150% Welcome Bonus & 100 Free Spins: Chainalysis Prepares for 2023 Reorganization

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• Many crypto firms and startups went under in 2020 due to the crypto winter.
• Chainalysis is making a proactive move to prepare for 2023 by restructuring, which includes laying off non-core personnel.
• The company aims to refocus its business strategy on new products suitable for the financial sector.

Crypto Industry Turmoil Affects Companies

Last year, many crypto firms and startups went under due to the turmoil in the space. In addition, the devastating impact of the crypto winter affected many businesses as prices of crypto assets fell below expected levels.

Chainalysis Prepares For Reorganization

As a result, many crypto-related firms have started implementing restructuring strategies right from the beginning of 2023. Chainalysis is one of the firms making a proactive move to prepare its grounds for the year. A report from Forbes revealed that the blockchain research company Chainalysis plans to lay off some of its employees. According to the report, Maddie Kennedy, the director of communications at the firm, stated that the company is restructuring.

Layoff Part Of Company’s Refocus Strategy

The company plans to lay off some non-core personnel, especially the sales team. Then, it will reshuffle roles of other staff while creating a new organizational structure. The blockchain analytics firm dismissed 44 out of its 900 staff, representing 4.8% of its workforce . This layoff was part of Chainalysis’ reorganization plan to help refocus its business strategy in 2023 and cushion against further losses in private sector customers as asset prices drop and more reports emerge imploding platforms skyrocketing caution among users when transacting with cryptocurrencies..

Chainalysis Targets Financial Sectors

The blockchain analytics firm also mentioned that it plans to create new products suitable for financial sectors while targeting public clients such as Robinhood (an online brokerage) and BNY Mellon (a custodian bank). The firm also has other securities-service firms and government entities like SEC, FBI, DEA as customers accounting for 60% of their sales in past years are also customers they are targeting this restructuring towards them too so they can stay afloat during these times..

Conclusion

Overall Chainalysus’s restructing plan is necessary as it helps re focus their business strategy on creating new products suitable for financial sectors while targeting public clients directly and government entities indirectly so that they can stay afloat during these trying times where user caution when transacting with crytocurrencies has increased drastically due to lack or trust within thw market place

FLOKI Inu Surges 25% After Token Burning Proposal Issued by DAO

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• Floki Inu, a meme coin birthed by fans and the SHIB community, has seen tremendous performance over the past few hours after its governing DAO issued an important developmental proposal.
• The proposal proposed the burning of an enormous number of its circulating tokens, in order to reduce the tax that users pay for transacting on the network and to reduce potential safety hazards associated with bridges.
• After the proposal issuance, FLOKI saw a massive price increase of 25%.

Floki Inu, a meme coin birthed by fans of the Shiba Inu (SHIB) community, has seen a tremendous surge in performance in the past few hours. The boost in price is a result of an important developmental proposal issued by the coin’s governing decentralized autonomous organization (DAO). The proposal called for the burning of an enormous number of its circulating tokens, in order to reduce the tax that users pay for transacting on the network and to reduce potential safety hazards associated with bridges.

The proposal cited various reports indicating the risks associated with cross-chain bridges, especially ones with a large amount of money. Over $2 billion was either misplaced or stolen from cross-chain bridges alone in 2022, making it necessary to reduce the risk by reducing the circulating token supply. Token burning is a process by which blockchain developers permanently remove certain coins from circulation, in order to increase the asset’s value, provided demand does not change.

The proposal was met with a lot of enthusiasm, and the FLOKI token saw a massive price increase of 25%. The proposal’s success was attributed to the strong community support and the fact that FLOKI is a people’s cryptocurrency, governed by a DAO. The community proposal to burn an enormous number of its circulating tokens has been hailed as a success, and it has been seen as a sign of the growing strength of the coin, as well as a testament to the effectiveness of its governance.

