• Doodles, a NFT collection, has acquired Golden Wolf, an Emmy-nominated animation studio.
• The acquisition will help Doodles to tap into new types of content, such as storytelling, world building and character development.
• The deal will also bring Golden Wolf’s business into markets beyond animation, such as fashion and music.

Doodles, a whimsical non-fungible token (NFT) collection, has made a major move in the entertainment world with the acquisition of Emmy-nominated animation studio Golden Wolf. The acquisition was announced on Monday and terms of the deal were not disclosed.

Doodles and Golden Wolf had previously worked together on Doodles‘ announcement for Doodles2 at NFT NY in 2022. This acquisition will help Doodles to tap into new types of content, such as storytelling, world building, and character development. It will also bring Golden Wolf’s business into markets beyond animation, such as fashion and music.

Jordan Castro, the founder of Doodles, commented on the acquisition, saying that it “marks a brand new chapter for Doodles as we continue to expand the franchise.” He believes that the acquisition will help Doodles to create “storytelling without constraints & AI (artificial-intelligence) animation generation R&D.”

Ingi Erlingsson, the founder of Golden Wolf, expressed his excitement over the deal and said that he is „over the moon to have found a team that shares our ambition and love of creativity.” He believes that the acquisition will help Golden Wolf reach new heights in terms of creative expression, and he looks forward to what the future holds.

The acquisition of Golden Wolf is a major move for Doodles, and the company hopes that it will help them to become a major player in the entertainment world. With the help of Golden Wolf’s talented team, Doodles will be able to create amazing stories and animations that will captivate audiences all around the world.

• Digital asset traders are starting to handicap various market scenarios ahead of Ethereum’s upcoming „Shanghai“ upgrade in March.
• Over 16 million ether, worth over $22 billion, have been deposited into the Beacon Chain staking contract.
• Brian Mosoff, CEO of Ether Capital, discusses the milestone of the second-biggest blockchain and the state of competing Layer 1s.

Digital asset traders have begun to place their bets on what Ethereum’s upcoming „Shanghai“ upgrade will bring to the crypto markets. This is due to the success of Ethereum’s historical shift last year to a proof-of-stake network – known as „the Merge“ – which was one of the biggest stories of the year in crypto markets. As such, the anticipation for what will come next has been high, and traders are now starting to speculate on the outcomes of the Ethereum upgrade.

Etherscan data shows that over 16 million ether, worth over $22 billion, have been deposited into the Beacon Chain staking contract. This is a testament to the success of the Merge, and a sign of how much the Ethereum network has grown in the past year. Brian Mosoff, CEO of Ether Capital, recently discussed the milestone of the second-biggest blockchain and the state of competing Layer 1s. He believes that Ethereum is well-positioned to become the dominant blockchain, and that the upcoming Shanghai upgrade will only serve to strengthen its position in the market.

Mosoff also believes that the Shanghai upgrade will bring a number of improvements to the Ethereum network, including increased transaction speed and scalability, as well as a range of new features and capabilities. Additionally, he believes that the upgrade will make the network more secure, and that it will open the door for new use cases and applications.

Overall, the anticipation for the upcoming Ethereum upgrade is high, and traders are already placing their bets on what the outcome will be. With the Merge being such a success, many are expecting that the Shanghai upgrade will be just as successful, if not more. The fate of Ethereum and the future of the blockchain industry will be determined in March when the upgrade is complete.

• Huobi, a crypto exchange, has confirmed a 20% headcount reduction.
• This comes after reports of Huobi requiring employees to take their salaries in stablecoins, closing internal staff communication channels, and outflows of $64 million in the past 24 hours.
• Justin Sun, Huobi’s adviser, has denied the Huobi layoffs.

The crypto world has been abuzz with news of Huobi, one of the world’s largest crypto exchanges, announcing a 20% reduction in its employee base. This news comes a week after reports of Huobi requiring its employees to take their salaries in stablecoins and closing internal staff communication channels to quell a rebellion.

The news of the layoffs has caused a lot of market concern, with outflows from the exchange totaling $64 million in the past 24 hours, according to Nansen. This has had a significant effect on the price of Huobi’s exchange token, as well as its trading volume, which has dropped by 23%.

