Biden Administration Releases Roadmap to Reduce Crypto Risks, Protect Investors

• The White House has released a roadmap to reduce the risks related to cryptocurrency.
• The Biden Administration will develop a cryptocurrency legal framework in the coming months.
• The roadmap outlines the administration’s priority to ensure that cryptocurrencies do not threaten financial stability, protect investors, and hold bad actors accountable.

The Biden Administration has recently released a roadmap to reduce the risks associated with cryptocurrency. The White House post outlines the administration’s priority to ensure that cryptocurrencies do not threaten financial stability, protect investors, and hold bad actors accountable. Furthermore, the roadmap states that the Administration has spent the past year identifying the risks of cryptocurrencies and devising ways to mitigate them using the executive branch’s authorities.

In the roadmap, experts from throughout the administration have put out a framework for creating digital assets securely and sustainably while addressing the risks they pose. The year 2022 has been a terrible year for the crypto market, with investors facing severe lows and the collapse of the LUNA/Terra, and the bankruptcy of significant corporations like FTX leading to the crypto facing bears, and despite all of this loss, many still have faith in the cryptocurrency market.

In response to this, the Biden Administration has been working on a cryptocurrency legal framework that aims to protect investors and hold bad actors accountable. The Administration will be working to create a framework for building digital assets that are secure and sustainable while addressing the risks they pose. This framework will include measures to ensure that the crypto market is not threatened by financial instability, and that investors are protected.

The framework will also include measures to ensure that cryptocurrency platforms and advocates are not perpetrating massive fraud or misleading users. Furthermore, the Administration will be working to ensure that there are no conflicts of interest, and that all disclosures are adequately made.

The Biden Administration is committed to ensuring that the crypto market is safe and secure for investors. The Administration’s roadmap and cryptocurrency legal framework are steps towards achieving this goal. Investors should feel confident that their investments are protected and that the crypto market is safe.

PayPal Data Breach: 34,942 Accounts Affected, Change Your Passwords Now!

• PayPal reported a data breach that affected nearly 35,000 accounts worldwide.
• The hackers got away with sensitive information, including name, address, personal tax identification numbers, social security number, and date of birth.
• PayPal notified all the affected accounts and urged them to change their passwords.

PayPal, one of the world’s largest online payment services, was hit by a major data breach last month. The breach, which occurred between December 6 and December 8, 2022, affected 34,942 accounts, leaving the sensitive information of these users exposed.

The compromised data included the name, address, personal tax identification numbers, social security number, and date of birth of the affected accounts. The hackers were able to gain access to these accounts using their login credentials, which suggests that the breach was a result of a credential-stuffing attack.

PayPal took immediate action after it learned of the breach on December 8, and stopped the unauthorized access. The company launched an investigation, and on December 20, 2022, it began sending notifications to all the affected accounts. The notifications asked the users to change their passwords.

PayPal also issued a statement on the breach, noting that there had been no breach in their systems. The statement read: “We take the security of our customers’ accounts very seriously and are constantly working to enhance our security measures. We are committed to providing our customers with a safe and secure experience.”

The company advised users to take precautionary measures to protect their accounts, such as using two-factor authentication, setting up unique passwords for each account, and keeping an eye out for suspicious activities.

This data breach serves as a reminder of the need for users to take online security seriously. While PayPal has taken steps to protect its customers’ accounts, it is ultimately up to the users to ensure that their information is safe.

Dive Deeper Into Web3 Investment with 3HOUSE’s Campfire Initiative

• 3HOUSE, the leading Web3 investment community, recently introduced a new initiative called “Campfire” to provide comprehensive “deep dives” for Web3 investors.
• Campfire is the community’s fortnightly focus direction, where they look at an important and relevant issue within the crypto industry and try to unpack it from multiple angles.
• The 3HOUSE platform is currently available as a web app and can be accessed by connecting a wallet and burning one of the project’s native ERC20 governance tokens.

3HOUSE, the leading Web3 investment community, recently announced a new initiative, “Campfire”, which is designed to help investors gain a deep understanding of investment principles and access high-quality information when making critical investment decisions in the rapidly growing and constantly evolving Web3 industry. Campfire is the community’s fortnightly focus direction, where the 3HOUSE development team, in collaboration with the community, look at an important and relevant issue within the crypto industry and try to unpack it from multiple angles. This is the community’s way of getting to the heart of complex issues together to better inform investment decisions and cut through the noise of traditional content platforms.

Dylan O’Hanrahan, Head of Business Development at 3HOUSE, said: “We understand the importance of having a deep understanding of investment principles and access to high-quality information when making critical investment decisions, particularly in the Web3 space. That’s why we’re excited to introduce the Campfire initiative, which aims to build the most comprehensive place for Web3 investment-related content online through community-generated insights.”

