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• Vietnam is the second largest cryptocurrency holder in ASEAN region after Thailand.
• The country has an average of 200 distributed ledger blockchains as of 2022.
• There have been numerous instances where the Vietnamese government has been calling for crypto regulations.

Vietnam Second Largest ASEAN Crypto Holder

Vietnam is the second largest cryptocurrency holder in ASEAN region after Thailand, with over 16.6 million cryptocurrency holders.

Crypto Projects in Vietnam

According to the Coin98 Insights Vietnam Crypto Market Report 2022, Vietnam has an average of 200 distributed ledger blockchains as of 2022. 31% of the 16.6 million crypto holders have bitcoin.

The most active blockchain projects in the country include NFTs (non-fungible tokens), GameFi (game finance), infrastructure, wallets, DeFi (decentralized finance), and web3 (decentralized Internet). Metaverse platforms and games projects make up 28.8% of blockchain projects. DeFi accounted for 26.0%, including Coin98 Finance, Rikkei Finance, and Kyber Network. NFT projects comprised 12.4%, Axie Infinity, DareNFT, Titan Hunters, and Spores. Infrastructure projects took 11.3%, including TomoChain and SotaTek, while web3 occupied 5.1% of the assets.

Seven of the top 200 blockchain companies were founded by Vietnamese citizens.

Growth and Adoption Of Cryptocurrency In Vietnam

The cryptocurrency industry in Vietnam has grown tremendously despite government interference with investor activities.

Silicon Valley Bank Causes Stock Market Crash

• Silicon Valley Bank failed to reassure customers, causing both stock and crypto markets to panic.
• Investors sold shares, leading to a 60% decrease in the bank’s parent company’s stock.
• Hedge funds have urged investors to withdraw their cash from the failing bank.

SVB Financial Group Plunges

The news of Silicon Valley Bank (SVB) offering $1.75 billion in stock earlier this week sent shockwaves throughout the market, leading to a dramatic decrease in the shares of SVB Financial Group, the bank’s parent business. The share prices plunged by more than 60%. On March 10th pre-market trading, it lost another 44%.

Hedge Funds Urge Investors To Withdraw Cash

In response to this news, Peter Thiel’s Founders Fund has recommended that portfolio firms remove their cash from Silicon Valley Bank. Pantera Capital, both a hedge fund and venture investor has advised its portfolio companies to investigate opening several accounts elsewhere as well. Five other venture capital investors in cryptocurrency have also given similar advice but requested that their names not be used due to commercial sensitivities involved.

Crypto-Friendly Silvergate Bank Fails

The recent failure of Silvergate Bank caused further difficulties for SVB at a time when cryptocurrency firms are already seeking banking alternatives. Users have reported difficulty logging into accounts associated with SVB on Twitter and other social media platforms. According to its website, SVB has worked with over 2,600 financial technology industry customers alone.

Conclusion

As Silicon Valley Bank continues to struggle financially, investors are pulling out of both stocks and cryptos just as quickly as they did when Silvergate Bank failed earlier this week. Hedge funds like Peter Thiel’s Founders Fund and Pantera Capital are advising portfolio companies against putting money into the failing bank while encouraging them to look for alternative banking solutions instead.

•Riot Platform Inc., one of the leading Bitcoin mining companies in North America, released its 2022 annual financial report indicating a net loss of $509.6 million.
•The losses were largely due to non-cash impairment charges related to goodwill, Bitcoin and miner impairments.
•Crypto enthusiasts on Twitter have expressed dissatisfaction with the company’s losses, as well as their refusal to pay executives about $90 million in compensation.

Riot Platform Inc.’s Annual Report

Riot Platform inc., one of North America’s largest bitcoin (BTC) mining companies, released its 2022 annual financial report indicating a net loss of $509.6 million. According to the annual report released on March 2, the company suffered significant non-cash impairment charges which included amortization, stock depreciation, and goodwill charges.

Non-Cash Impairment Charges

Non-cash impairment charges are accounting expenses not settled in cash payments. In the case of Riot, non-cash impairment payments related to goodwill, bitcoin, and miner impairments were the most impactful and accounted for approximately $538.6 million in losses. Additionally, bitcoin depreciation and amortization accounted for an additional $108 million loss while non-cash stock-based compensation resulted in a further $24.5 million loss.