Going forward, FLOKI is expected to continue its strong performance as its developers continue to work on improving the coin’s features and increasing its utility. The proposal’s success has also been seen as a positive sign for the future of the coin, as it shows that the community is willing to support the coin and its developers in their efforts to enhance the coin’s value. With its strong performance and the community’s backing, FLOKI is expected to continue to rise in the ranks of the top coins.

BTC Surges 30% to $23,000 – Fed Policy Shift May Impact Crypto Market

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• Bitcoin’s price has increased by 30% since the beginning of the 2023, surpassing $23,000.
• The recent rally in the alpha coin was triggered by a decline in the U.S. Consumer Price Index, indicating a likely deceleration in interest rate hikes.
• Arthur Hayes, former BitMex big boss, claims in a new treatise on U.S. macroeconomic policy that a “disastrous global financial crisis” could be poised to submerge BTC and the crypto market.

The cryptocurrency market has been abuzz with speculation and excitement since the price of Bitcoin experienced a major surge in recent months. After dipping below $16,000 late last year, Bitcoin’s price has increased by an impressive 30% since the beginning of the 2023, surpassing $23,000. This unprecedented rally has left many financial gurus wondering what could possibly be driving the cryptocurrency market.

Recent figures from the U.S. Bureau of Labor Statistics suggest that inflation has been on a steady decline since mid-2022 and is currently sitting at a much more desirable rate of 2%. This trend has led to speculation that Federal Reserve Chairman Jerome Powell may be ready to shift away from his Quantitative Tightening policies in order to avoid the risk of a recession.

However, Arthur Hayes, the founder and former chief executive of the BitMex crypto exchange has cautioned that Bitcoin and the market for crypto assets may experience a decline if the U.S. Federal Reserve does not adjust its monetary policies. In a new treatise on U.S. macroeconomic policy, Hayes claims that a “disastrous global financial crisis” could be poised to submerge BTC and the crypto market, and that the current Bitcoin surge should not be seen as the start of a new bull run.

The recent rally in the alpha coin was triggered by a decline in the U.S. Consumer Price Index, indicating a likely deceleration in interest rate hikes. Nevertheless, the rise in Bitcoin’s value has raised some eyebrows, as it is still unclear how a possible Federal Reserve policy shift could impact the crypto market.

Despite the uncertainty, it is clear that the cryptocurrency market is beginning to gain traction once again. With the possibility of a new bull run looming, investors will be watching closely to see if the Federal Reserve can effectively manage its monetary policy to ensure the market’s continued success.

Binance Launches Regional Exchange Platform in Bahrain

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• Binance has launched binance.bh, a platform that will let Bahraini users access a range of regulated products and services, including deposits and withdrawals in local currencies.
• The platform was launched under the guidance of the Central Bank of Bahrain and the Economic Development Board.
• Binance’s expansion into Bahrain is part of its global expansion strategy, which has seen the company hire despite other major exchanges slashing jobs considerably.

Binance, the world’s most popular cryptocurrency exchange, has recently made a major move by launching binance.bh, a platform that will let Bahraini users make deposits and withdrawals in their local currencies, as well as access a range of regulated products and services from Binance. This expansion was conducted under the guidance of the Central Bank of Bahrain and the Economic Development Board, and marks a significant step forward in Binance’s global expansion strategy.

For Bahrain users to take advantage of this new platform, they must link their bank accounts with their binance.bh accounts. This will allow them to top-up and withdraw local currencies, as well as access other products and services. The Central Bank of Bahrain Governor, Rasheed Al Maraj, commented on the launch, stating: “As part of the ongoing collaboration between banks and industry and sector leaders, the Central Bank of Bahrain (CBB) welcomes Binance’s decision to establish a regional headquarters for its Middle East operations in Bahrain. CBB aims to develop a supervisory framework that facilitates innovation and appropriate regulatory controls for encrypted asset trading service providers and their clients, based on global trends and developments in financial services.”

