BitDigest January 4 · Issue #814

• Bitcoin and ether break $34,500 and $1,100 respectively before sliding in early morning trading
• FinCEN plans to require all citizens to declare foreign crypto accounts
• Congressional leaders request delay to Treasury’s KYC requirements on self-custody wallets

(Belated) Happy Birthday Bitcoin

Yesterday, January 3rd, was the twelfth anniversary of the bitcoin Genesis Block. Thanks you Satoshi.

Market Responds to XRP Charges (continued)

Additional exchanges have decided to halt trading of XRP due to the recent SEC law suit:

• Digital currency lender and trading operation Genesis informed clients that all XRP spot purchases were halted on December 29th with existing clients having until January 15th to sell any XRP holdings. New XRP loans will no longer be originated and all open loans will be called. The XRP derivatives business will continue and Genesis plans to stop accepting new XRP deposits in its custody business.
• Social trading platform eToro announced US customer XRP trading will be suspended starting January 3rd with customers having until January 24th to close all open positions.
• Binance’s US operation announced plans to suspend XRP trading and deposits on January 13th.
• 🅱️There has been no word from Gemini or Grayscale, however given Genesis’ announcement (above), it is likely we will hear a decision on Grayscale plans to manage the assets in the XRP Trust (last valued at $8.4 million) shortly.
• A class action lawsuit has been filed in San Francisco federal court alleging that Coinbase knew XRP was a security and illegally sold the tokens misleading investors and garnering a commission for the digital currency exchange.

The Headlines

Market Data

Exchange, Custody and Product News

Thoughts on the Ecosystem