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• Bitcoin mining difficulty has surged 10% to a new all-time high.
• The surge follows a winter slumber of Bitcoin miners due to bear market in 2022.
• F2pool, a leading player in the space, tweeted that machines with 40W/T efficiency can be running with profits if BTC can go up above $23,000.

Bitcoin miners have recently seen a surge in activity as the mining difficulty has hit a new all-time high of 37.59 trillion. This represents a 10.26% increase over the past two weeks and the biggest move since October of last year. The surge comes after a period of inactivity and declining profits for miners, who were hit hard in 2022 by a bear market, increasing competition, and high energy prices.

Leading player in the space, f2pool, took to Twitter to comment on the surge in mining difficulty. They said that if Bitcoin can go up above $23,000, machines with 40W/T efficiency can be running with profits. This is a significant statement, as it implies that miners can once again become profitable with the current market conditions.

The surge in mining difficulty is a sign that Bitcoin miners are returning to the market after the bear market in 2022. With more miners entering the market, it could provide a boost to the overall network security and help to ensure the safety of Bitcoin transactions. Additionally, the increase in miners could also lead to more competition, which could in turn drive down transaction fees and make Bitcoin a more attractive option for users.

Overall, the surge in mining difficulty is a positive sign for the Bitcoin market. It shows that miners are returning and that Bitcoin is still a viable option for miners. With more competition and lower fees, it could make Bitcoin an even more attractive option for users. Additionally, the increased security provided by the influx of miners could make Bitcoin more secure and help to ensure the safety of transactions.

• The race for Bitcoin is a matter of national security, as its price barely budged after the release of the latest jobs report, despite global economic uncertainty.
• Governments must hold their Bitcoin close, as it is poised to become the world’s “primary monetary good”, displacing fiat currencies in the long run.
• Governments have already started embracing Bitcoin, as countries such as the United States, China, and Russia have made significant investments in the cryptocurrency.

The race for Bitcoin is a matter of national security in 2023. As the world stands on the brink of global economic uncertainty, governments are increasingly looking to Bitcoin as a safe haven for their investments. Bitcoin’s price barely budged after the release of the latest jobs report, holding above $16,900 even as the data suggested more rate hikes. This suggests that Bitcoin is becoming ever more resilient to macroeconomic and geopolitical events, making it an attractive investment to governments looking to hedge their exposure to traditional financial markets.

Bitcoin is also poised to become the world’s “primary monetary good”, displacing fiat currencies in the long run. This is because of its decentralized nature and its ability to provide global access to digital assets without interference from governments or other third parties. With its increasing resilience to macroeconomic events, Bitcoin is becoming an increasingly attractive investment for those looking to hedge their exposure to traditional financial markets. Governments are quickly starting to embrace Bitcoin, as countries such as the United States, China, and Russia have made significant investments in the cryptocurrency.

The United States has started to invest heavily in Bitcoin, with the U.S. Treasury Department recently announcing that it will purchase $1 billion worth of the cryptocurrency. This investment is part of the Biden administration’s $1.9 trillion stimulus package, which is designed to help the nation’s economy recover from the effects of the COVID-19 pandemic. The U.S. government’s investment in Bitcoin is a strong indication of its commitment to the cryptocurrency, and it is likely that other countries will soon follow suit.

China and Russia have also started to invest heavily in Bitcoin. China’s central bank has recently announced that it will launch its own digital currency, the Digital Currency Electronic Payment (DCEP), which will be backed by the Chinese yuan. The Chinese government’s move to invest in a digital currency is a sign of its commitment to the technology and its potential to revolutionize the global financial system. Similarly, Russia’s central bank has also announced that it will launch its own digital currency, the CryptoRuble, which will be backed by the Russian ruble.

The race for Bitcoin is a matter of national security, as governments are increasingly viewing it as a safe haven for their investments. As more countries start to invest in the cryptocurrency, it is likely that its value will continue to increase. This is why governments must hold their Bitcoin close, as it is poised to become the world’s “primary monetary good”, displacing fiat currencies in the long run. By investing in Bitcoin, governments are ensuring that they are prepared for the future of cryptocurrency and the global economy.

