Tipps und Tricks

• Mexico’s central bank digital currency (CBDC) is not likely to be ready by the previously stated deadline of 2024.
• The Bank of Mexico and its Deputy Governor Jonathan Heath suggested that the country’s digital peso would go live by 2024.
• The Bank of Mexico’s CBDC is being developed in three stages, with the first stage being the creation of a platform called PagoCel.

The development of a Central Bank Digital Currency (CBDC) in Mexico is likely to be delayed past the previously stated deadline of 2024. This was reported by El Sol de Mexico on January 2nd, after the Bank of Mexico responded to a transparency request with a statement indicating that the budget for the project is still being determined and thus, the exact date of availability is uncertain.

In late 2021, the Bank of Mexico and its deputy governor Jonathan Heath had expressed confidence in the project, suggesting that the country’s digital peso would go live by 2024. Moreover, Bank of Mexico governor Victoria Rodríguez Ceja had also suggested in April 2022 that the CBDC be in circulation by 2025.

The CBDC is being developed in three stages. The first stage will involve the creation of a platform called PagoCel, which will be used for mobile and PIN-based transfers. The second stage will see financial institutions adopt the CBDC. Finally, the third and last stage will enable individuals to use the asset.

The Bank of Mexico is currently in the process of preparing a budget that will allow an estimation of when the CBDC will be available. In the meantime, the Bank of Mexico is encouraging financial institutions to explore and further develop the technology used for the CBDC in order to make the digital peso a reality.

• Elon Musk lost $200 billion in December 2022, making him the first person to ever lose such an amount.
• Tesla lost $783 million to Bitcoin volatility in 2022.
• The total loss from Tesla’s BTC investment was 0.39% of Musk’s loss.

In December 2022, Elon Musk became the first person ever to lose $200 billion, according to Bloomberg News. This monumental loss was largely due to the significant drop in the value of Tesla, Musk’s electric car company, which fell by 65% in the same year. This massive loss can be attributed to a number of factors, including Musk’s decision to invest heavily in Twitter, which cost him $40 billion, and the volatility of Bitcoin (BTC) investments.

Tesla’s Bitcoin investment in February 2022 was a key factor in Musk’s losses. The company purchased 43,200 BTC for $1.5 billion, which equated to $716,368,320 at the time. However, due to the volatility of Bitcoin, Tesla’s total loss from its BTC investment was $873,631,680. This amounted to 0.39% of Musk’s overall $200 billion loss, demonstrating the impact of Bitcoin volatility on Musk’s financial losses.

Musk’s loss, however, has not deterred him from continuing to invest in Bitcoin and other cryptocurrency investments. In fact, Musk has recently become a vocal proponent of the digital asset, even going so far as to tweet about his support for the cryptocurrency. His enthusiasm for the asset class has led to a surge in the price of Bitcoin and other cryptocurrencies, with Dogecoin (DOGE) rising over 800% in the space of a few days.

Despite his losses, Musk remains a billionaire and has now been replaced as the world’s richest person by LVMH’s Bernard Arnault. Musk’s current estimated wealth stands at $137 billion, a substantial amount that is likely to increase as Bitcoin and other cryptocurrencies continue to rise in popularity.

• Valkyrie Investments has proposed to become the sponsor and manager of Grayscale’s Bitcoin Trust.
• Valkyrie aims to improve upon Grayscale BTC with various changes, including offering orderly redemptions at net asset value (NAV), reducing fees and offering redemptions in both Bitcoin and cash.
• Valkyrie is also launching the Valkyrie Opportunistic Fund LP, which will take advantage of the discrepancy between GBTC and the NAV.

Valkyrie Investments recently announced a proposal to become the sponsor and manager of Grayscale’s Bitcoin Trust (GBTC). If approved, the company plans to improve upon the operation of the fund in various ways.

The company intends to offer orderly redemptions at net asset value (NAV) so customers can withdraw their funds at a fair value without any issues. Valkyrie also plans to reduce the fees associated with GBTC, as well as offer redemptions in both Bitcoin and cash.

Valkyrie believes that their proposal is a „significant improvement over the current management of GBTC“ and has asked Grayscale to „consider it carefully.“

Grayscale, however, has its own plans. The firm intends to convert GBTC into an ETF to raise the price of the fund, though its past attempts to do so have failed due to rejections from the U.S. SEC. Grayscale has also suggested other possibilities, such as a tender offer for up to 20% of outstanding shares, according to recent WSJ reports.

In addition to their proposal, Valkyrie is launching the Valkyrie Opportunistic Fund LP. The fund will take advantage of the discrepancy between GBTC and the NAV to gain profits.

Valkyrie Investments believes that their proposal and fund will be beneficial for all involved, and will help improve the operation of GBTC. It remains to be seen if Grayscale will accept their proposal, or if the company will continue to pursue its own plans.

