Cardano Rumor Rundown December 1, 2022

Hey Everyone!

Let’s go….

Newly Covered Today:

1. The European Central Bank has become the latest in a long line of fortune tellers who for over a decade have been predicting the imminent demise of crypto. https://twitter.com/ecb/status/1597894360510922752
2. Tomorrow the claim window will open for a free Virtua landbot if you hold all 7 Cardano Summit 2021 NFTs. https://twitter.com/VirtuaMetaverse/status/1598018929196425216
3. Here’s a very high level peek from Wired at where a few members of Congress stand on crypto in a post-FTX world. https://www.wired.com/story/us-congress-ftx-cryptocurrency-regulation/
4. Crypto Winter is still very frigid. Kraken just had to fire 30% of its workforce. https://blog.kraken.com/post/16442/business-update/
5. A bill has been introduced in the US House and Senate to prevent the Fed from ever releasing a CBDC directly to the people. https://twitter.com/RepTomEmmer/status/1598038625337610240
6. Maybe we’re going about this DAO thing all wrong. https://twitter.com/ArmySpies/status/1598071796468658176
7. Things have changed in crypto. Maybe Cardano can be that hard reset. https://twitter.com/ArmySpies/status/1597857172402057216

Previously covered, but still interesting:

1. Charles dropped a whole video on how Elon can decentralize Twitter with Doge and Cardano. https://www.youtube.com/watch?v=G7dmU2CCJo
2. MuesliSwap drops a mysterious tweet saying it is working on one the biggest Cardano DeFi innovations. https://twitter.com/MuesliSwapTeam/status/1590096808042459136
3. Charles sums up today in Cardano perfectly. https://twitter.com/IOHK_Charles/status/1590151060639059970
4. CZ of Binance signed a non-binding letter of intent to acquire FTX to help remedy what he describes as a liquidity crunch at FTX. https://twitter.com/cz_binance/status/1590013613586411520
5. I definitely did not think I would wake up this morning and watch Martin Shkreli and Do Kwon in a live discussion of a non-binding LOI for Binance to acquire FTX. https://www.twitch.tv/uponlytv
6. Here’s a great thread offering a very thorough explanation of what has gone down with FTX. https://twitter.com/milesdeutscher/status/1589631447517655040
7. Elon files paperwork with FinCen for Twitter to become a payments network as a money transmitter. https://twitter.com/jp_koning/status/1590413986843201536
8. Here’s a nice video of Charles crushing the kid from The OC (who is now a middle aged crypto critic) along with some other person who says that “crypto has ruined lives.” The actor basically thinks that every cryptocurrency is just a security. He also reminded everyone he went to college and has a book coming out. https://twitter.com/casey_lau/status/1589530354217783296
9. Out of the FTX-Alameda chaos, things are really REALLY not looking good for Solana. https://twitter.com/DU09BTC/status/1590307342884962305
10. Virtua gave us a sneak peek of the inside of the Cardano Island condos. They look good! https://twitter.com/virtua_official/status/1590450026957840384
11. My…my…my…how the tables have turned, Solana. https://twitter.com/MagicEden/status/1590435695080140800
12. Rumors are swirling that wrapped BTC in Solana issued by FTX and/or Alameda and present on many lending and AMM platforms will spread the contagion very widely. https://twitter.com/weremeow/status/1590461628864397312
13. The Cardano Summit registration for virtual attendance is now open. The Summit will run Nov. 19-21st. https://twitter.com/Cardano/status/1591793019975397377
14. Cardano development stats are looking very nice (Nov 14). https://twitter.com/InputOutputHK/status/1591822447346536449
15. IOG’s virtual ScotFest will be happening right before the Summit Nov 18-19. Kickoff will be 10:00 AM GMT on the 18th. Keynote from Charles at 2pm GMT on the 18th. https://iohk.io/scotfest/
16. Apparently, Crypto.com says it accidentally sent $400 million to Gate.io and then had to ask Gate to send it back. People should be asking some serious questions about controls at crypto.com. https://twitter.com/kris/status/1591605600638881792
17. BlockFi appears to be impacted by the FTX/Alameda implosion. https://twitter.com/BlockFi/status/1590875997351866368
18. Carda Station has a treasure hunt going on inside their metaverse! https://twitter.com/Carda_station/status/1591462387776888833
