• Europol seized assets of cryptocurrency mixer ChipMixer for its alleged involvement in money laundering activities.
• ChipMixer laundered approximately 2.88 billion euros over the past five years.
• The investigation was coordinated by several law enforcement agencies from multiple countries.

Europol Seizes $46M from Crypto Mixer

Law enforcement officials from The European Union Agency for Law Enforcement Cooperation (Europol) have seized assets from cryptocurrency mixer ChipMixer amounting to 44.2 million euros ($46 million), on March 15th, 2021. This seizure was due to allegations of money laundering activities conducted by the application since 2017.

ChipMixer Allegedly Laundered $2.88B

ChipMixer is believed to have laundered 152,000 Bitcoin (BTC) worth $2.88 billion over the past five years, according to law enforcement officials investigating the case. Amongst this sum, 360 BTC ($5.9 million) were allegedly laundered after an exploit resulting in a loss of 372 million dollars suffered by defunct crypto exchange FTX last November 2022, as reported by decentralized finance analyst ZachXBT at the time .

ChipMixer Website Shut Down

The ChipMixer website has been shut down after authorities seized four servers hosting the application and its funds have been transferred into official custody for further investigation purposes.

Money Trail Blocked By Software

ChipMixers’ chief purpose was to block blockchain trails linking criminal activity with their funds; they did so by turning deposited funds into ‘chips’ or small tokens with equivalent value and then mixing them together to anonymize the initial trail of funds. This made it attractive for cybercriminals looking to launder illegal proceeds from criminal activities such as darkweb markets, ransomware groups, illicit goods trafficking and stolen crypto assets procurement of child sexual exploitation material etc., according to Europol investigators citing a “large share” of criminal activity linked back to Chipmixers services..

Investigation Coordinated By Multiple Agencies

This investigation and subsequent enforcement was coordinated by many high-profile law enforcement agencies including Belgian Federal police, Federal Criminal Police Office of Germany, Central Cybercrime Bureau of Poland, Cantonal Police of Zurich Switzerland alongside U.S based counterparts like FBI , Department Of Homeland Security and Department Of Justice all working together towards apprehending those behind Chipmixers operations and bringing them justice

• The transfer of 49,000 Bitcoin worth $1 billion associated with U.S. law enforcement caused a spike in the coin days destroyed (CDD) metric.
• A spike in the CDD usually precedes price volatility, but exchange inflow data shows no significant spikes yet.
• Currently, BTC/USD is trading above support between $21,500 and $21,950 which is encouraging for buyers despite negative news this week.

BTC Price Volatility Brace

The transfer of 49,000 Bitcoin associated with U.S. Law enforcement that was worth $1 billion caused a spike in the on-chain metric known as ‘coin days destroyed’ (CDD). This metric measures the weighted movement of Bitcoin based on the time it was last moved from an address and is calculated by multiplying the amount of Bitcoin transferred by the number of days since BTC was added to an address. A spike in this indicator usually means that there will be price volatility ahead with bears having a slight advantage over bulls; however some long-term investors may move their Bitcoin to leverage more upside gains on futures market as well.

No Major Sell Off Signs

Despite the CDD spiking to two month highs at present, it does not necessarily suggest that there will be a large price move such as $1,000 -$1,500 anytime soon; there have been no major sell off signs detected yet by exchange inflow data which showed around 5,000 BTC (worth around $100 million) being moved out of exchanges within last 24 hours only 20% out of 49k BTC moved to an exchange indicating low risk for increased selling pressure right now.

Current Price Movement

Currently BTC/USD pair is trading above support between $21,500 and $21,950 which is encouraging for buyers despite all negative news that has come forth this week; confirmation will arrive when consecutive daily closes are done above this support area.

Investment Advice & Recommendations

This article does not contain investment advice or recommendations; every investment and trading move involves risks and readers should conduct their own research before making any decisions related to investments & trades.

Market Analysis Summary

A large transfer of Bitcoin associated with U.S law enforcement caused a noticeable spike in ‘Coin Days Destroyed’ (CDD), a key holder metric which usually precedes price volatility with bears having slight advantage over bulls; however further confirmation can only be arrived when consecutive daily closes are done above support between 21K-$22K which is currently looking positive despite negative news coming forth this week; investors should always do their own research before making any decisions related to investments & trades as there are risks involved in every trade or investment made.

