TOP STORIES OF THE WEEK
Top crypto exchange Binance fined $4.3b as CEO pleads guilty to U.S. money laundering violations
The world's largest cryptocurrency exchange
Binance reached a settlement with the US Department of Justice and admitted to anti-money laundering, unlicensed money transmitting, and sanctions violations. Binance also reached agreements with the CFTC, FinCEN, and OFAC. Under the terms of the agreement, Binance will pay $4.3b in penalties and forfeiture, completely exit the US, and retain an independent compliance monitor for three years. Further, CZ, who also pled guilty to violating the Bank Secrecy Act and will be sentenced in February, stepped down from his role as CEO and is prohibited from having any involvement in Binance for three years. Richard Teng, Binance’s regional markets head and former Abu Dhabi regulator, will now lead the exchange.
Binance reached a settlement with the US Department of Justice and admitted to anti-money laundering, unlicensed money transmitting, and sanctions violations. Binance also reached agreements with the CFTC, FinCEN, and OFAC. Under the terms of the agreement, Binance will pay $4.3b in penalties and forfeiture, completely exit the US, and retain an independent compliance monitor for three years. Further, CZ, who also pled guilty to violating the Bank Secrecy Act and will be sentenced in February, stepped down from his role as CEO and is prohibited from having any involvement in Binance for three years. Richard Teng, Binance’s regional markets head and former Abu Dhabi regulator, will now lead the exchange.
Mt. Gox Creditors to Receive Bitcoin Payments Starting 2023 Based on Rehabilitation Plan
A decade after the Mt. Gox crypto hack, creditors have been informed of a repayment plan beginning in 2023. In an email sent to rehabilitation creditors on Wednesday, the trustee overseeing the Mt. Gox bankruptcy estate announced plans to commence repayments in 2023, with the process extending into 2024. The rehabilitation plan involves repaying creditors approximately 141,686 BTC ($5.2b at current prices) and 143,000 Bitcoin Cash (BCH) ($31m) from the Mt. Gox estate and will start with cash repayments.
Layer-2 network Blast becomes third-largest holder of staked Ethereum amid pyramid scheme allegations
Blast, a newly introduced Ethereum layer-2 network promising “native yield” on ETH and stablecoins, has already amassed over $380m in staked ether, making it the third-largest holder just three days post-launch. However, the rapid growth of Blast has triggered strong criticism within the crypto community due to its pyramid-like Blast points system, which rewards early users based on the number of users they refer.
SEC recently met with Grayscale, BlackRock over spot bitcoin ETF listings, memos show
Grayscale Investments recently met with the Securities and Exchange Commission as it continues to seek approval for its application to convert its Grayscale Bitcoin Trust into a spot bitcoin exchange-traded fund. The asset manager met with officials from the SEC's division of trading and markets on Monday to discuss potential listing matters concerning the shares of the product.
SEC sues Kraken over unregistered exchange operations, commingling of funds
The SEC filed charges against the cryptocurrency exchange Kraken, accusing it of operating an unregistered securities exchange, broker, dealer, and clearing agency. Furthermore, the SEC said that Kraken commingled customer and corporate funds, including by paying operational costs from accounts that held user funds. Kraken denied the allegations and vowed to fight the lawsuit.
Argentina elects pro-Bitcoin president Javier Milei
A runoff election in Argentina on Sunday resulted in a win for Javier Milei, a libertarian on the political right who wants to dollarize the country’s economy and has expressed support for Bitcoin.
Sam Altman fired by OpenAI, then reportedly urged to return in ongoing shocker
Sam Altman was fired as OpenAI chief executive, then reinstated after investors and employees threatened action.
