🚨 Andrew Tate's Bitcoin seized

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Investors seem to be shifting their focus away from BUSD, USDC, and DAI and towards USDT after U.S. financial regulators' recent action against Paxos. And in the investing world, Cathie Wood, founder of Ark Invest, has made a noteworthy addition to her portfolio by acquiring 240,000 shares of Coinbase.

Unfortunately, Magic Eden, the largest non-fungible token marketplace for the Solana blockchain, has announced it will be laying off 15% of its workforce. And on a positive note, Siemens, the renowned German technology and engineering corporation, has set a new precedent by issuing a €60 million digital bond on a public blockchain.

Markets

Investors Rush to Tether as Paxos' BUSD Faces Regulatory Heat (3 minute read)It's widely believed that U.S. financial regulators' recent action against Paxos' centralized, dollar-pegged stablecoin BUSD is set to drive investors toward decentralized, censorship-resistant alternatives. And while that seems logical, the evidence so far points to the opposite. Investors appear to be moving out of BUSD and its peers, USDC and DAI, and into tether (USDT), the world's largest centralized stablecoin, which has a market capitalization of $68.47 billion.

Cathie Wood’s Ark Invest fund snaps up discount Coinbase shares (1 minute read)Cathie Wood, the founder of Ark Invest, recently added 240,000 shares of Coinbase Global Inc (NASDAQ:COIN) to her investment portfolio, split across two of her exchange-traded funds (ETFs), ARK Innovation and ARK Next Generation Internet. With this purchase, her total holdings in Coinbase now stand at approximately $421 million. Wood's decision to invest more in Coinbase came after the company's stock price dropped on February 9th due to concerns that its staking platform was under scrutiny by the US Securities and Exchange Commission (SEC).

NFT marketplace Magic Eden cuts 22 staffers as part of restructuring (2 minute read)Magic Eden, the largest nonfungible token marketplace for the Solana blockchain, is going to lay off around 15% of its staff - that's 22 employees in total. The CEO, Jack Lu, said in a letter that the company is restructuring due to its significant growth and changing challenges since it was launched 15 months ago. But it's not all doom and gloom - Magic Eden is still focused on expanding across different chains, developing new services for NFT creators, and exploring fresh ideas like rewards and social experiences. To make all that happen, the company had to take a hard look at its structure and roles, and make some tough decisions.

Tech

Siemens issues €60M digital bond on a public blockchain (3 minute read)Siemens, a major German technology and engineering corporation, has made history by issuing a €60 million digital bond on a public blockchain. The bond, with a maturity of one year, was issued in compliance with Germany's Electronic Securities Act, making Siemens one of the first companies in Germany to do so. The company claims that this method of bond issuance is more efficient and faster than traditional methods. Siemens has emphasized the benefits of using blockchain technology to issue bonds.

Misc

Bankman-Fried banned from using VPN, bail arguments set for Thursday (2 minute read)Sam Bankman-Fried, the former FTX boss got banned from using a VPN while under house arrest, after he admitted to using one to watch the Super Bowl. The judge is worried that VPNs present similar risks as encrypted messaging or call apps, so he made an immediate change to Bankman-Fried's release conditions. And that's not all - Bankman-Fried's lawyers are currently negotiating his bail terms with prosecutors, and the judge already barred him from using apps like Signal after he contacted a potential witness in his criminal case. Plus, he can't talk to any current or former FTX employees until his bail conditions are sorted out.

What To Expect After The Senate Banking Hearing On Crypto Crash (5 minute read)The crypto industry faced a big moment on Tuesday when the Senate Banking Committee held a hearing on digital assets. The hearing was called "Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets" and tackled some important topics like stablecoin regulation, consumer protection, banking for the crypto industry, whether a Self Regulatory Organization is needed, and how the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) should work together to regulate digital assets.

Andrew Tate Reveals How Much Bitcoin He’s Had Seized by Authorities (2 minute read)Andrew Tate, a former kickboxer and Instagram influencer, was arrested in December on charges of human trafficking and rape. He lived in Romania and authorities there have seized his luxury cars, homes, and watches, but what about his Bitcoin? Tate frequently boasted about the size of his cryptocurrency stash, and it turns out that the Romanian police confiscated hardware wallets containing his and his brother Tristan's digital assets. According to a spokesperson for the brothers, Andrew Tate's wallet contained five Bitcoin, worth around $111,339 today, while Tristan's wallet held around 16 Bitcoin. Altogether, that's a total of $467,625 worth of the asset.

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