The Block

Quick Take China’s industrial ministry said it plans to formulate strategy documents to boost NFT and decentralized app development.

Ark Invest sold another 34,261 Coinbase shares on Tuesday — worth around $5.5 million — following the $59 million in COIN it sold last week.COIN reached new yearly highs yesterday.Ark also offloaded Robinhood shares, selling 121,100 ($1.6 million).

Quick Take “The Global Settlement Agreement reflects a novel and mutually-beneficial solution to the complex cross-border legal issues raised by the circumstances of the collapse of the FTX group,” the debtors said in a statement.

Quick Take Galaxy’s Digital’s assets under management tripled within the last year from $1.7 billion to $5.3 billion, the Financial Times reports.

Quick Take The founder of the privacy-focused cryptocurrency Zcash, Zooko Wilcox, is stepping down from role as CEO of Electric Coin Co. Josh Swihart, the SVP of Growth for Electric Coin Company and Zcash’s development firm, has become the new CEO.

Quick Take Tap Protocol, a Bitcoin Ordinals-based development platform, raised $4.2 million in a round led by Sora Ventures. German-based parent company Trac Systems plans to use the investment to enable more types of applications on Bitcoin, from gaming to DeFi.

Quick Take A Montenegro court has canceled the approval of Do Kwon’s extradition to South Korea and the U.S. Last week, Bloomberg reported that Do Kwon’s detention in Montenegro was extended until mid-February amid his extradition appeal.

Quick Take BlackRock’s proposed spot bitcoin exchange-traded fund now has a ticker: IBIT. Updated filing includes new language about the fund’s creation and redemption model.

Quick Take Under the settlement, former CEO Changpeng Zhao will have to pay $150 million, with a third of that paid within the next 30 days, according to the order signed on Dec. 14 by Judge Manish Shah in the U.S. District Court for the Northern District of Illinois.

Quick Take The UK has introduced new regulations for supervising the nation’s Digital Securities Sandbox.