Danubefuture

Bullet points:
• The newly formed Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion will prioritize stablecoin regulation as its first priority.
• Rep. French Hill (R-Arkansas) said the subcommittee is also looking into a privacy statute to protect digital assets.
• The subcommittee, chaired by Rep. Hill, has a draft of a stablecoin regulation that they are using as a model for their approach to digital asset regulation.

The U.S. House of Representatives Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion has announced that stablecoin regulation will be its first priority. This is the first time the US government has taken such a stance on digital asset regulation.

Rep. French Hill (R-Arkansas) is the chairman of the subcommittee and he spoke to CoinDesk TV about the subcommittee’s plans. He said that the committee has already drafted a stablecoin regulation and that they plan to use it as a model for their approach to digital asset regulation as a whole.

He also said that the subcommittee is looking into a privacy statute to protect digital assets from abuse. This would be beneficial to both businesses and consumers, as it would ensure that digital assets are kept safe and secure.

The subcommittee is also seeking to clarify which agency, the SEC or the CFTC, will have explicit oversight of digital assets. Rep. Hill said that the subcommittee plans to sort through these issues to ensure that the digital asset industry is properly regulated.

The subcommittee’s focus on stablecoin regulation is a welcome move for the digital asset industry, as it is a sign that the U.S. government is taking the industry seriously. This could be beneficial to both consumers and businesses, as it would ensure that digital assets are secure and properly regulated.

The subcommittee’s focus on stablecoin regulation is also an indication that the U.S. government is open to the idea of digital asset regulation. This could lead to more clarity on digital asset regulation in the future and could potentially open the door for more digital asset businesses to enter the market.

Overall, the Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion is taking the digital asset industry seriously and is looking to ensure that digital assets are secure and properly regulated. This could be a major step forward for the digital asset industry in the United States and could lead to more clarity on digital asset regulation in the future.

• Timothy Stranex, co-founder and CTO of cryptocurrency exchange Luno, departed in December to pursue personal projects.
• Luno is headquartered in London and has offices in Singapore, Cape Town, Johannesburg, Lagos and Sydney.
• Simon Ince, former Vice President of Engineering, has taken over Stranex’s role as CTO.

Timothy Stranex, the co-founder and Chief Technology Officer (CTO) of cryptocurrency exchange Luno, recently departed the firm in December to pursue personal projects. Luno, whose parent company is Digital Currency Group (also the parent company of CoinDesk), has over 10 million customers worldwide. It is headquartered in London, with offices in Singapore, Cape Town, Johannesburg, Lagos and Sydney.

Stranex founded Luno with Carel van Wyk, Pieter Heyns and current CEO Marcus Swanepoel nearly 10 years ago. His departure from the firm has resulted in Simon Ince, former Vice President of Engineering, taking over his role as CTO.

The cryptocurrency industry has grown exponentially since the firm’s inception in 2013. The exchange, which was founded in South Africa and has expanded across the globe, has played a significant role in providing financial services to those who may not have access to traditional banking solutions.

As the cryptocurrency industry continues to evolve, the need for exchanges to provide a secure and user-friendly experience is paramount. In this regard, Luno has made significant strides in providing a comprehensive platform that is both secure and easy to use. Aside from their own wallet, the exchange also offers a variety of features such as analytics tools, order types, and support for multiple cryptocurrencies.

Given the current landscape of the cryptocurrency industry, Luno’s commitment to providing a secure and user-friendly experience is likely to continue. With Stranex’s departure and Ince’s appointment as CTO, the exchange is in a strong position to continue its success into the future.

Bulletpoints:
• Digital Currency Group’s (DCG) Genesis Global Trading, partner on a crypto lending product, has been in dispute with the Winklevoss twins‘ crypto exchange Gemini
• DCG is reportedly looking to sell some of its venture-capital portfolio, worth around $500 million, to pay off Genesis’ creditors who are owed over $3 billion
• Lumida CEO and co-founder Ram Ahluwalia weighs in on the escalating tensions between DCG and Gemini

Tension is mounting between Digital Currency Group’s (DCG) Genesis Global Trading and the Winklevoss twins’ crypto exchange Gemini over a crypto lending product pitched to smaller investors. According to a report by the Financial Times, citing sources, the parent company of Genesis and CoinDesk is looking to offload some of its venture-capital portfolio, worth around $500 million, to pay off Genesis’ creditors who are owed over $3 billion.

The Winklevoss twins’ crypto exchange Gemini has since escalated its dispute with DCG’s Genesis Global Trading by terminating a key aspect of their relationship. Lumida CEO and co-founder Ram Ahluwalia weighed in on the tensions between the two companies, stating that the dispute shows that the crypto industry is maturing and companies involved must take responsibility for their actions.

The crypto lending product pitched to smaller investors is a key part of the two companies’ relationship, and the termination of the agreement has caused a rift between them. This has led to a situation where DCG is now looking to sell some of its venture-capital portfolio in order to pay off its creditors. This move has been seen by some as a way to reduce exposure to the volatile crypto market and secure additional funds to pay off its creditors.

