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The TCB Weekly News Roundup, ending May 7, 2023

By Brian in Chicago on May 7, 2023 • ( 0 )

Another quiet week in the crypto space, through the fractional-reserve banking system continues to show where the breakage is and where things need to be changed.

Enjoy and be well, Everyone.

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

The Week’s Posts
Tuesday Post- The Cost of Crypto Podcast, Episode 31 – May Interesting Times Await You

Thursday Post- Cold Fusion: “How the 2008 Financial Crisis Still Affects You”

The Week in Videos ending May 7, 2023

Reports:
Who Benefits From The New York Times’ Attacks on Bitcoin?

Marty Bent: Issue #1340: This feels like the endgame

This Week In Twitter

✨ Internet Archive creator on the promise of #Bitcoin at $100, 10 years ago. 100% correct 💫 pic.twitter.com/MIgimSkXFv
— RIZZO (@pete_rizzo_) May 7, 2023

Here's a question:

During a bank run when billions of deposits are getting yanked each day, do you seasonally adjust the bank run?

Because that's what the Fed did and here is the deposit data:

Seasonally adjusted: $12.5BN outflow

Actual: -$120BN, or 10x greater, outflow pic.twitter.com/31wGBuXF4m
— zerohedge (@zerohedge) May 5, 2023

As more people begin to understand how [fractional reserve] banking operates…let's just say we going to see some shocks to the system.
And the learning is happening now.#signals
— B. Rocks (@TinyCryptoBlog) May 2, 2023

🌳🌞💧 Happy #ArborDay! A medium-sized oak tree can help prevent flooding and improve water quality by absorbing 2,800 gallons of rainfall per year. Pick up FREE oak saplings every Wednesday morning at locations throughout Cook County ⬇️https://t.co/HFMi500qgi #RestoreTheCanopy pic.twitter.com/m8HbBElyRm
— MWRD (@MWRDGC) April 28, 2023

Headlines

Adoption, Implementation and Infrastructure
–Digital Bank Revolut Expands in to Latin America, Now Offering Crypto Investments in Brazil
–Bybit joins crypto exchanges offering crypto lending services
–ETH Liquid Staking Protocol Lido Finance Deposits Surpass 6M Ether After Shanghai Upgrade
–Argentina’s Central Bank Bans Financial Institutions From Offering Bitcoin
—Why EigenLayer Excites Us [Restaking explained]

CBDCs (are just Surveillance Tokens)
*CBDC Tracker 1*
*CBDC Tracker 2*
–BNP Paribas Will Link Digital Yuan to Bank Accounts for Promoting CBDC Use: Report
–Central Bank Digital Currencies (CBDCs) Are Unexpectedly Becoming a U.S. Presidential Election Issue

COMPANIES & PROTOCOLS
–Market Value of ‘Bitcoin Request for Comment’ (BRC-20) Tokens Rockets to $137M, Up 600% in a Week
–Ethereum Gas Fee Surges to 12-Month High as PEPE Frenzy Grips Market

CRIMES AND SCAMS
–Popular Custodial Lightning Service Tippin.me May Be Exit Scamming

DeFi CeFi and Lending|
–This Week In DeFi – May 5
–Decentralized Exchange DEX SushiSwap Rolls Out V3 Liquidity Pool on 13 Chains
–Celsius Seeks to Merge UK, U.S. Entities Amid Allegations Distinction Was a ‘Sham’
–Eligible Celsius users can withdraw all ‘Distributable Custody Assets’ following court approval
—Bankless – 5 Staking Opportunities for Beginners

Exchanges
–Coinbase to cease issuing new Bitcoin-backed loans via Borrow service
–Poloniex will pay $7.6M settlement to US authorities for ‘apparent violations’ of sanctions
–Binance, Coinbase Endure $700M in Staked Ether Outflows as Decentralized Liquid Staking Protocols Gain
–Bankrupt Crypto Exchange FTX Seeks to Claw Back Nearly $4B in Ongoing Bankruptcy Case

GOSSIP/OPINION/COMMENTARY
–Blockstream Developer Neigut Expects ‘Cambrian Explosion’ of Bitcoin Layer 2 Protocols
–DCG’s CFO Steps Down as Crypto Conglomerate Repays $350M Loan
–Hamas to Stop Accepting Bitcoin Donations Due to Privacy Risk for Donors

Mining
*Live Mining Statistics*
–Riot Platforms (RIOT), Marathon Digital (MARA) Could Face Hefty U.S. Crypto Mining Tax
–Bitdeer to Raise $500M for Bhutan Crypto Mining Operations in Deal With Government
–Jack Dorsey’s nano Bitcoin mining chip heads to prototype
–Mineflation: Cost to mine one Bitcoin in the US rises from $5K to $17K in a year

Nation States (and other political jurisdictions)

NFTs / Metaverse / Web3 / DAOs
–Nifty News: Pudgy Penguins signs with WME, Bitblox to make Web3 gambling games and more
–Sotheby’s auction house launches on-chain secondary NFT marketplace
–Sports Illustrated Launches NFT Ticketing Platform on Polygon
–Bitcoin Ordinals Surge to 3M Inscriptions, but Most Are Just Text

Regulation, Legislation, Legal Matters & Taxation
–U.S. SEC Changes Its Mind on Officially Labeling Digital Assets in Hedge Fund Regulation
–SEC serves $4M in fines to Coinme over ‘misleading’ UpToken ICO
–Crypto-linked Cross River Bank receives FDIC order
–Nigeria’s SEC Plans to Allow Asset-Backed Tokens on Digital Exchanges But Not Crypto: Bloomberg
–Binance Admits to Blocking Thousands of Iranian Accounts Needlessly Due To Sanctions

STABLECOINS
–Number of Stablecoins Held on Exchanges Slips to 2-Year Low

Taxation

Wall Street and Big Money
*BitcoinTreasuries*
*Bitcoin Worldwide (treasuries)*

Time Capsule

Outside News
–Regional Bank Crisis Spreads To Big Banks As PacWest, US Bancorp Tumble, Stocks Dump Amid Widespread Liquidations
–48% Of Americans Are Worried About Their Money’s Safety In US Banks, More Than During Peak Of 2008 Crisis

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

Recommended Viewing

Services and apps that I use

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

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The app that let’s you buy/sell/trade cryptos, earn yields on crypto deposits and take out bitcoin-backed loans

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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