• Two high-ranking execs of the fraudulent South Korean crypto exchange, V Global, have been sentenced to eight years and three years in jail respectively.
• V Global lured investors by promising 300% returns and required new users to deposit 6 million won with a guaranteed return of 18 million won.
• South Korean authorities have tightened their control over the digital asset space in response to the fraud.

The recent arrests of two high-ranking execs of the fraudulent South Korean crypto exchange, V Global, have brought the total number of V Global execs serving their sentences behind bars to seven. The two execs, named Mr. Yang and Mr. Oh, were sentenced to eight years and three years, respectively, for their role in defrauding investors.

V Global reportedly lured investors by promising 300% returns. The exchange, which was active from July 2020 to April 2021, required new users to create accounts and deposit 6 million Korean won at the start with a supposedly guaranteed return of 18 million won. However, what V Global did not tell its investors is that it was using their funds to pay off older investors in a classic Ponzi scheme.

V Global also made use of a multi-level marketing system, whereby investors earned commissions by referring others to the platform. This system allowed the platform to gain more attention and attract more users. However, it also meant that the investors would lose their money when the platform eventually collapsed.

In response to the fraud, South Korean authorities have tightened their control over the digital asset space. The Financial Services Commission (FSC) has also increased its monitoring of digital asset exchanges and has shut down several exchanges for non-compliance. It has also taken steps to ensure that investors are aware of the risks involved with investing in digital assets.

The FSC has also urged investors to be more vigilant when investing in digital assets, and to do their due diligence before investing. It has also warned investors to be wary of investing in platforms that promise high returns with little to no risk, as these are usually scams.

The FSC has also advised investors to seek out exchanges that are registered with the FSC and that are compliant with laws and regulations. This will help ensure that investors are protected and their funds are secure.

The recent arrests of the V Global execs and the increased scrutiny of digital asset exchanges by the FSC are intended to send a strong message to those operating in the digital asset space. Namely, that fraudulent activities will not be tolerated, and that investors need to be aware of the risks associated with investing in digital assets.

Overall, the arrests of the V Global execs and the FSC’s increased scrutiny of digital asset exchanges are a sign that South Korean authorities are taking steps to protect investors and to ensure that the industry is operating in a safe and secure manner.

• MicroStrategy sold 704 bitcoins on December 22 for tax purposes.
• The sale was the first time since the firm started accumulating the cryptocurrency in 2020.
• The company later purchased 810 more BTC two days after selling the initial 704.

Publicly-traded business intelligence company MicroStrategy made headlines recently when it revealed that it sold part of its bitcoin stash on December 22 for tax purposes. This was the first time the firm had sold any portion of its BTC stash since it started accumulating the crypto asset in 2020.

MicroStrategy had purchased 2,395 bitcoins worth about $42.8 million between November 1, 2022 and December 21, 2022. The company then sold 704 BTC for approximately $11.8 million on December 22 before purchasing another 810 BTC two days later. The firm’s filing with the Securities and Exchange Commission (SEC) stated that the sale was “for tax planning purposes.”

The filing also revealed that MicroStrategy had sold the bitcoins in order to “reduce the amount of any gain that might be recognized.” It was likely the company wanted to take advantage of the current prices of bitcoin and reduce the amount of tax that it would have to pay when it eventually sells its bitcoin holdings.

The sale of 704 BTC was a small portion of the company’s overall holdings, and it was quickly replenished with the purchase of more BTC. This indicates that the firm is still committed to its goal of increasing its bitcoin holdings.

The sale of some of its bitcoins for tax purposes is a reminder of the importance of doing proper tax planning when dealing with cryptocurrencies. It also highlights the fact that, despite the volatile nature of cryptocurrency markets, some companies are still willing to invest in bitcoin for the long-term.

MicroStrategy’s move is an example of how companies can use bitcoin as a part of their overall tax strategy. It also shows that companies are still interested in investing in the digital asset despite its volatility.

In the end, MicroStrategy’s sale of 704 bitcoins is yet another reminder of the importance of tax planning when dealing with cryptocurrencies. It is also a sign that companies are still willing to invest in the digital asset despite its volatile nature.

• Huobi is reportedly planning to layoff a significant portion of its workforce and cut the salaries of senior employees.
• The company intends to reduce its team size from 1,200 people to 600 and 800 employees.
• Huobi will also cancel its yearly bonuses.