BITCOIN
Bitcoin options open interest reaches all-time high of $15 billion on Deribit
Bitcoin Supply Inactive for a Year Hits Record High of 70%
Bitcoin Hash Rate Taps All-Time High Ahead of Next Year’s Halving
Bitcoiner Pays $3.1 Million Transaction Fee; Analysts Debate Possible Factors
ETHEREUM
'We Are Prepared to Go to the Mat:' ENS Founder on Patent Dispute With Unstoppable
Vitalik Buterin Touts Plasma Technology; OMG Token Briefly Skyrockets 16%
ALTCOINS
Uniswap DAO to weigh giving ‘underrepresented’ delegates more voting power
DeGods DUST Token Rallies on Weird, Totally Unsubstantiated GTA Rumors
Trader Cashes In $12M as Blur NFT Platform Airdrops 300M Tokens to Users
Avalanche Transactions Skyrocket 2,000% On ASC-20 Hype
Aragon Tokenholders Vote To Sue Aragon Association
PancakeSwap proposes veCAKE launch to boost governance influence and liquidity
Telegram trading bot tallies daily volume topping $16M
Tron’s JustLend Surpasses Aave As Largest Web3 Lending Market
Vega Protocol Introduces Perpetual Futures
Fantom dodges $170m vulnerability, pays $1.7m reward to security researcher
Tomagotchi-Like Fren Pet is Crushing it on Coinbase's Base Network
Pyth Airdrop Puts $77 Million in the Wallets of Crypto Users
Dydx V3 hit by ‘targeted attack,’ linked to YFI price manipulation
AI tokens surge 9% amid OpenAI leadership saga
THORchain Volumes Surge On Success Of ‘Streaming Swaps’
Proving you’re human: Internet Computer app OpenChat to test facial recognition
Yearn.finance token tumbles 43%, community speculates on exit scam
Polkadot is About to "Fundamentally Change," Said Web3 Foundation's New CEO
Sam Altman remains at Worldcoin’s developer while he may return to OpenAI
STABLECOINS
CrvUSD Proposal Aims to Increase Rates and Restore $1 Peg
Circle Launches Bridging Standard for Stablecoin Deployment on New Networks
Tether’s $1 Billion Deposit With Britannia Financial Subsidary At Center of Legal Battle in London’s High Court
Tether Confiscates 225M USDT Involved in Pig Butchering Romance Scam
‘Primitive’ stablecoin lacks mechanisms that maintain fiat stability: BIS report
‘Raise the stakes’: DeFi experts try to boost Aave stablecoin GHO to $1
CRYPTO ECOSYSTEM
Genesis attempts to recover $689M from Gemini in new lawsuit
CoinFLEX creditors dissatisfied with restructuring to OPNX: Report
Alchemy Pay Announces U.S. Expansion, Iowa Licensing
CoinGecko acquires NFT data startup Zash
Security firm dWallet Labs flags validator vulnerability that could affect $1B in crypto
FTX-Linked Anthropic Declines OpenAI’s Merger and Leadership Offer
US Trustee challenges $5 million claims by parties in Celsius bankruptcy case
Ethereum Layer 2 Kinto migrates to the Arbitrum ecosystem
SingularityNET Joins With Dfinity Foundation for AI Models That Run on Smart Contracts
Celsius Revamp Plan Hits Speed Bump With SEC: Source
STP Launches AWNS Web3 Identity Solution Using NFT-Owned Wallet
Blockchain Association files support in suit to lift Tornado Cash sanctions
Atomic Wallet Parent Company Seeks Dismissal of $100 Million Lawsuit, Citing Jurisdictional Challenge
GCEX Cements Dubai Presence: Gains VARA’s Digital Asset License
EigenLayer to enable staking with operators of data availability layer in H1 2024
Evmos plans to use native Cosmos assets as ERC-20 tokens via EVM Extension software
FTX creditor claims increase to as high as 65 cents on the dollar
Wormhole to Become Separate Entity From Jump Trading
Neon EVM Launches Feature to Pay Transaction Fees With Different Tokens on Testnet
Taiwanese trading firm Kronos Research hacked for estimated $25 million: ZachXBT
NFTS / GAMING / METAVERSE
NFT stamp collecting is a dud
