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• Prices: Bitcoin drifted lower in Tuesday trading, albeit not by much as crypto prices remain largely frozen near levels they’ve held for a week. • Insights: CoinDesk’s Chief Insights Columnist David Z. Morris zeroed in on the seriousness of crypto exchange giant FTX CEO Sam Bankman-Fried’s offenses, leading to the U.S. Department of Justice subsequently charging him with wire fraud and other alleged crimes. • Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders…

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• Decentralized-finance protocol Defrost Finance was hacked on Friday, with blockchain security firm PeckShield estimating that $12 million was taken. • The attack used a flash loan to drain funds out of the protocol’s V2 product, and a second larger attack used the owner key to exploit V1. • If the attack is a rug pull, it would be an unusual one, as the team behind the scheme usually goes silent and can’t be contacted. On Friday, decentralized-finance protocol Defrost…

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• According to a report by blockchain intelligence firm Crystal Blockchain, the total amount of cryptocurrency payments to ransomware hackers in 2021 was only $16 million, a stark contrast to the nearly $74 million USD in 2021. • Crystal’s director of blockchain intelligence believes that it is too early to conclude that ransomware attacks are in permanent decline. • Analysis of on-chain activity shows a decrease in popularity of crypto services with a high money laundering risk score, while those…

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• The Certified Financial Planner (CFP) Board issued a 14-page report outlining the risks associated with investing in cryptocurrency. • The report outlines standards for financial advisors to abide by when giving advice on cryptocurrency investment, including adhering to Fiduciary Duty and possessing competency in the topic. • The report does not require advisors to give advice on crypto, but it does provide guidance on how to do so if they choose to. The Certified Financial Planner (CFP) Board recently…

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• Paul Hastings LLP has been chosen to represent FTX creditors in the crypto exchange’s bankruptcy proceedings. • The court document filed on the same day shows the New York law firm, along with Delaware-based Young Conaway Stargatt & Taylor LLP, will be handling “all papers served or required to be served,” in the bankruptcy case on behalf of creditors. • At a meeting of FTX creditors held Tuesday, U.S. Trustee Juliet Sarkessian urged creditors looking to secure their representation…

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• The crypto market has been experiencing a period of stability as Bitcoin is locked in a narrow range amid macroeconomic uncertainty and FTX contagion fears. • Bitcoin’s realized volatility has hit a two-year low, indicating a period of calm before a sharp move. • Low realized volatility combined with an uptick in implied volatility is a sign of upcoming wild price fluctuations. The crypto market has recently been experiencing a period of stability, with Bitcoin locked in the narrow…

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• British Columbia has become the third Canadian province to impose restrictions on crypto mining, with a 18 month moratorium on new connections to the power grid. • The move is intended to preserve electricity for electric vehicles and heat pumps, and for businesses and industries that are undertaking electrification projects. • Currently, 21 projects are requesting a total of 1,403 megawatts (MW) in the province, equivalent to the energy needed to power approximately 570,000 homes, or 2.1 million electric…

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• Twitter has integrated cryptocurrency prices into its search results using a plug-in from charting platform TradingView. • This integration allows users to type crypto or stock tickers into the search bar to generate the current value and a price chart. • The social media giant has had several ties to the crypto industry over the past few years. Twitter, the popular social media platform, recently announced their integration of cryptocurrency prices into their search results using a plug-in from…

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