Market
Exchanges
3AC co-founders launch marketplace to trade crypto claims
Open Exchange said there is "a $20 billion market of claimants" desperately searching for a marketplace to monetize their claims against bankrupt crypto firms.
Mining
Bitfarms pay off $21M debt with one-time cash payment of $7.75M
The loan repayment freed up over 6000 Bitcoin mining machines Bitfarm had used as collateral.
DeFi
Umami Finance token crashes by over 50% as CEO dumps holdings
Several members of the Umami team resigned in a move designed to push the project "back towards decentralization and a DAO structure," according to Discord messages seen by CryptoSlate.
Stablecoins
Tether reports $700M profit for Q4’22
Tether said it has an excess reserve of at least $960 million as of Dec. 31. Its total assets stood at $67.04 billion, while its liabilities were $66.08 billion.
Bankruptcy
Celsius creditors, US gov oppose bankrupt’s lender extension request due to high cash burn rate
Celsius creditors said the case must proceed toward a resolution as it has been around eight months since the firm paused withdrawals.
Staking
Cardano founder Charles Hoskinson calls Ethereum staking problematic
Hoskinson fears the US SEC might lump all staking protocols together "due to a fundamental misunderstanding about the actual facts of operation and design."
Wallets
Trust Wallet says user’s $4M hack was done via social engineering
Trust Wallet said the criminals had always insisted on physical meetings and posed as web3 project investors.
Analysis
Smaller exchanges see around $200M in Bitcoin withdrawn over past week
Blockchain analytical firm Santiment said Bitcoin's existing supply has been moving to self-custody since its value crossed $23,000.
Bankruptcy
FTX lawyers S&C file $7.5M invoice for November services
Over 150 Sullivan & Cromwell (S&C) employees spent 6,561 hours working on the FTX bankruptcy case.
Regulation
Dubai bars issuance of privacy coins, details other crypto regulations
Dubai's virtual assets watchdog said any crypto company looking to set up in the region must secure licensing before it can begin operation.
DeFi
Cardano ADA sees increased whale transactions, DeFi TVL doubles
Cardano DeFi ecosystem has doubled in the current year, rising to $108.63 million from $48.95 million on Jan. 1.
AI
ChatGPT ENS domain name sells for over $10k
AI crypto assets have flourished in light of the increased interest in ChatGPT and other AI-based technologies.