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Crypto Miner Hive Cuts Computing Power Forecast for Intel Chip-Based Rigs

The Canadian firm said it would receive 5,800 machines by end-January, raking in upwards of 630 PH/s.

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Crypto Trading Firm Amber Group Ditches $25M Chelsea Sponsorship Deal Amid Layoffs: Report

Hong Kong-based cryptocurrency trading firm Amber Group is terminating a $25 million sponsorship deal with football club Chelsea FC, according to a Bloomberg report.

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UK Extends Crypto Tax Break for Investment Managers in Financial Reforms

Rishi Sunak’s government has already legislated to use stablecoins as a means of payment as he seeks to make the country a crypto hub.

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Crypto Exchange Coinbase Asks Users to Switch USDT for USDC

Coinbase highlights questions about Tether reserves in campaign to get users over to USDC.

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First Mover Asia: Tokocrypto Token Holders Benefit From Reports of Binance Acquiring the Indonesian Exchange

A Tokocrypto spokesperson would not confirm the deal, which has been widely reported by regional media. Binance is a Tokocrypto investor; bitcoin jumps back above $17K.

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Starbucks Launches Beta of Web3 'Odyssey' Loyalty Program

The

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Crypto Markets Today: Record Grayscale Bitcoin Trust Discount Widens Industry Woes

The fallout from crypto exchange FTX’s implosion continued as data showed the GBTC discount rate to bitcoin hitting a record high. Crypto Markets Today is CoinDesk’s daily newsletter diving into what happened in today's crypto markets.

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Chainlink’s First Staking Pool Pulls in $170M of LINK Tokens, Hitting Community Limit After 2 Days

Staking started Tuesday, and 24.27 million LINK tokens were locked in by Thursday to secure the network.

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SEC Tells US-Listed Companies They’d Better Disclose Crypto Damage

The U.S. Securities and Exchange Commission issued letters to companies flagging the need to disclose any potential impacts from mayhem in the crypto markets.

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Former White House Adviser: Biden's Executive Order on Crypto Is 'Balanced' but ‘Gaps’ Remain

Carole House, co-author of President Biden’s executive order on crypto, discusses why the framework is “balanced” in mitigating risks but still has existing gaps.

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US Lawmakers Want Environmental Agency to Study Crypto Mining's Energy Impact

U.S. Senators Ed Markey and Jeff Merkley and Rep. Jared Huff introduced a bill Thursday that would, if passed, direct the Environmental Protection Agency to study the energy usage and environmental impact of crypto mining.

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Most Underreported Trend in 2022: Crypto Is Embracing Mobile

You can have your metaverse and VR headsets, writes Boyd Cohen in this op-ed. In 10 years he predicts the masses will still be in the real world using smartphones, so if you are a crypto evangelist, jump on the mobile bandwagon.

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Did Sam Bankman-Fried Finally Admit the Obvious?

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US Watchdog Says Banks Shying Away From Stumbling Crypto Industry

U.S. banks have been cooling off on their crypto interest since this year’s twin eruptions of Terra/LUNA and FTX, said Michael Hsu, the acting chief of the Office of the Comptroller of the Currency (OCC).

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NFT Marketplace Magic Eden Pushes Further Into Gaming With New Hire

Chris Akhavan will take on the new role of Chief Gaming Officer to build the marketplace’s Web3 gaming strategy following its expansion to the Polygon network.

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Grayscale Bitcoin Trust Discount Widens to Record High Near 50%

The shares have not traded at a premium to bitcoin since March 2021

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Some Central Banks Reportedly Looking to Issue a CBDC Within 10 Years

Generally, 35% of central banks were more inclined to issue a CBDC despite recent events in crypto and none were less inclined a report by the Official Monetary and Financial Institutions showed.

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Leader of Suspected Russian Ponzi Scheme Is Arrested in UAE: Report

Edvard Sabirov's arrest leaves just one of the four known leaders of Finiko at large.

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Crypto Hedge Fund BKCoin Fired Co-Founder Kang Over Misappropriated Investor Funds

An ongoing case in a Florida district court alleges Kang misused $12 million in investor assets.

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Hedge Fund Presidio Trading to Spin Out Crypto Market Tail Risk Strategy

Tail risk investment strategies look to reduce overall portfolio risk by outperforming during an unexpected downturn, but do so at the cost of lower returns in a bull market.

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Ethereum Developers Target March 2023 for Release of Staked Ether

Staked ETH withdrawals are coming in the spring of 2023, while proto-danksharding will follow in the subsequent hard fork in the fall

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FTX Bankruptcy Managers Hire Forensic Investigators AlixPartners: WSJ

The team, led by former SEC accountant Matt Jacques, is tasked with tracking billions of dollars that disappeared from FTX.

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South Korean Court Denies Injunction Against Crypto Exchanges for Delisting Metaverse Token Wemix: Report

The Wemix token is trading 90% lower than this time last month after it was delisted by several exchanges.

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2022 – Crypto Markets: A Year in Review

2022 has been a difficult year for cryptocurrency. Coming off euphoric highs from the year before, the crypto market has endured an environment of tightening monetary policy, which led to sell-offs, implosions of new projects like TerraLuna, bankruptcies of CeFi companies like Celsius and Voyager Digital and a climactic downfall of the FTX exchange.

