Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter!

We’re going to start sending out the newsletter much earlier in the mornings so without any more delay, let’s just jump right into today’s top headlines.

📰 News Highlights:

TrueUSD Depegs as Hodlers Dump! 📉 [Source][Source][Source]

Dive into the turbulent waters of stablecoins as TrueUSD (TUSD) takes center stage in a gripping saga. The stablecoin, linked to crypto magnate Justin Sun, recently faced a depegging crisis, plummeting below its intended $1 peg to $0.988.

Reports surfaced of holders ditching TUSD, swapping it for the more established Tether (USDT), triggering a colossal sell-off on Binance exceeding $339.2 million.

The crypto community watches closely as the depegging event unfolds, raising questions about the stability and collateralization of TUSD.

Amidst the chaos, pseudonymous user Rho Rider pointed to potential arbitrage opportunities, shedding light on discrepancies in TUSD's prices on different platforms. 

The situation raises concerns about real-time attestations of TUSD's reserves, adding fuel to the ongoing debate around stablecoin reliability.

SEC vs. Do Kwon! ⚖️ [Source][Source][Source]

Embark on a legal journey as the U.S. Securities and Exchange Commission (SEC) becomes a player in the extradition chess match involving Do Kwon, co-founder of Terraform Labs. The SEC aligns with Kwon's legal team, urging a trial delay until after Kwon's extradition, citing logistical challenges. 

The trial, initially scheduled for January 29, may see a potential postponement to March 18, showcasing the intricacies of cross-border legal proceedings. While the legal wheels turn, the SEC opposes severing Kwon's case from Terraform's, emphasizing efficiency and resource optimization. 

The backdrop of a "multi-billion dollar crypto asset securities fraud" adds a layer of complexity to this legal saga. As Do Kwon's fate hangs in the balance, the crypto community watches this high-stakes legal drama unfold, contemplating its potential impact on regulatory approaches in the ever-evolving crypto landscape.

Ubisoft and Wemix Gaming Giants Unite! 🎮 [Source][Source]

Join the ranks of gaming innovation as major video game publisher Ubisoft partners with Korean game publisher WeMade's Wemix blockchain. Ubisoft, renowned for titles like Assassin's Creed and Rainbow Six: Siege, joins Wemix's blockchain node council, running validator nodes for the Ethereum-compatible EVM blockchain. This partnership propels Wemix 3.0 into the spotlight, showcasing a proof-of-stake authority consensus algorithm and a network of influential partners known as "Wonders."

Ubisoft's venture into blockchain gaming continues its journey into the crypto realm, following earlier forays into NFTs and blockchain nodes. As the gaming industry merges with blockchain technology, Ubisoft's commitment to Wemix hints at the transformative potential of this collaboration.

Mercedes-Benz Transforms Driving Experience with NFTs and Emotional AI! 🚗💬 [Source][Source]

The German automaker, Mercedes-Benz, introduces an updated MBUX Virtual Assistant, fueled by generative AI and boasting an NFT gallery. 

This virtual assistant, operating on the next-gen Mercedes-Benz Operating System (MB.OS), introduces "emotional profiles," allowing the AI to interact in natural, predictive, personal, and empathetic modes.

Mercedes-Benz pioneers a human-like interface, leveraging OpenAI's ChatGPT for a personalized touch. The MBUX Assistant adapts to drivers' preferences, from radio station choices to ambient settings, creating a tailored driving experience. The integration of an NFT gallery and MBUX Collectibles app adds a crypto flair, allowing drivers to showcase their NFT collections on the vehicle's dashboard.

🔍 Industry Insights: 

HashKey Attains Unicorn Status! 🦄💰 [Source][Source]

Celebrate a milestone in the crypto realm as Hong Kong-based crypto exchange HashKey attains unicorn status after a triumphant Series A funding round, raising nearly $100 million. 

With a pre-money valuation surpassing $1.2 billion, HashKey emerges as a prominent player in the crypto exchange landscape. The funding, backed by institutional and Web3 investors, signals a significant vote of confidence in HashKey's multifaceted business arms, including asset management, node validation services, tokenization, and Web3 incubation.

Rumors circulate about OKX Ventures, the investment arm of crypto exchange OKX, being among the lead investors, adding intrigue to HashKey's success story. This funding injection propels HashKey into unicorn territory, underscoring the growing prominence of crypto exchanges in the global financial landscape. The crypto community anticipates the ripple effects of HashKey's unicorn status, reflecting the industry's dynamism and investor enthusiasm.

Today’s Sponsor:

With the last weeks drama unfolding around Ledger Wallets being hacked, many people are looking for a safe hardware wallet to store their crypto.

This week we have partnered with Trezor.

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😂 Crypto Meme of the Day: 

And that’s it for this today.

With all of the recent hacks taking place, remember to protect your crypto assets with today’s sponsor Trezor hardware wallets.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com