Nadine Chakar Joins Securrency as CEO, Bringing Institutional-Grade Compliance

• Securrency, an institutional cryptocurrency infrastructure firm, has hired State Street’s head of digital, Nadine Chakar, as its new CEO.
• She replaces Securrency’s founder Dan Doney, who will continue to serve as the company’s chief technology officer (CTO).
• Chakar’s appointment will provide knowhow of institutional-grade compliance to bring to Securrency’s products and services in tokenization, decentralized finance (DeFi) and interoperability.

Securrency, an institutional cryptocurrency infrastructure firm, has announced the appointment of State Street’s head of digital, Nadine Chakar, as its new CEO. Chakar, who spent just under a year and a half as State Street’s digital chief, will be taking over the role from Securrency’s founder Dan Doney, who will continue to serve as the company’s chief technology officer (CTO).

The appointment of Chakar is expected to provide the company with the necessary knowhow of institutional-grade compliance to bring to its products and services in tokenization, decentralized finance (DeFi) and interoperability. In a statement, the company noted that Chakar’s expertise in the world of finance and digital assets will be an asset to Securrency and its mission of providing institutions with blockchain-based regulatory technology on top of existing legacy systems to enable digital asset adoption in a compliant manner.

Chakar joined State Street in 2018 and served as the company’s head of global markets prior to her role as the head of digital. She has also been a part of Securrency’s board since 2021 when State Street was part of a $30 million funding round for the company. Other investors in the round included U.S. Bank, Abu Dhabi, Catalyst Partners and WisdomTree Investments.

Securrency’s mission is to provide a secure, compliant, and transparent digital asset infrastructure for the institutional market. With Chakar on board, the company is confident that it will be able to deliver on its promise and provide financial institutions with the tools and services necessary to make the transition to digital assets easier.

Chakar’s appointment is seen as a major step forward for the company, and it’s expected that her experience in the world of finance and digital assets will help Securrency in its mission to provide institutions with the necessary infrastructure to support digital asset adoption. With Chakar on board, Securrency is well on its way to becoming a leader in the field of institutional cryptocurrency infrastructure.

Coinbase Stock Downgraded Amid Trading Volume Decline

Bulletpoints:
• Investment firm Cowen downgraded Coinbase (COIN) stock to market perform from outperform, citing declines in trading volumes.
• The downgrade was attributed to the lack of clarity on a possible recovery in trading volumes following the collapse of FTX.
• Cowen also cut its price target on the shares to $36 from $75.

Coinbase, the cryptocurrency exchange, has seen its stock downgraded by investment firm Cowen, who cited a decline in trading volumes as the main reason for the downgrade. The downgrade was attributed to the lack of clarity on a possible recovery in trading volumes following the collapse of FTX, a rival exchange, in 2022.

The firm cut its price target on the shares from $75 to $36 and downgraded the stock to market perform from outperform. The stock was down 1.5% to $37.14 in premarket trading, having fallen 84% in the past year.

Analysts Stephen Glagola and George Kuhle wrote that Coinbase’s business is “significantly correlated to crypto asset prices, trading volumes and volatility”. The monthly trading volumes have been in decline since November 2021 and there is “low visibility” into a possible recovery in retail trading volumes in 2023 due to the macro backdrop and contagion risks on crypto asset prices.

The fallout from the collapse of FTX is likely to lead to stern scrutiny from the SEC, while depressed crypto valuations could cause muted retail trading activity. This has caused Cowen to be cautious in their outlook and downgrade the stock.

The cryptocurrency sector is still relatively new, so it is difficult to predict what will happen in terms of trading volumes. It remains to be seen whether Coinbase can recover from this latest setback and regain its position as one of the leading crypto exchanges.

Ether-Bitcoin Ratio Breaks Out of Triangle, Rally Ahead?

Bullet Points:
• The ether-bitcoin ratio has broken out of a multi-month triangle pattern, indicating a bull victory.
• The breakout has opened the doors for a rally toward the early December high of 0.07636 and early November highs of nearly 0.078.
• Decentral Park Capital’s Lewis Harland has said that we could see a “bears in disbelief rally” in ether in the coming weeks.

The ether-bitcoin ratio has been in a prolonged tug-of-war between bulls and bears, but recent developments may indicate that the bulls are finally winning. Lewis Harland, a portfolio manager at Decentral Park Capital, pointed out that the ratio has recently broken out of a multi-month triangle pattern, often called a wedge, indicating a bull victory.

The triangle pattern has been identified by trendlines connecting highs registered in September, October and December and lows hit in October, November and December. Triangles occur when both bulls and bears are unwilling or unable to lead the price action, leading to volatility compression. Hence, an eventual breakout or breakdown often brings a big bullish or bearish move.

