• Billionaire Mike Novogratz expressed his support for the major crypto exchange Binance and its CEO Changpeng Zhao (CZ)
• He believes that the industry and its participants need Binance and its loyal retail following
• Novogratz noted that Binance has a large percentage of liquidity and CZ has always focused on customer service, so he wants them to succeed

Billionaire Mike Novogratz recently expressed his support for the major crypto exchange Binance and its CEO Changpeng Zhao (CZ). This comes after the US Department of Justice announced charges against a crypto company earlier this month, which had the cryptoverse speculating which exchange it could have been.

Speaking to Real Vision Crypto, Novogratz said: “And I was like, please don’t have it be Binance. We need to cheer for Binance.” It turned out to be a little-known Hong Kong-registered exchange called Bitzlato. Its Russian founder Anatoly Legkodymov was arrested by US authorities for allegedly processing $700 million in illicit funds.

Binance, however, had had some involvement in the case, with the US Department of the Treasury writing in an order that the world’s largest crypto exchange by trading volume was Bitzlato’s top receiving counterparty of bitcoin (BTC) between May 2018 and September 2022. Binance said that it „provided substantial assistance to international law enforcement partners in support of this investigation.“

Novogratz went on to note that Binance has a „giant percentage of the liquidity“ and that CZ has always been focused on customer service. Therefore, said Novogratz,“He’s got a very loyal, giant retail following that believe[s] in our ecosystem. We need those guys.“

Novogratz noted that he sees numerous people online who seem to want Binance and CZ to fail, but „it’s the wrong thinking,“ he said, adding:“We need CZ to succeed.“ He believes that the industry and its participants need Binance and its loyal retail following.

The crypto mogul’s endorsement of Binance and CZ is not surprising given the recent success of the exchange. Since its launch in 2017, Binance has become one of the most popular exchanges in the world. It is currently the largest crypto exchange by trading volume, and its Binance Coin (BNB) token has surged to become one of the top cryptocurrencies in terms of market capitalization.

At the same time, Binance has been actively expanding its services and offerings. It launched its first fiat-to-crypto exchange in Uganda in 2018 and has since opened up similar services in several other countries. It also launched its own decentralized exchange (DEX) earlier this year.

It’s clear that Novogratz’s endorsement of Binance and CZ is well-deserved, and it highlights the importance of the exchange and its CEO in the crypto industry. Binance has become an integral part of the crypto ecosystem and its success will be crucial in helping the industry grow and become more mainstream.

• The International Monetary Fund (IMF) has issued a five-point plan to regulate the cryptosphere and provide a framework for exchanges and investors to work within.
• This includes licensing, registering, and authorizing crypto asset service providers, overseeing entities that carry out multiple functions, subjecting stablecoin issuers to prudential requirements, and establishing clear requirements for financial institutions dealing in cryptocurrencies.
• Lastly, a robust global crypto regulation and supervision framework is needed to adequately address the digital coins‘ borderless nature.

The International Monetary Fund (IMF) has recently released a five-point plan to help regulate the cryptosphere, providing a framework for exchanges and investors to follow. The plan seeks to ensure that crypto asset service providers, such as those providing storage, transfer, exchange, settlement, and custody services, are licensed, registered, and authorized. The IMF also wants to ensure that any conflicts of interest are assessed by the responsible authority and prohibited if necessary. Transparent operations should be carried out to enable all dependencies and operations to be easily identified.

In addition, the IMF wants to ensure that stablecoin issuers are subject to strict prudential requirements as they are becoming a store of value for a greater number of investors. Without proper oversight and regulation, such holdings could destabilize monetary and financial stability, prompting the need for regulations on the scale of those employed in the banking sector.

Moreover, the IMF wants to ensure that established financial institutions dealing in cryptocurrencies are subject to clear requirements regarding the risks that arise from transacting in crypto. This is necessary to protect investors from potential fraud and other risks.

Lastly, the IMF recognizes the need for a robust, global crypto regulation and supervision framework as the digital coins’ borderless nature has highlighted the ineffectiveness of national authorities to adequately deal with them. A unified approach is necessary to address the issues in the cryptosphere, such as money laundering, terrorist financing, and other illicit activities.