19. A large ETH podcast gets called out and ratioed hard for its past behavior in the context of current events. https://twitter.com/StakeWithPride/status/1591500079873265665
20. Charles straight killed it in that mega twitter space with a bunch of big crypto names by pointing out that Cardano and Bitcoin are good in all this because they’re actually decentralized which is what the whole space needs to pursue instead of a bailout. The whole crypto space needs to live up to the label of “decentralization” we slapped on this thing. https://twitter.com/iamshamdol/status/1591933841337638913
21. The Dragon is using FTX as a foothold to paint all of crypto as “smoke and mirrors”. Shocker: she wants “aggressive enforcement”. https://twitter.com/SenWarren/status/1590496981751058432
22. Things keep getting worse with FTX/Alameda. The Wall Street Journal is reporting that “Alameda Amassed Crypto Tokens Ahead of FTX Listings”. https://www.wsj.com/livecoverage/stock-market-news-today-11-14-2022/card/alameda-amassed-crypto-tokens-ahead-of-ftx-listings-public-data-shows-z6KFN051ToEpFohTXA89
23. Senator Lummis explains why the FTX bankruptcy wouldn’t have happened under the Lummis-Gillibrand Bill. https://twitter.com/SenLummis/status/1592212987259281408
24. Humans often seem to value optimization of short-term growth over optimization of long-term growth. Even some Western Economists in the Cold War thought the USSR would outgrow the US. The crypto space is making the same mistake in undervaluing Cardano’s long term optimization. https://www.thecrimson.com/article/1960/10/17/professor-predicts-soviet-union-growth-will/ https://marginalrevolution.com/marginalrevolution/2010/01/soviet-growth-american-textbooks.html
25. The New York Fed is rolling out a CBDC proof-of-concept along with BNY Mellon, Citi, HSBC, Mastercard, PNC Bank, TD Bank, Truist, U.S. Bank and Wells Fargo. https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115 https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform
26. FTX-Alameda Contagion report: SALT lending has paused withdrawals and deposits. https://twitter.com/coffeebreak_YT/status/1592567205727961089 https://twitter.com/Travis_Kling/status/1592198107734876160
27. Here’s a sneak peek at the upcoming Cardano Summit 2022 NFTs from TURF. https://twitter.com/Turf_NFT/status/1592536651472855041
28. Sounds like we’ll get news on the Pavia live event “very soon”. https://twitter.com/PaviaRoss/status/1592474815096848385
29. Frederik Gregaard’s latest interview definitely poses a hypothetical related to BMW involvement in Cardano. https://youtu.be/Uk9arH5qMIo?t=4234
30. Caitlin Long’s Custodia Bank gets a preliminary win against the Federal Reserve in its quest to get a master account (that is necessary to get a routing number and etc). https://twitter.com/wadaniel/status/1592171742889480192
31. Vitalik is worried about bugs in SC code and “most worried” about hacks of ZK-Rollups. I believe it’s obvious that ETH ZK-Rollups will generally be DnPs (“deposit and pray”). https://twitter.com/VitalikButerin/status/1592881308002549761
32. ScotFest is only a day away (11-17). You can watch the stream on youtube. https://twitter.com/InputOutputHK/status/159293618740435763
33. The US House Committee on Financial Services has planned a hearing on the FTX collapse for December. https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409920
34. The Financial Services Committee hearing will not be the first time the Chairwoman of that committee has met SBF. https://twitter.com/hexidethmal/status/1591100345395990530 https://twitter.com/ChuckRossDC/status/1592951865519800320
35. Congressional scrutiny of Binance’s role in the FTX collapse is interesting. How about someone determine FTX’s role in the FTX collapse before pointing fingers elsewhere? https://twitter.com/TheBlock__/status/1592945434355384321
36. FTX Contagion Update: Genesis has suspended redemptions and new loan originations. https://twitter.com/GenesisTrading/status/1592867208275046401
37. Yoroi has some kind of “especially exciting” announcement for the Cardano Summit! https://twitter.com/CryptoKeish/status/1592983315157770243
38. Looks like City AM broke the news that IOG’s investment in the University of Edinburgh lab was $4.5 Million. https://twitter.com/IOHK_Charles/status/1593253855461920769 https://twitter.com/EditorParkin/status/1593253160365494273
