The breaking news of last week:
1. Key Word: Huobi, Core
Huobi will be opening CORE (CoreDAO) spot trading (CORE/USDT) and spot Grid trading (CORE/USDT) at 12:00 (UTC) on February 8.
Core is an L1 blockchain that provides the composability of an EVM chain, with the decentralization and security of Bitcoin. $CORE is the native token of the Core network
2. Key Word: Ethereum, Shanghai Upgrade
JPMorgan says Ethereum's shanghai upgrade to raise staking toward proof-of-stake blockchain average.
Ethereum’s staking ratio is around 14% compared with an average of 60% for the other major PoS blockchains.
A withdrawal page has been added to the Ethereum official website. This page introduces the relevant matters of Ethereum withdrawal in detail, including reward collection, withdrawal steps, withdrawal time period, etc. Ethereum staking withdrawals will be available after the Shanghai/Capella upgrade, which is expected to be completed in Q1/Q2 of 2023.
3. Key Word: Genesis, DCG, Gemini, Grayscale Crypto Trusts
Gemini, genesis reach $100 million agreement over earn program.DCG will also exchange a $1.1 billion note for stock and refinance $1 billion in loans.
DCG sells shares in Grayscale crypto trusts in push to raise funds. Digital assets conglomerate sells down holdings in prized investments at a discount to pay creditors.
4. Key Word: LocalBitcoins, Shut Down
Finland-based peer-to-peer (P2P) cryptocurrency platform LocalBitcoins is shutting down operations after serving its customers for more than 10 years.
LocalBitcoins officially announced the termination of services on Feb. 9, citing the tough market conditions of the ongoing cryptocurrency winter.
5. Key Word: Ark Analyst, Cathie Wood
Bitcoin could hit $1.5 million in just 7 years according to a new report from Cathie Wood’s ARK Invest
6. Key Word: South Korea , STO
South Korea established guidance that specifies which types of digital assets will be considered and regulated as securities in the country.
In a press release, the Financial Services Commission (FSC) highlighted that digital assets that fit the characteristics laid out in the country’s Capital Markets Act will be treated as securities.
7. Key Word: BTC, Tesla
Bitcoin held by Tesla is still worth 33% less than its 2021 purchase price, the latest data shows.
Two years to the day that Elon Musk’s firm added BTC to its balance sheet, most gains continue to evade the auto manufacturer.
8. Key Word: Kraken, ETH Staking
The U.S. Securities and Exchange Commission (SEC) announced charges against crypto exchange Kraken on Thursday, alleging its offering of a crypto staking-as-a-service program amounted to offering unregistered securities products in the U.S. To settle the charges, Kraken is paying $30 million and shutting all of its U.S. staking services.
9. Key Word: SEC, Regulation on Crypto
Regulation of emerging technologies and crypto-assets will be one of the top priority of sec in 2023.
10. Key Word: PayPal , SEC, Pause Stablecoin
According to its annual filing to the Securities and Exchange Commission, payments giant Paypal possessed more than $500M worth of the two major cryptocurrencies as of December 31, 2021.
PayPal Holdings Inc (PYPL.O) is pausing work on its stablecoin as regulators increase scrutiny of cryptocurrencies and a key partner on the project faces a probe by the New York State Department of Financial Service.
Events coming in this week:
1. On February 14th (Tuesday), Huobi will list the NFT token Blur;
1. On February 14 (Tuesday), the Fed will release the CPI for January. The market is worried that the hawkish will come back, and the Fed may continue to raise interest rates;
2. On February 15 (Wednesday), New York Fed Chairman Williams will deliver a speech at the event of the New York Bankers Union.
