Market
Bankruptcy
Ex-FTX chief regulatory officer alleges misconduct by S&C, Ryne Miller
Daniel Friedberg alleged that S&C breached ethical obligations and made false statements while Miller channeled business to S&C.
Bankruptcy
Genesis owes over $3.5B to top 50 creditors, owes $765.9M to Gemini Earn users
Genesis' bankruptcy filing shows a much lower debt liability to Gemini Earn users than the $900M debt Cameron Winklevoss had claimed.
Bankruptcy
Genesis Global caves to liquidity issues, files for Chapter 11 bankruptcy
Genesis' custody, derivatives, broker-dealer, and spot trading business are not part of the bankruptcy proceedings.
Adoption
Number of ETH holders grew 3.6x to 87M in 2022
Ethereum holders account for 20% of the 425 million global crypto investors, while BTC holders account for 52%.
Tokenization
OKX reports $7.5B Proof-of-Reserves in BTC, ETH, USDT
OKX reserves are 100% clean, meaning that the exchange reserves do not contain the exchange's native token, according to CryptoQuant data.
Crime
S. Korea indicts 20 people for illegal $170M crypto profiteering
The accused individuals sent around $3.2B out of S. Korea under false pretenses, violating foreign exchange laws, to buy crypto abroad.
Banking
Ex-India RBI chief says crypto price collapse will unlock ‘true value’ of crypto
Raghuram Rajan's views stand at odds with that of the current RBI governor, who is pushing for a blanket ban on crypto.
Stablecoins
National Australia Bank to launch AUD-backed stablecoin
The stablecoin, AUDN, will focus on reducing settlement time, bringing down cost of international transfers, and carbon credits.
Crime
Hong Kong exchange Bitzlato seized; founder arrested
Bitzlato was the second-largest crypto transactions counterparty for users of Hydra, the darknet marketplace shut down last year.
Legal
SEC crypto enforcement actions up 50% in 2022 – nearly half against ICOs
Out of 127 enforcements actions launched since 2013, 73% alleged unregistered securities offering, 59% alleged fraud and 44% alleged both.
Bankruptcy
SBF said it was ‘okay’ that Alameda was borrowing FTX user funds
Before FTX's collapse, SBF was hoping that an increase in crypto prices would solve the problem of Alameda losing FTX user funds.
Deals
Vauld has until Feb. 28 to figure out a revival plan
In early January, Vauld turned down Nexo's final acquisition offer. Vauld is now weighing bids from two fund managers.