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• The European Central Bank (ECB) has noted the inconsistency in crypto banking license procedures and wants to harmonize them.
• Most requests for licenses have come from banks in Germany, with one from Luxembourg.
• The ECB is taking steps to ensure that national frameworks governing crypto assets are more consistent.

ECB Wants More Consistent Crypto Banking Licenses

The European Central Bank (ECB) has noted the inconsistency in crypto banking license procedures and wants to harmonize them. Most requests for licenses have come from banks in Germany, with one from Luxembourg. The ECB is taking steps to ensure that national frameworks governing crypto assets are more consistent.

Fragmented System of Crypto Regulations

At present, the rules and regulations governing cryptocurrencies vary greatly across different countries within the EU. This creates a fragmented system that makes it difficult for banks to acquire licensing approval or maintain existing ones. As such, the ECB is seeking to create more uniform standards so as to make it easier for banks to do business with digital assets.

Licensing Requests From Fintech Banks

A large number of requests for crypto licenses have been coming from technology-driven banks, prompting the ECB to take action and impose more control over this area of finance. National supervisors such as Germany’s BaFin are responsible for monitoring smaller banks within its borders but ultimately, it is up to the ECB whether or not a license will be granted or withdrawn.

New Capital Standards Set by ECB

In February, the ECB also set tough new capital standards which could serve as a deterrent against holding unbacked crypto assets like Bitcoin (BTC). These new regulations may discourage some financial institutions from entering into cryptocurrency investments given their higher risk profile when compared with traditional asset classes like stocks and bonds.

Conclusion

Overall, while there has been increasing interest in cryptocurrencies amongst European banks, regulatory inconsistencies remain an obstacle when it comes to licensing decisions by the ECB. Therefore, harmonizing these laws across different countries is essential if Europe’s financial institutions are going to be able to capitalize on opportunities involving digital assets without having their applications rejected due to varying interpretations of existing laws and regulations within Europe’s disparate jurisdictions

• DWF Labs has invested $10 million in blockchain infrastructure provider Orbs Network.
• The investment sent the native ORBS token, which has an $85 million market cap, up close to 15%.
• Orbs recently launched its flagship layer 3 product, a decentralized “time-weighted average price” protocol for decentralized exchanges.

DWF Labs Invests $10M in Blockchain Infrastructure Provider

DWF Labs has invested $10 million in blockchain infrastructure provider Orbs Network. The investment sent the native ORBS token, which has an $85 million market cap, up close to 15%. Orbs recently launched its flagship layer 3 product, a decentralized “time-weighted average price” protocol for decentralized exchanges.

Orbs Network Overview

Founded in 2017, Orbs offers public blockchain infrastructure designed to provide scalability, low transaction fees, fast performance, security and ease of use. The platform is meant for mass-use applications that could run into high fees and slow throughput, and can serve as the back end for a full blockchain technology stack. The mainnet and ORBS token were launched in early 2019.

Involvement with TON Ecosystem

Orbs and DWF are both heavily involved in the TON ecosystem, which was developed by the founders of Telegram Messenger. Andrei Grachev of DWF Labs commented on their involvement: „Orbs is a highly promising project within the TON ecosystem, and we are pleased to invest in their vision for the future of decentralized finance.“

dTWAP Protocol

The dTWAP protocol is designed specifically as a decentralized time-weighted average price protocol for decentralized exchanges (DEXs). It takes into account different types of orderbook prices throughout a given period of time when calculating prices for DEXs instead of just one snapshot at any given time. This helps reduce volatility and increase accuracy when trading on DEXs.

Conclusion

DWF’s investment into Orbs Network signals strong confidence from investors who are actively involved with industry-leading projects such as TON ecosystem development. With this new injection of capital along with its innovative dTWAP protocol launching soon after this news broke out – it looks like things are looking very hopeful for this project going forward!

• The article discusses the current state of the Bitcoin (BTC) market, which has been in a flat trading pattern since falling 5% on Friday.
• Analysts are now looking to U.S. Treasury yields for fresh cues, as a further rise in bond yields could lead to a sell-off of riskier assets like cryptocurrencies and technology stocks.
• QCP Capital warned that crypto prices might struggle to maintain current levels if equities continue to fall and the dollar index and yields continue to move higher.

Bitcoin Market Struggles Amid Yield Uncertainty

The Bitcoin (BTC) market has been trading dead flat since falling by 5% early Friday, leaving analysts looking towards U.S. Treasury yields for clues on future direction. BTC is currently hovering around $22,150 – $22,700, according to CoinDesk data.