Khalid Humaidan, CEO of the board, echoed Al Maraj’s sentiments, saying: “The launch of their platform reaffirms Bahrain’s position as a leading hub for innovation in the Middle East and North Africa region. It also provides a secure and trusted environment for investors, traders and institutions to access the entire suite of Binance services.” Binance’s expansion into Bahrain is part of its global expansion strategy, which has seen the company hire despite other major exchanges slashing jobs considerably.

Binance.bh is just the latest in a long line of successful expansions by Binance into the Middle East and North Africa region, and the company is likely to continue its expansion into the region in the coming years. With this latest move, Binance is showing its commitment to the region and its commitment to providing a secure and trusted environment for investors, traders and institutions.

Scaramucci Backs Crypto Company Project Led by Former FTX US President

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• Anthony Scaramucci is reportedly supporting former FTX US crypto trading platform president Brett Harrison in a new crypto company project.
• The new company aims to help investors and traders in the cryptocurrency market access different related markets.
• Harrison has been seeking a $10 million fundraising project, with a $100 million valuation once reached.

Skybridge Capital founder Anthony Scaramucci has expressed his support for Brett Harrison, former president of FTX US crypto trading platform, in his new crypto company project. The endeavor is being backed financially by Scaramucci in an undisclosed amount, as reported by Financial Express in an email sent to various news outlets.

The new, currently unnamed company by Harrison, is designed to help investors and traders in the cryptocurrency market gain access to different related markets. This will be made possible by allowing them to create strategies based on algorithms, which can be either centralized or decentralized. To bring the project to fruition, the former FTX US president has been striving to raise $10 million, with a $100 million valuation once achieved.

On the 14th of January, 2023, Harrison took to Twitter to express his gratitude to Scaramucci, who responded that he was proud to be an investor and wished the entrepreneur the best in his endeavor. He also advised him to go forward and never look back.

Prior to his departure from FTX US in September 2022, Harrison had given hints that he was planning something big. Now, with the support of Scaramucci, the project is set to become a reality. It promises to open up a range of opportunities for investors, traders, and the wider cryptocurrency market.

It remains to be seen how the project will fare in the future and how it will change the landscape of the crypto industry. But with the backing of Scaramucci and the vast experience of Harrison, it is sure to make a big impact.

Whales Accumulating 37,100 BTC: On-Chain Data Suggests Confident Buyers

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• On-chain data shows that large Bitcoin whales have added 37,100 BTC to their holdings in recent days.
• The wallet groups of interest are 10-100 coins, 100-1,000 coins, and 1,000 to 10,000 coins.
• The total percentage of the Bitcoin supply held by the 10-100 coins band has been rising for the past 10 weeks.

In the crypto space, there has been a lot of discussion in recent days regarding the accumulation of large Bitcoin whales. On-chain data from the analytics firm Santiment suggest that multiple Bitcoin holder groups have been displaying some strong accumulation in the last 10 days as BTC has been rallying strong.

The relevant indicator here is the “BTC Supply Distribution,” which tells us which wallet groups on the network are holding what percentage of the total supply right now. The wallet groups here refer to ranges that denote the upper and lower bound for the number of coins that each wallet in a given group is currently holding. For instance, the 1-10 coins band includes all wallets that are carrying at least 1 BTC and at most 10 BTC right now. The Supply Distribution metric for this group would then show the share of the total Bitcoin supply that the combined balances of all the wallets falling into this range currently occupy.

In particular, there are three wallet groups of interest: 10-100 coins, 100-1,000 coins, and 1,000 to 10,000 coins. Looking at the trends in the Supply Distribution curves for each of these bands over the past year, it’s clear that the values of these metrics have surged in recent days.

The total percentage of the Bitcoin supply held by the 10-100 coins band has been steadily increasing for the past 10 weeks or so. Holders with balances in this range are usually called “sharks,” as they are typically large and sophisticated investors. In this recent period, these whales have added 37,100 BTC to their holdings, representing a significant amount of capital.