In this case, the ETH/BTC ratio has blasted through the upper end of the triangle, indicating a bullish move. This breakout has opened the doors for a rally toward the early December high of 0.07636 and early November highs of nearly 0.078.

Harland said that we could see a “bears in disbelief rally” in ether in coming weeks. If the rally materializes, it could push the ETH/BTC ratio to a two-month high. The bullish momentum could further accelerate if the ratio ends up closing above the January high of 0.074.

Overall, the bullish break of the triangle pattern suggests the path of least resistance for ETH/BTC is on the higher side. However, traders should remain cautious, as a bearish reversal from the two-month highs could be seen if the bulls fail to sustain the higher ground.

Ether-Bitcoin Ratio Could Rally to Two-Month Highs

• The ether-bitcoin (ETH/BTC) ratio could rally toward a two-month high, according to Lewis Harland, a portfolio manager at Decentral Park Capital.
• The ratio has broken out of a multi-month triangle pattern, often called a wedge, indicating a bull victory in the prolonged tug-of-war with bears.
• This breakout suggests the path of least resistance for ETH/BTC is on the higher side, potentially leading to a rally toward the early December high of 0.07636 and early November highs of nearly 0.078.

The ether-bitcoin (ETH/BTC) ratio is on the rise after a long period of volatility. According to Lewis Harland, a portfolio manager at Decentral Park Capital, the ratio could rally toward a two-month high. This increase is due to a triangle pattern breakout, often referred to as a wedge, indicating a victory of the bulls over the bears in the prolonged tug-of-war.

The wedge pattern was formed when both the bulls and the bears were unable to lead the price action, leading to volatility compression. This resulted in the triangle pattern, which was created by connecting the highs registered in September, October and December and the lows hit in October, November and December. After the eventual breakout, a bullish movement was seen, resulting in the surge of the ETH/BTC ratio. This breakout suggests the path of least resistance for ETH/BTC is on the higher side, potentially leading to a rally toward the early December high of 0.07636 and early November highs of nearly 0.078.

Should this breakout prove to be successful, it could mean a bears in disbelief rally for ether in the coming weeks. This bullish outlook is supported by several key indicators, such as the increasing trading volumes and rising open interest on the Ethereum futures markets. Similarly, the ETH/BTC ratio could also be influenced by the fundamental developments around the Ethereum network, such as the transition to Ethereum 2.0.

The Ethereum 2.0 upgrade is expected to bring a new era of scalability, high performance and security to the Ethereum network. The upgrade is aimed at solving the scalability issues that have held back the growth of the Ethereum blockchain. This would lead to faster and more cost-efficient transactions on the blockchain, as well as improved security.

It remains to be seen whether the ETH/BTC ratio will reach the early December high of 0.07636 and early November highs of nearly 0.078, as suggested by Lewis Harland. However, it is clear that the breakout of the triangle pattern has opened the doors for a bullish rally in the ether-bitcoin ratio. As such, investors should keep an eye on the developments around the Ethereum network and the ETH/BTC ratio, as any positive news could result in a surge in the ratio.

Unlock Engaging Learning with Multimedia in the Classroom

• This article discusses the use of multimedia as a teaching tool in classrooms.
• It looks at how multimedia can improve student engagement, as well as the various types of multimedia tools available.
• It also examines the potential drawbacks of using multimedia in the classroom.

The use of multimedia in classrooms has been gaining traction in recent years, with studies showing that it can be an effective teaching tool. Multimedia has the potential to engage students in ways that traditional teaching methods cannot. It can be used to provide visual or audio components to a lesson, as well as create interactive experiences.

Multimedia can take many forms in the classroom. Video can be used to illustrate a concept or provide a visual demonstration. Audio recordings can be used to supplement a lecture or provide a more engaging presentation. Online tools can be used to create interactive activities and games, allowing students to explore a topic in greater depth. Finally, virtual reality and augmented reality can be used to create immersive learning experiences.

While the use of multimedia in the classroom has many potential benefits, there are some drawbacks to consider. First, there is the cost of acquiring the necessary equipment and software. Additionally, there is the issue of students becoming distracted by the multimedia content. Finally, there is the potential for multimedia to be used as a substitute for more traditional teaching methods, such as lectures and discussions.

In conclusion, multimedia can be a powerful teaching tool in the classroom, but it is important to consider both the potential benefits and drawbacks when deciding how to best integrate it into a lesson.