Riot’s Assets

Riot has reported that at the end of 2022 it will have a total cash balance of $230 million with no long-term debt and 6,974 bitcoins in its possession; this was complemented by its acquisition of Whinston’s facility and ESS Metron which accounted for a goodwill impairment charge of $335.6 million dollars as ESS Metron is among market leaders when it comes to designing highly engineered electrical products..

Reaction from Crypto Enthusiasts

Crypto enthusiasts on Twitter have expressed dissatisfaction with Riot’s losses as they refused to pay executives approximately $90 millions in compensation even though they had just lost over half a billion dollars during that year alone – this raised concerns amongst many users who felt that those responsible should be held accountable for their actions despite being unable to make any profits during what was seen as a „bullish market“.

Conclusion

Overall Riot Platform’s annual financial report for 2022 revealed significant losses due largely to non-cash impairment charges such as goodwill payment issues involving miners and bitcoins depreciation; these results provoked criticism from crypto enthusiasts who felt that those responsible should not receive any bonuses or higher salaries after suffering such huge losses during what was seen as a profitable market period overall..

• CoinEx, a Hong Kong-based crypto platform, is facing a lawsuit from New York Attorney General Letitia James for falsely presenting itself as an exchange without registering as a securities and commodities broker-dealer in the state.
• The NYAG’s office claims that CoinEx had listed various tokens and services that qualify as securities and/or commodities under state law, and failed to comply with a subpoena issued on Dec. 22, 2022.
• As a result of the allegations, the NYAG’s office is seeking CoinEx to geofence New York by blocking local IP addresses, cease doing any business in the state, provide „full monetary restitution“, and pay NYAG fees.

CoinEx Sued by NYAG

Hong Kong-based crypto platform CoinEx is facing a lawsuit from New York Attorney General Letitia James for falsely presenting itself as an exchange without registering as a securities and commodities broker-dealer in the state.

Allegations Filed Against CoinEx

The petition filed on Feb. 22 in the Supreme Court of the State of New York claimed that CoinEx had listed various tokens and services that qualify as securities and/or commodities under state law. It also noted that CoinEx had failed to register with regulators before offering its services in the state.

The Attorney General’s office also alleged that CoinEx failed to comply with a subpoena issued on Dec. 22, 2022 requiring them to “provide testimony concerning the virtual asset trading activities of its platform.“

The filing stated that Flexa’s AMP, LBRY’s LBC, Terraform Labs‘ LUNA, and Rally’s RLY tokens are both securities and commodities under state law while also noting that CoinEx had listed itself as an exchange on its website and offered services similar to those that national securities exchanges or other similar platforms may offer.

New York Seeking Restitution From CoinEX

As a result of these allegations against it, The NYAG’s office is seeking full restitution from Coinex which includes geofencing New York by blocking local IP addresses; ceasing all business within the state; providing full monetary restitution;and paying all applicable fees owed to The NYAG’s Office.

Previous Crypto Lawsuits In New York

< p >New York has been an active player in pursuing cryptocurrency companies who have broken regulations including Alex Mashinsky (the former CEO of crypto lender Celsius), Bitfinex ,and Tether . These efforts have resulted in up to $22 .5 million being secured from Nexo Inc .

< h2 >Conclusion
< p >Coinex is just one more cryptocurrency exchange facing legal action due their operations not meeting regulatory requirements . This case serves as reminder for other crypto exchanges operating without proper registration can expect consequences if caught by authorities .

• Forbes journalist Roslyn Layton has filed a motion to intervene in the ongoing Ripple Labs vs. SEC litigation to gain access to Hinman speech documents.
• The motion is based on Layton’s First Amendment rights and federal common law granting her access to the documents.
• If granted, the ruling could have a major impact on the cryptocurrency industry in the US.

Forbes Journalist Files Motion for Access to Hinman Speech Documents

Forbes journalist Roslyn Layton has filed a motion to intervene in the ongoing litigation between Ripple Labs and the US Securities and Exchange Commission (SEC) in order to gain access to documents related to William Hinman’s controversial 2018 speech.

Layton Arguments For Document Release

Layton is represented by attorney J. Carl Cecere, who argues that both the First Amendment and federal common law provide her with a fundamental right of access to these judicial documents. According to Layton, this case has major implications for not just Ripple, its execs, and XRP holders; but for crypto as a whole.

Reaction from Crypto Community

Layton’s motion has received mixed reactions from members of the crypto community. Pro-XRP lawyer John Deaton applauded Cecere and Layton for petitioning the court for public access.

