🔄 Is Circle the Next Big Crypto Publicly-Listed Company?
In today’s edition: 💸 Wintermute's $11M deal dispute, 📜 the emergence of USDY, 📈 ORDI's value, and more!
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In this episode, Laura does a detailed unpacking of the historic Sam Bankman-Fried trial and verdict with defense lawyer Sam Enzer and former Southern District of New York prosecutor Rich Cooper. They discuss what a thorough job the government did in presenting its case, whether the government will pursue a second trial on campaign finance charges, why it takes so long for sentencing to occur, what the differences between this case and the Bernie Madoff case are, and what Bankman-Fried’s likely sentence will be.
What’s Poppin’?
by Brandy Betz, Juan Aranovich, and Samyuktha Sriram
Stablecoin Issuer Circle Considers IPO Next Year: Report
Circle is reportedly in talks with advisers to prepare for a public listing in 2024 at an undisclosed valuation.
Rapid Verdict Signals Tough Road Ahead for Bankman-Fried in Sentencing and Appeals
Rich Cooper and Sam Enzer dissect the rapid jury decision and the complex road ahead for SBF’s legal battles.
Wintermute: NEAR Foundation and Aurora Backed Out of $11 Million Redemption Deal
Wintermute CEO Evgeny Gaevoy claims that the NEAR Foundation refused to honor their commitment for the $11 million USDT in exchange for USN sent to them.
Mantle, Ondo Finance Launch Real-World Asset-Backed Token
USDY is a yield-generating tokenized note backed by U.S. Treasuries and bank demand deposits.
Bitcoin Ordinals-Linked Token Surges After Binance Listing
ORDI is currently up 77% after the crypto exchange listed the token under its “seed” tag.
Daily Bits…✍️✍️✍️
🚨 Nearly half of the CFTC's enforcement actions in a record year targeted digital assets, underscoring increased regulatory focus.
🏦 Federal Reserve's Michael Barr urged the establishment for a comprehensive federal framework to regulate stablecoins.
🔄 Nil Foundation unveiled an Ethereum ZK-Rollup solution with sharding support, promising enhanced scalability.
🔐 Binance announced a self-custody crypto wallet during its conference, enhancing user control over assets with multi-party computation security.
Today in Crypto Adoption...
🤝 Animoca Brands Japan entered a strategic partnership with Cool Cats Group, aiming to merge Web3 with Japanese anime culture.
📜 SEBA Bank secured a Hong Kong license for its subsidiary to provide a range of crypto-related services, expanding its global financial offerings.
🏦 HSBC announced a 2024 launch for its institutional digital-assets custody service, focusing on tokenized securities in collaboration with Metaco.
The $$$ Corner…
💷 a16z Crypto spearheaded a $4.2 million seed investment in Pimlico, a UK firm specializing in Web3 infrastructure.
🌏 Ninety Eight launched a $25 million fund to nurture Web3 startups across Asia, with a focus on innovative blockchain applications.
📉 Coatue Management slashed its investment valuation in OpenSea by 90%, indicating a significant decrease in the NFT platform's market value.
What Do You Meme?
Recommended Reads
Unchained: What Are zk-SNARKS? A Beginner’s Guide
Ally Zach on the L2 ecosystem
CoinDesk: How the Crypto Industry Responded to the IRS Proposed Broker Rule
📈 Your Market Update 📉
BTC is up 1.8%, trading at $35,378
ETH is up .3%, trading at $1,882
BTC dominance: 49.68%
Crypto market cap: $1.39T
*All data as of today, 06:20 am ET
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