The IMF’s five-point plan provides a blueprint for exchanges and investors to work within and helps ensure the stability of the cryptosphere. It is a step in the right direction towards the regulation of digital coins and provides a way for authorities to keep an eye on the ever-evolving industry.

• Justin Sun, founder of the TRON Foundation, expressed interest to spend up to $1 billion to buy assets of embattled cryptocurrency lender Genesis‘ parent firm, Digital Currency Group (DCG).
• DCG’s venture portfolio includes more than 160 crypto companies, of which it has acquired 28, including CoinDesk, Grayscale, and Genesis.
• Sun had previously said he was prepared to provide distressed cryptocurrency exchange FTX with billions in aid before the exchange filed for bankruptcy in mid-November.

Justin Sun, the founder of the TRON Foundation and advisor to the crypto exchange Huobi, has expressed interest in purchasing assets from Digital Currency Group (DCG) – the parent firm of embattled cryptocurrency lender Genesis. Sun has offered to spend up to $1 billion of his own money to buy a portion of DCG’s assets, depending on their evaluation of the situation.

DCG’s venture portfolio includes more than 160 crypto companies, of which it has acquired 28. These companies include CoinDesk, Grayscale, and Genesis, as well as U.S. crypto exchanges Coinbase and Kraken. The portfolio also includes Circle, which runs the stablecoin USDC.

The move follows the news that Genesis owes over $3 billion to creditors, forcing DCG to consider selling some assets in its large venture portfolio to raise money. Sun is one of the richest figures in the crypto sphere, but his net worth is unknown.

This isn’t the first time Justin Sun has offered to help a distressed company. Prior to the bankruptcy of FTX, Sun had previously said he was prepared to provide the exchange with billions in aid. However, the deal eventually did not take place. Following FTX’s collapse, Genesis announced that it is temporarily suspending redemptions and new loan originations.

With Sun’s interest to invest in DCG’s assets, it remains to be seen how the situation plays out. If the deal does go through, it could provide much-needed assistance to Genesis and the wider crypto community.

• South Korean tech titan LG Electronics is intensifying its metaverse activities with a new deal allowing LG smart TV owners to access virtual worlds.
• The deal with Oorbit will allow users to attend virtual concerts, play AI-powered multiplayer games, and buy and sell non-fungible tokens (NFTs).
• LG’s telecoms arm, LG U+, has also signed a deal with Megazone and Gala Lab to co-build a metaverse service tailored for university students.

LG Electronics, the South Korean tech titan, has announced plans to step up its metaverse activities by introducing a new deal that will bring Web3 and metaverse experiences to owners of its smart TVs. Through the deal with Oorbit, LG smart TV users can attend virtual concerts on the music and games platform ELYNXIR, as well as play AI-powered multiplayer games on the Auxworld platform. Furthermore, it will allow Blade Wallet users to buy and sell non-fungible tokens (NFTs) on LG smart TVs, using the LG Art Lab service.

This isn’t LG’s first foray into the metaverse. The firm has previously rolled out NFT trading functions on its smart TVs for users of its own crypto wallet, Wallypto. Also, at the 2023 Consumer Electronics Show in Las Vegas, LG showcased “monster”-themed virtual sports shoes created using NFT technology, designed to be worn in metaverse spaces.

LG isn’t the only South Korean company to move into the metaverse. Late last year, LG U+, the company’s telecoms arm, signed a deal with the cloud provider Megazone and the gaming operator Gala Lab. The firms agreed to co-build a metaverse service tailored to university students, with a view to launching it early next year. SKT, one of LG U+’s biggest telecoms rivals, is already offering similar metaverse-based services.

As the metaverse continues to grow in popularity, LG’s move to offer virtual experiences through its smart TVs is an exciting development. Through the deal with Oorbit, LG smart TV owners will be able to access a range of virtual experiences that were previously inaccessible. This could open the door for a more immersive and interactive way of consuming content, and could even pave the way for more interactive forms of gaming, art, and commerce.

