• Mike Novogratz, the founder of Galaxy Digital Holdings, argued that the events of 2022 have ‘cleansed’ the industry and that it is now time to survive the “transition period”.
• Novogratz warned that 2023 is a year to survive and that the outlook for crypto is not great due to regulatory headwinds.
• However, he suggested that, long term, “crypto is not going away” and that the prices of Bitcoin and Ethereum have held relatively steady.

Mike Novogratz, the founder of the US-based crypto financial services firm Galaxy Digital Holdings, recently spoke to CNBC about the future of digital currency. He argued that the events of 2022 have ‘cleansed’ the industry and that it is now time to survive the “transition period”.

Novogratz suggested that 2022 was a “grand washout” for the crypto industry, explaining that those who had a sell, they sold, and those who were leveraged, got out of the leverage. He warned that 2023 is a year to survive and that the outlook for crypto is not great due to regulatory headwinds.

However, he suggested that, long term, “crypto is not going away” and that the prices of Bitcoin and Ethereum have held relatively steady over the last couple of months and have gone up in the last few days. Novogratz noted that there are still “some overhangs – DCG, and Genesis, and Gemini – that will play out in the next quarter,” but that there is still room for optimism in the industry.

Novogratz went on to explain that the crypto industry must now focus on cutting costs and surviving this transition period. He suggested that those involved in the industry should focus on creating a narrative that inspires confidence and trust in digital currency and that investing in high-quality teams, products, and platforms is the best way to ensure the industry’s long-term success.

Overall, Novogratz argued that the future of the crypto industry is still bright, despite the challenges of the present. He suggested that those involved in the industry should focus on cutting costs, creating a positive narrative, and investing in high-quality teams, products, and platforms in order to ensure its long-term success.

• Tamadoge Games Arcade Beta has been released and the community is responding positively
• The platform offers three games to play, with two more being added soon
• Tamadoge has thrown down the gauntlet to its competitors by delivering on its vision of bringing real utility and value to the meme coin space

This week, the crypto community has been set ablaze by the launch of Tamadoge Games Arcade Beta. Developed by the meme coin Tamadoge, the play-to-earn metaverse games platform combines Tamagotchi-like fun with blockchain technology.

The platform offers three games to play in the Tamadoge Arcade: To the Moon, Rocket Doge, and Super Doge. Two more games will be added soon. As the platform is still in beta, users can test the games before they are officially released.

The launch of the platform has thrown down the gauntlet to other meme coins and crypto projects, such as Dogecoin, Shiba Inu, and Bonk. Tamadoge has delivered on its vision of providing real value and utility to the meme coin space.

The response from the community has been off the charts. In the first fifteen hours of the beta testing, users racked up over 150 hours of gameplay, with over 6,000 retries. The most popular game so far has been Super Doge.

In October 2022, Tamadoge became a top three meme coin with daily trading volumes in excess of $57 million. Its TAMA token registered an all-time high on the 4th October 2022, reaching $0.173. Crypto watchers predict that the Tamadoge price is likely to surpass those heights on the back of product development and real-world adoption.

The launch of Tamadoge Games Arcade Beta has been met with a lot of enthusiasm from the crypto community. With its promise of fun and rewards, the platform is sure to become a popular destination for users looking to play and earn. With more games and features in the pipeline, the future looks bright for Tamadoge and its users.

• XRP price is currently in the buy zone and analysts believe it’s a bargain to get in now.
• A lawsuit by the Securities and Exchange Commission (SEC) against Ripple and its top executives for allegedly selling XRP as an unregistered token is ongoing.
• Whale investors have been buying XRP since November, which could point to a major rally ahead of the next bull market.

Ripple’s XRP (XRP) is back in the buy zone and analysts have identified it as a bargain to get in at this time. This comes after a market-wide relief rally that saw assets like Solana (SOL), Polygon (MATIC) and Litecoin (LTC) post double-digit gains in less than a week. The international money transfer token is, however, still facing a legal burden in the form of a lawsuit by the Securities and Exchange Commission (SEC).

The SEC accuses Ripple and its top executives of selling XRP as an unregistered token, thus breaching the Securities Act. Both parties have filed their final submissions to the court and the world is now eagerly awaiting the court’s ruling. At the center of the case are the Hinman documents and emails that state Ethereum was not a security. According to legal experts like John Deaton, the lawsuit has a higher chance of going to trial than a settlement.

XRP price has been falling since September, when bulls tapped out at $0.56. Despite this, support at $0.30 has remained strong, even after being tested five times in the last six months. This same level could mark the XRP price bottom ahead of a major rally into the next bull market. This prediction is further supported by Santiment data, which reveals that large-volume investors, otherwise known as whales, have been buying XRP since November.

XRP was one of the top-performing cryptocurrencies in 2020, with a peak of more than $0.75. The token’s price has since been on a downward spiral, with the bulls unable to surpass the resistance at $0.30. Despite the current bearishness, XRP is still one of the most widely-used tokens in the crypto industry. The token is used as a medium of exchange in countries like Japan, India, and the United Kingdom, and is accepted by more than 400 companies worldwide.

If the court ruling goes in Ripple’s favor, there is a possibility of XRP price returning to its previous highs. On the other hand, if the ruling goes against the company, the XRP price could dip even further. Whichever way the ruling goes, it is clear that XRP is in a prime position to take advantage of any price movements, especially if the bulls can break the $0.30 resistance. With the whales already scooping up XRP, all eyes are now on Ripple as the wait continues for the court’s decision.

