📈 Exchanges CHARGED by SEC

Markets

Bitcoin Surge Causes Over $500M in Liquidations, Highest in 3 Months (5 minute read)Crypto markets surged to hit the $1 trillion mark over the weekend, when data from Coinalyze showed that a record-breaking number of short positions – bets against higher prices – were liquidated, amounting to nearly $500 million. This was the highest recorded level since October 2022 and indicated signs of bottoming.

SEC Charges Genesis and Gemini Selling Unregistered Securities (6 minute read)The SEC has charged Genesis and Gemini with allegedly selling unregistered securities through their 'Earn' product. According to the complaint, users were promised yields of up to 8%, but fees deducted by Gemini sometimes amounted to over 4%. The SEC noted that the product should have been registered as a securities offering, as per regulations.

Web3: DeFi & NFTs

Yuga Labs Announces Skill-Based NFT Mint (5 minute read)Yuga Labs has unveiled an expansion to their NFT ecosystem, beginning with a free mint and skill-based game. On Jan. 17, holders of Bored Ape Yacht Club/Mutant Ape Yacht Club will receive Sewer Passes – which are the keys to unlocking Dookey Dash, a game playable from Jan. 18 onwards.

Misc

Vitalik Buterin on eating sushi in Ukraine, how crypto can help in a crisis, and what’s next for Ethereum (8 minute read)Vitalik Buterin is an influential figure in the world of cryptocurrency, having come up with Ethereum – a way to use blockchain technology beyond currency – nine years ago. This has now become a platform for building an open-source, decentralized internet, according to its advocates.

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