Investment Giant Samsung Asset Management to Introduce Bitcoin Futures ETF in Hong Kong

Samsung Asset Management Hong Kong, a division of the South Korean technology giant, is planning to introduce a new Bitcoin futures ETF on Jan 13th.> The ETF, named "Samsung Bitcoin Futures Active ETF", aims to provide investors with similar returns as investing in the spot Bitcoin.
> This ETF will allow investors in Hong Kong and other Asian markets to gain exposure to the world's most popular digital currency, Bitcoin.
> The ETF will primarily invest in Bitcoin futures from the Chicago Mercantile Exchange (CME), a reputable exchange is known for its futures contracts that are based on the underlying spot price of Bitcoin.
> This helps to reduce the volatility and risk associated with investing directly in digital currency. Continue reading.

Bill Gates Downplays Web3 And Metaverse, Backs AI As Next Revolutionary Technology In AMA Session

In a recent Ask Me Anything session on Reddit, Bill Gates, the co-founder of Microsoft, was asked about the current stage of technology and which one is as big as the internet was in the early 2000s.
> In response, Gates stated that he believes artificial intelligence (AI) is the most promising technology that is currently at a similar stage as the internet was in the early 2000s.
> He downplayed other technologies such as web3 and the metaverse, stating "I don't think web3 was that big or that metaverse stuff alone was revolutionary but AI is quite revolutionary."
> This statement from Bill gates reflects his belief that AI has the potential to be a game changer and revolutionize the way we live and work, similar to the way the internet has done in the past. Details here.

FTX Crypto Exchange Uncovers $5 Billion In Assets, Lawyer Says

Crypto exchange FTX has announced that it has recovered a substantial amount of assets, including cash, liquid cryptocurrency, and liquid investment securities, totaling over $5 billion, Coindesk reported.
> Notably, this does not include another $425 million in crypto held by the Securities Commission of the Bahamas, the report stated.
> This amount was reported during a hearing on Wednesday.
> While this is a significant amount, it was also reported that there is still an unknown sum missing that is owed to customers.
> The attorney representing FTX, Adam Landis, stated that the recovered assets do not include illiquid cryptocurrency tokens that cannot be sold without affecting the market.
> This means that the total claims held by FTX may be even higher. Full report here.

Top 4 Craziest Things Sam Bankman Friend Laid Bare In His New Substack

Days after being released on a $250 million bond, founder of beleaguered cryptocurrency exchange Sam Bankman-Fried turned to social media to deny allegations of misappropriating user funds and slammed Binance CEO Changpeng Zhao for allegedly running a months-long campaign against FTX.
> Here are the top 4 craziest things Bankman-Fried said in his post.
> I Didn’t Steal Funds, Certainly Did Not Stash Billions
> “I didn’t steal funds, and I certainly didn’t stash billions away,” he said, as he asserted that the majority of his possessions are still being used to support FTX's customers. Continue reading.

End of the Downturn: NFT Trading Volume Increases in December 2022

The world of non-fungible tokens (NFTs) saw a glimmer of hope in December 2022, as the monthly trading volume of NFTs broke an eight-month streak of declines.
> According to data from The Block, NFT trading volume rose by 13% in December, reaching $549.5 million.
> This is a welcome change for the NFT market, which has seen a steady decline in trading volume throughout the year.
> The increase in trading volume can be attributed to a combination of factors, according to Thomas Bialek from The Block Research.
> One of the main reasons is tax loss harvesting, a strategy used by investors to offset capital losses by selling assets at a loss before the end of the year. More here.

BIS Report Outlines Approaches to Regulating Crypto Market: Ban, Containment, or Encourage Sound Innovation

The Bank of International Settlements (BIS) has published a report addressing the risks associated with the crypto market.
> In the report, the global group of central bankers suggests that authorities can take three different approaches when it comes to crypto.
> These include regulation, containment, or a complete ban on the sector.
> The report highlights the advantages and drawbacks of each approach, noting that they can be mixed and matched to apply to different risks that authorities perceive.

CBitcoin Reaches Highest Level Since November, Crypto Exchanges and Miners See Gains

Bitcoin has reached its highest level in a few months, hitting $18,800, a 7% increase for the day.
> The digital currency is attempting to recover from its bear market in 2022.
> As bitcoin rises, crypto exchange Coinbase is also seeing a boost with a 4% increase today and a 35% rise year-to-date.
> Additionally, Bitcoin miners like Marathon Digital, Riot Platforms, and Hut 8 Mining are experiencing significant gains, with increases of 16%, 83%, and similar percentages year-to-date.
> Furthermore, the Grayscale Bitcoin Trust, which had a large discount to its net asset value at the end of 2022, is up 12% for the session and has narrowed its discount to 36.4%.
> MicroStrategy, a company that holds over 130,000 Bitcoin, is up 5.5% today and 42% year-to-date.