Someone Got $8.4 Million in Blur NFT Marketplace's Latest Airdrop
Ubisoft's 'Champions Tactics' NFT Game Is Coming to Animoca's 'Mocaverse'
Bitcoin NFT market thriving as it exceeds Ethereum sales by millions
A Bunch of Games Are Migrating to Aptos via READYgg
'Oops, You Stepped Into the Future': Nike Drops Sneakers With NFTs
Solana's Top NFT Project Just Pumped 122% in a Week
Web3 Watch: Nouns DAO-funded movie releases second installment
MINING
Bitcoin and gold show similar trends as miner shares fall behind spot prices
Bitcoin's Anti-Censorship Ethos Surfaces After Mining Pool F2Pool Acknowledges 'Filter'
Satellite Images Show Bhutan’s Secret State-Owned Bitcoin Mining Facilities
Crypto Miner Phoenix Group’s IPO Sales 33X Oversubscribed
Celsius to Transition to Mining-Only NewCo After SEC Feedback in Updated Bankruptcy Plan
Surge in Bitcoin hash rate signals strong miner commitment before 2024 halving
Luxor aims to ease crypto miner logistics as halving looms
Bitcoin network hits record-breaking 551 EH/s hash rate as sixth straight difficulty increase looms
Why Marathon sees ‘huge’ potential for clean Bitcoin mining
EXCHANGES
HTX to Resume Limited Deposit Services Today and Launch a Site-Wide Airdrop Event
Dutch Crypto Exchange Bitvavo Gains Regulatory Nod in France
Coinbase Seeks US Court’s Assistance to Compel SEC on Crypto Rule-Making
Binance Settlements Could End Death-Spiral Fears – And Might Be Good News
Bitstamp witness massive Bitcoin withdrawal totaling $600 million
US DOJ files motion to block CZ’s return to UAE over flight risk concerns
Gate.io Implements Zero-Knowledge Tech in New Proof of Reserves Method
Binance Processes Nearly $1B in Net Outflows as Changpeng ‘CZ’ Zhao Resigns
Kraken Exchange CEO Jesse Powell Slams SEC for ‘Assault on America’
JPMorgan says Binance settlement ‘positive’ as it eliminates potential systemic risk from hypothetical collapse
Justin Sun-linked Heco bridge and HTX exchange targeted in $100+ million crypto attack
Binance names Richard Teng as new CEO as founder CZ admits mistakes
Binance charges prove ‘following the rules’ was the right decision — Coinbase CEO
Trial of Bithumb Operator’s CEO Begins
Binance Founder Changpeng 'CZ' Zhao Released on $175M Bond, Will Be Sentenced in February
Another Overseas Crypto Exchange Wants to Break into South Korean Market
Binance loses institutional exec as exits persist amid investigations
Crypto Exchange Bittrex Global Shuts Down Following Battle With SEC
Kraken says products remain unaffected amid SEC’s new ‘disastrous’ lawsuit
Osaka Digital Exchange to Launch Trading of Japan’s First Digital Securities on December 25
South Korean crypto trading volumes soar with altcoins taking center stage
Bitget Releases Position Grids to Reshape Digital Asset Trading
Former Bithumb chair faces 8-year imprisonment
Poloniex confirms hackers identity, offers $10M white hat reward to return stolen funds
Crypto hiring: Binance parts ways with multiple anti-crime staffers
CAPITAL RAISES
Game Studio Behind Matr1x Fire Raises $10 Million for NFT Mobile Shooter
Paradigm leads $18 million Series A raise for web3 infrastructure startup Privy
De.Fi 2.0: Revolutionizing SocialFi & Antivirus, Secures $5 Million in Funding
Crypto Gaming Protocol Saga Raises $5 Million Ahead of Mainnet Launch, Community Airdrop
Panoptic raises $7 million to build perpetual options platform for DeFi
Bitcoin Ordinals Project Taproot Wizards Raises $7.5 Million in Seed Funding
Crypto funding: 3 crypto companies secure $90M+ raises
INVESTMENT MANAGEMENT
'No Reason' for SEC to Deny Bitcoin ETF, Says Hester Peirce
