The latest price movements of the cryptocurrency markets in the context of January 6, 2023. 

Former FTX CEO Sam Bankman-Fried is trying to retain control of the $450 million shares of the Robinhood Markets (HOOD) trading app. The 56 million shares, held in principle by "Bankman-Fried" and FTX co-founder Gary Wang through a holding company called Emergent Fidelity Technologies, are the subject of a complex legal The battle also includes bankrupt crypto lender "BlockFi" and the US Department of Justice. In a filing filed with a U.S. bankruptcy court in Delaware, FTX said the shares were only nominally owned by Emergent Fidelity and should be frozen until they can be fairly shared among FTX's creditors. Bankman-Fried opposed the idea in a lawsuit on Thursday, arguing that he and Wang legitimately bought the shares using money borrowed from FTX's trading arm, Alameda Research and that the loan was documented.

Digital Currency Group, the cryptocurrency conglomerate whose division Genesis Global Trading on Thursday announced several layoffs, said it was closing its wealth management division called HQ. Due to the broader economic situation and the long cryptocurrency winter having significant impacts on the industry we have made this final decision to liquidate. The company announced in a statement Core Office as of January 31. DCG is also considered the parent company of "CoinDesk".

The price of the throne, the 18th largest token after stock market capitalization, collapsed on Friday amid tensions generated by the Huobi cryptocurrency exchange as the wider cryptocurrency market remained steady. "Justin Sun", who is the founder of Tron, serves on the advisory board of Huobi. The stock market said Friday it would reduce its headcount by 20% and also shut down internal staff communication channels to quell a rebellion, according to reports on Twitter. TRX has dropped nearly 8% in the last 24 hours, the data shows. Huobi native HT exchange tokens have lost as much as 11% in the last 24 hours. Tron's problems come amid the crypto winter and ahead of the U.S. job report for December, which is due to be released at 8:30 a.m. ET on Friday.

Day Chart 

The chart compares trading volume in the non-fungible tokens (NFT) market with the year-on-year rate of change in personal income in the US.

Personal revenues increased NFT trading volumes between October 2020 and October 2021.

'NTFs, which are a high-risk subsector within a high-risk market, should be susceptible to the rate of change in personal income. Higher inflation and modest real wage growth have been the perfect cocktail for lower disposable income, Lewis Harland, portfolio manager at Decentral Park Capital, said in a 2022 review note.

This model implies that a low or negative rate of personal income of change can prevent the significant adoption of NFT. We are unlikely to see new monthly NFT ATHs (all-time highs) in 2023 if a global recession plays out," Harland added.

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