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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.

• 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.

• 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, 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.

• 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.

• 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 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.

• Non-fungible token (NFT) dominance on Ethereum has rebounded to 22%, suggesting that NFTs may be making a comeback.
• According to the latest weekly report from Glassnode, the NFT dominance on Ethereum had dropped to only 13% just a while ago.
• The value of this metric has increased for NFTs, meaning that the token is now making up for a higher part of the total gas consumption on the Ethereum network and is seeing relatively higher usage from holders than the other transaction types.

Non-fungible tokens (NFTs) have been gaining traction in the crypto space in recent months, and it looks like Ethereum is now leading the way in terms of NFT usage. According to the latest weekly report from Glassnode, the NFT dominance on Ethereum has rebounded to 22%, suggesting that NFTs may be making a comeback.

The “dominance” here is based on the percentage of the total gas usage on the ETH network that a particular transaction type is consuming right now. When the value of this metric increases for a specific type of token, it means that the token is now making up for a higher part of the total gas consumption on the Ethereum network and is, thus, seeing relatively higher usage from holders than the other transaction types.

As ETH has a very diverse ecosystem thanks to its smart contracts, the network hosts a large variety of transaction types, each corresponding to the different applications built on the blockchain. Some of the most popular such applications include ERC20 tokens, NFTs, bridges, MEV bots, and DeFi. The value of the metric seems to have gone up for non-fungible tokens in recent days, indicating that the interest in these tokens is increasing, and that Ethereum is becoming the go-to place for NFTs.

This resurgence of interest in NFTs has been further corroborated by the recent success of some of the most popular NFT platforms, such as OpenSea and CryptoKitties. OpenSea, in particular, has experienced immense growth in the past few months, with the platform’s total transaction volume increasing by more than 1000% since October 2020.

The increased interest in NFTs is also being driven by the emergence of new use cases for these tokens, such as tokenization of real-world assets and virtual items, as well as the development of NFT marketplaces. This has led to an influx of new users into the NFT space, which is driving up the demand for these tokens and pushing their prices higher.

Overall, it looks like NFTs are making a strong comeback on the Ethereum network, and it will be interesting to see how the ecosystem develops in the coming months. With more and more developers creating new applications and platforms for NFTs, there’s no doubt that the space will continue to grow and develop in the near future.

• Tim Draper predicts that Bitcoin will hit $250,000 by 2023.
• Carol Alexander predicts that Bitcoin will hit $50,000 sometime in 2023.
• Other prominent personalities in the space have shared their predictions, some bullish, some bearish.

As the start of the new year approaches, investors in the crypto space are looking to the future to see what the next year will bring. This is especially true when it comes to Bitcoin, the world’s first and most popular digital asset. With the halving coming up in 2024, many prominent personalities in the space have shared their predictions of what the price of Bitcoin will be in the next three years.

One of the most notable predictions comes from billionaire investor Tim Draper, who believes that the price of Bitcoin will reach $250,000 by 2023. In an email to CNBC, Draper reiterated his prediction, stating that he expects the “halvening in 2024 will have a positive run” and that the more women who are drawn into BTC, the higher the price will go.

On the more conservative side, Professor Carol Alexander of Sussex University predicts that the digital asset will hit $50,000 sometime in 2023. She believes that the bull market of that year will be “managed” and that the $50,000 mark will be reached somewhere in the third or fourth quarter.

Other prominent figures in the crypto space have shared their predictions as well, with some being more bullish and others being more bearish. For example, crypto analyst Willy Woo believes that Bitcoin will reach $100,000 by the end of 2023, while crypto analyst Tone Vays believes that the price will stay below $50,000.

No matter which prediction ends up coming true, it’s clear that the crypto space is filled with optimism for the future of Bitcoin. With all of the positive developments and news that have come to light in the past year, it’s likely that the digital asset will reach new heights in the next three years. Only time will tell which prediction ends up being the most accurate.

• Morocco is drafting a new cryptocurrency bill to protect crypto investors and put regulations in place.
• The Central Bank and key stakeholders have completed writing the document and will soon have a discussion to determine the regulatory framework.
• Abdellatif Jouahiri, the governor of Bank Al-Maghrib, recently stated that the project is ready and they are now engaging in discussions with different stakeholders.

The Moroccan government has recently announced the drafting of a new crypto law that is aimed at safeguarding crypto investors from the risks of the nascent industry. This will be the country’s first cryptocurrency bill and is expected to be introduced in the coming days.

The regulatory framework will be presented to stakeholders soon, as there is an undeniable need for regulations in the industry due to the increasing popularity of cryptocurrencies in the country. The Central Bank of Morocco, Bank Al-Maghrib (BAM), has completed writing the document and is now in the process of engaging in discussions with key stakeholders in the crypto sector. Among the stakeholders are the Moroccan Capital Markets Authority (AMMC), the Insurance Supervisory Authority (ISA) and the American Council on Pension and Social Security (ACAPS).

Abdellatif Jouahiri, the governor of BAM, recently held a press conference wherein he stated that the project is ready and that they are now engaging in discussions with different stakeholders. He further remarked that: “For cryptocurrencies, I can assure you that the project is ready. We worked with the World Bank and the consultant to make it happen. The different chapters are completed. Now we are engaged in the discussion with the different stakeholders. It is long, but necessary to allow everyone to adhere to this project.”

Once these discussions are complete, the new regulatory framework will be put into effect before the passage of the crypto law. The bill is expected to bring much-needed clarity to the industry and protect investors from the risks associated with it. It also aims to encourage innovation within the sector and create a more favorable environment for startups.

The Moroccan government has recognized the potential of the blockchain technology and cryptocurrencies, and they are taking the necessary steps to ensure that the industry is regulated in the most efficient way possible. With the new regulatory framework, investors in the country will be able to invest in the crypto space with much more confidence and assurance.