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Biweekly crypto round-up for December 2022 (Part 1)

Disgraced FTX founder Sam Bankman-Fried has been arrested in the Bahamas. But all eyes are now on Binance.

LATEST: Binance CEO Changpeng “CZ” Zhao has warned his staff to expect turbulent times ahead as the exchange faces mass withdrawals and intense manipulation rumors. Whether it’s fact or FUD, it definitely spells trouble for the crypto space.

Quick take

  • The UK pushes ahead with plans to transform the country into a global crypto hub by including digital assets in its financial services reform package.
  • Binance acquires Sakura Exchange BitCoin (SEBC).
  • Tron’s Justin Sun deploys capital to re-establish USDD’s $1 peg.
  • Over $3 billion worth of crypto were withdrawn from Binance in 24 hours amid rumors of alleged problems.
  • Animoca Brands to launch a billion-dollar fund to support metaverse-focused startups.
  • FTX founder Sam Bankman-Fried arrested in Bahamas.

Key events

We’ve hand-picked some of the most relevant emerging stories in the crypto space to help you stay ahead of the curve.
UK Crypto Hub

Government announcements and regulations

  • 1 Dec: CFTC commissioner proposed two-tier crypto regulatory system for retail investors and high-net-worth individuals.
  • 1 Dec: TP ICAP, the world’s largest interdealer-broker, obtains UK crypto license.
  • 1 Dec: Italy plans to impose a 26% tax on capital gains from crypto trading.
  • 2 Dec: Several US politicians are returning donations they’ve received from disgraced FTX founder Sam Bankman-Fried.
  • 2 Dec: Ukraine collaborates with international consultants such as Ernst&Young and the USAID to update its crypto framework.
  • 5 Dec: Pakistan signed new laws to ensure the timely issuance of a CBDC by 2025.
  • 8 Dec: Spain’s central bank intends to test wholesale central bank digital currencies (CDBCs) and is seeking collaboration proposals from financial institutions and tech providers.
  • 9 Dec: The UK push for more investment in crypto businesses by including digital assets in financial services reform package.
  • 13 Dec: Canada to ban crypto firms from offering margin or leveraged trading to citizens.
  • 14 Dec: Australia to introduce a new crypto licensing regime in 2023 to modernize the country’s financial system.

NFTs, GameFi and metaverses

  • 2 Dec: Magic Eden releases a Solana NFT tool that allows creators to enforce royalties on their collections.
  • 2 Dec: Apple forces Coinbase Wallet iOS to disable its NFT transfer feature.
  • 2 Dec: Animoca Brands plans to launch a billion-dollar fund to support metaverse-focused startups.
  • 3 Dec: Coinbase pauses production for Bored Ape Yacht Club NFT short film trilogy.
  • 5 Dec: TIMEX unveiled a line of 500 one-of-one Bored Ape watches and matching NFTs.
  • 5 Dec: A Chinese court in Hangzhou ruled NFTs as virtual properties protected by law.
  • 7 Dec: Warner Music Group to release music NFTs through LGND, an upcoming Polygon-based marketplace.
  • 7 Dec: DJs Steve Aoki and 3LAU collaborate to form a supergroup via their CryptoPunks NFTs and will release new music under the name PUNX.
  • 8 Dec: Japanese financial group Sumitomo Mitsui partners with digital asset firm HashPort to explore the practical uses of soulbound tokens (SBTs).
  • 10 Dec: Starbucks Odyssey, the coffee chain’s Polygon-based rewards platform sees ‘unprecedented interest’ and is now open to an initial group of beta testers.
TON Network


  • 1 Dec: Binance reenters the Japanese crypto market with Sakura Exchange BitCoin (SEBC) acquisition.
  • 1 Dec: BlackRock CEO Larry Fink reveals that the asset management titan invested $24 million in FTX before the exchange collapsed.
  • 1 Dec: The stewards of TON network sets up a $126 million “rescue fund” to support projects affected by FTX fallout while enticing them to migrate to its ecosystem.
  • 1 Dec: Broker-Dealer INX joins Binance in submitting a non-binding letter of intent to purchase distressed assets from Voyager.
  • 1 Dec: Web3 content delivery network Fleek obtained $25 million in a Series A funding round led by crypto-focused VC firm Polychain Capital.
  • 2 Dec: Galaxy Digital has won the bid to acquire GK8, a self-custody crypto firm in Celsius’ bankruptcy auction.
  • 2 Dec: Crypto exchange Zipmex has secured creditor protection extension till April 2023 as it proceeds with a $100 million buyout offer from Thai VC fund V Ventures.
  • 5 Dec: Aave Companies acquires social metaverse developer Sonar and plans to integrate its Lens social media protocol into the gaming app.
  • 7 Dec: pledges $100 million for an industry liquidity support fund to revive crypto and restore investor confidence.
  • 8 Dec: Pplpleasr’s blockchain-based film platform, Shibuya, raises $6.9 million to build the ‘A24 of Web3’.
  • 12 Dec: Crypto insurance firm Evertas raised $14 million in a Series A funding round despite the bear market.
Sam Bankman-Fried arrest

