LG Smart TV Owners Can Now Enjoy Virtual Concerts and AI Games in the Metaverse

• LG Electronics is increasing their metaverse activities to bring Web3 and metaverse experiences to owners of its smart TVs.
• The company is teaming up with the metaverse operator Oorbit to offer virtual concerts and AI-powered multiplayer games on the Auxworld platform.
• LG is also allowing Blade Wallet users to buy and sell non-fungible tokens (NFTs) on LG smart TV devices, using the LG Art Lab service.

LG Electronics, a South Korean tech titan, is ramping up their metaverse activities to bring Web3 and metaverse experiences to owners of their smart TVs. At the 2023 Consumer Electronics Show in Las Vegas, the company made multiple metaverse-related pledges and has now announced a new deal with the metaverse operator Oorbit that will allow LG smart TV owners to access these same virtual worlds.

Through the Oorbit deal, LG smart TV users will be able to attend virtual concerts via the music and games platform ELYNXIR. Additionally, they will be able to play AI-powered multiplayer games on the Auxworld platform. LG is also allowing Blade Wallet users to buy and sell non-fungible tokens (NFTs) on LG smart TV devices, using the LG Art Lab service. This function will be enabled through the Hedera Hashgraph network, as has been the case with many of LG’s previous Smart TV and Web3 drives.

On top of this, LG showcased “monster”-themed virtual sports shoes created “using NFT technology” – and designed to be worn in metaverse spaces. This is part of LG’s larger effort to bring the metaverse experience to its customers and stay ahead of the competition. LG’s telecoms arm, LG U+, has already signed a deal with the cloud provider Megazone and the gaming operator Gala Lab to build a metaverse service tailored to university students, which is expected to launch early next year.

The metaverse is quickly expanding, and LG is on the forefront of bringing these experiences to its customers. With their new partnership with Oorbit and the other initiatives that the company has implemented, LG is well-positioned to capitalize on the metaverse trend and provide its customers with an immersive and interactive experience.

Turkey’s First CBDC Trial Successful: Next Step in Digital Currency Revolution

• The Central Bank of the Republic of Turkey (CBRT) has successfully carried out the first trial of its CBDC, the Digital Turkish Lira.
• Many countries are exploring the use of central bank digital currencies, with China, Hong Kong and Mainland China set to launch the first cross-border pilot project and Japan’s central bank likely to begin its digital yen pilot in 2023.
• India’s central bank has also undertaken its first pilot for retail digital currency, with four local banks and four major cities participating in the trial.

The Central Bank of the Republic of Turkey (CBRT) recently conducted the first successful trial of its central bank digital currency (CBDC), the Digital Turkish Lira. This is a significant milestone in the country’s modernizing of its financial system and increasing of financial inclusion.

The CBRT issued a press release on December 29, in which it stated that, “In the scope of the first-phase studies of the Digital Turkish Lira Project, conducted under the leadership of the [CBRT], the first payment transactions on the Digital Turkish Lira Network were executed successfully.”

Turkey is not the only country exploring the use of CBDCs. In fact, many countries are actively pursuing the implementation of digital fiat. China, for example, has been at the forefront of the CBDC movement and recently expanded its digital yuan pilot to include additional cities. Additionally, Hong Kong and Mainland China are set to launch the first cross-border pilot project for the digital yuan.

The National Bank of Ukraine (NBU) introduced a draft concept for its CBDC, digital hryvnia, or e-hryvnia, at the end of November. India’s central bank also announced that it would undertake its first pilot for retail digital currency on December 1, with four local banks and four major cities participating in the pilot.

Furthermore, Japan’s central bank could begin piloting the digital yen as early as spring 2023 and will reportedly start a trial involving “consumers and private sector companies.” It is expected that more countries will begin exploring the use of central bank digital currencies in the near future.

The use of CBDCs could potentially bring many benefits, such as faster and cheaper international payments, increased financial inclusion, better customer service and greater transparency. Such digital currencies could also provide a more efficient way of conducting transactions, as well as providing a more secure and reliable means of payment.

The implementation of such digital currency systems could prove to be a great leap forward for many countries, as it could create new opportunities for economic growth and development. With the increasing number of countries exploring the use of CBDCs, it is expected that more countries will join the trend in the near future.

