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Discover the excitement and rewards that await you at Stake.com with deposit bonus!Crypto Market UpdateTable of ContentsCrypto Market UpdatesBitcoin ETF Speculation Sparks Market FrenzyBlackRock Cuts Bitcoin ETF Fees, Influencing CompetitorsIndia's App Store Blocks Major Crypto ExchangesEther's ETF Hopes Boost Price and Ecosystem TokensGlobal Crypto DevelopmentsRipple Labs' Bold Buyback and Strategic ShiftHong Kong Asset Managers Eye Spot Crypto ETFsTurkey Readies Crypto Regulation for FATF EvaluationExchange and Platform NewsPolygon's Verify Platform Tackles AI Content FraudArbitrum's Xai Gaming Network Launches with AirdropRegulatory and Legal UpdatesCelsius Seeks Fund Return from Creditors Post-BankruptcyRichard Heart Counters SEC's Fraud AllegationsCrypto Community and TechnologyEvmos Co-founder Returns Tokens to Stabilize NetworkKava Blockchain Adopts Fixed Supply in Major UpgradeCosmos Hub Community Votes on Inflation ReductionBitcoin NFT Proposal Sparks Heated Developer DebateSEC's Fake Tweet NFT, Price Drop and ScamsTwitter Removes NFT Profile Picture Feature Bitcoin ETF Speculation Sparks Market FrenzyBitcoin's value surged to $48,000 due to a false SEC tweet about an approved Bitcoin ETF, then dropped sharply to under $45,000, before coming back to above $46,000. The SEC found its social media was hacked, sparking concerns about its cybersecurity. Senators demanded investigations and explanations. Bitcoin's market reacted dramatically to the news, with $2 billion worth of Bitcoin moving to exchanges. The SEC's decision on spot Bitcoin ETFs is awaited. Miners are offloading holdings, and institutional buying activity on Coinbase is rising. Traders are cautious, expecting potential price movements. BlackRock Cuts Bitcoin ETF Fees, Influencing CompetitorsBlackRock has slashed its Bitcoin ETF fees to 0.12% for the first $5 billion, then 0.25%, sparking a fee reduction trend among competitors like ARK Invest/21Shares, Bitwise, and Fidelity. Amidst this, Bitcoin's price showed volatility following a false ETF approval announcement. The Cboe BZX Exchange has approved listings from various asset managers, with the industry keenly awaiting the SEC's decision on these transformative investment vehicles.India's App Store Blocks Major Crypto ExchangesApple's App Store in India has blocked Binance, KuCoin, and eight other crypto exchanges following the Indian Ministry of Finance's notice. This notice required foreign exchanges to register and comply with tax regulations. The move follows a 30% tax on crypto and a growing demand for regulations. The affected exchanges are still accessible on Google's Play Store. Ether's ETF Hopes Boost Price and Ecosystem TokensEther (ETH) and Ethereum ecosystem tokens surged, driven by expectations of an Ether ETF following a potential Bitcoin ETF approval in the U.S. Ether's price exceeded $2,400, outshining Bitcoin amid market volatility. BlackRock's Ether ETF application indicates rising interest in Ethereum investments. Ethereum whales accumulated nearly $1 billion in ETH, signaling bullish sentiment. Layer 2 tokens like Lido’s LDO and RocketPool’s RPL saw significant gains, highlighting Ethereum's growing ecosystem and investment potential. Ripple Labs' Bold Buyback and Strategic ShiftRipple Labs plans to buy back a $285 million stake, valuing the company at $11.3 billion. This is part of a broader $500 million strategy, including a shift from utility to equity tokens. Meanwhile, the crypto sector anticipates Ethereum and XRP ETFs, with Valkyrie Investments eyeing potential XRP ETF filings.Hong Kong Asset Managers Eye Spot Crypto ETFsAbout 10 asset managers in Hong Kong are exploring potential spot crypto ETFs, including those with Chinese and international backing. The US SEC is expected to approve spot Bitcoin ETFs soon. Hong Kong's Securities and Futures Commission and the Monetary Authority have begun preparing for spot crypto ETFs, issuing circulars outlining the requirements for these investment products. Turkey Readies Crypto Regulation for FATF EvaluationTurkey is finalizing crypto regulation to address anti-money laundering concerns and boost trust in the sector. The proposed legislation defines crypto assets and empowers the Capital Markets Board to license exchanges. Finance Minister aims to complete the proposals this month, ahead of an upcoming FATF evaluation