According to official news, Grayscale announced the quarterly update of the component weights of multi-asset cryptocurrency index funds GDLC, DEFG and GSCPXE. Following this rebalancing, AVAX has been removed from the CoinDesk Large Cap Select Index and the Grayscale Digital Large Cap Fund (GDLC). As of January 5, 2023, assets held by the fund include BTC, ETH, ADA, SOL, and MATIC. Meanwhile, ALGO has been removed from the CoinDesk Non-Ethereum Smart Contract Platforms Select Index and the Grayscale Non-Ethereum Smart Contract Platforms Fund (GSCPxE). As of January 5, 2023, the fund's holdings include ADA, SOL, MATIC, DOT, AVAX, and ATOM. Additionally, SNX was reintroduced into the CoinDesk DeFi Select Index and the Grayscale DeFi Fund (DEFG) Index, whose other holdings as of January 5, 2023 include UNI, AAVE, MKR, CRV, and COMP.

According to CoinDesk, Ark Invest, an asset management company founded by Cathie Wood, added a total of 172,276 shares of Coinbase stock through two funds, worth about $5 million. Coinbase shares closed at $33.53 in New York on Thursday, down 11 percent and 7 percent. The stock is down nearly 90% in 2022.

Authorities at the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, as well as prosecutors, are investigating former FTX engineering director Nishad Singh for his role in defrauding investors and users, Bloomberg reported. Singh could be indicted this month if federal prosecutors in Manhattan find he was involved in an alleged multiyear scheme by FTX and Alameda Research to defraud investors and clients, a person familiar with the matter said.

New York Attorney General Letitia James is suing former Celsius Network CEO Alex Mashinsky, accusing him of defrauding hundreds of thousands of investors by making false statements about the state of the company to encourage a steady flow of money, according to Bloomberg. Many creditors have written to the judge saying Mashinsky misled them about the risks involved in the company.

Cryptocurrency exchange Coinbase agreed to pay a $50 million fine after financial regulators found it violated anti-money laundering laws by allowing customers to open accounts without adequate background checks, the New York Times reported. The settlement with the New York State Department of Financial Services, announced Wednesday, also calls for Coinbase to invest $50 million to bolster its compliance program, which is designed to prevent drug dealers, child pornography sellers and other potential offenders from opening accounts in the state.

Bitcoin mining company Bitfarms released an update on production and operations for December 2022. 496 bitcoins were dug up in December, and a total of 5,167 bitcoins will be mined in 2022, a year-on-year increase of 50%. Additionally, Bitfarms sold 1755 BTC in December 2022 for a total proceeds of $29.9 million. As of December 31, 2022, Bitfarms' online computing power is 4.5 EH/s, an increase of 105% compared to December 2021; it holds approximately US$31 million in cash and cash equivalents.

Gemini co-founder Cameron Winklevoss sent an open letter to DCG founder Barry Silbert. In the letter, Winklevoss argues that he has been employing dishonest delay tactics and not cooperating with the process. Winklevoss asked him to give a solution to repay the more than 900 million dollars owed, hoping that he can solve the problem before January 8, "We are ready and willing to cooperate with you, but time is running out." Cameron said, DCG owes Genesis is approximately $1.675 billion. This is the money Genesis owes Earn users and other creditors.

From January 1, 2023, the United Kingdom will implement a tax exemption policy for foreign investors who appoint local brokers or investment managers to invest in cryptocurrencies. HMRC said the tax exemption was an important factor in attracting global investors, meaning foreign investors would not be brought under UK tax simply by appointing a UK investment manager. In an effort to cement the UK's status as an investment management hub, the exemption has been extended to include crypto assets so that crypto-related funds do not delay the appointment of UK managers.

According to The Block, SushiSwap's new CEO Jared Gray announced a new token economics proposal aimed at increasing liquidity, creating more utility for its native token SUSHI, and maximizing value for stakeholders. The formal proposal stated that "like the xSushi model that was originally hoped to be realized, the main goal of the new economics is to promote decentralized ownership and reward liquidity growth through a holistic and sustainable reward mechanism that scales with volume and fees .” The proposal outlines four key changes to the protocol’s token economics. The biggest change is that staking SUSHI (xSushi) will no longer receive transaction fee income rewards, but emission-based rewards. The liquidity provider of the trading pool with the largest trading volume will receive most of the Swap fee. Additionally, users can opt for a new time-lock mechanism to increase rewards. The floating ratio transaction fee will also be used to repurchase and destroy SUSHI from the open market, and lock in liquidity to provide more price support. The last change is to adjust the emission of SUSHI to 1-3% per year to reduce inflation and strike a balance between overall emission and repurchase, destruction and locked liquidity.