• Bitcoin (BTC) held above $23,000 on Friday as traders awaited the Federal Open Market Committee decision on interest rates.
• BTC surpassed $23,000 for the first time since mid-2022 about a week ago and has managed to stay in that territory.
• Traditional markets were also slightly up, with the S&P 500 Index up about 0.3%.

Cryptocurrency traders around the world were on high alert on Friday as they eyed the Federal Open Market Committee’s (FOMC) decision on interest rates, which could have a major impact on the markets. The largest cryptocurrency by market capitalization, Bitcoin (BTC), held steady above $23,000 as investors waited for the FOMC’s decision.

BTC had a roaring start to the year, with its price increasing by more than 40% since New Year’s Eve. It surpassed $23,000 for the first time since mid-2022 about a week ago and has managed to stay in that territory. Meanwhile, traditional markets were also slightly up, with the S&P 500 Index up about 0.3%.

Analysts have been cautiously optimistic about the prospects of Bitcoin, with Edward Moya, senior market analyst at foreign exchange Oanda, noting that “Bitcoin should still consolidate leading up to the Federal Open Market Committee (FOMC) decision, with risks to the downside if the Fed sticks to its hawkish mantra.”

The decision by the FOMC could have a major impact on the markets, as it will influence the direction of global interest rates. If the central bank decides to keep interest rates low, it could result in more investors looking to Bitcoin and other cryptocurrencies as a hedge against inflation.

The crypto rally has been fueled by a variety of factors, including an influx of institutional investors, an increase in mainstream adoption and a growing demand for digital assets. Some experts believe that the crypto market is in a bull market and that further gains are likely in the near term.

The FOMC’s decision will be closely watched by traders and investors around the world, as it could have a major impact on the markets. Regardless of the outcome, it is clear that Bitcoin is here to stay and that it is likely to remain a major player in the world of finance for the foreseeable future.

• Timothy Stranex, co-founder and chief technology officer (CTO) of cryptocurrency exchange Luno, departed in December to pursue personal projects.
• He was replaced as CTO by Simon Ince, who joined Luno just under two years ago as its vice president of engineering.
• Luno, which is a subsidiary of Digital Currency Group (also the parent company of CoinDesk), has over 10 million customers worldwide and offices in London, Singapore, Cape Town, Johannesburg, Lagos and Sydney.

Cryptocurrency exchange platform Luno has seen some changes at the top recently, with the departure of co-founder and chief technology officer (CTO) Timothy Stranex in December. Stranex had founded the company nearly 10 years ago alongside Carel van Wyk, Pieter Heyns and current CEO Marcus Swanepoel, and his departure has seen him replaced as CTO by Simon Ince, who joined the company just under two years ago as its vice president of engineering.

Luno, which is owned by Digital Currency Group (also the parent company of CoinDesk), has been operating for over 10 years, and has grown to become a global company, with over 10 million customers worldwide and offices in London, Singapore, Cape Town, Johannesburg, Lagos and Sydney. The company offers a secure platform for users to buy, sell, store and trade cryptocurrencies, as well as providing access to a range of educational resources and tools to assist users in understanding the cryptocurrency markets.

In addition to its exchange platform, Luno has also launched a range of initiatives to support the growth of the cryptocurrency sector, including the recently launched ‚Luno Ventures‘, which is an initiative to provide financial and technical assistance to startups in the space, as well as its ‚Luno Academy‘ program, which provides educational resources and support to those interested in learning more about blockchain technology, cryptocurrencies and trading.

The company also recently announced a new partnership with Visa, which will enable its users to buy, sell, store and spend cryptocurrencies directly from their Luno wallets. This new partnership marks a major milestone for the company, as it demonstrates its commitment to bring the benefits of cryptocurrencies to more people around the world.

All in all, Luno has established itself as one of the leading cryptocurrency exchanges, with its strong commitment to innovation, safety and security, and customer service. With the departure of Timothy Stranex and the appointment of Simon Ince as CTO, the company looks set to continue to grow and expand its services and offerings in the months and years ahead.

