• Global cryptocurrency trade volumes have dropped significantly in December 2022, dropping from $54.78 billion two weeks earlier to $22.95 billion on Jan. 1, 2023.
• 71.63% of all trades on Jan. 1, 2023, were paired with the cryptocurrency economy’s stablecoins, with tether (USDT) commanding $12.45 billion.
• Cryptocurrency trade volumes have been declining since Jan. 2022, with monthly spikes in May, Sept., and Nov. 2022.

The cryptocurrency industry has seen a significant decline in trade volume during the month of December 2022. Statistics from Dec. 1, 2022 to Jan. 1, 2023, show that global cryptocurrency trade volumes have dropped from $54.78 billion to $22.95 billion. This represents a 58.48% decrease in trade volume, which is a significant decline for the industry.

Further, on Jan. 1, 2023, data shows that 71.63% of all trades were paired with the cryptocurrency economy’s stablecoins. In particular, tether (USDT) commands $12.45 billion, which equates to 71.63% of the aggregate on that day. This indicates that the vast majority of trades are being conducted with stablecoins, which could be indicative of a lack of investor confidence in the cryptocurrency markets.

It is important to note that cryptocurrency trade volumes have been declining since Jan. 2022. During the year, there have been monthly spikes in May, Sept., and Nov. 2022. The November spike occurred amid the chaos surrounding FTX’s insolvency, and there were significantly higher daily trade volumes at that time. However, Dec. 2022’s total volumes were 46% lower than the month prior.

The decline in trade volumes could be indicative of a lack of investor confidence in the cryptocurrency markets. It is also possible that investors are taking a wait-and-see approach to the industry and are holding onto their assets until there is more certainty about the future. Additionally, the fact that a majority of trades are being conducted with stablecoins suggests that investors are taking a more conservative approach with their investments.

In conclusion, the cryptocurrency industry saw a significant drop in trade volumes during the month of December 2022. This could be a sign of a lack of investor confidence in the markets, or it could be indicative of a wait-and-see attitude from investors. Regardless, it is clear that the industry is still in a state of flux, and it will be interesting to see how the trade volumes evolve in the coming months.

• Draft law introducing rules determining how the digital ruble will be issued has been filed with the State Duma.
• The purpose of the proposal is to develop payment infrastructure for the digital ruble.
• Bank of Russia is assigned to be the sole operator of the CBDC platform.

The Russian State Duma has recently submitted a draft law devoted to the digital ruble, the central bank digital currency (CBDC) minted by Russia’s monetary authority. The legislation, proposed by a group of lawmakers led by the Chairman of the Financial Market Committee Anatoly Aksakov, introduces rules determining how the new form of national fiat will be issued and amends a series of legal acts to facilitate its implementation.

The document suggests legislative changes meant to create the conditions for the introduction of the digital ruble. The main purpose is to develop the necessary payment infrastructure for the CBDC which would provide Russian citizens, businesses, and the state with access to fast, convenient, and low-cost money transfers. In particular, the proposal aims to amend several existing laws such as the law on “On the National Payment System” to which the members of Duma want to add definitions pertaining to the CBDC.

The proposed changes assign to the Bank of Russia the role of sole operator of the CBDC platform. They also establish the procedures for opening wallets for the digital ruble and accessing its platform. An amendment to the law “On Currency Regulation and Currency Control” secures the status of the digital ruble as a currency of the Russian Federation and defines CBDCs issued by the central banks of other nations as foreign currencies. Additionally, changes to the Federal Law “On Personal Data” allow Russia’s central bank to process personal information related to the digital ruble.

The CBDC project is seen as a part of Russia’s National Digital Economy Initiative, which aims to modernize the state’s economy and make it more competitive in the global market. The government is hopeful that the project will help to attract more investments and create new jobs. The digital ruble is expected to become an important tool in the country’s financial and technological landscape and could be a significant step towards achieving financial inclusion.

• Venezuelan banking watchdog Sudeban is looking to monitor crypto-related transactions to preserve the stability of the bolivar.
• The organization is designing a system to review banking transactions in real-time with the help of the national cryptocurrency regulator.
• Analysts have linked the recent cryptocurrency drought in peer-to-peer markets due to the collapse of FTX, to the sudden rise in the Venezuelan dollar-bolivar exchange rate.

