Weekly Headlines 2023.1 W4
“Centralized digital money controlled by the central bankers is slavery. Decentralized #Bitcoin is freedom.” – Wendy Rogers, the US Arizona state senator
Weekly News Report:
News
1. Australia ranks 3rd in crypto ATM installations after US and Canada
– Australia now enjoys 234 crypto ATMs, which puts her in the third spot globally after the United States and Canada.
2. Arizona lawmakers seek to make crypto a tax-exempt property
– Should the bill pass the legislature, Arizona voters could choose whether virtual currency is tax exempt as part of a November 2024 ballot measure.
3. French Lawmakers Soften Stance on Compulsory Crypto Licenses
– Crypto industry advocates had been concerned about tougher rules in the wake of the FTX collapse, and as EU laws bed in.
4. El Salvador Pays Back $800M Maturing Bond, President Nayib Bukele Says
– The country was the first in the world to use bitcoin as legal tender.
5. Genesis Bankruptcy Case Scheduled for First Hearing on January 23rd
– The bankruptcy hearing for embattled crypto lender Genesis commences today at a New York Southern District court.
6. Bitcoin B logo lights up Germany’s tallest building in Berlin
– Berliners could see the Bitcoin B projected onto the Berliner Fernsehturm tower on January 21.
Institution
1. US institutions account for 85% of Bitcoin buying in ‘very positive sign’ — Matrixport
– Matrixport’s head of research and strategy suggests the industry will soon see layer 1 and other altcoins outperforming relative to Bitcoin.
2. SEC once again rejects ARK 21Shares Bitcoin ETF listing
– Proponents of the fund had argued that a current surveillance-sharing agreement with CME would be adequate to protect investors.
3. Bank of Canada Signals Pause to Rate Hike Cycle
– Bitcoin is mostly ignoring the news, but it’s a potentially bullish sign.
4. EU Lawmakers Set Up Stricter Bitcoin and Crypto Regulations for Banks
– European Union legislators have voted in favor of imposing rigorous capital requirements on banks that hold Bitcoin and cryptocurrencies.
5. Japan’s FSA expects to allow certain stablecoins by June 2023
– There is yet no opportunity to know whether US dollar-backed stablecoins like USDT or USDC will be allowed in Japan by June 2023, the FSA said.
6. European Banks Must Fully Cover Crypto Holdings With Capital, Draft Text Says
– A leaked proposal that faces a vote on Tuesday deems crypto assets to be the riskiest kind, in line with emerging international guidelines.
7. Bitwise Chief Compliance Officer Says Stablecoin Legislation Could Come This Year
– Katherine Dowling says Congress may act because stablecoins are a relatively narrow issue.
8. Going cashless: Norway’s digital currency project raises privacy questions
– At this point, the test network for the Norwegian CBDC uses not the public Ethereum ecosystem but a private version of the enterprise blockchain Hyperledger Besu.
Market
1. Optimism’s OP Token Hits All-Time High as Layer 2 Adoption Interests Grow
– The OP token has surged 140% this year, surpassing bitcoin and ether.
2. Conflux Token Spikes 60% as Blockchain Integrates China’s Version of Instagram
– 200 million users will now be able to display Conflux NFTs on their Little Red Book profile pages.
3. Bitcoin mining brings more than money to this East African country
– A Bitcoin mining project in a remote corner of Malawi connects more families to the grid while delivering economic empowerment to an impoverished region.
4. Layer 1 Blockchain Aptos Token Reaches All-Time High
– APT has been surging since the start of the year, but some traders expect the rally to be short-lived.
5. Elon Musk’s Tesla held onto its Bitcoin in Q4 despite market turbulence
– The EV maker continued to hold its estimated 9,720 Bitcoin, only losing $34 million on its investment due to price declines towards the end of 2022.
6. Bitcoin’s Upswing Is Reminiscent of 2019 Bull Revival
– The action four years ago coincided with the Fed taking its foot off the tightening pedal. Bitcoin has rallied almost 40% in January, and the Fed plans slower rate increases in the coming months.
7. Why Is Crypto Bouncing Back?
– Global inflation is at a turning point. Here’s what that could mean for crypto’s nascent turnaround, CoinDesk Chief Insights Columnist David Z. Morris writes.
8. DYDX Token Surges 21% as Report Says Token Unlock Delayed Until December
– Next month’s 150 million token unlock has been reduced, with 83 million tokens allocated to investors being locked until December, according to The Block.
9. Ethereum futures and options data reflect investors’ growing confidence in ETH price
– ETH price struggles to flip $1,700 to support, but key derivatives data show bulls making plans to break through the resistance.
10. Listen-and-Earn allows Bitcoin payments for podcasters and listeners
– The Fountain podcasting app announced a partnership with ZEBEDEE to allow podcast creators and listeners the ability to earn Bitcoin for their time spent with content.
11. Uniswap holders propose ditching Ethereum for BNB Chain to deploy v3 protocol
– 80% of UNI holders voted to support the deployment of the Uniswap protocol’s v3 to BNB Chain, while the remaining voters voted against the move.
