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• Hudson Jameson, a core developer liaison from the Ethereum Foundation, has joined Polygon.
• Polygon is an Ethereum sidechain and layer-2 platform that permits high transaction processing and low fees.
• At Polygon, Jameson will be working with the governance team to help the sidechain achieve its vision and align with Ethereum’s values.

Hudson Jameson Joins Polygon

Hudson Jameson, a core developer liaison who previously worked with the Ethereum Foundation, has joined Polygon. He was also a committee member of the Zcash Open Major Grants (ZOMG). This week marks his first week at his new job.

About Polygon

Polygon is an Ethereum sidechain and layer-2 platform that allows for fast transactions and low fees. It acts as an interoperable platform with the Ethereum virtual machine which enables dApps launching on its rail to connect with those in Ethereum.

Jameson’s Role at Polygon

At Polygon, Jameson will work with the governance team to help further their vision of being compatible with Ethereum’s values and success. In addition, he will offer assistance in other areas of the organization in order to ensure that the project moves forward according to plan.

Why Join Polygon?

Prior to joining full-time at Polygon, Jameson had been advising them for some time and held meetings with co-founder Mihailo Bjelic even before they launched. Since then, he believes they have grown tremendously and succeeded in many aspects of their goals. Furthermore, he believes that being part of this project can give him a chance to contribute meaningfully towards achieving success for both sides – himself as well as for Polygon’s projects.

Final Thoughts

Despite battling health problems during his break year from February 2022 until February 2023 along with getting his medicine right plus working with therapists – he states that he is now better mentally prepared than ever before to take on such an endeavor full-time at an organization like this one. As such – MATIC’s price trends are currently trending upwards daily due to potential investors taking note of this news surrounding him joining team Polygon

• The US Bankruptcy Court for the District of Delaware recently revealed an agreement between Alameda Research and N. Abu Dhabi sovereign wealth fund to sell Alameda Research’s interest in Sequoia Capital.
• Judge John Dorsey has already signed off on assets for FTX Europe, FTX Japan, Embed, and LedgerX and also approved a $445 million claim by Alameda Research against Voyager Digital.
• Sam Bankman-Fried and other employees at FTX have been attempting to raise cash after Binance stopped processes to buy the exchange.

FTX Exchange Bankruptcy Proceedings

The bankruptcy proceedings of the FTX exchange have seen many discoveries, rejected pleas, and sales of assets by its sister company Alameda Research and former CEO Sam Bankman-Fried.

Alameda Research Sells Interest In Sequoia Capital

A recent court document revealed an agreement between Alameda Research and N Abu Dhabi sovereign wealth fund to sell Alameda Research’s interest in Sequoia Capital. This deal was worth $45 million and could be finalized if approved by the Delaware bankruptcy judge John Dorsey.

Dorsey Signs Off On Assets Of FTX Europe & Others

Judge John Dorsey has already signed off on assets for FTX Europe, FTX Japan, Embed, and LedgerX along with approving a $445 million claim by Alameda Research against Voyager Digital. These steps were taken so that FTX can recover more than $5 billion in liquid crypto assets and cash from the sale of these assets.

Attempts To Raise Cash By SBF & Employees At FTX

Sam Bankman-Fried and other employees at FTX have been attempting to raise cash after Binance stopped processes to buy the exchange. Reuters reported that SBF had used a weekend in November 2022 to make notable attempts towards raising cash which has yet not seen fruition as of now.

Conclusion

The saga of the FTX exchange continues with various developments such as selling its interest in Sequoia Capital to N Abu Dhabi sovereign wealth fund along with attempts made by SBF & employees at FTX towards raising cash after Binance halted their process of buying out the exchange being reported regularly since its bankruptcy filing last year.

• Bitcoin’s price dropped on Saturday, causing the majority of the crypto market to follow suit.
• Investors expect more downtrend for BTC with a 5.67% decline predicted by the end of March.
• The Crypto Fear & Greed Index is currently neutral but could easily turn negative due to low prices.

Bitcoin Price Plunges On Saturday

The crypto market was met with bearish trends when the largest cryptocurrency by market cap, Bitcoin, experienced a price drop on Saturday. The digital asset dragged most of the market down with it as investors expect more downtrend in its value even as March just started.

Negative Expectations for Bitcoin

Coinmarketcap’s Price Estimates feature collects votes from community members regarding the expected price of a digital asset going forward. For bitcoin, 11,000 votes were collected and the median price expectation was $21,084 – representing a 5.67% decline from current prices. This would mean that bitcoin will have to lose another $1,200 from its value in order to meet expectations by the end of March and plunge the crypto market further into bear territory.