The Venezuelan banking watchdog Sudeban is working to preserve the stability of the bolivar, the nation’s currency, by monitoring crypto-related transactions. In order to do this, the organization is designing a system to review banking transactions in real-time with the assistance of the national cryptocurrency regulator. This system is aimed at fighting “irregular practices that attack our currency and the stability of the exchange market.”

The move to monitor cryptocurrency transactions comes as analysts have linked the recent drop in the value of the bolivar to the situation in peer-to-peer (P2P) crypto markets. Particularly, the sudden rise in the Venezuelan dollar-bolivar exchange rate has been attributed to the collapse of FTX, one of the largest crypto exchanges in Venezuela. This, combined with the natural abundance of fiat currency in the market due to holiday-related payments, has resulted in a cryptocurrency drought in P2P markets.

In line with this initiative, more than 75 bank accounts have been blocked since the end of 2021 due to suspicious activity related to cryptocurrency transactions. These suspensions are part of the government’s efforts to protect the value of the bolivar and the stability of the exchange market.

Sudeban’s move to monitor crypto transactions is not the first attempt by the Venezuelan government to regulate the cryptocurrency ecosystem. In November 2020, President Nicolas Maduro introduced the Petro, a state-backed digital currency. While the Petro has had limited success, it does highlight the government’s commitment to using cryptocurrencies to help stabilize the economy.

The Venezuelan government’s efforts to regulate crypto transactions in the country could have a positive impact on the economy. While the immediate effects of the new system are yet to be seen, it could be an important step in stabilizing the country’s exchange rate and protecting the value of the bolivar.

• Ethereum has transitioned from a proof-of-work (PoW) blockchain to a proof-of-stake (PoS) network, and the number of Ethereum validators is set to surpass 500,000 in 2023.
• Ethereum’s current issuance rate of new coins per annum is 0.014%, compared to the simulated PoW inflation rate of 3.58% per year.
• Since the Aug. 5, 2021 London Hard Fork, 2,795,773 ether or $8.78 billion in U.S. dollar value has been burned by destroying ETH.

Since Ethereum transitioned from a proof-of-work (PoW) blockchain to a proof-of-stake (PoS) network on September 15th, 2022, the number of validators has increased rapidly and is expected to surpass 500,000 by 2023. This shift has led to a significantly lower issuance rate of new coins, with only 4,790.45 ether having been minted since The Merge, according to metrics from ultrasound.money. This represents a drastic decrease in inflation compared to the simulated PoW inflation rate of 3.58% per year.

In addition to the lower issuance rate, Ethereum has implemented a burn mechanism that is actively destroying a substantial portion of the ETH supply. According to data from Dune Analytics, since the Aug. 5, 2021 London Hard Fork, 2,795,773 ether or $8.78 billion in U.S. dollar value has been burned by destroying ETH. This is the largest amount of ETH burned since Ethereum’s transition to PoS consensus and has had a significant impact on the network’s inflation rate.

The Ethereum network has seen a dramatic shift in the issuance rate of new coins since the transition to PoS consensus. This has resulted in a significantly lower inflation rate and a substantial amount of ETH burned, demonstrating the effectiveness of the new consensus algorithm. Ethereum’s transition to PoS consensus is a milestone for the network and is expected to have a positive impact on the network’s long-term growth.

• Onchain sleuths discovered funds connected to Alameda Research and FTX were moved and swapped for other tokens on Dec. 27, 2022.
• The hacker known as the ‘FTX Accounts Drainer’ traded large sums of ERC20 tokens for digital assets like tether, ethereum, and bitcoin.
• Onchain researchers noticed funds were swept into an ethereum wallet and sent to Fixedfloat or Changenow.

On December 27, 2022, a number of onchain researchers noticed suspicious activity involving funds connected to Alameda Research and FTX. The funds had been moved and swapped for other tokens, leading many to believe that a hacker known as the ‘FTX Accounts Drainer’ had been trading large sums of ERC20 tokens for digital assets like tether, ethereum, and bitcoin.

