SEC, It's Time to Define 'Security' ⌛
In today’s edition: 🚫 Trump against CBDCs, 📊 Ethereum tests Dencun upgrade, 📉 Crypto developer exodus, 💹 CoinDesk's new crypto index, and more!
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What’s Poppin’?
by Sam Sriram, Sage Young, Juan Aranovich, and Brandy Betz
Federal Judge Presses SEC Over Jurisdiction in Case Against Coinbase
Judge Katherine Polk Failla said she had a “real fear” that the SEC’s definition of a regulated investment contract would include collectibles like Beanie Babies.
Donald Trump Promises to Never Allow CBDCs if Elected President
Former U.S. President Donald Trump has promised to never allow the creation of a CBDC if he is elected to the Oval Office once again.
Ethereum’s Dencun Upgrade Live on Testnet After Bug Delays Finalization
The Ethereum Dencun upgrade launched on the testnet but failed to finalize for four hours due to a bug that has since been patched.
25% of Crypto Developers Have Left the Ecosystem Over the Past Year: Report
The latest developer report from Electric Capital reveals a sobering decline in the active crypto development workforce, despite Ethereum’s strong pull on new talent and the rise of multi-chain development.
CoinDesk Debuts Crypto Index Offering TradFi-Style Benchmark for Cryptocurrencies
The CoinDesk 20 Index tracks major cryptocurrencies and offers investable products from parent company Bullish.
The Chopping Block: When Will the ETF Hype End?
Welcome to The Chopping Block, where crypto experts Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner bring you inside perspectives on critical topics in the crypto world. This episode delves into the complexities and market impact of crypto ETFs: Are they a game-changer for investors? The team also examines the controversies surrounding Tether, exploring its stability and the implications of recent scandals. They then shift focus to the burgeoning world of asset-backed securities and crypto casinos: What potential and challenges do they present? NFTs and their evolving role beyond digital art are scrutinized, along with the integration of crypto technology in devices like the Solana phone.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
Or watch it on YouTube.
Daily Bits…✍️✍️✍️
⛏️ Bitcoin's network hashrate plummeted by around 25% due to curtailment requests in Texas following a severe cold snap, affecting the state's status as a major mining hub.
💸 Approximately $2 billion in dormant bitcoin moved just days after the start of trading for spot bitcoin ETFs.
💰 Cumulative trading volume for newly launched spot bitcoin ETFs crossed $11 billion in just four days.
🛑 VanEck plans to close its futures-based Bitcoin Strategy ETF (XBTF) amid shifting market dynamics and the rise of spot bitcoin ETFs.
💠 Frax Finance's new Layer 2 blockchain, Fraxtal, is set to launch in February, expected to attract substantial crypto asset inflows.
🔝 dYdX has surpassed Uniswap in daily trading volume, becoming the largest decentralized exchange, following its move to the Cosmos blockchain.
🤝 Tether partnered with rhino.fi, previously part of its group, to enhance the liquidity of rhino.fi's bridge services.
⚽ Luis Rubiales, ex-president of Spanish football, unveiled an NFT series amid sexual assault allegations.
🤖 Unibot, a popular Telegram trading bot, saw a surge in usage on the Solana network after initial success with Ethereum, mainly driven by memecoin trades.
🔍 The EU is moving towards enforcing more stringent due diligence regulations for crypto firms, affecting transactions of at least $1,090.
💸 South Korea is considering the elimination of taxes on crypto gains as part of a broader plan to abolish income tax on financial investments.
Today in Crypto Adoption...
💻 Gemini secured authorization to start operations in France, marking its European expansion with plans to introduce over 70 digital currencies.
The $$$ Corner…
💰 Woo raised $9 million to enhance the liquidity of its WOO X exchange, with significant contributions from market makers.
What Do You Meme?
Recommended Reads
Idan Levin on Liquid Restaking Token (LRT) wars
DL News: Two Supreme Court fishing cases arm Coinbase and Binance with ammo in SEC battle
📈 Your Market Update 📉
BTC is down .9%, trading at $42,354
ETH is down 1.4%, trading at $2,512
BTC dominance: 47.46%
Crypto market cap: $1.75T
*All data as of today, 06:35 am ET. Source: CoinGecko
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