Proof of Work Hearing, Robinhood on Crypto Investing and more Crypto Market News compiled in the last 24 hours.

Crypto Market Highlights: Regulatory News

The US House of Representatives Energy and Trade Committee has announced a hearing on the energy use of the cryptocurrency industry to be held on Thursday, January 20, 2022. Session Focus This hearing will focus on Proof-of-Work (PoW ) blockchain and how such Crypto Market can transition to cleaner alternatives.

Crypto Market Highlights: Investment News

Trading platform Robinhood has no plans to spend any significant amount of the company’s cash on crypto anytime soon, Chief Financial Officer Jason Warnick told The Wall Street Journal. He stated that they saw no “strategic compelling reason” for their company to put “a significant amount of money” into the company’s cryptocurrency.

El Salvador’s bitcoin transactions add risks to an already weak sovereign credit outlook and reflect a growing probability of default, rating agency Moody’s said.

Binance Labs, the venture capital and innovation incubator of major crypto exchange Binance, has invested in Nine Chronicles, an open-source decentralized role-playing game. Nine Chronicles plans to expand its team and product suite, and it will also work with the Binance ecosystem.

The parent company behind DeCurret, a Japan-based company that offers trading and exchanges in digital assets, is planning to sell its crypto business to investment platform Amber Group, Nikkei reported. Although the details of the acquisition are unclear, the news outlet has reported a sale price in the millions.

Cryptocurrency data and software provider Lukka has raised $110 million in a Series E funding round backed by Marshall Wace, S&P Global, Soros Fund Management and others at a post-raising valuation of $1.3 billion. The money will be used for “a strong growth strategy and global expansion,” the team said.

Crypto Market Highlights: Security News

Security firm PeckShield has compiled a list of 55 potential scam projects dubbed “potential carpets” on Binance Smart Chain (BSC). These projects include malicious features that allow admins to mint unlimited tokens, blacklist accounts and prevent owners from selling their tokens, the company said.

A service called Fees.wtf, which aims to show people how much they’ve spent on Ethereum (ETH) blockchain transactions, has released its WTF token – and the next bot trade says 58 ETH (approx. 180,000 USD) deducted Wrapped ETH (wETH) and the WTF liquidity pool. Also, some other users report that they lost money.

Crypto Market Highlights: News on new products and services

The Northwest Arkansas Council, which includes the cities of Fayetteville, Rogers, Bentonville and Springdale, is offering $10,000 worth of bitcoin (BTC) and a mountain or street bike to attract tech pros coming from the area, according to local media outlet KNWA Move far into the region. However, if the potential professional prefers, they can opt for cash and an annual membership in an arts or cultural institution.

San Diego State University (SDSU) announced that it welcomes cryptocurrency donations in BTC and ETH. Campanile Foundation CFO David Fuhriman said that 1% of all crypto holdings are withdrawn quarterly to fund campus activities exploring how the university can interact with electronic money.

Crypto Market Highlights: Legal News

Ethereum-focused blockchain firm ConsenSys has filed a lawsuit against the head of its former venture capital arm, Kavita Gupta, over her continued fraud allegations that Gupta tricked the company into hiring her “through her” by claiming to have a having an excellent degree” turned out to be a scam. The lawsuit alleges that credentials from Harvard Business School, MIT and the World Bank are fabricated.

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