Kampf um jeden Cent

• Sam Bankman-Fried, former CEO of FTX, has denied allegations that he attempted to influence a potential witness.
• U.S. Attorney for the Southern District of New York Damian Williams has accused Bankman-Fried of contacting the FTX US General Counsel, Ryne Miller, via encrypted messaging app Signal.
• Williams stated that Miller may be a witness at trial and that Bankman-Fried attempted to influence Miller’s testimony.

Sam Bankman-Fried, the former CEO of the cryptocurrency trading platform FTX, has come under fire recently after U.S. Attorney for the Southern District of New York Damian Williams accused him of trying to influence a potential witness. In a Jan. 27 court filing, Williams suggested that Bankman-Fried had contacted the FTX US General Counsel, Ryne Miller, via encrypted messaging app Signal.

Williams noted that Miller has information that could incriminate Bankman-Fried, such as his presence at FTX around the time of the company’s collapse and his participation in online company groups. In the Jan. 15 message to Miller, Bankman-Fried wrote: “I would really love to reconnect and see if there’s a way for us to have a constructive relationship, use each other as resources when possible, or at least vet things with each other.” This statement has been interpreted by Williams as an attempt to influence Miller’s testimony.

In response to the allegations, Bankman-Fried has denied that he tried to sway the witness, saying that he was merely trying to reach out and form a constructive relationship. He also noted that he was not aware at the time that Miller may have been a potential witness.

Williams has requested that the court impose restrictions on Bankman-Fried’s communications, including the restriction of any contact with Miller. He has also requested that Bankman-Fried be prevented from discussing the case with anyone other than his attorney. The court has yet to decide on these requests.

Meanwhile, Bankman-Fried awaits the court’s decision with anticipation as the allegations have caused significant damage to his reputation. If the court decides to implement the restrictions requested by Williams, it could have serious consequences for Bankman-Fried and his future endeavors.

• Bitcoin and gold have the highest correlation in over a year, with a 93% correlation.
• Gold is approaching its all time high, and the dust from the FTX collapse has settled.
• Bitcoin is seen as digital gold due to its fundamentals of supply and demand.

Amidst the ever-changing Bitcoin ecosystem, one narrative that remains constant is the notion of Bitcoin as digital gold due to its fundamentals of supply and demand. Over the past year, this correlation has been demonstrated in the market, with Bitcoin and gold having a significant correlation throughout 2022.

Recently, this correlation has reached a one-year high of 93%, while gold is on the brink of breaking out to an all-time high. This surge may be due to the dust settling from the FTX collapse, which had nothing to do with Bitcoin other than FTX holding Bitcoin on its balance sheet. Analysts believe this correlation could represent a shift in the global economy, where Bitcoin is seen as a safe-haven asset and a viable alternative to gold.

The potential of Bitcoin as an alternative to gold is further evidenced by the market’s response to the FTX collapse. When the news broke, Bitcoin’s correlation with gold dropped significantly, highlighting its resilience and potential as a safe-haven asset. This resilience is further evidenced by the fact that Bitcoin has not been affected by the recent US-China tensions and the US election, both of which have had an impact on gold prices.

While it is possible that this correlation could be a short-term blip, it is worth noting that Bitcoin is increasingly being seen as a viable alternative to gold. With gold reaching its all-time high, Bitcoin could prove to be a more attractive option for investors who are looking for a safe-haven asset with more upside potential. As such, it will be interesting to see if this correlation continues over the coming months and years.

Bullet Points:
– Digital Currency Group (DCG) is struggling to raise funds in order to cover Genesis‘ $3 billion debt burden.
– DCG is attempting to liquidate its venture capital holdings in order to raise funds, however external funding attempts have failed so far.
– DCG has invested in a range of companies such as Coinbase, Kraken, Chainalysis, Decentraland, Circle, and Dapper Labs.

DCG, the parent company of crypto lender Genesis, is in a scramble to raise funds in order to cover the lender’s $3 billion debt burden. According to a Financial Times report on Jan. 12, citing sources familiar with the matter, Genesis owes $900 million to users of Gemini’s Earn program, over $303 million to Dutch exchange Bitvavo, as well as money to users of crypto savings firm Donut.

