Crypto News Jan 18, 2022

  1.  Crypto investing is alive and well in Turkey, thanks to lira woes

Just off of Istiklal street, Istanbul’s busiest pedestrian walkway, the occasional passerby stops to glance at a screen displaying the prices of cryptocurrencies in the window at NakitCoins. Interest in crypto among Turks, like the rest of the world, has increased over the years. But Turkey’s economic crisis has pushed millions of curious observers to actually sink their savings into Bitcoin, Ethereum and other coins. The growing appetite for crypto is the latest manifestation of the Turkish public’s search for reliable investments, said Cem Yilmaz, who founded NakitCoins in 2018 and has now opened three branches in the country.

The Monetary Authority of Singapore (MAS) on Monday issued guidelines that limit cryptocurrency trading service providers from promoting their services to the general public, as part of a bid to shield retail investors from potential risks. The new guidelines clarify the expectations of MAS that companies should not engage in marketing or advertising of DPT services in public areas in Singapore or through the engagement of third parties, such as social media influencers, to promote DPT services to the general public. Singapore is a popular location for cryptocurrency companies due to a comparatively clear regulatory and operating environment and is among the forerunners globally in developing a formal licensing framework.

Several months ago, investors facing FOMO – the fear of missing out – worried that the ship had sailed when it came to crypto. Now, however, while that ship may have left the harbor, the wind is out of its sails as it floats directionless for the time being. Rates from several major exchanges compiled by analytics firm CryptoQuant show that the cost of borrowing to buy crypto on leverage has fallen to the point where it’s slightly negative. Perhaps it’s because of upcoming Fed tightening; enthusiasm seems to have dampened. That sentiment is backed up by some market data showing market activity has fallen and that could take prices with it.

Major crypto wallet and platform has temporarily halted withdrawals after “a small number of users reporting suspicious activity on their accounts,” but all funds are reportedly safe at the moment. Ben Baller, a cryptocurrency enthusiast and jeweler, claimed that his account had been breached, losing 4.28 Ether (ETH) (about $15,000). Dogecoin (DOGE) founder Billy Markus noticed a suspicious transaction pattern on Etherscan that prompted the company to halt all transactions until it figures out what’s going on with its platform. Cointelegraph reached out to for more details regarding its decision to halt withdrawals but did not receive a response as of publishing time.

Cryptocurrencies continue to fascinate Indians despite their high volatility and uncertain legal status, with a large number of them seemingly unmindful of the risks involved. Indians visited crypto scam websites more than 17.8 million times in 2020. The figure fell sharply in 2021, but it was still substantial at 9.6 million times. Chainalysis’ data names,,,, and as the five-most visited scamming websites by Indians over the past year. Over the last two years, Indian users have visited many websites running crypto scams millions of times, according to data sourced from blockchain tracking firm Chainalysis Pte Ltd. Capital announced Monday that it is expanding its $200 million Web 3 fund, and it has appointed Jon Russell, a former technology journalist based in Bangkok where he wrote for Tech Crunch and The Ken, as an Asia-based general partner. The fund is currently run by co-founder Bobby Bao and is hiring more GPs around the world. Russell will help expand the fund’s exposure to Asia-based projects. Capital initially launched the fund in March 2021 with $200 million in capital, targeting seed and Series A deals in verticals like DeFi, NFTs, blockchain gaming and the metaverse.

Bitcoin spent much of its weekend roughly where it started it, hovering just over $43,000. That level was a little better than at the start of the week, but well off its highs just two months ago. The weekend saw Bitcoin in a choppy zone with no clear trend,” BitBull Capital CEO Joe DiPasquale told CoinDesk. “Volumes have also been lacking and Bitcoin’s failure to cross $45,000 is a sign of its inherent weakness. DiPasquale does not see Bitcoin’s price dramatically rising in the days ahead, although he noted that the next options expiry on Jan. 28 could could serve as a “possible trigger” to send Bitcoin toward $50,000.

Walmart Inc. is preparing to create its own cryptocurrency and collection of non-fungible tokens, filings with the U.S. Patent and Trademark Office show, setting the stage for meeting its customers in the emerging metaverse. The applications, which were first reported by CNBC, represent a significant step for the retail giant as it studies how to participate in the metaverse, a virtual world that blends aspects of digital technologies. The retailer sought several new trademarks in December that show it intends to make and sell virtual goods such as electronics, decor, toys, sporting goods and personal-care products.

It wasn’t just a bull run for prices last year. Careers in crypto outstripped price action in 2021, as crypto job searches soared by 395% in the United States alone according to LinkedIn. For 2022, the growth trend looks set to continue. The biggest exchanges in crypto are brimming with job posts; Coinbase has over 250 openings, Kraken over 300, and the world’s most active exchange, Binance, lists more than 600 job posts. For those who are unable to switch jobs into crypto, a wider HR trend is crypto remuneration. The Mayors of New York and Miami announced that they would take a portion of their pay in BTC in 2021.

  1.  Kosovo is the latest country to ban crypto mining as it deals with a power crisis

Earlier this month, Artane Rizvanolli, the Economy Minister of the Balkan state of Kosovo, informed the public that the state was banning crypto mining to deal with a global energy crisis. The government also announced a 60-day state of emergency to deal with Europe’s ongoing energy crisis. The continent itself has been facing surging electricity prices for some months now, stemming from a shortage of natural gas. In December 2021, Kosovo was forced to shut down its largest thermal power plant following technical issues, forcing the government to import electricity from overseas. And amid such a shortage, industries like crypto mining will be the first to fall prey.