Rise in Bond Yields Could Lead To Crypto Sell-Off

If Treasury yields extend their February rally, this could cause a sell-off of riskier assets like cryptocurrencies and technology stocks as well as inflation hedges like gold. This is because rising bond yields make borrowing more expensive and typically cause traders to ditch risky assets such as cryptos in favor of fixed income securities instead; something witnessed last year due to similar circumstances.

QCP Capital’s Warning

Singapore-based QCP Capital warned that if equities continue to fall and the dollar index and yields continue moving higher, crypto prices might not be able to sustain current levels: “Despite the gloom and doom, crypto continues to hold up extremely well, with BTC staying above $23,000,“ they said in their research note published on Friday.

Yields Pull Back Slightly

Fortunately however, Treasury yields have started pulling back slightly after posting a sharp increase earlier this week; easing some of the pressure off investors who were concerned about further yield rises leading to an eventual drop off in risky asset prices such as cryptocurrency valuations..

Conclusion

In conclusion then; while it remains uncertain whether or not bond yields will grow further over time leading eventually lead an overall trend towards dropping crypto values – it appears that any immediate threat from such seems unlikely given recent yield pullbacks seen this week .

Overview

• Marathon Digital will need to restate portions of its 2021 and 2022 financial reports due to an inquiry from the SEC.
• The issue is related to impairment calculations and determining if the company was acting as an agent or principal.
• The 2022 Q4 earnings report has been delayed until the 10-K filing is completed.

SEC Inquiry Finds Accounting Issues

Marathon Digital (MARA) announced that it will need to restate certain portions of their audited 2021 results and currently unaudited quarterly reports from 2022 after an inquiry from the U.S. Securities and Exchange Commission (SEC). According to an SEC filing, the issue relates to how the company calculated impairment on digital assets and whether it was acting as an agent in operating a third-party mining pool or a principal. Marathon stated that they do not expect any impact on total margin, operating income, or net income in either 2021 or any of the quarterly results in 2022.

Delayed Financial Reports

The SEC inquiry has caused Marathon Digital to delay their planned Q4 earnings report for 2022, which had previously been scheduled for Tuesday afternoon. The company anticipates that they will be able to file their 10-K within 15 days past the March 1 deadline; however, they are unable to guarantee this timeline due to unforeseen circumstances. Shares have risen 8.5% since midday Tuesday in response to this news announcement.

Impact on Investors

It is unclear what effect these restatements may have on investors at this time; however, Marathon believes that there will not be any significant changes made which could potentially affect shareholders negatively. They plan on providing further information once their audit process is complete, including details regarding any changes made during restatement periods and what those changes mean for investors moving forward with MARA stock purchases or sales.

Conclusion

The news of Marathon’s accounting issues has caused some concern among investors, but it remains unclear what kind of impact those issues might have on shareholders moving forward with MARA stock purchases or sales until more information becomes available once their audit process is complete. In the meantime, shares continue to rise 8.5% since midday Tuesday, despite delays in reporting their Q4 financial results for 2022 until after March 1st when their 10-K filing should be completed within 15 days after that date instead

• The Open Network has released its governance platform, Ton.vote, to the public.
• Trading activity of Toncoin (TON) surged 98% after the launch of the platform.
• Toncoin holders can now vote on decisions across all projects on the network.

The Open Network Launches On-Chain Governance Platform

The Open Network has released its governance platform, known as Ton.vote, to the public. This platform was developed in tandem with layer 3 blockchain infrastructure provided by Orbs, ensuring tamper-proof voting across Ton.vote.

Toncoin Trading Activity Surges Following Release

Following the launch of the governance platform, trading activity for native token Toncoin (TON) increased significantly. TON is currently trading at $2.35 and daily volume has spiked by 98% to $40 million according to CoinMarketCap.

Toncoin Holders Can Vote on Decisions Across All Projects

With the release of Ton.vote, TON holders will be able to cast votes on decisions regarding all projects that are part of The Open Network protocol – currently three decentralized exchanges with a combined Total Value Locked (TVL) of $7 million according to DefiLlama.

Background: The Open Network and Telegram’s Foray into Crypto

The Open Network originated from Telegram’s abandoned foray into crypto, with community developers forking the source code in order to create a standalone layer 1 blockchain protocol. The first governance proposal discussed freezing tokens held by genesis mining wallets that have been inactive for four years, with 91.75% being used in favor of this proposal – 1.7 million TON tokens were used in total for this vote alone.

Conclusion

The launch of an on-chain governance platform means that TON holders will now be able to play a direct role in deciding how their coin is managed and utilized across all projects within The Open Network protocol – resulting in increased trading activity and interest in TON overall!

