• A recent study found that El Salvador is the second most interested country in bitcoin and crypto, ranking behind the U.S.
• President Nayib Bukele has been criticized by Salvadorans for his push for bitcoin adoption and the approval of a Bitcoin Law in June 2021.
• Despite criticism, polls have suggested that there is still interest in crypto in El Salvador.

Interest in Bitcoin Remains High in El Salvador

A recent study conducted by Crypto Betting showed that El Salvador is one of the countries with the most interest in learning about bitcoin and its uses, coming second after only the United States. The study examined queries using Google Analytics and the number of bitcoin ATMs around each country to determine rankings, giving El Salvador a grade of 46.19 out of 100 on a scale where higher numbers indicated more interest.

Criticism of President Bukele’s Push for Bitcoin Adoption

President Nayib Bukele has been pushing for increased bitcoin adoption since June 2021 when he approved a law making it legal tender in El Salvador. However, this move has drawn criticism from some within his own country as polls conducted by Simeon Canas University last year found that most people did not think it had improved their personal finances and were generally negative towards its use as legal tender. Similarly, another survey found that over 60% disagreed with its adoption as legal tender instead preferring to keep using the US dollar.

The Building of ‚Bitcoin City‘

Despite this criticism President Bukele is continuing his push for increased bitcoin adoption through programs such as ‚Bitcoin City‘. This city will be built with funds from Volcano Bonds which are yet to be released by government authorities but will be powered entirely by geothermal energy sources once completed.

Remaining Interest Despite Criticism

Although there may be some reservations regarding cryptocurrency usage among citizens, polls suggest that there is still significant interest surrounding cryptocurrencies within El Salvador meaning it remains one of the countries with highest levels of interest worldwide when it comes to issues surrounding crypto assets such as bitcoin.

Conclusion

El Salvador remains an important player in terms of worldwide cryptocurrency usage despite skepticism from some within its own borders due to programs such as ‚Bitcoin City‘ being developed and continued efforts from President Bukele to increase acceptance and usage within his own country.

• Three Russians have been sentenced to strict-regime prison for stealing over a million dollars‘ worth of cryptocurrency from another man.
• The court also ordered them to compensate the victim for the damages.
• Russia is reviewing its regulatory approach towards decentralized cryptocurrencies like Bitcoin.

Crypto Robbers Sentenced in Russia

A court in Omsk, Russia has issued a verdict in a criminal case against three men from Moscow who extorted digital currency from a local resident. Two of them were found guilty of robbery and forgery of documents and the third one of fraud. They are now going to serve between six-and-a-half and nine years in a strict-regime correctional colony, as well as compensate any damage caused to the victim.

Robbery Details

The robbers learned that an Omsk resident owned significant crypto funds and traveled all the way from Moscow to Siberia where they followed him for about 10 days examining his movements and daily routines. On the day of the attack, they stopped him on the street, presented fake IDs and forced him into a car taking away 3 million rubles ($40,000) in cash and made him transfer another 84 million rubles ($1.1 million) in cryptocurrency.

Growing Number of Crypto Crimes Cases

There has been a growing number of cases involving crypto crimes prosecutions in Russia recently, with two residents of Tomsk being tried for „large-scale robbery“ involving theft of almost $5 million worth of crypto currency from a miner back in February 2021. In July 2021, masked armed men robbed a large crypto mining facility near Moscow too.

Russia’s Regulatory Approach Towards Cryptocurrency

Given the invasion sanctions imposed by other countries over Ukraine, Russia is currently mulling over its regulatory approach towards decentralized cryptocurrencies like bitcoin, with efforts to adopt rules for related activities and transactions underway through bills under review by their Parliament at present time. Cryptocurrency has been previously recognized as property by Russian authorities nonetheless.

Conclusion

Although there has been an increase on cases prosecuting people responsible for crypto-related crimes lately in Russia, they have yet to implement proper regulations on cryptocurrencies or establish clear guidelines regarding their usage within their territory at this moment

• Liquidators of the now defunct bitcoin trading platform, Mirror Trading International have so far used approximately $4.2 million on expenses such as lawyers‘ or consultants‘ fees.
• Between Jan. 23, 2023, and the date of their appointment, liquidators claimed to have recovered approximately $770,000 which belonged to MTI.
• According to a Mybroadband report, a total of approximately $6.1 million has so far been disbursed while a further $7.3 million is earmarked for liquidators‘ fees.

