Weekly Headlines 2022.12 W4
“Some legitimate concerns and questions remain around the future of crypto. It might be a volatile industry, but the technologies developed behind it are incredible.” – Paolo Ardoino, Bitfinex and Tether CTO
Weekly News Report:
News
1. Sam Bankman-Fried Released on $250M Bail Secured by Parents
– In his first court appearance since being extradited from the Bahamas, the former CEO was told he can live with his parents on $250 million bail secured by their Palo Alto house.
2. Brazil’s President Signs Crypto Regulations Into Law
– Companies in the sector will have 180 days to adapt to the new rules.
3. Coinbase secures VASP registration in Ireland
– Operations in the country will be overseen by Cormac Dinan, a former employee of Crypto.com, Deloitte and Citigroup.
4. Bitcoin Miner Core Scientific Files for Bankruptcy, Expects Support From Some Debt Holders
– The publicly traded miner expects support from some of the holders of its convertible notes in a restructuring deal.
5. Sam Bankman-Fried to be Extradited to the U.S.
– The former CEO of collapsed crypto exchange FTX could arrive in New York to face charges as early as Wednesday afternoon.
6. Sam Bankman-Fried Reportedly Set for Extradition to the U.S.
– A hearing in The Bahamas is set for Wednesday morning, and Bankman-Fried will fly to the U.S. the same day.
7. Central African Republic Delays Crypto Coin Listing to 2023
– The country was one of the first to declare bitcoin as legal tender.
8. FTX Has Over $1B in Cash, Creditor Meeting Told
– Unwinding the collapsed crypto company has been made more difficult by poor record-keeping.
9. Nigeria to Recognize Crypto as Investment Capital: Report
– A proposed bill will lay out crypto supervisory powers of the Central Bank of Nigeria and the country’s securities regulator, an official has said.
10. Boris Johnson’s Brother Quits as Binance Adviser
– Binance has struggled to launch operations in the U.K. and may be facing money laundering charges from the U.S.
11. Binance.US Agrees to Buy Voyager’s Assets for $1.02B
– The agreement comes after CoinDesk had reported last month that Binance was preparing a bid for Voyager’s assets.
Institution
1. HK legislator’s firm to lure 1,000 Web3 start-ups over 3 years
– G-Rocket is aiming to attract 1,000 Web3 start-ups to Hong Kong and will help them with banking, government services and office spaces.
2. UK’s Financial Services and Markets Bill Should be Passed by Spring 2023, Treasury Says
– The Financial Services and Markets Bill that is currently being debated will give regulators more power over crypto.
Market
1. Economic frailty could soon give Bitcoin a new role in global trade
– Aggressive interest rate hikes have wrought havoc on global markets. As a consequence, more countries may embrace Bitcoin in the year ahead.
2. Top-five most Googled cryptocurrencies worldwide in 2022
– Bitcoin remains the most-searched cryptocurrency in 2022 by far thanks to its top-brand status and being in a league of its own when it comes to decentralization.
3. Crypto Funding Plunged in 2022, but VC Head Sees Areas of Opportunity for 2023
– CoinFund’s David Pakman talks FTX, DeFi and the way forward.
4. 2023 Will Be the Death of Bitcoin Energy FUD
– It’s becoming increasingly difficult to ignore how green bitcoin mining can combat climate change.
5. Bitcoin Protocol Development Steadily Progressing Despite Only 40-60 Monthly Active Developers: NYDIG
– The report was written by Bitcoin-focused investment firm, New York Digital Investment Group.
6. 2023 Should Be the Year of On-Chain User Security
– If crypto does not get its house in order, regulators will do it for them.
7. How Regenerative Finance Is Bringing Sustainability to Crypto
– As the crypto industry surveys the ruins of 2022, it must refocus on its core promises and once again seek ways to add tangible and sustainable value.
8. Consumers are crypto-curious — One in five own digital currency: Accenture
– An end-of-the-year report from Accenture showed that despite traditional payment methods dominating many markets, consumers are curious about crypto.
9. Pantera CEO on the FTX collapse: ‘Blockchain didn’t fail’
– Pantera Capital CEO Dan Morehead argued that the FTX collapse has nothing to do with the promise of blockchain technology.
10. Vitalik Buterin reveals 3 ‘huge’ opportunities for crypto in 2023
– There’s still plenty of room for innovation, according to Ethereum co-founder Vitalik Buterin.
11. Blockchain VC funding surpasses 2021 total despite declining since May
– After a tumultuous year in crypto, investors are now more selective with their funding.
12. ReFi Is Going Mainstream
– The successful Ethereum Merge is just the start of a growing movement to leverage crypto rails to fight climate change.
13. Coinbase’s Slump to All-Time Low Sends Market Cap Below Dogecoin
– The crypto exchange has dipped another 17% over the past 30 days, bringing its year-to-date plunge to more than 85%.
NFT
World Cup Fan Tokens, NFTs See Heavy Volume After Argentine Victory
– Messi NFTs on the Ethernity NFT marketplace see major resales.
DeFi
DeFi Project Popsicle’s ICE Token Triples as Controversial Wonderland Founder Returns
– The sudden price surge of Popsicle’s ICE native token coincided with the controversial blockchain developer Daniele Sestagalli revealing his return to rebuild the project.
Metaverse
Mercedes-Benz Hints at Metaverse, NFT Plans in Trademark Filing
– Mercedes may join Lamborghini among automakers competing for metaverse space.
DAO
Marshall Islands legally recognizes DAOs as domestic limited liability companies
– The law enables legal entities registered in the country to formally adopt DAO structures and governance tools.
Web3
1. International Chess Federation Checks Into Web3 With Avalanche Integration
– The global chess authority is looking to onboard the game’s 500 million players into Web3 with the new partnership.
2. Brand Building On-Chain: Why Marketers Are Shifting Investment Into Web3
– 2022 was a year of upheaval in crypto. It also marked a turning point for advertisers.
3. Metaverse-First Blockchain Lamina1 Launches Rolling Fund for Web3 Builders
– The layer 1 blockchain is the brainchild of Neal Stephenson, who coined the term “metaverse” in 1992, and Peter Vessenes, co-founder of the Bitcoin Foundation.
4. Game developers expect to work on Web3 games in the future: Survey
– A new survey shows that developers believe integrating Web3 will have an impact on user acquisition and retention.
5. Polygon Founder Unveils Web3 Accelerator Beacon
– The accelerator aims to connect founders with potential investors.
6. Elon Musk’s Twitter Mistakes Prove Web3’s Point
– Social media has tended towards monopolization. Are we seeing the advent of a new type of “network effect?”
December 23, 2022