Market
Taxes
South Korea defers 20% crypto tax implementation to 2025
Government officials tied their decision to postpone the crypto tax to the stagnant market condition and the lack of an investor protection system.
Crime
Finland earns $48M from sales of seized Bitcoin
The sold Bitcoins were connected to digital assets seized by the authorities for facilitating narcotics and doping substances transactions.
Investments
Tesla has sold 75% of its Bitcoin holdings, earning $936M
Tesla revealed that its Bitcoin trade brought $936 million to its balance sheet.
Investments
FTX in talks to raise funds amid spending spree to prevent contagion
FTX and its US division are reportedly seeking to raise new funds at the same valuation of January, 2022.
Regulation
Senator Emmer says SEC is ‘politicizing enforcement, baiting companies’
SEC's Director Gurbir Grewal admitted that the commission routinely operated outside of its jurisdiction.
Investments
Morgan Stanley is willing to buy El Salvador bonds despite poor performance
El Salvador’s $7.7 billion Eurobonds is performing poorly despite having better numbers than countries in a similar position.
Regulation
US Congressman questions SEC’s lack of action against ‘big fish’ exchanges if Ripple is a security
Sherman said the SEC should bring enforcement actions against major exchanges that facilitated Ripple (XRP) trading.
Enterprise
KPMG, HSBC report identifies crypto startups with unicorn potential in Asia
According to the report, the crypto space still has the potential to produce dominant unicorn companies.
Analysis
Indicators point to Bitcoin bottom formation but recovery unlikely so soon – Glassnode
Glassnode revealed that all on-chain metrics point to the sign of a price bottom formation except the length of time it takes for a genuine bottom to form.
Bear Market
SkyBridge Capital’s fund suspends withdrawals because of stocks, crypto decline
Legion Strategies halted withdrawals because of the sharp decline in the values of stock and cryptocurrencies held by the fund.
Bankruptcy
Three Arrows Capital unravels as creditor list emerges
A creditor committee has been set up and it comprises the biggest creditors like Digital Currency Group, Voyager and others.
Exchanges
Glassnode data shows Binance’s Bitcoin holdings surpass Coinbase
Coinbase in the last seven days had recorded over 10,000 outflows in its Bitcoin holdings while Binance recorded around 20,000 inflows.