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• BinaryX announced the upcoming release of a space-building simulation game called Project Matthew.
• Players take over as landlords and build extraterrestrial cities by setting up industrial production lines.
• The game features an army of helper robots, challenging battles, and exploration of neighboring and faraway planets.

BinaryX Launches Project Matthew

BinaryX has announced the upcoming release of a space-building simulation game, Project Matthew. The team just released the trailer video which gives a first look at the game, and is also opening registration for their Closed Beta Test happening soon.

Develop A City

Players are given an NFT plot to start their city in Project Matthew. They can build different types of helper robots that will contribute different skills to scavenge, battle, or explore new territories to develop the city.

Lead A Virtual Army

Players can recruit a robot army with different skills and abilities, and challenge enemies on the battlefield to earn massive rewards. The battlefield is divided into different levels of difficulties with greater rewards for higher levels.

Explore Space

Exploration is one of the primary ways to obtain rewards and resources in Project Matthew. The gameplay features a collection of neighboring and faraway planets waiting to be explored.

Excitement From BinaryX

Rudy S., Global Head of Business Operations and Development from BinaryX said: “Project Matthew is our biggest project for the first half of 2023…We want our players to immerse themselves in space as landowners and explorers”

• Tether and the City of Lugano have launched the Plan Business Hub to celebrate the first anniversary of The Plan Initiative.
• The Hub will house more than 300 experts and enthusiasts, serve as a global point of reference in Lugano, and host recreational spaces for meetups and workshops.
• The goal is to make Lugano a center of excellence for blockchain technologies and foster education and development.

Tether & City of Lugano Launch Plan Business Hub

Tether Operations Limited (Tether) has joined forces with the City of Lugano to launch the Plan Business Hub to celebrate the first anniversary of The Plan Initiative. Launched on March 03, 2022, The Plan’s main objective was to scale Lugano’s blockchain capabilities by allowing businesses and shops within the city to accept crypto such as Bitcoin (BTC), Tether (USDT), and lugan-based LVGA token as payment for goods and services.

Features Of The Plan Business Hub

The newly launched hub is designed to explore potential adoption of blockchain technology in businesses and long-term use of cryptocurrencies in Europe. It will host over 300 experts from various disciplines related to blockchain technology, be a point of reference in Lugano, provide recreational spaces for meetups & workshops that foster education & development, attract talent, encourage networking & knowledge sharing.

Objective Of The Initiative

The Mayor of Lugano, Michele Foletti commented on this initiative saying “the goal is to make Lugano a center of excellence for blockchain technologies”. With growing interest in crypto adoption across 150 businesses within the city since its launch last year it has made its place amongst other cities known for their technological advancements.

Impact On Blockchain Adoption

The success achieved by The Plan Initiative so far is attributed mainly due to its real-world use case which shows what potential blockchain technology holds when adopted across different industries worldwide. This also serves as an example that can be followed by other cities looking forward towards mainstream adoption & regulation when it comes to digital assets such as cryptocurrencies.

Conclusion

Launching such initiatives show how far blockchain technology has come since its inception & how much potential it holds if adopted widely across all sectors worldwide paving way towards digitalization & mainstream adoption leading us into a new era powered by decentralized technologies & digital assets like cryptocurrencies making transactions faster than ever before whilst ensuring maximum security at all times!

• Bitcoin supply on exchanges has hit its lowest level since 2017, when the crypto market saw its all-time high.
• This trend of Bitcoin leaving exchanges has been consistent since March 2020, when the crypto market bottomed ahead of a pandemic bull run.
• The decrease in Bitcoin supply is likely due to concerns over security and transparency, heightened after the FTX collapse.

Bitcoin Supply Falls to Lowest Level Since 2017

The balance of bitcoins on exchanges is now down to 2.27 million – that is the lowest mark since March 2018. This figure is even lower when compared to the overall supply; there is currently 11.8% of the Bitcoin supply on exchanges, which is the lowest mark since December 2017, when Bitcoin reached an all-time high price point.

Supply Decrease Since March 2020

The pattern of Bitcoin fleeing exchanges has been consistently falling since March 2020, when crypto bottomed ahead of an explosive pandemic bull run. Originally, people pulled their coins from exchanges in order to participate in a vibrant crypto ecosystem with high volumes and activity and much scope for yield farming and DeFi projects. However, today interest levels have fallen but this pattern continues – albeit for different reasons – with many fearing for their digital asset’s security and transparency after FTX collapsed earlier this year.

What Does This Mean?

