Threshold (T) Surges 130% in 7 Days, Coinbase Announces Listing Plans

• The cryptocurrency Threshold (T) has surged by 130% over the last 7 days and 220% over the last 30 days.
• Coinbase announced on Jan. 23 their strategy for listing the T currency, driving its price from about $0.032 to a high of $0.061 in a couple of hours.
• Coinbase’s decision to reveal its path for listing the coin was made to increase openness and reduce the chance of insiders receiving an unfair advantage due to the listing announcement.

The crypto-market has been lit up in recent days, with the digital currency Threshold (T) leading the charge. Over the past 7 days, the price of T has surged by 130%, while the token has seen an increase of 220% in the last 30 days.

The surge in price was most significant yesterday, when the currency quickly jumped more than 95%, driving its price from about $0.032 to a high of $0.061 in a matter of hours. The price has since declined slightly, but the strong momentum remains.

The surge in price was largely due to a key announcement from Coinbase, the popular cryptocurrency exchange, on Jan. 23. The exchange announced their strategy for listing the T currency, which sent the price of the currency skyrocketing.

Coinbase’s decision to reveal the path for the currency’s listing was made to ensure fairness and openness for all traders. By announcing their plans for the currency, Coinbase removed the chance of insiders receiving an unfair advantage due to the listing announcement.

While Coinbase’s decision to list the currency is certainly positive news for investors, it is important to remember that inclusion on Coinbase’s listing roadmap does not guarantee that the exchange will list the coin in question. The currency must first go through Coinbase’s approval process before it is officially listed on the exchange.

Overall, the listing of Threshold on Coinbase is great news for the cryptocurrency market and investors in the currency. The surge in price over the past 7 days is a testament to the enthusiasm investors have for the potential of the currency, and will likely continue as Coinbase’s listing process progresses.

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2023 Blockchain Trends: Institutional Adoption, Layer 1 Protocols, and Regulation

• Binance released a report that identified key trends emerging in the blockchain space for 2023 while providing a brief overview of 2022.
• Layer 1 protocols, such as Ethereum, completed major updates such as the move from PoW to PoS in September 2022.
• The year 2022 saw increased institutional adoption of cryptocurrencies and the emergence of new technologies such as blockchain-as-a-service, decentralized finance, and stablecoins.

The year 2022 was a tumultuous one for global markets due to the ongoing Russia-Ukraine war, inflation fears, falling capital markets, and persistent macroeconomic trepidations. As a consequence, central banks around the world began to increase interest rates to curb inflation and reduce the pace of economic growth. This macroeconomic pressure had a significant effect on established asset classes as well as emergent asset classes, including cryptocurrencies.

In order to gain a better understanding of the trends that will shape the blockchain industry in 2023, Binance Research, the research arm of cryptocurrency exchange Binance, released a report at the start of the year providing an overview of the key developments that occurred in the blockchain space throughout the course of 2022.

One of the major developments of the year was the advancement of Layer 1 protocols. Layer 1 refers to the foundational architecture of the blockchain, and Layer 1 protocols, also known as “the mainnet,” have distinct features such as the capacity to execute and finalize transactions on its own chain. Ethereum, one of the most popular layer 1 protocols, completed “The Merge” in September 2022 – the move from proof-of-work (PoW) to proof-of-stake (PoS).

The year 2022 also saw increased institutional adoption of cryptocurrencies, with major financial institutions such as JPMorgan and Fidelity investing heavily in the space. Furthermore, the emergence of new technologies such as blockchain-as-a-service, decentralized finance, and stablecoins enabled the development and adoption of new crypto services and solutions.

The report issued by Binance Research also highlighted the need for better regulations and oversight of the crypto industry. Despite the progress made in the past year, the global crypto regulatory landscape is still in its infancy, and there is still room for improvement. In particular, the report noted that global regulations should be harmonized in order to promote innovation and protect investors.

