Zipmex, a Thailand-based cryptocurrency exchange, filed for bankruptcy protection. The firm seeks protection from creditors to give it more time to resolve its liquidity and financial challenges. More: - Zipmex filed for bankruptcy protection for five of its companies under Section 64 of Singapore's Insolvency, Restructuring and Dissolution Act 2018:
- Zipmex Asia Pte Ltd,
- Zipmex Pte Ltd,
- Zipmex Company Limited,
- PT Zipmex Exchange Indonesia,
- and Zipmex Australia Pty Ltd.
- Zipmex is automatically granted protection for 30 days from creditors seeking legal action or until the Singapore court decides.
- The company released a statement saying the automatic 30-day period will "protect Zipmex against third party actions, claims, and proceedings while it is active ... without having to worry about defending potential claims or adverse actions while doing so."
- The company will continue to operate its Trade Wallet, NFT platform, and other products, reassuring users that they should not expect any interruptions to these services.
- Several crypto companies have taken a hit during the bear market, including:
- Celsius Network,
- Voyager Digital,
- Three Arrows Capital,
- BlockFi,
- Vauld
- and, of course, Terraform Labs.
Decrypt 
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Ripple executive Brad Garlinghouse discussed potential outcomes of the legal battle against the SEC and what happens if courts determine that the XRP token is a security. The U.S. SEC filed legal action against Ripple Labs and two executives for selling unregistered securities in 2020 and raising $1.3B through illegitimate means. More: - The SEC sued CEO Garlinghouse, co-founder Chris Larsen, and Ripple Labs in Dec. 2020, claiming that the company's XRP was sold as an unregistered security.
- Ripple denied this allegation and has been fighting with the SEC in court.
- Garlinghouse discussed the case's outcome should the courts rule that the XRP is considered a security at the Collision 2022 event in Toronto.
- The Ripple executive explained that if the SEC wins the case, then XRP is only considered a security in the United States.
- "The SEC only has jurisdiction in the United States, and in some ways ... How the world is operating right now is as if the case has been lost," he says.
- However, the CEO is optimistic about potentially winning against the SEC because he says, "the facts are on our side. I'm betting that because the law is on our side."
- Ripple's attorney says that a resolution will likely happen in 2023, which will have significant legal ramifications for the entire crypto industry.
- This week, the SEC tried to revoke the amici status of XRP holders, but the courts rejected the SEC's efforts, and lawyer John Deaton will continue to represent the interest of 67,000 XRP token holders.
- Coinbase removed XRP from its exchange in late 2020 in the wake of the SEC lawsuit against Ripple.
- Last week, the SEC filed a lawsuit against Coinbase for selling unregistered securities and arrested and charged the former Product manager and two of his accomplices for insider trading.
- Coinbase Lawyer Paul Grewal wrote a blog post titled "Coinbase does not list securities" that the SEC's ongoing scrutiny has confused authorities and crypto companies on whether certain crypto tokens should be regarded as securities.
- Several legal experts argue that stringent disclosure and registration requirements are involved when listing securities. Since the crypto industry is unregulated, it cannot be subject to the same level of scrutiny.
Bitcoin.com
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 A message from BOXABL Elon Musk said what about this start-up?! The high-profile billionaire shouted out Boxabl, calling it a “cool product.” The Lego Architecture is eye-catching, taking the $13 trillion global construction industry by storm. Can they pull off becoming a disruptor? Why Boxabl? - Setting up a 170,000 sq ft manufacturing facility in less than one year
- Raising over $100M from over 15,000 investors
- Elon Musk shouted out the Las Vegas-based company calling Boxabl a “cool product.”
- Achieving LEED certification and hurricane wind ratings on all houses
- Strategic partnership and investment from the largest home builder in the USA, D.R. Horton Inc.