• Shark Tank star Kevin O’Leary’s Twitter account was hacked on Thursday and used to promote a crypto giveaway scam.
• The now-deleted tweet promised 5,000 BTC and 15,000 ETH, and instructed users to first send their own digital assets to verify their wallet addresses.
• Crypto giveaway scams are one of the most prevalent forms of scams in the industry and often involve hacked accounts of famous people, politicians, celebrities, and companies.

On Thursday, Shark Tank star Kevin O’Leary’s Twitter account was hacked and used to promote a crypto giveaway scam. The now-deleted tweet promised 5,000 BTC and 15,000 ETH, and instructed users to first send their own digital assets to verify their wallet addresses. This is a common tactic used by scammers in order to steal digital assets and make away with the funds sent.

The scam was widely shared across O’Leary’s Twitter account, which is followed by more than 982,000 users. With an accompanying image featuring the famed investor himself, the tweet read: „Everyone who wants to get free crypto now has a chance here!“ However, it was soon discovered that this was a fraudulent scheme, as the O’Leary Twitter account falsely claimed that Mr. Wonderful had said on CNBC that he planned to give away some cryptocurrencies.

Crypto giveaway scams are one of the most prevalent forms of scams in the industry and often involve hacked accounts of famous people, politicians, celebrities, and companies. These individuals, who are leaders in companies such Tesla, MicroStrategy, and Binance, are commonly targeted. Scammers impersonate well-known figures like Elon Musk, Michael Saylor, and CZ in order to promote their fraudulent schemes using fake accounts.

Such scams can be incredibly damaging to those who fall victim to them, as they can be tricked into sending digital assets to a scammer who will not return them. As such, it is important to be aware of the potential dangers that exist when dealing with cryptocurrency, and to thoroughly vet any potential investments before sending any funds. Furthermore, it is important to be wary of crypto giveaways that promise large amounts of digital assets, as these are often too good to be true.

• The Terra Luna Classic (LUNC) token has been underperforming in the last 24 hours, with losses of about 5.5%.
• LUNC has recently failed to sustain a push above its 200-Day Moving Average, leading to a sharp pullback from its previous highs.
• With LUNC breaking out of its prior downtrend and technicals suggesting a potential rally in the short-term, the cryptocurrency may be poised for upside in 2023.

The Terra Luna Classic (LUNC) cryptocurrency has been on a rollercoaster ride in recent days, with the token nursing losses of around 5.5% in the last 24 hours. LUNC/USD was last changing hands in the mid-$0.00014s, down about 20% from its earlier weekly highs above $0.00018, but still up about 15% from monthly lows in the $0.000127 area.

The most recent downward movement for the cryptocurrency comes after it failed to sustain an attempted push to the north of its 200-Day Moving Average (DMA). This has seen the token dip below its 21 and 50DMAs as well, suggesting the near-term technical outlook might not look too great. But there may still be some reason to be optimistic, as the token has recently broken out of a downward trend that had previously been dominating price action since September.

This breakout from the downtrend could be a sign of things to come for LUNC in the near future, as it may now be in a position for a short-term rally back to its recent highs in the $0.00018-20 area. This is especially true if the cryptocurrency can find support from a downward trendline that it is currently testing, which may be enough to encourage the bulls to re-enter the market and start buying the dip.

In addition to this potential short-term rally, LUNC may also be poised for upside in the medium-term. Crypto bulls are hopeful for a broader crypto market rebound in early 2023, which could be enough to push the token back to its September highs in the $0.0006 area. Of course, whether or not this happens will depend on a variety of factors, including the performance of its competitors, regulatory developments, and the overall strength of the crypto market.

Overall, it looks like LUNC may be in for an interesting 2023, with the potential for both short-term and medium-term upside. Investors should keep an eye on the cryptocurrency and the broader market over the coming months to see how things develop.

