Welcome back to Crypto Inida Weekly Update Section on Binance Feed, your source for the latest and most relevant news in the crypto market!

As the last week of Jan 2023 ends, let us look at news & events.

Prosecutors seized $50 million from SBF's Farmington State Bank account, which had only three employees. Alameda Research bought an $11.5 million stake in Farmington last March.

DCG-owned #crypto exchange Luno to fire 35% staff due to extreme market conditions!

Genesis owes $3.5 Billion+ to various creditors.

Genesis is seeking $20.9 Million from Roger Ver for failing to settle cryptocurrency options transactions that expired on Dec. 30, 2022

SEC denied ARK & 21 shares #Bitcoin ETF listing for the second time #SEC so far has not approved any spot Bitcoin ETF to be listed on an exchange. Grayscale sued the SEC for rejecting its proposal to list their GBTC ETF.

#Tesla released its Q4 2022 financial report highlighting no bitcoin-related transactions in Q4 Tesla currently holds about 9,720 bitcoins, and the average purchase cost per bitcoin is about $32,099

El Salvador Announced that they had repaid the $800 million eurobond debt in full, along with interests. Major news outlets were reporting that due to volatile fluctuations in the crypto market & financial weakening of El Salvador, they won’t be able to pay their $800 Million debt

Vitalik Buterin highlighted privacy as the "largest remaining challenge" on ETH Vitalik said that the "Ethereum ecosystem involves making a portion of your life public for anyone to see and analyze" he Also discussed the concept of stealth addresses for anonymizing transactions.

De Nederlandsche Bank imposed an administrative fine of €3.3 Million on Coinbase for providing #crypto services in the Netherlands without any registration with DNB, which is in non-compliance with the law.

Thank you!

See you next week!

Crypto India Team

It's been reported that the Washington, DC brownstone linked to fallen FTX Founder, Sam Bankman-Fried, has hit the market for nearly $3.3 million. This 4,100-square-foot property comprised of four bedrooms and five bathrooms is just one of the properties that Sam Bankman-Fried is likely to offload as the feds seized almost $700 million in cash and assets, according to court filings from last Friday.

The house was bought by his brother Gabe Bankman-Fried's nonprofit, Guarding Against Pandemics, which Sam Bankman-Fried partly funded, last April, at the same price for which it's now listed. Shortly before FTX's implosion, the pandemic-preventing nonprofit hosted two back-to-back parties at the address, one for democratic dignitaries and the other for republican hotshots, both with a vegan-heavy menu.

A four-story Victorian brownstone, features of the home include 10-foot ceilings, an elevator that services the entire house, and a large chef’s kitchen that was recently updated and comes with a walk-in pantry. The dining room features built-in shelving and display cabinets, and there is also a custom temperature-controlled wine fridge. Meanwhile, the main-floor primary bedroom boasts double walk-in closets, a personal washer and dryer, and a gas fireplace.

It's worth noting that this move to list the property comes a month after Sam Bankman-Fried was released on a $250 million bond secured by the equity in his $4 million family home in Palo Alto, California, where he is also currently under house arrest.

Devon Fox with Pearson Smith Realty holds the listing.

As more details about the case of FTX's implosion come to light, it remains to be seen what other assets and properties linked to Sam Bankman-Fried will hit the market in the coming weeks and months.

Introducing the Weekly Update Section on Binance Feed

We are excited to announce a new section on our Binance feed - a weekly report of the most important events and developments in the crypto market. This report, which will be released every Monday, will keep you up-to-date with the latest news so you can stay informed while focusing on your DCA strategy.

Genesis & its subsidiaries filed for Chapter 11 bankruptcy protection in New York. The bankruptcy filing shows Genesis owes $3.5 Billion or more to over 100k creditors, including Gemini, Bybit's investment arm Mirana, Decentraland & many more.

In an attempt to strengthen its finances, DCG is looking to sell Coindesk. In response to the current market environment, DCG also suspended dividends to shareholders until further notice.

U.S. authorities seized the crypto website Bitzlato as part of international enforcement action. The exchange's founder, Bitzlato, was arrested in Miami for alleged money laundering.

The founders of 3AC, Zhu Su & Kyle Davis & the founders of CoinFlex, plan to launch a new project-GTX, raising a seed fund of $25m.

In his first public interview since taking over the failed cryptocurrency exchange, John J. Ray III said he's open to rebooting operations. He said he has set up a task force to explore restarting FTX.

Attorneys handling FTX bankruptcy recovered $1.7 billion of cash, $3.5 billion of liquid cryptocurrency and FTT tokens, and $0.3 billion of liquid securities.

196 out of the 535 members in the U.S. Congress received the money in the form of political donations from SBF & his team at FTX, as per the Coindesk report. This 37% of Congress members receiving donations from FTX will decide U.S. cryptocurrency regulations.

Russia & Iran are looking into developing a stablecoin that would be backed by gold as a means of payment in transactions involving international trade. National Australia Bank to create a stablecoin called $AUDN on $ETH & $ALGO , backed one-to-one with Australian fiat.

Japan is urging the world's regulators to treat crypto exchanges as strictly as they do banks, adding to the calls for stricter rules following the collapse of FTX.

Regarding crypto, I.T. Minister Shri Rajeev Chandrasekhar said: There is nothing today that outlaws crypto as long as you follow the legal process. So if you want to invest in crypto, make sure you go through the RBI, get your LRS eligibility, and the dollars as per the rules.

We hope you find this weekly update informative and helpful in keeping up with the market.

Stay tuned for more updates and insights by following us on Binance Feed! We look forward to bringing you more valuable content in the future.

Crypto India Team