The 3HOUSE platform is currently available as a web app and can be accessed by connecting a wallet and burning one of the project’s native ERC20 governance tokens. Each user is limited to one account with a unique username, and the focus is on ensuring that each feature adds value to the user experience and supports effective decision-making. The platform also provides access to exclusive content and events, as well as early access to select 3HOUSE investments and features.

As the Web3 space continues to grow and evolve, it is more important than ever for investors to have access to quality information and resources when making investment decisions. The Campfire initiative from 3HOUSE is designed to provide investors with the tools and resources needed to make informed investment decisions and stay up-to-date on the latest developments in the space. With the launch of Campfire, 3HOUSE is continuing to demonstrate its commitment to helping build an informed and engaged Web3 investment community.

Crypto Bulls: ImmutableX, Ripple, and Orbeon Poised for Gains

• ImmutableX (IMX) is a blockchain platform that eliminates fuel costs and creates carbon-neutral NFTs.
• Crypto analysts are bullish on ImmutableX (IMX), with predictions of reaching $4.2 by 2030.
• Ripple’s XRP has seen strength lately due to its technology and partnerships with major banks and financial institutions that aim to replace the current SWIFT system.

ImmutableX (IMX) is a blockchain platform designed to deeply impact the NFT market. It eliminates fuel costs and creates carbon-neutral NFTs, tapping into a global market. Its native token, IMX, is used to pay a fee to the protocol, which is then sent to the staking reward pool so that users can earn rewards. Crypto analysts are bullish on ImmutableX (IMX), predicting it to reach as much as $4.2 by 2030.

Ripple’s XRP has seen strength lately and the crypto community is optimistic regarding Ripple’s ability and technology to maintain its position in the financial industry. Ripple aims to replace the current SWIFT system, which permits international money transfer at a much slower rate and higher costs compared to Ripple’s technology. With its partnerships with major banks and financial institutions all around the world, Ripple is on the road to revolutionizing the global financial system.

The crypto market is booming and some projects are rebounding, while others are recording unprecedented growth. If you want to know what comes next for ImmutableX (IMX), Ripple (XRP), and Orbeon Protocol (ORBN), crypto analysts are bullish on all three. ImmutableX (IMX) has the potential to reach $4.2 by 2030 with its innovative blockchain platform. Ripple’s XRP is on the road to revolutionizing the global financial system with its partnerships and technology. Orbeon Protocol (ORBN) is also expected to benefit from its innovative technology and use cases. All three crypto projects are poised to make gains in the near future.

Genesis Crypto Lender Set to File for Bankruptcy This Week

• Troubled crypto lender Genesis is likely to file for Chapter 11 bankruptcy this week due to ongoing negotiations with creditors.
• Sources familiar with the matter say negotiations between Genesis and creditors have not progressed as expected.
• The proposed deal includes creditors receiving cash and equity from Digital Currency Group in exchange for a one to two year forbearance period.

Troubled crypto lender Genesis Global Capital, a subsidiary of the Digital Currency Group (DCG), is likely to file for Chapter 11 bankruptcy this week due to ongoing negotiations with creditors. Sources familiar with the matter say that negotiations between Genesis and creditors have not progressed as expected, leaving the company no other choice but to file for bankruptcy.

The proposed deal includes creditors receiving cash and equity from Digital Currency Group in exchange for a one to two year forbearance period. This means creditors would agree to wait a certain amount of time before they can get paid back. Reports suggest that Genesis is trying to raise cash to avoid bankruptcy, but the current liquidity crunch is making it difficult for the company to do so.

Genesis is one of the biggest crypto lenders in the industry and it has been providing loans for the past four years. It has lent out more than $1 billion in crypto assets to its clients and has been involved in several high profile deals. It was also one of the first crypto lenders to offer margin trading.

The filing for Chapter 11 bankruptcy is likely to have far-reaching consequences for the crypto industry. It is expected to have a negative impact on the industry as a whole, as investors and lenders become more cautious about lending to crypto companies. In addition, other crypto lenders may also face increased scrutiny from regulators.

It is unclear what will happen to the loans that Genesis has already given out. It is possible that creditors may not be able to recover the money they have lent out. The company is also likely to face a number of legal issues due to its current financial situation.

It remains to be seen how the situation will unfold in the coming days. However, one thing is clear – the future of Genesis and the crypto industry is uncertain.

Start 2023 Right! Invest in Uniswap, Near Protocol, and Big Eyes Coin!