The onchain sleuths noticed that Ethereum addresses connected to Alameda had been swapping ERC20s for ETH and USDT. The digital assets were then sent to instant exchangers such as Fixedfloat and Changenow. This prompted alarm bells from onchain researchers, with one of them, Ergo, tweeting, “Alameda ETH addresses are digging around in the sofa for spare change and swapping bits ERC20s for ETH/USDT.”

This was further confirmed by another onchain sleuth, Zachxbt, who tweeted that the funds were being swapped for Bitcoin. He shared four different BTC addresses that had been sent roughly 11.9 bitcoin worth close to $199K using today’s BTC exchange rates.

The funds were then swept into an ethereum wallet, as Ergo revealed, and sent to Fixedfloat or Changenow, as confirmed by Martin Lee of Nansen. Lee also noted that there had been “lots of activity going on among Alameda wallets in the past 6-7 hours” involving various tokens on Ethereum that had been consolidated into two main wallets.

The activities of the FTX Accounts Drainer remain unknown, but the mysterious fund movements have left many onchain sleuths scratching their heads and wondering what the hacker’s motives could be. The fund movements are still being monitored and analyzed in an effort to determine the hacker’s identity and intent.

• In Jan. 2022, the market valuation of the stablecoin economy was $167.08 billion, and this week it is $139.06 billion, having lost over $28 billion in value.
• More than $3 billion has been erased from the stablecoin economy during the last 23 days, with BUSD losing 23.3%.
• TerraUSD (UST) has been particularly hard hit, with its market valuation dropping from $10.19 billion to $215 million.

The past year has seen a significant drop in the market capitalization of the stablecoin economy, with over $28 billion being lost in U.S. dollar value. This has been due to a number of factors, including the slump in the value of certain tokens, such as BUSD, which has decreased by 23.3% in the last month alone. This has led to a total of $3.08 billion being erased from the stablecoin economy in the last 23 days.

Tether (USDT) has been particularly affected, with its market cap dropping from $77.14 billion in January 2022 to $66.25 billion today. USD Coin (USDC) has also been hit, with its valuation decreasing from $42.74 billion 14 months ago to $44.28 billion this week. BUSD has also seen a decrease in its market capitalization, decreasing from $14.28 billion to $17.16 billion since January 2022.

However, none of these tokens have been affected as badly as TerraUSD (UST), which has seen its market valuation drop from $10.19 billion to just $215 million today. This means that in the last 23 days, UST has lost over 98% of its value, making it the worst-hit token of the last month.

Overall, the stablecoin economy has been in a state of flux over the course of the past year. The losses of the past 23 days have only exacerbated this, with a total of $3.08 billion being erased from the market capitalization of the stablecoin economy in that time. It is clear that further losses could be in store for the future, and investors should be aware of the risks involved when investing in stablecoins.

• Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, says now may be the last chance to buy gold and silver at low prices.
• Kiyosaki expects gold and silver prices to soar when the stock market crashes.
• Kiyosaki advises investors to buy physical gold and silver, not gold or silver exchange-traded funds (ETFs).

Robert Kiyosaki, the well-known author of the best-selling book Rich Dad Poor Dad, is warning that now may be the last chance to buy gold and silver at low prices. According to Kiyosaki, inflation and interest rates are moving up, and this could lead to a stock market crash, which would send gold and silver prices higher. He believes this may be the last opportunity to buy gold and silver at these current lower prices.

Kiyosaki has long been an advocate of investing in gold and silver as a hedge against stock market crashes. He has been giving this advice for years, and recently tweeted that the price of gold is now over $1,800 while silver is over $24. He also cautioned investors to not invest in gold or silver exchange-traded funds (ETFs), but instead buy physical gold and silver.

Kiyosaki’s advice echoes the advice of many financial advisors, who are also advocating the purchase of physical gold and silver as a way to protect one’s portfolio from market volatility. Many investors are concerned about the potential for a stock market crash, and Kiyosaki is urging them to take action before it’s too late.