• Gemini, the crypto exchange owned by the Winklevoss twins, has terminated its crypto yield product, Gemini Earn, which had been in operation for nearly two years.
• This move requires Genesis Global Trading, Gemini’s partner in the program, to return all assets locked up in the program.
• The termination of the master loan agreement between Gemini’s customers and Genesis has escalated the dispute between the two companies.

Gemini, the crypto exchange founded by the Winklevoss twins, has recently ramped up its battle with Genesis Global Trading, a subsidiary of Digital Currency Group, with the termination of its crypto yield product, Gemini Earn. The move, which is set to take effect immediately, requires Genesis to return all assets that are currently locked up in the program.

Gemini informed its customers of the termination through an email sent out on Tuesday. Within the email, the company stated that this would officially terminate the Earn Program, and that any existing redemption requests would not be impacted. The email also stipulated that Genesis should fulfill any remaining requests as soon as possible.

In response to Gemini’s decision, Genesis released a statement expressing its disappointment. The statement noted that the whole process is complex and would take a bit of time to fully execute. However, the company did reiterate its commitment to ensuring a smooth transition for all of its customers and partners.

The termination of the master loan agreement between Gemini’s customers and Genesis marks a new chapter in the dispute between the two companies, which had been working together on the crypto lending product since 2019. The program had been advertised as a way for smaller investors to earn yield on their crypto assets, and had been operating successfully for nearly two years.

The exact reason for the sudden termination of the program remains unclear. However, it is likely that the move was spurred by the increasing competition in the industry, as more and more exchanges attempt to offer similar services. With the termination of Gemini Earn, the Winklevoss twins are now focusing their efforts on other areas of their business, such as custody and trading, in order to remain competitive in the space.

It remains to be seen how this decision will impact the ongoing relationship between Gemini and Genesis. Nevertheless, both companies are committed to ensuring a smooth transition and protecting the interests of their customers.

• Cryptocurrency exchange Kraken announced that it will deregister from the Financial Services Agency and exit Japan as of January 31.
• Bitcoin miner Argo Blockchain agreed to sell its Helios mining facility in Texas to Galaxy Digital for $65 million and will receive a $35 million loan from Mike Novogratz’s crypto-focused financial-services firm.
• Former FTX CEO Sam Bankman-Fried borrowed hundreds of millions of dollars from Alameda Research, the trading firm he owned, to purchase his stake in trading app Robinhood Markets.

Cryptocurrency exchanges have been experiencing a lot of changes and adaptations in recent months, with Kraken being the latest one to make major adjustments. Kraken, a large global cryptocurrency exchange, recently announced plans to deregister from the Financial Services Agency (FSA) and exit Japan as of January 31. The decision was made due to a combination of “current market conditions in Japan in combination with a weak crypto market globally” according to a blog post from the exchange. All Kraken users in Japan have until the end of the month to withdraw their fiat and crypto holdings, either transferring their crypto to another wallet or wiring Japanese yen to a local bank.

Another major player in the cryptocurrency industry, bitcoin miner Argo Blockchain, also made some important changes recently. In order to avoid filing for bankruptcy protection, Argo Blockchain agreed to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital for $65 million. Argo will also receive a new $35 million loan from financier Mike Novogratz’s crypto-focused financial-services firm. This loan will be secured by Argo’s mining equipment. The transaction will help Argo bolster its balance sheet and avoid bankruptcy after a deal for $27 million in funding fell through in October.

Finally, former FTX CEO Sam Bankman-Fried recently made headlines for his decision to borrow hundreds of millions of dollars from Alameda Research, the trading firm he owned, to purchase his stake in trading app Robinhood Markets. In an affidavit provided to a Caribbean court before his arrest, Bankman-Fried said he and FTX co-founder Gary Wang had used the borrowed funds to purchase equity in Robinhood and that he had personally borrowed $200 million from Alameda for the purchase.

