CoinDesk

The collapse of Celsius and FTX led to more than 60% of Midas’ assets under management being withdrawn.

Avraham Eisenberg, the crypto investor whose “highly profitable trading strategy” drained DeFi trading platform Mango Markets of crypto worth $110 million, was arrested Monday in Puerto Rico, court documents said.

Pudgy Penguins NFT collection is setting new heights. The rising tide is lifting associated projects, too.

Ian McGinley, a partner at global law firm Akin Gump, discusses why the guilty pleas made by Caroline Ellison and Gary Wang may influence the disgraced CEO’s next day in court.

The U.S. Department of Justice (DOJ) has reportedly launched a criminal probe into the alleged hack that drained nearly $400 million out of FTX-controlled wallets the night the Bahamas-based exchange filed for bankruptcy.

Judge Lewis Kaplan has replaced Judge Ronnie Abrams, who recused herself because of a potential conflict of interest.

Sam Bankman-Fried said in an affidavit he bought Robinhood shares with funds borrowed from Alameda. The admission throws a wrinkle into a lawsuit from crypto lender BlockFi, which says it was promised the shares as collateral against a loan taken out by Alameda.

DeFi stablecoin exchange Mercurial is going to relaunch as Meteora and rebalance its tokenomics.

The technical foundation of DeFi has proven to be incredibly resilient to the catastrophic market events of the last few months. The opportunity for building a new generation of financial services on DeFi rails has never been bigger, but the space needs to address some notable challenges.

The Financial Services Agency is seeking feedback on new stablecoin regulations set to take effect in 2023.

Industry leading layer 1 blockchains must collaborate on policy engagement, delivering a uniform message that regulatory clarity is needed beyond Bitcoin and Ethereum.

An attempt to bridge the gap between good-faith advocates of both networks and show how the two largest crypto networks’ development processes matter for long-term success.

The company said earlier this month it was close to restructuring without having to declare bankruptcy.

In an open letter, the firm said earlier offers were misrepresented and it wanted to deal directly.

Bitcoin held steady throughout the Christmas holiday weekend at about $16.9K; most other major cryptos were flat, although tinted more green than red. Also: CoinDesk columnist David Z. Morris considers an upside to this year’s various crypto industry debacles.

DeGods will bridge over to Ethereum while its sister project Y00ts will move to Polygon with a grant from the layer 2’s partnership fund.

The hack, which some observers had characterized as a rug pull, was estimated to have netted $12 million.

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The two started negotiations earlier this year and signed an initial agreement in July.

Computing power on the Bitcoin network dropped about 40% over the weekend.

The total value of funds locked on the protocol had dropped to less $93,000 on Dec. 25 from about $13 million, Defi Llama data show.

The FTX fraud, the Three Arrows Capital collapse, bitcoin maximalist rhetoric, centralized blockchains and privacy deniers, haters and destroyers were just a handful of the things that irritated CoinDesk research associate George Kaloudis in 2022.

A year of steep declines in crypto markets brought another unwanted element – a dramatic increase in scams including “rug pulls.”

Despite being one of the biggest cryptocurrencies, with a market capitalization around $40 billion, Binance’s BNB token has failed to win a listing on any major U.S. crypto exchanges, aside from Binance.US. Some analysts are now looking at whether that’s a yellow flag.

Lawsuit seeks at least $250,000 of damages.

Assets will have to comply with current regulations approved this week by the country’s outgoing President Jair Bolsonaro.

Despite the headlines, the industry still has a lot to offer the world, says the Giving Block’s Pat Duffy.

Fraudsters deployed over 117,000 scam tokens from January through Dec. 1, a 41% increase over the full 2021, according to study from Solidus Labs.

Crypto regulation remains a dark forest. In the year ahead, the SEC and CFTC will likely push the boundaries of their existing authorities through novel enforcement actions, says attorney Mike Selig.

According to a report based on data pulled through Dune Analytics, the shady trades accounted for over half of the total NFT trade volumes in 2022, and nearly 45% of all-time NFT volume.