Mining equipment maker Canaan says its fourth-quarter revenue fell 60%.

Total computing power sold in Q4 decreased by 45.8% to 1.9 million Th/s from 3.5 million Th/s in Q3.

Canaan saw a decrease of 82.1% from Q4 2021.

The company blamed low demand for mining hardware as well as the lower price of bitcoin during the reporting period.

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Mysten Labs (team behind SUI) partners with Alibaba Cloud to enhance Web3 User Experience.

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Addresses associated with the U.S. government transferred out 49,000 $BTC ($1.08B) seized from the Silk Road hacker 5 hrs ago.

Among them, 9,826 $BTC ($217M) was transferred to #Coinbase, and 39,175 $BTC ($867M) was transferred to 2 new addresses.

https://mempool.space/address/bc1qmxjefnuy06v345v6vhwpwt05dztztmx4g3y7wp

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President Biden to propose a 5.2% federal pay increase, WAPO reports.

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Vitalik Buterin nets nearly $700,000 as billionaire sells All his free memecoins.

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Bank of Canada Holds Interest Rates Steady, Citing Slowdown in Inflation.

The central bank also pointed to data on economic activity stalling in the fourth quarter.

https://www.wsj.com/articles/bank-of-canada-holds-interest-rates-steady-citing-slowdown-in-inflation-c02aa8cd

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Coinbase announces Wallet as a Service. Now any company can seamlessly onboard their users to web3.

Coinbase expands its web3 business solutions, so any company can build fully customizable onchain wallets for their customers.

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President Biden calls to double capital gains tax from 20% to 39.6%.

This would mark the highest capital gains tax rate since 1978.

Corporate taxes would also rise from 21% to 28%.

Meanwhile, corporations just posted their worst quarterly earnings since the pandemic.

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Voyager keeps selling assets!

Voyager sold $56M worth of assets in the past 24 hours, including:

- 27,255 $ETH ($42M)
- 11M $VGX ($6.3M)
- 400B $SHIB ($4.4M)
- 160,000 $LINK ($1M)

And received 33.7M $USDC from Wintermute Trading, Binance US and Coinbase.

Voyager currently holding $757.8M worth of assets, including:

- 459.8M $USDC
- 102,306 $ETH ($157.7M)
- 122.4M $VGX ($61.7M)
- 4T $SHIB ($44.2M)
- 1.28M $LINK ($8.5M)
- 8.95M $MANA ($4.9M)
- 6.6M $FTM ($2.4M)
- 454,805 $APE ($2M)
- 3.44M $SAND ($2M)
- 3.9M $ENJ ($1.55M)

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In just the span of 1 month, over 100k Bitcoin Ordinals were inscribed in a parabolic NFT minting frenzy that has brought attention to Bitcoin in a way it hasn’t seen in years. Ordinal theory ascribes a unique number to each satoshi and enables inscribing of metadata to each satoshi, functionally turning them into “NFTs”. The metadata can include pictures, gifs, and videos with a max size of 4MB, the upper limit for a Bitcoin block. Users inscribing metadata to specific satoshi units can fundamentally change Bitcoin's fungibility.

This added functionality has reignited the demand for Bitcoin block space. The average size of a block has increased from about 1.2 MB to 2 MB since the start of the year. Ordinals could be a godsend in ensuring the sustainability of the Bitcoin blockchain. As users pay to inscribe metadata, miners find a new, much-needed stream of revenue.

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Gate Group announces plans to launch its new Visa debit card in Europe.

https://www.gate.io/ru/article/29907

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Celebrating Bitcoin $BTC reaching $111 ATH back in 2013. A historic video.

@bitcoins

Justin Sun's two exchanges officially merged. The Huobi employee letter shows that Poloniex departments like assets, marketing & operations, product design, liquidity, customer service, compliance, etc. will be officially merged into the Huobi.

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New York says Ethereum is a security in KuCoin lawsuit.

https://ag.ny.gov/press-release/2023/attorney-general-james-continues-crackdown-unregistered-cryptocurrency-platforms

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President Biden calls for a 30% tax on all electricity used to mine Bitcoin and cryptocurrency.

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Liquidity is disappearing all around the board:

1. S&P 500 lost $600 billion in 2 hours

2. Crypto markets down $40 billion today

3. Four biggest US banks down $50 billion today

4. Bond markets trading like meme stocks

All the buyers are gone as inflation is here to stay.

Telegram | Twitter

CryptoPunk #9682 was scooped up for 72.72 ETH ($111,600) earlier today. On-chain data show the buyer swapped 527,281 goerli ether for ETH to fund the purchase.

Here’s the fun part. Goerli is an Ethereum test network. Developers use testnets to run tests on their smart contracts or applications before deploying them on the main network. Tokens on a testnet are supposed to be free because they typically don't have market value.

A shortage of goerli ether has, however, created a situation in which developers began to purchase the testnet token, creating a market for goerli ether.

The emergence of a monetized testnet market has led Ethereum developers to state that they will gradually sunset goerli.

But for now, 1 goerli ETH is worth $0.23 and has traded as high as $1.69.

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🤷‍♂️

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Must watch with 🔊

{by Coinbase}

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US unemployment rate increases to 3.6%.

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