Gaming
Bear Market
Bitcoin miner Hut 8 registers sequential drop in Bitcoin production
Hut 8 sold power back to the provider because of high energy prices, resulting in a fall in production.
Bear Market
Highest number of crypto layoffs seen in 2022
Crypto companies have implemented layoffs to cut costs and reduce their growth plans following a severe market decline.
Legal
New York Attorney General files lawsuit against Celsius’ Alex Mashinsky for defrauding investors
According to the lawsuit, Mashinsky must pay damages, restitution, and disgorgement, as well as be barred from doing business in New York.
Bear Market
Fed plans to keep raising interest rates in 2023 but at a slower pace
Policymakers were concerned about controlling the rate of price rises and cautioned against prematurely loosening monetary policy at the FOMC meeting.
Adoption
Indonesia to set up cryptocurrency exchange to reform crypto regulation
In addition to reforming crypto regulation, Indonesia is also introducing a Central Bank Digital Currency (CBDC), alongside a national cryptocurrency exchange.
Investments
Crypto VC funding down by 82.5% YOY, lowest in 2 years
Compared to December 2021(154 projects), there were 50 crypto VC projects funded in December 2022, a decrease of 68% over one year.
Exchanges
SBF free on bail for 10 months until trial in October as he pleads not guilty
The US district court granted SBF's plea, giving him more time to assess the evidence against him.
Bear Market
Bitcoin miner revenue down 37.5% in 2022 YoY
Along with poor market conditions, miners also suffered from high electricity costs and record mining difficulty.
Taxes
Italians to pay 26% crypto gains tax from 2023
Crypto trading gains are subject to the 26% Italian tax rate once they exceed 2,000 euros per tax period.
Bankruptcy
Bitcoin Mining farm Bitfarms co-founder and CEO Emiliano Grodzki resigns
The CEO position has been taken over by Bitfarms President and Chief Operating Officer, Geoffrey Morphy
Adoption
BMW to bring blockchain loyalty program through Coinweb and BNB chain
BMW onboarded Coinweb in order to adopt a decentralized and efficient architecture and BNB chain to help settle its every transaction.
Bear Market
Research: The Bearish case for Bitcoin as 2022 ends
Bitcoin's price and market cap have plummeted aggressively over the past year and certain on-chain metrics remain concerning.