Defaults, exploits and lawsuits

  • 1 Dec: ‘Head trader’ from fraudulent crypto platform EmpiresX to face 4 years of prison over $100 million crypto Ponzi scheme.
  • 2 Dec: The High Court of the Republic of Singapore has ordered defunct crypto hedge fund Three Arrows Capital and its co-founders to submit key financial documents within a week.
  • 2 Dec: Binance halted withdrawals amid a $5 million hack on Ankr. The DeFi Protocol has also announced that impacted users will be reimbursed.
  • 2 Dec: Korean prosecutors seek the arrest of Terra Co-Founder Daniel Shin and seven other associates over $105 million LUNA sale.
  • 3 Dec: Three Arrows liquidators seized $35.6 million in cash and now seek clearance from a court to retrieve $30 million from the sale of the firm’s superyacht.
  • 4 Dec: Troubled crypto broker Genesis and its parent company Digital Currency Group (DCG) owe users of Gemini Earn $900 million.
  • 5 Dec: Orthogonal Trading receives default notice for the $36 million of loans owed to Maple Finance.
  • 8 Dec: Bankruptcy judge orders Celsius to return $44 million worth of crypto held in custodial accounts to its customers.
  • 8 Dec: A proposed class action lawsuit against the founders of the cryptocurrency EthereumMax and its celebrity endorsers including Kim Kardashian and Floyd Mayweather Jr dismissed.
  • 10 Dec: A class action lawsuit alleges Yuga Labs conspired with a long list of celebs including Justin Bieber, Madonna, Steph Curry, and Paris Hilton to shill Bored Ape NFTs.
  • 13 Dec: Chinese authorities arrest 63 people involved in a $1.7 billion crypto laundering scheme.
  • 13 Dec: FTX founder Sam Bankman-Fried arrested in the Bahamas and faces eight criminal charges.

Digital banks and exchanges

  • 1 Dec: Kraken cuts 30% of its staff amid crypto winter.
  • 2 Dec: KuCoin faces scrutiny for offering shockingly high yields on its Earn product.
  • 2 Dec: Australian stock exchange lays off 200 contractors as it shutters its seven-year-long blockchain project, CHESS.
  • 5 Dec: Australian crypto exchange Swyftx to axe 35% of its workforce, citing dim sector outlook.
  • 6 Dec: Crypto lender Nexo will gradually phase out its products and services in the US after hitting ‘dead end’ with regulators.
  • 7 Dec: Binance US eliminates trading fees for Ethereum spot market pairs.
  • 8 Dec: Centralized crypto exchange Bybit integrates decentralized exchange ApeX Pro onto its platform to give users the option to trade on both types of exchanges in a single platform.
  • 9 Dec: Coinbase announces fee-free conversion from USDT to USDC.
  • 14 Dec: Binance faces over $3 billion in withdrawals within 24 hours amid rumors of alleged problems.

Blockchain and tokens

  • 1 Dec: Blockchain protocol Komodo debuts AtomicDEX Web, a three-in-one offering that features a wallet, cross-chain bridge and decentralized exchange (DEX).
  • 3 Dec: Avalanche partners with Alibaba Cloud to power infrastructure services in Asia.
  • 5 Dec: USDC issuer Circle calls off public listing plans.
  • 8 Dec: Ethereum developers target March 2023 for Shanghai hard fork, which will enable users to withdraw their staked ETH and applicable rewards after the upgrade goes live.
  • 12 Dec: Tron‘s Justin Sun injects roughly $773,000 capital to re-establish USDD’s $1 peg.
  • 14 Dec: Algorand selected as the public blockchain to support digital guarantees platform in Italy.

Images: Getty Images

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Cryptocurrency exchanges in Hong Kong

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