Crypto Daily Roundup, 23 Jan: Is Bitcoin Heading into a Bear Market

Crypto currency values have risen during the previous 24 hours.

Top 5 Gainers Coins

Crypto News Key Highlights:

• Investors have shed over $2 billion in Grayscale Bitcoin Trust (GBTC) holdings, with a notable portion attributed to FTX's bankruptcy estate selling 22 million shares. Despite its decade-long existence, GBTC faced selling pressure as spot bitcoin ETFs gained SEC approval on January 11.

• Elon Musk refutes X's claim of raising $500 million toward its $1 billion goal, denying any investments. He announces X equity investors receive a 25% stake in xAI, positioning it as a superior alternative to OpenAI's ChatGPT, with Grok leveraging X's current data for a competitive edge.

• Kaspersky Labs uncovered new macOS-targeting malware spreading through pirated software, replacing Bitcoin and Exodus wallets. The hackers compromise apps from unauthorized sources, extracting passwords and crypto keys. Users can protect against this campaign by using trusted sites and updating their OS. The FBI warns of hackers disguising malware as legitimate wallets. In November, the Lazarus Group targeted macOS users in the decentralized finance community via Discord with malware.

• Sega takes an unexpected step into blockchain, joining forces with Finschia to explore Web3 gaming's potential. The partnership aims to revitalize classic franchises through innovative blockchain-based games. Sega expands involvement with Finschia for governance and introduces NFTs, allowing player ownership and trading.

• MoonDAO, led by co-founder Pablo Moncada, aims to establish a self-sustaining moon colony within seven years, leveraging a decentralized autonomous organization (DAO) model. While acknowledging the ambitious goal, Moncada believes DAOs can revolutionize space exploration by involving everyday people in funding and decision-making.

• FTX estate, linked to the failed crypto exchange and hedge fund Alameda Research, reportedly sold over two-thirds of its Grayscale Bitcoin Trust (GBTC) shares, potentially earning $600 million. The move followed GBTC's conversion to an ETF on Jan. 11. Alameda had previously sued Grayscale for high fees, but dropped the lawsuit on Jan. 22.

• Maxine Waters and the U.S. House Financial Services Committee are urging Meta to disclose its blockchain and crypto plans, citing five trademark applications from March 2022. Waters seeks clarity on Meta's involvement in Web3, crypto, digital wallets, stablecoins, and distributed ledger technology. Meta must respond by July 16.

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also read - 24 Crypto Update, 22 Jan: Is Crypto at the brink of a bearish trend