in February. Polygon's Verify Platform Tackles AI Content FraudFox Corp's Verify, built on Polygon, authenticates media content, registering 89,000 pieces to date. It combats AI-generated content proliferation. Nomura’s Laser Digital and WebN Group's Libre, also on Polygon, tokenizes funds, with Brevan Howard and Hamilton Lane as early adopters. Set for a Q1 2024 launch, Libre exemplifies blockchain's expanding influence in investment management, showcasing its potential in regulatory-compliant asset management and trading.Arbitrum's Xai Gaming Network Launches with AirdropArbitrum-based Xai gaming network launched XAI token with 125 million tokens in airdrop. Market cap peaked at $154 million, with volatile pricing and current drop of 15%. Sentry Node operators and NFT owners can claim hundreds of dollars' worth of XAI. Xai collaborates with Offchain Labs, Ex Populus, and Team Secret for gaming development and promotion. Celsius Seeks Fund Return from Creditors Post-BankruptcyCelsius is requesting creditors who withdrew over $100,000 within 90 days before its July 13, 2022, bankruptcy to return 27.5% of these funds. This is part of their reorganization plan after revealing a $1.2 billion deficit. Compliance makes them eligible for future plan distributions. Those withdrawing under $100,000 aren't required to return funds but must vote on the plan. Richard Heart Counters SEC's Fraud AllegationsRichard Heart’s legal team counters SEC’s securities fraud allegations, requesting a pre-motion conference. They defend his blockchain work, stressing decentralization. The defense challenges SEC’s jurisdiction, citing Heart's absence from the US for over a decade. HEX, PLS, and PLSX prices surged on the news. The case's outcome could impact the crypto and blockchain sectors.Evmos Co-founder Returns Tokens to Stabilize NetworkFormer Evmos co-founder Akash Khosla is returning 59 million tokens worth $7.6 million to realign token distribution and stabilize the network's tokenomics. This move follows operational disagreements leading to a decline in the project's native token, prompting efforts by the community to improve tokenomics through token burning and proactive initiatives. Kava Blockchain Adopts Fixed Supply in Major UpgradeKava blockchain has transitioned to a fixed supply, introducing Kava Tokenomics 2.0. The upgrade aims to boost token adoption and scarcity, with a fixed supply of around 1 billion KAVA tokens. Concerns about price manipulation due to scarcity are addressed through the Strategic Vault initiative, aiming to balance security with staking rewards and decentralized community growth.Cosmos Hub Community Votes on Inflation ReductionThe Cosmos Hub community is voting on Proposal 868 to reduce the minimum inflation parameter from 7% to 0%. If approved, inflation will decrease gradually to zero if more than two-thirds of ATOM tokens are bonded. At present, 54% of votes are in favor, but a quorum hasn't been reached. The voting concludes on Jan. 23. Top Altcoin Gainers and LosersGainers:Rocket Pool RPL (+22.93%)Arbitrum ARB (+18.91%)Optimism OP (+16.79%)Losers:Bittensor TAO (-10.03%)Celestia TIA (-4.78%)Injective INJ (-4.71%) NFT Market MapBitcoin NFT Proposal Sparks Heated Developer DebateBitcoin developer Luke Dashjr's proposal aimed to stop NFTs and tokens from being inscribed onto the blockchain. The controversial plan sparked heated debate among developers and miners. After much contention, maintainer Ava Chow abruptly closed the discussion on the proposal, citing its controversial nature. Dashjr claims censorship and asserts that the issue needs addressing. SEC's Fake Tweet NFT, Price Drop and ScamsThe U.S. SEC confirmed a fake tweet approving spot Bitcoin ETFs, causing a price drop. The tweet was inscribed as an Ordinals NFT on the Bitcoin blockchain. Over 53 million Ordinals inscriptions exist. VanEck CEO predicts ETF trading by Thursday. The SEC chair advised caution due to rising crypto scams and emphasized the security of accounts. Twitter Removes NFT Profile Picture FeatureX removed the ability to use NFTs as profile pictures, initially available to all users and later as a premium feature for Twitter Blue subscribers. This change follows Elon Musk's acquisition of the company. The feature is no longer on the Premium support page, with X's press email declining to provide further information. This article has been refined and enhanced by ChatGPT.