The TCB Weekly News Roundup, ending 12 February 2023 – The SEC Strikes Back

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


This Week In Twitter


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

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

Ethereum Sets February Date for Sepolia Testnet to Get Shanghai Hard Fork

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

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


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

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

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


Wall Street and Big Money

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.

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


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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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