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The Block Fully Owned by SBF? Crypto Titans in Twitter Spat; Staked ETH to Release Soon | Cointime Weekly Dec.04 – Dec.10

Top stories

The Block Fully Owned by SBF? CEO Resigned

Michael McCaffrey, CEO of crypto media site The Block, has resigned after his personal loan from Alameda comes to light. He received three loans for a total of $43 million from 2021 through this year.

3AC co-founder claimed the CEO of the Block has been bribed massively, and that the company has been de facto wholly owned by Sam Bankman-Fried for years now.

CZ v SBF: Crypto Titans in Twitter Spat

SBF wrote to Binance CEO CZ “You won. There's no need to lie, now, about the buyout.”SBF said Binance threatened to walk at the last minute if they didn't kick in an extra ~$75m.

CZ responded with, “No one won.” CZ claimed “Sam was so unhinged” when they pulled out and “threatened” to make them pay.

Staked Ethereum Is Set to Be Released in March 2023

Ethereum holders and investors who have staked their ETH on the Consensus layer deposit contract may be able to withdraw their funds by March 2023.

Tether Launches Offshore Chinese Yuan (CNH₮)

Tether launches its offshore Chinese Yuan (CNH₮) on the Tron blockchain. Bitfinex will be the first exchange to enable its users to deposit and withdraw CNH₮.

Global regulations

Japan, South Korea and UK Want to Police Stablecoins

  • Japanese financial regulator intends to police “algorithmic stablecoins.”
  • The Bank of Korea (BOK) claimed it needs the authority to monitor and supervise stablecoins.
  • The UK government is currently working on establishing a safe regulatory environment for stablecoins.

Spain, Indonesia, and UK to explore CBDCs

  • Spain’s central bank intends to begin testing wholesale CDBCs and is seeking collaboration proposals.
  • Indonesia is pushing further for its Digital Rupiah plan; the planned digital rupiah currency will be used in Metaverse.
  • UK will begin exploring CBDC in the coming weeks, a digital pound could be released by The Bank of England.

Hong Kong Introduces VASP Licensing Regime

Hong Kong passed an amendment introducing a licensing regime for virtual asset service providers. The new rules for VASPs are scheduled to commence on June 1, 2023.

Crypto weekly price action

Cryptocurrency Prices Heat Map in 7 Days, Source COIN360

Research and technology

How Merkle Trees Benefit Blockchains

Binance publishes Merkle tree-based PoR system, and Vitalik Buterin proposes Merkle tree technique for increased privacy. Do you know how blockchains can benefit from Merkle tree technique? Let’s take a deep dive.

Impressing New DeFi Protocols

When it comes to listing the most impressive DeFi projects in 2022, do you have a name you never want to forget?

State of Web3 Adoption Report

A detailed look at the current state of Web3 technologies adoption and development in the enterprise sector, despite all of the FUD you may be hearing.

Huobi 2022–2023 Annual Report

Leading crypto exchange Huobi Global in its 2022-2023 annual report predicted that the current bear cycle may soon be over, as it expects the crypto market to reach its bottom in early 2023.

Fundraising and investment

Brazil’s Nubank Announces $330M Equity Capitalization in Mexico

The investment adds to the $1 billion the company has previously invested in Mexico, makes it one of the largest foreign investors in Mexico.

Gate.io Launches $100M Industry Liquidity Support Fund

Gate.io welcomes all industry participants to join the liquidity support fund and work together to support the growth of the crypto industry.

Another DAO Is Raising Funds to Buy US Constitution

ConstitutionDAO2’s raised 27.8 ETH (around $34,000) as of Wednesday in public contributions from 120 wallets. The new auction will be held live on Dec. 13.

Bitwave Raises $15 Million Series A

The funding will help develop Bitwave Institutional, a new product targeted at enterprise customers with complex accounting needs, such as custodians and exchanges.

Viral Quotes

“You can’t just beat yourself up and say, ‘hey, it’s too late to sell.’ The truth is, it’s never too late to sell an awful position, and that’s what you have if you own these so-called digital assets.”

—  Jim Cramer, host of CNBC’s Mad Money show

“We are, many people say, going through a ‘crypto winter.’ But that may understate the case. This is looking more and more like Fimbulwinter, the endless winter that, in Norse mythology, precedes the end of the world.”

—  Paul Krugman, Nobel Prize-winning economist

“You won, @cz_binance. There's no need to lie, now, about the buyout. […] You threatened to walk at the last minute if we didn't kick in an extra ~$75m.”

— Sam Bankman-Fried, former CEO of FTX

“SBF is one of the greatest fraudsters in history, he is also a master manipulator when it comes to media and key opinion leaders.”

— CZ, CEO of Binance 

FTX Sam Bankman-Fried Binance CZ DAO stablecoin
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