The report issued by Binance Research will be used as a guide for the blockchain industry as it moves into 2023. The events of the past year have laid the groundwork for increased crypto adoption, better regulations, and foresight. With the proper measures in place, the blockchain industry is likely to continue to grow and mature in the coming year.

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Bitcoiners Slam Peter Zeihan’s Ignorant Pessimism

• Peter Zeihan was heavily criticized by the Bitcoin community after making negative comments about Bitcoin on the Joe Rogan Experience.
• He referred to Bitcoin as a “hot dumpster fire” with no intrinsic value and predicted that it would continue to plummet till it reaches zero.
• The Bitcoin community reacted strongly to Zeihan’s comments, labeling him as an ignorant pessimist who does not understand the fundamentals of Bitcoin and blockchain technology.

On the Joe Rogan Experience Podcast, Peter Zeihan, a geopolitical strategist and author, made comments that were heavily criticized by the Bitcoin community. Zeihan, who has a strong opinion on global economics, labeled Bitcoin as a “hot dumpster fire” with no intrinsic value and predicted that it would continue to plummet till it reaches zero.

The Bitcoin community was quick to respond to Zeihan’s comments, and many users took to social media to express their anger and disappointment. They accused Zeihan of not understanding the fundamentals of Bitcoin and blockchain technology, and labeled his comments as those of an ignorant pessimist.

The criticism from the Bitcoin community was mainly centered around Zeihan’s views on the maximum supply of Bitcoin. He argued that the maximum supply of 21 million BTC would inhibit the expansion of the cryptocurrency’s utility and lead to economic turmoil caused by monetary inflation. However, Bitcoiners have pointed out that this is a common misconception, as the maximum supply of Bitcoin was implemented to ensure its value remains stable and to prevent it from being subject to inflation.

The criticism of Zeihan also extended to his views on the cryptocurrency industry as a whole. He argued that the industry is an “ideology” that makes no economic sense, but Bitcoiners refuted this by pointing out that the industry has already had a major impact on the global economy.

Overall, the Bitcoin community was quick to respond to Zeihan’s comments, and many users expressed their anger and disappointment in his views. They argued that his views on the maximum supply of Bitcoin and the cryptocurrency industry as a whole were uninformed, and that his comments were those of an ignorant pessimist.

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SBF Acquires 2M Raydium, Ignores Whitepaper Lockdown Guidelines

• Sam Bankman-Fried reportedly received 2 million worth of raydium on January 2, 2023.
• According to reports, the whitepaper indicated that investor and team tokens should be locked for 1-3 years, but SBF sold 80k and sent 1 million raydium to FTX.
• In December, raydium was the victim of a liquidity pool exploit and $2 million in financing was used to restore it.

On January 2, 2023, reports emerged that former CEO and founder of crypto exchange FTX, Sam Bankman-Fried, acquired 2 million worth of raydium. This news was confirmed by Conor, director at Coinbase, with a Tweet stating that SBF’s wallet held 2 million raydium prior to announcing listing and perpetual futures on FTX. The whitepaper indicated that investor and team tokens should be locked for 1-3 years, but SBF sold 80k and sent 1 million raydium to FTX.

Raydium had a distribution of 555,000,000 million supply, 34% mining reserve, and 30% partnership and ecosystem. 20% was locked for 1-3 years, 6% was reserved for advisors (locked for 1-3 years), and 1% was allocated to liquidity pool. SBF was accused of withdrawing the remainder of raydium from the liquidity pools at the very top, netting a few million in ETH.

In December, raydium reported being a victim of a liquidity pool exploit. To restore it, $2 million in financing was used by its parent company, Raydium Foundation. SBF worked hard with regulators to protect consumers and make sure all of the occasions were legal.

Overall, the news of SBF’s acquisition of raydium sparked controversy due to the whitepaper’s indications that investor and team tokens should be locked for 1-3 years. This was clearly not followed and SBF’s actions may have violated regulations. Despite this, raydium was able to recover from the liquidity pool exploit and continues to be a successful project.