The fall in bitcoins on exchange wallets could mean several things: it could be a sign that people are becoming more aware about keeping their coins safe by withdrawing them onto private wallets; or it could be an indication that financial institutions are buying up large amounts of bitcoin; or it may simply mean that people are holding onto their coins in anticipation of another bull run later this year. Ultimately only time will tell what lies ahead for bitcoin’s future price movements!

Not Your Keys Not Your Coins

The old saying „Not your keys not your coins“ rings true even more than ever before after FTX’s collapse earlier this year – reminding us once again just how important it is to keep our digital assets secure by withdrawing them off exchange wallets whenever possible!

Conclusions

Overall, bitcoins leaving exchanges shows us a clear indication that investors are becoming increasingly aware about protecting their investments by transferring them onto private wallets as well as being careful about where they store their digital assets. With news from institutional players such as Tesla investing into bitcoin also boosting confidence in the market, we can only hope for further positive developments in 2021!

• Two of Mt.Gox’s largest creditors, Mt. Gox Investment Fund and Bitcoinica, have opted for a reimbursement payout in Bitcoin.
• Creditors agreed to the reimbursement program in October 2021, with payments set to begin on 30 September 2023.
• The move is largely positive for Bitcoin as receiving the payments in cryptocurrency significantly reduces the impact of a dump if the Trustee had to liquidate coins in order to pay out in fiat.

Two Creditors Opt for Bitcoin Payout

Mt.Gox Investment Fund and Bitcoinica reportedly want their reimbursement from the Mt.Gox Trustee to be paid out in Bitcoin (BTC). The two firms are two of the largest creditors of Mt.Gox, a once-popular Bitcoin exchange that went bankrupt in 2014. A reimbursement program has been established for all creditors and payouts will begin on 30 September 2023.

Creditor Registration Deadline

Mt. Gox creditors have waited nearly a decade for compensation following the collapse of one of Bitcoin’s earliest exchanges. Earlier this year, Mt.Gox Trustee Nobuaki Kobayashi notified creditors that they can update their payout details until 10 March 2023 as they choose payment options – either cryptocurrencies or fiat currencies – before repayments commence on 30 September 2023.

Bitcoin Payout Positively Affects Crypto Market

Both Mt.Gox Investment Fund and Bitcoinica have chosen to receive 90% of their repayments in BTC, according to Bloomberg reports which stated that both firms will get paid out come September this year. This move is largely positive for Bitcoin as it prevents any potential dump from occurring if the Trustee had sold off coins held by them in order to pay out fiat currency compensation packages instead.

Bitcoin Price Reaches Highs Above $25k

The crypto market sentiment has ticked up despite US regulators‘ latest actions which saw BTC pushing above $24k once again following an earlier dip down near $23,300 mark on Friday (11:00 am ET). The price rose even higher again reaching highs above $25k this week due to these developments surrounding repayment plans being made official by top creditors opting for bitcoin instead of fiat currency payments..

Conclusion

Creditors of Mt Gox’s bankruptcy can now look forward to receiving some form compensation after almost a decade since its collapse with two major creditors opting towards payment packages being made available only through bitcoin rather than fiat currencies – thus preventing any possible dumps from occurring due such large sums potentially entering into circulation at once while also making sure those affected can receive some form of recompense regardless .

• Tether reported a net profit of $700 million in Q4 2022.
• The profit is in addition to the company’s reserves and was attested by BDO.
• Tether’s consolidated assets exceeded its liabilities as of Dec. 31, 2022.

Tether Reports $700 Million Net Profit in Q4 2022

Stablecoin issuer Tether published its latest attestation report on Thursday, February 9th, revealing a net profit of $700 million in the fourth quarter of 2022. This amount is in addition to the company’s reserves and was attested by accounting firm BDO.

Consolidated Assets Exceed Liabilities

The report stated that Tether’s consolidated assets exceeded its liabilities as of December 31, 2022, with total assets amounting to at least $67.04 billion and total liabilities amounting to $66.08 billion. This reflects excess reserves of at least $960 million and is part of shareholder equity – that which is over and above reserves.

Profit Part Of Shareholder Equity

Tether CTO Paolo Ardoino commented that; “It’s basically additional capital sitting in the company to further strengthen Tether.“ As such, the reported profit forms part of shareholder equity – i.e what is left after reserves are taken into account – rather than being taken from them directly.

$21 Billion Redemptions

The stablecoin issuer also revealed that it had smoothly executed over $21 billion dollars in redemptions during the tumultuous events of last year – an indication for continued organic growth and adoption for Tether’s services globally.