For those looking to invest in gold and silver, Kiyosaki’s advice is to act fast. He expects gold and silver prices to soar when the stock market crashes, so now is the time to take advantage of the current low prices. He also advises investors to only invest in physical gold and silver, as opposed to gold or silver ETFs, as this is a more secure and reliable way to protect one’s investments.

Ultimately, Kiyosaki is urging investors to act now while they still can. Low gold and silver prices may not last long, and a stock market crash could send these precious metal prices soaring. For those looking to protect their portfolios from market volatility, Kiyosaki’s advice is to buy physical gold and silver before it’s too late.

• Argo Blockchain, a publicly-listed bitcoin miner, has requested the suspension of trading its company shares on Dec. 27.
• The company’s stock has lost 96.34% year-to-date and Argo is in advanced negotiations with a third party to sell certain assets in order to strengthen its balance sheet and improve its liquidity.
• Argo expects to make an announcement on Dec. 28, 2022, and trading is expected to resume following the announcement.

Argo Blockchain, a publicly-listed bitcoin miner, has requested the suspension of trading its company shares on Dec. 27, 2022. This follows a year of significant losses for the company, with its stock having lost 96.34% year-to-date. In an effort to strengthen its balance sheet and improve its liquidity, Argo is in advanced negotiations with a third party to sell certain assets. Following this, Argo expects to make an announcement on Dec. 28th, and trading is expected to resume following the announcement.

The suspension of its stock marks yet another difficult financial period for the bitcoin mining industry. Other publicly-listed bitcoin mining competitors have recently filed for Chapter 11 bankruptcy protection, including Core Scientific and Compute North. Furthermore, stats show that publicly traded mining firms collectively have debts of more than $4 billion.

Argo Blockchain is based in the UK and was founded in 2017. The company’s mining pool is one of the largest in the world and it has operations in Europe, North America and Asia. It is listed on both the Nasdaq and London Stock Exchange and has a market capitalization of around $90 million.

The news of Argo’s stock suspension comes at a time when the bitcoin mining industry is facing a challenging time due to the crypto winter. Many miners have been forced to close operations or reduce their mining operations due to the decrease in bitcoin prices. This has put a strain on the profitability of many miners, and as a result, Argo is taking steps to strengthen its balance sheet and improve its liquidity.

It is unclear what type of announcement Argo will make on Wednesday. However, the company’s decision to suspend trading its stock is a sign of the difficult times faced by the bitcoin mining industry. It remains to be seen how the announcement will affect the company’s stock and how the crypto winter will continue to impact the industry.

– Argo Blockchain, a publicly-listed bitcoin miner, requested the suspension of trading its company shares on Dec. 27, 2022
– The suspension of trading is due to an expected important announcement from the company on Dec. 28, 2022
– Argo Blockchain is one of many bitcoin mining operations that has suffered financially from the crypto winter

Argo Blockchain, a publicly-listed bitcoin miner, announced that it requested the suspension of trading its company shares on Tuesday, Dec. 27, 2022. This suspension of trading is due to an expected important announcement from the company on Dec. 28.

The company’s stock has lost 96.34% year-to-date and on Dec. 12, Argo was in “advanced negotiations with a third party to sell certain assets” in order to “strengthen its balance sheet and improve its liquidity.” The announcement that the company is expected to make on Wednesday could be related to this development.

Argo Blockchain is one of many bitcoin mining operations that has suffered financially from the crypto winter. During the first week of Nov. 2022, Argo’s stock was downgraded by the financial institution Canaccord Genuity and Jefferies analysts. Furthermore, Core Scientific, another publicly-listed bitcoin mining competitor, filed for Chapter 11 bankruptcy protection last week, and in late Sept. 2022, Compute North also filed for Chapter 11 bankruptcy protection. Stats show that these publicly traded mining firms collectively have debts of more than $4 billion.

Additionally, Argo accidentally published documentation that said the company was voluntarily filing for Chapter 11 bankruptcy protection. However, it was later revealed that the miner was in “advanced negotiations with a third party to sell certain assets” in order to “strengthen its balance sheet and improve its liquidity.”

In light of this, Argo Blockchain requested the suspension of trading its shares via Nasdaq and the London Stock Exchange. The company believes that trading will resume after they make their important announcement on Dec. 28.