In an attempt to calm the markets, Huobi adviser Justin Sun, who has been representing the company publicly, denied the Huobi layoffs. However, his words seemed to have little effect, as the news of the layoffs caused a further sell-off in the exchange’s token.

The “Hash” panel discussed the recent news, pointing out that Huobi is the latest in a string of centralized exchanges hit by the collapse of FTX. It remains to be seen how Huobi will fare in the coming weeks and months, as the market continues to be wary of its future.

With the crypto market continuing to be volatile, many are watching Huobi closely to see how it will navigate the choppy waters. It is clear that the exchange still has a lot of work to do to restore its reputation and rebuild investor confidence. Until then, the crypto world awaits further news from Huobi with bated breath.

• Cryptocurrency exchange Kraken announced it will be exiting Japan at the end of January 2021.
• Bitcoin miner Argo Blockchain has avoided filing for bankruptcy protection with the help of a new $35 million loan from Mike Novogratz’s crypto-focused financial-services firm.
• Former FTX CEO Sam Bankman-Fried borrowed hundreds of millions of dollars from Alameda Research, the trading firm he owned, to purchase his stake in trading app Robinhood Markets.

Cryptocurrency exchange Kraken has announced that it will be exiting Japan as of January 31st, 2021 due to “current market conditions in Japan in combination with a weak crypto market globally.” Kraken users in the country have until the end of next month to withdraw their fiat and crypto holdings, with the option of transferring crypto to another wallet or wiring Japanese yen to a local bank.

Meanwhile, Bitcoin miner Argo Blockchain has managed to avoid filing for bankruptcy protection with the help of a new $35 million loan from Mike Novogratz’s crypto-focused financial-services firm. The miner was in a precarious situation when a deal for $27 million in funding fell through in October. However, it was able to bolster its balance sheet and avoid bankruptcy after agreeing to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital for $65 million.

Former FTX CEO Sam Bankman-Fried also made headlines recently for reportedly borrowing hundreds of millions of dollars from Alameda Research, the trading firm he owned, to purchase his stake in trading app Robinhood Markets. Bankman-Fried and FTX co-founder Gary Wang reportedly borrowed the money from Alameda Research, which is also a major shareholder in FTX. The affidavit provided to a Caribbean court before Bankman-Fried’s arrest states that the money was used to purchase Robinhood shares and that the transaction was approved by the board of Alameda Research.

These recent developments in the crypto space demonstrate the ever-evolving nature of the industry. From major players like Kraken exiting Japan to large investments being made in mining facilities and trading apps, the crypto landscape is constantly shifting and adapting to meet the demands of the market. It will be interesting to see how these moves affect the industry in the long run.

• Ethereum completed its radical shift to a more energy-friendly system for powering its network in 2022.
• Concerns around censorship and record-shattering hacks on Ethereum-linked infrastructure were major themes of the year.
• The Merge, Ethereum’s massive, years-in-the-making upgrade, marked a massive reduction to the network’s energy footprint, but also led to charges that it is becoming too centralized.

In 2022, Ethereum saw a number of significant milestones and events. The year marked a radical shift in Ethereum’s network, as the blockchain finally completed its transition to a more energy-friendly system for powering its network. This transition, referred to as the Merge, was the result of years of planning and was a major reduction to the network’s energy consumption.

However, the year was not without problems. Concerns around censorship, as well as record-shattering hacks on Ethereum-linked infrastructure, were at the forefront of many discussions. Despite the Merge being a major step forward, it was met with criticism from some who argued that it was leading to an overly centralized network. Additionally, the Merge failed to spur the long-hoped-for bump in the price of ether (ETH), the chain’s native currency, further complicating the situation.

The Merge was the most significant event for Ethereum in 2022, but it was far from the only one. The year also saw a number of other changes and upgrades, such as the introduction of new tools to support developers, as well as the launch of Ethereum 2.0, which is designed to address the scalability issues that have been plaguing the network for some time.