Liquidators Spend Over $6 Million on Lawyers and Investigators

Liquidators of the now defunct bitcoin trading platform, Mirror Trading International (MTI) have so far used approximately $4.2 million on expenses such as lawyers‘ or consultants‘ fees since their appointment in January 2021. Between Jan. 23, 2023, and the date of their appointment, liquidators claimed to have recovered approximately $770,000 which belonged to MTI.

Liquidator Fees

According to a Mybroadband report, a total of approximately $6.1 million has so far been disbursed while a further $7.3 million is earmarked for liquidators‘ fees in connection with the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI). In April 2021, it was reported that more than $70 million was raised from selling 1,281 bitcoins belonging to MTI; later that month another report said more than 8,000 BTC belonging to MTI had been „traced“ and that investigators were on track to finding more assets attributed to MTI’s masterminds who fraudulently acquired over half a billion dollars worth of funds from investors worldwide in 2020 alone – according to blockchain intelligence firm Chainalysis – making it one of the biggest crypto scams ever seen in history according to Bitcoin News .

Recoveries

Between Jan 23rd-the day they took control of MTI assets-liquidators have so far recovered around $770k however they are expecting an „exponential increase“ in recoveries from net winners though less certain about growth rate for expenditure incurred for legal/consulting services related thereto .

FATF Grey List Designation

In other news related African crypto policy , Kenya’s Senate is ready engage Central Bank & discuss issues related FATF ‘Grey List’ designation after recently adding South Africa its list countries facing money laundering threats . This follows Ceffu ( formerly Binance Custody ) announcement that it will be custodian Flynt Fin’s digital asset portfolio moving forward this year

Conclusion

The financial implications surrounding the collapse of Mirror Trading International remains substantial with significant liquidity still waiting be returned investors across globe while crypto policy discussions are beginning take shape Kenya & South Africa amongst others

• The Bank of Zambia and the country’s securities regulators are testing the technology to regulate cryptocurrencies.
• According to Felix Mutati, cryptocurrency is a revolutionary technology that embodies a future his country desires to achieve.
• Zambia hopes to use cryptocurrencies to advance its financial inclusion agenda as well as launch its own central bank digital currency (CBDC).

Testing Technology for Cryptocurrency Regulation in Zambia

The Bank of Zambia and the country’s Securities and Exchange Commission are currently testing the technology to regulate cryptocurrencies, according to a statement by the Minister of Technology and Science Felix Mutati. He believes that this “revolutionary technology” can be used to help the nation achieve an “inclusive digital economy”.

Cryptocurrency As A Driver For Financial Inclusion

Mutati further noted that once this envisioned digital payments infrastructure is in place, he foresees a future in which cryptocurrency acts as both the „driver for financial inclusion“ as well as the „change-maker for Zambia’s economy“. Along with using cryptocurrencies, Zambia hopes to also achieve this through launching its own central bank digital currency (CBDC).

Bank Of Zambia’s Stance On Cryptocurrencies

Despite previously discouraging the use of cryptos such as Bitcoin, Mutati’s remarks suggest that President Hakainde Hichilema’s government is now embracing it. Moreover, he claimed that Zambia has established itself an attractive investment destination for many investors.

Creating An Ideal Investment Environment

In order for Zambia to become Africa’s leading technological hub, it needs to put in place certain infrastructures needed for this goal. This includes creating an ideal investment environment and providing investors with access to cutting-edge technologies like blockchain and cryptocurrency markets.

Conclusion

With all these efforts being made by officials, there appears to be a bright future ahead when it comes to integrating cryptocurrency into daily life within Zambian society.

• Bitcoin (BTC) and Ethereum (ETH) prices continued to trend lower on Saturday, with ETH nearing a one-month low.
• Overall sentiment remained mostly bearish, with the global cryptocurrency market cap trading 0.96% lower, as of writing.
• BTC/USD and ETH/USD both failed to stay above their interim floors, pushing prices closer to a three-week low for bitcoin, and a month-low for ethereum.

Bitcoin Technical Analysis

Bitcoin (BTC) continued its downward descent on Saturday, as prices continued to hover near a three-week low. Following a high of $21,919.33 on Friday, BTC/USD bottomed out at a low of $21,539.39 earlier in the day. The 14-day relative strength index (RSI) moved away from a recent floor at 42.00 As of writing, the index is currently tracking at 46.35 with the next visible resistance level at the 50.00 mark. However momentum appears to be mostly bearish with the 10-day (red) moving average (MA) approaching an downwards cross with its 25-day (blue) counterpart.

