This week Silvergate bank got hit with a run on deposits and their stock price took a hit, the Digital Currency Group is looking more and more like it’s going to file for bankruptcy, and Binance’s solvency continues to be an unanswered question. I think once the DCG drama is in motion and we find out what Binance’s dirt is (and THAT unfolds) we’ve reached the end of the Luna/FTX fallout damage (there may be a few peripheral incidents, and we’ve yet to see what happens with Gemini and their Earn program, but the big stuff would be out of the way.)
Enjoy and be well, Everyone.
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The Week’s Posts
Research Report: Coin Bureau: “US Digital Dollar CBDC Tests are HERE! What Happened?!”
Thursday Post- Tomer Strolight: “Why Bitcoin, The Series, #20: Why Bitcoin is So Complicated”
Reports:
NYDIG – A Weekly Digest of Bitcoin News & Insights
New TCB Medium Posts
I DO NOT WANT YOU TO BUY BITCOIN
This Week In Twitter
Headlines
Adoption, Implementation and Infrastructure
–Lightning Network gets physical form in Australia with Bitcoin ATM
CBDCs (are just Surveillance Tokens)
–CBDCs: digital wolves in sheep’s clothing?
COMPANIES & PROTOCOLS
Ethereum
–Ethereum Devs Opt For Withdrawals in March — And Nothing Else
Solana
–Solana is in trouble – Bankless
Digital Currency Group
–Silbert’s DCG is being investigated by DOJ, SEC over internal transactions
FTX
–US authorities launch page to notify FTX’s alleged victims about SBF’s case
–FTX debtors and Bahamas liquidators settle on asset recovery strategy
–US authorities are seizing $460M in Robinhood shares tied to FTX: Report
FTX fallout
–Fir Tree Sued Grayscale. Now, GBTC’s Overseer Is Retaliating
–Silvergate gets more bad news as Moody’s slashes its ratings
–Silvergate Shares Plunge After Withdrawals Top $8.1 Billion During Crypto Meltdown
–Silvergate sold assets at loss and cut staff to cover $8.1B in withdrawals: Report
–Crypto lender Genesis lays off 30% more staff: Report
–Judge rules Celsius owns funds in Earn accounts, paving the way for stablecoin sale
–Crypto firm Wyre to shut down, following failed Bolt deal
–Wyre imposes up to a 90% withdrawal limit for all users
CRIMES AND SCAMS
DeFi CeFi and Lending
–This Week In DeFi – January 6
–December DeFi exploits were the lowest in 2022: Finance Redefined
–DeFi security losses rose 47.4% in 2022 to hit $3.64B: Report
–What is institutional DeFi, and how can banks benefit?
Exchanges
Binance
–Hedge funds subpoenaed by U.S. prosecutors as Binance probe unfolds
–SEC files objection to Binance.US’s plans to acquire Voyager Digital
GOSSIP
–Stagnant BTC reached 15 million BTC, unmoved in 6 months
–FTX collapse may boost ‘further trust’ in crypto ecosystem — Nomura exec
Mining
–BlackRock Gives Bankrupt Bitcoin Miner Core Scientific New $17M Loan [The spider’s web grows in reach]
–Marathon Digital experiments with overclocking to increase competitive advantage
–Bitcoin miner Hut 8 registers sequential drop in Bitcoin production
–1.5M houses could be powered by the energy Texas miners returned
Nation States (and other political jurisdictions)
NFTs / Metaverse / Web3 / DAOs
–Tax-Loss Harvesting Platform Unsellable is Building ‘The World’s Largest Collection of Worthless NFTs
Regulation, Legislation, Legal Matters & Taxation
USA/Europe
–FTX, Congress, Stablecoins: What 2023 May Bring for Crypto Regulations – COINDESK
–Morocco finalized crypto regulatory framework: Central Bank
STABLECOINS
Taxation
Wall Street and Big Money
KEEP AN EYE ON THIS –> https://bitcointreasuries.net/
AND THIS –> https://www.buybitcoinworldwide.com/treasuries/
–Tax attorney breaks down the MicroStrategy Bitcoin sale
Time Capsule
Outside News
–US Services PMI In Contraction For 6th Straight Month In December
You Do Not Change Bitcoin. Bitcoin Changes You.
“Bitcoin will eat the world.” And it is.
Recommended Viewing
SWAN BITCOIN – 1% FEE FOR BUYING BITCOIN AND EASILY SET UP RECURRING BUYS
The app that let’s you buy/sell/trade cryptos, earn yields on crypto deposits and take out a crypto-backed loans
If you’re new to crypto, Coinbase is the easiest exchange to start with.
Older posts had a referral link- my message now is to use at your own risk and don’t leave any token or coins in their custody you cannot afford to lose
Changelly is a good option for exchanging coins without having to use an exchange
Earn bitcoin when you shop online using Lolli
Get crypto-themed shirts, stickers, mugs and more at Teepublic
Download the Brave browser and block unwanted ads and earn rewards while you browse online
Download the Exodus wallet for you PC and smartphone
Download the Coinami wallet for your PC and smartphone
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