LUNC: Could Short-Term Bounce Lead to Medium-Term Gains?

• Terra Luna Classic (LUNC) is an underperformer, down 5.5% in the last 24 hours and 20% from its weekly highs.
• Its recent pullback suggests a near-term technical outlook may not be too great, but there is some reason to be optimistic and there may be a short-term rally back to its recent highs.
• The breakout from the downtrend suggests LUNC’s medium-term prospects for early 2023 are looking much better, but it’s still uncertain if it will get back to its September highs.

Terra Luna Classic (LUNC) has been having a rough week in the market, nursing losses of about 5.5% in the last 24 hours and underperforming many of its peers. LUNC/USD was last changing hands in the mid-$0.00014s, down about 20% from its earlier weekly highs above $0.00018, but still up about 15% from monthly lows in the $0.000127 area.

The abrupt turnaround in recent days comes after the cryptocurrency failed to sustain an attempted push to the north of its 200-Day Moving Average. The fact that the cryptocurrency has now dipped under its 21 and 50DMAs as well suggests the near-term technical outlook might not look too great. But there is some reason to be optimistic and, as a result, near-term price predictions shouldn’t be too pessimistic.

LUNC’s latest pullback has seen it fall back to come close to testing a downward trendline that had previously been acting as resistance but may now switch to acting as support. That may be enough to encourage the bulls to re-enter the market and start buying the dip. If so, LUNC could be looking at a short-term rally back to its recent highs in the $0.00018-20 area.

The breakout from the downtrend that had dominated LUNC price action since September suggests that the cryptocurrency’s medium-term prospects for early 2023 are looking much better. Of course, in the absence of a broader crypto market rebound in early 2023, it’s going to be difficult for LUNC to get back to its September highs in the $0.0006 area.

The recent pullback of LUNC has shown that it is possible for the coin to experience a short-term rally. However, the success of this rally will depend heavily on the state of the broader crypto market in early 2023. If the market does indeed experience a rebound, then LUNC could very well experience a strong upside. On the other hand, if the market fails to experience a rebound, then LUNC may continue to experience losses.

No matter how the market turns out, LUNC is still in a good position to experience some upside in the near future. It is important to note, however, that this upside is not guaranteed, and investors should always be careful when investing in any cryptocurrency.

MicroStrategy Invests $42.8M in Bitcoin, Bolstering Its Total Holdings to $5.3B

• Michael Saylor, the founder and former CEO of software firm MicroStrategy, recently purchased approximately 2,395 bitcoins for approximately $42.8 million.
• The firm also sold some of its crypto assets over the past week for cash proceeds of approximately $11.8 million.
• Following these transactions, MicroStrategy’s bitcoin holdings have increased from about 130,000 bitcoins as of October 31, 2022, to about 132,500 bitcoins as of December 27, 2022.

Michael Saylor, the founder and former CEO of software firm MicroStrategy, continues to demonstrate a bullish approach to bitcoin (BTC) with his latest investment of about $42.8 million in the top crypto. In a recent filing with the Securities and Exchange Commission (SEC), the business disclosed a purchase of about 2,395 bitcoins made with cash, at an average price of some $17,871 per bitcoin, inclusive of fees and expenses.

The firm has also sold some of its crypto assets over the past week with the aim to optimize its taxes, as indicated by the filing. On December 22, 2022, MicroStrategy sold approximately 704 bitcoins for cash proceeds of approximately $11.8 million, at an average price of approximately $16,776 per bitcoin, net of fees and expenses. MicroStrategy plans to carry back the capital losses resulting from this transaction against previous capital gains, to the extent such carrybacks are available under the federal income tax laws currently in effect, which may generate a tax benefit.

On December 24, 2022, MicroStrategy also acquired approximately 810 bitcoins for approximately $13.6 million in cash, at an average price of approximately $16,845 per bitcoin, inclusive of fees and expenses. Following these transactions, the firm’s bitcoin holdings have increased to about 132,500 bitcoins, from about 130,000 bitcoins as of October 31, 2022.

The filing also stated that the company’s bitcoin holdings are held as a long-term investment on the balance sheet and are intended to provide a hedge against inflation. MicroStrategy has been investing in bitcoin since August 2020, when it announced its first purchase of 21,454 bitcoins for $250 million. Since then, the firm has continued to invest in the leading cryptocurrency, with its total holdings now worth more than $5.3 billion.