• Solana network experienced a slowdown after its 1.14 network update on Feb. 25.
• In response, validators downgraded the software to improve performance levels.
• A six-step plan was released to streamline the process and an adversarial team formed to target exploits throughout the underlying protocols.

Solana Network Experiences Slowdown

The Solana network experienced a noticeable slowdown in block production after its most recent 1.14 network update on Feb. 25, causing transaction disruptions for users. To alleviate these issues, validators downgraded the software to up performance levels and restore order to the ecosystem.

Six-Step Plan For Improvement

In response, Anatoly Yakovenko, founder and CEO of Solana Labs, released a statement outlining a six-step plan for engineers to help streamline the process and improve stability as the network continues its transition into 2022 and 2023 priorities of shipping new features and tools.

Adversarial Team Formed

A major component of this plan is the formation of an adversarial team made up of one third of the Solana engineering staff in order to build additional hooks and instrumentation into the validator code and target any potential exploits within underlying protocols.

Focus On Stability

As stated in Yakovenko’s statement: “2022 priorities were shipping new features and new tools; 2023 is stability.” With this focus on stability, the hope is that it will help prevent further slowdowns or other issues from impacting user experience going forward.

Conclusion

The recent plans outlined by Solana Labs demonstrate their commitment to improving their blockchain technology through increased security measures as well as focusing on stabilizing areas where issues have presented themselves before in order to ensure optimal performance for users both now and in the future.

• The Ethereum Shapella upgrade is scheduled for Feb. 28, and will activate on the Sepolia network at epoch 56832.
• Key changes to the execution layer include warm coinbase and Beacon Chain push withdrawals.
• Major changes to the consensus layer include full and partial withdrawals for validators and independent state objects.

Ethereum Shapella Upgrade Scheduled for Feb 28

The Ethereum core developer Tim Beiko has announced that the Shapella upgrade is scheduled for Feb. 28, which will activate on the Sepolia network at epoch 56832. This upgrade is only for the Sepolia network, with a subsequent upgrade for the Goerli network to be introduced in March.

Execution Layer Changes

Some key Ethereum improvement proposal (EIP) changes on the execution layer include warm coinbase and Beacon Chain push withdrawals. Warm coinbase could reduce network fees as it requires a lower gas fee to access it while Push withdrawals allow validator withdrawals from the Beacon Chain to the Ethereum Virtual Machine via a new “system-level” operation type.

Consensus Layer Changes

Major changes to the consensus layer include full and partial withdrawals for validators and independent state objects. This means that validators can make full or partial withdrawals from their stakes depending on their needs without having to withdraw all of their staked tokens at once if they don’t want to do so.

Shanghai & Capella Names

The fork’s name on the execution layer client side is Shanghai, while Capella is its name on the consensus layer client side.

Conclusion

The upcoming Shapella hard fork promises some exciting new features such as warm coinbase, beacon chain push withdrawals, full/partial withdrawal options for validators etc., that are sure going revolutionize how we use Ethereum network in future!

• Investors of bankrupt crypto exchange FTX have filed a class-action lawsuit against venture capital firms Sequoia Capital, Thoma Bravo, and Paradigm.
• The investors allege that the financiers promoted their investments in the platform, giving it an “air of legitimacy”.
• Crypto lawyer Liam Hennessy believes it could be a case of “buyer beware” as there is no suggestion that Sequoia wasn’t playing within the regulatory rules.

Investors File Class-Action Suit Against Financiers

Users of bankrupt crypto exchange FTX have reportedly taken aim at financiers who promoted the platform, suggesting their efforts added an “air of legitimacy” to the now-defunct exchange in a case labeled as “tricky” by a crypto lawyer. A Feb. 15 Bloomberg report revealed a class-action suit filed Feb. 14 by FTX investors against venture capital firm Sequoia Capital and private equity firms Thoma Bravo and Paradigm.

Investors Accuse Firms Of Promoting Investments

The investors accused the firms of touting “their own investments” of hundreds of millions of dollars in FTX. It was alleged the firms were involved in a promotional marketing campaign in 2021, which the investors alleged added an “air of legitimacy” to the disgraced crypto exchange.

