• Two high-ranking executives of the fraudulent crypto exchange, V Global, were sentenced to eight years and three years in prison, respectively.
• V Global reportedly lured investors by promising 300% returns and required new users to create accounts and deposit 6 million Korean won initially.
• With the latest arrests, there are now seven V Global execs serving their sentences behind bars.

The South Korean authorities have recently tightened their control over the digital asset space. In line with this, two high-ranking execs of the fraudulent crypto exchange, V Global, were recently sentenced to prison terms. Mr. Yang was sentenced to eight years while Mr. Oh was sentenced to three years for their role in defrauding investors.

V Global, which operated between July 2020 and April 2021, reportedly lured investors by promising 300% returns. To join the platform, new users were required to create accounts and deposit approximately 6 million Korean won initially. This deposit was supposedly guaranteed to deliver returns of 18 million won.

Unfortunately, as it turns out, the exchange was fraudulent and operated with malicious intent. It ran a Ponzi scheme, where new investors’ money was used to pay off old investors. This led to a loss of about 18 billion won for the exchange’s investors.

In addition to Mr. Yang and Mr. Oh, five other V Global execs were also arrested. These included the CEO, the CFO, the CMO, the CTO, and the COO. They are all currently serving their sentences behind bars.

The South Korean authorities are now taking extra measures to ensure that such fraudulent activities don’t take place in the future. They have implemented stricter regulations and are conducting more frequent inspections of crypto exchanges.

The financial authorities have also issued warnings to the citizens about investing in digital assets. They have urged investors to be extra cautious and to do their due diligence before investing in any crypto projects.

In conclusion, it is clear that the South Korean authorities are now taking the matter of fraudulent crypto exchanges very seriously. With the latest arrests, seven V Global execs are now serving their sentences behind bars. This should serve as a warning to those who intend to carry out similar fraudulent activities. It is best to stay away from such illegal activities and investments.

• Coinbase customers have refused to share account information in a lawsuit against the crypto exchange.
• The plaintiffs are seeking at least $5 million in damages and have agreed to provide the necessary information in exchange for a protective order.
• The plaintiffs allege that $6,000 worth of cryptocurrency was drained from their wallet to an address they had never interacted with before, facilitated by Coinbase.

Coinbase, one of the world’s leading cryptocurrency exchanges, is facing a lawsuit by customers alleging that the platform failed to protect their crypto assets. The plaintiffs, who have refused to share their account information, are seeking at least $5 million in damages.

The lawsuit involves a group of customers, who accuse Coinbase of allowing unauthorized transfers of their cryptocurrency from their wallets to an address they had never interacted with before. The plaintiffs allege that $6,000 worth of cryptocurrency was drained from their wallet, facilitated by Coinbase.

The plaintiffs have agreed to provide Coinbase with the necessary information, such as emails, usernames, and Ethereum addresses, in exchange for a protective order. This means that the account information would only be used in the arbitration process and would not be made public.

Coinbase has argued that the case should be moved to arbitration, as the customers agreed to the company’s terms of service and user agreement. However, the plaintiffs are refusing to provide their account information, as they are concerned that it could be used against them in arbitration.

The legal battle between Coinbase and its customers has been ongoing since late 2019. Despite the fact that the plaintiffs have refused to provide their account information, Coinbase is pushing for the case to be moved to arbitration.

The outcome of the case could have a major impact on the way cryptocurrency exchanges protect customer assets. If Coinbase is found liable for the unauthorized transfers, it could force other exchanges to take more steps to protect their customers’ crypto assets.

It remains to be seen whether the case will be moved to arbitration or if the plaintiffs will continue to hold back their account information. If the case is resolved in the plaintiffs’ favor, it could set a significant precedent that would protect cryptocurrency users from similar issues in the future.

• Huobi is reportedly planning to reduce its workforce from 1,200 to 600-800 and is cutting senior executive salaries.
• The exchange is reportedly cancelling its yearly bonuses as well.
• The news follows a trend of layoffs in the crypto industry due to the current market conditions.