• Magic Eden, an NFT marketplace, has pledged to refund users who were sold fake NFTs in a massive exploit.
• The exploit affected popular collections such as ABC and y00ts and involved the sale of unverified NFTs.
• The team has identified 25 unverified NFTs sold across 4 collections and is currently checking if any additional NFTs were affected.

An NFT Marketplace, Magic Eden, is taking steps to ensure the safety of its users. Following an exploit that saw the sale of fake NFTs, the platform is pledging to refund users who were affected.

The incident, which was discovered on the morning of January 4 (PT time), affected some of the marketplace’s most popular collections including ABC and y00ts. The exploit involved the sale of unverified NFTs, which were passed off as part of verified collections. The creator of ABC, HGE, described the issue as “a massive exploit”, affecting high-value NFTs and called for the site to be paused.

The team from Magic Eden have since identified that the exploit was contained to 25 unverified NFTs sold across 4 collections. These unverified NFTs were visible on the collection pages and transactions of these NFTs were visible in the activity tabs of the collections.

The team is working to ensure the issue is fully resolved. They are currently checking if any additional NFTs were affected and they are taking steps to refund all users who mistakenly bought unverified NFTs. They are also working to prevent similar incidents from occurring in the future.

To ensure the safety of its users, Magic Eden is urging everyone to properly verify the authenticity of any NFTs before purchasing them. They are also encouraging users to report any suspicious activity they may find on the platform.

The team wants to reassure the community that the platform is safe for trading and that they are taking the necessary steps to protect their users. They are continuing to monitor the situation and will update the community with any new information.

• Square Enix, a prominent Japanese video game developer and publisher, announced that it will continue to invest in blockchain games in the upcoming year.
• Square Enix is developing multiple blockchain games based on original IP and plans to launch more games in 2023.
• The Japanese government is encouraging Web3 development and even awarded some authorities with NFTs in 2022.

Square Enix, one of Japan’s most prominent video game developers and publishers, has announced that it will continue to invest in blockchain games despite the recent turbulence in the crypto market. In a Sunday letter, Yosuke Matsuda, the president of the company, detailed that Square Enix is „most focused“ on blockchain-powered gaming and will double down on web3 gaming in the upcoming year.

Matsuda stated that the company is developing multiple blockchain games based on original IP, rather than their existing franchises, with plans to launch even more such games in 2023. The company is also actively considering investment opportunities around blockchain in Japan or abroad. He noted that despite the extreme volatility in the crypto and NFT space and a somber string of news stories with blockchain connections, including the scandalous bankruptcy filing of FTX in November, there was still widespread adoption of blockchain technology.

The Japanese government’s focus on encouraging web3 development has also been a major factor in Square Enix’s decision to continue investing in blockchain games. The government has launched a „Priority Policy Program for Realizing a Digital Society“ and even awarded some authorities with NFTs in 2022.

Matsuda believes that blockchain games will transition to a new stage of growth in 2023, and Square Enix is looking to capitalize on this growth. The company is hoping to build on their existing successes in the blockchain gaming space, such as their popular blockchain-powered card game, Dragon Quest Rivals, and the decentralized fantasy game, Final Fantasy NFTs.

Square Enix is confident that its investment in blockchain games will pay off and is actively exploring new opportunities in the space. With the Japanese government’s support and the continued growth of the blockchain gaming industry, the company is confident that it will be able to continue to innovate and create engaging games for players around the world.

• Binance is reportedly close to sealing a deal to buy a majority stake in the South Korean crypto exchange Gopax.
• Reports suggest that the deal has been agreed in principle, but there are still a few final remaining legal and procedural hurdles to be cleared.
• Should Binance complete the move, it will gain access to the high-volume South Korean market.

One of the world’s largest cryptocurrency exchanges, Binance, is reportedly close to finalizing a deal to acquire a majority stake in the South Korean crypto exchange Gopax. According to multiple domestic media reports, the deal has been agreed in principle, but there are still a few remaining legal and procedural hurdles that need to be cleared before the deal can be made official.

Gopax is one of only five domestic exchanges to have been granted a fiat KRW trading license, and also has a banking deal with Joenbuk Bank, which provides individual accounts for all Gopax customers. Should Binance complete the move, it will gain direct access to the high-volume South Korean market.

However, despite reports that the deal has been completed, Gopax has denied these claims and said that it was “unable to confirm” the veracity or otherwise of the reports. Decenter wrote that Binance had already “completed” its due diligence for what it called the “acquisition of Gopax,” and that the exchange was “taking the final steps” needed before “confirming the procedure.”

The media outlet stated that an unnamed person close to the deal had confirmed that Binance had “planned to announce the acquisition around Christmas last year,” but added that a few final obstacles still remained. These could pertain to consultations with minor shareholders and “procedural inspections” pertaining to foreign investors wishing to do business in South Korea.

Should Binance successfully complete the deal and acquire a majority stake in Gopax, it will gain access to the high-volume South Korean crypto market, which is currently estimated to be worth around $4.6 billion. It is expected that the move will significantly bolster Binance’s presence in the region, and will help to further promote the adoption of cryptocurrencies in South Korea.