Justin Sun to Invest Up to $1 Billion in DCG’s Crypto Assets

• 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.

LG Smart TVs Unlock Metaverse Experiences with Oorbit Deal!

• 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.

Kevin O’Leary’s Twitter Account Hacked to Promote Crypto Giveaway Scam

• 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.

LUNC Set for Potential Upside in 2023: Short-Term Rally and Medium-Term Gains on the Cards

• 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 Provides $35M Loan to Argo Blockchain to Restructure Debt

• 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.

FOMO No More: Top Altcoins for 2023 with Strong Fundamentals

• 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.

Michael Lewis Visits Bankman-Fried in House Arrest; New Book on FTX in the Works?

• Michael Lewis, the author of The Big Short, spent several hours with Sam Bankman-Fried, the former CEO of the now-collapsed FTX crypto exchange, who is currently under house arrest in California.
• It has led to speculation that the famed author might be looking to write a book based on Sam Bankman-Fried and the collapse of his cryptocurrency firm FTX.
• Sam Bankman-Fried was arrested in The Bahamas earlier this month after US prosecutors formally filed criminal charges against him.

Michael Lewis, the renowned author of the bestseller The Big Short, has recently spent several hours with Sam Bankman-Fried, the former CEO of the now-collapsed FTX crypto exchange, who is currently under house arrest in California.

The visit has sparked speculation that the famed author might be looking to write a book based on Sam Bankman-Fried and the collapse of his cryptocurrency firm FTX. Lewis is renowned for his ability to document and narrate complex issues in a way that is accessible to a wide range of readers.

FTX, once the third-largest crypto exchange in the world, filed for bankruptcy on November 11. It was later revealed that the exchange, which had earned a reputation as crypto’s bail-out king during the recent crypto meltdown, was plagued with a $9.4 billion hole left by fund mismanagement.

Bankman-Fried was arrested in The Bahamas earlier this month after US prosecutors formally filed criminal charges against him. After an uncertain week, the crypto boss was eventually extradited to the US to face a litany of criminal charges.

The Southern District of New York, which is investigating Bankman-Fried and the collapse of FTX and its sister trading firm Alameda, indicted SBF on eight criminal charges including wire fraud and conspiracy by misusing customer funds. Separately, the Securities and Exchange Commission charged SBF with „orchestrating a scheme to defraud equity investors in FTX“.

The potential book by Lewis would be the latest in a series of high-profile accounts of the FTX story. Last month, the Wall Street Journal published an article on Bankman-Fried’s rise and fall. The Financial Times also published an article about Bankman-Fried’s legal woes.

The visit between Lewis and Bankman-Fried is notable for its timing. Bankman-Fried is still in the early stages of his legal battles and any revelations from a book by Lewis could have a major impact on the outcome of the case.

As a widely respected author, Lewis’s potential book on Bankman-Fried and the collapse of FTX would likely be met with great interest from both the crypto and traditional finance communities. It remains to be seen if Lewis actually decides to pursue the project and if the resulting book will be a success.

Explore the Possibility of a National Stablecoin: Republic of Palau and Ripple Labs Team Up

Bullet Points:
• Republic of Palau is exploring the prospect of developing a national stablecoin with Ripple Labs.
• XRP/USD is currently trading at $0.3560 with a small bearish bias.
• Investors can look to alternative coins with huge potential such as FightOut (FGHT).

The crypto market has been in a bit of a slowdown recently, with XRP struggling to break past the $0.3715 level. However, despite the market’s current bearishness, several governments are interested in joining the world of cryptocurrencies and are actively exploring the possibility of creating a national stablecoin.

One such government is the Republic of Palau. In September, the country’s President Surangel S. Whipps Jr. revealed to Bloomberg’s Joanna Ossinger that the country’s IT staff was collaborating with Ripple Labs to investigate the possibility of creating a national stablecoin. This news has put some bearish pressure on the XRP/USD pair, with the two trading at $0.3560 at the time of writing.

Looking at the technical indicators, the MCD and RSI are both trading in a bearish zone, signifying that the market is in a strong selling trend. This means that a break below the 0.3560 level may expose the XRP price to the next support level of 0.3445. However, a bullish breakout of the 0.3715 level could lead to a surge in the XRP price, potentially up to 0.3810.

In light of the current market conditions, investors may look towards alternative coins with huge potential. One such coin is FightOut (FGHT). The platform functions similarly to a personal trainer, offering users a variety of fitness guides and programs to help them live a healthier lifestyle. In addition, the platform is powered by a blockchain-based system that rewards users for completing tasks and challenges.

In conclusion, the Republic of Palau is actively working with Ripple Labs to explore the possibility of creating a national stablecoin. This news is putting bearish pressure on the XRP/USD, which is currently trading at $0.3560. Looking at the technical indicators, the MCD and RSI are both trading in a bearish zone, signifying that the market is in a strong selling trend. As such, investors may look to alternative coins like FightOut (FGHT) with huge potential.