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• The Indonesian Trade Ministry is aiming to set up a national crypto exchange before June 2023, as part of the regulatory reforms adopted by the Indonesian House of Representatives in December.
• Five out of the 25 registered crypto exchanges in the country are in the running to be part of the national bourse.
• The government had placed a moratorium on the issuance of new crypto exchange licenses, but it has recently been lifted.

The Indonesian Trade Ministry is aiming to have a national crypto exchange up and running before June 2023. This is part of the regulatory reforms adopted by the Indonesian House of Representatives in December, which are designed to ensure the safety and security of the crypto space.

The ministry is currently reviewing the crypto exchanges that will be part of the national bourse. Out of the 25 exchanges that are registered with the Commodity Futures Trading Regulatory Agency, five are in the running to be part of the national bourse. Trade minister Zulkifli Hasan says that all five exchanges might be part of the ministry’s crypto exchange.

However, the establishment of the crypto exchange was delayed since the Indonesian government had placed a moratorium on the issuance of new crypto exchange licenses. This moratorium had attracted criticism from people who believed that the government was unnecessarily „making things difficult,“ according to Hasan. But the moratorium was needed to „clear the regulations,“ he added.

The Indonesian government is now working to ensure that the national crypto exchange is set up without any further delays. Hasan says that the government does not want the public to be taken for a ride, as many people may not have a good understanding of crypto trading.

The Trade Ministry is confident that the national crypto exchange will be up and running before June 2023. This will be a major milestone in the development of the crypto space in Indonesia, and it will provide a secure platform for traders and investors alike.

• Over 1,000 early crypto adopters participated in a survey to determine what the industry may look like in 2023.
• DeFi was the most in-demand category of projects requested on CoinList, followed by layer-1 and layer-2 blockchains, gaming, cross-chain infrastructure, NFTs, DAOs, and governance tokens.
• These findings confirm the current market sentiment, with DeFi being one of the main driving forces of the crypto market and potentially poised for a recovery in 2023.

Cryptocurrency is a quickly evolving technology, and as such, staying on top of the trends can be a daunting task. To get a better understanding of the industry’s current state and what could be in store for the near future, CryptoSlate recently surveyed over 1,000 early crypto adopters. The survey was conducted in order to gain insights into the most popular trends and projects in the crypto space.

The results showed that DeFi was the most in-demand category of projects requested on CoinList, with more than half of the respondents indicating it as their top choice. Layer-1 and layer-2 blockchains were the second most in-demand category, with gaming coming in as the third most requested project. Cross-chain infrastructure was the fourth most popular choice, with around 37% of respondents selecting it. NFTs, DAOs, and governance tokens followed at 26%, 20%, and 15%, respectively.

These findings confirm the current market sentiment, with DeFi being one of the main driving forces of the crypto market and potentially poised for a recovery in 2023. The survey also revealed that the crypto community is expecting big things in the coming year, with many participants indicating that they are looking forward to the potential of new use cases and applications.

The survey results also suggest that the industry is still trying to find its footing and determine the best path forward. Despite its massive slump last year, DeFi remains one of the most popular projects in the crypto space and could be the key to the industry’s recovery. Layer-1 and layer-2 blockchains, gaming, cross-chain infrastructure, NFTs, DAOs, and governance tokens are all areas that could benefit from further exploration and development.

2023 is set to be an exciting year for the crypto industry, and with so many projects and opportunities on the horizon, industry veterans and early adopters are eager to see what’s in store. CoinList’s survey results provide valuable insights into the current market sentiment and the projects that the community is most interested in. As the industry continues to evolve and progress, there’s no telling what could be in store for the crypto space in the coming years.

Bullet Points:
• Fox News host Tucker Carlson speculated that the recent bullish Bitcoin market move was due to the U.S. government buying Bitcoin to pay ransomware attackers.
• The Federal Aviation Administration (FAA) halted nationwide departures on Jan. 11 due to a “computer outage”.
• Bitcoin has recorded a 29% growth in price since the beginning of the year, with a significant 4% upswing on the same day as the FAA notice.

Fox News host Tucker Carlson recently speculated that the recent bullish Bitcoin market move was due to the U.S. government buying Bitcoin to pay ransomware attackers. The Federal Aviation Administration (FAA) halted nationwide departures on Jan. 11 due to a “computer outage”, and Carlson linked this to a cyber attack. He suggested that “almost all ransoms like this are paid in Bitcoin”, and noted that the notice occurred right around the time BTC began pumping.

This surge in Bitcoin prices has been notable, with the leading cryptocurrency recording a 29% growth in price since the beginning of the year. On the day that the U.S. flights were grounded, Bitcoin posted a significant 4% upswing to close the day at $17,930. This was accompanied by an increase in trading volume of over $50 billion on the same day.