Huobi, one of the largest cryptocurrency exchanges in the world, is reportedly planning to make major workforce cuts and salary reductions. According to Chinese reporter Colin Wu, Huobi is about to join the crypto layoff trend with its plans to reduce its team size and cut the salaries of senior employees.

The news follows a trend of layoffs in the crypto industry due to the current market conditions. Many companies have been forced to downsize as the price of Bitcoin and other cryptocurrencies have fallen drastically in the past year. Last month, rumors swirled that Huobi would be one of the companies affected by the crypto winter, but the exchange quickly debunked them, stating that they had no plans to reduce their headcount. However, sources familiar with the situation have now confirmed that Huobi will indeed be cutting its workforce and reducing the salaries of its senior executives.

According to the report, Huobi is planning to reduce its team size from 1,200 people to between 600 and 800 employees. In addition, the exchange will be cancelling its yearly bonuses. Layoffs will reportedly begin in the near future, and senior executives’ salaries will be reduced by as much as 30-50%.

The news of Huobi’s impending layoffs comes at a difficult time for the crypto industry. Many companies have been forced to make difficult decisions in order to survive the bear market. Last month, cryptocurrency exchange Binance announced that it would be cutting its workforce by 7%, while Coinbase and OKEx are also reportedly planning to downsize.

It remains to be seen how Huobi’s layoffs and salary cuts will affect the exchange’s operations and its employees. It is also unclear if the move will be enough to help the exchange weather the current market conditions. However, it is clear that the crypto industry is facing difficult times, and many companies are being forced to make difficult decisions in order to survive.

• MicroStrategy has bought more than 2,000 bitcoins, bringing its total to more than 132K.
• FTX is making headlines due to its involvement in a $5B Contagion Protocol.
• Bitcoin’s price continues trading in a range while MicroStrategy buys more of it.

The crypto market has seen a plethora of activities and events in the last week of 2022. Michael Saylor’s MicroStrategy has been at the forefront of these, having revealed another purchase of more than 2,000 bitcoins, bringing its total to more than 132K. This is a significant milestone for the company, as it has been quite active in buying Bitcoin and other cryptocurrencies.

On the other hand, FTX is making headlines due to its involvement in a $5B Contagion Protocol. The protocol is designed to spread the risk of digital assets to other participants in case of an extreme loss. FTX’s involvement has been lauded by many, as it provides an extra layer of security and can be used as a hedge against the volatility of the crypto market.

In terms of price action, Bitcoin continues trading in a range, failing to break past the $30,000 mark. This lack of volatility has been a bit of a disappointment for investors, as the coin has failed to show any signs of life during this time. However, with MicroStrategy continuing to buy more Bitcoin, there is a possibility that this could lead to a price surge in the near future.

Finally, it is worth noting that the crypto market has been relatively stable over the past week. This stability has been a welcome respite for investors, as it allows them to make more informed decisions when investing in cryptocurrencies. With the upcoming new year, this stability could be crucial to the success of the crypto market, as investors need to be able to trust the market before they can commit to investing in it.

• FTX Japan plans to resume customer withdrawals in mid-February 2021.
• The exchange is working with Liquid, a Japanese platform acquired by FTX, to facilitate the refund process to users.
• FTX Japan is building a new system different from the one used by its parent company to enable customers to access their funds on the platform.

FTX Japan, the Japanese division of the bankrupt crypto exchange, has announced that it plans to resume customer withdrawals in mid-February 2021. This follows the suspension of the service last month due to the bankruptcy filing of its parent company.

In order to facilitate the refund process to users, FTX Japan is collaborating with Liquid, a Japanese platform acquired by FTX this year to aid its Asian expansion. The exchange has pledged to build a new system different from the one used by its parent company to enable customers to access their funds on the platform.

The exchange has also assured customers that their assets will remain safe during the withdrawal process. To ensure customer safety, FTX Japan has implemented a comprehensive security system that includes two-factor authentication, cold storage, and anti-money laundering measures.

FTX Japan has also stated that it will be introducing a new user interface to make it easier for customers to access their funds. The new platform will feature a more intuitive design and improved user experience.

