SBF sent home, FTX heads plead guilty, and Binance gets Voyager assets: Hodler’s Digest, Dec. 18-24

Top Stories This Week

SBF sent location aft his parents enactment up their location to screen his astronomical bail bond

Sam Bankman-Fried volition walk the holidays with his household successful Palo Alto, California, aft his parents secured $250 cardinal successful bail funds with the equity successful their home. Among the conditions of the bail are location detention, determination monitoring and his passport surrender. The erstwhile FTX CEO signed surrender documents connected Dec. 20, allowing his extradition from the Bahamas to the United States, wherever helium faces 8 charges that could support him down bars for the remainder of his life. Bankman-Fried volition present hold for his condemnation astatine location with his family.

Caroline Ellison and Gary Wang plead blameworthy to fraud charges

Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang person pleaded blameworthy to national fraud charges. Ellison, however, is working connected a plea deal with the Office of the United States Attorney for the Southern District of New York, which would evade each the 7 charges against her, resulting successful a $250,000 bail enslaved and prosecution lone for transgression taxation violations. The statement doesn’t supply extortion against immoderate different charges that Ellison mightiness look from immoderate different authorities. Wang and Ellison are reportedly cooperating with U.S. authorities connected investigations related to FTX’s collapse.

Genesis and DCG question way for the betterment of assets amid liquidity issues

Global concern slope Houlihan Lokey has projected a program to resoluteness the liquidity issues astatine crypto lender Genesis and its genitor company, Digital Currency Group (DCG). The plan, devised by Houlihan connected behalf of a committee of creditors, would further supply a way for clients of crypto speech Gemini to retrieve assets owed by Genesis and DCG. Genesis level withdrawals person been suspended since Nov. 16, days aft the institution disclosed that astir $175 cardinal of its funds are stuck successful an FTX account.

Binance.US acceptable to get Voyager Digital assets for $1B

With a bid of $1.022 billion, Binance.US volition get the assets of bankrupt crypto lender Voyager Digital. The sale, however, is taxable to a creditor’s ballot and closing requirements. A proceeding volition besides beryllium held by the presiding bankruptcy tribunal to o.k. the acquisition statement connected Jan. 5, 2023. In bully faith, Binance has agreed to deposit $10 cardinal and reimburse Voyager for definite expenses up to a maximum of $15 million.

Twitter adds BTC and ETH terms indexes to hunt function

In its latest determination into the crypto space, Twitter has added terms indexes for Bitcoin and Ether to its hunt function. The caller diagnostic allows users to simply hunt for the ticker symbol, whether for a banal oregon crypto, and cheque price’s graph. Other cryptocurrencies, including Dogecoin, did not marque the list. The institution plans to grow its sum successful the coming weeks.

Winners and Losers

At the extremity of the week, Bitcoin (BTC) is astatine $16,835, Ether (ETH) astatine $1,218 and XRP astatine $0.35. The full marketplace headdress is astatine $811.38 billion, according to CoinMarketCap.

For much info connected crypto prices, marque definite to work Cointelegraph’s marketplace analysis. 

Most Memorable Quotations

“Regulation should absorption connected intermediaries (the centralized actors successful cryptocurrency), wherever further transparency and disclosure is needed.”

Brian Armstrong, CEO of Coinbase

“This is wherefore you person situations similar the Mango exploit hap wherever the exploiter volition archetypal bargain the funds and past commencement negotiating. There’s nary due inducement to report.”

Web3 developer

“If you tin marque a wallet that a cardinal radical usage — that’s a immense opportunity.”

Vitalik Buterin, co-founder of Ethereum

“Decentralization volition see blockchain arsenic a foundational element, but different technologies volition grow the imaginable successful caller ways that blockchain was ne'er designed to do.” 

Alex Page, CEO of Nillion

“Argentina is becoming a hub for bringing tech improvement and resources to Latin America from the remainder of the world.”

Ryan Dennis, senior manager astatine the Stellar Development Foundation

“The astir challenging happening for [blockchain analytics] firms moving connected this contiguous is erstwhile wealth moves disconnected concatenation and into the banking strategy due to the fact that they’re nary longer capable to way it.”

Peter Smith, founder and CEO of Blockchain.com

Prediction of the Week 

Bitcoin dips beneath $16.7K arsenic US GDP meets caller BTC terms ‘death cross’

Bitcoin prices dip beneath $16,700 astatine the extremity of the week, aft recovering immoderate crushed connected the erstwhile day.

FUD of the Week 

Crypto level Paxful removes ETH from its marketplace

Ethereum’s autochthonal token, Ether, is nary longer disposable connected Paxful, a peer-to-peer cryptocurrency exchange. Ray Youssef, CEO of Paxful, announced the determination successful a connection to the astir 11.6 cardinal users of the platform. Among the reasons to unlist the token, Youssef mentioned Ethereum’s power from a proof-of-work to proof-of-stake consensus, claiming the modulation has turned ETH into a “digital signifier of fiat.”

California regulators bid MyConstant to cease crypto-lending services

Over alleged violations of authorities securities laws, the California Department of Financial Protection and Innovation has ordered crypto lending level MyConstant to cease operating. Mentioning peer-to-peer lending services and “unlicensed indebtedness brokering,” the authorization said MyConstant offered and sold unqualified non-exempt securities.

South Korean tribunal freezes $92M successful assets related to Terra tokens

South Korean authorities continue to analyse and frost funds of the radical progressive with the Terra ecosystem. By bid of the section court, respective assets of Kernel Labs, a Terraform Labs affiliate, valued astatine $92 cardinal person been frozen. Kernel Labs CEO Kim Hyun-Joong reportedly holds the largest magnitude of amerciable proceeds from Terra. In November, assets worthy implicit $104 cardinal were besides frozen pursuing a petition from South Korean prosecutors successful the case.

Best Cointelegraph Features

What it’s really similar to usage Bitcoin successful El Salvador

Cointelegraph’s newsman Joe Hall attempted to walk 2 weeks successful El Salvador surviving connected Bitcoin. Spoiler alert, helium failed.

The Metaverse is atrocious today… but we tin marque it great: Yat Siu, Big Ideas

We walk fractional our lives connected the Internet, truthful we’re already successful an aboriginal mentation of the Metaverse. But Animoca co-founder Yat Siu tells Magazine there’s a overmuch amended mode forward.

The astir eco-friendly blockchain networks successful 2022

This twelvemonth saw the realignment of the crypto industry toward greener, much energy-efficient blockchains.