Block.one seeking USD 4.1bn damages. CEO Yves La Rose stated that Block.one is being held accountable for past actions and broken promises.
A couple accused of trying to launder billions in bitcoin from the Bitcoinfinex cryptocurrency exchange in 2016 hack asked a Washington judge for a reissue of a decision to release them on bail, according to Bloomberg. Heather Morgan and Ilya Lichtenstein have already demonstrated that they will participate in the case. Despite being aware of their investigation months ago, they stayed put despite having access to hundreds of millions in bitcoin.
News about investments
In 2021, the total value of crypto mergers & acquisitions (M&As) increased by 4,846%. The average deal size also increased threefold, from USD 52.7m in 2017 to USD 179.7m in 2018. This was driven by mega USD >1bn SPAC transactions, according to a new PwCreport. 51% of all deals took place in the Americas. However, Europe, Africa, and the Middle East (EMEA), accounted for USD 25.5bn more in terms of deal values.
The largest known cut diamond in the world, a rare 555.55 carat black diamond, was purchased by Richard Heart (founder of the Hex.com Exchange) at an auction for GBP 31.6m (USD 4.28m). Heart will rename the diamond “The Enigma” and “Hex.com diamond”.
The Philippine Digital Asset Exchange announced that it had raised more than USD 50m through funding from Tiger Global and according to Fintech Philippines. According to Fintech Philippines, the exchange is licensed by the Philippine central banking Bangko Sentral ng Pilipinas. The funds will be used for building a safe, accessible infrastructure for digital asset economics.
Ethernity (ETH) is a non-fungible token (NFT), marketplace that focuses on drops from athletes and celebrities. It announced that it had raised USD 20m seed funding. Ethernal Labs will be Ethernity’s new umbrella company. This will allow Ethernity to expand its team to assist brands and celebrities in entering the NFT space as well as into metaverse and play-to-earn gaming.
Bitcoin (BTC), payment provider OpenNodehas close received a USD 20m Series B funding round from UK firm Kingsway at a USD 220m value to support its global expansion. According to the company, its platforms and systems include payment buttons, hosted checkouts and optimized application programming interfaces.
XYO is a tech startup that creates location-data software. announced a strategic partnership with Outliers Fund. This fund, a group of venture funds and joint research initiatives, will help to accelerate projects in the XYO Network. Each partner will invest USD 10m in equities or tokens to build the XYO ecosystem. This amount could reach USD 20m.
Kyro Digital , a web 3 platform, closed a USD 10m Series A and SaaS revenues from several blockchain companies as well as native crypto venture capital funds. Kyro works closely with numerous chains, marketplaces, and IP owners to make it easier for them to launch, scale, and maintain storefronts, marketplaces, and DAOs. Kyro also helps to create on-chain value via Kyro’s applications to genesis and secondary sale of all crypto assets.
Ratings agency Fitch rating has downgraded El Salvador further into junk. This was due to risks from the country’s adoption of Bitcoin (BTC) last year as legal tender, per. Fitch also stated that the country’s “higher financing risks stemming largely from an increased reliance upon short-term debt” influenced its decision not to upgrade its rating from B- to CCC. This was in addition to a USD 800m global bond repayment due next January.
Sport news
Manchester United has announced that they have a multiyear partnership with blockchain platform Tezos (XTZ). This confirms a previous report. The first-team squad will wear a Tezos-branded kit of training before the match against Southampton.
Washington Nationals Baseball team stated that it will “explore” in-stadium payments for the TerreUSD (UST) stabilitycoin as part a nearly USD 40m sponsorship deal with Terra. The ballpark’s VIP lounge at home plate will be called “The Terra Club” for five years and will feature crypto branding.
Banking news
Wyoming’s crypto bank Avantinow is now equipped with a routing code issued by the American Bankers Association. This number allows the bank to move one step closer towards acquiring a master bank account with the Federal Reserve, the US central bank. Routing numbers can be used to identify banks and to make transactions. They are only available to Federal or State-chartered financial institutions who are also eligible for a Fed account.
CBDC news
Bloomberg reported that Zambia is currently exploring a central bank digital currency ( CBDC). It expects to finish its research later in the year. The Bank of Zambia aims to reduce transaction costs and increase citizen participation in formal financial systems.
The Kenyan central bank invited the public to give their views on possible introduction of a digital currency, per Reuters. The bank stated that a digital currency could reduce the effectiveness of monetary policies and increase the risk of money laundering. However, it also said that it could have some benefits, including lowering cross-border payments costs.
NFT news
The World Wide Fund for Nature, an international non-governmental organisation, quietly withdrew a number of NFTs it had planned to sell in order to raise funds for its environmental conservation work. Report The Independent. It said that the decision was made in response to criticisms about the technology’s environmental impact.
Luxury brand Gucci has announced that it purchased an undisclosed amount virtual land on the decentralized Blockchain game The Sandbox ( sAND). Gucci will launch themed experiences on The Sandbox based on its “Gucci Vault”, which sells items such as vintage bags and NFTs with Gucci themes.
Mining news
Iris Energy reported mining BTC 364 for its fiscal second quarter, which ended December 31, up 51% over the previous three months. Their revenue of USD20m was an increase of 93% over the previous quarter. Additionally, their adjusted earnings before interest taxes and depreciation (EBITDA), of USD 14.3m, was more than 156% higher than three months earlier.
CleanSpark is looking at strategic options for its legacy energy business. They have 20,900 machines that are currently in operation and produce approximately 10 bitcoins per day. In the first quarter, the company generated USD 14.5m in net income and USD 24.1m in Adjusted EBITDA. This represents net margins of roughly 35% and 58% respectively.
News from the Exchanges
has announced the signing of an Memorandum of Understanding for a strategic partnership (MoU). The MoU was to establish a global Play to earn (P2E Ecosystem) and NFT offering. Through the BSC Application Side Chain, the two teams will contribute to the infrastructure for the Binance Smart Chain ( BSC).
Crypto.com, the official title partner for the Miami Grand Prix (the newest race on the Formula 1 calendar), has signed a nine year deal. Crypto.com’s logo and winner’s trophies will be featured on the podium. The exchange’s brand will also be displayed on the Crypto.com Terrace with views of the track and an exclusive observation deck at its fourth turn.
Trading app Robinhood is shifting its attention to international growth, which will also see the San Francisco-based firm shift its focus on cryptoassets. Steve Quirk, the chief brokerage officer of the company , told CNBC. Quirk stated that crypto is the best way for Robinhood to grow internationally and gain the most traction.
Career news
Financial app is hiring senior developers to develop blockchain technology for the startup. The company specifies that the candidates must be familiar with Solidity, the programming language used to create smart contracts.
Layer-1 blockchain Concordium announced Kare Kjelstrom’s onboarding in a new position as Group Chief Technology Officer and CPO, with overall responsibility for Product and Technology. The company has listed the native CCD token it uses on crypto exchanges bitfinex, and bitGlobal.
The Algorand Foundation (the organization behind Algorand), announced that Staci Warden has been appointed its Chief Executive Officer. According to the press release, Warden was responsible for leading global teams at JPMorgan, Milken Institute, the Nasdaq Stock Exchange and the US Treasury Department. It added that Sean Lee, after 18 months of critical work as CEO, has decided to start the new year by exploring other career options outside the Algorand Foundation.
Regulation news
Chris Sununu, New Hampshire governor, USA has created a state commission to study cryptoassets and their impact. The executive order states that the commission will make findings and determine the effectiveness and role of state laws and regulations regarding cryptocurrencies and other digital assets. It will also discuss the reasons for modifications and improvements.