39. Don’t forget! ScotFest will be live in just a few hours at 10am GMT with a keynote from Charles at 2pm GMT (Nov. 18). https://iohk.io/en/scotfest#watch
40. There’s trouble in Cardano NFT land. Allegations are levied that jpg.store is moving toward centralization and monopoly. https://twitter.com/Padierfind/status/1593243249442902017 https://twitter.com/berry_ales/status/1593251527292260357
41. Looks like criminal charges are incoming over the FTX scandal. No surprise there. I wonder if eyes wide shut parties are easier to organize in jail or in a $40 million penthouse. https://twitter.com/BitcoinMagazine/status/1593285566539390977
42. The FTX bankruptcy docs depict a horror show of complete lack of corporate controls. https://pacer-documents.s3.amazonaws.com/33/188450/042020648197.pdf
43. Binance suspended deposits of USDT (SOL) and USDC (SOL). But, then resumed accepting USDT (SOL) deposits. https://www.binance.com/en/support/announcement/deposits-of-usdt-sol-token-resumed-4df9fb3a27bf4735b7a726a3a9849ac0
44. Here’s a great presentation on Midnight from IOG. https://youtu.be/DxW_wrdTWuE
45. You can mint the Cardano Summit 2022 NFTs by finding the secret area (go downstairs then out on the balcony to enter the garden which will transport you) and collecting all of the coins there. https://twitter.com/Cardano/status/1590268059645890560
46. Emurgo is launching a stable coin! I secretly encoded that news in the last thirty seconds of last Friday’s video. https://www.coindesk.com/tech/2022/11/18/cardano-based-regulated-stablecoin-usda-will-hit-the-market-in-early-2023/
47. All the data on the Cardano Summit voting has been released. https://voting.summit.cardano.org/categories
48. Crypto made it into the G20 Leaders Declaration released by the White House. https://www.whitehouse.gov/briefing-room/statements-releases/2022/11/16/g20-bali-leaders-declaration/
49. The overcollateralized algorithmic Djed stablecoin from COTI will launch in January 2023! The Djed Pay mobile app will also be coming in 2023. The collection of partnerships they have already inked looks very impressive. https://twitter.com/COTInetwork/status/1594697378069725185
50. Here’s the full rundown on the 1:1 fully backed USDA stablecoin from Emurgo. It’s more than just a stablecoin. It’s a gate between a fully regulated fiat world account and your wild west crypto world wallet. https://youtu.be/cM7CjZOezto
51. Wow. It looks like SBF was really meeting with everyone, even Fed Chair Jerome Powell. https://www.federalreserve.gov/foia/files/chair-powell-calendar-022022.pdf
52. JCrypto gave us the first peek of Virtua condo interiors. https://twitter.com/JCRYPTO_YT/status/1594687839073075202
53. Cornucopias debuted another reel of their metaverse. https://www.youtube.com/watch?v=MbH4B9X_Szw
54. The Cardano Island Crib event beta test is now live. https://blog.virtua.com/virtua-news/cardano-island-crib-beta-test-faqs/
55. This is an important skirmish in the greater battle and war. https://twitter.com/lex_node/status/1594824963386638336
56. Carda Station has secretly built and opened up a second colony on the moon and it’s covered with a dome! https://twitter.com/Carda_station/status/1594863875328983041
57. MuesliSwap is deploying concentrated liquidity pools on private testnet. https://twitter.com/MuesliSwapTeam/status/1593621917151514631
58. Congressman Tom Emmer is trying to make it clear to everyone that the FTX collapse was about centralized finance and not about crypto which is focused on decentralization. https://twitter.com/RepTomEmmer/status/1595148698170032128
59. Brian Armstrong has revealed that Coinbase had $39.9 billion in BTC as of September. https://twitter.com/brian_armstrong/status/1595126425371414528
60. Virtua gave us a look at the exterior of the various sizes of cribs. https://blog.virtua.com/wp-content/uploads/2022/11/Virtua-Metaverse-Cardano-Island-Cribs-PDF.pdf
61. The day started with some very worried about the status of Orbis. https://twitter.com/SCATDAO/status/1595491732044521473
62. Cardano Whale reported on Twitter that “Ardana and Orbis rugged.” https://twitter.com/cardano_whale/status/1595587212619534336
63. Shortly thereafter, Orbis acknowledged that they are unable to continue. https://twitter.com/orbisproject/status/1595589252330536960
64. As did Ardana. https://twitter.com/ArdanaProject/status/1595594077260709888
