- Silvergate Bank forced to cover $8bn worth of crypto-related withdrawals during FTX & Genesis debacle. The US bank was forced to sell $5.2 billion worth of assets for cash and booked a loss of $718m on those sales.
- Bitcoin core developer Luke Dashjr has been hacked and lost more than 200 bitcoins (approximately $3.5 million).
- Wyre imposes up to a 90% withdrawal limit for all users and will be terminating services in January after a failed acquisition with Bolt last September.
- Gemini gave until January 8th to Digital Currency Group CEO to find a payment plan for the $900 million of Gemini Staking Program stucked with Genesis. Promissory note is not an answer said Cameron Winklevoss from pens open letter to Barry Silbert about Gemini’s blocked funds.
- Withdrawals and layoffs at Huobi raised concern. Huobi confirmed it plans to lay off up to 20% of its workforce after rumors of insolvency. Approximately $94.2 million has flowed out of the exchange within the past week.
- Hong Kong lawmaker asks Beijing to permit Digital Dollar and conversion to Stablecoin.
- U.S. judge maintained the detention for Mango Markets attacker Avraham Eisenberg, the hacker who drained $110 million from decentralized exchange Mango Markets was arrested in Puerto Rico 2 weeks ago and charged with market manipulation offenses.
- New York AG accuses Celsius ex-CEO Alex Mashinsky of defrauding hundreds of thousands of crypto investors in $20 billion collapse.
- US judge approved Twitter subpoena for Three Arrows Capital Co-Founder Davies. Lack of cooperation has spurred unusual legal maneuver.
- Former FTX CEO Sam Bankman-Fried pleaded not guilty to federal charges in New York last week, while his 2 co-founders Caroline Ellison (Alameda Research) and Garry Wang, (ex FTX CTO) already entered guilty pleas and are cooperating against him.
To watch this week :
- U.S. CPI for December is due in the coming week
- China will also be releasing CPI Jan 11, 2023
- Gemini deadline January the 8th was not met, watch Gemeni / Digital Currency Group
Podcasts / Reading
The year of Zero Knowledge Proofs (ZK Proofs) might be 2023 hence why it's very important to understand how it could be a major shift for privacy that will enhance businesses with trustless proofs.