What happened on the crypto market while everyone was sleeping — January 3rd review

Bitcoin (BTC), according to the CoinMarketCap resource, started Tuesday with a sideways move. The minimum of bitcoin for 24 hours is $16,635, the maximum is $16,759.

The second largest cryptocurrency by capitalization, Ethereum, also started the day with a sideways move. As of the time of writing the review, the coin is trading at $1,215.

In the top 10 most capitalized cryptocurrencies, the best result for the day was recorded by XRP (+4.66%), for the week – by BNB (+1.03%). Within 24 hours, all coins, with the exception of Binance USD stablecoin, showed positive dynamics. The biggest losses for the week were recorded at Dogecoin (-4.68%).

In the top 100 most capitalized cryptocurrencies, the best result for a day was recorded by Lido DAO (+13.83%), for a week — by BitDAO (+34.08%). Over the past 24 hours, OKB has been losing in price more actively than others (-1.54%). The biggest losses for the week were recorded at Chain (-20.30%).

The main news of cryptocurrencies in the morning of January 3

The Turkish authorities plan to use blockchain technology to organize citizens’ access to online services. About this, with reference to the words of Turkish Vice President Fuat Oktaya, local media write.

In particular, the Turkish authorities plan to use blockchain for users’ access to the state portal E-Devlet. The technology will help regulators to organize a reliable system of identification of citizens. The decision was preceded by the successful completion of testing of the digital lira.

The UK is introducing tax incentives for foreign investors who buy cryptocurrency through local investment managers or brokers. The resolution became effective on January 1, 2023. Information about this appeared on the website of the local government.

Tax benefits were announced in December 2022. The move was part of British Prime Minister Rishi Sunak’s plan to turn the country into a crypto center. Thus, the local authorities plan to attract investors.

The co-founder of the Gemini crypto exchange, Cameron Winklevoss, demanded from the head of the Digital Currency Group (DCG), Barry Silbert, an explanation for the prolonged retention of client money in the accounts of the Genesis crypto broker controlled by him. The businessman expressed his claims in an open letter on January 2, 2023. The co-founder of the crypto exchange asked Silbert to find a solution to the problem by January 8, 2023.

In the letter, Winklevoss noted that almost 50 days have passed since the pause withdrawals of funds from Genesis. Recall that the stop occurred against the background of the collapse of the FTX crypto exchange in November 2022. Read more about the problems of DSG and its controlled companies in our material.

Against the background of Genesis problems, the Gemini team curtailed the withdrawal of cryptocurrencies from the Gemini Earn credit division. The fact is that the crypto broker controlled by Silbert acted as a business partner of the crypto exchange. Since then, Gemini has been looking for a way to return users’ money. It is known that the crypto broker owed the exchange $ 900 million. The open letter says that 340 thousand Gemini Earn users suffered due to the actions of Genesis.

Winklevoss suggested that DCG borrowed $1.675 billion from Genesis. Part of this money, according to the Gemini co-founder, belongs to Gemini Earn customers. Barry Silbert hastened to reply. According to him, DCG did not borrow the designated amount from Genesis.

On December 21, 2022, Gemini presented a plan to solve Genesis’ liquidity problems through the formation of a creditors’ committee. Silbert noted that the crypto broker’s team sent its offer to the crypto exchange on December 29. According to the head of DCG, there was no response to it. Silbert ignored Winklevoss’ message asking if he would give an answer by January 8, 2023.