65. A SundaeSwap founder subsequently reached out to Ardana to see if there was any infrastructure or internal tooling that could be purchased. https://twitter.com/artembwright/status/1595597291896848386
66. A big controversy emerged today over a big dump of Indigo tokens and a well known project founder who may be responsible. https://twitter.com/bisoncoin_io/status/1595559991775461376
67. Buying Cardano NFTs with a credit card is now apparently a thing. https://twitter.com/winter_NFTs/status/1595497540169830402
68. Now, SBF is being interviewed at a summit. This has gone too far. https://twitter.com/SBF_FTX/status/1595512579417378837
69. Cardano Whale keeps exposing the egregious media/data blackout on Cardano. https://twitter.com/cardano_whale/status/1595410139653079043
70. It looks like the Artifct Moon metaverse is beginning work on a 3D map. https://discord.com/channels/882364185244237884/882374348638404628
71. Looks like the Bank of Japan will be launching a CBDC in 2023! https://www.nikkei.com/article/DGXZQOUB21BRU0R21C22A1000000/
72. Concerns have surfaced over the possibility of a developing Twitter Space aristocracy in Cardano. https://twitter.com/intel_honesty/status/1596733717405310976
73. Ryan Motovu of Ardana actually hosted a Twitter Space to answer questions. As expected, some people had some fire for him (not in the good emoji fire way) while others asked really good questions that were actually helpful in progress going forward. https://twitter.com/ArdanaProject/status/1596511862849507335
74. Subcritical hosted a Twitter Space with DC of Liqwid where the controversy with the sale of his Indigo tokens was addressed. https://twitter.com/SubcriticalTV/status/1596218694140514305
75. The Virtua Cardano Island landbot sale has been delayed to Wednesday and the free mint for holders of the 7 summit NFTs will be the day after. https://twitter.com/VirtuaMetaverse/status/1596219132797542406
76. Charles says the CFund is going to be asking some very hard questions about the Ardana failure and he’s very disappointed they had to find out about it via Twitter. https://www.youtube.com/watch?v=AA6_kHwxFpA
77. We have now passed the one year birthday of MuesliSwap which means it is also the one year birthday of DeFi on Cardano. https://twitter.com/MuesliSwapTeam/status/1464281537608830978
78. BlockFi has filed for Chapter 11 bankruptcy and it’s reported the hole is $1-10 Billion. https://restructuring.ra.kroll.com/blockfi/Home-Index
79. Today, I said very mean things about Apple…and I meant it. Some of this heavily impacts us in crypto and Cardano. https://twitter.com/ArmySpies/status/1597310943423516672
80. World Mobile is going stateside! https://twitter.com/WorldMobileTeam/status/1597328923238739968
81. Fidelity has launched their retail crypto business. It looks like it’s just BTC & ETH for now with others possible in the future. https://www.fidelity.com/crypto/help-desk/about-fidelity-crypto
82. Pomp gets hilariously ratioed for his past heavy promotion of BlockFi. https://twitter.com/Wade24T/status/1597243894718091264
83. Liqwid Labs has completed a $2.7 million seed round led by the CFund.It looks like this was an investment in the Team and Advisor allocation of tokens as opposed to Liqwid Labs equity. https://twitter.com/liqwidfinance/status/1597592725100302338
84. The Swift network is letting you know that they’ve already completed their initial experiments on how to connect all the central bank digital currencies. https://twitter.com/swiftcommunity/status/1597240666547015680
85. Here’s a really good point about gaming revenue vs. every other type of media and what that means for the future of crypto/blockchain/web3 based gaming. https://twitter.com/NFT_GOD/status/1597592022705213441
86. The Pavia Plaza live test event will be December 14th! https://twitter.com/Pavia_io/status/1597585142993805312
87. Vitalik makes a very good point here. Governance rights is a super weak narrative on which to base the value of a token. https://twitter.com/VitalikButerin/status/1597570120456769536
88. NMKR’s Rogue Galaxies is adding some heat to Cardano Web3 games. It’ll be a Roguelike sci-fi MMORPG. The first NFT drop will be December 9th. https://twitter.com/RogueGalaxies/status/1597612942807437312
89. LBRY is announcing that they have been “killed by legal and SEC debts”. https://twitter.com/LBRYcom/status/1597723017626681344