The integration of multimedia into the classroom has been gaining popularity in recent years as it has been proven to be an effective teaching tool. Multimedia can provide visuals, audio recordings, and interactive activities to supplement lectures and discussions, and can be used to engage students in ways that traditional teaching methods cannot. There are many types of multimedia tools available to teachers, including videos, audio recordings, online tools, virtual reality, and augmented reality. However, there are potential drawbacks to consider, such as the cost of acquiring the necessary equipment and software, the potential for students to become distracted, and the risk of multimedia being used as a substitute for more traditional teaching methods. Ultimately, it is important to consider both the potential benefits and drawbacks of using multimedia in the classroom in order to best integrate it into a lesson.

SEC and Law Enforcement Ramp Up Crypto Oversight for 2021

• US law enforcement officials arrested two individuals in connection with the 2016 Bitfinex hacked funds.
• CoinDesk’s Policy Team is looking out for this upcoming year, as crypto’s growing stature in the world will draw increasing amounts of attention from regulators.
• Next year may see more bankruptcy cases, questions around user privacy and consumer protections, and the US Securities and Exchange Commission (SEC) gearing up to take an even more active role in the space.

Cryptocurrency and government have become increasingly intertwined in 2021, with US law enforcement officials arresting two individuals in connection with the 2016 Bitfinex hacked funds. As the world of crypto continues to grow, regulators will be paying closer attention, and CoinDesk’s Policy Team is looking out for this upcoming year.

The current bull market may be coming to an end and a new “crypto winter” may be on its way, but the sheer scale of this year’s failures has caught many off guard. Moving forward, the industry will be faced with dealing with a lot of questions concerning user privacy and consumer protections. These questions rose with companies like Celsius and FTX, where judges initially allowed the companies to file their creditors’ information under seal, but Celsius later released the names and holdings of all of its customers, while FTX is currently going through hearings about the same issue.

The US Securities and Exchange Commission (SEC) may also be gearing up to take an even more active role in the space. The SEC has already taken a number of enforcement actions against companies and individuals in the space this year, and the Commission is expected to continue to do so in the coming year. In addition, the SEC has been vocal about its intention to update existing regulations to better reflect the changing landscape of the crypto industry.

As the world of crypto continues to grow and evolve, regulators will continue to keep a close eye on developments. With the SEC and other enforcement authorities expected to take an even more active role in the space, 2021 may prove to be an interesting year for the industry. CoinDesk’s Policy Team will be closely monitoring developments and keeping readers informed about the latest news.

Crypto Exchange FTX Collapse: SBF Indicted, Industry Divided

• FTX, a crypto exchange founded by Sam Bankman-Fried in Nov 2020, has recently gone bankrupt, leading to its customers and investors losing billions of dollars.
• Bankman-Fried has since been indicted in the S.D.N.Y. for a variety of crimes such as wire fraud, conspiracy and money-laundering.
• The events surrounding the collapse of FTX have only further highlighted the current disagreements between stakeholders regarding the regulation of cryptocurrency.

The saga of FTX and its founder Sam Bankman-Fried has been one of the most talked-about topics in the world of cryptocurrency over the past year. Bankman-Fried, or “SBF” as he has become known, was until recently, one of the most prominent faces in the crypto world – having the ear of public officials, regulators and celebrities alike.

Unfortunately, his success was short-lived, as a November 2022 article in Coindesk reported that the bulk of the holdings of Alameda Research, SBF’s trading firm, were in FTX’s token. This sent shockwaves through the crypto industry, leading to a run on the bank and SBF’s eventual resignation, with FTX and related entities entering bankruptcy and its customers and investors losing billions of dollars.

Subsequently, SBF was indicted in the Southern District of New York (S.D.N.Y.) for a variety of crimes, including wire fraud, conspiracy and money-laundering, stemming from his alleged use of assets belonging to FTX’s customers to plug a shortfall in Alameda and his alleged lies to investors.

The fallout from the collapse of FTX has not only highlighted the issues faced by the crypto industry, but has also reinforced the disagreements between stakeholders regarding the regulation of cryptocurrency. Many in the industry have long argued that the lack of clear regulation has been a major obstacle to the growth of the sector, while others have maintained that any kind of regulation would stifle innovation.

The events surrounding the collapse of FTX and the subsequent indictment of its founder have only served to further entrench the divisions between these two camps. The case will undoubtedly be closely monitored in the coming months, as it could have far-reaching implications for the regulation of cryptocurrency.

Furthermore, the case has highlighted the importance of due diligence and risk management when investing in cryptocurrency, as well as the need for credible and trusted crypto exchanges. As the industry continues to grow, it is clear that the issues surrounding the regulation of crypto will need to be addressed if the sector is to reach its full potential.

