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The TCB Weekly News Roundup, ending June 11, 2023 – The Empire Crumbles

By Just Brian on June 11, 2023 • ( 0 )

If you haven’t seen the Marty Bent / Bilaji Srinivasan podcast, you should consider watching it- Balaji absolutely hit the nail on the head on the political tribalism that has emerged in America. It also adds perspective on the SEC attacks on everything crypto (Gensler is gunning for the Secretary of the Treasury position and Team Blue’s modus operandi right now is to consolidate power by closing off the escape hatches as the economic situation grows more warts.) This weeks attacks are on Binance and Coinbase using the “unregistered securities” bullshit. The only given net result is that companies are ditching the US market (Crypto.com is reportedly US suspending operations.)

Fools trying to prop up a failing empire. Thankfully we living a globally connected world, and the fruits borne by those in other jurisdictions can be shared openly.

Also, crypto infrastructure company Prime Trust has fallen on hard times and is reportedly going to be sold to custodian competitor BitGo.

Enjoy and be well, Everyone.

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The Week’s Posts
Tuesday Post – From the Archives: “What Bitcoin Did, The Mt. Gox Series: ‘Kim Nilsson’s on His Investigation Into Mt. Gox’”

Thursday Post- What Bitcoin Did: “Ledger Recover with Pascal Gauthier, NVK, Matt Odell & Harry Sudock’”

The Week in Videos ending June 11, 2023

Reports:

This Week In Twitter

Factcheck: @brian_armstrong dodged the question on whether @Coinbase invests in tokens on the platform.

I went through Coinbase Venture's entire portfolio, and found that these 30 projects were both part of their investment portfolio, as well as traded on @Coinbase exchange https://t.co/UCqy6kGpvK pic.twitter.com/ltPlhAh74x
— Pledditor (@Pledditor) June 10, 2023

TUSD has deppeged. Any stablecoin with a micro market share is sure to be exposed in this bear season. Since we are on TUSD, I figured we could take a look at which wallet & which exchange they were funded thru.

Who?

Binance of course. No surprises here. pic.twitter.com/NaTu7qbLiv
— TruthLabs 💄 (@BoringSleuth) June 10, 2023

At some point, it just becomes about graft and earning a buck, consequences be damned. https://t.co/iRfnhBWuFn
— B. Rocks (@TinyCryptoBlog) June 10, 2023

CIRCLE CANNOT SURVIVE A BANK RUN. A friendly reminder to everyone that Circle still do not have access to the $3.3B funds that was stuck to the Silicon Valley Bank, which is more than 10% of its current market cap. We may see a major collapse here.https://t.co/1rYneatbpz
— Geralt Davidson 🐺 (@CryptoInsider23) June 6, 2023

Westinghouse and Rolls-Royce is in the game.
Pay attention. #SMR #NuclearPower https://t.co/BDoCw3qpMu
— B. Rocks (@TinyCryptoBlog) June 6, 2023

My latest (simplified) chart on the national debt since 1980. Whichever party is in Congress or the Oval Office, it just keeps getting worse. pic.twitter.com/bprunuZnR1
— Jon Gabriel (@exjon) January 10, 2021

In the ancient Persian Empire, men used to debate ideas twice, once sober and once drunk, because the idea had to sound good in both states.
— occultbot (@0ccultbot) June 8, 2023

Headlines

Adoption, Implementation and Infrastructure
–MetaMask Institutional to integrate with Fireblocks MPC platform
–Swift explores blockchain interoperability to remove friction from tokenised asset settlement [Chainlink]
–Strike Moves To Its Own Infrastructure, Rolls Out New Features and Capabilities

CBDCs (are just Surveillance Tokens)
*CBDC Tracker 1*
*CBDC Tracker 2*
–Goldman, JP Morgan, Deutsche in Tel Aviv blockchain government bond trial
–Standard Chartered, PwC make case for programmable CBDC in China Greater Bay Area
–Japan launches digital yen pilot project after second successful proof-of-concept

COMMENTARY/OPINION/GOSSIP
–Bitcoin mining firms keep building despite BTC mining profitability slump

COMPANIES & PROTOCOLS

CRIMES AND SCAMS

DeFi CeFi and Lending
–This Week In DeFi – June 9
–BitGo bails out Prime Trust in acquisition deal
–Crypto Lender Celsius Network’ $800M ETH Staking Shake-Up Stretches Ethereum Blockchain’s Validator Queue to 44 Days

Exchanges and Platforms
–US DOJ opposes bankrupt Bittrex’s plan to repay customers ahead of credited fines
–Breaking: Binance.US suspends USD deposits, warns of fiat withdrawal pause
–Crypto.com to suspend US institutional exchange
–CEX trading volumes fell to 4-year lows even before Binance, Coinbase suits
–Binance Withdrawal On Track to be Largest Since March Crypto Banking Crisis Amid SEC Lawsuit
–Swan Changes Custodians, Promises Multisig Cold Storage For Clients In Coming Months

Mining and Energy
*Live Mining Statistics*
–May 2023 Mining Ops Updates: Riot, Marathon, Core Scientific, Cipher, Stronghold, CleanSpark & More
–Nuclear Power May Become Crucial In Decarbonization Efforts

Nation States (and other political jurisdictions)

NFTs / Metaverse / Web3 / DAOs
–Kraken NFT marketplace launches with over 250 collections
–Nike NFTs are coming to EA Sports games: Nifty Newsletter, May 31–June 6

Regulation, Legislation, Legal Matters & Taxation
–Ripple case more crucial than ever amid Coinbase, Binance SEC crackdown: Lawyers
–Robinhood Joins Coinbase in Saying It Tried to ‘Come In and Register’ Like SEC Wanted

STABLECOINS

Taxation

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

Time Capsule

Outside News
–Money stored on mobile payment apps may not be FDIC insured, US watchdog warns

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

Recommended Viewing

Services and apps that I use

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