Coinbase fined $100M for compliance failures; Logan Paul wants to sue Coffeezilla

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The biggest news in the cryptoverse on January 4th included the World Economic Forum outlining its vision for the future of crypto, and the US Department of Justice controlling Robinhood shares contested by FTX-related parties. , and CryptoSlate’s Bitcoin UTXO analysis.

CryptoSlate Top Stories

Coinbase’s AML protection was “poor”. Settled for $100 million in NYDFS

Coinbase will pay a $50 million fine for failure to comply with the New York Banking Act and other state regulations. Press release January 4th.

The largest cryptocurrency exchange by trading volume will invest another $50 million over the next two years to update its compliance system, following a plan approved by New York regulators.

India’s crypto tax could cost CEX $1.2 trillion in trading volume by 2026

According to recent data, Indian crypto exchanges lost about 97.1% of their trading volume between January and October 2022. research.

A report by the Esya Center, an Indian technology policy think tank, examined three major Indian exchanges, including WazirX, CoinDCX and Zebpay. This study is significant as it provides the first financial estimates of the impact of India’s cryptocurrency tax.

Logan Paul threatens to sue Coffeezilla over CryptoZoo fraud accusations

youtuber logan paul has responded to Stephen Findeisen, aka Coffeezilla, regarding accusations of defrauding CryptoZoo investors.

World Economic Forum Announces Future Vision for Cryptocurrencies

The World Economic Forum (WEF) recently article We outline our vision for the future of crypto.

It referred to JP Morgan and other “major financial institutions” in the context of 180’ing from the initial skepticism of digital assets. It also advocates handing over “groundbreaking technology” to “responsible actors”.

DOJ seizes contested Robinhood stake in FTX

According to various reports on Jan. 4, US authorities will take control of Robinhood shares that are being contested by FTX-related parties.

These reports indicate that the U.S. Department of Justice (DOJ) has seized or is currently seizing Robinhood shares related to FTX.

Judge rules $4.2 billion belongs to Celsius

A new update on the Celsius bankruptcy case was made Jan. 4 as Judge Martin Glenn control The $4.2 billion in funds deposited into Earn Accounts is the property of Celsius, not the investors.

research highlights

Study: Bitcoin UTXO Grows Despite Bear Market

An analysis of Bitcoin Unspent Transaction Outputs (UTXOs) by CryptoSlate showed that the total number of UTXOs has continued to grow since 2018.

The increase in unused output defies every instance of price movement and continues to grow through the ongoing bear market. A positive growth in the UTXO set indicates an increase in network usage, a negative value indicates a decrease in network usage.

data According to Glassnode, the total set of Bitcoin UTXOs hit an all-time high in the first few days of January, surpassing 136 million UTXOs.

crypto market

Over the past 24 hours, Bitcoin (BTC) rose 1% to trade at $16,831.02 while Ethereum (ETH) rose 3.48% to trade at $1,253.51.

Biggest Gainers (24 hours)

  • XYO (XYO): +47.97%
  • Ethereum Classic (ETC): +19.23%
  • Luxo (LYXe): +18.35%

Biggest Loser (24h)

  • OKB: -3.57%
  • Ribbon Finance (RBN): -2.92%
  • APENFT (NFT): -1.65%

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