GBTC’s discount to NAV drops to sub-10% territory for the first time in two years
SEC Receives Grayscale's Amended Filing for Spot Bitcoin ETF
JPMorgan says GBTC could see outflows of $2.7 billion upon ETF conversion
Coinbase Becomes Custodian for WisdomTree’s Bitcoin ETF, Aiming for SEC Approval
Bitcoin ETF saga reaches ‘pattern break’ as amendments pile up
SEC rumored to be instructing spot Bitcoin ETF applicants to incorporate cash creates
Fidelity joins BlackRock, Ark Invest in Ether ETF race
Global X’s Bitcoin ETF Decision Delayed by SEC, New Deadline Set – Here’s What You Need to Know
TRADFI / TECH
Game Boy Crypto Wallet Paused Due to ‘Market Conditions’ as Team Pivots to Stablecoins
BBVA Switzerland selects Ripple-owned Metaco to power digital asset operations
Indian AI Video Startup Rephrase.ai Announces Acquisition by Adobe
Secret behind OpenAI drama may be a step toward AGI with mathematical breakthrough – Reuters
Crypto-Friendly Silvergate Bank Has Fully Repaid All Deposit Liabilities, Now Holds Less Than $10,000
Vienna-Based Raiffeisen Bank Expands Services to Include Crypto Trading
Sam Altman Reinstated as OpenAI CEO
Crypto Banking Firm BCB Group CEO Quits 5 Months After His Deputy
Top Global Banks Reveal $10.27 Billion in Crypto, XRP Among Top Investment
Mastercard combats crypto fraud with latest AI integration
China Asset Management Signs MoU with Hashkey Exchange to Promote Web3 in Hong Kong
Santander offers Bitcoin, ETH trading for Swiss account holders
JPMorgan Explores Fund Tokenization for Personalized Portfolio Management
Crypto Platform Strike and Checkout.com Partner to Bring Bitcoin Buying to 65+ Countries
CBDC
China Debuts Solar Power Industry Digital Yuan Smart Contracts
Digital Euro Isn't Pressing, but Work Should Continue: Spanish Central Bank Governor
Cambodian digital currency bakong amps up use case with Alipay agreement
Russian Lawmakers Urge Central Bank to Rethink Digital Ruble Plans
Digital Hong Kong Dollar Pilot Plan to Enter Second Phase Next Year
REGULATORY / COUNTRIES
UK investment funds get green light for tokenization
Hong Kong Investment Firm Victory Securities Obtains Retail Crypto Trading License
UK Finance Minister Proposes Sandbox Initiative for Digital Assets Legislation
Lugano Integrates Polygon Protocol into MyLugano Payment App for Crypto Transactions
Singapore Floats Stricter Rules to Discourage Crypto Retail Trading
Russian Bailiffs Will Get More Powers to Seize CBDC & Crypto
Australia’s tax agency won’t clarify its confusing, ‘aggressive’ crypto rules
Belgium seeks to reboot EU blockchain infrastructure project
Bitcoin in Bundestag: Germany's Bold Leap into Cryptocurrency Recognition
State of Jersey Police Warn Islanders of Crypto Fraud Following a Recent Scam
Canadian regulator seeks feedback on crypto asset exposure disclosure requirements
Global securities regulators push for worldwide digital asset oversight with 18 new policy recommendations
U.S. Crypto Lobby Spending Surpasses $20 Million in 2023, On Track to Beat 2022 Record
South Korea's National Pension Service Bets Big on Coinbase with $20M: Report
French Authorities Issue Warning on Alleged Crypto Deception
ENVIRONMENTAL, SOCIAL, GOVERNANCE
AI’s energy consumption concerns echo Bitcoin mining criticisms, says Heatbit founder
Op-ed: Cutting the environmental cost of cutting-edge technologies like AI and Bitcoin
SURVEYS, HACKS, MISC
Appeals court rejects Sam Bankman-Fried’s bid for release
KyberSwap hacker opens door for negotiations after $45 million exploit
Chinese Police Bust $140 Million Crypto Money Laundering Ring
SBF granted post-trial extension indicating potential appeal strategy or reduced sentencing
