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Emphasizing progress and challenges, the crypto review 2023 details crypto’s successes, failures, and notable legal and regulatory hurdles. The crypto market review 2023 reflects a transformative phase for crypto, with Bitcoin (BTC) experiencing over a 100% increase year-to-date (YTD) amid global economic challenges. This year, the number of crypto users swelled to around 575 million. Innovations weren’t scarce either, particularly in domains like stablecoins and blockchain-based social media.  While traditional stablecoins like USDT and USDC continued to dominate, platforms like friend.tech led the surge in socialfi, marking a new chapter in digital interaction. Although the crypto industry overview shows a dip in fundraising, down to $7.96 billion, it also reveals a sustained interest in derivatives trading over spot trading.  Security remained a critical focus, with a decrease in the total losses from hacks compared to previous years, yet it’s still a sign...

The legal team of Terraform Labs and its founder, Do Kwon, has drawn attention to a potential sanction threat against the SEC by a Utah federal judge. This development surfaced in the Southern District of New York Court, presided over by Judge Jed S. Rakoff. The case has been under intense scrutiny, primarily centered on allegations against Terraform Labs regarding its blockchain and cryptocurrency operations. The recent twist, however, shifts some focus onto the SEC. Terraform Labs’ counsel informed Judge Rakoff of a separate case in Utah, in which Judge Robert J. Shelby hinted at sanction ing the SEC for misleading conduct in its case against Digital Licensing Inc. You might also like: Bitcoin surges past $42k in a year-long rally Second shoe drops (on SEC?) – just now in SEC v. Terraform Labs / Do Kwon case in SDNY, defendant have formally raised to Judge Rakoff the Utah federal judge threatening to sanction the SEC for misleading, in Debt Box / Digital L...