The news this week dropped on Thursday when in the US, when the Security and Exchange Commission (SEC) charged that exchange Kraken was offering unregistered securities via its staking services. Minus ethereum staking, all products FOR UNITED STATES RESIDENTS will be unwound and coins returned to clients. THIS IS FOR THE UNITED STATES ONLY. PEOPLE LIVING ON THE REST OF PLANET EARTH CAN CONTINUE TO USE THEIR SERVICES.
Consensus and analysis of the action and possible fallout and future actions have yet to really roll in, so it remains to be seen if other exchanges operating in the US will end up doing the same. This also raises the question of what this means for US citizens and staking directly within the protocols (Charles Hoskinson did a short video digging through this very question. Post to follow. Stay tuned.)
There’s also lots of other news with FTX-fallout companies, and quite a bit of news on Tether.
Enjoy and be well, Everyone.
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The Week’s Posts
Tuesday Post- What Bitcoin Did: “The Fundamentals of Bitcoin’s Value with Phil Geiger”
Thursday Post- Andreas Antonopoulos – “The Internet of Money” Five Years Later
Reports:
This Week In Twitter
Headlines
SEC Chief Gensler Warns Crypto Firms to Comply With Rules After Kraken Shutters US Staking Program
Kraken to Shut US Crypto-Staking Service, Pay $30M Fine in SEC Settlement
After Kraken Crackdown, Are the Remaining Crypto Giants Staring Down the Barrel of the US Government’s Gun?
Adoption, Implementation and Infrastructure
–Brave Adds Support For Solana on iOS and Android
–Fireblocks Expands Non-EVM DeFi Access with TRON
-‘Multichain future is very clear’ — MetaMask to support all tokens via Snaps [just remember that MetaMask is centralized]
CBDCs (are just Surveillance Tokens)
–Gazprombank warns of losses stemming from launch of Russian CBDC
COMPANIES & PROTOCOLS
–Polygon Exploring Use of ZK Technology for Main Chain, Co-Founder Bjelic Says
–Chiliz launches layer-1 blockchain to expand fan token ecosystem
–BGD Labs Announces the Integration of Chainlink Proof of Reserve onto the Aave Protocol
Eth
–Ethereum Sets February Date for Sepolia Testnet to Get Shanghai Hard Fork
Bitcoin
–Can Nostr Grow To Twitter Size? – Bitcoin Magazine
FTX, Related, and other crushed firms
–Genesis Unveils Proposed Sale Plan With DCG, Bankruptcy Creditors
–Gemini, Genesis Reach $100 Million Agreement Over Earn Program
–FTX seeks to claw back political donations by the end of February
–FTX Lawyers Escalate Threats To Politicians: Return Donations Or Be Sued
–Robinhood board gives nod to buy Sam Bankman-Fried’s $578M stake
–Celsius‘ motion to extend timeline for restructuring plan faces objection from creditors
–DCG Is Selling Holdings in Several Grayscale Trusts: Financial Times
–PayPal Held $604M of Customers’ Crypto as of Year-End 2022
–Coin Cloud crypto ATM operator files for bankruptcy, owes over $100M to Genesis
CRIMES AND SCAMS
–Trust Wallet says user’s $4M hack was done via social engineering
DeFi CeFi and Lending
–This Week in DeFi
–Crypto lender Salt makes comeback with $64.4 million funding
–DeFi’s Next Big Thing: Liquid Staking Derivatives
Exchanges
GOSSIP/OPINION
–Federal Reserve Governor Reinforces US Regulators’ Preference for Keeping Crypto Apart From Banks
–US banking giant BNY Mellon exec says digital assets ‘here to stay’
–Dell Joins Hedera Governing Council to Explore Developing Decentralized Applications
Mining
–Miners Hut 8 And Us Bitcoin Corp Merge
–Bitcoin mining in a university dorm: A cooler BTC story
–Democratic Lawmakers Look to Compel Crypto Miners to Disclose Energy and Emissions Data
–Luxor Launches Bitcoin ASIC RFQ Platform
Nation States (and other political jurisdictions)
NFTs / Metaverse / Web3 / DAOs
–Overpriced JPEGs: You can’t spell ‘Fail’ without AI
–Microsoft Disbands Industrial Metaverse Project: Report
Regulation, Legislation, Legal Matters & Taxation
–Court Rules Craig Wright Has No Bitcoin Copyright
STABLECOINS
–Tether’s Attempt to Block CoinDesk’s Request for Stablecoin Reserve Records Dismissed by New York Court
–Stablecoin Issuer Tether’s Reserves Partly Managed by Cantor Fitzgerald: WSJ
–Stablecoin Issuer Tether Reports $700M Profit for Q4 2022
–Tether assets exceed liabilities in new reserves report by BDO
–Tether CTO denies borrowing from bankrupt lender Celsius
–PayPal Puts Stablecoin Project on Hold: Bloomberg
–Third highest rate of stablecoin outflows into Bitcoin in 5 years
Taxation
Wall Street and Big Money
KEEP AN EYE ON THIS –> https://bitcointreasuries.net/
…AND THIS –> https://www.buybitcoinworldwide.com/treasuries/
Time Capsule
–An Ode to LocalBitcoins (and a Lesson About Maintaining Bitcoin’s Public Goods)
Outside News
–Japan’s Government Adopts Nuclear Energy Policy In Major Turnaround Amid Energy Crisis
You Do Not Change Bitcoin. Bitcoin Changes You.
“Bitcoin will eat the world.” And it is.
Recommended Viewing
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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
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Download the Exodus wallet for you PC and smartphone
Download the Coinami wallet for your PC and smartphone
Categories: Weekly Headlines
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