- Over 50 patent filings due to considerable innovations in building technology
- Factory 2 is now under construction
- Customer waitlist of over 100,000 pre-orders, indicating potential demand worth billions of dollars
- Guided by Volkswagen Group's Porsche Consulting Inc. for the design and implementation of Boxabl’s new factory
- Shipping houses every day
Invest Today
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The city of Miami has partnered with TIME, Mastercard, and Salesforce to launch a collection of 5,000 NFTs. Francis X. Suarez, the mayor of Miami, announced that 56 local Miami-based artists are creating NFTs representing the city's 56-square-mile area. More: - TIME will assist with the city's NFT strategy and execution of the project.
- Mastercard will offer Miami NFT holders exclusive benefits such as access to exclusive events, restaurants and private cultural tours in the city.
- Salesforce will manage the NFT minting process and the sales process by integrating its new NFT cloud platform that is not yet launched.
- Suarez's vision is to give holders the ability to unlock unique experiences through the NFTs.
- He said, " I am thrilled to be partnering with TIME, Mastercard, and Salesforce on this initiative. The city of Miami has been on the vanguard of the Web3 revolution. We will continue to employ these new technologies to support our existing businesses while attracting new ones, raising capital and providing experiences for our citizens and those visiting this great city."
- Suarez is a supporter of Web3 and the crypto industry and has also declared that he is open to receiving Bitcoin for his salary. In the past, he also helped secure a $25M fund from Borderless Capital to support blockchain startups and entrepreneurs in the city.
Investing.com
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The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board have issued Voyager a cease-and-desist notice. The two federal institutions are demanding the crypto wallet company remove claims that its customers' investments are FDIC insured. More: - According to the Fed and FDIC, Voyager's website, mobile app, and social media accounts are misleading customers with inaccurate information.
- According to the agencies, Voyager is falsely claiming to be FDIC insured, that investments are protected by FDIC insurance, and that customers are protected by the federal insurance coverage even if Voyager collapses.
- Voyager maintains that, while the crypto wallet is not itself FDIC insured, its banking partner, the Metropolitan Commercial Bank, is.
- The FDIC takes issue with this account, claiming that the company's language is misleading regardless of the bank's status.
- Moreover, Voyager investors are not covered by FDIC insurance.
- Voyager was already under investigation when it received the cease-and-desist letter.
- The company is no longer being traded on the Toronto stock exchange.
Coin Telegraph
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An engineer working at Customer.io has leaked Celsius customer emails with a third party. Celsius has contacted customers whose emails were shared. Celsius maintains that the breach does not "present any high risks to our clients." However, after a similar data breach in April 2021, several affected users fell prey to phishing scams. More: - Celsius told its customers that only some users' email addresses were shared with the presumably malicious third party.
- While Celsius assures customers their data is safe, some community members disagree.
- Many have taken to Twitter to warn those affected by the breach to beware of phishing scams.
- This is not the first time customer emails have been leaked from Customber.io.
- A month ago, OpenSea emails were unknowingly leaked by the business application.
- The responsible Customber.io engineer has since been terminated.
Twitter
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Ethereum is testing new features as it inches closer to its ETH 2.0 launch. The next-gen product will include "proof-of-stake" (PoS) capabilities necessary for its forthcoming merge with Beacon Chain. The latter already runs on a PoS system. The company has not set an ETH 2.0 launch date. More: - The company is moving closer to debuting the 2.0 update.
- Only two "testnets" remain: Goerli's Beacon Chain and Prater.
- ETH 2.0 will improve the network's scalability and permit future upgrades, including "sharding."
- After "The Merge," Etherium customers can no longer earn rewards by mining.
- While the test should not affect token holders of the majority of Ethereum users, the company is asking developers to protect themselves.
- The company explained, "Most applications on Ethereum involve much more than on-chain contracts. Now is the time to ensure that your front-end code, tooling, deployment pipeline, and other off-chain components work as intended."
Daily Hodl
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 |  | Gia Mattu is based in Calgary, Alberta. She is an entrepreneur with experience in climate technology, drones, AI, machine learning, and blockchain technology. When she's not working, she loves to hike the Canadian Rockies, try new cuisine, and travel. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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