Investor Sentiment Neutral But Can Turn Negative Easily

The Crypto Fear & Greed Index shows investors are still feeling very neutral when it comes to cryptocurrency markets right now but it can quickly turn negative if prices continue to remain low and cause fear among investors who want to get out before they incur losses.

Meme Coins Are Holding Strong

Amidst this bearish sentiment there are some meme coins that have seen green in contrast to all other cryptocurrencies which were affected by Bitcoin’s fall-off. BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Wild.io offers 570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day!

Conclusion

The crypto market is still reeling from Bitcoin’s crash on Saturday and investors remain pessimistic about its future as they expect further declines throughout March and beyond if nothing changes soon in terms of sentiment or regulations surrounding cryptocurrencies worldwide. Some meme coins have managed to hold their own amidst this bearish trend while others struggle against it – only time will tell what direction we can expect this market to take in coming months!

• Bitcoin active addresses measure the daily total amount of Bitcoin addresses that are participating in some transaction activity on the chain.
• The metric has seen some increase with the latest rally in the price of Bitcoin, but the rise has still not been too significant compared to previous cycles at a similar stage.
• An analyst noted that market activity rapidly changed after the bottom formed during the previous cycles.

What Are Active Addresses?

Bitcoin Active Addresses measure the daily total amount of Bitcoin addresses that are participating in some transaction activity on the chain. The metric only measures unique addresses, meaning that if an address takes part in multiple transfers in a single day, it’s still counted only once. This indicator also accounts for both senders and receivers in this measurement. When this value is high, it means a large number of users are making transactions on the network right now and when it is low, it implies not many users are engaging with cryptocurrency currently.

Previous Cycles

As pointed out by an analyst in a CryptoQuant post, market activity rapidly changed after the bottom formed during previous cycles. During bear markets, price is usually consolidating which leads to less interest from traders while volatile moves result in investors rushing to trade hence why active address metric can show elevated values at such times.

Recent Activity

The chart below shows how Bitcoin active addresses have been trending over last few years:

Looks like value of metric hasn’t moved much recently | Source: CryptoQuant

Recently there has been some improvement registered in this indicator as well as some increase with recent rally in price of Bitcoin but rise has still not been too significant compared to previous cycles at similar stage.

FTX Collapse

A recent example of sudden activity return can be seen around time of FTX collapse where as soon as price began moving sideways again following crash active addresses also sunk down again.

Conclusion

Demand for Bitcoin has been returning recently however growth rate has been slower than what was seen at similar stages during earlier cycles as measured by active address metric which tracks daily amount of bitcoin addresses taking part in transaction activities on chain.

• Binance, the largest cryptocurrency exchange in the market, is reportedly considering ending relationships with U.S. business partners due to a tightening in regulatory policies by the SEC.
• The SEC has alleged that BUSD, a stablecoin pegged to the US dollar, is a security and sued crypto firm Paxos.
• Binance CEO Changpeng Zao denied the allegations on Twitter and clarified that Merit Peak is neither trading nor providing services on Binance.US platform.

Binance Considering Delisting Tokens from US-Based Firms

According to a Bloomberg report, crypto exchange Binance is considering ending relationships with U.S. business partners due to a tightening in regulatory policies by the Securities Exchange Commission (SEC).

SEC Alleges BUSD as Security & Sues Crypto Firm Paxos

The SEC has alleged that BUSD, a stablecoin pegged to the US dollar, is a security and sued crypto firm Paxos. In addition, the report said that Binance is reassessing investments in the United States as regulators do not license it to operate in U.S..

Binance CEO Denies Allegations

Binance’s CEO Changpeng Zao (CZ) denied these allegations in a Twitter post clarifying that Merit Peak is neither trading nor providing services on Binance.US platform and only its subsidiary’s employees have access to it.

Controversy around $400 Million Movement from Secret Account

Recently there have been controversies around $400 million movement from “secret” account paired with its subdiary Binance.US involving crypto-friendly bank Silvergate which was sent to trading firm Merit Peak owned by CZ which had invested over $1 million into Biance’s subsidiary earlier this year according to Reuters report .

Crypto Market Experiences Rough Q1 Amid Intense Regulatory Scrutiny

Amidst intense scrutiny from U.S regulators,the crypto space has had turbulent times during this quarter making investors uncertain of their investments despite recording slight rise in prices of some cryptos recently .