12. Bullish Token Unlocks Buck Bear Market Trend in Spur to Altcoin Season
– Bearish token unlocks are now a thing of the past as astute traders attempt to squeeze short positions in the lead up to supply increases.
13. Bitcoin’s Weekly Options Trading Volume Rises to Highest Since FTX’s Meltdown
– The increase has been mainly driven by greater demand for call options or bullish bets.
14. The World’s Best Crypto Policies: How They Do It in 37 Nations
– What can the United States learn from regulations around the world? Jeff Wilser takes a grand tour.
15. Crypto Markets Analysis: Bitcoin’s Surge Moves Both Short- and Long-Term Holders Into Profitability
– But the question remains whether short-term holders will sell or stay and become long-term holders.
16. Bitcoin Miner Argo Blockchain’s Shares Climb After Regaining Nasdaq Listing
– The miner could return to the Nasdaq after the minimum bid for its stock surpassed $1 for the last 10 consecutive days.
17. Latin American Stablecoin Adoption Expected to Grow Amid High Inflation
– Crypto winter didn’t slow down stablecoin use in Latin America in 2022.
18. Aptos (APT) Surges Nearly 100% in Week, Here’s Why
– Overall, APT has now surged over 300% from its November lows to reach a new all-time high.
19. Bitcoin due new ‘big rally’ as RSI copies 2018 bear market recovery
– There is plenty to be optimistic about when it comes to further BTC price gains, RSI analysis concludes.
NFT
1. Amazon to Launch NFT Initiative This Spring
– A few sources stated that the initiative would likely be about getting Amazon customers to play crypto games and claim free NFTs in the process. And the platform will probably be run out of Amazon rather than Amazon Web Services (AWS).
2. Better Policy Can Turn NFTs Into an Intellectual Property Powerhouse
– Diana Stern, of NFT Palm Studio, writes about copyright, trademark and other IP issues surrounding non-fungible tokens.
3. Proof Reveals Artists Behind Grails III NFT Release, Urging Collectors to Appreciate Digital Art Over Hype
– The 20 artists behind the latest installment of the NFT collective’s Grails project, including Matt Kane, All Seeing Seneca and Josie Bellini, were revealed post-mint.
4. Keep an eye out for major company NFT trademark filings this year
– NFT trademark filings by companies aren’t just a marketing stunt. According to a trademark lawyer, they have to use what’s in the application.
5. Doodles Releases Eagerly Awaited New NFT Project Doodles 2 on Flow
– The latest NFT experience from the Doodles team allows holders to personalize their Doodles characters on-chain.
6. Bored Ape, CryptoPunk NFT Floor Prices Lag Bitcoin
– NFT marketplace volumes are at their highest point since May, while average sales for blue chips are rising
7. Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon Network
– Polygon Labs will also be making a “strategic investment” in Fractal, which aims to “build the future of gaming.”
8. Porsche NFT Collection Fails to Gain Traction As Mint Kicks Into Gear
– The floor price of the collection on the secondary market fell below its minting price of 0.911 ETH in the hours after it opened sales to the public.
9. NFT Collection Doodles Acquires Emmy-Nominated Animation Studio
– The deal for Golden Wolf brings the project’s founder, Ingi Erlingsson, into Doodles’ fold.
DeFi
1. The Best Tool for Designing Effective DeFi Policies Is Web3 Itself
– Code can be better than law.
2. VC Firm Pantera’s 2023 Crypto Forecast Says the Future Is DeFi
– The crypto-focused venture capital firm is focused on transaction fees, liquidity and usability.
Metaverse
1. Here’s how the World Economic Forum leaps into the metaverse — Davos 2023
– Industry insiders highlight World Economic Forum workshops on the metaverse focusing on user privacy, asset protection and regulation.
2. New Metaverse Simulation Game For Teenagers Launched By The UN
– The metaverse has been busy with lots of new exciting stuff lately, including problems for that matter, such as Meta having issues with their endeavors within the virtual realm and other corporate giants wanting to get a piece of the metaverse action but have no idea how.
3. Pedigree Unleashes Virtual Fostering in Decentraland to Find Real Dogs Homes
– Pedigree’s FOSTERVERSE aims to raise funds for animal shelters and encourage people to give the pets home in real life.
4. 69% users bet metaverse entertainment will reshape social lifestyle: Data
– A new survey from CoinWire revealed that the majority of users believe the metaverse will reshape their social life and interactions.
Web3
1. Japan Embraces Web3 As Global Regulators Grow Wary of Crypto
– With tight regulations already in place that helped insulate FTX Japan and its investors from heavy losses, Japan is working on policy and guidelines for stablecoins, NFTs and DAOs as it welcomes a crypto future.
2. Web3 Loyalty Programs Are a Trojan Horse for Good Crypto Policy
– Crypto’s three pillars of ownership, control and interoperability are likely to resonate with policymakers the most, writes Josh Rosenblatt of Co:Create.
January 27, 2023