🦎🚀 Time for a full recovery?

Tuesday, February 7, 2023

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Manifesting a green week 🆙

Gemini Earn inches a step closer to recovering their funds with an agreement between cryptocurrency exchange Gemini, crypto lender Genesis and conglomerate Digital Currency Group (DCG).

Gemini will contribute up to $100 million for its Earn program users, with the funds being raised with DCG selling Genesis Global Trading amongst other means.

DCG will further exchange its existing notes amounting to $1.1 billion for stock and refinance $1 billion in loans

In today's news, Binance halts USD bank transfers, Yuga settles copycat lawsuit and frenzy over a16z's involvement in Uniswap governance.

Read on!

24h Hot Searches Worldwide

SingularityNET (+29.0%)
Fetch.ai (+31.0%)
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MarsDAO (-12.3%)

The cryptocurrency market was down last year after numerous setbacks, falling 64% from $2.31 trillion at the start of 2022, to $829 billion by the end of the year.

Sentiment in the crypto market appeared to shift from bearish to bullish in 2023. How has the market fared in January 2023?

Read on: https://gcko.io/46uyer4

Will Illuvium dominate the GameFi space in 2023? Find out more in our latest podcast with Kieran Warwick, the co-founder of Illuvium!

Tap here to watch!

Bank Transfers Suspended

Cryptocurrency exchange Binance announced the temporary suspension of U.S. dollar bank transfers beginning Wednesday February 8th.

The industry giant reported that only a marginal portion of 0.01% monthly active users use USD bank transfers and will be informed of the change directly.

In the meantime, all other methods such as other fiat bank transfers, credit cards, and others would still be available. The suspension notably would not affect Binance's U.S. division.

CoinDesk

Yuga Labs Settles Trademark Suits

The creator of blue-chip NFT project Bored Ape Yacht Club has settled a lawsuit with developer over copycat collection.

Developer Thomas Lehman assisted copycat collection creator Ryder Ripps in creating the smart contract for the collection.

While the lawsuit against the developer has been settled, a separate lawsuit against Ripps is still pending.

Cointelegraph

Another Crypto Governance Experiment

Flagship decentralized cryptocurrency exchange Uniswap took center stage over a divisive proposal of deploying on the BNB chain.

The controversy arises from venture capital Andreessen Horowitz (a16z) participating in the proposal by deploying all 15 million units of its UNI tokens.

Despite holding less than 2% of cumulative voting power, the venture capital's involvement sparks disputes surrounding centralized entities' role in decentralized finance.

Decrypt

With ChatGPT's popularity, the topic of AI in the crypto space is getting hotter than ever. Learn about AI tokens and the different projects in the space.