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• Do Kwon, CEO of Terraform Labs, was arrested in Montenegro
• U.S. Securities and Exchange Commission had filed a lawsuit against Terra LUNA for engineering a $40 billion securities scam using LUNA and Terra’s algorithmic stablecoin TerraUSD (UST)
• Gary Gensler, the head of the SEC, said that Kwon did not provide investors with sufficient information on ‚crypto asset securities‘ LUNA and Terra USD.

Do Kwon Arrested in Montenegro

Law enforcement agencies all across the globe had been actively searching for Do Kwon, CEO of Terraform Labs. Finally, on Thursday in Podgorica, Montenegro, police apprehended Do Kwon. The Montenegrin police say they have captured a person they believe is Terraform Labs‘ CEO; they identify Kwon as one of the most wanted fugitives and a South Korean national.

U.S SEC Filed Lawsuit Against Creator of Terra LUNA

In September 2022, Do Kwon addressed rumors to the contrary by saying he was working closely with the appropriate authorities. Moreover, In February 2023, the U.S Securities and Exchange Commission (SEC) filed a lawsuit in U.S federal court in Manhattan accusing the creator of Terra LUNA of engineering a $40 billion securities scam using LUNA and Terra’s algorithmic stablecoin TerraUSD (UST).

Gary Gensler’s Statement

Gary Gensler, the head of the Securities and Exchange Commission stated that Do Kwon did not offer investors sufficient information on crypto asset securitiesLUNA and Terra USD.

Knock-on Effects from Network Failure

By mid-2022, due to failure on its network -the crypto market had suffered extensive losses resulting from knock-on effects from this failure which had been caused by Do Kwon’s company-Terraform Labs .

Conclusion

Do Kwen had been detained by Police in Podgorica airport after being identified as one of the most wanted fugitives following accusations from US Securites & Exchanges Commision (SEC) who accused him of engineering a $ 40 billions securites scam involving his cryptocurency -Luna & TeraUSD(UST).

Introduction

Google has recently announced the upcoming integration of its generative AI technologies across all its platforms, including Docs, Sheets, Meet, Mail and Slides. This AI writing tool is expected to be available in the US by the end of the month.

How AI Works In Google Workspace

The AI writing tool in Docs and Gmail will enable users to generate full emails and create images, videos, and audio for presentations in slides. The AI system will complete the writing within seconds and let users edit and refine it with more suggestions.

Google’s Commitment To Better Output

Following its tepid response to Bard’s introduction, Google has doubled its efforts to bring out better output with this new feature. It is designed to ensure enterprise-level safety, security, and privacy for developers building genapps.

Conclusion

Although AI is no replacement for ingenuity or creativity of real people, Google’s new AI integration could prove useful for many tasks such as email generation or summarizing text. The feature is expected to be available in English-language only for U.S users by the end of March 2023.

Takeaway

Google’s upcoming generative AI integration across its various platforms could make many tasks easier for users such as generating emails or summarizing text quickly with accuracy.

• Quant (QNT) is the native crypto token of the Quant Network, launched as an ERC-20 token in 2018.
• Quant Network is a distributed ledger technology (DLT) operating system that connects different private blockchains to public blockchains such as Ethereum, Polkadot and Polygon.
• According to our analysis, the Quant price prediction for 2023 is between $153.3 and $211.7, with a possibility of reaching up to $250 soon.

Overview of Quant (QNT)

Quant (QNT) is the native crypto token of the Quant Network. QNT was launched as an ERC-20 token in 2018. The Quant Network is an Ethereum-based distributed ledger technology (DLT) operating system (OS). It confers universal interoperability via its Overledger Network and multi-chain smart contracts. With Overledger Network acting as a blockchain-based API gateway, it facilitates the creation and execution of decentralized multi-chain apps (mDApps). The technology went live on Quant Network in September 2021. Furthermore, it connects different private blockchains to public blockchains such as Ethereum, Polkadot, and Polygon for security purposes and increased interoperability between several blockchains.

Current Market Status

The current price of QNT stands at $124.90 with 24 – hour trading volume at $25,410,361 while experiencing an increase of 3% within 24 hours from time of writing this article/posting.. The circulating supply stands at 14,544,190 tokens while its all – time high value recorded was on 11th September 2021 at around $427.42 per unit.

Uses Of QNT

Quant (QNT) has various primary use cases which include; acting as payment fee to access services on the platform; license fees by the network’s treasury system to credit its gateway operators; among others applications related to financial services or data sharing solutions involving multiple parties etc .

Price Prediction For 2023

In our analysis we observe that according to statistics , price patterns , RSI , RVOL and other information about QNT ,the bullish price prediction for 2023 could range between $153 .3 -$211 .7 with a possibility that it might reach $250 soon . However there are bearish predictions ranging between 79 .4$ too taking into consideration factors like market volatility & others .