Kraken Exits Japan, Argo Blockchain Avoids Bankruptcy, Bankman-Fried Borrows Millions

• Cryptocurrency exchange Kraken will be exiting Japan and deregistering from the Financial Services Agency as of January 31st.
• Bitcoin miner Argo Blockchain has avoided filing for bankruptcy protection after agreeing to sell its Helios mining facility to Galaxy Digital for $65 million.
• Former FTX CEO Sam Bankman-Fried borrowed hundreds of millions of dollars from Alameda Research to purchase his stake in trading app Robinhood Markets.

Cryptocurrency exchange Kraken has announced that it will be exiting Japan and deregistering from the Financial Services Agency as of January 31st. The decision was prompted by “current market conditions in Japan in combination with a weak crypto market globally,” the company said in a blog post. Kraken users in the country have until the end of next month to withdraw their fiat and crypto holdings, with the option of transferring crypto to another wallet or wiring Japanese yen to a local bank.

Meanwhile, Bitcoin miner Argo Blockchain has avoided filing for bankruptcy protection after it agreed to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital for $65 million. The miner will also get a new $35 million loan from financier Mike Novogratz’s crypto-focused financial-services firm, which will be secured by Argo’s mining equipment. This transaction will help Argo bolster its balance sheet and avoid bankruptcy after it found itself in a precarious situation when a deal for $27 million in funding fell through in October.

Finally, former FTX CEO Sam Bankman-Fried has revealed that he borrowed hundreds of millions of dollars from Alameda Research, the trading firm he owned, to purchase his stake in trading app Robinhood Markets. In an affidavit provided to a Caribbean court before his arrest, Bankman-Fried said he and FTX co-founder Gary Wang had used a total of $250 million in leveraged loans from Alameda Research to purchase the shares. This loan was secured by Bankman-Fried’s equity in FTX and Alameda Research and was to be repaid with the proceeds of any sale of the Robinhood shares.

Kraken Exits Japan, Will Deregister from Financial Services Agency

• Kraken, a cryptocurrency exchange, has announced it will exit Japan and deregister from the Financial Services Agency as of Jan. 31.
• Kraken users in Japan have until the end of next month to withdraw their fiat and crypto holdings.
• The decision is prompted by market conditions in Japan in combination with a weak crypto market globally.

Kraken, a cryptocurrency exchange, has announced its plans to exit Japan and deregister from the Financial Services Agency as of Jan. 31. The move is due to the current market conditions in Japan in combination with a weak crypto market globally.

Kraken users in Japan have until the end of next month to withdraw their fiat and crypto holdings. They have the option of transferring crypto to another wallet or wiring Japanese yen to a local bank.

The decision to exit the Japanese market comes after a series of changes within Kraken. In September, co-founder Jesse Powell departed from his role as CEO and was replaced by Chief Operating Officer Dave Ripley. In November, the company cut 30% of its global workforce in response to the crypto market’s stagnation following the collapse of rival exchange FTX.

Kraken plans to prioritize resources and investments to ensure the long-term stability of the exchange. By exiting the Japanese market, the company hopes to focus on building a strong foundation for its operations as the crypto market begins to recover.

Crypto Market Remains Stable Despite FTX CEO’s Arrest

• 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 and analysis.

Tuesday’s crypto market saw yet another day of relative stability as Bitcoin prices stagnated near their current levels. BTC was recently trading at $16,700, off 1.3% over the past 24 hours, as investors continued their year-end hibernation.

Crypto prices remain frozen near the levels they’ve held for much of the past two weeks. This has been an unprecedented level of stability for the notoriously volatile asset class. It is largely in part to the recent news of a major crypto exchange’s CEO being charged with wire fraud and other alleged crimes.

On November 2020, CoinDesk’s Chief Insights Columnist David Z. Morris wrote a story that led to the implosion of crypto exchange giant FTX. The story zeroed in on the seriousness of CEO Sam Bankman-Fried’s offenses, which prompted U.S. Department of Justice to subsequently charge him with wire fraud and other alleged crimes. After posting bail, Bankman-Fried is confined to his parents California home except to exercise, and must wear a tracking device.

To keep up with the latest news and insights for the crypto market, CoinDesk offers its viewers and readers the chance to watch CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Additionally, CoinDesk also provides its daily newsletter “First Mover” which offers readers with the latest moves in crypto markets in context.

Despite the recent news, Bitcoin remains resilient over the past two months, despite the winter storms plaguing the U.S. and the coronavirus pandemic still raging in many countries. This level of stability could prove to be a promising sign for crypto investors in the upcoming year.