Overall, Ethereum had a tumultuous yet successful year in 2022. The Merge marked a major shift in the network’s architecture, while other upgrades and changes have put the blockchain on a path to becoming a global computer and decentralized financial system. Despite the difficulties, Ethereum has made impressive strides in the past year and appears to be on track to continue its steady progress in the years to come.

• Kraken has announced that it will be exiting Japan and deregistering from the Financial Services Agency as of Jan. 31.
• The decision was prompted by „current market conditions in Japan in combination with a weak crypto market globally,“ the company said in a blog post on Wednesday.
• Kraken users in the country have until the end of next month to withdraw their fiat and crypto holdings, with the option of transferring crypto to another wallet or wiring Japanese yen to a local bank.

Kraken, a major cryptocurrency exchange, has announced that it will be exiting Japan and deregistering from the Financial Services Agency as of Jan. 31. This decision was made in response to „current market conditions in Japan in combination with a weak crypto market globally,“ according to a blog post released by the company on Wednesday.

Kraken’s Japan-based customers will have until the end of next month to withdraw their fiat and crypto holdings. They have the option of transferring their crypto to another wallet or wiring Japanese yen to a local bank. The company is encouraging its customers to do so as soon as possible in order to avoid any potential delays in the withdrawal process.

The decision to withdraw from Japan follows the departure of Kraken’s co-founder and former CEO, Jesse Powell, in September. He was replaced by Chief Operating Officer Dave Ripley. In November, Kraken took the unfortunate decision to cut 30% of its global workforce in response to the continuing stagnation of the crypto market, following the collapse of rival exchange FTX.

Kraken is now looking to prioritize resources and investments in order to ensure the long-term stability of the exchange. It is hoped that this decision will enable the company to continue providing quality service to customers without the distraction of attempting to remain operational in Japan.

Bullet Points
• Prices for Bitcoin remained largely frozen near the levels they held for the past week.
• CoinDesk’s Chief Insights Columnist David Z. Morris wrote about the seriousness of crypto exchange giant FTX CEO Sam Bankman-Fried’s offenses.
• Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.

Cryptocurrency prices remained largely frozen on Tuesday, with Bitcoin drifting lower but not by much. The largest cryptocurrency by market capitalization was recently changing hands at $16,700, off 1.3% over the past 24 hours but near its most recent support just under $17,000. BTC’s price has remained resilient over the past two months, despite the widely-reported market turbulence.

As the year nears its end, CoinDesk is revisiting some of the most impactful stories from the past year. One such story was the implosion of crypto exchange giant FTX, which less than a month after a CoinDesk story led to the investigation of its CEO Sam Bankman-Fried. The U.S. Department of Justice subsequently charged Bankman-Fried with wire fraud and other alleged crimes. After posting bail, he is confined to his parents California home except to exercise, and must wear a tracking device.

To keep up with the latest news and insights from the crypto world, be sure to check out CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Sign up for First Mover, CoinDesk’s daily newsletter, for the latest moves in crypto markets in context.

• Bitcoin held steady over the Christmas holiday weekend, trading at about $16,900.
• Most other major cryptos were flat, with a slight green tint.
• Investors largely ignored crypto and the macroeconomic uncertainties this year.

It’s been a tumultuous year for the cryptocurrency market, with prices soaring to unprecedented heights before crashing back down. This Christmas holiday weekend, however, investors largely ignored crypto and the macroeconomic uncertainties that have plagued the world in 2022, with Bitcoin holding steady at about $16,900.

Most other major cryptos were also flat, though they were tinted more green than red. Ethereum was trading at slightly over $1,200, mirroring Bitcoin’s flat trading of the past three days. This indicates investors’ belief that the cryptocurrency market has stabilized somewhat, and that prices are prime to start rising again in the near future.

It’s likely that Bitcoin and other cryptos will continue in the same vein during the year’s final days, given business’ historical, end-of-year slowdown. Edward Moya, senior market analyst for foreign-exchange market maker Oanda, noted that Bitcoin “looks like it might be finding a home between the $16,000 and $17,000 zone.”

Though the cryptocurrency market has been volatile this year, the past few weeks have seen prices remain relatively stable. This has led many investors to believe that the market has now reached a point of equilibrium, and that prices are prime to start rising again in the near future.