Conclusion

In conclusion , based on our analysis & research performed regarding QNT’s current market status , uses & price predictions for 2023 we can predict that there exists decent potential for growth & success with respect to investing in QNT cryptocurrency tokens !

• Cathie Wood, the head of Ark Invest, has been buying Coinbase stocks for the past three days.
• Coinbase reported a revenue of $605 million in Q4 and the Federal Reserve’s preferred inflation gauge increased by 4.7%.
• Ark Invest purchased 150,192 shares of Coinbase stock this month and Cathie Wood is optimistic about their future prospects.

Cathie Wood Buys Coinbase Stocks

Investment management company Ark Invest, headed by Cathie Wood, has been on a buying spree with Coinbase stocks over the past three days. On February 24th when U.S Core PCE inflation came in higher than expected at 0.6%, prices for the cryptocurrency exchange dropped to $58 per share and Ark Invest bought 150,192 shares. This acquisition was spread across both ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW).

Coinbase Reports Strong Earnings

Coinbase announced overall revenue of $605 million in Q4 profits which surpassed market predictions of $588 million. In light of these earnings, Cathie Wood appears to be optimistic about her holdings in Coinbase stock recovering from its recent losses. The company also recently released its Basic Layer-2 blockchain which is likely another factor that has encouraged her faith in it as a long term investment opportunity.

Ark Invest Acquires Over 700K Shares

So far this month Ark Invest has purchased 722,942 shares of Coinbase (COIN). The highest stock buy occurred on February 22nd where 215,519 shares were acquired followed by 63,585 on February 23rd and ending with 150,192 on February 24th making up the total amount invested so far this month into the crypto exchange platform.

Positive Outlook On Crypto Exchange

Cathie Wood’s purchase of Coinbase stocks demonstrates her positive outlook on the cryptocurrency exchange despite current macroeconomic conditions such as inflation caused by global pandemic restrictions still being felt throughout multiple industries worldwide. Her faith that her holdings will eventually recover from their recent losses is likely based upon further developments such as new products or services offered through Coinbase or similar platforms within the industry as well as any potential increase in interest sparked due to an improving economic situation globally over time..

Conclusion

All things considered it appears that Cathie Woods’ faith in cryptocurrencies remains strong and she believes investing now will pay off later despite current circumstances impacting other markets negatively at present time . With more than 700k shares already purchased this month it looks like she will continue to back them financially speaking for some time to come yet!

• eBay-owned NFT marketplace KnownOrigin is launching creator smart contracts for its artists to share in profits and royalties.
• The Creator Contract beta has been used for a few weeks with 84 contracts deployed and 250 NFT editions minted.
• eBay purchased KnownOrigin in June 2022, allowing NFT listings on their direct marketplace since May 2021.

EBay’s KnownOrigin Introduces Creator Smart Contract

Ebay-owned non-fungible token (NFT) marketplace KnownOrigin is introducing creator smart contracts that allows the artists to share equally in profits and royalties. The new contract has been used for a few weeks, with 84 contracts deployed and 250 NFT editions already minted.

Background of KnownOrigin

KnownOrigin was founded in 2020 and has become well-known for its exclusive and supportive community of NFT developers and artists. Their collection includes “digitally glitched” artworks that have topped 1,523.78 Ether ($2.56 million). In June 2022, eBay purchased the platform without revealing the amount paid. This allowed them to offer NFT listings on their direct marketplace since May 2021, though they do not yet support cryptocurrency payments or transfers on the platform. Customers must instead use in-app chat or email to obtain their NFTs outside of the platform during an airdrop in May 2022.

Empowering Creators & Collectors

The goal of the Ethereum-based platform is to empower creators and collectors by giving them the ability to showcase, sell and collect unique, authenticated digital items according to co-founder David Moore. With this new smart contract feature, creators can deploy their work beginning February 24 without needing coding knowledge as it will be available on an automated basis once approved by KnownOrigin officials.

0% Marketplace Fee

In addition, KnownOrigin recently announced key changes such as 0% fee for both buyers and sellers on its marketplace plus improved access through wallets like MetaMask or Fortmatic which now allows users to buy crypto directly from within these apps when shopping at Knoworigin’s store with ease using credit/debit cards or Apple Pay without leaving the app window.

Popular Men’s Fashion Magazine GQ Launchs NFT Collection

Popular men’s fashion magazine GQ also launched their own Non Fungible Token (NFT) collection which consists of exclusive fashion pieces from famous designers such as Virgil Abloh, Joe Zee and others who have created special pieces that will only be available digitally via blockchain technology due to its immutable nature guaranteeing authenticity throughout time .