Firms Participated In Largest Crypto Raise In History

The three firms were all investors in FTX’s $900 million Series B round in July 2021, the largest raise in crypto history, in which various partners of the firms spoke highly

• Investors of bankrupt crypto exchange FTX have filed a class-action lawsuit against venture capital firms Sequoia Capital, Thoma Bravo, and Paradigm.
• The investors allege that the financiers promoted their investments in the platform, giving it an “air of legitimacy”.
• Crypto lawyer Liam Hennessy believes it could be a case of “buyer beware” as there is no suggestion that Sequoia wasn’t playing within the regulatory rules.

Investors File Class-Action Suit Against Financiers

Users of bankrupt crypto exchange FTX have reportedly taken aim at financiers who promoted the platform, suggesting their efforts added an “air of legitimacy” to the now-defunct exchange in a case labeled as “tricky” by a crypto lawyer. A Feb. 15 Bloomberg report revealed a class-action suit filed Feb. 14 by FTX investors against venture capital firm Sequoia Capital and private equity firms Thoma Bravo and Paradigm.

Investors Accuse Firms Of Promoting Investments

The investors accused the firms of touting “their own investments” of hundreds of millions of dollars in FTX. It was alleged the firms were involved in a promotional marketing campaign in 2021, which the investors alleged added an “air of legitimacy” to the disgraced crypto exchange.

Firms Participated In Largest Crypto Raise In History

The three firms were all investors in FTX’s $900 million Series B round in July 2021, the largest raise in crypto history, in which various partners of the firms spoke highly

• Kirkland & Ellis, on behalf of Voyager Digital, have issued subpoenas to four executives from FTX and Alameda Research requesting an array of documents.
• The scope of the subpoenas is wide, asking for documents related to the loan portfolio between Alameda and Voyager as well as FTX’s financial condition.
• Voyager claims its creditors have suffered “substantial harm” after Alameda made a bid for its assets that it was unable to honor.

Voyager Digital Subpoenas Executives from FTX and Alameda Research

Kirkland & Ellis, on behalf of bankrupt crypto broker Voyager Digital, have served former FTX CEO Sam Bankman-Fried and other FTX and Alameda Research executives with subpoenas requesting information. The subpoenas are expansive in nature, seeking copies of any documents and communication between FTX entities and the Securities and Exchange Commission or the Department of Justice.

Subpoena Requests Information Related to Loan Portfolio Between Alameda And Voyager

The subpoena also requested information related to the loan portfolio between Alameda and Voyager as well as FTX’s financial condition before and after it filed for bankruptcy on Nov. 11th. Among those who were served were former Alameda CEO Caroline Ellison, FTX co-founder Gary Wang, and Head of Product Ramnik Arora who were requested to provide the necessary information by Feb 17th.

Alameda Seeks To Recover $446 Million Repaid To Voyager

The ties between Voyager and Alameda are deep with the latter seeking to recover $446 million it repaid the former in a Jan 30th filing arguing that because it had paid back within 90 days of filing bankruptcy can “claw back” funds for its creditors benefit.

Voyager Claims Creditors Have Suffered Substantial Harm After Failed Bid By Alameda For Assets

In response to this claim by Alameda, Voyager has argued that its creditors have suffered “substantial harm” after a failed bid by them for their assets which costed them $100 million rendering their claims subordinate than those of other creditors.

FTX co-Founder Little Known As Executives Issue Deadline Of Feb 17th

Little is known about Wang who co-founded FTX with Bankman-Fried but Ellison has cooperated with authorities since exchange’s bankruptcy. With all those involved given a deadline till Feb 17th for providing required information needed by lawyers representing bankrupt crypto broker Voyage digital

• Rumors have surfaced that Dogecoin may switch from proof-of-work to proof-of-stake, which could have major ramifications for the mining industry.
• If Dogecoin does switch, Scrypt mining could be devastated due to the large percentage of DOGE mined. This could lead to miners having to unplug their non-L7 miners, and a decrease in network difficulty.
• ASIC manufacturers could also be affected if Dogecoin switches, as they could have to adjust their product lines to account for the change.

The recent rumors that Dogecoin may switch from proof-of-work to proof-of-stake have sent shockwaves throughout the cryptocurrency mining industry. This potential shift could have major implications for miners, as well as ASIC manufacturers.

