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In a recent courtroom confession, Ryan has agreed to pay a $6 million fine to the US government, reimburse FTX creditors with $5 million, and forfeit two Massachusetts properties along with his Porsche. The former FTX executive admitted to illicit campaign financing and running an unlicensed money transfer business. “I made $10 million in political contributions and called them loans, which I never intended to repay,” said Salame. He could face up to 10 years in federal prison.

Grayscale Investments is gearing up for a potential positive outcome in its lawsuit with the SEC, as it begins hiring for its ETF team. The firm is on the lookout for a "Senior Associate, ETFs" to bolster its ETF business development. This move comes as the crypto community eagerly awaits a court decision on Grayscale's proposal to convert its GBTC fund into a spot bitcoin ETF. The outcome could set a precedent for other asset managers seeking approvals for spot bitcoin funds, influencing the future of crypto ETFs.

Under the new regulations, stablecoin transfers will require up to three business days. This rule has caused bewilderment within the blockchain community. However, officials state that this restriction is consistent with the pace of standard domestic money transfers and will also apply to stablecoin redemptions. "The redemption timeline is intended to strike a balance between responsiveness to users’ requests and ensuring there is enough time for the SCS issuer to do so in an orderly manner under various stress situations," added the regulator.

"Soho House, an elite club where memberships are priced between $2450 and $4800. What I did was create an AI model of a woman (based on ChatGPT), a marketing expert, who would invite young and affluent men for business meetups." Success came without delay: "The AI's efforts resulted in approximately 30,000 men accepting the invitation, bringing in about $90 million, as all of them had to secure a membership." But that's not the end of Jack's endeavor; he aimed for personal gain: "The main thing is, I managed all of this within a week, precisely when the company was to disclose its 2023 second-quarter gains, and in doing so, I bought options valued at $50,000." In the end, Soho House's shares rose nearly 20%, and Jack's earnings were substantial.

The head of business operations at Coinbase reported that a year ago, Alameda Research minted USDT worth $39.55 billion or about 47% of the total stablecoin supply.

The company cites its inability to comply with regulatory requirements as the reason behind this move, but it also states its intention to return to the Dutch market once it has aligned its business with the new MiCA regulations.

Binance has agreed to sell its entire russian assets to CommEX, marking a full exit from the country. The transition will take up to a year, ensuring a smooth migration for existing russian users. Notably, CommEX is a newly launched exchange, just one day into its official journey. Alex Bornyakov, the Deputy Minister of Digital Transformation of Ukraine, reflects on Binance's exit from the russian market: “There’s no longer room for any business to stay “neutral”. Blockchain technology is neutral but people leading crypto businesses should not be.” Check out our exclusive interview with Alex Bornyakov, where we delve into Ukrainian blockchain projects and digital education on the Diia.Digital platform.

An analysis of crypto accessibility via ATMs, business adoption, legal frameworks, and overall availability has identified the frontrunners for 2023 as Hong Kong, Switzerland, the USA, Georgia, Slovenia, Canada, Australia, Germany, Bulgaria, and Panama.

The Central African Republic (CAR) is expanding its Sango blockchain initiative to include the tokenization of land and natural resources. Recently, the CAR National Assembly passed a law, receiving unanimous approval, that facilitates online business visa applications and simplifies the process for both locals and foreigners to establish businesses in sectors like real estate, agriculture, and forestry. This move follows CAR's earlier efforts in the crypto space, including the launch of Project Sango in May 2022 and its brief adoption of Bitcoin as a national currency.

Kevin Kelly, Delphi Digital's co-founder, suggests the crypto market is entering a new cycle. He highlights the consistency in crypto market timings, from peak-to-trough bottoms to recovery durations. Using Bitcoin as a reference, Kelly describes a typical cycle: a new all-time high, an 80% drawdown, a recovery to the previous high in two years, and a rally to a new peak. This cycle aligns with broader business cycles. Kelly also draws parallels between Bitcoin's price peaks and the ISM Manufacturing Index. Despite potential short-term setbacks, Kelly remains optimistic about the market's outlook for the next 12-18 months.

The decision comes as its parent company, Digital Currency Group (DCG), is in talks to bring in strategic investors. CoinDesk's CEO, Kevin Worth, described the move as necessary for a "financially sound business" and to facilitate the sale of CoinDesk Inc. This layoff affects 20 individuals, making up almost half of the editorial team. Earlier reports suggested CoinDesk was close to a $125 million deal led by crypto investor Matthew Roszak of Tally Capital.

"Simply put, no. Bitcoin raises concerns among both local and European regulators. Our primary business demands our focus, and it wouldn't be rational to jeopardize it by engaging with a high-risk asset like Bitcoin," says Mykhailo Rohalskyi. He believes that cryptocurrency lacks advantages over fiat money, apart from the potential to sidestep local currency regulations. Speaking on Ukraine's crypto landscape, the Monobank co-founder added: "I'm skeptical about the widespread acceptance of cryptocurrencies in our country. The approach of the National Bank of Ukraine to crypto regulation remains uncertain."