Despite the speculation surrounding why the market is so bullish, there are a few other factors that could have contributed. Firstly, the new stimulus package proposed by the Biden administration has increased optimism for a stronger U.S. economy. This is likely to have a positive effect on Bitcoin prices, as investors are now more confident in the future of the U.S. dollar.

In addition, the news that PayPal is now accepting payments in Bitcoin has also likely had a positive impact on the market. This move is likely to further increase the retail adoption of Bitcoin, and could lead to more investors entering the market.

Finally, the heightened interest in Bitcoin from institutional investors has likely been a major factor in the recent price surge. With more large institutions entering the market, there is an increased demand for Bitcoin, which drives up the price.

Although speculation surrounding the U.S. government’s involvement in the recent Bitcoin pump is unverified, the increased interest in Bitcoin from both retail and institutional investors is likely to be a major factor in the current bullish market.

• Binance reportedly failed to follow the required procedures for their BUSD reserves from 2020 to 2021.
• This mismanagement led to Binance-peg BUSD being undercollateralized three times, with collateral gaps exceeding $1 billion per incident.
• A Binance spokesperson confirmed that currently, Binance-peg BUSD is fully backed, and there was no impact on Paxos’s BUSD.

Binance, the leading cryptocurrency exchange, reportedly failed to follow the required procedures for their BUSD reserves between 2020 and 2021. This mismanagement led to Binance-Peg BUSD being undercollateralized three times, with collateral gaps exceeding $1 billion each incident.

According to data shared by Jonathan Reiter, co-founder of blockchain analytics company ChainArgos, the amount of Binance-Peg BUSD issued on Binance’s BNB Smart Chain network indicated that the exchange issued new Binance-Peg BUSD tokens over the period without locking up the equivalent amount of Paxos-issued BUSD tokens in its Ethereum wallet as collateral.

When users purchase Binance-Peg BUSD, Binance buys BUSD from Paxos and then mints the equivalent amount of Binance-Peg BUSD tokens on the blockchain they selected. Following that, users receive their Binance-Peg BUSD, and an equal amount of BUSD is locked on Ethereum.

A Binance spokesperson has since confirmed that, at present, the Binance-Peg BUSD is fully backed, and there was no impact on Paxos’s BUSD. The spokesperson maintained that the earlier events were due to operational issues and had been rectified. He also stated that Binance has taken steps to strengthen its operational processes in order to ensure that similar issues do not occur in the future.

Binance is currently the leading cryptocurrency exchange and is one of the largest in the world with a daily trading volume of over $30 billion. It supports over 50 cryptocurrencies and provides users with an array of trading options, including margin trading and spot trading. Binance also provides a variety of services such as staking, lending, and futures trading.

The mismanagement of Binance-Peg BUSD reserves has raised important questions about the safety of funds held in Binance. It also serves as a reminder to users that they should always be vigilant when it comes to the security of their funds.

• Investment firm Albright Capital has voluntarily dismissed its fraud charges against the failed Terraform Labs and its executives including Do Kwon.
• Albright Capital’s lawsuit alleged Terraform Labs and its executives had engaged in the deceptive promotion of UST, LUNA, and other Terra cryptocurrencies.
• 3AC co-founder Zhu Shu appears to have called the attention of crypto media outlets to the recent Albright and Terra lawsuit development.

Investment firm Albright Capital has decided to dismiss its fraud charges against the failed Terraform Labs and its executives including Do Kwon. The class action had previously accused the executives of deceptively promoting the UST, LUNA, and related Terra cryptocurrencies, as well as withdrawing funds from the Terra ecosystem for their personal gains.

The motion to dismiss the lawsuit was filed on the 9th of January, and was accepted by the court shortly after. Other defendants in the class action included Luna Foundation Guard, Delphi Digital, Jump Trading, Nicholas Platias, Jose Macedo, Kanav Kariya, and Remi Tetot.

The news of the sudden dismissal has been brought to the attention of the crypto media outlets by Three Arrows Capital (3AC) co-founder Zhu Shu. He tweeted on the 10th of January that he was “curious how long it will take cryptonative media to report on this sudden voluntary dismissal of class action again”.

While the dismissal motion was accepted by the court, it is still unclear as to why Albright Capital decided to drop the legal action. This has left many speculating as to what the underlying reasons behind their decision might have been.

The news of the dismissal has certainly been welcomed by the crypto community, as it comes at a time when the sector is facing increased scrutiny from regulators. It is hoped that this development will lead to more clarity and transparency in the crypto industry, and will pave the way for more projects to develop and succeed.