Weekly Update: 12 Jan 2023
1) Animoca Brands aims to raise $1 Billion for Web3 Fund [Bloomberg]
– Firm targeted as much as $2 billion as recently as November, fundraising to invest in blockchain and metaverse start-ups.
2) Crypto exchange operator Bithumb investigated by South Korean Tax Authorities [CoinDesk]
– The former chairman of Bithumb Holdings, which operates a crypto exchange in the country, was recently acquitted of fraud charges.
3) Asian crypto regulations diverge as Singapore, Hong Kong change course (Podcast) [Bloomberg]
– Asian countries differ in their approaches of attempting to manage and prevent crypto crises.
4) Avi Eisenberg faces more charges — this time from the CFTC [Blockworks]
– The US financial regulator is going after Eisenberg for his alleged participation in a $100M hack on DeFi platform Mango Markets.
5) BAYC leads the pack as NFT sales bounce back in New Year [Blockworks]
– Even after its two most valuable NFT projects, DeGods and y00ts, announced plans to move to Ethereum and Polygon, respectively, Solana saw its NFT sales grow by nearly 30% last week.
6) BlockFi says it repaid investor $15M to settle over crypto crash [Reuters]
– BlockFi executives have repaid an investor $15 million to settle a threatened lawsuit over the company’s declining equity value
7) Coinbase lays off another 20% of its employees [The New York Times]
– The cuts at the cryptocurrency exchange come after nearly a fifth of employees were let go in June, as crypto markets teeter and tech companies rethink their growth plans.
8) Crypto Conglomerate DCG Being Investigated by DOJ [CoinDesk]
– The inquiries, which appear to be in an early stage, are focused on financial transfers between DCG and its Genesis unit.
9) Metaverse to possibly create $5T in value by 2030: McKinsey report [Cointelegraph]
– The success of Metaverse will rely on a greater focus on maximizing the human experience aimed at delivering positive experiences for consumers, end-users, and citizens.
10) Russia to begin work on CBDC settlement system in Q1 as sanctions endure [Cointelegraph]
– The country’s central bank will begin studying two possible cross-border CBDC settlement models this quarter.