Hinman Documents

The documents at stake are emails and other internal communications associated with Hinman’s draft speech that stated Bitcoin (BTC) and Ethereum (ETH) are not securities.

< h2 >Impact Of Ruling < p > If granted, this latest motion gives presiding Judge Torres another reason for consideration when making his ruling regarding Hinman’s documents — which could have significant repercussions across the entire cryptocurrency industry in America.

• Blur NFT marketplace is the top performer in trading volume, surpassing OpenSea.
• Blur currently accounts for 46% of the total weekly trading volume compared to OpenSea’s 36%.
• Despite being second in terms of trading volume, OpenSea leads the pack in the number of weekly trades.

Blur Outperforms OpenSea

The NFT marketplace Blur is outperforming OpenSea in terms of trading volume despite having fewer traders than the latter. Data from Dune analytics, a blockchain data provider, shows that Blur currently accounts for 46% of the total weekly trading volume compared to OpenSea’s 36%. This means that Blur has scooped up a lion’s share of the total NFT volume traded across all marketplaces.

OpenSea Leads In Number Of Trades

Despite being second in terms of trading volume, OpenSea still leads the pack when it comes to the number of weekly trades. As per on-chain data, OpenSea houses approximately 29,600 transactions whereas Blur only saw 12,601 trades.

Bidding Pools Reach All-Time Highs

Since its launch in October last year, Blur NFT marketplace has raised 11 million dollars and its bidding pools have skyrocketed to all-time highs of $42 million. This is around two thirds (2/3) of Aptos TVL (Total Value Locked).

Keungz Incident

On Dec 8th 2020 a Twitter user named Keungz lost 70 ETH worth approximately $83 thousand at that time using Blur’s bidding system. The incident was later linked to a fault on their platform which resulted in them refunding 50% of what was lost back to Keungz as compensation.

Conclusion

In conclusion, despite being relatively new and having fewer traders than its competitor; OpenSea;Blur is dominating NFT sector trade activities with its high volumes and soaring bidding pools.

1. Tesla recorded a $204 million loss in gross impairment in 2022 for its bitcoin holdings, yet still made a $64 million profit from converting its bitcoin holdings to fiat currencies.
2. Tesla purchased $1.5 billion worth of BTC in early February 2021 and announced a sale in July of 75% of the BTC.
3. Elon Musk has shown great influence in the crypto world as an advocate for Dogecoin and other digital assets.

Tesla, the electric vehicle manufacturer, recently reported a $204 million loss in gross impairment for its bitcoin holdings in 2022, as reported by the United States Security and Exchange Commission. Despite this, Tesla still saw some profits from converting its bitcoin holdings to fiat currencies last year.

The company purchased $1.5 billion worth of BTC in early February 2021 and accepted bitcoin payments in March of the same year. In July of the same year, Tesla announced a sale of 75% worth of bitcoin, which was fostered by the lockdown situation in China at the time. CEO Elon Musk clarified that the company had no hostile view against bitcoin, and that they are open to expanding their bitcoin holdings in the future.

Despite the huge sell-offs in the bear market of 2022, Elon refused to liquidate the remaining bitcoin stockpile and continued to HODL. This speaks volumes to Elon’s passion for crypto and his influence on the market. A recent report from the Financial Times described Elon’s influence on Dogecoin’s price fluctuations as he explored new social media payment methods. His influence resulted in a 6% spike in DOGE token price but is still yet to break through the critical resistance.

Overall, Tesla’s bitcoin holdings have seen a net loss of $140 million in trading activities, yet the company continues to show its support for digital assets through its ongoing investment in the space. Elon Musk’s influence on the crypto market cannot be understated as his support for Dogecoin and other digital assets has had a tremendous impact on the prices of these tokens. As the crypto market continues to grow and evolve, Tesla and Elon Musk will remain major players in the space.

• Matrixport’s new research report shows that the price of bitcoin (BTC) has risen by an average of 9% during every Chinese New Year (CNY) since 2015.
• According to the report, traders who purchased BTC at the end of the first day of CNY and sold it 10 days later would have made a decent 9%+ on their BTC holding.
• At the time of writing, the bitcoin price is hovering around the $22,900 level and could reach the $25,000 mark by February 1 if history repeats itself.