At the same time, the 100-1,000 coins band has also seen a steady increase in its Supply Distribution metric. This suggests that whales with balances ranging from 100 BTC to 1,000 BTC have also been actively accumulating in the past few weeks.

Finally, the 1,000-10,000 coins band has also seen its Supply Distribution metric slowly rising in recent days. This indicates that whales with balances in the thousands of BTC range have also been accumulating recently.

Overall, the on-chain data suggests that large Bitcoin whales have started accumulating in the last 10 days as BTC has rallied strong. This is a promising sign, as it suggests that these whales are confident in the long-term prospects of Bitcoin and are actively buying into the current rally.

Anthony Scaramucci Supports Brett Harrison’s New Crypto Company with $10M Investment

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• Anthony Scaramucci, founder of Skybridge Capital, reportedly supports Brett Harrison, former President of FTX US crypto trading platform, in his new crypto company project.
• The aim of this company is to help investors and traders in the cryptocurrency market access different related markets, both centralized and decentralized.
• Scaramucci will be supporting the said company with his own personal money, with a $10 million fundraising project and a $100 million valuation once reached.

Anthony Scaramucci, founder of Skybridge Capital, has recently decided to support Brett Harrison, former President of FTX US crypto trading platform, in his new crypto company project. The aim of this initiative is to help investors and traders in the cryptocurrency market access different related markets, both centralized and decentralized.

Scaramucci will be supporting the said company with his own personal money, with a $10 million fundraising project and a $100 million valuation once reached. The decision was announced in an email sent to various news outlets, as reported by Financial Express. It has been made clear that the amount invested by Scaramucci has not been disclosed yet.

Harrison had been very active in the crypto space before stepping down from his post as the president of FTX US in September 2022. He had been dropping hints about his new crypto project even before then. He had made it clear that his new company would aim to help investors and traders access different related markets, both centralized and decentralized.

In a tweet posted by Harrison on the 14th of January, 2023, Scaramucci’s response said he was proud to be an investor and wished Harrison the best in his new venture, while also advising him to go forward and never to look back.

This new project by Harrison is expected to bring new opportunities to the crypto world, while also making it more accessible to everyone. It is also a great example of how influential people like Scaramucci are looking to invest in promising projects in the crypto space. With their support, projects like these have a higher chance of success and can bring great benefits to the entire crypto ecosystem.

SFC Prioritizes Consumer Protection with Restrictions on Crypto Trading

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• The Securities and Futures Commission (SFC) in Hong Kong is prioritizing consumer protection by limiting retail investors to trading only “Highly Liquid” Crypto Assets.
• The SFC will release a consultation paper later this quarter that will give more details on products and conditions for retail investors to trade in virtual assets.
• The SFC will also release guidelines for the licensing requirements for virtual assets exchanges.

Hong Kong is taking a major step forward in the development of its crypto regulations. At the Asia Financial Forum on January 11th, Securities and Futures Commission (SFC) CEO Julia Leung Fung-yee announced that the commission is focusing on consumer protection by only allowing retail investors to trade “highly liquid” crypto assets.

The SFC is planning to issue a consultation paper during this quarter that will provide more details on products and conditions for retail investors. This paper will also set the criteria for which major virtual assets retail investors can trade in. Leung stressed the importance of limiting retail investors to only trading specific assets, as some virtual asset platforms have over 2,000 products available.

In addition to the consultation paper, the SFC will also be releasing guidelines for the licensing requirements for virtual assets exchanges. This will ensure that all exchanges operating in Hong Kong will have to meet certain standards in order to be approved.

These regulations are an important step in the development of the crypto industry in Hong Kong. By limiting retail investors to only trading “highly liquid” assets, the SFC is making sure that investors are protected and that the industry remains safe and secure. The consultation paper and licensing requirements will ensure that all exchanges are up to the standards set by the SFC and that they are able to provide a safe and secure environment for investors.

