Cryptocurrency

Gemini co-founder calls to oust DCG CEO; Binance liquidates $75M SHIB

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The biggest news in the Cryptoverse on Jan. 10 was that Gemini co-founder Cameron Winklevoss accused DCG CEO Barry Silbert of fraud and called for his dismissal, but from the DCG itself. I received an objection. Elsewhere, Binance liquidated his over $75 million Shiba Inu token, Albright Capital dropped its lawsuit against Terraform Labs, and Crypto.com delisted his USDT for Canadian users. Plus an investigation into his USDC adoption on Ethereum.

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Cameron Winklevoss calls for immediate dismissal of DCG CEO Barry Silbert

Gemini co-founder Cameron Winklevoss has called on Digital Currency Group (DCG) shareholders to sack Barry Silbert as CEO for allegedly cheating Gemini’s acquired users. .

Cameron in an open letter murmured .

Genesis reportedly lost $1.2 billion due to the collapse of 3AC. However, Barry, DCG, and Genesis allegedly lied to Gemini and its users that DCG injected approximately $1.2 billion to support Genesis’ continued operations.

In light of the public lies against Gemini and its users, Cameron has asked the DCG board to proceed with the immediate dismissal of Barry Silbert.

DCG Classifies Gemini Co-Founder Claims as “Promotional Practices”

The Digital Currency Group (DCG) is responded Gemini co-founder Cameron Winklevoss called DCG a “hopeless and unconstructive publicity stunt” in response to recent allegations made against it.

Binance changed stakes to liquidate over $75 million on SHIB

At 08:00 UTC on January 10, Binance de-staked Shiba Inu (SHIB) worth $110.28 million and re-staked 4 trillion SHIB tokens. This equates to approximately $34.84 million. data Shared by Arkham Crypto Intelligence.

The transfer was made on ShibaSwap and $75.44 million, or 8.661 trillion of SHIB tokens were not staked. Tokens are stored in Binance’s 0xf97 wallet. These transactions also became the largest staking and unstaking transactions on ShibaSwap over several months.

Albright Capital Voluntarily Dismisses Lawsuit Against Dokwon, Terraform Labs

Investment firm Albright Capital has voluntarily dropped fraud charges against bankrupt Terraform Labs and its executives, including Do Kwon.

Following Terraform’s historic collapse in May 2022, Albright Capital, law firm Scott + Scott, and Bragar Eagel & Squire filed separate class action lawsuits against Terraform Labs.

Albright Capital lawsuit claimed that Terraform Labs was involved in the fraudulent promotion of UST, Terra (LUNA), and related Terra cryptocurrencies.

Crypto.com Delists USDT for Canadians

Cryptocurrency exchange Crypto.com will delist USDT and USDT trading pairs on its app and platform for Canadian residents at 06:00 UTC on January 31, according to an email shared with users in the jurisdiction. Exclude.

Crypto.com has urged Canadian users to check their USDT balances as Crypto.com will suspend all USDT trading after the above date.

Central Bank of Nigeria Moves to Regulate Stablecoins and ICOs

The Central Bank of Nigeria (CBN) said it would develop a regulatory framework to recognize stablecoins and initial coin offerings as investment classes.

The central bank said in it “Payment System Vision 2025” As private stablecoins have evolved into successful payment mechanisms in the country, they report that their operations need to be regulated.

The regulator added that it will work with relevant authorities to develop a regulatory framework to enable stablecoin offerings.

research highlights

Research: USDC adoption on Ethereum grows after FTX demise. USDT is flat

After a series of brutal events led to the collapse of several crypto-related companies in 2022, FTX’s bankruptcy has dealt a huge blow to public trust in the centralized crypto entity.

During this period of heightened market volatility, crypto investors preferred Circle’s USD Coin (USDC) over Tether’s USDT. USDT is the largest stablecoin by market cap, according to Glassnode data, while USDC has more transfer volume.

According to data, USDC remittance volume is $15 billion, while USDT remittance volume is $3 billion. Cumulatively, USDC outperforms USDT by $7 trillion.

crypto market

Over the past 24 hours, Bitcoin (BTC) rose 1.35% to trade at $17,461.18 while Ethereum (ETH) rose 1.44% to $1,340.81.

Biggest Gainers (24 hours)

  • Singularity Net (AGIX): 35.4%
  • Fetch (FET): 29.1%
  • WOO Network (WOO): 17.09%

Biggest Loser (24h)

  • HEX: -14.55%
  • Locus Chain (LOCUS): -5.17%
  • Bitcoin Gold (BTG): -4.03%
Posted In: Uncategorized, Wrapped

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