Lots of news across the board this week. A year from now, I don’t expect the Digital Currency Group to exist as the business entity is today, if it exists at all.
Coin and token prices also made a pump. Don’t get too excited- we’re still going to be moving sideways for some time, but at least the price range is being established and in time we’ll learn what the breakout point is.
To put on the record, I’m thinking that by the end of 2024, the price of one bitcoin will have crossed USD$100,000 (whether it is there at the time point is unknowable.)
If you stack, just keep stacking. If you don’t stack, keep learning.
Enjoy and be well, Everyone.
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The Week’s Posts
Tuesday Post- Via Medium: I DO NOT WANT YOU TO BUY BITCOIN
Thursday Post- Video: Andreas Antonopoulos – “The Internet of Money” Chapter 10: Elements of Trust: Unleashing Creativity
Reports:
NYDIG: 2022 Review and Look Ahead
This Week In Twitter
Headlines
Adoption, Implementation and Infrastructure
–MAJOR UKRAINIAN PHARMACY CHAIN ENABLES BITCOIN PAYMENTS
–PayPal Xoom adds cross-border remittance on debit card deposit
–Nigerian innovator launches first active Bitcoin Lightning node in the country
–Huobi and Solaris crypto-to-fiat debit card launches in the EU
CBDCs (are just Surveillance Tokens)
–Mexico CBDC likely delayed beyond 2024
COMPANIES & PROTOCOLS
Eth
–Number of Staked ETH Passes 16M
–Sanctions couldn’t ‘pull the plug’ on Tornado Cash: Chainalysis
Cardano
–Cardano ecosystem set to expand with custom-built sidechains
Wyre
–Crypto payments platform Wyre lifts 90% withdrawal cap
FTX
–FTX former lead engineer in talks with federal prosecutors in Bankman-Fried case
–FTX units on auction block draw 117 interested buyers: Court filing
–Major media want answers: Who guaranteed Bankman-Fried’s $250M bail?
–SBF reveals his side of the FTX story, blames CZ, targeted attack against FTX
–FTX has recovered over $5B in cash and liquid crypto: Report
FTX Fallout
–Gemini Terminates Its Crypto Yield Product, Amping Up Battle With Genesis
–BlockFi Creditors Battle to Keep Their Details Secret
–BlockFi plans to file assets and liabilities for bankruptcy case on Jan. 11
–FTX Loan Wiped Out $800M in BlockFi Executives’ Equity, Filings Reveal
–DCG chief Barry Silbert pens letter to shareholders, community reacts
–Breaking: DCG owes creditors over $3B, considering $500M VC portfolio sale
–Dutch exchange Bitvavo rejects DCG’s proposal to repay 70% of debt
–FTX Creditor Claims Going for 13 Cents on the Dollar on Bankruptcy Marketplace
CRIMES AND SCAMS
–HEX founder Richard Heart teases coming PulseChain launch [There may be intent to make an ecosystem, but if HEX is any indicator, it’s another room in a user-enrichment model]
–Scam alert: MetaMask warns crypto users about address poisoning
–BitConnect victims will receive $17 million: DOJ
DeFi CeFi and Lending
–This Week In DeFi – January 13
–WSJ: Risk Management at Crypto Firms Is in Focus Following FTX Collapse
–Judge Allows Binance US Bid to Buy Voyager Assets to Advance
–Hodlnaut creditors reject the restructuring plan, prefer liquidation
–Celsius Mining to sell 2687 BTC mining rigs for $1.34M
–Nexo offices raided on allegations of financial crimes
Exchanges
–Coinbase to cut another 20% of its workforce in the second wave of layoffs
–Coinbase Junk Bonds Further Downgraded by S&P on Weak Profitability, Regulatory Risks
–Coinbase Could Be One of Crypto’s Long-Term Survivors: Oppenheimer
–90% of WazirX’s User Assets are in Binance Wallets, According to Proof Of Reserves Report
–Uphold exchange denies owing millions to failed crypto lender Cred
–Crypto Brokerage Blockchain.com Lays Off 28% of Workforce as Industry’s Cruel Winter Continues
GOSSIP
–91% OF CRYPTOS FROM 2014 HAVE DIED, WHILE BITCOIN CONTINUES TO THRIVE
–Bitcoin SV Drops as Robinhood Ends Support. Finally
Mining
–Argo Blockchain’s Bitcoin Mining Margin Widens Most In at Least a Year
–CANADA HAS DECLARED A LOCAL WAR ON BITCOIN MINING
–Mining Bitcoin at home — Is it time to start?
–ONE OF AMERICA’S LARGEST HEMP PROCESSORS MAKES ENTRY INTO SUSTAINABLE BITCOIN MINING
Nation States (and other political jurisdictions)
NFTs / Metaverse / Web3 / DAOs
–Nifty News: ‘Degen’ season returns with feet NFTs, disappointing Game of Thrones NFTs and more
–NFT gaming trends in 2023: Industry execs expect more big players to jump in
Regulation, Legislation, Legal Matters & Taxation
USA/Europe
–US House Republicans plan to establish crypto-focused subcommittee: Report
World
–Nigeria to create the stablecoins and ICOs legal framework
–Proposed bill in Argentina encourages citizens to reveal crypto holdings
–Gemini and Genesis charged by SEC with selling unregistered securities
–El Salvador passes landmark crypto bill, paving way for Bitcoin-backed bonds
STABLECOINS
–Nearly 65% of USDC reserves are held in US Treasury bills
–Crypto.com delists USDT for Canadian users following OSC ban
Taxation
Wall Street and Big Money
Note –> https://bitcointreasuries.net/
Note –> https://www.buybitcoinworldwide.com/treasuries/
–Bitcoin CME Futures Draw Premium for the First Time Since FTX’s Collapse
–Samsung investment arm to launch Bitcoin Futures ETF amid rising crypto interest
–Silvergate hit with another class-action suit, this time for securities law violations
–POTENTIAL PATHS FORWARD FOR THE GRAYSCALE BITCOIN TRUST
Time Capsule
Outside News
You Do Not Change Bitcoin. Bitcoin Changes You.
“Bitcoin will eat the world.” And it is.
Recommended Viewing
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Categories: Weekly Headlines
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