• Celsius Network and its creditors have launched court action to recover millions of dollars they claim were fraudulently transferred from founder Alex Mashinsky and other former executives.
• The 150-page legal document alleges that Mashinsky, co-founder S. Daniel Leon and others mismanaged the crypto lender, inflated the price of CEL tokens for their own benefit and made “negligent, reckless and sometimes self-interested investments” in the run-up to bankruptcy.
• The filing requests recovery, costs and punitive damages based on 33 counts, including the transfer of billions to decentralized finance platform KeyFi to engage in speculative investment.

Celsius Seeks to Recover Millions From Former Executives

Celsius Network and its creditors have begun court action to recover millions they say was fraudulently transferred from founder and former CEO Alex Mashinsky, his wife and other former senior executives. Court documents published on Tuesday allege Mashinsky, co-founder S. Daniel Leon and others mismanaged the crypto lender, inflated the price of CEL tokens for their own benefit, and made „negligent, reckless and sometimes self-interested investments“ in the run-up to bankruptcy in July.

Specifics Of Filing

The 150-page legal document they filed requests recovery, costs and punitive damages based on 33 counts. They include the transfer of billions to decentralized finance platform KeyFi, which Mashinsky partly owned, to engage in speculative investment – a move which the filing said lost Celsius approximately $200 million – as well as $2.8 million transferred to Mashinsky’s own wallet in May 2022 as allegedly fraudulent transfers under U.S bankruptcy code; $12 million transferred to AM Ventures; $5 million transferred Koala LLP – both owned by Mashinsky; among other transfers detailed within a 150 page filing.

Mashinksy’s Response

Mashinsky did not immediately respond to CoinDesk’s request for comment sent via LinkedIn when this article was first published but has since responded with a statement disputing many points raised by Celsius‘ court filing . He stated that he had fully disclosed all transactions prior to leaving Celsius earlier this year– adding that Celsius had been properly managed during his tenure as CEO–and that he would be vigorously defending himself against what he called “baseless allegations” made by his former employer..

Impact On Crypto Lending Market

This news is likely to have significant implications for not just those involved directly or indirectly but also those operating within wider industry–crypto lending platforms especially– due both its high profile nature as well as potential repercussions should it become precedent setting within industry context surrounding funds management practices employed by such companies going forward..

Conclusion

At present time it remains unclear how exactly this case will play out however given seriousness with which it is being brought provides essential reminder of need for clear protocols governing management of customer funds by any business operating within cryptocurrency space regardless if they are custodial or noncustodial services providers , exchanges or lenders etc

• The NFT market is becoming increasingly competitive as different platforms battle for creators and collectors
• OpenSea has been the leading platform in the NFT space since its launch in December 2017 and currently dominates with over 34,000 ETH in trading volume
• Blur has gained considerable momentum among JPEG slingers since its debut in October and has become the second-largest NFT marketplace by volume

NFT Market Competition Heats Up

The non-fungible token (NFT) space is becoming increasingly competitive as different marketplaces battle for creators and collectors. OpenSea, which launched in December 2017, continues to dominate the NFT scene, recording over 34,000 ETH of trading volume worth some $56 million last week according to blockchain data analytics platform Nansen.

Blur Rapidly Gaining Momentum

Competing marketplace Blur has seen rapid growth since its debut in October 2020. Known for its zero trading fees and marketplace “floor sweeping” features, Blur climbed to become the second-largest NFT marketplace within a couple of months by volume. For the week ending Feb 6th, Blur’s single day trading reached 1,160 ETH worth some $15.2 million – representing more than 25% of OpenSea’s 24-hour volume according to Dune Analytics.

OpenSea Dominance

OpenSea still dominates when it comes to number of sales and interacting wallets per day: Over 14 times more than Blur according to Nansen data. While Blur is still lagging behind OpenSea in terms of total market share, its rapid growth suggests that it could be well on its way to becoming a major player in the field soon enough.

Top 5 Projects By Volume

OpenSea’s top five projects by trading volume over the past 30 days were CryptoPunks ($14 million), Decentraland ($10 million), Cryptovoxels ($4 million), Sorare ($3 million) and Hic Et Nunc ($1 million). All five projects have conducted more than 50% of their overall trade volumes on OpenSea alone during this period.

Conclusion

As competition continues to heat up between OpenSea and Blur for a bigger slice of the NFT pie, one thing is clear: both platforms have carved out their own unique niches within the burgeoning digital art industry and are likely only going to get bigger from here on out.