Grayscale, Winklevoss Brothers Battle SEC for Customer Funds

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• Cameron Winklevoss has taken a step in the escalation over Gemini Earn customer funds with a new open letter.
• The current battle for Grayscale is also about continuing to fight on the front lines against the U.S. Securities and Exchange Commission.
• Craig Salm, chief legal officer (CLO) at Grayscale, revealed Grayscale will soon file the next brief in its lawsuit against the SEC.

The fate of Genesis Trading, Digital Currency Group (DCG) and the Grayscale Bitcoin Trust (GBTC) is uncertain after Cameron Winklevoss took another step in the escalation over Gemini Earn customer funds with a new open letter on Tuesday. Grayscale, in particular, is locked in a legal battle with the U.S. Securities and Exchange Commission (SEC) in an effort to convert the GBTC into a spot Bitcoin ETF.

Craig Salm, the chief legal officer (CLO) of Grayscale, took to Twitter to provide an update on the case and express the company’s optimism regarding the outcome. According to Salm, Grayscale will “soon” file the next brief in its lawsuit against the SEC, which is refusing to convert GBTC into a spot Bitcoin ETF. This would close GBTC’s massive discount and remove a concern for the beleaguered DCG group.

The case is progressing “swiftly,” though the exact timing of a decision is uncertain. Oral arguments could come as early as the second quarter of 2021, while a final decision before the DC Circuit Court of Appeals could come by fall. Salm is confident that the appeals court will approve the conversion of GBTC into a spot ETF because it is about “fair and equal treatment under the law.” He also states that the conversion is the best solution for all GBTC shareholders.

Gemini Earn customers, on the other hand, may have to wait longer to hear any news. Meanwhile, the Winklevoss brothers have expressed their commitment to doing whatever it takes to safeguard customer funds and ensure that they are returned in full. The open letter they released states that they have already taken “extensive steps” to recover the funds and that they are committed to continuing the effort.

The situation is still unfolding, and it is unclear what will happen next. For now, all stakeholders – including Gemini Earn customers, Genesis Trading, Digital Currency Group and Grayscale Bitcoin Trust – will have to wait and see how the events unfold.

Plaintiffs Voluntarily Dismiss Crypto Case Against TerraUSD and Affiliates

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• Plaintiffs in a class action lawsuit against TerraUSD and its affiliates voluntarily dismissed their case on Monday.
• Matthew Albright filed the lawsuit on behalf of others against Terraform Labs (TFL), Pte Limited, and other affiliates in the Southern District of New York Court in August 2022.
• The lawsuit could be linked to the November tweets by 3AC’s cofounder Zhu Su that FTX and Alameda Research manipulated the crypto market.

On Monday, the plaintiffs in a class action lawsuit against TerraUSD and its affiliated companies voluntarily dismissed their case. Matthew Albright, the lead plaintiff in the case, filed a notice in the Southern District of New York Court in August 2022 on behalf of others against Terraform Labs (TFL), Pte Limited, and other affiliates. The notice stated that the case against the defendants has been voluntarily dismissed. The defendants include Terraform Labs, Do Kwon, Delphi Digital Consulting, Luna Foundation Guard (LFG), Jump Trading, Nicholas Platias, and three others.

The plaintiffs alleged that the defendants falsely promoted, manipulated, and offered UST stablecoin and LUNA. According to the lawsuit, the defendants falsely projected the coins’ stability while laundering the profits from Terraform Labs into personal accounts. They accused the defendants of misappropriating the profits from Terraform Labs and using them to benefit themselves.

The lawsuit could be linked to the November tweets by 3AC’s cofounder Zhu Su that FTX and Alameda Research manipulated the crypto market. Zhu claimed that FTX was part of a conspiracy that resulted in the UST collapse. Three Arrows Capital got hit badly by the UST collapse and blamed FTX for the fallout.

Despite the voluntary dismissal of the case, the plaintiffs have not given up their fight for justice. They have vowed to continue to pursue justice and have called on other investors who have been affected by the UST collapse to join them in their fight. The defendants have yet to comment on the voluntary dismissal of the case.