News
Bankrupt lender, Genesis Global Capital reaches a deal with crypto exchange Gemini to return creditor assets (Link)
Gemini will contribute $100 million
Digital Currency Group (owner of Genesis) will exchange its existing $1.1 billion note due in 2032 for convertible preferred stock, and refinance its existing 2023 term loans
Two tranches will be made payable to creditors with an aggregate total value of approximately $500 million.
Decentralized cloud storage protocol, Filecoin grew total network usage (data stored) by over 1,800% in 2022 (Link)
Filecoin has grown to over 1% of total global cloud storage capacity in two years
File storage on Filecoin costs 95% less than Amazon S3
Crypto-asset exchange, Kraken reaches a $30 million settlement with the US SEC due to a lack of disclosures for their Ethereum staking service (Link)
Kraken allows users to deposit Ether (ETH) to be staked on their behalf in return for a fee
Kraken will shut down their staking product for US customers
NFTs on the Bitcoin network (smokes, on-chain monkeys, punks, and more) are launching using the Ordinal protocol (Link)
Inscriptions, through the Ordinal protocol, allow users to embed data, usually images, directly onto the Bitcoin blockchain
Close to 50,000 NFTS have been inscribed
Peer to peer Bitcoin exchange, Local Bitcoins to shut down after over 10 years of operation (Link)