• January’s crypto market rally was broad-based, with Aptos‘ APT token leading the surge with a 387% increase.
• Gaming- and metaverse-affiliated tokens such as Gala Games‘ GALA token and Decentraland’s MANA token rose 233% and 149%, respectively.
• According to MarketVector Indexes product specialist Martin Leinweber, smaller altcoins tend to have higher beta to bitcoin, leading to higher gains when the market turns bullish.

The January surge in crypto markets was broad-based, with a number of tokens leading the rally. Layer 1 blockchain Aptos‘ native token APT was the biggest winner among 160 assets in the CoinDesk Market Index, with a 387% increase for the month. This was followed by gaming- and metaverse-affiliated tokens such as Gala Games‘ GALA token and Decentraland’s MANA token, which rose 233% and 149%, respectively.

The rally in crypto markets was welcomed by many, with MarketVector Indexes product specialist Martin Leinweber noting that smaller altcoins tend to have higher beta to bitcoin, leading to higher gains when the market turns bullish. “It’s not unusual to see the hardest-hit coins rallying the most when the market turns bullish,” he said.

The surge follows a difficult year in 2022, when the cryptocurrency market was largely in the doldrums. The January rally has been driven by a variety of factors. Institutions have been investing more in the space, with large investments from the likes of BlackRock, Tesla, and Square signalling that the industry is gaining more mainstream appeal.

Furthermore, the launch of Ethereum 2.0 and DeFi applications have attracted more users to the space, contributing to the overall market growth. For example, Ethereum’s ETH token has risen more than 40% in January, and is now trading at its highest level since 2018.

It remains to be seen if the rally in crypto markets can continue, but the signs so far are encouraging. With institutional investors piling into the space and the launch of new blockchain projects, the future looks bright for the cryptocurrency market.

• Djed, a Cardano-based overcollateralized stablecoin, is set to launch next week.
• Djed will be integrated with over 40 Cardano-based decentralized finance applications (dapps) upon launch.
• DjedPay, a payment app that uses djed, will allow users to transfer the tokens to merchants and businesses.

Cardano, the decentralized open-source blockchain network, is set to launch its own stablecoin, Djed, next week. Developed by IOG, the Cardano code maintainer, and Coti, a layer 1 blockchain, Djed is an overcollateralized stablecoin that requires more than 400% in collateral value to be posted before it is issued to a user. This mechanism is designed to ensure that Djed’s value holds stably during market stress and to prevent a repeat of what happened with TerraUSD, the infamous stablecoin linked to luna, which fell more than 99% in May.

At launch, Djed is expected to be integrated with over 40 Cardano-based decentralized finance (DeFi) applications, or dapps. This is significant, as according to DefiLlama data, the Cardano dapp ecosystem is currently locking up over $72 million worth of tokens. Additionally, developers have also created DjedPay, a payments application that uses Djed, which will enable users to transfer the tokens to merchants and businesses.

The launch of Djed is highly anticipated and is expected to bring a lot of activity to the Cardano network. With its overcollateralized mechanism, it will give users the ability to make quick and reliable payments, as well as provide merchants with a secure and stable form of payment. Furthermore, its integration with the Cardano dapps will open up new possibilities for users to interact with each other and take advantage of the DeFi applications available. All of this could lead to increased adoption of Cardano and a more vibrant ecosystem overall.

• The crypto market capitalization dropped 3.5% in the past 24 hours following a decline in U.S. equity markets.
• Ether and dogecoin led the slide among major tokens, falling more than 5%, while bitcoin lost just 1.6%.
• Outside of majors, Avalanche (AVAX) and Lido (LDO) dropped 7.7% and 10%, respectively.

The crypto market has taken a hit in the last 24 hours, as traders have likely taken profits following weeks of an uptrend. With U.S. equity markets also pulling back, crypto market capitalization has decreased by 3.5%, leaving the total market just over $1 trillion.

Leading the slide among major tokens were Ether and Dogecoin, both of which saw losses of more than 5%, while Bitcoin dropped just 1.6%. This resulted in upwards of $173 million in longs, or bets on higher token prices, to be liquidated. Of this, Ether futures saw $86 million in liquidations while traders of Bitcoin futures lost $46 million.

Outside of majors, Avalanche (AVAX) and Lido (LDO) saw the greatest losses, dropping 7.7% and 10%, respectively. This is in contrast to tokens such as Quant (QNT) and Aptos (APT), which both saw gains of over 4%. The recent pullback followed a notable upswing, which was driven in part by Bitcoin’s strength and strong transactional activity among tokens such as SOL and ADA.

Nevertheless, the market pullback has provided traders with an opportunity to reassess the bullish trend of recent weeks and could mark the beginning of a period of consolidation. The extent of the decline remains to be seen, but it appears that bulls are taking a breather.