The Financial Times report also highlighted the potential impact of the dispute between the two companies on the wider crypto industry. It noted that the feud between the two companies could have a knock-on effect on other companies in the industry, with smaller investors potentially being left out of pocket as a result.

Despite the growing tensions between the two parties, Ahluwalia maintains that the dispute is a sign of maturing in the crypto industry and that companies must take responsibility for their actions. He stated that the industry must ensure that its practices are up to the standards of the traditional financial world and that companies must be held accountable for their actions.

It is unclear how the dispute between the two companies will ultimately be resolved, but it is clear that the feud has highlighted some of the issues that still need to be addressed in the crypto industry. The dispute between DCG and Gemini is a reminder that the industry is still in its infancy and companies must be held to a higher standard if they are to remain viable in the long-term.

Bullet Points:
• Annualized inflation slowed to 6.5% in December from 7.1% previously.
• Bitcoin (BTC) saw a dip in price but remains above $18,000 following the news.
• The consumer price index (CPI) slipped 0.1% in December, roughly in line with expectations for a flat reading.

The US economy saw a slight dip in inflation in December, with the consumer price index (CPI) slipping 0.1% in line with expectations for a flat reading. On an annualized basis, the CPI was higher by 6.5%, in line with expectations and down from 7.1% a month earlier. The core CPI – which strips out volatile items such as food and energy – was up 0.3% in December, in line with forecasts. Annualized core CPI was up 5.7%, also in line with forecasts and down from 6% in November.

The news had an effect on the cryptocurrency market as well, with Bitcoin (BTC) slipping about $150 when the news broke. However, BTC remains above $18,000 and the cryptocurrency market has shown resilience to macroeconomic news.

The impact of macroeconomic news on the cryptocurrency market is not yet fully understood. Many commentators believe that the current bear market has been caused by a combination of macroeconomic news and market manipulation. It is possible that the current bear market is caused by a combination of macroeconomic news, market manipulation, and investor sentiment.

The long-term impact of macroeconomic news on the cryptocurrency market is likely to be significant. If the US economy continues to experience inflation, it is likely that investors will flock to Bitcoin and other digital assets as a hedge against inflation. On the other hand, if the US economy experiences deflation, investors may move away from Bitcoin and other digital assets as a safe haven.

In the short term, it is difficult to predict the exact impact of macroeconomic news on the cryptocurrency market. However, it is likely that the news will continue to influence investor sentiment and the overall performance of the market. As such, investors should continue to monitor macroeconomic news and their potential impact on the cryptocurrency market.

• The TON Foundation is launching a data storage ecosystem called TON Storage.
• TON Storage is a peer-to-peer file sharing system using the TON blockchain, allowing users to store data virtually in perpetuity.
• Node operators are incentivized to host files for users through smart contracts on the TON blockchain.

The TON Foundation, the stewards of proof-of-stake blockchain TON – conceived by Telegram Messenger founders, have announced the launch of their new project, TON Storage. This project is aimed at solving large-scale data storage problems, by allowing users to exchange files of any size.

TON Storage is a peer-to-peer file sharing system, operating on the TON blockchain. This allows users to store data virtually in perpetuity, without the need for a centralized web server. Node operators are incentivized to host files for users through the use of smart contracts on the TON blockchain. This ensures that users are able to store large amounts of data securely, and are rewarded for doing so.

The smart contracts guarantee that users will pay a fixed amount in Toncoin to store files for a predetermined amount of time. This allows node operators to be rewarded for the services they provide, and also allows users to trust that their data will remain secure.

The TON Storage project is an ambitious effort to solve the problems associated with large-scale data storage. By providing users with a secure and reliable platform to store their data, the TON Foundation hopes to revolutionize the way we store and manage large amounts of data. This could have major implications for the future of data storage, and could even lead to new business opportunities.

The TON Foundation is currently working on developing the platform and making it available to users across the globe. If successful, this project could revolutionize the way we store data, and could open up new possibilities for data storage and management.

• Kraken has announced that it will deregister from the Financial Services Agency of Japan and will cease operating in Japan as of January 31.
• Users in Japan have until the end of the month to withdraw their holdings, either transferring crypto to another wallet or wiring Japanese yen to a local bank.
• The decision to leave Japan is part of a larger effort to prioritize resources and investments to ensure the long-term stability of the exchange.

Kraken, a popular cryptocurrency exchange, has announced that it will be exiting Japan and deregistering from the Financial Services Agency (FSA) as of January 31. The decision comes amid “current market conditions in Japan in combination with a weak crypto market globally”, according to a blog post released by the company.

The exchange, which has been in operation since 2011, is one of the largest and oldest in the industry. It was co-founded by Jesse Powell, who departed from his role as CEO in September 2020 and was to be replaced by Chief Operating Officer Dave Ripley. However, in November 2020, the company faced a major setback when it was forced to cut 30% of its global workforce due to the crypto market’s stagnation following the collapse of rival exchange FTX.

