🐙 Kraken to Follow Coinbase's Steps?
In today’s edition: 🛑 Withdraw your BSV, 📱 DZ Bank AG's new venture, 🔨 FTX proposes asset sale, 💹 Record inflows, 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, James Rubin and Samyuktha Sriram
Kraken Plans to Build Its Own Layer 2 Blockchain: Report
Crypto exchange Kraken is reportedly in discussions with blockchain infrastructure firms as it considers who to partner with to launch its own Layer 2 network.
Coinbase to End Support for Bitcoin SV
Coinbase urged users to withdraw all funds in BSV ahead of its plans to officially end support for the asset on Jan. 9, 2024.
German Banking Giant DZ Unveils Platform for Digital Asset Custody
Germany’s DZ Bank AG launched a new platform for digital assets processing and custody.
FTX Asks to Sell $744M in Assets From Grayscale, Bitwise Trusts
The collapsed crypto exchange and its debtors told a bankruptcy court the sale would make it easier and cheaper to repay creditors.
Digital Asset Inflows Have Already Topped Last Year’s Total
Digital asset investment product inflows total $767 million so far in 2023 versus the $736 million last year, according to new CoinShares data.
Daily Bits…✍️✍️✍️
🧑💼 The SEC is facing recruitment challenges for crypto experts due to conflicts with personal digital asset holdings.
🏦 The Bank of England's discussion paper highlighted the regulatory challenges posed by self-custodial wallets in the stablecoin market.
🔄 Proof Group, part of the Fahrenheit consortium that acquired Celsius, is now a contender to revive the defunct crypto exchange FTX.
🚨 Indian police have detained 18 individuals, including four police officers, in connection to a massive $300 million crypto fraud operation.
💻 A fraudulent Ledger app on the Microsoft App Store led to the theft of over $767,000 in Bitcoin and other cryptocurrencies.
🚨 Yuga Labs reported that less than 1% of ApeFest attendees experienced eye issues, with ongoing investigations into the cause.
🛠️ Gemini's CTO Pravjit Tiwana is set to depart from the crypto exchange, amid ongoing legal battles and internal cultural shifts.
📉 Major stablecoins have experienced over 600 depegging events in 2023, signaling volatility in the sector, reported Moody's Analytics.
🚗 Crypto YouTuber Ben Armstrong, aka Bitboy, sued former colleagues for alleged racketeering and theft of a Lamborghini.
🔄 Crypto exchange OKX is set to delist 26 trading pairs to ensure a high-quality spot trading environment.
🗳️ Arbitrum DAO approved a proposal for ARB token staking, with rewards funded by the treasury over a year.
Today in Crypto Adoption...
🤝 SK Telecom collaborated with Aptos and Atomrigs Lab to create a non-EVM blockchain-integrated web3 wallet service.
The $$$ Corner…
📈 Llama, a smart contract governance platform, secured $6 million in seed funding to expand its engineering team and infrastructure.
🌐 StablR, a euro stablecoin startup, garnered €3.3 million in seed funding to enhance its euro-based stablecoin offerings.
💳 Payment startup Due raised $3.3 million in seed funding to develop a blockchain-based platform for international transactions.
🤝 Crypto tax software provider Blockpit acquired Accointing, positioning itself for the upcoming EU crypto tax laws.
What Do You Meme?
Recommended Reads
Vijay Boyapti on the alleged fraud perpetrated by DCG and Barry Silbert
@jordaaash on Solana’s “centralization” problem
Unchained: What Is the Bitcoin Hashrate and Why Does It Matter?
📈 Your Market Update 📉
Altcoins Outshine BTC, Which Holds Near $35K
On Monday, LINK, TON and MATIC were among the biggest gainers as Investors seemed to regain their appetite for riskier assets. ETH remained near $1.9K.
BTC is down 1.3%, trading at $34,718
ETH is down 1%, trading at $1,875
BTC dominance: 49.6%
Crypto market cap: $1.37T
*All data as of today, 05:45 am ET
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