This Week in Crypto 1/3/23

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In RockItCoin’s effort to empower individuals in the cryptocurrency space, we have extracted top industry stories for your Weekly Digest. Cryptocurrency continues to dominate the news and here are some key happenings you should know.

New Bitcoin Charity Event to Benefit ALS Association
The crypto community is getting a chance to participate in a charitable event that benefits a good cause! Fran Finney, wife of Bitcoin contributor Hal Finney, announced “Running Bitcoin”; an event to benefit the ALS Association with a Bitcoin theme. Finney was diagnosed with ALS in 2009, and passed away from the disease in 2014, becoming well-known as one of the first contributors to Bitcoin’s success. The name of the event comes from a 2009 tweet from Finney that read “running bitcoin”, referring to when he started running the network.

Participants are urged to “walk, roll, or hike” the length of a half-marathon (13.1 miles) before January 10th, 2023. Those who donate $100 or more get a free commemorative T-shirt, and the top 25 contributors get a collectible autographed by Hal Finney. So far, the event has raised over $25,000 of its $50,000 goal. If you’d like to participate, you can visit the website here.

US Department of Justice Investigating Stolen FTX Funds
The US Department of Justice is investigating approximately $372 million in crypto that was stolen from FTX shortly after the exchange filed for bankruptcy. According to the investigation, it isn\’t known whether the hack was done by an FTX employee or by an outside party. However, it is known that Former FTX CEO Sam Bankman-Fried had a “backdoor” in the exchange’s accounting software which allowed money to leave without reporting it to staff. Some funds were able to be frozen by prosecutors, but the hacker made off with over almost $300 million and is the 35th largest holder of Ethereum in the world.

Australia Becomes Fourth Largest Crypto ATM Hub in the World
Australia passed the Bitcoin-friendly country of El Salvador to become the fourth largest cryptocurrency ATM hub in the world with 225 cryptocurrency ATMs. El Salvador had previously installed over 200 ATMs countrywide in 2021 to push the adoption of Bitcoin after it was declared as legal tender by President Nayib Bukele. The last quarter of 2022 was big for Australia, with 99 ATMs being installed and now accounting for 0.6% of all crypto ATMs in the world. It’s exciting to see another country allowing crypto adoption, and Bitcoin ATMs bring it directly to the people!