In an attempt to cover the debt, DCG is attempting to liquidate its venture capital holdings, which are estimated to be worth $500 million. Although this is far less than the amount owed, it is the only option the company has right now. Talks with investment bank Moelis to explore other options have been unsuccessful, and external funding attempts have also failed.

DCG has invested in a range of companies and projects over the years. Some of the most notable investments include exchanges Coinbase and Kraken, crypto investigation platform Chainalysis, Decentraland, USD Coin (USDC) issuer Circle, and Dapper Labs, the firm behind NBA Top Shots and CryptoKitties non-fungible token (NFT) collections. The company also invested $250,000 in the now-defunct crypto exchange FTX in July 2021.

It remains to be seen whether DCG will be able to raise the funds necessary to cover Genesis‘ debt burden. As of now, the company will have to rely on its venture capital holdings, which seem to be a far cry from the amount owed. If DCG is unable to raise the funds necessary, it is likely that Genesis will have to default on its debt obligations, which could have serious consequences for the crypto industry as a whole.

• Fantom Foundation has received approval to reduce the burn rate from 20% to 5%.
• Eligible developers will receive about 15% of the transaction fees generated from their dApps.
• To be eligible for the affiliate rewards, the dApp must have existed on the Fantom Opera network for up to 3 months and completed over 1 million transactions.

The Fantom Foundation recently achieved an important milestone in its journey to offer developers a better experience on its blockchain network. The foundation has received approval to reduce the burn rate from 20% to 5%, so as to allocate the remaining as reward to high-performing dApps. This means that eligible developers on the Fantom network will receive up to 15% of the transaction fees generated from their dApps.

The gas monetization model is in line with the ad monetization model common to Web2 giants such as YouTube, which allocates up to 55% of ad revenue to creators. The Fantom Foundation announced on Dec. 4, that it has received approval to implement the gas monetization model. To be eligible for the affiliate rewards, the dApp must have existed on the Fantom Opera network for up to 3 months and completed over 1 million transactions.

The goal of the incentivization model is to further reward developers for their contributions to the growth of the Fantom network. It also helps to encourage more developers to build on the network, as they are assured of a stable income stream. The Fantom Foundation will continually adjust the eligibility criteria as the need arises, so as to curb spammy and clunky dApps looking to exploit the gas monetization model.

The approval of the gas monetization model is a major step in the right direction for developers on the Fantom network. It will open up new opportunities for developers to participate in the growth of the network and make a living from the applications they build. In addition, it will also give developers more financial security and stability, as they are assured of a revenue stream from the network.

Overall, the new gas monetization model is a win-win for both the Fantom Foundation and for developers on the network. The Fantom Foundation is committed to providing developers with the necessary support and resources to build successful applications on the network, and this approval is a testament to that commitment.

• G7 economies and over 20 additional countries are in development stages for CBDCs, according to the Atlantic Council.
• China’s CBDC pilot is set to expand to most of the country in 2023 — currently reaching 260 million people, according to the AC.
• Over 20 countries are set to take significant steps towards piloting a CBDC in 2023, including Australia, Thailand, Brazil, India, South Korea, and Russia.

The global move towards central bank digital currencies (CBDCs) has continued to gain momentum in the past few years. According to the Atlantic Council (AC), all G7 economies had moved into the development stage of a CBDC by December 2022. In addition, over 20 countries are set to take significant steps towards piloting a CBDC in 2023, including Australia, Thailand, Brazil, India, South Korea, and Russia.

The AC’s December 2022 report also found that 11 countries had fully launched a digital currency, while a further 17 were in the pilot phase, with 72 in the research and development phase. China’s CBDC pilot is set to expand to most of the country in 2023 — currently reaching 260 million people, according to the AC.

The adoption of CBDCs is seen by many as a way to improve cross-border payments, mitigate financial crime, increase financial inclusion and address risks posed by other forms of digital currency. The Bank of England, Federal Reserve Bank of New York, Monetary Authority of Singapore and central banks in Spain and Switzerland are some of the institutions that have already launched their own CBDCs.