The exchange has also promised to provide customer service through its website and email to address any issues related to the withdrawal process. In addition, FTX Japan is committed to providing timely updates on the progress of its customer refund process.

For now, customers must wait until mid-February 2021 before they can withdraw their assets from FTX Japan. In the meantime, the exchange is working hard to ensure that the customer refund process goes smoothly and that customers‘ funds remain secure.

• Coti announced the successful hard fork event – MultiDAG 2.0 – that aims to transition the ecosystem from a single currency infrastructure to a multi-token network.
• The Mainnet was launched on December 29th and Explorer 2.0 and Bridge 2.0 wallet app were also deployed.
• The launch of MultiDAG 2.0 will increase the growth of the widespread adoption of crypto payments for enterprises that are yet to adopt crypto payment solutions.

On Thursday, blockchain protocol Coti announced the successful hard fork event – MultiDAG 2.0 – that will transition the ecosystem from a single currency infrastructure to a multi-token network. The Mainnet was launched on December 29th and was accompanied by the deployment of Explorer 2.0 and Bridge 2.0 wallet app.

The Coti team said that the launch of MultiDAG 2.0 is a massive step for the crypto industry, as it will increase the growth of the widespread adoption of crypto payments for enterprises that are yet to adopt crypto payment solutions. The hard fork event will enable Coti to create a multi-token network, which will allow individuals and institutions to transact with multiple types of digital assets on the platform.

The MultiDAG 2.0 will also introduce a new consensus mechanism called DAG-Mining. This consensus mechanism is based on a decentralized, distributed ledger that can process thousands of transactions per second and is more secure than a traditional blockchain. Additionally, the protocol allows users to stake their COTI tokens and receive a reward for their contribution to the network.

The Coti team believes that the launch of MultiDAG 2.0 will make it easier for users to use digital assets on the platform, as well as make it easier for enterprises to adopt crypto payments. The protocol also offers a number of features such as instant payments, low transaction fees, and an intuitive user interface.

With the launch of MultiDAG 2.0, Coti is hoping to become the go-to platform for crypto payments and asset management. The team believes that the hard fork event will help create a new and innovative ecosystem that will make using digital assets easier and more secure.

• Cryptocurrency lender Celsius Network is filing for a motion requesting an extension for users to submit their claims.
• The bar date is currently slated for January 3rd, with the motion to be heard by the bankruptcy court on January 10.
• Celsius had filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Southern District of New York in July.

Cryptocurrency lender Celsius Network recently announced that it is requesting an extension for users to submit claims. According to the announcement, the bar date is currently slated for January 3rd, and the motion is scheduled to be heard by the bankruptcy court on January 10. This means that the deadline will be extended until at least that date.

The announcement comes after Celsius Network filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Southern District of New York in July. This was following the unraveling of the Terra ecosystem tokens. In the court filing by counsel, Celsius is requesting the court to provide an extension of 90 days for users to submit their claims.

The motion has been filed in order to give users more time to adequately prepare their claims. Until the motion is heard, the deadline has been extended until then. Celsius Network said that they will provide further updates on the bar date as they become available.

Celsius Network also noted that the filing of the motion does not guarantee that it will be approved. It is also important to note that the filing of the motion does not prevent creditors from filing their claims now. Any claims filed before the bar date will still be accepted and processed.

The filing of the motion is a sign of good faith on the part of Celsius Network. It shows that the company is taking proactive steps to ensure that users have adequate time to prepare their claims and that their rights are protected. It also shows that the company is committed to providing a fair and equitable process for all parties involved.

Celsius Network is a cryptocurrency lending platform that allows users to borrow and lend digital assets with the help of a wide range of products. It has grown to become one of the leading companies in the cryptocurrency lending space, with a network of over 300,000 users worldwide. The company aims to provide a secure, reliable, and transparent platform for users to access the cryptocurrency market.

The filing of the motion is a positive step towards protecting the rights of users and providing them with the time they need to prepare their claims. It is also a sign of good faith on the part of Celsius Network, and a testament to the company’s commitment to providing a fair and equitable process for all parties involved.