With the Chinese New Year (CNY) in full swing, Matrixport has released a new research report that gives a glimpse of the potential gains investors can make from buying Bitcoin (BTC) during this period.

The report, entitled “Chinese New Year, a Buy Signal for Bitcoin”, reveals that the price of Bitcoin (BTC), the world’s premier cryptocurrency, has gained an average of 9% during every CNY since 2015. The report further highlights that investors who bought BTC at the end of the first day of the CNY and sold it 10 days later would have made a decent 9%+ on their BTC holding.

Citing the CNY of 2017 as an example, the report explains that traders who bought BTC at the end of the first day of the CNY and sold it 10 days later made a 15% profit. Similarly, the CNY of 2021 and 2016 saw investors making 14% and 13% respectively.

At the time of writing, the bitcoin price is hovering around the $22,900 level. According to the report’s predictions, BTC could surpass the $25,000 mark by Feb. 1 if history repeats itself. This would represent a significant increase from its current level, providing a great opportunity for investors to make solid returns on their investments.

In conclusion, Matrixport’s research report shows that BTC could benefit from an upsurge during the CNY period, offering investors the chance to make significant returns. The report further highlights that investors who buy BTC during this time should ensure that they are able to sell it in the 10-day trading period following the CNY to maximize profits. In any case, investors should always do their own research before investing in BTC or any other cryptocurrency.

• Binance has officially launched its institutional trading collateral custody platform called Mirror.
• The platform allows institutional traders to store their trading collateral away from the exchange in cold wallets.
• Binance Mirror offers the security benefits institutional investors require for custody of their assets.

Binance, a leading crypto exchange platform, has announced the official launch of its new platform, Binance Mirror. Binance Mirror is designed to provide institutional traders with a secure and efficient way to store their trading collateral away from the exchange. This platform is part of Binance’s Custody service and offers a range of benefits to traders.

Binance Mirror is designed to give institutional traders the option of securing their collateral away from the exchange, while still having access to it when they need it. This is done by mirroring the balance in the trader’s trading wallet on Binance. This means that the collateral remains active and is open on the exchange during the duration of a trade.

In addition to keeping collateral away from the exchange, Binance Mirror also offers traders the option of taking out VIP loans against their mirrored balance. This loan is secured by the collateral in the mirrored balance, which is kept separate from exchange-held funds for the duration of the loan. This gives traders more flexibility in how they use their collateral.

Athena Yu, VP of Binance Custody, stated that Binance Mirror offers the security benefits institutional investors require for custody of their assets. Binance spent much of last year refining the platform’s operations to ensure that clients could unlock the liquidity of their assets held in cold storage.

Binance Mirror is an important step forward in the world of institutional trading, allowing traders to securely store their collateral while still having access to it when they need it. With the platform now officially launched, Binance looks forward to seeing an increase in adoption of its services.

• Worlds Enterprises, Inc., an industrial metaverse firm, has secured $21.2 million in its Series A1 funding round.
• The project aims to use the funds to bolster its AI solutions and expand its technology.
• Experts project the global metaverse market to grow from $61.8 billion in 2022 to over $426 billion by 2027, a CAGR of 47.2%.

Worlds Enterprises, Inc., a web3 project that has developed a 4D system for building the industrial metaverse, recently announced the successful completion of its $21.2 million Series A1 funding round. Led by U.S.-based VC firm Moneta Ventures, the round also saw participation from Chevron Technology Ventures, Piva Capital, and more.

With this new influx of capital, Worlds plans to bolster its artificial intelligence (AI) solutions and further expand its technology. The industrial metaverse project is aimed at providing businesses with a platform to unlock unrealized value, by utilizing AI to automate operations and processes in the supply chain, manufacturing, energy, logistics, and more. According to Dave Copps, the CEO of Worlds, the project’s mission is to “race toward a future where the digital and physical worlds fully converge and radically change how they measure, analyze, and reimagine their businesses.”

The global metaverse market is projected to experience immense growth over the next few years. Experts estimate that the market, which was worth $61.8 billion in 2022, will be worth over $426 billion by 2027, a Compound Annual Growth Rate (CAGR) of 47.2%.

The news of Worlds’ successful funding round comes at a time when web3 projects and companies linked to bitcoin (BTC) are facing immense market pressures due to the prolonged market downturn and FTX contagion. This makes Worlds’ achievement of securing $21.2 million all the more impressive, as the firm defies the crypto winter, and looks ahead to a future of growth and success.