• The total supply of wallets holding between 0.1 Bitcoin (BTC) and 1 Bitcoin has surpassed 1 million coins, while the collective supply of wallets that hold between 1 BTC and 10 BTC topped 2 million.
• Wallets with 0,1 BTC to 1 BTC collectively own over 1 million coins, with their total BTC supply starting to record a stable increase in late 2013.
• Wallets with 1 – 10 BTC have also broken their own all-time high by surpassing 2 million at the end of November.

As of late December 2020, the total supply of wallets holding between 0.1 Bitcoin (BTC) and 1 Bitcoin has surpassed 1 million coins, while the collective supply of wallets that hold between 1 BTC and 10 BTC topped 2 million. This marks an important milestone in the history of Bitcoin, as the total BTC supply held by these wallets has continued to climb at an exponential rate.

Wallets with 0,1 BTC to 1 BTC have collectively owned over 1 million coins since late 2013. This total BTC supply started to record a stable increase in late 2013, with short exponential growth periods in 2016 and 2018. As of December 29th, the total supply sits at 1.01 million BTC, a remarkable feat in the history of Bitcoin.

Wallets with 1 – 10 BTC have also broken their own all-time high by surpassing 2 million at the end of November. The chart representing the total supply held by these wallets since 2010 demonstrates an upwards spike in late 2011 and has continued its exponential growth since then. This impressive milestone is evidence of the increasing popularity of Bitcoin and blockchain technology, as more and more people are turning to digital currencies as an alternative to traditional forms of payment.

The increasing supply of Bitcoin held by wallets with 0.1 BTC to 10 BTC is a positive sign for the future of the cryptocurrency. As more people continue to invest in Bitcoin and other digital currencies, the total supply is likely to continue to grow, paving the way for a more secure and reliable form of payment.

• The FTX collapse was earth-shattering and big money investors are unlikely to come into the crypto sector until better regulation is in place.
• More Crypto Companies Could Go Bankrupt In FTX’s Wake due to the suspension of customer withdrawals after the FTX failure.
• The crypto industry needs a transparent framework in order to restore confidence and ensure the safety of investors.

The recent collapse of FTX, a popular cryptocurrency exchange, has sent shockwaves throughout the crypto market. The exchange owes nearly $3.1 billion to its top 50 creditors, and much more beyond that. With the collapse of FTX, investors are now left to wonder what could have happened if better regulations were in place.

The lack of regulations in the crypto sector has made it ripe for manipulation and fraud. With the collapse of FTX, investors are now left to wonder if their money is safe. This has created a lack of trust in the industry, and big money investors are unlikely to enter the crypto sector until better regulation is in place.

The collapse of FTX has also caused other crypto companies to go bankrupt. For instance, Genesis Global Capital, a subsidiary of Barry Silbert’s crypto empire Digital Currency Group, suspended customer withdrawals after the FTX failure. As you can imagine, this only served to spook the crypto markets further. Digital Currency Group quickly infused its subsidiary with $ 140 million worth of emergency equity to cover losses.

The FTX collapse could be the beginning of the end for crypto if better regulations are not put in place. The industry needs a transparent framework in order for investors to have confidence in their investments. Without this, investors will be hesitant to enter the market and the crypto sector could suffer long-term damage.

For this reason, it is important for governments and regulatory bodies to put in place regulations that protect investors and provide a safe and secure platform for crypto investments. Only then will the crypto sector be able to fully recover and restore the trust of investors. Until then, the crypto market will remain volatile, and big investors will be hesitant to enter the market.

• Binance experienced steady growth in 2022, including a headcount increase of 7,500 people representing over 100 nationalities and the securing of 14 licenses from 14 different countries.
• The exchange also grew its compliance team to 750 people from 500 and now serves over 120 million users from all over the world.
• CEO Changpeng (CZ) Zhao said Binance was committed to staying user-focused and remaining true to its core values.

Binance, one of the world’s leading cryptocurrency exchanges, experienced steady growth in the past year. As of the end of 2022, the exchange had increased its headcount to 7,500 people representing over 100 nationalities, grown its compliance team to 750 people from 500, and was serving over 120 million users from all over the world.

In addition to growing its user base, Binance also secured 14 licenses from 14 different countries across the globe in 2022, including Abu Dhabi, Dubai, South Africa, France, Italy, Spain, Cyprus, Australia, and New Zealand. This allowed the exchange to operate in over 140 countries and further its commitment to meeting local regulatory requirements.

Binance also increased its security and compliance capabilities by 500% in 2022, with a focus on keeping its user-focused values at the forefront of its operations. CEO Changpeng (CZ) Zhao said in a letter, “Amid the noise that impacts token prices, projects‘ reputations, and the fortunes of individual investors, my goal has been to keep everyone at Binance focused on things that matter the most: building and staying user-focused. I am proud that we remained true to these core values in everything we do.”

The exchange’s steady growth over the past year has shown its commitment to providing a secure and compliant environment for its users. With its headcount, licenses, and security and compliance capabilities increasing, Binance has demonstrated its dedication to providing a safe and reliable platform for its users to utilize.