The TCB Weekly News Roundup, ending 11 December 2022

What a week! The legal aspect of the FTX fallout continues to progress, CBDCs are making headlines, the companies affected by the fallout of FTX make moves, and bitcoin miners deal with the shakeout of low prices and high difficulty.

Enjoy and be well, Everyone.

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The Week’s Posts
What Bitcoin Did: “The Future of Bitcoin Banking with Bill Barhydt”

Read With Me: Andreas Antonopoulos – “The Internet of Money” Chapter 8: Bitcoin Design Principles

NYDIG – A Weekly Digest of Bitcoin News & Insights

This Week In Twitter


Adoption, Implementation and Infrastructure
Strike partners with Bitnob to facilitate cross-border payments into Africa
SEBA Bank partners with HashKey for institutional crypto adoption
Payments Giant Stripe Launches Cash To Crypto Web3 Service

CBDCs (are just Surveillance Tokens)
Some Central Banks Reportedly Looking to Issue a CBDC Within 10 Years
Pakistan launches new laws to expedite CBDC launch by 2025
Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC
Central bank plans to make CBDC ‘only legal digital tender’ in Indonesia, says gov
Australian CBDC receives unexpected interest but could hurt banks: RBA
Spain’s central bank to experiment with wholesale CBDCs

A year after Taproot, Bitcoin community works to unlock its DeFi potential
Bitcoin’s Lightning Network Could Be Getting a Privacy Upgrade
What’s in and what’s out for Ethereum’s Shanghai upgrade
Bernstein Says Saving Grayscale Will Come at a Cost for Digital Currency Group
Lawsuit Against Grayscale Likely To Drag On
Grayscale Bitcoin Trust Discount Widens to Record High Near 50%
Crypto Bank Silvergate Asked To Detail Records of Purported FTX Ties
BlockFi employees were discouraged from describing risks in internal communications Releases Proof-of-Reserves Data Showing Client Assets Are Fully Backed
FTX / Alameda
How Wide Does FTX Contagion Spread? The Affected Companies So Far
FTX reportedly gets 3 more months to stop all operations in Japan
Alameda’s capital portfolio reveals highest token investments in Polygon, Hole, and Port Finance
Earth to Reporters: Why Is No One Asking SFB What Happened to the $3.3 Billion He Borrowed?
Who’s expected to testify before Congressional hearings on FTX?
Kevin O’Leary lost the $15M he was paid to be FTX’s spokesperson
Celsius gets extension for chapter 11 reorganization plan
Celsius Gets Cash Infusion From Prime Trust as Scammers Target Customers
Three Arrows

Novogratz’s Galaxy Digital acquires Celsius’s GK8 in a bankrupt garage sale
Everyone and Everything Else…
Court approves issuance of subpoenas to 3AC co-founders
Nexo to Depart US After Regulator Discussions Hit ‘Dead End’
Crypto Services Firm Prime Trust Replaces CEO Tom Pageler
LINK staking in community pool filled within the first 2 hours (Chainlink implemented Staking on the network)


DeFi CeFi and Lending
This Week In DeFi – December 9
-Fir Tree fund sues Grayscale in effort to force changes to Bitcoin Trust



Hut8, Riot, Marathon increase BTC holdings in November after large declines Zeynep Geylan
Shares of Bitcoin Miner Argo Blockchain Suspended in UK and US
Kentucky to scrutinize contracts offering cheaper electricity to miners
Bitcoin Miner Gridless Raises $2 Million
New evidence 52.2% of Bitcoin Network uses clean energy

Nation States (and other political jurisdictions)
El Salvador buys back sovereign bonds to reduce debt
Iran set to freeze bank accounts of women who refuse to wear a hijab

NFTs / Metaverse / Web3 / DAOs
Malta prepares to revise regulatory treatment of NFTs
As OpenSea Flexes Marketplace Influence, Some Users Are Worried
Chinese court says NFTs are virtual property protected by law
Apple Wants to Tax Ethereum
$1.3T Asset Manager Exploring Use Cases for NFTs

Regulation, Legislation & Legal Matters
US DOJ reportedly investigating FTX CEO for siphoning funds out of the US
Gensler’s approach toward crypto appears skewed as criticisms mount
Ripple, SEC Final Briefs Provide Case Summary
Crypto consumer protection, proof-of-reserves bills introduced into US Congress
EU’s McGuinness Urges Speedier Vote on Long-Delayed Crypto Laws
FinCEN Invites Bankers To Assess DeFi Risk
ECB official proposes ban on tokens with an ‘excessive ecological footprint’

India Looks to Coordinate Global Crypto Rulemaking as It Assumes G-20 Presidency
Hong Kong to subject crypto exchanges to the same laws governing TradFi

Circle To Stay Private for Now as Rivals Gain Market Share
USDC could get access to Fed’s RRP via BlackRock partnership
Coinbase takes a shot at Tether, encourages users to switch to USDC


Wall Street and Big Money
Institutional investors still eye crypto despite the FTX collapse
Goldman Sachs reportedly looking to buy crypto firms after FTX collapse

Time Capsule

Outside News

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