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Summary of the Article

• Alex Appleton has resigned from his position as CFO and Executive Director at Argo Blockchain.
• Several other crypto (or related) executives have abandoned their posts during the prolonged bear market.
• Argo Blockchain recently agreed to sell its Helios facility to Mike Novogratz’s Galaxy Digital for $65 million.

Another Crypto Exec Leaves: Argo Blockchain’s CFO Resigns

Alex Appleton is the latest cryptocurrency executive who stepped down from his position. One of the leading bitcoin miners – Argo Blockchain – announced that its CFO and Executive Director Alex Appleton resigned from his position. Several other crypto (or related) executives have abandoned their posts during the prolonged bear market, such as Sam Bankman-Fried of FTX, Alex Mashinsky of Celsius Network, Jesse Powell of Kraken, Michael Saylor of MicroStrategy, and many others.

Resignation From Argo Blockchain

Argo announced that Alex Appleton has resigned from his positions as CFO and Executive Director to pursue other opportunities. Upon departing, Appleton said he was proud of his achievements at the firm. He added that the niche has “great potential” and wished his former colleagues “all the best” for the future.

Reducing Overall Debt with Sale

Appleton’s leaving comes shortly after Argo Blockchain agreed to sell its Helios facility to Mike Novogratz’s Galaxy Digital for $65 million and thus reduce its overall debt. The crypto winter continues to put pressure on various companies in this sector.

Conclusion

• Roger Ver, also known as “Bitcoin Jesus”, has been summoned to repay over $20 million in damages to Genesis for failing to settle certain cryptocurrency options transactions before the payment deadline.
• The investor has been given 20 days to answer the summons, after which he will be forced to pay reparations by default.
• The filing was submitted by a British Virgin Islands-domiciled affiliate of Genesis, which designated New York Country as the place of trial.

Cryptocurrency investor Roger Ver, also known as “Bitcoin Jesus”, is currently in legal trouble with Genesis, an embattled crypto firm. Ver has been summoned to repay over $20 million in damages to the firm after failing to settle certain cryptocurrency options transactions before the payment deadline.

The filing was submitted by a British Virgin Islands-domiciled affiliate of Genesis, which designated New York Country as the place of trial. The filing states that the options transactions in question expired on December 30, and upon failing to settle the payments, Ver was declared in default. The investor has been given 20 days to answer the summons, after which he will be forced to pay reparations by default.

The legal action is the latest in a series of insolvency dramas that have been occurring within the crypto world recently. With the advent of the cryptocurrency industry, the financial landscape has changed drastically, and many firms have been struggling to keep up with the new regulations and norms required to remain compliant.

The dispute between Genesis and Ver is a high-profile case, and one that many in the industry are watching closely. With the looming deadline for payments, the outcome of the case is sure to have an impact on the crypto world and the future of cryptocurrency regulation.

Only time will tell how the dispute between Genesis and Ver will play out. Ver has yet to respond to the summons, and the outcome of the case is still uncertain. Regardless of the outcome, this case highlights the need for increased regulation in the crypto world and serves as a reminder to investors to be wary of the risks associated with cryptocurrency investments.

• Ethereum Liquid Staking protocols have seen an increase in value since the start of 2021 as the Shanghai upgrade approaches.
• Liquid Staking is a novel staking protocol which allows users to stake their ETH and receive staking rewards without taking on the burden of self-staking.
• Liquid Staking protocols such as Lido, Rocket Pool, and Ankr offer users an easy way to get involved in the Ethereum network and earn rewards.

Ethereum is the world’s largest smart contract platform, and it has been steadily growing in popularity since its launch in 2015. The platform has seen tremendous success and growth over the years, and its developers have been working on a major upgrade known as The Merge since 2022. This upgrade saw the network abandon Proof of Work and transition to Proof of Stake in pursuit of fulfilling its broader roadmap towards scalability, decentralization, and security.

The Merge also brought a new concept to Ethereum, that of Liquid Staking. Liquid Staking is a novel staking protocol which allows users to stake their ETH and receive staking rewards without taking on the burden of self-staking. This new protocol has seen tremendous growth in the recent months, as the Shanghai upgrade inches closer.

Liquid Staking protocols such as Lido, Rocket Pool, and Ankr offer users an easy way to get involved in the Ethereum network and earn rewards. These protocols allow users to stake their ETH without having to worry about the technical aspects of staking, such as setting up a node or understanding the staking process. Instead, users can simply stake their ETH with one of the Liquid Staking protocols and receive staking rewards.

In addition to the ease of use, Liquid Staking also brings a number of other benefits. For example, Liquid Staking protocols allow users to stake their ETH in a more secure and reliable way than they could with traditional self-staking. The protocols also offer users higher rewards than they would receive with self-staking, as well as flexibility when it comes to setting the amount of ETH they would like to stake.

Liquid Staking also offers a better alternative to exchange staking. Exchange staking is a popular way to earn rewards on Ethereum, but it is not without its drawbacks. Exchange staking requires users to deposit their ETH into an exchange, which can be risky due to the fact that exchanges are prone to hacks and other malicious activity. Liquid Staking, on the other hand, allows users to stake their ETH in a secure and reliable way without the risk of it being stolen or lost.

