NewsBriefs - Celsius Network appeals against rejected $2B claim in FTX case

Jan 1, 10:00 PM Cryptoslate

Celsius Network appeals against rejected $2B claim in FTX case

Celsius Network has filed an appeal concerning Judge John Dorsey's decision to reject their $2 billion disparagement claim against the now-defunct crypto exchange FTX. The claim, which alleges that FTX's disparaging remarks significantly damaged Celsius's reputation and financial stability, was initially part of the broader legal struggle following both companies' bankruptcies. Despite amending the initial claim to $444 million centered on preferential transfers, the court dismissed it for procedural inadequacies. This appeal is set for review in District Court as part of ongoing litigation in the crypto industry.

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• Jan 3, 7:27 PM Cryptoslate

  MARA CEO predicts Bitcoin to reach $200k by 2025, emphasizes long-term growth

  MARA Holdings CEO Fred Thiel highlighted the potential of Bitcoin as a long-term growth asset, driven by increasing institutional involvement. In a recent interview, he encouraged retail investors to adopt a consistent investment approach, noting Bitcoin's historical average annual appreciation of 29% to 50%. Thiel also pointed out Bitcoin's accessibility through traditional financial platforms and the possible impact of favorable regulatory changes under a more crypto-friendly US administration. He additionally mentioned MARA's expansion in Bitcoin holdings and mining capacity.

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• Jan 3, 6:03 PM The Block

  Ethena targets neobank status with expansion into Telegram payments and institutional token iUSDe

  Ethena, a synthetic stablecoin protocol, is expanding to become a neobank by integrating its USDe stablecoin with innovative financial products and a native payment solution on Telegram. In 2025, Ethena plans to launch a new dollar savings product and iUSDe, a token for institutional use, aiming to blend crypto with traditional finance. The protocol's significant growth includes capturing a large share of onchain USD asset growth and integrating USDe with key crypto and CeFi markets. Ethena's developments are poised to transform its interaction with regulated capital markets and disrupt traditional financial mechanisms.

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• Jan 3, 9:26 AM Cointelegraph

  Virtuals Protocol fixes critical bug after white hat hacker's discovery

  Virtuals Protocol rapidley addressed a bug in their smart contract discovered by the white hat hacker, Jinu, and subsequently relaunched their bug bounty program. The bug, if exploited, could have stopped the generation of AgentTokens, significantly impacting the crypto's ecosystem. Despite the fix, the protocol has yet to offer a bug bounty reward to Jinu but has acknowledged the need for internal review to assess the issue's severity.

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• Jan 3, 3:13 AM Defiant

  Telegram introduces feature to convert digital gifts into NFTs

  Telegram is introducing a feature that allows users to transform digital gifts into unique non-fungible tokens (NFTs), stored on a blockchain and tradeable on NFT marketplaces. This integration into the messaging platform underscores a growing trend of incorporating blockchain technology into mainstream applications, enhancing options for users to exchange and monetize digital items. The feature includes customizable traits for each NFT, further emphasizing their uniqueness and potential rarity.

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• Jan 2, 1:00 PM FF News

  Binance receives regulatory approval in Brazil, marking its 21st global authorization

  Binance has secured regulatory approval in Brazil, adding to its list of global compliances and expanding its services in the country. This milestone is part of Binance's broader strategy to grow its presence and adhere to regulatory standards worldwide, with recent advancements also in Argentina, India, Kazakhstan, and Indonesia. The exchange emphasizes its robust compliance program, including AML, CFT measures, and a specialized unit to support law enforcement in addressing crypto-related crimes.

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• Jan 1, 10:00 PM Cryptoslate

  Celsius Network appeals against rejected $2B claim in FTX case

  Celsius Network has filed an appeal concerning Judge John Dorsey's decision to reject their $2 billion disparagement claim against the now-defunct crypto exchange FTX. The claim, which alleges that FTX's disparaging remarks significantly damaged Celsius's reputation and financial stability, was initially part of the broader legal struggle following both companies' bankruptcies. Despite amending the initial claim to $444 million centered on preferential transfers, the court dismissed it for procedural inadequacies. This appeal is set for review in District Court as part of ongoing litigation in the crypto industry.