In December 2022, the governor of India’s central bank also expressed a strong interest in pursuing a CBDC. This sentiment was echoed in the AC’s report, which noted that CBDCs „will increasingly become central to the future of global payments and the global financial system.“

The AC’s report highlighted the need for CBDCs to be designed carefully, with attention paid to security, privacy and scalability. It also suggested that CBDCs should be tailored to the needs of individual countries, and that their development should be closely monitored by governments.

The report concluded that CBDCs have the potential to revolutionize the way money is used, both domestically and internationally. As more countries move into the development phase of CBDCs, the global financial system is likely to undergo a significant transformation.

• ATOM and SOL have outperformed BTC in terms of returns over the past two weeks.
• Cosmos has risen around 15% compared to BTC while Solana has beaten BTC returns by almost 8%.
• Price movements of ATOM and SOL have been largely influenced by their ties with FTX and its founder Sam Bankman-Fried.

Cryptocurrency markets have been highly volatile in recent weeks, with Bitcoin (BTC) leading the way. However, two altcoins, Cosmos (ATOM) and Solana (SOL), have managed to outperform the market leader by a considerable margin. Over the past two weeks, ATOM and SOL have seen impressive returns compared to BTC.

Cosmos, the 16th largest cryptocurrency by market capitalization, has been the star performer over the past two weeks with returns of around 15% compared to BTC. The token, which is currently trading at around $10.09, is up around 9.52% over the past week. The reason for the surge in price could most likely be attributed to the launch of its incentivized testnet, Stargate. The network upgrade is expected to bring a number of new features such as support for Inter Blockchain Communication (IBC) and improved scalability.

Solana, the 20th largest cryptocurrency by market capitalization, has also seen impressive gains over the past two weeks. Despite a significant dip on Dec. 29, 2022, SOL has managed to beat BTC returns by around 8%. The token, which is currently trading at around $19.37, is up 6.17% over the past week. The recent surge in price could be attributed to its ties with FTX and its founder Sam Bankman-Fried (SBF). SBF and his hedge fund Alameda Research were early backers of Solana.

It is worth noting that both ATOM and SOL have experienced significant volatility throughout the past two weeks. On Dec. 29, SOL price tanked by more than 30% compared to BTC, hitting a low of around $8.26. Similarly, ATOM had a volatile start in January, with returns mirroring that of BTC before rising sharply on Dec. 27.

Looking ahead, it remains to be seen if ATOM and SOL can maintain their impressive returns over the next few weeks. With the cryptocurrency market in a state of flux, any major developments in the space could have a significant impact on the price movements of these tokens.

• The White House press secretary Karine Jean-Pierre said that Sam Bankman-Fried’s meetings at the White House were focused on pandemic prevention-related matters, as well as cryptocurrency and crypto exchanges.
• She also noted that the administration has been clear about the need for Congress to take action when it comes to addressing cryptocurrency.
• The meetings may have concerned the FTX Future Fund, which donated $1.5 million to Stanford University for pandemic prevention, or the non-profit organization Guarding Against Pandemics.

The White House recently held meetings with Sam Bankman-Fried, the former CEO of FTX, to discuss pandemic prevention and cryptocurrency. Karine Jean-Pierre, the White House press secretary, said that the meetings were focused on pandemic prevention-related matters as well as cryptocurrency and crypto exchanges.

Jean-Pierre did not specify which foundation was discussed at the meetings, but it’s possible that it was the FTX Future Fund, which donated $1.5 million to Stanford University for pandemic prevention. Additionally, Gabriel Bankman-Fried, Sam Bankman-Fried’s brother, may have been present at some of the meetings. Gabriel Bankman-Fried once ran a non-profit organization called Guarding Against Pandemics.

Jean-Pierre mentioned that the Biden administration has been clear about the need for Congress to take action when it comes to addressing cryptocurrency. She said, „The administration has been clear about the need for Congress to take action…when we talk about addressing cryptocurrency.“

The White House meetings may have been beneficial for the cryptocurrency industry as a whole, as it indicates the Biden administration is open to discussing the topic. While the meetings were focused on pandemic prevention, the fact that cryptocurrency and crypto exchanges were also discussed is encouraging for the industry. It remains to be seen what action Congress may take in the future, but for now, it’s clear that the Biden administration is open to engaging with the cryptocurrency industry.