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First Mover Americas: Mr. Bankman-Fried Must Go to Washington

The latest price moves in bitcoin (BTC) and crypto markets in context for Dec. 8, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

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EU to Make Crypto Companies Report Tax Details to Authorities

The European Commission is going a step further than its crypto law MiCA as it seeks to tackle tax evasion

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Hong Kong Amends Finance Law to Incorporate Crypto Firms

Virtual asset service providers will be covered by terror financing and anti-money laundering rules as of June next year.

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Ether Breaks Trendline From Previous Bear Cycle Lows

The breakdown of the ascending trendline corresponding with previous bear market lows looks horrible, one portfolio manager said.

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Kim Kardashian Wins Investor Lawsuit Over EthereumMax

A California district judge decided to dismiss the motion because the complainant was not able to supply sufficient facts.

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Centralized Crypto Exchange Bybit Integrates Decentralized Exchange ApeX Pro Onto Platform

The move had been “well under way” prior to the collapse of FTX and heightened scrutiny of centralized exchanges.

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PayPal Expands Crypto Service Into Luxembourg in First EU Foray

PayPal has expanded its service for buying and selling crypto to Luxembourg in what may open the door for it to be offered in other European Union countries.

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Crypto Options Exchange Deribit Registered Record Trading Volume in November

Deribit was busier than ever as FTX-induced uncertainty boosted demand for options or hedging instruments.

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Crypto Lender Celsius' Bankruptcy Judge Orders It to Return $50M of Crypto to Custody Account Holders: Bloomberg

Celsius filed a motion in September to return crypto to customers who held assets in such accounts.

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Steve Aoki and 3LAU Launch PUNX Music Project Using CryptoPunks IP

The DJs and NFT enthusiasts are teaming up on an "audio-visual IRL-meets-metaverse supergroup."

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Senate Committee to Subpoena FTX's Sam Bankman-Fried if He Does Not Testify Voluntarily

The Senate Banking Committee is "prepared" to subpoena FTX founder Sam Bankman-Fried if he does not voluntarily appear at a committee hearing about the collapse of FTX, its leaders said Wednesday.

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First Mover Asia: Here’s What Might Happen to Sino Global’s Liquid Value Fund During FTX’s Bankruptcy Protection Proceedings

Crypto Twitter wanted to know the potential consequences of having Alameda and Sam Bankman-Fried as partners in a fund. So we asked a Hong Kong-based lawyer who specializes in asset tracing and recovery; bitcoin dips but not much.

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Crypto Markets Today: Gensler Restates SEC’s Crypto Authority

The chairman said the agency has the basic disclosure and governance requirements to hold digital-asset firms accountable, although he did not address the fallout from crypto exchange FTX’s collapse. Crypto Markets Today is CoinDesk’s daily newsletter diving into what happened in today's crypto markets.

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House Financial Services Chief Waters Not Planning to Subpoena Sam Bankman-Fried: Report

However, Waters tweeted on Wednesday evening that "lies are circulating" that she's not willing to subpoena the disgraced former head of FTX.

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Privacy-Focused Gnosis Chain to Undergo Its Own Proof-of-Stake ‘Merge’

This "Merge" will mark the second time in blockchain history that a chain swaps out its old model for proof-of-stake

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Canada’s Largest Pension Fund No Longer Mulling Crypto Investment: Reuters

CPP Investment has nearly $400 billion in assets under management.

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'Do You Believe In Second Chances?' Another DAO Is Raising Funds to Buy a Copy of the US Constitution

Inspired by ConstitutionDAO's attempt last year, the unaffiliated ConstitutionDAO2 raised $34,000 in public contributions on its first day.

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Coinbase CEO Armstrong Confirms Street Expectations for a 50%-Plus Decline in Revenue in 2022

Analysts previously estimated Coinbase’s annual revenue in 2022 to drop to roughly $3.3 billion this year.

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Gensler Says SEC Is Fine Going After Crypto With Its Current Authority

Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), isn’t waiting for new powers from Congress in order to enforce securities laws against crypto companies, though he said Wednesday that it would be good to have more money and additional reach beyond U.S. borders.

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US Sen. Cynthia Lummis: Ether Is Now a Security; My Bill Might Have Stopped FTX

The Wyoming Republican says the second-largest cryptocurrency was transformed by the Ethereum Merge.

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South Korea’s Central Bank Wants to Oversee Stablecoins

The country joins other jurisdictions in proposing standards for stablecoin issuance.

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Spain’s Central Bank Opens Call for Proposals for Wholesale CBDC Project

The proposal period will be open until January 31, 2023 for financial institutions and technology solution providers.

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Blockchain Entrepreneur Arrested in California on Fraud Charges

Rikesh Thapa is accused of bilking his start-up firm of over $1 million in U.S. currency, cryptocurrency and utility tokens.

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Be Patient: Sam Bankman-Fried Could Go to Prison for a Very, Very Long Time

The former wonder boy could be behind bars for the rest of his life, according to U.S. federal sentencing guidelines.

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Number of Brazilian Companies Transacting With Digital Assets Increased Again in October

More than 41,000 Brazilian firms conducted some form of operation with crypto assets, according to the local tax authority, Receita Federal.

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Genesis Client Letter Suggests No Imminent Solution to Withdrawal Freeze

The institutional crypto brokerage has been in talks with creditors and potential investors since the collapse of exchange FTX.

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