Aptos Cryptocurrency Soars 391.8%: Reaches $19.92 All-Time High

• Aptos (APT) cryptocurrency has surged 391.8% in value during the past 30 days, reaching an all-time high of $19.92 per unit on Jan. 26, 2023.
• Aptos is supported by venture capital firms including Parafi, Andreessen Horowitz, and Multicoin Capital.
• The token has seen $813 million in global trading volume in the last 24 hours, with the current market capitalization of around $2.83 billion.

Aptos, a relatively new layer one blockchain asset, has seen an incredible surge in value over the past 30 days. On Jan. 26, 2023, the token reached an all-time high of $19.92 per unit, rising 391.8% against the U.S. dollar. During the last seven days, Aptos has increased 123.7%, and currently, it is the 28th largest cryptocurrency in terms of market capitalization.

The project is supported by several venture capital firms, including Parafi, Andreessen Horowitz, and Multicoin Capital. Prior to its launch, the two developers behind Aptos had previously worked on Meta’s Diem project before it was discontinued. When the mainnet went live and aptos (APT) started trading, the price increased about 20%. However, like the rest of the cryptocurrency market during the last two months of 2022, the value of aptos dropped. On Dec. 29, 2022, aptos reached an all-time low of $3.08 per coin. As of Jan. 27, however, the value of APT is 474% higher.

Today, aptos‘ value is around 11% lower than its all-time high of $19.92 per coin, and in the past 24 hours, APT reached a low of $17.37 per unit. At the time of writing, aptos has a circulating supply of around 160.54 million APT tokens and in the last 24 hours, the token has seen $813 million in global trading volume. While some traders attempted to short the market during the climb in value, many were ultimately unsuccessful.

The recent surge in value of Aptos can be attributed to the role of decentralized finance, infrastructure support, and non-fungible tokens (NFTs). Decentralized finance (DeFi) provides users with the ability to access a variety of financial services without the need for a centralized intermediary. Infrastructure support is also important as it allows developers to build applications and services on top of the blockchain. NFTs, which are digital collectibles or assets, have become increasingly popular and can be used to create unique digital experiences.

Overall, Aptos has seen an incredible surge in value over the past 30 days, and the role of DeFi, infrastructure support, and NFTs have played an important role in its recent success. While some traders have attempted to short the market, most have been unsuccessful, and as of Jan. 27, Aptos has a circulating supply of around 160.54 million APT tokens and a market capitalization of around $2.83 billion.

Ripple CEO Optimistic About SEC Lawsuit, Expects Resolution by 2023

• Ripple CEO Brad Garlinghouse expressed optimism about the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against Ripple and xrp, saying he believes it will be resolved in 2023.
• Garlinghouse said that Ripple does not plan to settle the case and wants it to be clear that XRP is not a security.
• The SEC and Ripple have submitted their final briefs for a summary judgment of the case, and Garlinghouse expects a ruling to arrive in the coming single-digit months.

Ripple CEO Brad Garlinghouse expressed optimism about the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over the sale of XRP in an interview with CNBC Wednesday at the World Economic Forum in Davos, Switzerland. The SEC filed a lawsuit against Garlinghouse, Ripple, and co-founder Chris Larsen in December 2020, claiming that XRP was an unregistered security offering.

Garlinghouse said that he is „optimistic“ that the case „will certainly be resolved in 2023,“ and that it could even be resolved in the first half of this year. He added that judges will „take however long“ they take. The Ripple executive also noted that he feels „very good about where we are relative to the law and the facts.“

Ripple has maintained that XRP is not a security, and Garlinghouse said that the company does not plan to settle the case. He explained that „it requires one very important thing, and that is that, on a go-forward basis, it’s clear that XRP is not a security.“

Both the SEC and Ripple have submitted their final round of briefs in December last year, seeking a summary judgment of the case. Garlinghouse said that he expects a ruling to arrive „sometime in the coming single-digit months.“ He also pointed out that Ripple has engaged with the SEC, and that the company is „going through a very thoughtful process.“

In conclusion, Garlinghouse expressed optimism that the case will be resolved in 2023, and that Ripple will be able to make it clear that XRP is not a security. He also noted that they are going through a thoughtful process and that a ruling should arrive in the coming single-digit months.

Bulgarian Law Enforcement Investigates Crypto Lender Nexo For Money Laundering

1. Bulgarian law enforcement officials are investigating crypto lender Nexo for alleged money laundering and sanctions violations.
2. On Jan. 12, 2023, Bulgarian law enforcement raided Nexo’s offices in Sofia as part of the investigation.
3. Nexo denied any wrongdoing and stated that the company has stringent anti-money laundering and know-your-customer policies.

Bulgarian law enforcement officials have launched a large-scale investigation into crypto lender Nexo for alleged money laundering and sanctions violations. Siika Mileva, a spokesperson for Bulgaria’s attorney general, confirmed that 300 investigators from various agencies are involved in the probe. This led to a dramatic raid on Nexo’s offices in Sofia on Jan. 12, 2023.