If Dogecoin does switch to proof-of-stake, it could have serious consequences for Scrypt mining. This is because DOGE accounts for over 60% of the revenue from Scrypt mining. Should Dogecoin switch, this could mean that miners would have to unplug their non-L7 miners that are not connected to $0.04-per-kilowatt-hour electricity. This could also lead to a decrease in network difficulty.

ASIC manufacturers could also be affected if Dogecoin does shift to proof-of-stake. This is because they would have to adjust their product lines to account for the change. For example, Bitmain has supposedly paused the manufacturing of both Litecoin and Dogecoin miners. This could have an impact on their bottom line, as they rely heavily on these products to make a profit.

In the end, it is still unclear whether or not Dogecoin will switch to proof-of-stake. However, it is important to be aware of the potential ramifications should the change take place. Miners and ASIC manufacturers should be prepared for any potential shift, as it could alter the landscape of the cryptocurrency mining industry.

1. EU lawmakers have voted for more restrictive capital requirements on banks holding crypto. Banks would be required to hold a “risk-weighted exposure amount” of up to 1,250% of capital based on exposure to crypto.
2. This decision is in line with those from the Basel Committee on Banking Supervision, a body responsible for international banking standards.
3. As of 2021, BCBS reported that banks’ exposure to crypto assets was more than $9 billion.

The European Parliament has recently announced that the Economic and Monetary Affairs Committee has voted overwhelmingly in favor of amendments to its Capital Requirements Regulation and Capital Requirements Directive, which apply to banks holding cryptocurrencies. These amendments would require banks to set aside a certain amount of capital, depending on the level of exposure to crypto assets.

The committee’s decision is in line with those from the Basel Committee on Banking Supervision (BCBS), the body responsible for international banking standards. BCBS has released consultation papers in 2019, 2021, and 2022, exploring divisions of crypto assets into groups and recommending how banks should address potential risks. According to the BCBS’s 2021 report, banks’ exposure to crypto assets was more than $9 billion.

Under the new measures, banks would be required to hold a “risk-weighted exposure amount” of up to 1,250% of capital based on exposure to crypto. This means that the banks would need to set aside a certain portion of their capital that is proportionate to the risk associated with their crypto holdings.

The European Parliament also noted that this new measure was intended to protect customers from potential losses due to cryptocurrency investments. It is also intended to ensure that banks have sufficient capital to cover any losses due to the volatile nature of cryptocurrencies.

The new measures are set to be passed by the full parliament, although the exact date of implementation is not yet known. It is expected that the new rules will be in effect for all banks within the European Union by the end of 2023.

These new measures may have a significant impact on the cryptocurrency landscape in Europe. Banks may become more reluctant to offer services related to crypto investments, which could lead to a decrease in the number of investors in the European market. On the other hand, it could also lead to increased security and transparency in the industry, as banks are forced to follow stricter regulations.

In any case, the European Parliament’s decision is a major step towards regulating the cryptocurrency market in Europe. It is expected that other countries will follow suit and implement similar measures in the near future.

•HashKey Capital has closed a $500 million investment round for its FinTech Investment Fund III.
•The fund will be used to invest in infrastructure, toolings and applications that will help push the mass adoption of blockchain and crypto technologies.
•Investing in a fund creates an easy intro to engage with the Web3 space.

Hong Kong-based global asset manager HashKey Capital has just closed a $500 million investment round for its FinTech Investment Fund III. This substantial investment is meant to be used to invest in infrastructure, toolings and applications that will help push the mass adoption of blockchain and crypto technologies.

The news comes at a time where the crypto winter has affected many businesses in the Web3 space. Despite the bear market, investors are still pouring money into the space. Xiao Xiao, investment director at HashKey Capital, spoke to Cointelegraph about the reasons why investors are still interested in Web3: “Web3 is growing too fast to be ignored. Many traditional institutions and internet giants are interested in crypto. Some are learning how to participate in this paradigm shift.”

Xiao further highlighted that financial organizations could see cryptocurrency as another asset class to diversify their portfolio. He also pointed out that investing in a fund creates an easy intro to engage with the Web3 space. This is why HashKey Capital has decided to invest in startups and projects that are perpetuating mass adoption.

The $500 million investment is a sign of confidence in the Web3 space, and it will likely attract more investors who want to get involved. HashKey Capital is taking a big step in helping to push the mass adoption of blockchain and crypto technologies, and its FinTech Investment Fund III will undoubtedly have a positive impact on the future of the space.