Removal Of Commercial Paper From Reserves

In October 2021, just two months before releasing this report, Tether pledged to stop issuing secured loans from its reserves – a step towards further strengthening transparency for their platform going forward.

• Indonesia is set to launch a national cryptocurrency exchange by June 2023.
• The government’s Trade Ministry has identified five active, registered exchanges from a list of 25 for the role.
• The Indonesian House of Representatives passed the Financial Sector Development and Reinforcement Bill as the country’s primary legal reference for the broader financial services industry.

Indonesia to Launch National Crypto Exchange

Indonesia is set to roll out its own national crypto exchange by June 2023, according to an announcement from the country’s Trade Ministry. The government has identified five active and licensed platforms from a list of 25 that will be included in the exchange.

Financial Sector Development and Reinforcement Bill

The Indonesian House of Representatives passed the Financial Sector Development and Reinforcement Bill which serves as the country’s primary legal reference for broader financial services industry. This includes regulations on digital asset exchanges being part of the new law. Currently, crypto assets trading in Indonesia fall under the purview of the Commodity Futures Trading Regulatory Agency (CFTC).

Regulatory Review Underway

A review of digital asset exchanges earmarked to join Indonesia’s national crypto exchange is currently underway. Trade Minister Zulkifli Hasan said there is a need for everything to be done properly before launch, as rushing could result in public harm due to lack of knowledge about trading cryptocurrencies.

Growing Crypto Community

Indonesia has one of the fastest growing crypto communities in Asia, with increased interest from both institutional and retail investors looking to take advantage of digital currencies such as Bitcoin and Ethereum. With more countries embracing cryptocurrencies, it is likely that other governments may soon follow suit with their own regulatory frameworks governing blockchain-based assets.

Conclusion

As more countries begin to recognize cryptocurrencies as legitimate investments, it’s likely we will see more nations introducing their own regulated exchanges in order to protect their citizens while also providing an avenue for investment opportunities within their own borders. It remains unclear how successful this initiative will be in Indonesia but it looks like they are taking steps towards creating a safe environment for crypto traders within their jurisdiction.

• The Bitcoin hash rate is the amount of computing power contributed towards mining.
• It has continued to take new all-time highs as the Bitcoin price has fallen and electricity costs have risen.
• A high hash rate implies a healthy and secure Bitcoin network.

The Bitcoin hash rate has been on a steady increase over the past year, taking new all-time highs and showing no signs of slowing down. In fact, the hash rate has nearly tripled since May 2020, showing an impressive level of resilience and strength in the Bitcoin network.

So, what is the Bitcoin hash rate and why is it at all-time highs? In order to understand this, we need to first understand what mining is and how it works. Mining is the process of validating blocks of transactions on the Bitcoin blockchain, and it is done by computers that are specifically designed for this purpose. These computers will solve complex mathematical puzzles in order to validate a block of transactions, and once it is solved, the miner responsible for solving the puzzle is rewarded with a certain amount of Bitcoin.

As more miners join the network and contribute their computing power, the hash rate increases. This means that more computing power is now being used to validate blocks, making the Bitcoin network stronger and more secure. As the hash rate increases, the difficulty of the mathematical puzzles also increases, meaning that it becomes increasingly difficult for miners to solve blocks. This is why miners usually join mining pools, as it allows them to combine their computing power and increase their chances of solving a block and earning rewards.

However, it should also be noted that a higher hash rate does not necessarily mean higher rewards for miners. In fact, as the hash rate has been increasing over the past year, the Bitcoin price has been falling and electricity costs have been rising, making it increasingly difficult for miners to remain profitable. This has led to some miners leaving the network, but the fact that the hash rate is still at all-time highs is a testament to the strength of the Bitcoin network.

Overall, a high hash rate implies a healthy and more secure Bitcoin network. This is especially important in this current climate, as the Bitcoin network is being used more and more as a safe haven asset and store of value. As the hash rate continues to take new all-time highs, it shows that the network is becoming increasingly secure, and this is good news for both miners and users who rely on the network for their transactions.

• Ethereum price has retreated this week as the put/call ratio on Deribit has risen.
• The put to call ratio is an essential tool that traders and investors use to predict whether an asset will rise or not.
• Data shows that Ethereum’s put/call ratio has edged upward slightly in the past few days.

Ethereum prices have been on a rollercoaster ride over the past few weeks, and this week was no exception. As the rally of the cryptocurrency cooled off, Ethereum prices retreated on Thursday as the put/call ratio on Deribit rose.

