Hong Kong Regulates Stablecoins (+3 More Market News and Ari10 Update)

What happened this week in the crypto space?

GM! This is Mateusz Kara.

And you've just found the best place in the crypto space to know more about the blockchain industry. I'm also giving you updates on my biz.

In Today's edition:

1/ Mt. Gox repayment begins

2/ Vitalik Buterin published Ethereum changes

3/ MicroStrategy accumulates more bitcoins

4/ Hong Kong regulates stablecoins

+ Ari10 Company Update

Sounds interesting? I think so.

Let's dive deeper into the crypto rabbit hole:

1/ Mt. Gox repayment begins

We started with something that might continue through 2024. According to some Reddit users, the trustee of the assets from the Mt. Gox exchange has started distributing funds to bankrupt company creditors. These individuals received fiat currency transfers from the trustee. So far, no one has reported receiving payments in cryptocurrencies (creditors could choose the form of repayment).

The withdrawal process will take a year. It won't dramatically impact the BTC price. Besides possibly minor fluctuations stemming from crowd psychology and FUD.

2/ Vitalik Buterin published Ethereum changes

Ethereum founder Vitalik Buterin has a clear goal for 2024. He wants to alter the Proof of Stake algorithm. He believes it needs to be simplified. The aim is for only 8192 signatures to be allocated to one slot in the network, down from the current 28,000.

Additionally, he wants the project's blockchain to be closer to its cypherpunk roots. In his post, he mentioned that his idea had been ruined by speculation. However, he noticed that investors, once they "get into the ecosystem, believe in building a more open and decentralized world."

Is this an announcement of further Ethereum reforms?

3/ MicroStrategy accumulates more bitcoins

MicroStrategy has bought more BTC, this time 14,620 BTC, holding $5.9B in Bitcoin in total. It is still continuing its investment strategy since 2020.

It's worth noting that this entity is a hodler. MicroStrategy only acquires BTC and doesn't sell them.

4/ Hong Kong regulates stablecoins

Hong Kong regulates the stablecoin market. The regional financial regulator - equivalent to Poland's KNF - has facilitated obtaining licenses for stablecoin issuers since December last year. However, it's important to add that this applies only to stablecoins pegged to fiat currencies.

According to Eddie Yue, head of the Hong Kong Monetary Authority, stablecoins could become a bridge between the traditional finance sector and the cryptocurrency market.

ARI10 COMPANY UPDATE ??

It's time to summarize 2023 activities at Ari10! ??

Last year, we didn't complain about lack of activity. Following the intense 2022, there was a noticeable market thaw, and Ari10 saw notable progress too.

Here's what you need to know:

? Over 43M?#ARI10?tokens burned

? 8 new employees joined the Ari10 team

? 5 business and charity initiatives supported

? Almost 10 new Ari10 gateway partners joined

? 4 webinars conducted for new Cryptoterminal partners

? 6 voting proposals were addressed in the governance panel

? Participation in over 20 events worldwide by the Ari10 Team

? Hosted 5 AMA and Q&A sessions with?Mateusz Kara?and?Grzegorz Wojtyniak

However, that's not all, so watch the full video here:?https://lnkd.in/dGgtNTD5

Our goal for 2024: We're ready to surprise the market again!

2nd 2024 Goal: Surround Yourself with Great People! ??

Business isn't just transactions; it's about connections. Rule #2 for 2024: Only team up with people you genuinely like. Why? Because we spend a ton of time at work. It's simple - life's too short to spend it with folks you don't vibe with.

Some say it's bad to only mingle with like-minded people. I disagree. Sure, diverse skills are key, but shared values? That's the real deal for a killer team. Why force a fit with someone who doesn't align with your mindset? It's like trying to fit a square peg in a round hole. Not happening.

So, here's the deal: Build your business tribe with people you'd happily hang out with after hours. With the right crowd, even the toughest tasks feel like a breeze. Because when work feels like hanging out with friends, every challenge becomes a bit of fun. ??

Remember, it's not just who you work with; it's who you enjoy working with.

P.s. If you're thinking about entering or expanding your business into Web3 then Ari10 Gateway is the right solution for you! ??

Reach out to us: https://ari10.com/gateway

And that’s all for today. Thanks for your time, investors & Crypto Geckos! ?? ????

Please rate this newsletter with a reaction

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Thanks for your feedback and see you next week!

Mateusz Kara