💣 A Fiery Debate 🔥
In today's edition: 🎙️ New episode with Prometheum's Aaron Kaplan, 🤑 FTX's $7 billion recovery, 🧑⚖️ Binance.US' complaint, and more!
What’s Poppin’?
FTX Recovers $7 Billion in Assets in Liquid Assets
by Samyuktha Sriram
The FTX debtors said they had made “substantial progress” in asset recoveries, despite deliberate commingling of customer assets by the previous management.
Judge Dismisses Binance.US Complaint Over ‘Misleading’ SEC Press Release
by Samyuktha Sriram
A U.S. District Judge ruled that it was not apparent that court intervention was necessary to “wordsmith” public statements made by either party.
Aaron Kaplan Scoffs at Legal Tenets of Crypto, But Gives Few Details About Prometheum
by Laura Shin
The current most polarizing figure in the crypto community, Aaron Kaplan, said his yet-to-be-launched alternative trading system, Prometheum, would “apply the federal securities laws,” but was vague on how.
‘Six Samurai’ Propose Terra Classic Revival Plan
by Samyuktha Sriram
A team of anonymous developers calling themselves the “Six Samurai” say they are prepared to do the hard work to achieve a true revival of the LUNC ecosystem.
Bitcoin Whales Move $3 Million BTC After 13 Years
by Samyuktha Sriram
After more than a decade of inactivity, two whales moved 100 BTC on-chain to different wallets.
On the Pod…
Aaron Kaplan, co-CEO of Prometheum, the trading platform that recently acquired a special-purpose broker dealer license for digital asset securities, has become a major lightning rod in the crypto community.
Does the firm represent, as Kaplan has argued, a compliant path forward for crypto in the United States? Or, as Paradigm Special Counsel Rodrigo Seira maintains, does it only demonstrate that the SEC’s crypto regime is simply unworkable? The two join the show to debate the specifics – and it certainly gets heated.
Daily Bits…✍️✍️✍️
📝 House Financial Services Committee Chair Maxine Waters is seeking input from SEC Chairman Gary Gensler and Treasury Secretary Janet Yellen on a crypto-focused bill to provide a regulatory framework for US digital asset exchanges.
👎 Binance retracted its licensing application in Austria, following its recent decisions to exit the Netherlands, Cyprus, and the U.K., as it streamlines its European entities. However, it could expand its operations in the Middle East.
🔄 Eric Wall's unique consulting NFT, which tokenizes his personal consulting services, was surrendered by its holder due to an overwhelming 300% annual Harberger tax built into the contract.
🎨 A U.S. federal judge prohibited an NFT creator from selling digital collectibles modeled after Hermes' Birkin bags, reaffirming a jury's decision that the creator, Mason Rothschild, intentionally misled consumers about the affiliation of his 'MetaBirkins' NFTs with Hermes.
🔒 BitGo CEO Mike Belshe revealed that, despite recently pulling out of a deal with Prime Trust, the cryptocurrency custodian is planning further acquisitions, predicting more industry consolidation in the coming months.
Today in Crypto Adoption...
💼The Monetary Authority of Singapore (MAS) proposed a design framework for interoperable digital asset networks, with major banks including HSBC, Standard Chartered, DBS and Citi set to conduct asset tokenization trials.
🏦 Switzerland's central bank, the Swiss National Bank, plans to pilot a wholesale Central Bank Digital Currency (CBDC) on the SIX digital exchange, aiming to test real transactions with market participants.
The $$$ Corner…
⛏️ Coinbase Credit extended a $50 million credit facility to cryptocurrency miner Hut 8, offering financial flexibility and enabling strategic management of the company's Bitcoin treasury.
🎮 Pixion Games, a Web3 gaming studio backed by Avalanche, secured $5.5 million in seed funding, which will be directed toward developing its flagship game Fableborne.
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What Are BRC-20 Tokens? A Brief Introduction
BRC-20 tokens are fungible Bitcoin-native tokens, similar to ERC-20 tokens on Ethereum, which arose from the emergence of Ordinal Theory in early 2023.
📈 Your Market Update 📉
BTC is up 1.5%, trading at $30,658
ETH is up .7%, trading at $1,888
BTC dominance: 48.39%
Crypto market cap: $1.23 trillion
*All data as of today, 6:30 am ET
Recommended Reads
The Block on Bahamas properties SBF bought with customer funds
CoinDesk on why IMF and BIS are wrong in saying “tokenization is the future”
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