In light of the current market conditions, Kraken has decided to prioritize resources and investments to ensure the long-term stability of the exchange. As a result, the company will be ceasing its operations in Japan and deregistering from the FSA. All users in Japan are being advised to withdraw their holdings by the end of the month, either transferring crypto to another wallet or wiring Japanese yen to a local bank.

Kraken is not the first exchange to make the difficult decision of leaving Japan. Earlier this month, Binance also announced its departure from the country, citing a “challenging business environment”. The move prompted the FSA to issue a warning to companies considering leaving the country, stressing the importance of ensuring that users are able to withdraw their funds.

The move by Kraken is indicative of the difficult market conditions in Japan, as well as the wider crypto market. Despite the current challenges, the exchange is committed to ensuring the long-term stability of its platform and its users.

• Argo Blockchain (ARBK) has avoided filing for bankruptcy protection after agreeing to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital for $65 million.
• The miner will also get a new $35 million loan from investor Michael Novogratz’s crypto-focused financial-services firm, which will be secured by Argo’s mining equipment.
• Argo will also enter into a two-year hosting agreement with Galaxy, securing a place for Argo’s computers to keep mining at the Helios facility.

Argo Blockchain, one of the world’s largest Bitcoin miners, has managed to avoid filing for bankruptcy protection after agreeing to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital for $65 million. This new deal will also provide Argo with a new $35 million loan from investor Michael Novogratz’s crypto-focused financial-services firm, which will be secured by Argo’s mining equipment.

The transaction was structured to bolster Argo’s balance sheet and capital structure, helping the miner to stay afloat during the bear market. This is especially important, given that the miner was in a precarious situation after a previous deal for $27 million in funding fell through in October.

In addition to the sale of the Helios mining facility and the loan from Galaxy Digital, Argo will also enter into a two-year hosting agreement with the firm. This will secure a place for Argo’s computers to keep mining at the Helios facility.

Speaking on the deal, Argo CEO Peter Wall said: „Over the last few months, we have been looking for a way to continue mining through the bear market, reduce our debt load and maintain access to the unique power grid in Texas. This deal with Galaxy achieves all of these goals, and it lets us live to fight another day.“

Chris Ferraro, president and chief investment officer at Galaxy, also commented on the transaction, saying: „When the miner kicked off its process, we were in a position to solve the problem completely for Argo, while accelerating the expansion of our own mining capabilities.“

The news of the deal sent Argo’s shares more than doubling in early London Stock Exchange trading, prompting a 24-hour suspension of trading in its Nasdaq-listed shares. This is a much-needed boost for the miner, which has been struggling to remain profitable in the bear market.

With this new deal, Argo has managed to secure its future and remain in the mining business, something that could have been impossible had it gone ahead with filing for bankruptcy protection. This deal with Galaxy Digital is a major step forward for the miner and will likely help to secure its future in the long run.

• According to a report by blockchain intelligence firm Crystal Blockchain, cryptocurrency payments to ransomware hackers only totaled $16 million in 2021, compared to nearly $74 million the year before.
• Analysis of on-chain activity shows that crypto services with a high money laundering risk score—meaning they receive funds from scams and cybercrime more often than others—are seeing a drop in popularity.
• Crypto exchanges and services that manage to keep “dirty” crypto out have been further tightening anti-money laundering policies, effectively scaring away criminal actors.

Cryptocurrency payments to ransomware hackers have declined significantly in 2021, according to a report by blockchain intelligence firm Crystal Blockchain. The report found that payments in cryptocurrency to ransomware hackers totaled a mere $16 million, compared to nearly $74 million USD in 2021.

The decline in cryptocurrency payments to ransomware hackers may be due to the rise in ransomware attacks since 2021. This year, the notorious Conti ransomware gang, known for terrorizing U.S. hospitals during the COVID-19 pandemic, ceased operations, but new groups are constantly emerging.

According to the report, analysis of on-chain activity shows that crypto services with a high money laundering risk score—meaning they receive funds from scams and cybercrime more often than others—are seeing a drop in popularity. Nick Smart, Crystal’s director of blockchain intelligence, stated that it may be too early to conclude that ransomware attacks are in permanent decline.

The report also found that crypto exchanges and services that manage to keep “dirty” crypto out, have been further tightening anti-money laundering policies, effectively scaring away criminal actors. The volume of funds sent to low-risk exchanges from scams fell by 24% in 2022 compared to 2021.

Overall, while cryptocurrency payments to ransomware hackers have declined significantly in 2021, the threat of ransomware attacks remains. Therefore, it is important for organizations to take steps to protect their data, such as using strong encryption, regularly updating their systems, and implementing a robust backup and recovery plan. It is also important for organizations to remain vigilant and monitor for any suspicious activity on their networks. Finally, organizations should not pay ransom demands if they are targeted, as this could encourage further attacks.