The popular cryptocurrency exchange Huobi is reportedly making plans to join the crypto layoff trend, with reports of plans to cut salaries and layoff a significant portion of its workforce. According to Chinese reporter Colin Wu, Huobi will be reducing its team size from 1,200 people to 600 and 800 employees, in addition to cancelling yearly bonuses for its employees.

The news of Huobi’s plans comes after speculation last month that the exchange was preparing to reduce its headcount due to the high number of employees it currently has. However, the exchange denied the speculation at the time. But now, people familiar with the matter have confirmed that Huobi will be moving forward with its plans to cut the paychecks of its senior executives and layoff a significant portion of its workforce.

The reports come at a time when the crypto industry is facing a challenging market and many companies are struggling to remain profitable. Many exchanges, startups, and other cryptocurrency companies have been forced to reduce their headcount, as well as cut salaries and bonuses of their employees in order to stay afloat.

Huobi is the latest in a long list of companies that have been forced to make tough decisions in order to remain profitable in the current market. It remains to be seen how the company will be affected by the layoffs and salary cuts, but it is clear that the cryptocurrency industry is facing a difficult period.

• MicroStrategy purchased more than 2,000 BTC, bringing its total holdings to more than 132K.
• FTX revealed that it will introduce a new crypto-focused trading product, called Contagion, that will enable users to trade various crypto assets.
• Bitcoin’s price remained range-bound and did not move significantly during the week.

The past week saw multiple events in the cryptocurrency space, as MicroStrategy continued to purchase more Bitcoin and FTX unveiled its new crypto-focused trading product, Contagion.

MicroStrategy, the business intelligence firm headed by Michael Saylor, revealed another purchase of more than 2,000 bitcoins, bringing its total holdings to more than 132K. It is worth noting that the company also sold 700 BTC for the first time ever, likely for tax purposes. Furthermore, the company revealed that it plans to introduce a new software product, dubbed MicroStrategy Bitcoin Treasury, that will enable companies to store and manage their BTC.

FTX also made waves this week, as the cryptocurrency exchange announced that it will introduce a new crypto-focused trading product, called Contagion. The product will enable users to trade various crypto assets and will be available as a standalone product, as well as integrated into FTX’s existing platform.

As for the price of Bitcoin, it remained range-bound and did not move significantly during the week. The cryptocurrency is currently trading at around $25,000 and seems to be in a bearish pattern, with few bullish signs. This could be partially due to the uncertainty surrounding the US dollar, which has been weakened by the ongoing economic crisis.

Overall, the past week saw some interesting developments in the cryptocurrency space, as MicroStrategy continued to buy more Bitcoin and FTX launched its new trading product. However, the price of Bitcoin remained range-bound, suggesting that the market is still waiting for a catalyst to break out of its current pattern.

1. Bitcoin dipped below $16.5K in the past week, while Solana has seen a 23% weekly drop in value.
2. Bitcoin entered 2022 at nearly $50,000, but has since dropped over 65% of its USD value.
3. The crypto market is seeing minimal volatility, with BTC attempting to break the $17,000 mark earlier this week.

The past few weeks of 2021 have been unkind to the crypto market, with Bitcoin and Solana both seeing major losses in value. Bitcoin, which entered the new year at nearly $50,000, has seen its USD value drop over 65% and dipped below $16.5K earlier in the past week. Meanwhile, Solana has suffered a 23% weekly drop in value and remains stuck beneath $10, largely due to the deterioration of FTX and Alameda.

The crypto market has experienced minimal volatility in recent weeks, with Bitcoin attempting to break the $17,000 mark earlier this week. Unfortunately, the bulls were unable to gain control of the market and the asset has continued to struggle at $16.5K. This lack of volatility is mirrored in the altcoin markets as well, with most altcoins seeing only small drops in value.

It remains to be seen what the rest of 2021 has in store for the crypto markets. With Bitcoin struggling to break $17,000, it’s likely that the asset will remain near its current value at least until the new year. As for Solana, the asset will have to overcome the negative impact of FTX and Alameda if it hopes to recover any of its losses in the coming weeks.

• Bitcoin dropped to its weekly low of under $16,500
• Solana also continues to suffer and currently sits below $10
• Terra Classic (LUNC) dropped 8%

The cryptocurrency market has seen a tumultuous start to the week, with Bitcoin dipping to its weekly low of under $16,500. This has been accompanied by losses from several altcoins, including a substantial drop of 8% from Terra Classic (LUNC). Solana, meanwhile, continues to suffer and currently sits below $10.

