Tumultuous year for cryptocurrency

โ–ถ Coinbase Website: Coinbase.com โ–ถ CEX Website: cex.io From Celsius Network to FTX and Sam Bankman-Fried, it was a difficult year for cryptocurrency. โ–ถ Coinbase Website: Coinbase.com โ–ถ CEX Website: cex.io Youtube version

Jim Cramer Expects SEC to ‘Do a Roundup’ of Uncompliant Crypto Firms โ€” Urges Investors to Get Out of Crypto Now โ€“ Regulation Bitcoin News

The host of Mad Money, Jim Cramer, says he expects the U.S. Securities and Exchange Commission (SEC) to do a roundup of crypto firms that are not compliant with regulation. Expecting the SEC โ€œto sweep everything,โ€ Cramer urges investors to โ€œget outโ€ of crypto now. Jim Cramerโ€™s Latest Crypto Warnings The host of CNBCโ€™s Mad Money show, Jim Cramer, is back with more warnings for crypto investors. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. Following a joint statement about crypto risks…

FTX asset sales challenged by U.S. Trustee: Report

Bankrupt crypto exchange FTX’s plans to sell its digital currency futures and clearinghouse LedgerX, among other businesses, were challenged by the U.S. Trustee on Jan. 7, according to Reuters. As per the filing, U.S. Trustee Andrew Vara called for an independent investigation before any sale, claiming that valuable information related to the exchange’s bankruptcy could be compromised. The document states: “The sale of potentially valuable causes of action against the Debtors’ directors, officers and employees, or any other person or entity, should not be permitted until there has been a…

Wyre Announces Modification of Withdrawal Policy, Pushing Topps to Temporarily Suspend NFT Marketplace Transactions โ€“ Bitcoin News

Following reports that the crypto payments firm Wyre was shutting down operations, CEO Ioannis Giannaros offered a contradicting story, stating that the firm was merely โ€œscaling back.โ€ Wyre has now announced that it is โ€œmodifyingโ€ its withdrawal policy, citing the crypto industry downturn and the โ€œmacroeconomic climateโ€ as factors that have affected the company. On Friday, Wyre stated that it is now โ€œexploring strategic options.โ€ Crypto Industry Turmoil: Wyre Modifies Withdrawal Policy, Topps Suspends NFT Marketplace Transactions Three days ago on Jan. 4, Bitcoin.com News reported that crypto payments firm…

SBF pleads not guilty, layoffs, and bank run on Silvergate: Hodler’s Digest, Jan. 1-7

Top Stories This Week Sam Bankman-Fried enters not guilty plea for all counts in federal court Former FTX CEO Sam Bankman-Fried (has pleaded not guilty to all charges related to the collapse of the crypto exchange, including wire fraud and securities fraud. He faces eight criminal counts, which could result in 115 years in prison if convicted. Furthemore, a petition has been filed by Bankman-Friedโ€™s legal team asking a court to redact and not disclose certain information on individuals acting as sureties for his $250-million bond, alleging threats against his…

Digital Asset Exchange Giant Huobi Plans To Lay Off 20% of Its Staff Amid Ongoing Crypto Winter: Report

The Seychelles-based crypto exchange giant Huobi is reportedly planning to lay off 20% of its staff as the ongoing bear market continues to thrash companies across the industry. Reuters reports that Huobi says โ€œa very lean team will be maintained going forwardโ€ amid the crypto winter. Tron (TRX) founder Justin Sun, a member of the Huobi advisory board, tells the outlet that the workforce reduction is expected to be completed by the end of the first quarter of this year. The exchangeโ€™s planned layoffs are the latest in a series…

Sberbank Analyst’s Editorial Delves Into the ‘Tremendous Potential’ of a BRICS Reserve Currency Fueling De-Dollarization โ€“ Economics Bitcoin News

During the last month, Russiaโ€™s ruble has dropped 16.48% against the U.S. dollar as energy and commodity prices have slowed over the last few weeks. Russiaโ€™s central bank revealed two weeks ago that it is further distancing itself from U.S. dollar dependence by purchasing the Chinese yuan on foreign exchange markets. Roughly around the same time, on Dec. 21, 2022, Sberbank executive and Russian International Affairs Council (RIAC) member, Yaroslav Lissovolik, published an opinion article that talks about exploring the pathway toward a new BRICS reserve currency. Russiaโ€™s Central Bank…