OKX Chain Launches Liquid Staking, South Korea Freezes $93.4M in Terra-Linked Assets, Central African Republic Lists Sango in 2023

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Get your daily roundup of cryptoasset and blockchain news in bite-sized bites – exploring the stories that fly under the radar of today’s crypto news.

Blockchain news

  • OKC (OKX chain), the EVM and IBC-compatible chain behind it OKX exchange, announced the launch of their Liquid Staking protocol, “designed to be a key element for the rapidly growing DeFi ecosystem on OKC, offering a way for OKC users to efficiently and flexibly use the chain’s native token, OKT,” said a press release. The launch of Liquid Staking is expected to lead to a “significant increase” in the amount of assets flowing into OKC and result in a higher Total Locked Value (TVL), as well as advance the expansion of the OKC network.
  • Web3 network peak exposed crestits canary network should be running Kusama, Polka dot‘s canary chain. According to the announcement, the krest network will allow the peaq community to develop and test decentralized applications (dapps) and tools in a real IoT environment to simulate the behavior of machines, vehicles, robots and devices before they go live on the main peaq network.

Legal news

  • The Seoul Southern District Court made a decision to confiscate additional property associated with Terra, The Korea Economic Daily reported. A court in South Korea has ordered the freezing of 120 billion won ($93.4 million) of CEOs’ assets Terraform Labs‘ branch office Kernel Labsblockchain consulting firm.
  • Crypto lender in bankruptcy BlockFi has filed a request with US Bankruptcy Court seeking to reopen payouts for users who have cryptocurrencies locked in their wallet accounts, according to to an email to users shared on Twitter. A hearing is scheduled for Jan. 9, several news outlets reported, and a second hearing is scheduled for Jan. 13 regarding the wallet accounts held by the Bahamas-based subsidiary BlockFi International Ltd.

CBDC news

  • The Central African Republic (CAR) will not state its own Sango crypto coin by the first quarter of next year, Reuters reported citing the coin’s official Telegram channel. Also delayed was the release that would have allowed coin holders to sell up to 5% of their coins, which are currently “locked” for a year and cannot be sold, it added.

Exchange news

  • Binance announced that he had joined Chamber for digital trade, the blockchain and cryptocurrency trade association, said in a press release. They will work to “educate, advocate and bring solutions to some of the most pressing issues affecting the industry,” and Binance will “participate in research, roundtables, working groups and discussions with policymakers and regulators to help enact sensible regulations and policies benefits society and users,” it added.
  • Bitfinex CTO Paolo Ardoino wrote the open letter to “reflect where we are as an industry” and the directions the exchange is taking, the post said. Key conclusions include: blockchain technologies should be more accessible and understandable to everyone; Bitcoin (BTC) has the ability to provide a cost-effective solution to the unbanked, providing trust and transparency, unquestionable and incorruptible; freedom of choice, communication and finance are the lifeblood of the future, and everything that will improve these freedoms is worth strengthening; it’s critical for players to continue to build solid and reliable foundations and show users that they can trust the ecosystem, “the multiple crises we’ve seen this year will mark a tipping point separating the strongest companies that bring real value to their customers and those that don’t.”

Investment news

  • Network interoperability Axelar announced 60 million dollars Axelar Ecosystem startup financing program, which will “accelerate the development of decentralized applications and protocols that can replace centralized exchanges, providing on-ramps to blockchain-based technology for millions of users.” A group of blockchain investors is investing capital to support the program: Block change, Choir first, Cooperation+Currency, Cygnus, gave5, DCVC, Divergence Ventures, Dragonfly Capital, Lemniscap, Morningstar Ventures, Nima Capital, The capital city of the node, North Island Ventures, Rockaway Blockchain Fund, SCB 10Xand others.

Mining News

  • Manufacturer of electrotechnical solutions for users of mining equipment Tusk Inc. Limited announced the introduction of new production machines from polycrystalline to photovoltaic solar panels. The press release claims that photovoltaic cells are more durable and tougher and would allow cryptocurrency miners to avoid high electricity bills.
  • Bitcoin mining company Greenidge generation entered into an agreement with his lender NYDIG on debt restructuring of 74.7 million dollars. The company “continues to actively explore raising additional equity capital and engage in discussions with its lenders,” but its board is also engaged “in active discussions regarding the potential and timing of a voluntary bankruptcy filing,” Greenidge said in a filing with US Securities and Exchange Commission (SEC).

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