The move is the latest in a series of high-profile investments in bitcoin by corporate entities, including Square, PayPal, and Tesla. Analysts believe that the increasing demand for bitcoin from institutional investors is driving up the price of the asset, and its adoption is likely to continue to accelerate in the coming years.

Galaxy Digital Invests $35M Into Argo Blockchain to Help Restructure Operations

• Galaxy Digital, Michael Novogratz’s crypto-focused financial services firm, has bought Argo’s Helios Bitcoin (BTC) mining facility and provided an additional $35 million loan to help with restructuring efforts.
• The cash proceeds from the sale will be used by Argo to repay existing debts and prepayment interest, and other fees of approximately $84 million owed to NYDIG ABL LLC and $1 million to North Mill Commercial Finance.
• Galaxy will host Argo’s 23,619 Bitmain S19J Pro mining machines located at Helios for two years.

Michael Novogratz’s crypto-focused financial services firm, Galaxy Digital, recently announced that it would be buying Argo’s Helios Bitcoin (BTC) mining facility and providing an additional $35 million loan to help with restructuring efforts. This move comes as part of a larger effort by Argo to reduce its debt and improve its balance sheet and liquidity.

The cash proceeds from the sale of Helios, along with a portion of the borrowings under the asset-backed loan, will be used to repay existing debts and prepayment interest, and other fees of approximately $84 million owed to NYDIG ABL LLC and $1 million to North Mill Commercial Finance. Additionally, $6 million will be returned to the company upon this repayment from a collateral account controlled by NYDIG ABL LLC.

Galaxy will host Argo’s 23,619 Bitmain S19J Pro mining machines located at Helios for two years. Peter Wall, Argo’s Chief Executive, noted that this “transaction with Galaxy is a transformational one for Argo and benefits the Company in several ways. It reduces our debt by $41 million and provides us with a stronger balance sheet and enhanced liquidity to help ensure continued operations through the ongoing bear market. It also allows us to focus on optimizing our operations with significantly lower capex [capital expenditures] and opex [operating expenses] requirements.”

The announcement marks a major development in the ongoing efforts to help Argo Blockchain restructure its operations, and given the impact of the ongoing bear market, it remains to be seen what the future holds for the company. Nonetheless, the move by Galaxy Digital to invest in Argo is a positive sign and could help the company turn its fortunes around.

SEC General Counsel Steps Down Amid Controversy Over FTX Founder Meetings

• Dan Berkovitz, General Counsel at the Securities and Exchange Commission, has stepped down amid reports that he had met and dined with disgraced FTX founder Sam Bankman-Fried.
• The emails were initially obtained by the watchdog Protect the Public’s Trust, showing the SEC official had a warm relationship with SBF.
• SBF was the second largest donor to the Democratic Party in the 2021-2022 election cycle, donating $39,884,256 to Democrats.

Dan Berkovitz, the General Counsel at the Securities and Exchange Commission (SEC), has stepped down amidst mounting controversy surrounding his meetings with Sam Bankman-Fried, founder of the now-defunct FTX. According to a recent announcement, the SEC said that Berkovitz is departing his role at the agency effective January 31. Megan Barbero, currently SEC Principal Deputy General Counsel, will be appointed General Counsel following his departure.

The news of Berkovitz’s departure is linked to a series of meetings he had with Bankman-Fried and other crypto lobbyists. The emails were initially obtained by the watchdog Protect the Public’s Trust and were viewed by the Washington Examiner. These emails revealed a warm relationship between the two, suggesting that Berkovitz was an ally of FTX within the financial regulatory agency.

The meetings in question took place in October 2020, while the SEC and CFTC were discussing the best methods for regulating cryptocurrency. Bankman-Fried, FTX General Counsel Ryne Miller, and then-FTX President Brett Harrison all attended the dinner with Berkovitz at a luxury restaurant. The presence of Berkovitz at the dinner shows Bankman-Fried’s efforts to influence lawmakers and regulators.

It was later revealed that Bankman-Fried was the second largest donor to the Democratic Party in the 2021-2022 election cycle, donating $39,884,256. This revelation prompted criticism from Elon Musk, who suggested that it was a sign of corruption in Washington.