These three major moves in the cryptocurrency industry highlight the ever-changing and unpredictable nature of the market. As more and more companies enter the space and more investors look to capitalize on the potential of digital assets, it’s clear that the industry is in a state of constant flux. It remains to be seen what other changes and developments will arise in the coming months.

• Ethereum completed its radical shift to a more energy-friendly system for powering its network in 2022.
• The Merge, the blockchain’s massive upgrade to a more energy-efficient system, cut the network’s energy consumption by around 99%.
• Concerns around censorship, record-shattering hacks, and the chain’s high transaction costs and slow network speeds were also prominent themes in Ethereum’s year.

In 2022, Ethereum made a radical shift to a new, vastly more energy-friendly system for powering its network. This monumental upgrade, known as the Merge, promised to reduce the network’s energy consumption by around 99% and marked the start of a new era for the blockchain.

However, despite the Merge’s successes, Ethereum’s year was also marked with problems. Censorship, record-shattering hacks, and the chain’s high transaction costs and slow network speeds were all prominent themes in Ethereum’s year, raising questions about whether the blockchain can ever truly become a global computer and decentralized financial system.

The Merge was Ethereum’s massive, years-in-the-making upgrade to a more energy-efficient system for processing transactions. The switch to proof-of-stake from proof-of-work was expected to drastically reduce the network’s energy footprint and put Ethereum on a path to becoming a deflationary asset.

However, the Merge also raised concerns about the blockchain becoming too centralized. Additionally, the event never spurred a long-hoped-for bump to the price of ether (ETH), the chain’s native currency, and the price of ETH has sunk more than 20% since the Merge.

Ethereum’s year was further marred by several other issues. Censorship concerns, record-shattering hacks, and the chain’s high transaction costs and slow network speeds all posed major challenges to the blockchain’s ambitions.

The censorship concerns stemmed from the blockchain’s new power structure, where validators „stake“ ether (ETH) with the chain for the chance to write transactions to its ledger. Meanwhile, the record-shattering hacks on Ethereum-linked infrastructure highlighted the blockchain’s susceptibility to malicious actors. In terms of transaction costs and network speeds, the Merge was unable to address these problems, leaving Ethereum still searching for solutions.

Overall, Ethereum’s 2022 was a rollercoaster of successes and challenges. Despite its progress toward becoming a global computer and decentralized financial system, the blockchain still faces significant issues that need to be addressed before it can reach its full potential.

• Kraken, a cryptocurrency exchange, announced it will deregister from the Financial Services Agency in Japan and cease operations in the country as of January 31.
• Users in Japan have until the end of January to withdraw their fiat and crypto holdings.
• The company has cited „current market conditions in Japan in combination with a weak crypto market globally“ as the main reason for its decision.

Cryptocurrency exchange Kraken recently revealed that it would be exiting Japan and deregistering from the Financial Services Agency (FSA) as of January 31. This news has sent shockwaves throughout the crypto industry, as many users in Japan now face the prospect of losing their funds.

Kraken was founded in 2011 and is one of the oldest and most established cryptocurrency exchanges in the world. The company has been operating in Japan since October 2017 and has seen significant growth in the past few years. However, the company has now cited „current market conditions in Japan in combination with a weak crypto market globally“ as the main reason for its decision to deregister from the FSA.

In order to ensure that users are able to withdraw their funds in a timely manner, Kraken has provided a timeline for users in Japan to withdraw their fiat and crypto holdings. Users have until the end of January to withdraw their funds, with the option of transferring crypto to another wallet or wiring Japanese yen to a local bank.

The news of Kraken’s exit from Japan has been accompanied by other changes within the company. In September, Jesse Powell, a co-founder of the exchange, departed from his role as CEO. He was to be replaced by Chief Operating Officer Dave Ripley. Then, two months later, the company cut 30% of its global workforce as the crypto market continued to stagnate following the collapse of rival exchange FTX.

Kraken has stated that it will now prioritize resources and investments to ensure the long-term stability of the exchange. This news has been met with mixed reactions, as some users are concerned about the implications of the company’s departure from Japan, while others are optimistic that the decision will ultimately prove beneficial for the future of the exchange.