The raid was conducted by the National Security Service, Gendarmerie, and Sofia Police and was triggered by evidence of a client of the platform who transferred cryptocurrency and was officially declared an organizer of terrorist activity. Svetlio Vasilev, the head of Bulgaria’s cybercrime unit, announced that more than 15 addresses are being searched and new persons of interest are being established.

In response to the allegations, Nexo denied any wrongdoing in a statement on Twitter. The company, which is based in London but also has offices in Sofia, said it has always had stringent anti-money laundering and know-your-customer policies in place. “Unfortunately, with the recent regulatory crackdown on crypto, companies like Nexo are being unfairly targeted by law enforcement,” the statement read.

It remains to be seen how the investigation will play out and what the consequences will be for Nexo. The company could face fines or other penalties if it is found guilty of the allegations. In the meantime, it has urged its customers not to be concerned, stating that it is fully compliant with applicable laws and regulations and will continue to serve its customers with the highest levels of security and transparency.

Banking Organizations Warned of Risks of Crypto-Assets by Federal Reserve and Others

• The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly issued warnings about crypto risks to banking organizations.
• The statement named many risks, including fraud and scams, legal uncertainties, inaccurate or misleading representations by crypto companies, significant volatility in crypto markets, run risks, and contagion risks.
• The regulators emphasized that risks related to the crypto-asset sector that cannot be mitigated or controlled should not migrate to the banking system.

The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have released a joint statement warning banking organizations of the risks associated with cryptocurrencies. The regulators highlighted the significant volatility and exposure of vulnerabilities in the crypto-asset sector and named the various risks that banking organizations should be aware of.

The statement detailed the risks of fraud and scams, legal uncertainties, inaccurate or misleading representations by crypto companies, significant volatility in crypto markets, run risks, and contagion risks. They emphasized that risks related to the crypto-asset sector that cannot be mitigated or controlled should not migrate to the banking system and that business models that are concentrated in crypto-asset-related activities or have concentrated exposures to the crypto-asset sector are highly likely to be inconsistent with safe and sound banking practices.

The regulators also noted that all banking organizations should assess the risks associated with cryptocurrencies and take appropriate steps to ensure that their activities do not pose any undue risk to their organizations. They encouraged banks to establish policies and procedures, including appropriate due diligence, to manage the risk associated with cryptocurrencies. Furthermore, the regulators warned that banks should ensure that their activities are consistent with all applicable laws and regulations.

The regulators stated that they are committed to ensuring the safe and sound operation of banking organizations and stressed that banks should carefully consider the potential risks associated with crypto-assets and assess them in the context of their overall operations. They urged banks to remain vigilant in monitoring the current and emerging risks associated with cryptocurrencies and to take appropriate steps to manage and mitigate the associated risks.

In conclusion, the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly issued warnings about the risks associated with cryptocurrencies and urged banking organizations to assess the risks and take appropriate steps to ensure that their activities do not pose any undue risk to their organizations.

Core Scientific to Shut Down 37,000 Bitcoin Mining Rigs in Debt Dispute

• Core Scientific plans to shut down 37,000 bitcoin mining rigs belonging to now-defunct crypto lender Celsius.
• Celsius owes Core Scientific approximately $7.8 million for energy and hosting costs.
• Core Scientific filed for Chapter 11 bankruptcy protection and lawyers representing the company have stated that shutting down the bitcoin mining devices would save the firm a substantial amount of funds.

Core Scientific, one of the largest bitcoin miners in the industry, has announced plans to shut down 37,000 bitcoin mining rigs belonging to now-defunct crypto lender Celsius. The news follows Celsius looking to extend customer claims.

Core Scientific has been unable to make regular payments to the hosting contract as outlined in the agreement between the two bankrupt firms. As a result, Celsius reportedly owes Core Scientific approximately $7.8 million for energy and hosting costs. This debt has been accumulating since July, and Core Scientific lawyers have stated that shutting down the bitcoin mining devices would save the firm a substantial amount of funds. The company could potentially make $2 million per month if it rents out the hosting seats to another mining operation.

On Nov. 7, 2022, records show that 41% of Core Scientific’s servers are for customers paying for hosting services. Consequently, the company filed for Chapter 11 bankruptcy protection on Dec. 21, 2022, but with the condition that the firm’s machines continue to operate in order to pay down debt.

Chris Koenig, a lawyer for Celsius, has stated that the crypto lender has agreed to shut down the 37,000 bitcoin mining rigs and end the hosting contract. „We’re not seeking to make a dollar off of Core after today,“ Koenig remarked.

Core Scientific’s decision to shut down the bitcoin mining rigs belonging to Celsius is a major development in the two bankrupt firms‘ ongoing debt dispute. It remains to be seen how this move will affect the outcome of the dispute, as well as how it might impact the broader industry.