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Biweekly crypto round-up for December 2022 (Part 2)
Farewell, 2022. You will not be missed.
What a year it has been for the crypto space – epic hacks, dizzying implosions and shocking lows. Whether 2023 is going to be a better year is anyone’s guess.
Here’s your final biweekly round-up for 2022.
Quick take
Binance stepped up its regulatory efforts by joining the executive committee of the US blockchain industry lobby group.
Bored Ape Yacht Club parent company Yuga Labs has appointed former Activision Blizzard COO as its new CEO.
China’s first regulated platform for NFT trading to launch on 1 January.
Disgraced FTX founder Sam Bankman-Fried (SBF) was released on a $250 million bail and ordered to home confinement at his parents’ home.
Mango Markets hacker Avraham Eisenberg was charged and arrested for market manipulation offences.
Binance.US to acquire bankrupt Voyager Digital’s assets in a $1 billion deal.
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.
Government announcements and regulations
16 Dec: New York financial regulator set crypto guidelines requiring banks to submit a business plan before engaging in cryptocurrencies.
17 Dec: Japan to exempt cryptocurrency issuers from paying corporate tax on unrealised profits.
19 Dec: Kazakhstan to implement a phased central bank digital currency (CBDC) rollout until 2025. The country will also impose a corporate tax for Bitcoin miners and restrictions on the industry’s energy consumption.
20 Dec: Central African Republic delayed its sango crypto coin listing to 2023.
22 Dec: Retiring US senator Pat Toomey introduced the Stablecoin Transparency of Reserves and Uniform Safe Transactions (TRUST) Act to legitimise the use of stablecoins in payment systems.
22 Dec: British Columbia put up an 18-month moratorium on new connection requests for Bitcoin miners.
22 Dec: Brazil’s president Jair Bolsonaro approved a new crypto regulation bill.
22 Dec: Marshall Islands legally recognised decentralised autonomous organisations (DAOs) as domestic limited liability companies (LLCs), enabling the legal entities to adopt DAO structures and governance tools.
Investments
16 Dec: Web3 infrastructure firm Blocknative secured $15 million in a series A-1 funding round to accelerate its initiatives in the block-building market in the Ethereum ecosystem.
16 Dec: Crypto trading firm Amber Group raised $300 million in a series C round to steer away from the effects of FTX’s collapse.
19 Dec: Binance finalised its acquisition of Indonesian crypto asset trader Tokocrypto.
19 Dec: Binance.US to buy bankrupt Voyager Digital’s assets for $1 billion.
19 Dec: Bitcoin-centric tools developer Foundation Devices raised $7 million in a funding round led by Polychain Capital to expand self-custody push.
19 Dec: Blockchain Axelar launched a $60 million startup for the development of decentralised applications and protocols that can replace centralised exchanges.
28 Dec: Bitcoin miner Argo Blockchain sold its flagship Helios mining facility to Galaxy Digital for $65 million.
NFTs, GameFi and metaverses
16 Dec: Former US president Donald Trump launched a collection of NFT trading cards. While the 45,000 collection was sold out at $99 apiece within a day, its value quickly tumbled 80% from its peak floor in mere days.
16 Dec: Warner Music Group collabed with digital fashion startup DressX to launch 3D/augmented reality (AR) wearables and merchandise.
19 Dec: Bored Ape creator Yuga Labs appointed former president and COO of gaming giant Activision Blizzard Daniel Alegre as new CEO.
20 Dec: Fortnite maker Epic Games slapped with a $520 million fine by the Federal Trade Commission (FTC) for tricking millions of players into making unintentional in-game purchases.
23 Dec: The United States Federal Election Commission (FEC) has approved the use of NFTs for campaign fundraising efforts.
24 Dec: NFT marketplace OpenSea confirmed ban on Cuban and other projects by digital artists from sanctioned countries.
27 Dec: Fidelity and HSBC hint plans at offering financial services in the metaverse with new trademark filings.
28 Dec: China to launch its first regulated platform for non-fungible token (NFT) trading on 1 January 2023.
Digital banks and exchanges
16 Dec: Dutch central bank issued a warning to cryptocurrency exchange KuCoin for operating without a licence in the Netherlands.
16 Dec:Crypto.com secured Payment Institution Licence (EMI) in Brazil.
21 Dec: Binance joined the Chamber of Digital Commerce, the US crypto lobbying group, in an attempt to step up its regulatory efforts.
21 Dec: Coinbase secured virtual asset service provider (VASP) registration in Ireland.
23 Dec: OKX published its second proof-of-reserve report in 2 months, revealing a 101% reserve ratio in Bitcoin and Tether and 103% in Ethereum.
27 Dec: Russia’s largest bank Sber issued gold-backed digital financial assets (DFAs).
28 Dec: Crypto exchange Kraken to cease its operations in Japan and deregister from the Financial Services Agency.
Defaults, exploits and lawsuits
16 Dec: Crypto bank Silvergate faced a class action lawsuit for alleged roles in aiding and abetting FTX and Alameda’s fraudulent activities.
16 Dec:Solana-based DeFi exchange Raydium hacked for over $2 million.
17 Dec: OneCoin co-founder Karl Sebastian Greenwood pleaded guilty to wire fraud and money laundering charges.
23 Dec: SBF was released on a $250 million bond and awaits trial at his parents’ home in Palo Alto, California.
23 Dec: Crypto exchange AAX’s 2 executives – former CEO Liang Haoming and founder Thor Chan – were arrested in Hong Kong for fraud and misleading law enforcement.
25 Dec: Decentralised leveraged trading platform Defrost Finance suffered a $12 million flash loan attack.
25 Dec: French investors sued Binance for over EUR€2.4 million in losses from alleged misleading commercial practices and fraudulent concealment.
26 Dec: Users of crypto wallet BitKeep lost millions in various cryptocurrencies in a hacking incident caused by malicious APK packages.
26 Dec: Bitcoin mining pool BTC.com fell victim to a $3 million cyberattack.
28 Dec: North Korean hacking collective Lazarus Group posed as venture capitalists to spread malware.
28 Dec: SBF filing revealed a $546 million loan from Alameda Research for the purchase of Robinhood shares.
28 Dec: The US Department of Justice arrested and charged $110 million Mango Markets hacker Avraham Eisenberg with market manipulation offences.
28 Dec: Crypto exchange Gemini and its founders faced a class action lawsuit from investors over high-yield earn products.
28 Dec: Crypto investment firm Midas winded down its business following losses this year, with over 60% of its assets under management withdrawn after the collapse of Celsius Network and FTX.
Images: Getty Images
Best cryptocurrency exchanges in Hong Kong
Check out our reviews on a range of leading cryptocurrency exchanges in Hong Kong and around the world. Compare the features, fees and pros and cons of each crypto exchange and consider how they align with your investment goals and budget.
Disclaimer:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and
involve significant risks – they are highly volatile and sensitive to secondary activity. Performance
is unpredictable and past performance is no guarantee of future performance. Consider your own
circumstances, and obtain your own advice, before relying on this information. You should also verify
the nature of any product or service (including its legal status and relevant regulatory requirements)
and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Note: All prices mentioned in this article are in US dollars (USD) unless otherwise stated.
Zyane Tan is an editor at Finder. An experienced copywriter and content creator, Zyane enjoys writing on a wide array of subjects. When she’s not busy typing away, she’s reading and musing over a pint.
Stay updated on the latest news, trends and developments in the cryptocurrency space with our biweekly crypto round-up.
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