Ethereum Technical Analysis

Etheruem (ETH) fell deeper into bearish territory on Saturday nearing a one-month low in the process . ETH/USD fell to an intraday low of $1,504.83 to start the weekend which comes after failing to stay above an interim floor at $1,550 . As a result of today’s drop Ethereum was trading at its weakest point since mid January when it dropped to 1 449 . The 10 day MA has lost all previous upwards momentum while the RSI continues tracks below 47 00 instead hovering at 6 week low 45 43 . As of writing ETH is slightly higher and currently tracking at 1523 17 however if it fails to climb beyond 47 00 zone , prices could move lower .

Global Cryptocurrency Market Cap Down

Overall sentiment remained mostly bearish , with global cryptocurrency market cap trading 0 96 % lower as of writing . This shift in sentiment has pushed moving averages lower across both Bitcoin and Ethereum charts , indicating further downside risk ahead for cryptocurrencies over coming weeks .

Analysis & Conclusion

What is behind this recent shift in market momentum? It appears that overall economic uncertainty coupled with increasing regulations have caused investor confidence in cryptocurrencies drop over past few weeks . Despite this , some investors see current levels as attractive entry points for long term investments given expected growth within sector over coming months once vaccine rollouts gain further traction worldwide allowing economies reopen fully again later year .

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• Bitcoin (BTC) retreated from a recent high, falling lower ahead of the U.S. non-farm payrolls (NFP) report on Feb. 3.
• Ethereum (ETH) also fell from its five month peak, as market volatility increased in anticipation of the NFP release.
• Both Bitcoin and Ethereum were unable to break out of key resistance levels, with the 14-day relative strength index (RSI) failing to breach 74.00 and 63.00 respectively.

Bitcoin Retreats Ahead of US Non-Farm Payrolls Report

Bitcoin (BTC) saw its price retreat from a six month high on Feb 3rd, as bears reentered the market ahead of today’s US non-farm payrolls (NFP) report which is expected to come in at 185,000 jobs. Following a move above $24,000 level on Thursday sentiment shifted as traders prepared for the pivotal report which could shake up market sentiment significantly if results come in higher or lower than expected.

Ethereum Also Falls From Five Month Peak

Ethereum was also hit by bearish pressure giving up a five month peak in the process as well as ETH/USD dropping to an intraday low of $1,634 earlier today after surging to a peak of $1,704 the day before which was its highest point since September 13th 2020.

14 Day Relative Strength Index Indicates Market Consolidation

The 14-day relative strength index (RSI), failed to break out of an established ceiling at 74 indicating that BTC bulls were unable to sustain their breakout while Etherum’s RSI failed to break out at 63 signaling indecision between buyers and sellers with neither side being able capture control over market momentum yet .

Non-Farm Payroll Results Could Shake Up Market Sentiment

The highly anticipated US non-farm payrolls result are due later today and could shape crypto markets should it come out higher or lower than expected . The same is true for other indices such has unemployment rate , hourly earnings etc .

Market Outlook

For now however ,the outlook remains uncertain with both Bitcoin and Ethereum tracking below their respective RSI resistance levels . A clear direction may emerge following the release of today’s NFP report but until then , traders should remain cautious when entering positions

• Tesla’s Q4 2022 balance sheet shows the company’s bitcoin holdings worth $184 million.
• Tesla did not sell any digital assets in the fourth quarter despite the crypto winter and contagion in the crypto ecosystem.
• Tesla’s digital assets comprise mostly of bitcoin, with a small amount of dogecoin (DOGE).

Tesla Inc. (Nasdaq: TSLA) recently released its earnings results for Q4 2022, which showed the company’s digital assets valued at $184 million. The electric car company’s balance sheet revealed its bitcoin holdings worth $184 million, down from $218 million in the previous quarter. No digital assets were bought or sold during the fourth quarter, despite the crypto winter and contagion in the crypto ecosystem.

Tesla’s digital assets comprise mostly of bitcoin, with a small amount of dogecoin (DOGE). The reduced value of its crypto holdings is due to fluctuations in the price of BTC, which led to an impairment charge of $34 million. At the time of writing, bitcoin is trading at $23,087; it fell from about $47.8K to around $16.6K during 2022. Tesla has not revealed how many bitcoin it owns but an industry estimate suggests that it is hodling about 9,720 BTC.