• The Securities Exchange Commission (SEC) and Kraken have recently settled a case regarding the crypto exchange’s staking program.
• SEC Commissioner Hester M. Pierce argued that this staking program should have been registered with the SEC as a securities offering.
• Commissioner Pierce believes that the SEC should have provided guidance on the staking programs instead of taking an enforcement action against Kraken.

SEC Settles Case Regarding Kraken’s Staking Program

Following the settlement reached by Kraken and its subsidiaries Payward Ventures and Payward Trading with the Securities Exchange Commission (SEC) on February 9, covered by Bitcoinist, Commissioner Hester M. Pierce stated in a report that she disagreed with and dissented with the closure of the crypto exchange’s staking program.

Staking Program Should Have Been Registered As A Security

The regulator argued that this staking program should have been registered with the SEC as a securities offering. SEC Commissioner Pierce, also known as “Crypto Mom,” argues whether or not registration would have been possible in the current crypto-related climate: An offering like the staking service at issue here raises a host of complicated questions, including whether the staking program as a whole would be registered or whether each token’s staking program would be separately registered, what the important disclosures would be, and what the accounting implications would be for Kraken.

Solution Or Poor Judgement By The SEC?

The Commissioner stated that the SEC has been aware of the staking programs for an extended period. Thus, she suggests the SEC should have set guidance on the staking programs “long before this situation cracked” rather than using enforcement actions to inform people what law is in an emerging industry . Most concerning is that our solution to a registration violation is to shut down entirely a program that has served people well according to Commissioner Piers which she calls “paternalistic and lazy regulator”.

Kraken Forbidden From Offering Stake Services In U.S.

Kraken’s staking program will no longer be available in United States registered or not since they are forbidden from ever offering such service again by SEC due to their recent settlement agreement.

Commissioner Calls For Guidance Instead Of Enforcement Actions

Commissioner Pierce states that one-off enforcement actions and “cookie-cutter” analysis do not provide solutions for crypto investors in US therefore she calls for more guidance from regulators rather than strict enforcement actions when dealing with these kinds of situations especially when it comes to emerging industries such as cryptocurrency market where new regulations are still being established and enforced today.

• FTX is warning customers of an ongoing scam where fraudsters are impersonating the exchange and asking for money or passwords.
• This is not the first time bad actors have attempted to take advantage of FTX’s troubled situation. Earlier, a fake video had popped up on Twitter impersonating the exchange’s founder.
• The Oregon Division of Financial Regulation also warned investors against a cryptocurrency scam involving FTX in December.

FTX Warns Customers Against Crypto Scam

The embattled crypto exchange FTX is warning its community about an ongoing scam targeting its investors. Bad actors are trying to deceive users by offering them the return of their lost funds from the exchange’s bankruptcy in November, demanding money or sensitive information in return.

Fraudsters Impersonate Exchange & Founder

To target potential victims, scammers offer the return of their lost funds while impersonating the platform. Additionally, days after FTX filed for bankruptcy in November, a fake video popped up on Twitter which was designed to look like it was from Sam Bakman-Fried (SBF), founder of FTX, asking users to go to an unsafe website to “double their crypto funds.”

Oregon Division Of Financial Regulation Warned Investors

Furthermore, a month after FTX’s downfall, Oregon Division of Financial Regulation also issued a warning to investors against a cryptocurrency scam involving FTX. Consequently, this new attack vector tries to bait victims by requiring account passwords or payment as fees for allegedly transferring back funds.

FTX Team Confirms No Agents Ask For Payment

While addressing its community in a recent tweet, the FTX team confirmed that neither debaters nor any agents will ask users for money or payments or any passwords for accounts related with recovery efforts and reassurance their customers that no such request should be met with compliance.

Bitcoin Price Rises Above $23500

At press time Bitcoin’s price stands above $23500 according to daily chart from TradingView. Additionally, scammers have been continuously attempting various strategies since then to cause losses among unsuspecting victims investing in cryptocurrencies even though regulatory authorities have been actively monitoring these occurrences and taking necessary actions against it.

• California is now launching a pilot program to manage automotive ownership records through a blockchain-based solution on the Tezos chain.
• This program is being developed and implemented by Oxhead Alpha and will look to reinforce immutability, reduce and optimize necessary manpower and reduce potential errors with record changes.
• California’s Chief Digital Transformation Officer Ajay Gupta stated that these solutions would result in reduced workload, economic benefits and auditability.