• Galaxy Digital, Michael Novogratz’s crypto-focused financial services firm, will buy Argo’s Helios Bitcoin (BTC) mining facility and provide an additional $35 million loan to help with restructuring efforts.
• Galaxy will give Argo a new asset-backed loan in an aggregate principal amount of $35 million with an initial term of 36 months. This financing will be secured by a collateral package that includes mining machines currently operating at Helios, as well as some machines located at Argo’s Canadian data centers.
• Argo said it would use the cash proceeds from the sale of Helios, as well as a portion of the borrowings under the asset-backed loan, to repay existing debts, prepayment interest, and other fees of approximately $84 million owed to NYDIG ABL LLC and $1 million to North Mill Commercial Finance.

Galaxy Digital, the crypto-focused financial services firm owned by Michael Novogratz, has recently announced that it will purchase Argo Blockchain’s Helios Bitcoin (BTC) mining facility and provide a loan of $35 million to aid in its restructuring efforts. This move is part of an effort to prevent the firm from becoming bankrupt.

The loan will be an asset-backed loan with an aggregate principal amount of $35 million and an initial term of 36 months. It will be secured by a collateral package that includes mining machines operating at Helios, as well as some machines located at Argo’s Canadian data centers. This loan will allow Argo to focus on optimizing its operations with significantly lower capital and operating expense requirements.

The cash proceeds from the sale of Helios and the borrowings from the asset-backed loan will be used to repay existing debts and prepayment interest, as well as other fees of approximately $84 million owed to NYDIG ABL LLC and $1 million to North Mill Commercial Finance. Additionally, some $6 million will be returned to Argo from a collateral account controlled by NYDIG ABL LLC.

Galaxy Digital will host Argo’s 23,619 Bitmain S19J Pro mining machines located at Helios for two years. The companies plan on working together to optimize mining operations and maximize profits.

The move is beneficial to Argo in several ways. It reduces the company’s debt by $41 million and provides it with a stronger balance sheet and enhanced liquidity to ensure the continued operations during the bear market. It also provides Argo with the opportunity to focus on optimizing its operations while reducing capital and operating expenses.

This move by Galaxy Digital shows their commitment to helping the crypto industry grow by providing financial support to struggling firms. The increased liquidity and reduced debt will give Argo the chance to focus on its business operations and become profitable again.

• The cryptocurrency market is not looking especially hot at the moment, and many investors in risk assets are sitting on the sidelines.
• FightOut (FGHT), an upcoming M2E app and gym chain, has raised more than $2.44 million in its presale and has the ability to integrate any kind of physical exercise.
• Other promising altcoins with potential for gains heading into the new year are ICP, D2T, BNB, and CCHG.

The holiday season was a disappointment for traders this year, as Bitcoin’s volatility index showed record lows on December 25, setting a subdued tone for the Christmas market. The absence of the Santa Claus rally that often accompanies the season was likely due to the fear, uncertainty, and doubt (FUD) surrounding centralized exchanges this year, in addition to investors who are waiting to see how interest rate hikes and an impending recession will affect markets in the coming months.

However, the potential for growth in the cryptocurrency market in 2023 is still very real. FightOut (FGHT) is one such example of an altcoin with tremendous potential. This upcoming M2E app and gym chain has seen escalating success, raising over $2.44 million during its private sale and presale. What sets FightOut apart from other M2E apps is its ability to integrate any kind of physical exercise, such as cardio or weightlifting, rather than just steps taken. Additionally, users won’t have to break the bank by buying expensive NFTs in order to use this app; rather, they are rewarded for healthy living.

Other altcoins with potential for gains in the coming year include ICP, D2T, BNB, and CCHG. ICP is a cryptocurrency that seeks to bring traditional video gaming to the blockchain. D2T is a blockchain-based platform for the creation and trading of digital assets, and BNB is a cryptocurrency created by Binance, one of the world’s leading crypto exchanges. CCHG is a blockchain-based platform for the creation and trading of digital assets as well as for providing liquidity and other services to the cryptocurrency market. All of these coins have strong fundamentals and promising technical analyses that make them attractive investments for the new year.

The cryptocurrency market may not be looking especially hot at the moment, but the potential for growth in the coming year is undeniable. With altcoins like FightOut, ICP, D2T, BNB, and CCHG, investors have the opportunity to capitalize on these coins’ strong fundamentals and promising technical analysis.