• Floki Inu developers have proposed a governance vote to burn $55M of its tokens.
• This move is part of a broader effort to position Floki Inu as a serious DeFi project.
• Burning tokens is a way of reducing supply, and consequently, increasing the value of each token.

Floki Inu, the Shiba Inu dog breed-themed project, is making a serious push towards becoming a major DeFi contender, proposing a governance vote to burn nearly $55 million of its namesake FLOKI tokens and reduce a transaction tax.

The move to burn tokens is seen as a way of reducing supply, which subsequently adds value to each token as long as the level of demand remains the same. The Floki development team has made it clear that they are more than just a meme coin and are committed to utility and fundamentals. This was demonstrated by the mainnet release of the FlokiFi Locker protocol and the first major testnet release of their metaverse game Valhalla in a bear market.

The proposal also cited security risks associated with bridges as another reason to burn the tokens. Last year saw over $2 billion lost or stolen from cross-chain bridges, as CoinDesk reported. As such, the Floki team believes that burning the tokens will considerably reduce the risk associated with such bridges.

The development team also believes that burning the tokens will lead to increased liquidity for the project, leading to improved market efficiency and further user engagement. In addition, the development team is confident that the burn will result in increased user adoption of the Floki Inu platform, as well as of its token. This, in turn, will also lead to improved liquidity for the platform.

The Floki team is optimistic that this move towards burning tokens will help position the project as a serious DeFi contender, and they are hopeful that their proposal will receive the necessary votes to pass. If passed, the project could see a significant boost in its value, as the total amount of tokens in circulation will be reduced, and demand for them will increase.

• Timothy Stranex, the co-founder and chief technology officer (CTO) of cryptocurrency exchange Luno, departed from the company in December.
• He was replaced as CTO by Simon Ince, who joined Luno two years ago as its vice president of engineering.
• Luno, whose parent company is Digital Currency Group, has over 10 million customers worldwide with offices in London, Singapore, Cape Town, Johannesburg, Lagos, and Sydney.

Cryptocurrency exchange Luno announced on Thursday that Timothy Stranex, their co-founder and chief technology officer (CTO) had departed from the company in December. Stranex had been with the company since its founding with Carel van Wyk, Pieter Heyns and current CEO Marcus Swanepoel nearly 10 years ago. He has since been replaced as CTO by Simon Ince, who joined Luno just under two years ago as its vice president of engineering.

Luno, whose parent company is Digital Currency Group (which is also the parent company of CoinDesk), is a global cryptocurrency exchange with over 10 million customers worldwide and offices in London, Singapore, Cape Town, Johannesburg, Lagos, and Sydney. They have a wide range of services, from buying and selling digital currencies to their Luno Exchange, which allows users to trade and manage their crypto portfolios. The company has also recently launched its Luno Wallet, which allows customers to store, send and receive digital currencies.

The news of Timothy Stranex’s departure comes at a time when digital currencies are becoming increasingly adopted by the mainstream. With an ever-growing customer base, Luno is well-positioned to take advantage of this trend. With its wide range of services and a strong team of experienced professionals, Luno is set to continue its growth and remain at the forefront of the digital currency industry.

In a statement, Luno said that Stranex left the company to “pursue personal projects”. With the appointment of Simon Ince as the new CTO, the company looks forward to further developing its services and continuing its growth. Ince has a wealth of experience in software engineering, having worked with a number of leading tech companies, including Google and Microsoft.

While the news of Stranex’s departure is certainly sad, it appears that the company is in good hands with its new CTO. With strong leadership and an experienced team, Luno is set to continue its growth and remain a leader in the digital currency industry.

• Noelle Acheson discusses a new philosophy of markets, which is based on the concept of tradable assets that embody innovation.
• This new philosophy of markets is a result of the emergence of crypto assets, which are now seen as a viable market by the mainstream.
• She emphasizes that crypto is not “over”, and it should be seen as a viable form of investment, governance value and money.

Noelle Acheson, a former head of research at CoinDesk and Genesis Trading, has recently proposed a new philosophy of markets based on the concept of tradable assets that embody innovation. This new philosophy is a result of the emergence of crypto assets, which have now become accepted by the mainstream as a viable market.

Acheson notes that the public perception of crypto has shifted significantly since the last time prices were bouncing along cyclical lows. Back then, crypto was seen as a new type of money, a global computer, an engagement incentive, and a governance value. Now, however, it is seen as a market.

In light of this shift, Acheson argues that crypto should not be viewed as “over”. Rather, it should be seen as a viable form of investment, governance value, and money. She emphasizes that the potential of crypto is still largely untapped, and that it is only beginning to be explored.

Acheson also points out that crypto assets embody innovation in a way that traditional assets cannot. Unlike traditional assets, crypto assets are digital, global and programmable. This means that they can be used to create new markets and new ways of investing.