~Army of Spies

On this day(month) in history, Doge turns 9 years old. A brief trip down memory lane for the original meme coin.

2013:

Launched in December, a “meme coin” featuring a Shiba Inu dog as its mascot Dogecoin, a fork of Litecoin, was born. Despite originating as a joke, it commanded a large number of supporters due to its meme potential.

On December 19, Dogecoin jumped nearly 300% in value in 72 hours, rising from $0.00026 to $0.00095.

2014:

January 2014, the trading volume (not market cap) of Dogecoin briefly surpassed that of Bitcoin and all other cryptocurrencies combined. the coin was used to successfully raise $25,000 for the Jamaican bobsleigh team to get them to the Winter Olympics in Sochi.

This was also the year Doge went from having randomized rewards received for each mining block to a static block reward system.

2015:

After nearly 2 years co-founder Jackson Palmer left the community, having come to the belief that cryptocurrency, originally conceived as a libertarian alternative to money, is fundamentally exploitative and built to enrich its top proponents. On May 7, 2015, Dogecoin bottomed at $0.00008547, its lowest price since its creation.

2016:

Nothing super eventful. Dogecoin was starting to become more popular to use to tip people small amounts on social networks, like Reddit, because it had such a tiny value and it’s meme potential. But at this point the tip bot for the dogecoin sub was already 3 years old.

2017:

Obligatory “if you would have bought X amount of Doge 5 years ago you’d have X dollars”.

Keeping this nice and simple, we’ll use a price from December 2017. Doge is rank 33, priced at $0.0059

$100 invested then would leave you with around $1,694 now (at the time of typing this)

$1,000 invested then would leave you with around $16,940 now. So on and so forth.

At the end of May 2017, Dogecoin’s trading price rose from $0.001066 on May 16 to $0.003747 on May 23, a 251% increase. By late September of the same year, the coin’s trading price fell back towards $0.001134.

2018:

In early 2018, Dogecoin’s price rose briefly, hitting nearly a 2 billion market cap, reaching a high of around .017. But it soon followed the same fate as other crypto at the time as the market collapsed sinking down 86% by December from its previous high.

2019:

The month is April and Elon Musk Dogecoin hype is becoming viral on Twitter. Jokingly declaring himself the CEO of Dogecoin. Due to his large following the price of Doge fluctuates based off of tweets.

It was also listed on Huobi and Binance this year.

2020:

Ole Musky and his Twitter antics were about to set all time highs. From memes about Doge being inevitable standard of the global financial system to his “One word: Doge” tweet sending the coin up 14%, 20% and so on through tweets and average degens shilling and joining the hype. This is also arguably the last year that the Dogecoin sub would be considered “wholesome”.

2021:

Whether through the hype of short squeezed, mania, tweets, fomo, greed or all of the above Doge had made its way into the top 5. Hitting an ATH of $0.73, as per CoinMarketcap. All seemed well until May 8th, Elon makes an appearance on SNL, Doge dropped 34% from $0.71 at the opening of the show to below $0.47 about 45 minutes later. By the following morning Doge another 43.6%. Though the rest of the market was also on its way down, and then back up…and then back down. Doge has not returned to its ATH since.

2022:

Despite how people may feel about it as of December 1st, Doge sits at $0.10 rank 8. Finding it’s self in and out of relevance through its random pumps and the other many dog related coins and Elon. It’s been accepted by a few companies along the way, Tesla, Amc, Twitch, to name a few. It seems the crypto community has a rather interesting view on Doge.

Some like it, some hate it, some hate it a little less only in comparison to the more ridiculous coins that spawned during the last bull market. Doge has seen it’s fair share of bear markets, compared to some of this subs favorites and it’s outlasted other projects that were supposed to be big. I have no doubt it’ll outlast even more.

[Altcoin Discussion] - December 2022

Thread topics include, but are not limited to:

• Discussion related to recent events
• Technical analysis, trading ideas & strategies
• General questions about altcoins

Thread guidelines:

• Be excellent to each other.
• All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
• This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
• No discussion about specific ICOs. Established coins only.