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Vitalik Buterin’s Exchange Deposits Reveal Crypto’s Centralization Problem

• Analysis shows that Ethereum co-founder Vitalik Buterin almost exclusively deposits to Coinbase, sending orders of magnitude less to other crypto exchanges.
• On-chain data based on his known addresses shows that his holdings are currently worth just short of $326 million, with $322 million worth in Ethereum.
• Buterin raised the issue of centralization in the crypto space, pointing out that decentralization is crucial.

Vitalik Buterin, the co-founder of Ethereum (ETH), is one of the most influential figures in the crypto-space. His opinion holds significant weight and his views are closely followed by many in the industry. Recently, analysis by Arkham Intelligence has revealed that Vitalik Buterin almost exclusively deposits to Coinbase when making transactions. Of the $1.08 billion made in exchange deposits from Buterin’s known addresses since late 2015, an overwhelming majority of $1.06 billion was directed to Coinbase.

This figure is not to be confused with Buterin’s current exchange balance, which is calculated by subtracting withdrawals from deposits. On-chain data based on his known addresses shows that his holdings are currently worth just short of $326 million, with $322 million worth in Ethereum.

The fact that Buterin is relying heavily on centralized exchanges may seem at odds with his earlier statement that these exchanges should “go burn in hell”. However, the convenience of fiat currency on and off ramping may have led to centralized exchanges becoming a necessary evil.

Buterin has been vocal about the issue of centralization in the crypto-space, and how many are forgetting that decentralization is crucial. He pointed out that in 2013 Bitcoin (BTC) mining pool GHash ended up operating 51% of the coin’s hashrate, and everybody “freaked out”. This same issue arose again when Bitmain’s mining pool had a significant proportion of the network’s hashrate, yet many in the industry were not as vocal about it.

Centralized exchanges have long been a necessary element of the crypto-space, providing a convenient means for users to buy and sell digital assets. However, their role must be balanced with the need for decentralization, and it is important that users remain aware of this. Vitalik Buterin’s use of Coinbase is a reminder of this need for balance, and also highlights the convenience these exchanges provide.

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Crypto Market Slashed by $2T: Major Losses Amid Major Lies

• 2022 was a catastrophic year in the crypto industry, with all crypto projects losing value and some organizations filing for bankruptcy.
• Major lies were uncovered in the crypto space, including FTX collapse, Celsius Network manipulation, Three Arrows Capital fraud, and Terra Luna Ecosystem insolvency.
• The crypto market has slashed by over $2T from the $3T it recorded in Nov. 2021 due to the major global financial decline and stock market shrink.

The year of 2022 has been a tumultuous one for the crypto industry. It has seen the entire crypto market lose two-thirds of its value, wiping out almost two trillion dollars in total. Many crypto projects have experienced severe losses, and some organizations have even filed for bankruptcy. This coincides with a major global financial decline, with risks of recessions in the UK and the US, as well as a major stock market shrink and pullback.

The year has also seen a number of major lies uncovered in the crypto space. In mid-November, FTX Group collapsed after it was revealed that the FTX international exchange did not have enough funds to match customers’ deposits one-to-one, leading to a series of catastrophic death spirals. Celsius Network was also discovered to be manipulating its users’ investments, and Three Arrows Capital was found to have been committing fraud. Lastly, Terra Luna Ecosystem was revealed to be insolvent, causing a massive ripple effect throughout the crypto industry.

The losses experienced this year have been immense. The crypto market has slashed by over two trillion dollars from the three trillion dollars it recorded in November of 2021. This has been a major blow to the crypto industry, and many investors have been left reeling from the effects it has had on their investments.

Despite this major crash, the crypto market has shown signs of resilience. Crypto investors have, for the most part, not given up on their investments and continue to support the industry. This resilience could be a sign of a brighter future for the crypto market and may indicate that it will eventually recover from its current slump. Only time will tell if this will be the case, but for now, the outlook of the crypto industry remains uncertain.

