Cameron Winklevoss Slams DCG CEO Over $900M In Locked Funds – January 2

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $16,709

Bitcoin price has started the year in the upper $16,000s – a positive move, yet still a low-volatility one.

Top-20 altcoins have had a good 24 hours of price action, as Ethereum gains 1%, XRP rises 5% and Solana recovers strongly with a 12% rally.

Top Stories for January 2, 2022 πŸ”₯

πŸ‘‰ Cameron Winklevoss Slams DCG CEO Over $900M In Locked Funds

Cameron Winklevoss, co-founder of the Gemini crypto exchange, has criticized Digital Currency Group (DCG) founder Barry Silbert over “bad faith stall tactics” relating to locked user funds.

DCG is the parent company of crypto broker Genesis, which owes users around $900 million relating to the collapse of FTX. Genesis was a borrower of funds from Gemini’s Earn program, which resulted in the loss of user funds on both platforms.

Winklevoss has expressed his frustration with Silbert in working out a way to return funds to users, writing that Silbert has so far refused to “get into a room” with Gemini executives to come to a resolution.

πŸ‘‰ Turkey To Use Blockchain Digital ID For Online Public Services

Turkey plans to use a blockchain-based digital identification in the login process for its online public services portal, E-Devlet.

Fuat Oktay, the vice president of Turkey, called the use of blockchain a “revolution” for the country’s e-government efforts and said that it will make online services more secure and accessible for users, who will be able to keep their digital information on their mobile phones.

πŸ‘‰ Two-Thirds Of Traditional Finance Experts Expect 2023 Recession

According to a survey by the Wall Street Journal, over two-thirds of economists at 23 major financial institutions expect the US to experience a “shallow” or “mild” recession in 2023, with two institutions predicting a recession in 2024.

The Federal Reserve, which has been raising interest rates to fight inflation, is seen as the main cause of the potential recession. Other contributing factors include pandemic savings being spent, a decline in the housing market, and stricter lending standards by banks.