If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

Other ways to interact:

• Get an invite to live chat on our Slack group and check out the #altcoins channel
• Daily Discussion for bitcoin only: Daily Discussion
• Prior Altcoin Discussion: Altcoin Discussion

Thursday, 1st December 2022

The Daily Spin. Trepid Thursday Edition. We return with a one-day catch up of current events in the space - yes, SBF did speak live during the DealBook Summit (hosted by NYT); you can watch the hour-and-a-half stream of BS through the last link of this issue. Coinweb heads towards its penultimate destination on its 2022 road trip, at the Global Blockchain Summit in London. Much love to the team there, who have been working extra hard on the front lines - we wish you the best and support you from the bottom of our hearts!

No surprise on the amount of FTX-contagion related content still dominating the crypto media, from exchanges proving that they’re doing their jobs correctly to mass claims of “nothing to do with it” or “here’s the huge dump that is going to occur because of it.” Another mysterious crypto-billionaire Russian oligarch buys the farm under questionable circumstances. Telegram is set to launch DEXs and non-custodial wallets, TradFi giant Fidelity officially enters the crypto-retail trading space. OpenSea adds BNB support, Binance continues its quest for world domination with 75% share of the Japanese market after the exit of Liquid Exchange (formerly Quoine). Gaming continues to boom without any regard to the macro-environment, Animoca commits $2bn for its metaverse investment fund. Bitcoin’s inflation rate of 1.7% still beats the FED’s 2% dream target, while elected officials and SECs continue their drone of dilettantish gaslighting. Brazil approves crypto as a formal payment method. And last but not least, Elon Musk continues to make waves in his clash with Apple …here is our round-up of curated news and opinions (surely biased) from the world of Blockchain, keeping you informed of the most trending, in-the-know, and controversial topics. In the name of transparent, information dissemination to keep you curious, inspired, and clinically sane…

Ongoings at Coinweb

It’s OK to Meetup Bangkok 2022, Nov 27 (Bangkok)
https://www.linkedin.com/posts/rukawin_thailand-blockchain-genesis-activity-7002871111134707712-YiCT?utm_source=share&utm_medium=member_desktop

Crypto AM Summit and Awards, Nov 23-24 (London)
https://twitter.com/tobycoinweb/status/1595909263263662081?s=46&t=V-EQfqnAOG7fXAWZ3sMk1Q

“Understanding the Great Crypto Tradeoff” by Toby Gilbert
https://dailyhodl.com/2022/11/16/understanding-the-great-crypto-tradeoff/

“The Time is Now for Blockchain” article on Times of Malta
https://timesofmalta.com/articles/view/time-now-blockchain-a2.994854

Toby’s full presentation at Token2049-London
https://youtu.be/pdtKx3vAs9c

Latest Video Release: Why Crypto Will Always Come Back (4mins)
https://www.youtube.com/watch?v=3Yl8Vwu4iNM

The EU Strategy for Cryptoassets – London
https://www.crowdfundinsider.com/crowdfunding-event/the-eu-strategy-for-cryptoassets-london/

Cryptomanran (CryptoBanter) comes by Coinweb booth at Token2049
https://youtu.be/RSZ3szjBHa0?t=779

Digital Assets Week, Nov 15-16
Toby joins “Tech for Institutional Grade Digital Assets” Panel with R3 and State Street
https://coinweb.io/events/london-invasion-part-2-digital-assets-week/

“Overlay Networks in Blockchain” thread published by Kawin on Twitter
https://twitter.com/rukawin/status/1585548192761856000?s=46&t=7I6cq6_CPaQuHqwEBk0wTg

Coinweb Fireside Chat Series, “Happy Halloweb3” Oct 27 (Bangkok)
Panel Discussion Audio Recording Feat. Coinbase, Binance, and McKinsey (47mins):
https://open.spotify.com/episode/175CCj57qgfy8Hd5Ft5poy?si=h4WghWcOQnutGohTrDcGNA

'Bridging The Gap Between Speculation And Fundamental Value In Digital Assets' at the Vietnam Blockchain Summit 2022
https://t.co/fvordozLxZ

​

On the Radar

PlayToEarn Blockchain Game Awards 2022 (Public Voting Dec 1-29)
https://cryptoslate.com/press-releases/playtoearn-blockchain-game-awards-2022-announced-with-10k-in-prizes/