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Hong Kong Financial Sector Prepares for Digital Asset Trading Boom

• Financial services companies in Hong Kong are preparing to provide retail clients with the ability to trade digital assets in the upcoming months.
• The Legislative Council approved an amendment to the anti-money laundering and counter-terrorist financing act which will place virtual-asset service providers under the jurisdiction of the Securities and Futures Commission (SFC).
• Brokers such as Victory Securities and Interactive Brokers are not required to hold additional licenses to provide their clients with trading services for exchange-traded funds based on bitcoin and ether listed on the Hong Kong Stock Exchange.

In recent months, the financial services industry in Hong Kong has been preparing to open up trading of digital assets to retail investors. This is due to an amendment to the anti-money laundering and counter-terrorist financing act which will place virtual-asset service providers under the jurisdiction of the Securities and Futures Commission (SFC). This amendment was approved by the Legislative Council and is set to come into effect on June 2023.

Currently, only professional investors or those with at least HK$8 million (US$1.03 million) in bankable assets are allowed to trade in virtual assets. However, this amendment will open up the opportunity for more retail investors to benefit from the exploding demand for virtual assets. This move marks a major step in Hong Kong’s ambition to strengthen its position as a regional hub for financial technology.

Brokers and fund managers are gearing up to take advantage of this new opportunity. For example, Victory Securities and Interactive Brokers are not required to hold additional licenses to provide their clients with trading services for exchange-traded funds based on bitcoin and ether listed on the Hong Kong Stock Exchange. Many other financial services firms are also setting up their operations in order to offer their services to the growing number of retail investors interested in trading digital assets.

The SFC is set to release a consultation paper on how to best open up trading in virtual assets to retail investors. This paper will provide guidance on the regulatory requirements that must be met in order to ensure the safety and soundness of the market. As such, it is expected to provide a comprehensive framework for local financial services firms to operate in the industry.

The amendment to the anti-money laundering and counter-terrorist financing act is a major step forward for the industry in Hong Kong. It will open up the possibility for more retail investors to benefit from the growing demand for virtual assets. Brokers and fund managers are already preparing for trading in virtual assets, and the SFC will soon release a consultation paper that will provide further guidance on the regulatory requirements. With this guidance, the industry can now move forward with confidence and look forward to a bright future for digital asset trading in Hong Kong.

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Bitcoin Long-Term Holders Unfazed by Volatility as Supply Hits ATH

• Bitcoin (BTC) long-term holders are not afraid of the current volatility, as evidenced by the amount of bitcoin supply last active over 10 years ago reaching an all-time high of 2,594,574.300 BTC.
• The number of bitcoin addresses holding at least 100 BTC and 1 BTC also reached their respective all-time highs of 16,133 and 978,000.
• This indicates that interest in bitcoin has not been critically damaged despite the recent market downturn, despite the distrust in centralized crypto service providers.

The recent volatility in the cryptocurrency market has caused investors to question the safety of their investments, but data indicates that Bitcoin long-term holders have not lost their grip on the market. Blockchain analytics service Glassnode has revealed that the amount of bitcoin supply last active over ten years ago has reached an all-time high of 2,594,574.300 BTC on December 30th, indicating that investors are continuing to accumulate Bitcoin despite the current market conditions.

This is further evidenced by the fact that the number of Bitcoin addresses holding at least 100 BTC and 1 BTC reached their respective all-time highs of 16,133 and 978,000. This suggests that interest in Bitcoin is still strong despite the recent market downturn, and that investors are continuing to accumulate Bitcoin even in the face of the current market volatility.

The data also suggests that investors are continuing to move away from centralized exchanges, and are instead favoring more reliable forms of storage for their Bitcoin. This is likely due to the distrust in centralized crypto service providers, a distrust that was further heightened after the fall of major crypto exchange FTX. Glassnode’s data shows that over the past 24 hours, $29.1 million worth of Bitcoin has left cryptocurrency exchanges alongside $56.4 million worth of Ethereum (ETH).

