The Balance, a wellness center based in Switzerland, has begun offering services aimed at combating addiction to cryptocurrency trading.
According to the BBC, The Balance has long treated alcohol and drug addictions as well as behavioral health.
Treatment at the center includes a four-week stay, therapy, massage and yoga. The cost to stay in such a rehab would be about $75,000.
Diamond Rehabilitation, a wellness center in Thailand that has been operating since 2019, has also added services, for rehabilitation and treatment of cryptocurrency addiction.
The organization said it approaches rehabilitation using cognitive behavioral therapy, motivational interviewing and psychodynamic theory in a comprehensive, multi-step approach to help traders overcome their addiction.
Scottish Castle Craig Hospital, which has been treating high adrenaline crypto-traders since 2018, said it has seen more than 100 clients with “dangerous” mental problems related to digital assets.
Such rehabs estimate that about 1 percent of traders are predisposed to extreme addiction to cryptocurrency trading.
According to CoinDesk, Digital Currency Group (DCG) and credit platform Genesis have reached an initial agreement on a restructuring plan in bankruptcy proceedings.
The agreement calls for the winding down of Genesis’ credit book and the sale of legal entities owned by the platform.
In addition, the deal includes a $100 million bitcoin loan refinancing for DCG and a $500 million loan.
Cryptocurrency exchange Binance will temporarily suspend bank transfers in U.S. dollars, starting February 8.
According to the exchange, only 0.01% of active users per month use this type of transaction.
In turn, this restriction will not affect users of Binance US.
The cryptocurrency exchange Binance introduced a tool to calculate tax liabilities for cryptocurrency transactions.
The service can analyze up to 100,000 transactions and is initially available to users in Canada and France.
The exchange has plans to expand the service to other regions.
“With one click, you can now import your Binance transactions into our calculator and get a simple but comprehensive estimate of your tax liability based on your jurisdiction,” the company said.
Uniswap community members voted to deploy Uniswap v3 on Boba Network.
The network development team believes that this will allow Uniswap to reach key Asian markets, as the Boba Network is quite popular in South Korea and is gradually expanding in Japan.
Louis Vuitton is partnering with Japanese artist Yayoi Kusama to launch a collection of 10,000 NFTs to celebrate its bicentennial.
NFTs will be convertible into physical products.
The value of one collection token will be about 4 ETH.
South Korea’s regulator has expanded the definition of what tokens are considered securities.
The Financial Services Commission (FSC) said that digital assets that give a stake in business transactions, rights to dividends or a share of corporate profits are recognized as securities.
According to the FSC, digital asset service providers, including cryptocurrency exchanges, will be responsible for evaluating and placing such digital securities.
In turn, companies that do not follow the procedures for issuing securities will be found to be in violation of the law and subject to sanctions.
FTX Group said it is sending letters to politicians to whom Sam Bankman-Fried donated, asking them to return the money by Feb. 28.
The amount of donations is approximately $93 million.
The Huobi exchange will list a FUD token that is tied to FTX users’ debt.
The issuer of the token will be DebtDAO.
FTX debt will be sold at $1 during the early issuance phase, with an initial FUD issuance of 20 million coins.
After FTX confirms the actual amount of debt, DebtDAO will issue additional tokens proportional to the confirmed amount of debt and distribute them to all FUD holders via airdrop.