Mike Novogratz, the CEO of Galaxy Digital, says 2023 is the time to focus on survival in the crypto space. He also touches on Coinbase, which just announced it is laying off nearly 1,000 employees due to the crypto bear market. “Crypto is not going away,” he says. News Sorce
Investor interest in projects with liquid staking is likely being fueled by Ethereum’s impending Shanghai upgrade, which will allow users to unstake their ETH. Liquid staking tokens are rallying as the withdrawal date for unstaking ETH approaches. Lido Finance (LDO) and Rocket Pool (RPL) have already posted significant gains over the past 24 hours. Liquid staking projects are likely fueling investors’ interest ahead of the upcoming Shanghai upgrade. News Sorce
Justice Department said it had seized 55,273,469 shares of Robinhood. Also taken control of more than $20 million in U.S. currency from ED&F Man Capital Markets. FTX co-founder Gary Wang and former Alameda Research CEO Caroline Ellison pleaded guilty to related charges. News Sorce
The Bitcoin price has managed to reclaim the $17,000 level despite the uncertainty surrounding Barry Silbert’s crypto empire. Bitcoin is up more than 4% from its 2023 low of $16,496 that was recorded on Jan. 1. The recent price increase comes amid the deepening cryptocurrency crisis. News Sorce
DeFi investors should buckle up for another big year of exploits and attacks. Hackers have become more sophisticated, and DeFi projects don’t go through proper security checks, executives say. $1.4 billion was stolen across six DeFi exploits in 2022. Crypto auditing firm HashEx founder and CEO, Dmitry Mishunin, said “hackers have gotten smarter, gained more experience, and learned how to look for bugs.” Mishunin’s added that the amount of value in some DeFi projects made the industry “very attractive” to malicious actors. News Sorce
According to reports, the Ferrari racing business has terminated multi-year partnership agreements with Qualcomm and the Velas Blockchain. Prior to the 2023 Formula One season, the Italian team is predicted to lose a total of $55 million as a result of the partnership’s demise. Through NFTs and other joint projects, the Ferrari-Velas cooperation attempted to boost fan involvement. However, a source close to both sides claims that the Ferrari team disregarded the provisions allowing Velas to produce NFT photos. News Sorce
Reportedly, the current administration of FTX is attempting to recoup millions of dollars in donations made by the cryptocurrency exchange and its former CEO Sam Bankman-Fried. The gifts, on the other hand, come from a variety of sources and agreements, making it difficult to sum them up. Some of the funds have also already been spent. Over 110 nonprofit organizations in the U.S., India, China, and Brazil were reportedly the recipients of more than $160 million from FTX’s charity arm, Future Fund. SBF is accused by federal authorities of using client deposits to finance his trading business, give to political causes, and pay for personal costs. All philanthropic payments, according to an SBF representative, were made from trading earnings, not from the company’s general fund. News Sorce
The security platform Immunefi has recently announced in a report that during 2022, a total of 3.9 billion dollars’ worth of capital was stolen from the digital currency industry; 95.6% of this amount was related to hacking activities, and the remaining 4.4% was among various types of fraud. Common is divided in this space. Immunefi has said that the decentralized finance sector, or DeFi, hosted 80.5% of these thefts, and centralized platforms accounted for 19.5% of this amount. News Sorce
The Department of Justice and the US Securities and Exchange Commission are investigating the Digital Currency Group’s activities. According to Bloomberg, officials of the US Department of Justice in the Eastern District of New York, as well as the US Securities and Exchange Commission, are investigating transactions between Digital Currency Group and its subsidiary, Genesis. It is said that Genesis and Digital Currency Group have not been accused of any illegal activities. It should be mentioned that the possibility of bankruptcy for Genesis was also raised by its managers. News Sorce
Nobuaki Kobayashi, the custodian responsible for refunding the funds of customers of the bankrupt Mt. Gox exchange, announced that the deadline for the registration of creditors of this exchange to refund their funds has been changed from January 10 to March 10. According to Kobayashi, those who do not register to receive their funds by this date, may no longer be able to receive their request or may have to submit documents to the head office of this exchange. News Sorce
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