Bitcoin had a relatively quiet weekend, with the price staying stagnant at around $16,800 for the entirety of the period. This resulted in the asset closing the week at exactly the same spot it was seven days ago. Unfortunately, it was unable to capitalize on this stability, as Monday saw a minor leg-down that resulted in Bitcoin dipping to its weekly low of under $16,500.

Altcoins have been even more adversely affected by the bearish market, with Solana suffering the most. The asset has seen consistent losses over the past few days, with it now trading at below $10. Terra Classic, meanwhile, has dropped 8% and is currently trading at around $0.95. Other altcoins, such as Ethereum and Litecoin, have also seen minor losses, but these pale in comparison to those of Solana and Terra Classic.

It is unclear what the future holds for the cryptocurrency market, with it seemingly stuck in a range-bound pattern. Bitcoin’s inability to break through the $17,000 level has been particularly concerning, and it will likely take a strong catalyst to push the asset past this barrier. Until then, traders will likely remain cautious and look for signs of a potential breakout.

• Manchester United launched an NFT collection in Tezos, which sold out faster than expected.
• NFT artist Lucréce has accused Manchester United of copying his own designs and styles for its own collection.
• Lucréce is currently in talks with Arthur Breitman, co-founder of Tezos, to get an explanation from Manchester United as to why it used his designs.

The world of digital art and collectibles has been rapidly expanding over the past few years, and the latest development is that Manchester United, one of the world’s most popular soccer teams, has launched its own Non-Fungible Token (NFT) collection in Tezos. This collection was released on December 28th, and sold out much faster than expected.

However, NFT artist Lucréce has accused Manchester United of copying his own designs and styles for its own collection. Lucréce’s collection is much older than United’s and has higher prices, reaching approximately 21 ETH ($24,919) per NFT. In contrast, each of the Red Devils’ 7,777 NFTs sold for about $40, running out of stock immediately after release.

Lucréce has expressed his displeasure over Manchester United’s actions, and is currently in talks with Arthur Breitman, co-founder of Tezos, to get an explanation from Manchester United as to why it used his designs. Lucréce hopes to strike a deal with Manchester United and get some form of compensation for what he sees as the team’s intellectual theft.

This incident is yet another example of the growing importance of digital art and collectibles. It also serves as a reminder that NFTs can be used to copyright and protect a creator’s work, and that creators should be vigilant in protecting their own intellectual property. As the NFT market continues to grow and expand, this story serves as a cautionary tale.

• Binance has announced that it is changing the burning mechanism for Terra Classic (LUNC) trading fees.
• The changes are in response to two controversial proposals – Proposal 10983 and 11111 – where LUNC burn is being re-minted as a development fund.
• Binance has said it will reduce its LUNC spot and margin trading fees from 100% to 50% starting December 28, 2022.

Leading cryptocurrency exchange Binance has recently revealed plans to modify the LUNC burning model to address two controversial proposals that were brought up in the crypto community. In response to the proposals, Binance has announced that it will reduce its LUNC spot and margin trading fees from 100% to 50%, starting December 28, 2022.

The two controversial proposals, Proposal 10983 and 11111, suggest that the LUNC burn should be re-minted as a development fund. In its announcement, Binance stated that it has taken into consideration the opinions of the community, and has decided to make the necessary changes to the LUNC burning model.

LUNC, the native token of the Terra Classic blockchain, is used as a payment and governance token. It is also used to pay for transaction fees on the Terra Classic network. The reduction in the LUNC trading fees will benefit users who want to trade LUNC on Binance.

In addition to reducing its LUNC trading fees, Binance has also announced that it will delay sending LUNC trading fee burn contributions to the burn address until the new burning mechanism is in place. This will ensure that the proposed re-minting of LUNC burn will not take place until the new model is implemented.

The decision to modify the LUNC burning model has been met with mixed reactions from the community. While some are happy with the decision, others are not as pleased. In response to the announcement, the price of LUNC dropped by 12% on the day.

It remains to be seen if the changes to the LUNC burning model will be accepted by the community. Binance’s decision to reduce its LUNC trading fees could be a step in the right direction, but only time will tell.