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• Dec 31, 9:53 PM Beincrypto

  Switzerland considers adding Bitcoin as a reserve asset alongside gold

  Switzerland has initiated discussions led by the Swiss Federal Chancellery to potentially include Bitcoin as part of its national reserve assets, held by the Swiss National Bank (SNB). A new proposal requiring legislative amendment aims to place Bitcoin alongside the nation's substantial gold holdings in a bid to enhance Switzerland's financial innovation reputation and serve as a hedge against inflation. The proposal will require 100,000 signatures by June 30, 2025, to proceed further.

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• Dec 30, 8:05 PM The Block

  MiCA regulation takes effect, leaving USDT's status in EU uncertain

  The European Union's MiCA regulation has come into effect, introducing stringent requirements for crypto assets, including stablecoins like Tether's USDT, which has not yet received MiCA certification. This uncertainty affects USDT's status in the EU market, where its market capitalization has also declined recently. The regulation demands significant reserve holdings in EU banks, posing economic challenges for large issuers like Tether.

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• Dec 30, 5:30 PM GlobeNewswire

  AI real estate fintech Janover to accept Bitcoin, Ether, and Solana payments and considers crypto for treasury

  Janover Inc., an AI-enabled platform in the commercial real estate sector, announced plans to accept Bitcoin, Ethereum, and Solana for select services and is exploring treasury allocations in these cryptocurrencies. The company aims to leverage the growing acceptance and potential of digital currencies to provide more flexible and efficient financial transactions for its clients, aligning with trends in corporate strategy and financial markets.

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• Dec 30, 3:42 PM The Block

  Tether transfers 7,629 Bitcoin to strategic reserve from Bitfinex

  Tether has moved 7,629 BTC worth approximately $700 million from Bitfinex's hot wallet to its strategic Bitcoin reserve, marking the largest transaction to this reserve since March 2024. The stablecoin issuer, which began allocating up to 15% of its profits into Bitcoin in May 2023, aims to diversify its portfolio. Tether now possesses over $7.6 billion in Bitcoin, reinforcing its investment strategy amid expanding its holdings, which include US Treasury bonds and other assets.

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• Dec 30, 11:00 AM MoonPay

  MoonPay secures MiCA approval in the Netherlands

  MoonPay has received a MiCA license from the Dutch Authority for the Financial Markets, enabling it to continue offering crypto payment services across Europe. This aligns with the EU's MiCA regulation objectives to enhance consumer protection, market transparency, and stability. The license underscores MoonPay's commitment to regulatory compliance and its aim to expand and innovate within the European crypto ecosystem.

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• Dec 30, 2:59 AM The Block

  Malaysia's SC orders Bybit to stop operations for lack of registration

  Malaysia's Securities Commission (SC) has ordered Bybit, a crypto asset trading platform, and its CEO Ben Zhou to suspend operations due to the absence of proper registration as a Recognised Market Operator (RMO). The SC directed Bybit to halt its services across all digital platforms, cease advertising, and disband support groups in Malaysia, emphasizing the need for compliance to protect investors and uphold regulatory standards.

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• Dec 29, 5:30 PM Michele Korver | Head of Regulatory at a16z crypto

  a16z crypto supports Blockchain Association in lawsuit against IRS over DeFi broker rules

  a16z crypto has voiced its support for the Blockchain Association, DeFi Education Fund, and Texas Blockchain Council in a lawsuit against the IRS and US Treasury. This legal action challenges a new rule that mandates DeFi brokers to report user information starting in 2027, claiming it threatens privacy, exceeds government authority, and could negatively impact the US's role in the digital economy.

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• Dec 28, 1:30 PM Cointelegraph

  Blockchain Association challenges IRS on new crypto broker regulations

  The Blockchain Association has filed a lawsuit against the US Internal Revenue Service (IRS) challenging new regulations that expand the scope of crypto reporting requirements for brokers. These rules, effective in 2027, mandate that brokers, including decentralized exchanges and platforms involved in crypto transactions, disclose comprehensive transaction and taxpayer information. The Blockchain Association claims the regulations, requiring compliance from 2026, impose unreasonable burdens on software developers and infringe on privacy rights.

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• Dec 27, 5:29 PM The Block

  IRS finalizes rule requiring DeFi brokers to report user crypto trading details

  The IRS has enacted a rule necessitating certain decentralized finance brokers to adhere to tax reporting standards similar to those for traditional brokers. DeFi brokers must collect, report, and file user trading information using Form 1099, under an initiative set to improve tax compliance and simplify filing for taxpayers. This rule, which identifies brokers as 'front-end service providers' interacting directly with customers, aims to uniform tax treatment of digital assets with other financial assets and will take effect from January 1, 2027.

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