The put to call ratio is an important metric in the options market. It measures the ratio of traders who are placing put trades and those who are placing call trades. A put gives the trader the right to sell while a call gives them the right to buy. A lower ratio is usually preferred since it means that there are more buyers in the options market.

Data compiled by The Block shows that Ethereum’s put/call ratio has edged upward slightly in the past few days. The ratio has now risen from 0.24 on January 4 to a high of 0.3. This indicates that traders and investors are not as bullish as they were previously and may be a sign that Ethereum prices could be headed for a retracement.

In addition to the rising put/call ratio, data from CoinGlass shows that the number of short liquidations in key exchanges rose to the highest point in two weeks. This could be attributed to the weak corporate earnings from the United States, which has put a damper on the spectacular crypto comeback over the past week.

Overall, Ethereum prices have pulled back to $1,500 on Thursday, a decrease of over 5.90% from its highest point this year. It remains to be seen whether this is a temporary setback or the start of a larger correction. With the put/call ratio edging upwards, traders and investors should be wary of any further downside risks.

• Robinhood has announced that it will no longer accept Bitcoin SV deposits, and will delist the cryptocurrency from its platform by January 25th.
• Any Bitcoin SV held in customers‘ accounts will be sold at market value, with the proceeds returned to the respective users.
• Robinhood said that this decision was made as part of its regular review of the cryptocurrencies it offers.

Online trading app Robinhood has announced that it will no longer accept deposits of Bitcoin SV (BSV), and will delist the digital asset from its platform before the end of January. The decision was made as part of a regular review of the cryptocurrencies offered on the popular trading platform.

Robinhood said in a statement that it will cease accepting Bitcoin SV deposits starting from Wednesday, and will delist the cryptocurrency starting on January 25th. Any Bitcoin SV held in customers‘ accounts after this date will be automatically sold at market value, with the proceeds returned to the respective users.

The company stated that it has a “rigorous framework” in place to help it regularly review the crypto assets it offers. It is aiming to become “the most trusted, lowest cost, and easiest to use on-ramp to crypto”. By delisting Bitcoin SV, Robinhood hopes to further this goal.

The move has been met with mixed reactions from the crypto-verse. Some have praised the decision, citing the controversial behavior of Bitcoin SV’s proponents, while others have criticized the platform for making a decision that could affect the price of the digital asset.

Regardless of the opinions around the delisting, it is clear that Robinhood is taking a more active role in the crypto space, and is doing so to ensure the safety and trustworthiness of its platform. It remains to be seen what other cryptocurrencies might be added or removed in the future.

• The cryptocurrency market experienced significant growth in 2021, leading to increased interest from global companies.
• Traditional companies are now using digital currency due to the advantages it offers such as fast payments, no need for verification, and minimal or no fees.
• Markets that will likely switch to cryptocurrency in 2023 include online casinos, bookmakers, real estate, and finance.

Despite the current crypto winter, the cryptocurrency market experienced significant growth in 2021, leading to an increase in interest from global companies. Many of these companies have now decided to transition their businesses to the use of digital currency due to the advantages that this technology offers. Fast payments, no need for verification, and minimal or no fees are just some of the reasons why companies are turning to cryptocurrency.

The most popular area of application of cryptocurrency is the sphere of gambling on the Internet. Both online casinos and bookmakers can make payments in bitcoins and other tokens, as this allows customers to instantly replenish their accounts and withdraw winnings. This is especially beneficial for those who are looking to place bets or play casino games without having to wait for lengthy verification processes or pay exorbitant fees.

Apart from gambling, a number of other markets are likely to switch to cryptocurrency in 2023. Real estate, for instance, is already seeing the emergence of tokenized properties, allowing for faster, cheaper, and more secure transactions. The finance sector is also expected to see an increase in the use of digital assets, with more and more companies offering services related to cryptocurrency trading, lending, and investing.

Cryptocurrency is also expected to become more widely accepted as a form of payment. Already, major companies such as Microsoft, Starbucks, and Apple are allowing their customers to purchase goods and services using digital coins. This trend is likely to continue in the coming years, with more and more retailers embracing cryptocurrency payments.

Clearly, the cryptocurrency industry is here to stay, and its usage is expected to explode in the coming years. Companies across a range of industries are starting to recognize the potential of this technology, and are beginning to make the transition to digital currency. With the right infrastructure in place, we can expect to see an even greater surge in the use of cryptocurrency in 2023.