In the meantime, investors are taking a more cautious approach to the cryptocurrency market. Columnist David Z. Morris argued in a column last week that investors’ growing uncertainties about crypto’s future will root out careless speculation and refocus attention on “good deals and ideas.”

It’s clear that the cryptocurrency market is still trying to find its footing after a tumultuous year. But the steady prices of Bitcoin and other cryptos over the Christmas holiday weekend are promising signs that the market is beginning to stabilize, and that prices will soon start to rise again.

• Mythical Games has filed a lawsuit against three former executives for allegedly stealing $150 million from the company.
• The lawsuit accuses Chris Ko, Matt Nutt and Rudy Koch of breaching fiduciary duty and fraud.
• Mythical is seeking the return of the stolen funds, as well as compensatory and punitive damages.

Mythical Games has taken legal action against three of its former executives, Chris Ko, Matt Nutt and Rudy Koch, accusing them of stealing $150 million from the company. The lawsuit, filed on Thursday, alleges that the executives breached their fiduciary duty and committed fraud while they were employed by the firm.

According to the complaint, Ko, Nutt and Koch were tasked with acquiring investors for Mythical’s venture capital wing, Mythical Ventures. After they each announced their departure from the company in November last year, they announced that they had raised funds from Cypher Capital – a lead investor they had been working with to obtain capital for Mythical Ventures.

Nate Nesbitt, head of communications at Mythical, said that the company had taken the legal action to protect its intellectual property and corporate assets. “It was necessary to take these steps to rectify this situation and protect the company’s corporate interest, as is our duty to our employees and investors,” he said.

The lawsuit is seeking the return of the stolen funds, as well as compensatory and punitive damages. Mythical is accusing Ko, Nutt and Koch of fraud and breach of contract in ten counts. In addition, the firm is also asking for a restraint against the use of the funds.

Last year, Mythical raised $150 million in a Series C round led by crypto VC Andreessen Horowitz (a16z). However, the company had to let go 10% of its staff last month due to the current crypto winter. Fenix Games, the firm founded by the three executives, did not respond to CoinDesk’s request for comment by the time of publication.

• Sam Bankman-Fried was released from federal court on Thursday after posting a gargantuan, unprecedented „$250 million bond“.
• The „$250 million bond“ was actually no cash at all – the only collateral pledged was his parents’ Palo Alto home, worth $4 million.
• The $250 million figure was not based on cash or collateral, but instead was a „risk assessment“ calculation by the court.

Sam Bankman-Fried, an internationally renowned entrepreneur and investor, walked out of federal court on Thursday a free man. His release was made possible by a gargantuan, unprecedented „$250 million bond“ – an astronomical figure that made headlines all around the globe.

In court, Assistant U.S. Attorney Nicholas Roos described the figure as the „largest ever“ pretrial bond. But, as it turns out, there is less than meets the eye in this „$250 million bond.“ In fact, there is a lot less.

The typical federal case requires a bail bondsman to charge between 10%-15% of the amount in cash to issue a surety bond or „bail bond.“ In the case of Bankman-Fried’s astronomical bond, 15% of $250 million would be $37.5 million. But Bankman-Fried did not pay that amount in cash – he paid nothing. Zero.

Alternatively, a defendant, or someone on their behalf, may pledge collateral in the full amount of the bond. In Bankman-Fried’s case, that would have meant a benefactor having to step up and pledge property worth $250 million. But that did not happen. Instead, Bankman-Fried’s parents promised to pledge as collateral their Palo Alto, California, home, which is rumored to be worth $4 million. And that is the full extent of the collateral pledged to guarantee the $250 million bond.

So where did that $250 million figure come from? It was not based on cash or collateral, but instead was a „risk assessment“ calculation by the court. The court determined the risk posed by Bankman-Fried and set the bond amount accordingly.

Fortunately for Bankman-Fried, his parents were able to come to the rescue and pledge their home as collateral. He is now out of jail and on house arrest, living under the roof of the Palo Alto home. He will remain there as his case makes its way through the court system.