The State of California is looking to revolutionize the way it keeps records of automotive ownership with a new pilot project. The project, developed by crypto software firm Oxhead Alpha, will be utilizing a specific set of smart contracts on the Tezos blockchain to manage state records surrounding automotive ownership.

With this project, the state hopes to create a more efficient, reliable and secure system for recording and verifying automotive titles and registration. By using blockchain technology, the state can ensure immutability and reduce potential errors in record changes. Additionally, the use of smart contracts can also help reduce the necessary manpower and workload needed to manage the records.

The project is being spearheaded by California’s Chief Digital Transformation Officer, Ajay Gupta. In a statement, Gupta stated that these solutions “would avoid repeated verification steps for customer and State/public service entities, resulting in reduced workload, economic benefits and auditability.”

The success of this pilot project could set a precedent for other states to follow and could serve as a major point of institutional-level crypto adoption. If successful, this project could revolutionize the way states manage, store and verify records related to automotive ownership.

In the meantime, Oxhead Alpha will be hard at work on developing the project and testing it out. If the team is successful in implementing the project and validating its efficacy, then the project could become the standard for all states to use when it comes to managing automotive titles and registration records.

•An annual report from on-chain analytics firm Chainalysis on ransomware attacks highlights a significant decrease in these activities in 2022.
•The total funds from ransomware that hackers received from victims plummeted to $456 million in 2022 from $765.6 million in 2021.
•This decrease is due to organizations applying stricter cybersecurity measures and victims refusing to pay ransom to cybercriminals.

The cryptocurrency sector has been a target of hackers and cybercriminals for some time now, leading to an increase in the number of ransomware attacks and money laundering activities. In an effort to bring more transparency to the crypto industry, global regulators have been pushing organizations to apply stricter cybersecurity measures. This, in turn, has led to a significant decrease in ransomware attacks according to an annual report from on-chain analytics firm Chainalysis.

The report states that the total funds from ransomware that hackers received from victims plummeted to $456 million in 2022 from $765.6 million in 2021. It is believed that the decrease is due to organizations standing up to criminals instead of paying them. This is not to say that the attacks are down, as Chainalysis believes that much of the decline is due to victims refusing to pay the attackers.

The increased pressure from global regulators to bring more transparency to the crypto industry has certainly played a role in decreasing the number of ransomware attacks. However, the efforts of victims to stand up to criminals instead of succumbing to their demands has also contributed to the decreasing trend.

As the crypto sector continues to grow, it is important that users remain vigilant and take additional measures to protect their data and funds from malicious actors. While global regulators are doing their part to ensure the safety of users, it is ultimately up to the individuals to ensure their own security. By taking a stand against cybercriminals and implementing the latest security measures, users can help protect themselves from potential attacks.

• 15 individuals were detained on suspicion of running a large-scale crypto scam operation
• The criminal gangs operated call centers, employing 200 ‘traders’ to target victims in different languages, offering deceptive investment options in cryptocurrencies and commodities
• Victims from Germany, Austria, Switzerland, Canada, and Australia have lost millions of euros as a result of the scam

European authorities recently shuttered a large-scale operation of call centers and detained 15 suspected crypto scam individuals in raids conducted on January 11, 2023. The operation was conducted after German authorities requested an investigation in June of last year. Europol, in collaboration with the national law enforcement of Bulgaria, Cyprus, and Serbia, launched raids in 22 different sites. The operation resulted in the capture of 15 people, 14 of them in Serbia and one in Germany.

The criminal gangs operating the fraudulent call centers employed 200 “traders” who used different languages, such as English, Russian, Polish, Hindi, and German, to prey on victims by offering deceptive investment options in cryptocurrencies and commodities. The victims were defrauded of at least 3,000,000 euros per month. Investigators believe that German victims have lost more than 2 million euros, but disclosed that victims from other nations have also fallen prey to the fraudsters.

The investigation revealed that the criminals used a wide variety of tactics to scam their victims. They used fake accounts and websites, as well as false promises of high profits, to lure victims into investing in their counterfeit digital currencies. They also used sophisticated technology to stay one step ahead of law enforcement.

The scammers were also adept at using social engineering techniques to gain the trust of their victims. They used fake Facebook profiles, manipulated search engine results, and even sent fraudulent emails to potential victims.

The Europol investigation has so far been successful in shutting down the massive crypto scam. However, it is expected that similar operations may be carried out in the future, as fraudsters attempt to make money off of unsuspecting victims. The Europol has urged citizens to exercise caution when investing in digital currencies and to research any company before investing. It is also important to be aware of any suspicious activity and to report any fraud cases to the authorities as soon as possible.