Finally, Acheson stresses the need for caution when it comes to investing in crypto. While the potential of crypto is promising, it comes with an increased risk of fraud and scams. As such, investors should be sure to do their due diligence before investing in crypto.

Overall, Acheson’s new philosophy of markets is a testament to the potential of crypto assets. By recognizing the innovative nature of crypto assets, investors can tap into the potential of this new form of investment. As the crypto market continues to grow, it is likely that more and more people will come to understand the value of crypto assets and their potential to revolutionize the world of investing.

• Cryptocurrency exchange Kraken is exiting Japan and deregistering from the Financial Services Agency as of Jan. 31.
• Bitcoin miner Argo Blockchain has agreed to sell its Helios mining facility in Texas to Galaxy Digital for $65 million and will receive a new $35 million loan from financier Mike Novogratz’s crypto-focused financial-services firm.
• Former FTX CEO Sam Bankman-Fried borrowed hundreds of millions of dollars from Alameda Research, the trading firm he owned, to purchase his stake in trading app Robinhood Markets.

Cryptocurrency exchange Kraken has announced it will exit Japan and deregister from the Financial Services Agency as of Jan. 31. 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. 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 agreed to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital for $65 million. The miner will also receive a new $35 million loan from financier Mike Novogratz’s crypto-focused financial-services firm, which will be secured by Argo’s mining equipment. The 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.

Former FTX CEO Sam Bankman-Fried also made headlines after revealing 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 struck a deal with representatives of Robinhood in August 2020 under which they received equity in the trading app in exchange for a loan of $400 million. Bankman-Fried also said the loan was secured by his and Wang’s shares in FTX, which were valued at around $2 billion at the time.

Bullet Points:
• Ethereum completed its radical shift to a new, energy-efficient system for powering its network in 2022.
• The Merge resulted in a massive reduction to the network’s energy footprint, but also led to charges of decentralization.
• The Merge did not address Ethereum’s transaction costs and slow network speeds, and failed to trigger a long-hoped-for bump to the price of ether.

In 2022, Ethereum made great strides toward creating a global computer and decentralized financial system by completing its radical shift to a new, energy-efficient system for powering its network. This upgrade to the Ethereum blockchain, dubbed the Merge, replaced the blockchain’s former power structure, which was a power-hungry crypto mining system, with a new method for issuing and validating transactions on the chain. This new system, which is based on a “proof-of-stake” system, drastically reduced the network’s energy consumption and was met with great enthusiasm from the Ethereum community.

However, the Merge also raised some serious concerns about the chain’s decentralization, as the new system requires validators to “stake” ether (ETH) with the chain in order to write transactions to the ledger. This has caused some to worry that the chain is becoming too centralized. Additionally, the Merge did not address Ethereum’s relatively high transaction costs and slow network speeds, and the event failed to trigger the long-hoped-for bump to the price of ether, which has sunk more than 20% since the Merge.

In addition to the Merge, the Ethereum network was faced with a number of issues throughout the year, including concerns around censorship and record-shattering hacks on Ethereum-linked infrastructure. Despite these issues, Ethereum’s development team was able to make significant progress in its mission to create a global computer and decentralized financial system.

Ethereum’s Merge was a major milestone in the blockchain’s history, and it is clear that the chain is on its way to becoming a more efficient, secure, and decentralized platform. While the Merge was not the silver bullet that many had hoped for, it is a step in the right direction for Ethereum and for the entire blockchain industry. As the Ethereum network continues to develop and evolve, it is likely that it will become increasingly difficult to keep up with all the changes and advancements. But, Ethereum’s development team is sure to keep pushing the boundaries of what is possible in the blockchain world.

• Kraken, a cryptocurrency exchange, will be deregistering from the Financial Services Agency in Japan at the end of January.
• Kraken users in Japan have until the end of January to withdraw their fiat and crypto holdings.
• The decision was prompted by the current market conditions in Japan in combination with a weak crypto market globally.

Kraken, a cryptocurrency exchange, announced plans to deregister from the Financial Services Agency in Japan and cease operations in the country as of January 31. This decision was prompted by the current market conditions in Japan in combination with a weak crypto market globally.

Kraken users in Japan have until the end of January to withdraw their fiat and crypto holdings, with the option of transferring crypto to another wallet or wiring Japanese yen to a local bank. The company is prioritizing resources and investments to ensure the long-term stability of the exchange.

The decision to leave Japan comes after the departure of Kraken’s co-founder, Jesse Powell, from his role as CEO in September. He was replaced by Chief Operating Officer Dave Ripley. In November, Kraken cut 30% of its global workforce as the crypto market continued to stagnate following the collapse of rival exchange FTX.

Kraken’s departure from Japan is part of a larger trend of cryptocurrency exchanges leaving the country due to regulatory issues. It is unclear how this move will affect the Japanese crypto market in the long run, but it is certain that the exchange’s exit will have an impact on the industry.