethereum founder Vitalik Buterin also discussed the usage of quadratic funding.
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🪙 USD Coin Issuer Circle Released Its Reserve Report For December 2022
Circle, the company behind the USD Coin, has produced an accountant-verified report on its treasury reserve assets, which support more than $44.5 billion in tokens now in circulation. The fund also has $48.9 million in cash, with another $33 million owed to it.
Circle’s December 2022 reserve report, which Grant Thornton audited, details the current makeup of the stablecoin issuer’s reserve vault. It reports that 44,553,543,212 USDC is now backed by $44,693,963,701 USD in custodial accounts. It is worth mentioning that a sizable chunk of the latter amount is held in various U.S. treasury bonds. According to Timothy Singh, Circle’s vice president of accounting, the fair value of assets in the USDC reserve is the overall balance of US dollar-denominated assets, which includes a mix of cash and treasury bonds.
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💰 McDonald Is Still ‘100%’ Open To Elon Musk’s Offer To Accept Dogecoin
Elon Musk, the CEO of Tesla and a backer of Dogecoin, said that as long as McDonald’s accepts Dogecoin as payment, he is still open to the notion of enjoying a happy meal live on television. McDonald’s urged Tesla to adopt “Grimacecoin,” a fictitious cryptocurrency.
Everything began when fast food goliath McD’s posed the question, “What did I miss?” on Twitter. Oh, hi, lol,” the Tesla CEO said in response. Then, when questioned if his original offer to McDonald’s regarding accepting Dogecoin was still open, Musk responded with a “100” emoji, according to “DogeDesigner” of UX/UI and graphic design at Dogecoin. On Twitter, the message has received a number of replies, some of which express anticipation that the fast food restaurant may contemplate taking Dogecoin.
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🖼 FTX seeks permission to subpoena Sam Bankman-Fried, family and insiders
FTX bankruptcy lawyers are seeking permission to subpoena former CEO Sam Bankman-Fried, his family and top lieutenants at the collapsed crypto exchange, according to new court documents. Lawyers for the FTX debtors and the creditors committee in the bankruptcy case want the power.
The filing names Bankman-Fried's parents, Joseph Bankman and Barbara Fried, and his brother, Gabriel Bankman-Fried, saying the trio acted as his advisers. Lawyers are also targeting FTX co-founders Gary Wang and Nishad Singh, former Alameda Research CEO Caroline Ellison and Constance Wang, the former chief operating officer of FTX Trading Ltd. and co-CEO of FTX Digital Markets Ltd. Lawyers are seeking information and documents regarding FTX’s assets and business operations and the personal assets of FTX insiders, among other things.
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⚡️ Genesis Subsidiary Seeks $20.9 Million In Damages From Bitcoin.com Founder Roger Ver
GGC International Limited, a wholly-owned subsidiary of the bankrupt Genesis Global Capital, filed a lawsuit with the court that Roger Ver, an early investor in Bitcoin and founder of Bitcoin.com, failed to settle cryptocurrency options transactions.
The charges are contained in documents filed on January 23 in New York State Supreme Court in Manhattan. According to the filing, GGC is seeking damages from the defendants for failing to settle cryptocurrency options transactions expiring on December 30, 2022, in an amount to be determined at trial, but not less than $20,869,788 million. According to the Genesis website, GGC International Limited is a British Virgin Islands company wholly owned by Genesis Global Capital, engaged in spot trading activities.
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🪙 Bitcoin Miner Argo Blockchain Resumes Trading on NASDAQ
Argo Blockchain’s stock, ARBK, has resumed trading on Nasdaq, the company announced in a Securities and Exchange Commission filing Monday morning. Nasdaq first warned Argo it would have to suspend trading because its stock had not maintained a closing price.
Argo Blockchain declined to comment beyond what was included in the filing. The company's shares began trading at $15 on Nasdaq in September 2021 after Argo raised $112 million in an initial public offering. "The company no longer believes that this subscription will be consummated under the previously announced terms," the company said in a press release. "Argo is continuing to explore other financing opportunities.". By October, its share price had plunged by 40% and it called off a plan to raise $27 million.
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🪙 Genesis Creditors Now Involve 2 Decentraland Founders Ordano And Meilich
Three of the CEOs and creators of the virtual reality platform Decentraland are among the 50 largest Genesis creditors, the cryptocurrency lender that on Thursday filed for bankruptcy. has designated Decentraland CFO Santiago Esponda as a point of contact.
Santiago Esponda, the CFO of Decentraland, attracted notice because his Decentraland email address appeared in court documents as the point of contact for Heliva International, a Panama-based business that Genesis owes $55 million. Big Time Studios, a gaming firm, is due $20 million. Ari Meilich, another co-founder of Decentraland, is in charge of it. He launched Big Time in 2020, yet he is still an advisor to Decentraland. Meilich opted not to respond.
