Analysis
Investments
Cathie Wood, ARK Invest still anticipate $1.5M Bitcoin after US banking crisis
Wood believes Bitcoin will continue to establish itself as an "insurance policy" against inflation and that "everyone will want it at the end of the day."
Regulation
Financial Stability Board releases framework for global crypto-asset regulation
The regulator believes that the deepening connection between traditional finance and cryptocurrencies could increase risk levels in the broader financial market.
Exchanges
Binance has quietly laid off 1,000 or more employees in recent weeks; may slash workforce by up to 30%: WSJ
The exchange had roughly 8,000 employees around the globe before the layoffs began a few weeks ago.
Legal
Alex Mashinsky out on $40M bail; ‘vehemently’ denies fraud charges
Mashinsky's lawyer Jonathan Ohring said his client "vehemently" denies all charges and intends to "vigorously" fight them in court.
Exchanges
Binance appoints new general counsel amid intensifying legal troubles
Eleanor Hughes takes on the role a week after it was vacated by Han Ng amid increased regulatory scrutiny.
Legal
Judge rules Ripple’s XRP programmatic sales ‘not securities’; XRP up 28%
Judge Analisa Torres has ruled that Ripple's Programmatic sales and XRP distributions did not constitute securities sales, though institutional sales could meet that definition.
Culture
UN greenlights Dynamic Coalition on Blockchain Assurance and Standardization to research emergent tech
The coalition will work on each of the domains throughout the year and publish the results of the various pilot programs to promote the use of blockchain technology.
Crime
Crypto crime is down 65% in 2023, though ransomware is still prevalent
Illicit inflows are down across every category of crypto-crime, except ransomware, which is already trailing numbers seen during the 2021 bull run.
CBDCs
Brazilian CBDC pilot source code includes methods to freeze, drain wallets
Brazil's CBDC pilot includes functions to freeze and unfreeze wallets, as well as functions to move, mint, and burn funds.
Legal
Former FTX exec Ryan Salame under investigation for suspected campaign finance violations: WSJ
The former FTX exec is facing scrutiny for possible campaign finance violations, allegations unrelated to the exchanges dramatic collapse.
Hacks
Centralized exchanges lost nearly $11B to hackers over the past decade
Exchanges have suffered 118 hacks during the time period. The two largest hacks took place in 2021 and account for almost $5 billion of the total.
Legal
Gemini sues Digital Currency Group and CEO Barry Silbert over Genesis Capital insolvency
Cameron Winklevoss alleges that DCG CEO Barry Silbert was the "architect and mastermind" of the "fraud" that he alleges was committed by DCG and Genesis Capital.