• Ault Alliance and Ecoark Holdings have signed a share exchange agreement for the acquisition of BitNile.com, Inc. by Ecoark for $100 Million in Preferred Stock.
• BitNile.com is launching the first metaverse super-app that runs entirely in the web browser with no pixel streaming.
• The Platform’s technology is powered by proprietary software from a third party that has the ability to scale, targeting markets such as online retail/ecommerce, collectibles, and global online gaming.

Ault Alliance & Ecoark Holdings Sign Share Exchange Agreement

Ault Alliance and Ecoark Holdings announced they have entered into a share exchange agreement (the „Agreement“) whereby, upon closing, Ecoark will acquire 100% of the outstanding equity of Ault Alliance’s subsidiary BitNile.com, Inc („BitNile.com“).

Launch of Metaverse Super-App

BitNile.com’s metaverse platform (the „Platform“) will launch on March 1st, 2023 and provide a bidirectional connection between digital and physical worlds. The Platform incentivizes users through a tiered rewards system supported by a revenue and reward model across any internet connected device using unique avatars and customized skins.

Projected Market Sizes

Statistica projects that revenue in the metaverse market will reach $55 billion in 2023 with 700 million people projected to be participating by 2030. The addressable marketplaces include estimated online retail/ecommerce market at $6.3 trillion per eMarketer, collectibles marketplace at $426 billion per Market Decipher, and global online gaming market estimated at $63 billion according to Grand View Research .

Proprietary Software Technology

The Platform’s technology is powered by proprietary software from a third party that has the ability to scale given their targeted markets including online retail/ecommerce, collectibles,and global online gaming markets . Examples of digital experiences available on this platform include slot machines , sports book , Texas Hold’em tournaments ,and various other games of chance using sweepstakes mod .

Conclusion

The Agreement provides for the acquisition of BitNile.com by Ecoark for $100 Million in Stated Value of Preferred Stock which will enable people to interact digitally with different forms of entertainment while engaging with a new social networking community across any internet connected device .

• Dexalot has launched the first hybrid DeFi Subnet on the Avalanche network.
• This Subnet utilizes both the host chain and exchange chain to optimize the platform for speed, safety, and experience.
• The Subnet will serve as a base for expanding to other host chains to further DeFi mass adoption.

The decentralized cryptocurrency exchange Dexalot has made a major breakthrough in the development of decentralized trading protocols by launching the first hybrid DeFi Subnet on the Avalanche network. This Subnet is designed to provide users with an on-chain central limit order book (CLOB) with minimal transaction costs and support for several spot trading pairs, while also imitating the user experience of a CEX.

The Subnet utilizes both the host chain and exchange chain to optimize the platform for speed, safety, and experience. High-end cross-chain communication protocols are used during communication between the Mainnet and Subnet, which may lessen slippage in trade execution and allows DeFi customers to trade with confidence without giving up custody of their assets.

According to the Dexalot team, the unique Subnet design „establishes a base for expanding to other host chains to further DeFi mass adoption.“ Moreover, the Subnet will serve as a base for the development of several ecosystem interoperabilities on to other chain networks. This will enable Dexalot Subnet users to interact with multiple DeFi protocols, such as decentralized exchanges, lending protocols, and staking networks, in a secure and efficient manner.

The team has spent months developing and fine-tuning its application to ensure it meets the highest standards of security, privacy, and decentralization. The launch of the Dexalot Subnet on Avalanche is a major milestone for the DeFi industry, as it will provide users with a streamlined and secure trading experience.

Going forward, the Dexalot team is committed to improving the overall user experience, while also continuing to develop innovative new features to further DeFi mass adoption.

• The District Columbia Court of Appeals has expedited the oral argument for the ongoing lawsuit between Grayscale Investments and the SEC, setting March 7 as the date for both parties to present their arguments.
• Grayscale is a subsidiary of the Digital Currency Group and is facing liquidity strain from its exposure to the recently collapsed FTX Derivatives Exchange.
• Grayscale sued the SEC back in June last year after the financial markets regulator denied its application to convert its flagship Grayscale Bitcoin Trust (GBTC) to a full-fledged Bitcoin Exchange Traded Fund (ETF).

Grayscale Investments, a subsidiary of the Digital Currency Group, has been in a long-standing legal battle against the United States Securities and Exchange Commission (SEC) since June of last year. The lawsuit arose when the SEC denied a request from Grayscale to convert its flagship product Grayscale Bitcoin Trust (GBTC) to a full-fledged Bitcoin Exchange Traded Fund (ETF). Despite the SEC’s denial, Grayscale continues to pursue this legal action and the District Columbia Court of Appeals has now expedited the oral argument for the case, setting March 7 as the date for both parties to present their arguments.

