Is Worldcoin Better Than Bitcoin? 🤨
In today's edition: 🎙️ New episode with VCs, 👨⚖️ Ripple's ruling rejected, 😵 CZ's take on USDT, 🌅 a new dawn for FTX?, 👨🦲 BALD's fall, and more!
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What’s Poppin’?
by Samyuktha Sriram
Judge Denies Terraform Labs Motion to Dismiss, Rejects Decision on Ripple Ruling
Judge Jed Rakoff said the court rejects the approach recently adopted by another judge in the same District who ruled on SEC v. Ripple Labs.
FTX Proposes Exchange Reboot in Reorganization Plan
Some former FTX.com customers could opt to receive equity, tokens or other interests in the rebooted offshore exchange instead of a cash payout.
BALD Token Falls 90% Amid Rug Pull Allegations
The newly launched meme coin on Base fell sharply on Monday as the contract’s deployers removed liquidity.
Binance CEO CZ Calls USDT a ‘Black Box’
Binance CEO Changpeng Zhao expressed skepticism about USDT because of a lack of audit reports for the Tether-issued stablecoin.
Worldcoin Can Be More ‘Widely Distributed’ Than Bitcoin, CoinFund Executives Say
by Juan Aranovich
Amid privacy concerns and criticism, CoinFund executives stand firm on their investment in Worldcoin.
On the Pod…
CoinFund’s Jake Brukhman and Chris Perkins join Unchained to dissect their recent $158 million seed round and the transformation of the investment landscape following the 2022 crypto carnage.
As backers of Worldcoin, they confront criticisms about the project's approach of distributing money to individuals who may not fully comprehend the underlying technology.
They also delve into why the Coinbase lawsuit could potentially boost the industry, share their perspectives on current crypto legislation, and explore the intersection of AI and crypto.
Daily Bits…✍️✍️✍️
📑 Terraform Labs was granted permission by a U.S. federal judge to subpoena FTX for information pertinent to its defense against the SEC enforcement action.
⌛ Digital Currency Group (DCG) expressed optimism about an imminent resolution of the Genesis Capital Chapter 11 bankruptcy claims.
🔍 The Bavaria State Office for Data Protection Supervision is investigating the Worldcoin crypto project due to concerns about the usage of sensitive biometric data.
⚖️ Richard Schueler, aka Richard Heart, creator of Pulsechain and Hex, is being sued by the SEC for allegedly selling over $1 billion worth of unregistered securities.
🧾 According to a new ruling by the IRS, crypto staking rewards should be taxed as income in the year the investor gains control over the tokens.
💱 Due to the recent exploit at Curve Finance that led to a price drop in its CRV token, Curve CEO Michael Egorov's $168 million lending position is at heightened risk of liquidation, which could potentially impact the wider DeFi ecosystem.
🏦 The Bank of Korea is reportedly planning to exclude Seoul from its central bank digital currency (CBDC) pilot study next year, potentially considering Jeju, Busan, or Incheon for the trial instead.
🇭🇰 Despite Hong Kong's aspirations to be a crypto hub, HSBC-owned Hang Seng Bank is limiting crypto companies to 'simple' corporate bank accounts, according to the Hong Kong Economic Journal.
🗳️ A dYdX community vote is currently underway to cut liquidity provider rewards by 50%, a move that could reduce DYDX token issuance by approximately 25% and save the business $1 million a month, and it is gaining significant early support.
What Do You Meme?
Learn 🤓
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📈 Your Market Update 📉
BTC is down 1.6%, trading at $28,911
ETH is down 1.8%, trading at $1,833
BTC dominance: 46.37%
Crypto market cap: $1.21 trillion
*All data as of today, 7:00 am ET
Recommended Reads
Tascha Che on how to make good Web3 regulation
punk6529 on his 2013 BTC memo
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What a stupid title...