Home › Weekly Headlines › The TCB Weekly News Roundup, ending 05 March 2023

The TCB Weekly News Roundup, ending 05 March 2023

By Brian in Chicago on March 5, 2023 • ( 0 )

This week, it was bank Silvergate’s turn to sit in the dunk tank. Multiple prominent exchanges and companies terminated business with the crypto-centric bank. It’s US-listed stock took some hits as a result.

Also be sure to scan the regulatory headlines- form is taking shape.

Enjoy and be well, Everyone.

Follow TinyCryptoBlog – Website | YouTube | BitChute | Odysee | Brighteon | Twitter | Spotify | Facebook | Medium

The Week’s Posts
Thursday Post: “Why Bitcoin Won’t Reach Mass Adoption Ever: A Three Generations Theory Rebuttal” By Mish Shedlock

Tomer Strolight: “Why Bitcoin, The Series, #24: Why the Bitcoin Community is Growing So Fast and Getting So Large”

Reports:

This Week In Twitter

Market cap of Binance's BUSD: -45% in 3 weeks. pic.twitter.com/xQfSbRdFKj
— Tuur Demeester (@TuurDemeester) March 5, 2023

11/ Who might be the 11 banks in the FDIC's IG report? Well, here's the FTX bankruptcy filing list of banks. See if you can spot the 11 banks! Note multiple U.S.-based G-SIBs (global systemically important institutions) might be among them. Let's see how regulators handle this… pic.twitter.com/JUD0D8VfwU
— Caitlin Long 🔑⚡️🟠 (@CaitlinLong_) March 5, 2023

It's simple math. Govt's tend to debase their currencies by increasing the money supply by 7+% per year on average. This cuts the value of your money in half in 10 years, and 1/3 in 16 years. But your stock investment has to triple in 16 years just to maintain its real value.
1/ pic.twitter.com/mQbWj7RRzg
— Rune Østgård (@enur72) March 4, 2023

To be clear: #BitcoinWillEatTheWorld doesn't mean bitcoin will be an asset that is used instead of national currencies- it means it will be used in so many ways, it'll be everywhere (at the least, available)
— Bitcoin rocks (@TinyCryptoBlog) March 5, 2023

Remember: our propensity for drama makes everything appear worse than they actually are.
— Bitcoin rocks (@TinyCryptoBlog) March 3, 2023

Headlines

Adoption, Implementation and Infrastructure
–BTCPay Server Adds CoinJoin Plugin
–Polygon launches decentralized ID product powered by ZK proofs
–Trezor to produce chips for hardware wallets to shorten supply cycle
–CoinEx to stop serving all U.S. customers
-Robinhood Wallet rolls out on iOS with Android support to follow
–UAE emirate to launch free zone for digital and virtual asset firms

CBDCs (are just Surveillance Tokens)
–Australian central bank to launch ‘live pilot’ of CBDC in coming months

COMPANIES & PROTOCOLS
–Chainlink’s new platform lets web3 projects connect to Web 2.0 systems like AWS and Meta
–Ethereum testnet successfully forks in Shanghai upgrade rehearsal

–Voyager customers vote in favor of bankruptcy plan
–Wrapped Bitcoin supply drops to negative after 11,500 wBTC burn linked to Celsius
–DCG losses top $1B on the back of 3AC collapse in 2022

Silvergate
–Coinbase cutting ties with Silvergate forces crypto hedge fund to find a new bank
–FTX Survivor LedgerX Dumps Silvergate for Signature Bank: Report
–Silvergate Loses a Bull as KBW Analyst Downgrades on Limited Visibility

CRIMES AND SCAMS
–Scam alert: Trezor warns users of new phishing attack
–Algorand Wallet MyAlgo Advises Users to Withdraw Funds After $9.6M Exploit
–SBF facing multiple fraud, conspiracy charges in unsealed superseded indictment

DeFi CeFi and Lending
–This Week In DeFi – March 3
–Liquid staking TVL now second-largest among DeFi protocols

Exchanges
–Binance Moved $1.8B in Stablecoin Collateral to Hedge Funds Last Year: Forbes
–Bitcoin exchanges now own 16% less BTC than the oldest hodlers
–Coinbase announces suspension of BUSD trading beginning March 13

GOSSIP/OPINION
–2023 Will Be Year of Crypto Token Price Divergence: Bank of America

Mining
*Live Mining Statistics*
–Bitcoin difficulty adjusts 10%, surpassing 180T, a new all-time high

Nation States (and other political jurisdictions)

NFTs / Metaverse / Web3 / DAOs
–Whale sells 1,010 NFTs in 48 hours: Nifty Newsletter, Feb. 22–28
–Nifty News: Yuga Labs jumps on Ordinals hype, Dookey Dash key sells for 1,000 ETH and more
–3AC liquidators to sell some NFT holdings

Regulation, Legislation, Legal Matters & Taxation
–Decentralized finance to be examined at inaugural CFTC tech advisory meeting
–Coinbase spent $3.4M on lobbying in 2022, while FTX spent $720k
–Robinhood subpoenaed by SEC over crypto listings and custody
–UK banking regulator to propose crypto issuing, holding rules after Basel 3 finalized
–FSB, IMF and BIS papers to set global crypto framework, says G20
–French National Assembly Votes for Tougher Registration Rules for Crypto Firms

STABLECOINS
–BUSD has seen 12 billion withdrawn from exchanges in 3 months, USDT, BTC have been net beneficiaries

Taxation

Wall Street and Big Money
*BitcoinTreasuries*
*Bitcoin Worldwide (treasuries)*
–Grayscale to Argue SEC’s Inconsistency as Bitcoin ETF Dispute Heads to Court

Time Capsule

Outside News

You Do Not Change Bitcoin. Bitcoin Changes You.
“Bitcoin will eat the world.” And it is.

Recommended Viewing

The Week in Videos ending 5 March 2023

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 bitcoin-backed loans

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

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