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📉 ConsenSys Reduces Staff By 11% As Its Chief Economist Exposes The Adoption Formula
ConsenSys, the organization that owns MetaMask, is laying off 11% of its staff, blaming previous collapses for the “uncertain market conditions” that led to this decision. layoffs’ official announcement that the industry was still far from widespread acceptance globally.
ConsenSys CEO Joseph Lubin spoke about the ecosystem’s “wide pall” that “poorly behaved” actors in centralized finance (CeFi) have cast in a blog post published on January 18 for the blockchain company. The move, according to Lubin, would affect 96 people and is a part of attempts to concentrate resources on the company’s core industries.the chief crypto economics officer of ConsenSys, told a few days before the layoffs’ official announcement that the industry was still far from widespread acceptance globally.
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🟠 Binance Mirror: OTC settlement solution For Over 60% Of Binance Custody Assets
Binance Custody, a certified and compliant institutional digital asset custodian, announced the formal launch of Binance Mirror, an OTC settlement solution for users’ assets, on January 16. Binance Exchange ecosystem without the need to provide collateral directly on exchanges, on January 16.
Institutions can use Binance Mirror to lock up a specific amount of accessible asset balances in their Qualified Wallet, Binance Custody‘s cold storage solution, and mirror their balances 1:1 to their Binance Exchange accounts. Their funds are maintained safely in segregated cold wallets ready for settlement at any time as long as their mirror positions remain open on the Binance exchange. It’s worth noting that assets in Binance Mirror make up more than 60% of all assets in Binance Custody.
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🇺🇸 U.S. Trustee Disagrees With FTX’s Selected Lawyers
The U.S. Trustee has objected to FTX engaging the New York legal firm Sullivan & Cromwell on the grounds that there might be conflicts of interest arising from the firm’s prior work. FTX makes no mention of the kinds of services S&C had previously rendered to the exchange.
Due to S&C’s prior associations with the defunct cryptocurrency exchange, potential conflicts of interest were raised in the filing by U.S. Trustee Andrew Vara, dated January 13. The filing expresses fear that the company would trample on future work by an independent examiner and is similar to those made by a bipartisan group of U.S. Senators and Sam Bankman-Fried, the creator of the cryptocurrency exchange. Vara pointed out that FTX’s General Counsel Ryne Miller spent eight years as an employee of S&C.
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🟠 The Binance Wallet Contains 90% Of WazirX User Assets
WazirX, an Indian cryptocurrency exchange, has issued its Proof-of-Reverse report, which includes the very shocking information that 90% of customer assets are kept in Binance wallets. Binance now holds nearly 19% of WazirX customer assets as SHIB, along with 9.37% ETH and 8.28% BTC.
The exchange has a total cash worth of $285 million, according to CoinGabbar, a crypto asset tracking platform and WazirX PoR publisher. About 92% of total, or $259.07 million, is held in the Binance wallet, with the remaining $26.45 million held in other exchanges. This statement is significant because, in August 2022, co-founder Nischal Shetty and CEO Changpeng Zhao engaged in a public Twitter spat over who controls WazirX. In particular, WazirX was bought by Binance in 2019
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🇨🇦 Crypto.com Will Remove USDT From Its Canadian Listing
Crypto.com announced the delisting of USDT —the most important stablecoin in the crypto ecosystem— in Canada to comply with the country’s regulations. The delisting of USDT in Canada was viewed by many users as a preview of what might occur internationally.
Several users on Reddit and Twitter reported that Crypto.com sent an email informing Canadian users of the decision. Users will have until January 31 to withdraw or swap USDT for any other money, according to the statement. All USDT balances will automatically convert to Circle’s USDC stablecoin if this is not done. It has been reported by Reddit user zoomercoomer9000 that Canadian regulators issued a statement in late December prohibiting cryptocurrency exchanges.
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📉 Airtm Winds Down Cryptocurrency Trading, Exchanges All Funds to Native Stablecoin
Airtm, a Latam popular cryptocurrency exchange and wallet, has announced it is winding down cryptocurrency trading and custody in its platform. The company stated that starting Jan. 4, 2023, all cryptocurrency deposits and withdrawals would be paused.
Airtm, a popular exchange used by freelancers in Latam, has announced it is winding down cryptocurrency trading and custody services. The company, which has more than 2 million customers in the region, disclosed in a message on its platform that they were retiring cryptocurrency-based services in its wallet, leaving customers unable to deposit or withdraw their cryptocurrency funds out of the exchange. Some users reported having seen the exchange operations in their accounts.
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