In light of the controversy, Berkovitz has now stepped down from his role at the SEC. Although the exact reasons for his departure remain unclear, it appears that the allegations of corruption were too much for him to bear. Meanwhile, the agency has appointed Megan Barbero as the new General Counsel, and she will be tasked with restoring public trust in the SEC.

Cryptocurrency Fraudster Avraham Eisenberg Arrested for Stealing $110 Million

• A man named Avraham Eisenberg was arrested for attempting to steal around $110 million from the decentralized cryptocurrency exchange Mango Markets.
• He allegedly manipulated the Mango native token MNGO to artificially inflate the price of the token, enabling him to borrow and withdraw $110 million worth of different cryptos.
• Following talks with Eisenberg, a settlement was reached to recoup $67 million of the stolen funds.

The US authorities have recently cracked down on a major cryptocurrency fraud involving Mango Markets and Avraham Eisenberg. According to a complaint signed by an FBI agent and made public in a Manhattan federal court, Eisenberg is alleged to have attempted to steal around $110 million by manipulating Mango’s native token MNGO.

Eisenberg is accused of committing commodities fraud and manipulation related to Mango Markets, a decentralized cryptocurrency exchange. He allegedly used two accounts to buy and sell futures based on the relative values of MNGO and USD Coin (USDC), acting on both sides of the trade to artificially inflate MNGO’s price. This enabled him to borrow and then withdraw $110 million worth of different cryptos.

The exchange soon initiated talks with Eisenberg, which eventually led to a settlement to recoup $67 million of the stolen funds. According to the December 23 complaint, “members of the Mango DAO voted to approve the October 13, 2022 proposal described above. Following that approval, multiple cryptocurrency wallets sent the Mango DAO approximately $57 million worth of cryptocurrency, in addition to the 10 million USDC that Mango DAO had already received.” Unfortunately, members of Mango DAO and Mango Markets have still not received the remaining $40 million worth of stolen cryptos.

Eisenberg was arrested on December 26 in Puerto Rico, as U.S. Attorney Damian Williams stated in a court filing. It is unclear whether Eisenberg will face any further charges or what his punishment may be. However, the incident serves as a reminder of the risks associated with investing in cryptocurrencies and the importance of taking proper precautions.

Explore the Possibility of Stablecoins with Ripple Labs: Find Better Investment Opportunities with FGHT

•Republic of Palau is working with Ripple Labs to explore the possibility of developing a national stablecoin.
•XRP is currently trading sharply lower near the 0.3576 level, and a break below that level may further exert bearish pressure.
•Alternative coins like FightOut (FGHT) may offer investors better short-term investment opportunities.

The global crypto market has been in a state of stagnation for the past few weeks, with many coins struggling to remain above their respective supports and resistances. The XRP price prediction, in particular, remains bearish as it struggles to break above the $0.3715 level. Despite occasional setbacks like bankruptcies and arrests of some major players in the past, several governments have expressed interest in joining the crypto bandwagon and are actively exploring the possibility of developing a national stablecoin.

One such government is the Republic of Palau, who recently announced that its IT staff has been working with blockchain company Ripple Labs to explore the prospect of creating a national stablecoin. According to President Surangel S. Whipps Jr., the move is aimed at providing Palau citizens with access to financial services and providing them with a more secure way to save and transact.

This news has had an adverse effect on the XRP/USD pair, causing its price to fall. The XRP/USD is currently trading at $0.3560, with a bearish bias. Candle closings below the 0.3715 level have triggered a bearish movement, and a break below the 0.3560 level may cause the pair to drop towards the 0.3445 level.

Leading technical indicators such as MCD and RSI are trading in a bearish zone, indicating that the market is currently in a strong selling trend. Any bullish breakout of the 0.3715 level could potentially cause the ripple to rise towards the 0.3810 level.

With the market being in a state of stagnation, investors can seek out alternative coins with better short-term prospects. One such coin is FightOut (FGHT), a platform that functions similarly to a personal trainer. It aims to empower users to take control of their physical and mental health by offering them access to top health and fitness professionals, personalized nutrition plans, and lifestyle coaching.

