Top stories:
- This week SBF was taken into custody in the Bahamas and legal proceedings are in motion.
- We see more post-fallout movements, bailouts and recovery efforts.
- Is Binance skirting a risk of an asset run? Possibly. If you have coins or tokens being held in custody by Binance (or any other exchange,) download a crypto wallet and take custody, sooner rather than later. See also: avoiding third-party risk
Comments and suggestions, reach out -> hello @ tinycryptoblog.com
Be well, Everyone.
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This Week’s Posts
Natalie Brunell and Sam Callahan: Did GBTC Spark the Crypto Contagion? Full DCG/Genesis/GBTC Explainer
The Cost of Crypto Podcast- Episode 30 – Bitcoin is a Safe Haven & FTX Highlights Third-Party Risk
Tomer Strolight: “Why Bitcoin, The Series, #19: Why Bitcoin is Worthy of Being Loved”
Reports:
This Week In Twitter
Headlines
Adoption, Implementation and Infrastructure
–Bitcoin Lightning Network to be used in fiat transfers between EU and Africa
–PayPal Working With Crypto Wallet MetaMask to Offer Easy Way to Buy Crypto [It’s still a centralized platform that geo-blocks]
–Binance.US finally rolls out mobile payments service to US customers
CBDC (are just Surveillance Tokens)
–Kazakhstan central bank recommends a phased CBDC rollout between 2023-25
–Why Hong Kong Is Pushing for Its Own Central Bank Digital Currency
COMPANIES AND PROTOCOLS
–Algorand to support bank and insurance guarantees platform in Italy
–Genesis liquidation could force DCG bankruptcy – The Chopping Block reports
–Paxful to delist Ethereum following push for integrity post-FTX
CRIMES AND SCAMS
DeFi CeFi and Lending
–This Week In DeFi – December 16
Exchanges
–Bybit joins trend, releases Merkle Tree-verified proof of reserves
BINANCE
–Justin Sun deposits $100 million to Binance amid FUD campaign
–Binance net withdrawals topped $3.6B over the last 7 days
–Binance sees the largest outflow of stablecoins in 24 hours
FTX
–Only 3 FTX Execs Could’ve Sent User Funds to Alameda: Co-CEO
–SEC charges former FTX CEO SBF for defrauding investors a day after his arrest
–FTX was an ‘utter failure of corporate controls at every level of an organization’, says new CEO
–FTX debtors attempt to seal corporate identities to obfuscate bankruptcy proceedings
–Alameda had ‘unfair’ trading advantage, special access to FTX funds: CFTC filing
–Global Squabbles Erupt Around the World Over the Remaining Crypto Assets of FTX – MishTalk
–FTX wants permission to sell FTX Japan and FTX Europe as well as LedgerX
–BitGo declined Alameda’s attempt to redeem 3,000 WBTC
–Silvergate faces class-action lawsuit over FTX and Alameda dealings
GOSSIP
–SBF planned to blame everyone but himself, shows leaked Congress testimony
–Crypto blame game back on US politicians’ menu following SBF arrest
Mining
–Argo Blockchain reports insufficient funds, ‘no assurance’ it can avoid Chapter 11 bankruptcy
–Microsoft bans cryptocurrency mining on cloud services
–Bitcoin Miner Core Scientific’s Lender Wants to Give Miner $72M to Avoid Bankruptcy
Nation States (and other political jurisdictions)
NFTs / Metaverse / Web3 / DAOs
–Apple to allow third-party app stores in windfall for NFTs and crypto
Regulation, Legislation, Taxation & Legal Matters
–Coinbase report shows dramatic increase in law enforcement enquiries worldwide
USA/EUROPE
–SEC looks to intercept Grayscale Bitcoin ETF review bid
–FSB to lay out global standards for crypto regulation
–FTC opposes Microsoft’s metaverse-focused Activision Blizzard purchase
–$75M worth of FTX’s political donations at risk of being recalled due to bankruptcy
–US senator calls on SEC’s Gensler to answer for ‘regulatory failures‘ HE SAID IN A VDEO INTERVIEW LAST WEEK THAT HE HAD ALL THE TOOLS HE NEEDED
–CFTC declares Ether as a commodity again in court filing
ASIA
–Japan set to ease 30% crypto tax on paper profits for token issuers
STABLECOINS
–Tether to reduce secured loans to zero in 2023 amid battle against FUD
–Jewel Bank, Polygon to launch Bermuda’s first USD-backed stablecoin
The Wall Street
KEEP AN EYE ON THIS –> https://bitcointreasuries.net/
…AND THIS –> https://www.buybitcoinworldwide.com/treasuries/
–SEC approves 9 more WisdomTree ‘blockchain-enabled’ funds
Time Capsule
Outside News
You Do Not Change Bitcoin. Bitcoin Changes You.
“Bitcoin will eat the world.” And it is.
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Categories: Weekly Headlines
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