The TCB Weekly News Roundup, ending 8 January 2023 – The Worst is Almost Past Us

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.



Earn rebates paid in bitcoin by using the app to buy gift cards, and using the debit card for everyday purchases.


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


Send cash instantly around the world at no cost. 1% fee for buying bitcoin. Easily set up recurring buys.


coinbase

If you’re new to crypto, Coinbase is the easiest exchange to start with.

res-binance

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

Changelly is a good option for exchanging coins without having to use an exchange


lolli logo

Earn bitcoin when you shop online using Lolli


teepublic logo

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


brave-logo

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


Exodus-Logo side

Download the Exodus wallet for you PC and smartphone

coinami

Download the Coinami wallet for your PC and smartphone



Categories: Weekly Headlines

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