Bitcoin
The US government plans to auction off $130 million worth of Bitcoin that was seized in connection with the Silk Road marketplace case.
Tesla, the automotive and clean energy company, announced in its earnings report that it held onto its Bitcoin holdings during the fourth quarter of 2023.
The conversion of the FTX bankruptcy estate into a spot Bitcoin ETF has contributed to significant outflows from Grayscale’s Bitcoin fund.
Ethereum
The SEC has postponed its decision on BlackRock’s spot Ethereum ETF until March. It has also delayed Fidelity’s application for a Fidelity Ethereum fund.
The SEC has not provided clear indications of its stance on Ethereum ETF applications, despite approving spot Bitcoin ETFs.
Geth, the Ethereum Execution Client, witnessed a 5% decrease in its market share due to concerns about the network’s concentration and potential risks.
Business
Celsius, a defunct crypto lending platform, has moved $1 billion worth of ETH to centralized exchanges, fueling speculation about repayment to creditors.
Core Scientific, a Bitcoin mining company, has successfully relisted on Nasdaq after overcoming $400 million in debt through reorganization and debt reduction.
Abra, a crypto lending platform, has reached a settlement with the Texas State Securities Board, allowing investors to withdraw up to $13 million.
Security
The DeFi platform 1inch has conducted millions of wallet screenings to identify Anti-Money Laundering (AML) risks since 2022.
A coordinated crypto scam and phishing campaign is targeting investors with fake emails promoting token airdrops.
The SEC has attributed a breach of its official X account to a SIM swap attack, suggesting that a hacker hijacked a staffer’s phone.
According to Chainalysis, North Korea-linked hacks reached a record high in 2023, although the stolen funds decreased by 50%.
Legal experts are optimistic that Coinbase will secure a complete dismissal in its ongoing lawsuit against the SEC.
CBDC
Vivek Ramaswamy, a former GOP presidential candidate, warns against the introduction of a US central bank digital currency (CBDC) due to concerns about citizens’ financial freedom.
Regulation
CFTC Chair Rostin Benham has expressed concerns about the recently approved spot Bitcoin ETFs and called for new regulations for the crypto industry.
A Canadian judge has ruled that Prime Minister Justin Trudeau violated the country’s Charter of Rights and Freedoms by banning a Bitcoin crowdfunding initiative by truck drivers in 2022.
The Virginia State Senate has introduced legislation to regulate the mining and transactions of digital assets and their treatment under tax laws.
A group of US lawmakers, led by democratic representative Maxine Waters, is pressuring Meta’s upper management to disclose their plans relating to crypto and blockchain.
Hot Take: Regulatory Focus on Spot Ether ETFs
The approval of spot Bitcoin ETFs has shifted the focus to spot Ether ETF applications, and the crypto community eagerly awaits the SEC’s decisions. As the regulatory body reviews BlackRock’s and Fidelity’s proposals, the future of spot Ether ETFs remains uncertain. The SEC’s delay in providing a clear stance on these applications has left investors and crypto enthusiasts speculating on the outcome. All eyes are on the regulatory landscape, as the approval or rejection of spot Ether ETFs could have significant implications for Ethereum and the broader crypto market.
Cyrus Dailey stands as a luminary gracefully weaving the roles of crypto analyst, tenacious researcher, and editorial artisan into a captivating narrative of insight. Amidst the intricate world of digital currencies, Cyrus’s perspectives resonate like finely tuned melodies, captivating curious minds from a myriad of perspectives. Her ability to decipher complex threads of crypto intricacies melds seamlessly with her editorial finesse, transforming intricacy into a harmonious composition of understanding.