High tales of this week
The FTX collectors listing exhibits airways, charities and tech corporations hit by the collapse
BlockFi's uncensored financials reportedly show $1.2 billion in FTX exposure
Bankrupt crypto lending firm BlockFi has accidentally uploaded uncensored financials, revealing $1.2 billion in assets linked to bankrupt exchange FTX and defunct trading firm Alameda Research. The unredacted filings show that as of Jan. 14, BlockFi had $415.9 million in assets in FTX and a whopping $831.3 million in loans to Alameda. BlockFi filed for Chapter 11 bankruptcy on Nov. 28, citing the collapse of FTX just weeks earlier as the cause of its financial woes.
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The new "Celsius token" can be used to repay creditors
Bankrupt crypto lending company Celsius may issue its own token to repay creditors. In a court hearing, Celsius attorney Ross M. Kwasteniet said the company was negotiating with its creditors to see how the platform could be restarted and properly repaid. If approved by creditors and the court, the relaunched version would be "a publicly traded company that is properly licensed," which is expected to make more money for creditors than simply liquidating the company.
Binance incorrectly holds token collateral and user funds in the same wallet
Genesis creditors file securities lawsuit against Barry Silbert and DCG
Winner and Loser
Bitcoin at the end of the week (Bitcoin) is at $23,129ether (ETH) at $1,600 and XRP at $0.41. The total market capitalization is at $1.06 Trillion, according to to CoinMarketCap.
Among the many prime 100 cryptocurrencies, the highest three altcoin gainers of the week are Threshold (T) at 115.05%, Aptos (SUITABLE) at 86.22% and dYdX (DYDX) at 64.91%.
The highest three altcoin losers of the week are Hedera (HBAR) at -7.72%, decentralized (MANA) at -7.71% and producers (MKR) at -5.77%.
For extra info on crypto costs, see Cointelegraph's Market Evaluation.
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Easy and peculiar: That is the best way the Metaverse is correct now
Most Memorable Quotes
"Utilizing blockchain know-how, we will make medical advances so highly effective and simple that current programs haven't any selection however to vary."
Keith ComitoCo-Founder and President of Lifespan.io
"It is nonetheless very early days, however we proceed to imagine that stablecoins and central financial institution digital currencies have the potential to play a significant position in funds, and we now have quite a lot of initiatives underway."
Alfred F. KellyCEO of Visa
"Historically, folks have turned to centralized intermediaries or governments to unravel this downside, however applied sciences like cryptography, blockchain, and zero-knowledge proofs provide new options."
Hester PeirceCommissioner of the US Securities and Alternate Fee
"We've noticed that establishments and firms are extra open than ever to partnering with blockchain corporations to enhance their companies."
Jackets by Paul VeradiCommon Associate at Pantera Capital
"We're seeing the implications of the SEC's priorities enjoying out in actual time - on the expense of U.S. buyers."
Michael SonnensteinCEO of Grayscale Investments
“Different cash or different tokens are basically used as a retailer of worth for funding and hypothesis. [There is a] good argument that they need to be handled like a monetary product.”
Stephen JonesDeputy Treasurer and Minister for Monetary Providers of the Australian Parliament
forecast of the week
Bitcoin Will Hit $200,000 Earlier than Hitting $70,000 Bear Market In Subsequent Cycle – Prediction
After two weeks of rallying, Bitcoin's worth has been largely flat for the previous few days, displaying that market contributors aren't unduly involved forward of subsequent week's scheduled financial coverage choices from the US Federal Reserve, European Central Financial institution and Financial institution of England.
For a lot of, BTC worth motion continues to be tied to Bitcoin’s four-year halving cycles. The ensuing worth sample options an “all-time excessive” each fourth 12 months, adopted by 2025. In line with pseudonymous analyst Dealer Tardigrade, aka Alan, Bitcoin’s block subsidy halving will happen a 12 months earlier, and from there the trail turns into gargantuan $200,000 to be open.
“The well-formed #Bitcoin construction with stochastic conduct signifies that the subsequent ATH can be 200,000 and the subsequent flooring can be 70,000,” Alan predicted.
FUD of the week
Mango Markets is suing Avraham Eisenberg for $47 million in damages plus interest
Argo Blockchain accused of misleading investors in a class action lawsuit
The US Department of Justice seizes the website of prolific ransomware gang Hive
International law enforcement groups have dismantled the notorious Hive cryptocurrency ransomware gang, recovered over 1,300 decryption keys for victims since July 2022, and prevented $130 million in ransomware payments. Hive was behind a number of notorious ransomware incidents, such as the cyberattack on Costa Rica's Public Health Service and Social Security Fund that took place in April-May 2022.
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editorial staff
Cointelegraph Magazine writers and reporters contributed to this article.