Crypto News 13 Dec 2022

Please find below today’s Crypto News 13 Dec Headlines

Crypto News 13 Dec #1 – Ark Invest Adds Coinbase Stock as Crypto Exchange’s Price Slides

Cathie Wood’s Ark Investment Management said in an email it bought 78,982 shares in cryptocurrency exchange Coinbase (COIN), its first investment in the crypto exchange in a month.

Crypto News #2 – US senator calls on SEC’s Gensler to answer for ‘regulatory failures’

Republican Senator Tom Emmer has long been a critic of Gary Gensler and the U.S. Securities Exchange Commission’s cryptocurrency oversight strategy.

Minnesota Senator Tom Emmer has slammed U.S. Securities Exchange Commission (SEC) Chairman Gary Gensler for his flawed “crypto information-gathering efforts,” saying that Gensler should appear before Congress to explain the cost of his “regulatory failures.”

Crypto News 13 Dec #3 – Top U.S. Attorney Says Ripple Will Not Loose Because LBRY Lost

Founder of Crypto Law, attorney John Deaton, has expressed confidence that the outcome of LBRY’s lawsuit will not determine Ripple’s case. In a Twitter thread, attorney Deaton explained why he thinks Ripple will not lose its case against the SEC based on the outcome of the LBRY lawsuit.

Crypto News #4 – Bank of England opens applications for ‘proof of concept’ CBDC wallet

The Bank of England (BOE) is seeking a “proof of concept” for a wallet that will be able to hold a Central Bank Digital Currency (CBDC). On Dec. 9, the BOE posted a request for applications on the United Kingdom government’s Digital Marketplace, a service where government organizations can solicit work for digital projects.

Crypto News 13 Dec #5 – 63 Arrested by China Police for Laundering Money Using Crypto

Chinese police arrested 63 people for laundering US$1.7 billion via cryptocurrency The gang collected illicit funds from online pyramid schemes, fraud, and gambling, and converted the proceeds into Tether, a stablecoin pegged to the US dollar.

Crypto News #6 – Investors Pull Crypto From Exchanges At Record Rate

Crypto investors are pulling bitcoin from exchanges at a rate of 106,000 per month, a near-record amount as the FTX collapse shakes faith in central platforms.

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Crypto News 13 Dec #7 – Constant Blackouts Have Ruined Cryptocurrency Mining Investments in Cuba

Several small investors have manifested that the constant blackouts in several parts of Cuba have made cryptocurrency mining unsustainable, leaving them unable to operate their rigs. The blackouts also affect telecommunications, leaving some of these operations that rely on off-grid power plants without the internet needed to complete mining tasks.

Crypto News #8 – The Block CEO resigns after reports of undisclosed loans from Alameda Research

Michael McCaffrey, the chief executive officer of cryptocurrency news outlet The Block, resigned after media website Axios reported early Saturday, Hong Kong time, that he had received three undisclosed multi-million dollar loans from Alameda Research, the brokerage arm of failed digital assets exchange

Crypto News 13 Dec #9 – Exchange CEO Says Self-Custody Is Safer For Bitcoin Investors

Ray Youssef, the CEO of crypto exchange Paxful, has gone against the trend by advising users to switch to self-custody. Self-custody will see users move their bitcoins and other cryptocurrencies to external hardware wallets.

Crypto News #10 – CZ Criticizes ‘The Block’ For Intentionally Reporting Against Binance

CZ Criticizes ‘The Block’ For Intentionally Reporting Against Binance. Binance CEO, Changpeng Zhao (CZ). Binance CEO comments on SBF’s secret loan to The Block news outlet.

Crypto News 13 Dec #11 – Ethereum Issuance Drops to Zero as XEN Minters Burn Gas

Ethereum Issuance Drops to Zero as XEN Minters Burn Gas Ethereum is about to switch back into deflationary issuance. This generally happens when on-chain activity and gas consumption increase. On-chain activity on the Ethereum network has increased over the weekend. The uptick has resulted in more gas being used which means more ETH being burnt.

Crypto News #12 – Armstrong Tweets About Coinbases’ ‘Advance Trade’ Feature

Brian Armstrong, the co-founder, and CEO of Coinbase, tweeted about a Coinbase feature for professional traders called Advance Trade. The CEO of Coinbase claimed that the Advance Trade feature can be used across the web and mobile.

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