Top 10 favorite news of the year

Looking at Cointelegraph's most successful articles of 2023, from US presidential candidates pledging to ban central bank digital currencies (CBDCs) and a court ruling that says XRP is not a security, bankruptcy and ETFs.

These articles reflect the heartbeat of the crypto space over the past year, providing a snapshot of the topics that have most interested our readers.

#1 Ron DeSantis has promised to ban CBDCs in the US if elected president.

US presidential candidate Ron DeSantis has reaffirmed his opposition to central bank digital currencies (CBCCs), vowing to ban them in the US if elected.

Speaking at the Family Leadership Summit on July 14, DeSantis said, “On day one, we will have a central bank digital currency. Done. Dead. It won't happen in this country.” He previously signed a bill that would ban federal CBCCs and foreign CBCCs in Florida.

Opponents fear privacy risks, while others see CBDCs as a tool for blockchain adoption. The US Federal Reserve currently has no immediate plans for a digital dollar, but the landscape could change preferences after 2024.

CBCC projects have scaled up globally, with 100+ countries in research and 39+ countries implementing pilots, concepts or related initiatives, according to Cointelegraph's CBDC database.

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#2 Breakdown: The judge ruled that XRP is not a security guarantee in the SEC's lawsuit against Ripple

On July 13, the United States District Court for the Southern District of New York granted Ripple Labs a partial victory in the Securities and Exchange Commission (SEC) case from 2020.

Judge Analisa Torres (XRP) is not a security when trading on a digital asset exchange, but it is a security when sold to institutional investors. Initially, the SEC struggled to limit the supply of Ripple tokens due to its unregistered security status.

The issue since December 2020 has seen the price of (XRP) rise from $0.45 to $0.61 within minutes of the news. At the time of writing, the price of XRP is $0.63.

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#3 More than 186 US banks are in a good position to fail, SVB analysis shows

An analysis by economists triggered by the collapse of Silicon Valley Bank (SVB) on March 10 highlighted the vulnerability of nearly 190 US banks to a run. Factors such as rising interest rates, high levels of insurance deposits and loss of long-term assets have threatened the stability of banks.

The study found that if even half of uninsured depositors decided to withdraw, nearly 190 banks would be at risk, with up to $300 billion in insured deposits at risk.

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#4 SEC Lawsuits: 68 cryptocurrencies are now viewed as securities by the SEC.

As a result of several lawsuits, the SEC expanded its classification of cryptocurrencies as securities to at least 68 digital assets.

The lawsuits against Binance and Coinbase introduced 23 cryptocurrencies to the SEC list, with a market capitalization of more than $100 billion. Notable additions include (BNB), Solana (SOL), Cardano (ADA), Polygon (MATIC), and Decentraland (MANA).

SEC Chairman Gary Gensler commented that “everything except Bitcoin” falls under the agency. This legal investigation covers approximately 10% of the total crypto market capitalization, indicating the SEC's increasing involvement in regulating the crypto space.

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#5 Former Coinbase CTO Bets $2M on Bitcoin's Performance

Former Coinbase CTO Balaji Srinivasan placed a $2 million bet on the performance of Bitcoin (BTC), and predicted it would reach $1 million in 90 days due to high inflation in the United States.

The sale began on March 17, with Srinivasan accepting bets from anonymous Twitter user James Medlock. The terms include odds of 40:1, with Medlock risking $1 million USD (USDC) and 1 (BTC) worth less than $1 million worth of bitcoin on June 17. Bitcoin did not reach the expected price point during that time frame. .

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#6 BlackRock's Spot Bitcoin ETF Now Listed on Nasdaq Trading Clearinghouse – Bloomberg Analyst

BlackRock's proposed iShares spot Bitcoin exchange-traded fund (ETF) has been listed on the Depository Trust & Clearing Corporation (DTCC), indicating the possibility of approval by the United States Securities and Exchange Commission (SEC).

Bloomberg ETF analyst Eric Balchunas commented that such a listing could be part of the process before a crypto ETF launches, looking positively toward SEC approval. The SEC has until January 10, 2024 to decide on BlackRock's application. If approved, it could open the door to crypto ETFs elsewhere.

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#7 Here's how ChatGPT-4 earns $100 in crypto trading

Cointelegraph conducted a crypto-trading experiment with OpenAI's GPT-4 version of artificial intelligence (AI) ChatGPT, allocating $100 to various cryptocurrencies based on learned insights.

AI recommended dividing the funds as follows: $50 to (BTC), $25 to (ETH), $15 to Cosmos (ATOM), and $10 to “NFT and Web3-related projects.” He cites Bitcoin's “safe haven” status amid financial uncertainty and a potential rally to $100,000 for the hard position in (BTC).

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#8 Genesis for bankruptcy: plans to report

As reported on January 18, Genesis Global Capital, a cryptocurrency lending firm and subsidiary of Digital Currency Group, was preparing to file for bankruptcy due to liquidity issues.

The bankruptcy filing followed US SEC allegations against Genesis and crypto exchange Gemini over the offering of unregistered securities through Gemini's “acquire” program. Gemini founder Cameron Winklevoss said Genesis owed the exchange $900 million.

Genesis faced liquidity problems related to the collapse of Three Arrows Capital and the bankruptcy of FTX, leaving Genesis with approximately $175 million in cash.

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#9 Mark Cuban lost $870K in a hot wallet hack.

In September, billionaire investor Mark Cuban reportedly lost nearly $900,000 from one of his hot wallets.

Blockchain sleuths saw the hack as assets such as USD Coin (USDC), Tether (USDT) and Lido Staked Ether (stETH) were drained within a 10-minute window. The Cuban confirmed the abduction but said he was not sure how it happened.

This was not the first time that Cuba suffered from a “carpet pulling” in June 2021 and suffered losses on the crypto market.

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#10 Missing ‘Bitcoin Millionaire' and ONFO Coin Creator Found Dead: Report

Dr. John Forsyth, co-founder of the ONFO coin crypto project, has been found dead from a gunshot wound nearly a week after he was reported missing.

Forsyth, emergency room doctor and crypto advocate, disappeared on May 21, which led the family to raise concerns. On May 30, his body was found less than a mile from the hospital where he worked. Forsyth co-founded ONFO Coin, a referral-based crypto project, with his brother Richard in 2020.

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