FightOut (FGHT) is currently in the pre-sale stage, and investors can get in early to benefit from the coin’s potential for long-term growth. It is also worth noting that the coin is backed by a strong community of health and wellness professionals, which further increases its potential for success.

Overall, while the XRP price prediction remains bearish, alternative coins like FightOut (FGHT) may offer investors better short-term investment opportunities. It is important to do one’s own research before investing to ensure that the coin is backed by a strong community and has the potential for long-term growth.

Fidelity Ventures into Metaverse, Defrost Refunds Assets, Argo Suspends Trading

• US asset manager Fidelity has filed three trademark applications in the US to provide services in the metaverse and other virtual worlds.
• Decentralized finance protocol Defrost Finance, which was hacked on December 23, has announced plans to refund assets prior to the attack.
• Crypto mining company Argo Blockchain has requested a suspension of trading for its ADSs and unsecured notes traded on the Nasdaq Global Select Market.

Recently, US asset manager Fidelity has announced its intentions to move into the world of metaverse. The firm has filed three trademark applications to provide services in the virtual world and other related activities such as non-fungible tokens (NFTs), NFT marketplaces, virtual real estate investing, crypto trading, and metaverse investment services.

In other news, Decentralized finance protocol Defrost Finance, which had been hacked on December 23, has announced that they will be refunding all of the V1 hacked funds to their rightful owners. The team has said that they will soon start the process of refunding these assets back to their owners in the form of stablecoins.

Finally, crypto mining company Argo Blockchain has requested a temporary suspension of trading for its ADSs and unsecured notes traded on the Nasdaq Global Select Market as the London Stock Exchange is closed for trading on 27 December. The company expects that trading on Nasdaq will resume on 28 December.

These recent developments have demonstrated the continued trend of the crypto sector in gaining mainstream acceptance. With more and more companies and firms investing in crypto and related services, the crypto market will continue to expand and become more popular. Moreover, the recent hack of Defrost Finance serves as a reminder that despite the benefits of the sector, it is important to be aware of the potential security risks that come with investment in the crypto space.

Fidelity Ventures into Virtual Reality, Defrost Finance Refunds Assets, Argo Blockchain Suspends Trading

• Fidelity has filed three trademark applications in the US to provide services in the metaverse and other virtual worlds.
• Defrost Finance, which was hacked on December 23, said that, as all V1 hacked funds had been returned, the team would “soon start the process of refunding these assets to the rightful owners prior to the attack.”
• Crypto mining company Argo Blockchain said it had requested a suspension of trading for its ADSs and unsecured notes traded on the Nasdaq Global Select Market as the London Stock Exchange is closed for trading on 27 December.

US asset manager Fidelity has recently taken steps to expand its services into the world of virtual reality and blockchain technology. The company has filed three trademark applications in the US to provide services in the metaverse and other virtual worlds. This includes the use of non-fungible tokens (NFTs), NFT marketplaces, virtual real estate investing, crypto trading, and metaverse investment services.

This move comes as the blockchain and virtual reality industries continue to grow. The use of non-fungible tokens has drawn the attention of investors and the general public alike, as the potential for the tokens to revolutionize asset ownership is explored. In addition to this, virtual real estate investing has become an increasingly attractive option for those looking to diversify their portfolio.

In other news, decentralized finance protocol Defrost Finance, which was hacked on December 23, has announced that all V1 hacked funds have been returned, and the team will soon begin the process of refunding these assets to the rightful owners prior to the attack. In the following days, a refunding smart contract will be deployed, and owners will be able to claim their assets back in stablecoins. This is sure to be welcomed news to those who lost funds in the attack.

Finally, crypto mining company Argo Blockchain has requested a suspension of trading for its ADSs and unsecured notes traded on the Nasdaq Global Select Market as the London Stock Exchange is closed for trading on 27 December. The company expects that trading on Nasdaq will resume on 28 December. This suspension is likely to be a temporary measure, and the company is confident that trading will resume soon.

Overall, Fidelity’s move into the metaverse and blockchain industries is a sign of the growing popularity of these technologies. It also shows that the company is willing to embrace new technologies and explore the potential of these industries. Additionally, the news of Defrost Finance’s refunding process is sure to bring some peace of mind to those who lost funds in the attack, and Argo Blockchain’s temporary suspension of trading shows the company’s commitment to safety.