All in all, Ethereum Liquid Staking protocols are becoming increasingly popular as the Shanghai upgrade approaches. The protocols offer users an easy way to get involved in the Ethereum network and earn rewards, as well as a more secure and reliable way to stake their ETH than self-staking or exchange staking. As the Ethereum network continues to evolve, Liquid Staking is sure to become an integral part of the network and will play an important role in its future success.

• The number of addresses holding $1 million worth of BTC or more has taken a beating during the crypto winter.
• A survey reveals that 70K fewer BTC wallet addresses with $1 million USD worth of Bitcoin or more exist in comparison to the all-time high of BTC in November 2021.
• Bitcoin price analyst predictions are out as we enter the new year.

The crypto winter has been raging on for over a year now, as Bitcoin’s (BTC) all-time price high of $68,789 on November 10, 2021 hasn’t been seen since. Despite the price of Bitcoin currently hovering around $16,900 on crypto exchanges, the prolonged 2022 crypto winter has taken its toll on the number of addresses holding $1 million USD worth of BTC or more.

A survey of the damage reveals that 70K fewer BTC wallet addresses with $1 million USD worth of Bitcoin or more exist in comparison to the all-time high. This is a significant reduction, considering that the price of Bitcoin has dropped by 75% since its record high.

As we enter the new year, Bitcoin price analyst predictions are out. Many investors are hoping that the cryptocurrency will rally back to its all-time high, although this is not guaranteed. Analysts are speculating that the price of Bitcoin could go as high as $60,000 or even higher in the coming months.

At the same time, the crypto winter has been a difficult period for many investors. With the number of addresses holding $1 million worth of BTC or more significantly reduced, the impact of the crypto winter is undeniable. However, there is still plenty of optimism for the future of the crypto markets. With the right strategies and a bit of luck, investors could still turn a profit from their investments in the cryptocurrency.

• India has introduced two new taxes on crypto transactions – 30% capital gains tax and 1% transaction tax as TDS – effective April 1, 2022.
• A new study has quantified the value of cumulative trading that shifted from Indian to foreign crypto exchanges after the new taxes kicked in.
• The study revealed that nearly $3.8 billion of cumulative volume has been moved overseas since the new taxes came into effect.

The Indian cryptocurrency sector has been in a state of flux since April 1, 2022, when two new taxes were imposed on crypto transactions – 30% capital gains tax and 1% transaction tax as TDS. This has caused a major disruption in the sector, with traders scrambling to find solutions to save their investments.

The new taxes have had a drastic effect on local crypto exchanges, with most estimates quoting losses to be over 90% compared to the previous year. This has caused a massive outflow of capital from Indian crypto exchanges to foreign exchanges, as Indian traders look to find more favorable conditions for their investments.

Now, a new study by CryptoPotato has quantified the value of this outflow of capital from Indian exchanges to foreign ones. The study reveals that since the new taxes came into effect, a cumulative volume of nearly $3.8 billion has been moved overseas. This is a staggering amount and is indicative of the impact of the Indian government’s policy on the sector.

The study also revealed that the foreign exchanges that have benefitted most from the Indian crypto exodus are Binance, Huobi, and OKEx. These three exchanges have seen their cumulative trading volumes increase significantly since April 1, 2022. Binance, for instance, has seen its cumulative trading volume increase by $1.1 billion, while Huobi has seen its volume increase by $1.2 billion and OKEx has seen its volume increase by $1.5 billion.

What’s more, the outflow of capital from Indian exchanges has not been limited to just trading volume. Indian traders have also been taking advantage of the more favorable conditions available in foreign exchanges to do other activities like staking, margin trading, and derivatives trading. The study reveals that the cumulative value of these activities has also increased significantly since April 1, 2022.

The Indian government’s policy of imposing taxes on crypto transactions has had a devastating effect on the sector. The study reveals that since the taxes came into effect, a whopping $3.8 billion of cumulative volume has been shifted overseas. This is a massive amount and is indicative of the impact of the Indian government’s policy on the sector.

The study also reveals that the foreign exchanges that have benefitted most from the Indian crypto exodus are Binance, Huobi, and OKEx. These three exchanges have seen their cumulative trading volumes increase significantly since April 1, 2022. Binance, for instance, has seen its cumulative trading volume increase by $1.1 billion, while Huobi has seen its volume increase by $1.2 billion and OKEx has seen its volume increase by $1.5 billion.

In addition to trading volume, the outflow of capital from Indian exchanges has also been felt in other activities like staking, margin trading, and derivatives trading. The study reveals that the cumulative value of these activities has also increased significantly since April 1, 2022.

The Indian government’s policy of imposing taxes on crypto transactions has had a devastating effect on the sector, and the study reveals that the impact of this policy is far-reaching. In addition to the large outflow of capital from Indian exchanges, the study also reveals that other activities related to the crypto sector have been affected as well. It is clear that the Indian government’s policy has had a huge impact on the sector and that it will take some time for the sector to recover fully.