– UniSwap (UNI), Near Protocol (NEAR), and Big Eyes Coin (BIG) are three altcoins to consider investing in for the new year.
– UniSwap facilitates automated trading of DeFi tokens, creating liquidity for the DeFi ecosystem.
– Big Eyes Coin offers a 200% bonus to new investors, making it one of the hottest cryptocurrencies in the market.

As the new year begins, cryptocurrency investors are in a race against time to identify the best coins to add to their portfolios. With the DeFi boom of the previous year, many are looking to capitalize on the growth of decentralized finance (DeFi) and invest in the right assets. To make this decision easier, let’s take a look at three altcoins that are worth considering for a great 2023: UniSwap (UNI), Near Protocol (NEAR), and Big Eyes Coin (BIG).

UniSwap (UNI) is a top trading protocol and decentralized exchange (DEX) that facilitates automated trading of DeFi tokens. The automated market maker (AMM) leverages automated solutions to achieve this while improving on the problems common to the earliest DEXs (decentralized exchanges). With over $3 billion in Total Locked Value (TVL), UniSwap creates liquidity for the DeFi ecosystem and reduces costs, risks, and eliminates the need for identity verification.

Near Protocol (NEAR) is a decentralized application (dApp) platform that offers developers the ability to create and deploy open-source applications on a secure, low-cost, and scalable blockchain. It is designed to facilitate the development of scalable decentralized applications (dApps) and games. The platform is powered by a novel consensus mechanism called Nightshade which is designed to increase security, scalability, and flexibility. Additionally, the Near Protocol has a number of features such as a built-in decentralized storage system and a cross-chain interoperability layer.

Big Eyes Coin (BIG) is a decentralized cryptocurrency that offers users a 200% bonus when they purchase the coin. This bonus is the hottest thing in crypto right now and is sure to attract new investors. Big Eyes Coin is built on the Ethereum blockchain and offers users a secure, low-cost, and fast way to make transactions and payments. Additionally, it is designed to be an easy-to-use platform for developers to build dApps and games. Big Eyes Coin also integrates with major DeFi protocols such as Uniswap and MakerDAO, allowing users to access a wide range of DeFi services.

These altcoins all have unique features that make them good purchase options. UniSwap facilitates automated trading of DeFi tokens, Near Protocol offers developers the ability to create and deploy open-source applications on a secure and scalable blockchain, and Big Eyes Coin offers a 200% bonus to new investors. Each of these crypto assets have the potential to yield great returns in 2023 and beyond. As such, they are worth considering if you’re looking to invest in crypto this year.

Paytm’s Stock Plummets 8.8% Following Ant Financial Block Deal

• Paytm shares declined 8.8% on Thursday following a series of block deals recorded by parent One97 Communications Ltd.
• Around 19.20 million shares or a 3% stake in the digital payments and financial services platform changed hands, with a monetary value of roughly $125 million.
• Reports state that the likely seller in the Paytm block deal is Alibaba Group affiliate Ant Financial.

Paytm, a digital payments and financial services platform, recently saw its stock decline markedly after a shareholder offloaded 19.20 million shares. On Thursday, shares of the company suffered an 8.8% decline following a series of block deals recorded by parent One97 Communications Ltd. The monetary value of the recent sale is around $125 million.

Reports indicate that the likely seller in the Paytm block deal is Alibaba Group affiliate Ant Financial. As of September last year, Ant Financial held 164.42 million shares, or a 24.88% stake, in Paytm. Morgan Stanley reportedly advised Alibaba on the deal. This marks the steepest plunge in Paytm shares since November 22nd.

The recent decline in Paytm shares has been a cause of concern for investors and industry experts alike. While the company’s stock was trading at Rs 528 a share as of press time, it was also trading down 5% from its previous close on the Bombay Stock Exchange (BSE). Before this development, the company’s stock had accrued 15% since December 26th.

Industry experts believe that the recent sale of shares may have been due to the company’s struggles to compete with rivals such as Google Pay, Amazon Pay and PhonePe in the digital payments space. Paytm has also been facing issues with the Reserve Bank of India (RBI) over the company’s KYC procedures, which may have further contributed to the decline in its share price.

Paytm is now facing an uphill task in regaining investor confidence and restoring its stock price. Whether the company will be able to overcome the challenges it is currently facing remains to be seen.

Ubisoft Plunges 20% as Cancelled Games, Financial Challenges Loom

•Ubisoft shares plunged 20% due to bad news, including the cancelled games and financial challenges.
•The company announced that its game „Skull and Bones“ will be delayed again, and expects to release the game anytime from April 2023 to March 2024.
•Ubisoft also mentioned canceling three other projects in order to focus on its existing brands and live services.

