Headlines
▌Panama’s Supreme Court to Rule on Cryptocurrency Legislation
Panamanian President Laurentino Cortizo sent Bill 697, dubbed the "Cryptocurrency Bill," to the High Court for review and approval on Jan. 26 after he opposed the legislation, claiming it violated core principles of the constitution and cannot execute. The Supreme Court must now decide whether to declare the legislation unenforceable or approve it with amendments. According to an official statement, the government considers sections 34 and 36 of the bill to be unenforceable because they violate the state's principle of separation of powers by creating an executive within the government.
Cryptocurrency
▌Analyst: The suspected North Korean hacker organization transferred 17,000 ETH (about 27.18 million U.S. dollars) related to the Harmony incident again
On-chain data analyst Zach XBT tweeted over the weekend that the suspected North Korean hacker organization "LazarusGroup" transferred 17,000 stolen ETH (approximately $27.18 million) related to the Harmony incident again over the weekend. According to previous news, the Harmony cross-chain bridge Horizon was attacked on June 24 last year, and the loss amounted to about 100 million US dollars. Earlier this month, a suspected North Korean hacker organization transferred 41,000 ETH related to the Harmony incident and deposited it in three exchanges. The FBI confirmed on Monday that Lazarus Group and APT38 were responsible for Harmony cross-chain in June last year.
▌Elon Musk Still Wants McDonald’s To Accept Dogecoin
Tesla CEO Elon Musk has once again come out as a Dogecoin supporter. After being somewhat less forthcoming with his love for Dogecoin in recent weeks, Musk responded to a series of tweets from Mcdonald’s and ultimately to a question from a DOGE community member. Here’s what happened. McDonald tweeted “what did i miss” yesterday, prompting Binance’s Twitter account to reply, “A lot of green candles.” Mcdonald’s then once again showed its love for the crypto community by responding with “wagmi” – an acronym for “we are all gonna make it”, which is often used by the crypto community to build trust and encourage the community not to lose hope. Musk responded with “Oh hi lol.”
▌Ecommerce Giant Amazon To Launch NFT Initiative
According to the report, the e-commerce giant will focus on different sectors with plans to dab into NFT gaming. The platform will reward players with unique items in the form of NFTs. Amazon already offers its Prime service subscribers access to a videogame platform. Members of this service can access the platform’s catalog and receive monthly rewards to claim AAA games. The new NFT initiative could bolster the service by offering new rewards and attracting new users. The NFT platform is currently under development and could run on Amazon proper rather than in Amazon Web Services (AWS), Blockworks reported. The company could reveal further information in April 2023, but there is no official statement from Amazon or its executives.
▌Matrixport Report: US Institutions Account for 85% of Bitcoin Purchases
Matrixport’s latest report cited that Bitcoin has risen by 40% this year, of which 35% of the return occurred during the US trading hours, which means that “85% of the contribution” is related to US investors, indicating that US institutions are currently Bitcoin buyers. The report concluded that this "should be a very positive sign for Bitcoin" as institutional adoption continues. Markus Thielen, director of research and strategy at Matrixport, said the data shows that institutions are not “giving up on crypto,” a sign that we may be entering a new “crypto bull market.” Thielen added that previous data has shown that institutions typically start buying bitcoin first, before investing in other cryptocurrencies.
Nigeria's EFCC froze over 1,100 crypto traders' accounts due to alleged currency manipulation and money laundering, intensifying concerns about crypto regulation. While the CBN denies a crypto ban, the EFCC's actions and regulatory uncertainties cast a shadow over Nigeria's crypto future.
WeatherlyMicroStrategy acquires 122 BTC, holding 214,400 Bitcoins valued at $7.54 billion, despite a Q1 net loss of $53.1 million.
AlexThe trading volume of Hong Kong's Bitcoin Spot ETF reached approximately $6.3 million, impacted by the ban on mainland Chinese investors from trading, affecting market demand.
MiyukiTerraform Labs advocates for a $1 million penalty instead of the $5.3 billion sought by the SEC after Do Kwon's fraud conviction, arguing for financial responsibility distinctions.
WeiliangIn the midst of a crackdown on crypto privacy technology, Keonne Rodriguez, co-founder of Samourai Wallet, has entered a plea of not guilty to charges of laundering and operating without a license.
KikyoThe Lazarus Group, a North Korean hacking syndicate, has elevated its crypto phishing tactics by exploiting LinkedIn's trust. They impersonate industry figures to lure unsuspecting victims, highlighting the need for enhanced cybersecurity measures in the crypto community.
JoyU.S. legislators have fiercely criticized the SEC's investigation into Ethereum, accusing Chairman Gary Gensler of intentionally misleading Congress.
AlexFormer Binance CEO CZ acknowledged wrongdoing, surrendered voluntarily, and received a four-month sentence, while former FTX CEO SBF opted for trial, asserting innocence, and received a 25-year sentence instead.
CatherineHong Kong's Bitcoin and Ether ETFs launch saw a modest trading volume, indicating cautious investor sentiment amid regulatory concerns and market volatility. Despite the muted response, increased trading volume suggests growing interest, hinting at potential future market impact.
WeatherlyThe recent plunge in Bitcoin has piqued investor interest, with many considering the significant volatility of this digital token as a harbinger of broader changes in global market risk appetites. Charlie Morris, Chief Investment Officer at ByteTree Asset Management, wrote in a report, "Bitcoin is our favorite canary. It serves as a warning of potential future troubles in financial markets, yet we remain confident that it will rebound at some point."
Miyuki