Tesla bought $1.5 billion worth of BTC in early 2021 and has not purchased any more since. However, the company dumped about 75% of its BTC holdings in the second quarter of last year. CEO Elon Musk explained at the time that Tesla sold its BTC in order to maximize its cash position due to the uncertainty as to „when the Covid lockdowns in China would alleviate.“

Besides bitcoin, Tesla also holds a small amount of dogecoin (DOGE) which it acquired from selling some merchandise for the meme cryptocurrency. The company began accepting payments in dogecoin for some merchandise in January last year.

Tesla’s Q4 2022 balance sheet shows the company’s digital assets comprising mostly of bitcoin, with a small amount of dogecoin. Despite the crypto winter and contagion in the crypto ecosystem, Tesla did not sell any digital assets in the fourth quarter of 2022 and its bitcoin holdings remain worth $184 million.

• In 2022, CoinEx amassed 4.5 million registered users, providing services in 15 languages throughout 200+ countries and regions.
• CoinEx set new records in terms of trading volume, the number of cryptos listed, product & service improvement, brand promotion and upgrade, charity, and investment in the last year.
• In 2022, the cumulative Spot and Futures trading volume on CoinEx reached $243.3 billion, and the daily trading volume reached $2.3 billion.

CoinEx, the global crypto exchange, had a remarkable year in 2022. They amassed 4.5 million registered users and provided services in 15 different languages, including 200+ countries and regions. CoinEx set new records in terms of trading volume, the number of cryptos listed, product & service improvement, brand promotion, upgrade, charity, and investment. The cumulative Spot and Futures trading volume on CoinEx reached $243.3 billion, with a daily trading volume of $2.3 billion. Value-added services, such as the highest average daily APY in the AMM market, peaked at 96.08%. CoinEx also saved over $4.22 million in trading fees for all their VIP users, through fee discounts and CET deductions.

CoinEx adhered to the CET value agreement by continuing to implement the daily repurchase and monthly destruction policies. The exchange also built a bridge between cryptocurrency and traditional finance, launching the world’s first crypto card – the CardPlus. This card allows users to convert their crypto into fiat currency and use it in over 200 countries and regions.

In addition, CoinEx also launched various products, such as the CoinEx Earn, CoinEx Chain, DEX, and the perpetual contract. These products have further improved the user experience and enabled users to have better access to digital assets.

CoinEx also put a lot of effort into charity, launching the “CoinEx Charity” that has provided over $500,000 in donations to children in poverty-stricken areas.

Overall, 2022 has been an extraordinary year for CoinEx, with them achieving many new milestones and records. They continue to strive to provide better products and services, and to bridge the gap between cryptocurrency and traditional finance.

• Shiba Inu (SHIB) surged to a multi-month high on Wednesday, with prices rising as much as 17%.
• Polkadot (DOT) continued to trade near a two-month high, as the token remained near a key resistance level.
• Prices of both tokens were impacted by the release of U.S. retail sales figures, which fell by 1.1% in December.

On Wednesday, the cryptocurrency market saw two of its biggest tokens, Shiba Inu (SHIB) and Polkadot (DOT), experience some significant price movements. SHIB surged to a multi-month high, with prices rising as much as 17% in today’s session, while DOT continued to trade near a two-month high, as the token remained near a key resistance level.

SHIB/USD rallied to an intraday peak of $0.00001289, which marked its strongest point since early November, when prices last collided with a ceiling at the $0.00001290 level. This was also accompanied by a rebound in the 14-day relative strength index (RSI), which rose from a support point at 76.00 to a level of 80.31. However, these gains have since been wiped out, with the meme coin now trading at $0.0000124.

Similarly, DOT/USD jumped to a high of $6.19 earlier in the day, before selling off following the release of U.S. retail sales figures. Sales in the world’s largest economy fell by 1.1% in December, more than the decline of 0.8% many had expected. As a result of the news, earlier gains have now been erased, with the price currently trading at $5.69. The RSI has also given way, with price strength falling below a floor of 70.00, and currently tracking at 64.25. Should this reversal worsen, DOT could be heading to a floor of $5.00.

Overall, it was an eventful day for Shiba Inu and Polkadot, as the two tokens continue to remain volatile. Despite the day’s losses, both tokens remain close to their respective two-month highs, indicating that further price movements could be in store in the near future.