Analysis
Stablecoins
Arthur Hayes believes big banks will make stablecoin issuers like Tether obsolete
Arthur Hayes predicted that once banks recognize the profit potential in stablecoins, they will quickly move to dominate the market and push out incumbents like Tether.
Crypto
Bitwise reveals $200M seed fund for spot Bitcoin ETF in updated S-1 filing
Bitwise's seed fund is 20x larger than the $10 million seed investment recently announced by BlackRock for its own spot Bitcoin ETF.
Legal
Judge rejects CZ’s latest request to travel to the UAE
U.S. courts have rejected CZ's latest motion seeking permission to travel to the UAE before his sentencing next year.
Community
PancakeSwap community passes proposal to reduce token supply by 300M
The proposal, which closed on Dec. 29, garnered an overwhelming 97.88% approval rate from the voting community.
Adoption
Bitfinex predicts crypto market cap will double to over $3T as it continues global expansion efforts
Bitfinex forecasts crypto market doubling driven by global adoption and optimistic Bitcoin cycle indicators.
Exchanges
Indian watchdog issues issues compliance notices to 9 crypto exchanges, seeks to block URLs
The entities include major players like Binance, Kucoin, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex and Huobi.
Regulation
Republican lawmakers call for the removal of SEC’s Gary Gensler over bias and damage to the digital asset industry
Republican legislators push for SEC overhaul and Gary Gensler's dismissal amid criticisms of an overzealous regulatory approach.
Stablecoins
China initiates crackdown on use of stablecoins in illegal forex trading
China ups enforcement on stablecoin misuse for illicit forex conversion, with recent prosecutions underlining zero tolerance for violations.
Technology
Vitalik Buterin outlines new Ethereum PoS strategy for post-Shanghai era
Buterin outlined a long-term vision for Ethereum's proof-of-stake system that would dramatically reduce the required number of validator signatures.
Regulation
South Korean public officials will disclose crypto holdings in new registry
The Public Ethics Management Information System will centralize asset disclosures of public officials in South Korea, including crypto.
DeFi
KyberSwap cuts staff by 50% after $54M exploit
KyberSwap has responded to a major security breach with deep cuts, halting KyberAI development and liquidity initiatives.
Hacks
Cryptocurrency market sees over 50% decline in hacks over 2023
The value of stolen crypto plunges amidst heightened industry security and law enforcement efforts.