The lawsuit has been made increasingly complicated in light of the recent collapse of the FTX Derivatives Exchange. Grayscale has a broad exposure to FTX and this has caused liquidity strain for the company. Despite the legal battle with the SEC, Grayscale continues to be one of the most prominent subsidiaries of the Digital Currency Group (DCG) and its founder, Barry Silbert.

Grayscale’s lawsuit against the SEC is based on the claim that the SEC’s decision to deny its request was unreasonable and arbitrary. In its complaint, Grayscale claims that the SEC „abused its discretion“ in denying the ETF application and that the decision was not based on a fair and rational explanation. As such, Grayscale is seeking a judgement that will set aside the SEC’s decision and allow its ETF application to be approved.

Grayscale’s case was originally scheduled to be heard at some point during the second quarter of this year but the District Columbia Court of Appeals has fast-tracked the hearing. On March 7, both parties will present their oral arguments and the court will decide whether or not to overturn the SEC’s decision.

The outcome of this case could have major implications for the cryptocurrency industry as a whole. If Grayscale is successful in its lawsuit it could pave the way for other crypto-related companies to launch ETFs in the United States. Conversely, a ruling in favor of the SEC could set back the industry and make it much more difficult for crypto-related companies to launch ETFs in the future.

Regardless of the outcome, the District Columbia Court of Appeals‘ expedited hearing of the case is a major development that could have long-term implications for the cryptocurrency industry. It will be interesting to see how the court rules and what the implications of its decision will be.

• Bank of America released its Q4 earnings report with figures showing the company benefited from the Federal Reserve’s interest rate hikes.
• The company reported a net income of $3.6 billion for the fourth quarter while client balances stayed flat at $1.6 trillion.
• Revenue came in at $24.66 billion, with earnings of 85 cents, and Net Interest Income of $14.7 billion.

Bank of America Corp (NYSE: BAC) released its performance report for the fourth quarter of 2022, providing investors and analysts with a better-than-expected glimpse into the company’s financials. The report showed that the multinational investment bank and financial services holding company had benefited greatly from the Federal Reserve’s interest rate hikes.

The company’s net income came in at $3.6 billion for the fourth quarter, with client balances staying flat at $1.6 trillion. Revenue came in at $24.66 billion, higher than the $24.33 billion that was expected by analysts polled by Refinitiv. Earnings came in at 85 cents, more than the 77 cents that were projected by Refinitiv. However, the company’s Net Interest Income of $14.7 billion fell slightly short of the $14.8 billion estimate given by StreetAccount.

The release of the earnings report is an important milestone for the financial market ecosystem as the fourth quarter earnings season kicks off. The impressive net interest income was fueled by the higher interest rate hikes, and this helped to bolster the company’s bottom line.

The company also saw gains in its total deposits, which came in at $1.6 trillion, up from $1.5 trillion in the prior quarter. The Bank of America also reported that its noninterest expenses in the fourth quarter decreased by 10%, representing a $1.9 billion reduction from the prior quarter.

Overall, the Bank of America’s fourth quarter performance report showed improved figures and offered a much-needed boost to the financial market. The report showed that the company had benefited from the Federal Reserve’s interest rate hikes and had seen gains in total deposits and a decrease in noninterest expenses. The Bank of America’s report was a positive indicator of the company’s financial health and a good sign for the broader financial market.

-FTX has been cleared by bankruptcy judge John Dorsey to sell four of its key units in order to raise funds to repay creditors.
-Interested buyers may officially begin to indicate their interests between January 18 and February 1.
-Court documents show more than 117 buyers already have an interest in the sell-offs.

On Thursday, bankruptcy judge John Dorsey handed down a ruling that will allow FTX exchange to sell four of its key units to raise much-needed funds for its creditors. The units up for sale include FTX Europe, FTX Japan, derivatives arm LedgerX, and stock-clearing platform Embed. The sell-off will be overseen by Perella Weinberg, an investment bank.

The court order mandates that sales notices be made available to the public within three working days. For interested buyers, they may officially begin to indicate their interest in the sell-off between January 18 and February 1. The response to this has been overwhelming, as court documents show that more than 117 buyers already have an interest in the sell-offs.

The news of the sell-off has been welcomed by creditors, who now have a chance to recoup their investments. FTX’s filing for bankruptcy in November had left many creditors in the dark over the future of their investments. Now, with the sale of the units, they have a chance to get back some of their money.

The sale of the units also presents an opportunity for potential buyers who are looking to invest in crypto assets. FTX’s units are some of the most sought-after assets in the crypto space and the fact that they are now up for sale is a great chance for buyers to get in on the action.

It remains to be seen how the sale of the units will turn out, but it’s clear that FTX’s creditors are hoping for the best. With more than a hundred buyers already expressing their interest in the sell-off, the future of FTX’s units looks bright.