The TCB Weekly News Roundup, ending December 2022 – SBF (Finally) In Custody, Binance Skirting A Run on Assets?

Top stories:

  1. This week SBF was taken into custody in the Bahamas and legal proceedings are in motion.
  2. We see more post-fallout movements, bailouts and recovery efforts.
  3. 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

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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”


This Week In Twitter


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

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


DeFi CeFi and Lending
This Week In DeFi – December 16

Bybit joins trend, releases Merkle Tree-verified proof of reserves
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
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

SBF planned to blame everyone but himself, shows leaked Congress testimony
Crypto blame game back on US politicians’ menu following SBF arrest

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
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
Japan set to ease 30% crypto tax on paper profits for token issuers

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
SEC approves 9 more WisdomTree ‘blockchain-enabled’ funds

Time Capsule

Outside News

You Do Not Change Bitcoin. Bitcoin Changes You.
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Changelly is a good option for exchanging coins without having to use an exchange

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Get crypto-themed shirts, stickers, mugs and more at Teepublic


Download the Brave browser and block unwanted ads and earn rewards whileen you browse online 

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Download the Exodus wallet for you PC and smartphone


Download the Coinami wallet for your PC and smartphone

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