This exodus of Bitcoin from centralized exchanges is further evidence of the increasing trust in non-custodial forms of storage, such as cold wallets and hardware wallets. The continued accumulation of Bitcoin by long-term holders and the increasing distrust of centralized exchanges suggests that investors remain confident in the long-term potential of Bitcoin, despite the current market uncertainty.

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Securities Commission of Bahamas Holds $3.5B in FTX Client Assets

Bulletpoints:
• The Securities Commission of the Bahamas is temporarily holding more than $3.5 billion in FTX client assets.
• The assets were given to the commission on Nov.12, following FTX and its affiliates filing for bankruptcy in the US.
• The commission found a considerable risk of impending dissipation regarding the digital assets, which led it to seek and receive a court injunction to protect them.

The Bahamas Securities Commission has revealed that it is currently holding more than $3.5 billion in FTX client assets in an effort to ensure their safekeeping and protection. This comes after the crypto exchange FTX and its affiliates filed for bankruptcy in the United States earlier this year.

The commission first became aware of a potential risk associated with the digital assets held by FTXDM when it was notified of a cyberattack that took place on the exchange earlier this year. The attack resulted in the theft of at least $372 million worth of crypto. In light of this incident, the commission deemed it necessary to take measures to protect the assets held by FTXDM, and sought and received a court injunction to do so.

The Bahamas Securities Commission is currently in the process of temporarily holding the FTX client assets until the Bahamas Supreme Court issues an order to return the funds to customers and creditors, or to the liquidation administrator. This is being done in order to ensure the safekeeping of the digital assets and to prevent any potential dissipation that could be detrimental to FTXDM’s clients and creditors.

In addition to holding the client assets, the commission is also in the process of conducting a full investigation into the events that led to the cyberattack and subsequent bankruptcy filing. The commission is also working to ensure that all FTX customers receive the funds that are due to them, and that the necessary steps are taken to secure the digital assets for the future.

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Crypto ATM Adoption Surges Globally as 38,597 Installations are Recorded

• The total number of global bitcoin and crypto ATMs has increased to 38,597 as of Dec.30, a significant increase from the 32,627 crypto ATM installations recorded last year.
• The United States occupies the frontline of bitcoin ATM adoption, with 33,549 crypto ATMs in the region.
• Canada, Europe, Spain, Poland, Australia, and Switzerland have 2,559, 1,502, 226, 150, 218, and 145 crypto ATMs, respectively.

The number of bitcoin (BTC) and crypto ATMs installed globally is on the rise, despite the current bear market and lack of regulatory clarity in the Web3 space. According to Coin ATM Radar, the total number of crypto ATMs installed globally has reached 38,597 as of Dec.30, which is a significant increase from the 32,627 crypto ATM installations recorded last year.

The United States is leading the way in terms of bitcoin ATM adoption, with 33,549 crypto ATMs in the region. Canada is close behind with 2,559 crypto ATMs, and Europe boasts 1,502. Other jurisdictions, including Spain, Poland, Australia, and Switzerland, have 226, 150, 218, and 145 crypto ATMs, respectively.

The rising number of crypto ATMs is a sign of increasing adoption of cryptocurrencies and blockchain technology, despite the ongoing bear market and lack of regulatory clarity. While this is a positive development for the industry, it has also led to some regulatory issues in certain jurisdictions, as crypto ATMs are sometimes used by bad actors.

In response to this issue, many governments and regulatory bodies have taken steps to ensure that crypto ATMs are used responsibly. For example, the UK’s Financial Conduct Authority (FCA) has warned that crypto ATMs may be used by criminals to launder money and has put in place strict guidelines to ensure that crypto ATMs are used responsibly.

The increasing adoption of crypto ATMs is a sign that cryptocurrencies and blockchain technology are becoming increasingly accepted in the mainstream. Despite the current bear market, the industry is still making strides and it will be interesting to see how the number of crypto ATMs continues to grow in the coming years.

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