Ubisoft, a French video game publisher, recently experienced a massive decline in its share price, with a staggering 20% drop due to some unfortunate events. The company announced that its game „Skull and Bones“ would be delayed again, with no specific date fixed, instead expecting to release the game anytime from April 2023 to March 2024. This was bad news, as the Skull and Bones game was most recently scheduled for March 9th. Adding to the bad news, Ubisoft also mentioned canceling three other projects in order to focus on its existing brands and live services.

The canceled games and financial challenges have forced the French company to „depreciate around €500m of capitalized R&D“. This has resulted in a significant decline in the company’s share price. This is in spite of the company’s attempt to decrease its operating expenses by €200 million and its decision to reduce its staff by around 600 employees to adjust to the current market demand.

Many investors are worried about Ubisoft’s future and the potential impact of these decisions on the company’s performance. Ubisoft’s CEO, Yves Guillemot, has stated that the company will continue to focus on delivering quality content to its players. He also mentioned that they will continue to invest heavily in innovation and technology to ensure the company remains at the top of the gaming industry.

With the ongoing financial challenges, Ubisoft will have to make difficult decisions in order to remain competitive. The company’s future success will depend on its ability to balance cost-cutting measures with the development of new and exciting games. Only time will tell how Ubisoft will navigate its way out of this difficult situation.

Coinbase Downsizes Staff by 20% to Stay Afloat During Crypto Crunch

• Coinbase recently announced an 18% staff layoff to preserve cash during the crypto crunch.
• The exchange is reportedly planning a second round of headcount reductions, this time cutting 950 jobs (20%).
• CEO Brian Armstrong said that Coinbase grew too quickly during the bull market and that the exchange should have done more with “perfect hindsight.”

Coinbase, one of the leading American crypto exchanges, recently announced an 18% staff layoff to preserve cash amidst the current crypto downturn. The exchange is reportedly downsizing its workforce by cutting 950 jobs (20%), in an effort to stay afloat and remain competitive.

The move comes after the exchange had already downsized its staff by 18% back in June 2020. As of September 2020, Coinbase had approximately 4,700 employees.

The decision to downsize its staff has been taken to help Coinbase strengthen its financial position. Chief executive officer Brian Armstrong commented on the downsizing, saying that “With perfect hindsight, looking back, we should have done more. The best you can do is react quickly once information becomes available, and that’s what we’re doing in this case.”

Coinbase estimated that the layoff would incur new expenses of up to $163 million for the first quarter. However, the exchange believes that the downsizing and other restructuring measures will help lower the exchange’s expenses in the long run.

Coinbase is not the only crypto exchange to downsize its workforce. Several other exchanges have also cut their staff in an effort to preserve cash during the crypto crunch.

The crypto market downturn has taken a toll on many exchanges, and Coinbase is no exception. The major exchange is doing its best to remain competitive by downsizing and restructuring to preserve its cash. It remains to be seen if the exchange’s efforts will pay off.

Chinese Lidar Startup Hesai Tech to Launch US IPO, Seeking $150M

-Chinese lidar startup Hesai Technology is planning to file for a US initial public offering (IPO) next week.
-The startup is expected to raise around $150 million from the IPO.
-Investment banks such as Credit Suisse, Goldman Sachs, and Morgan Stanley are working with Hesai on its first-time shares offering.

Hesai Technology, a Chinese leader in lidar technology for autonomous driving and ADAS, is planning to file for a US initial public offering (IPO) as early as next week. The details of the IPO have not been disclosed, but if Hesai proceeds with all the steps on time, it might be the first Chinese company to launch an IPO in the US this year. Founded in 2014, Hesai Technology is a global leader in lidar technology for autonomous driving and ADAS, empowering robotics and elevating lives through high-performance, reliable, and cost-effective lidar solutions.

The company is expecting to raise around $150 million through the IPO. This investment will be used to support the company’s growth and development, as well as to strengthen its position in the lidar industry. Credit Suisse Group AG, Goldman Sachs Group Inc, and Morgan Stanley are currently working with Hesai on its first-time shares offering.

Hesai Technology has a long history of innovation, with a variety of products designed to meet the needs of customers in the automotive, robotics, and industrial sectors. Its products have been widely adopted by some of the world’s leading companies, including Audi, BMW, Daimler, and Xiaomi.

The company has also established strategic partnerships with several leading companies in the autonomous driving and ADAS industry, such as Velodyne, AEye, and Innoviz. These partnerships have allowed Hesai to develop a wide range of products, including the world’s first automotive-grade, full-range, high-resolution lidar.

Hesai Technology’s success has been driven by its commitment to innovation and its ability to develop cutting-edge technologies. The company has seen tremendous growth over the past few years, and this IPO could be a major milestone for the company. If successful, the IPO could propel Hesai Technology into the global spotlight, as it would be one of the first Chinese companies to launch an IPO in the US this year.