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LocalBitcoins to Shut Down After 10 Years Amid Challenging Market Conditions

Bitcoin exchange LocalBitcoins has announced its closure after serving customers for more than 10 years, citing the ongoing bear market.

In a recent posting on its website, the exchange said it would be shutting down in the coming weeks due to tough market conditions. The platform said they reached this decision after efforts to overcome the current crypto winter did not come to fruition. It said:

"We are therefore sad to share, that regardless of our efforts to overcome challenges during the ongoing very cold crypto-winter, we have regretfully concluded that LocalBitcoins can no longer provide its Bitcoin trading service."

https://cryptonews.com/news/localbitcoins-shut-down-after-10-years-amid-challenging-market-conditions.htm

Dubai Takes a Stand Against Privacy Coins with Ban on Anonymity-Enhancing Crypto

Dubai's virtual asset authority has prohibited the use of privacy coins such as Monero (XMR) and ZCash (ZEC), as well as any activities related to the coins.

According to the new set of crypto regulations,

"The issuance of Anonymity-Enhanced Cryptocurrencies and all VA Activity[ies] related to them are prohibited in the Emirate."

Dubai Takes a Stand Against Privacy Coins with Ban on Anonymity-Enhancing Crypto Dubai's virtual asset authority has prohibited the use of privacy coins such as Monero (XMR) and ZCash (ZEC), as well as any activities related to the coins.

FTX New Management Sets February Deadline for Repayment of Political Donations Made by Executives

The new FTX management has requested political figures and any other recipients of donations made by Sam Bankman-Fried and other FTX executives to return the funds by the end of the month.

According to a Sunday press release, FTX debtors are sending messages to all recipients of contributions that were made by Bankman-Fried and other executives of the now-defunct cryptocurrency exchange, requesting the return of such funds by February 28, 2023. The announcement added: "To the extent such payments are not returned voluntarily, the FTX Debtors reserve the right to commence actions before the Bankruptcy Court to require the return of such payments, with interest accruing from the date any action is commenced."

https://cryptonews.com/news/ftx-new-management-sets-february-deadline-for-repayment-of-political-donations-made-by-executives.htm

Mastercard's NFT Product Lead Resigns, Leaves Behind a Surprising Farewell Gift

Satvik Sethi, the former Non-Fungible Token (NFT) Product Lead at Mastercard, has made a unique and fitting resignation announcement. On Thursday, Sethi surprised the NFT community by minting his resignation letter as an NFT, showcasing his expertise in the field and leaving a lasting impact.
"I have resigned from Mastercard," Sethi said to open his Twitter thread on the topic on February 2. He noted that, for the past year, he had served as the NFT Product Lead at the company, where he "evangelized Web3 for Mastercard leadership & regional teams, as well as all our Fortune 500 clients & partners."
Sethi decided to mint his resignation letter as an open-edition NFT on Ethereum via the digital collectibles protocol Manifold. This project is called "New Beginnings". The price is ETH 0,023, and 100% of the proceeds "go to survival," he said. By the time of writing, there were 64 total minted NFTs.
The letter spoke of Sethi's passion for Web3 and its potential, of valuable experiences gained at Mastercard and those that had led him to financial struggles.

Mastercard's NFT Product Lead Resigns, Leaves Behind a Surprising Farewell Gift Satvik Sethi, payments giant Mastercard's now-former non-fungible token (NFT) product lead, announced that the had resigned from this role on Thursday - but in a surprising and fitting move, he minted his resignation as an NFT.