What’s popping, Breet Gang?
Welcome to week two of the longest month in the year — tighten your seatbelt, don’t bother counting down to salary week yet & whatever you do, don’t lose your New Year Resolution list too soon!
If you didn’t catch any of the subs above, this is me hailing you o! 😁
Meanwhile, it’s another beautiful Monday & as we wave the holidays goodbye, it’s time for our Crypto News roundup featuring the major stories!
Let’s dig in, shall we?
1. The biggest cryptocurrencies struggled to stay afloat in the first week of January, with Bitcoin falling by 0.56% to $16,731, while Ethereum dropped by 0.71% to a low of $1,243 by Friday afternoon. Let’s sha be hopeful 🤝
2. Crypto Infrastructure Company Securrency has appointed the Head of Digital at State Street Nadine Chakar as the new CEO, to replace the current CEO Dan Doney. Congratulations are in order! 🥳
3. In unfortunate news — Crypto Lender Genesis has had to lay off 30% of its workforce, and this is coming after a previous 20% cut in August 2022, taking the total number of their staff to a low of 145. Heartbreaking! 🥲
4. Time for some FTX gist — Sam Bankman-Fried is out to dispute rival claims coming from the estate of his former company FTX and bankrupt Crypto Lender BlockFi, as he seeks to retain control of about $450M in Robinhood shares, stating his need for the money to cover legal fees. We wonder how this one would end! 🤔
5. Meanwhile, crypto exchange Coinbase’s stock has been downgraded by analysts of financial services company Cowen. Their reason? Lack of clarity on trading volume recovery after the FTX collapse! The FTX ripple effect? It’s still rippling! 🙃
6. In other news — Alex Mashinsky, the former CEO of Celsius Network has a lawsuit against him from the New York state’s Attorney General for “defrauding hundreds of thousands and misleading investors about the firm’s health”. Everybody dey collect this season! 🌚
7. More theft news o — the U.S. Securities and Exchange Commission (SEC) has accused alleged fraudster Neil Chandran and several others for orchestrating a scheme that took cash from tens of thousands of investors through a $45M blockchain technology scam! These people need to repent this 2023 🤲🏻
8. Crypto banking firm Juno has put out a statement, advising its customers to move their assets from the platform into self-custody, or alternatively, sell them for cash. Why? The firm is currently working to migrate client funds to a new custodian. Definitely doesn’t sound good 👀
9. And last on our list — Twitch streamer DNP3, the founder of several crypto and NFT projects including The Goobers NFT, Gridcraft Network and Cryptocurrency CluCoin has stirred up a heated reaction after he admitted to gambling away investor funds. Can we blame the people? 😬
You’re all caught up, my gee.
Remember, you can stay up-to-date on the latest Crypto news all week long — just follow us on our social media platforms & drop by this blog often so you don’t miss anything! 🕺🏼
Until next time, be awesome!