Global Blockchain Expo, Dec 1-2 (London)
https://blockchain-expo.com/global/

ETH BKK Meetup, Dec 2 (Bangkok)

The EU Strategy for Cryptoassets, Dec 5 (London)
https://ecorys.idloom.events/the-eu-strategy-for-cryptoassets/pages/programme

RadFi2022, Dec 8 (Virtual)
Polygon Guild Meetup, Dec 8 (Bangkok)

World Blockchain Summit, Dec 8-9 (Bangkok)
https://worldblockchainsummit.com/bangkok/

World Crypto Conference, Jan 13-15 (Zurich)
https://worldcryptoconference.org/

​

On the Block(chain)

Gemini reveals $601M GUSD backing, 45+ licenses amid global exchange turmoil
https://cryptoslate.com/gemini-reveals-601m-gusd-backing-45-exchange-licenses-amid-rocked-market-trust/

NEXO releases proof of reserves showing no exposure to FTX
https://cryptoslate.com/nexo-releases-proof-of-reserves-showing-no-exposure-to-ftx/

Russian tycoon, 53, is killed in helicopter crash near Monaco in latest crypto mystery death - 'after another passenger cancelled at the last minute'
https://www.dailymail.co.uk/news/article-11480711/Russian-billionaire-53-killed-helicopter-crash-near-Monaco-latest-crypto-mystery-death.html

Over $643,000,000 in Solana (SOL) Now Controlled by Liquidators as Part of Alameda Research Bankrutpcy Process: On-Chain Data
https://dailyhodl.com/2022/11/28/over-643000000-in-solana-sol-now-controlled-by-liquidators-as-part-of-alameda-research-bankrutpcy-process-on-chain-data/

Bitcoin Volatility Index exceeds 100% for the third time in 2022
https://cryptoslate.com/bitcoin-volatility-index-exceeds-100-for-the-third-time-in-2022/

SBF Speaks u/Dealbook Summit: ‘Look, I Screwed Up’: Sam Bankman-Fried Is Challenged on the Collapse of FTX
https://www.nytimes.com/live/2022/11/30/business/sam-bankman-fried-interview?smid=tw-nytimes&smtyp=cur

SBF shifts blame to Alameda, claims ‘I didn’t knowingly commingle funds’
https://cryptoslate.com/sbf-shifts-blame-to-alameda-claims-i-didnt-knowingly-commingle-funds/

SilverGate CEO says “This type of volatility is not new to us,” as crypto market continues to struggle
https://cryptoslate.com/silvergate-ceo-says-this-type-of-volatility-is-not-new-to-us-as-crypto-market-continues-to-struggle/

BTC maximalists up in arms after Casa adds ETH
https://cryptoslate.com/casa-introduces-a-new-app-version-with-better-private-key-management/

Kraken to layoff 1,100 people to ‘adapt to current market conditions’
https://cryptoslate.com/kraken-to-layoff-1100-people-to-adapt-to-current-market-conditions/

Bitcoin’s current stability stems from market manipulation, ECP report
https://cryptoslate.com/bitcoins-current-stability-stems-from-market-manipulation/

Ethereum accumulation trend hits new highs following FTX implosion
https://cryptoslate.com/ethereum-accumulation-trend-hits-new-highs-following-ftx-implosion/

Insights on Sam Bankman-Fried’s ‘dark’ Republican political donations
https://cryptoslate.com/insights-on-sam-bankman-frieds-dark-republican-political-donations/

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Competitive Landscape

Telegram to build non-custodial wallets and decentralized exchanges, says CEO Pavel Durov
https://cryptoslate.com/telegram-to-build-non-custodial-wallets-and-decentralized-exchanges-says-ceo-pavel-durov/

Binance re-enters Japan, controls over 75% of exchanges’ monthly trading volume
https://cryptoslate.com/binance-re-enters-japan-controls-over-75-of-exchanges-monthly-trading-volume/

Animoca to launch $2B investment fund for metaverse
https://cryptoslate.com/animoca-to-launch-2b-investment-fund-for-metaverse/

XeggeX sets industry standards for exchange transparency
https://cryptoslate.com/xeggex-sets-industry-standards-for-exchange-transparency/

Game7 Launches $100 Million Grants Program to Push Web3 Gaming Development
https://news.bitcoin.com/game7-launches-100-million-grants-program-to-push-web3-gaming-development/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

The World’s Largest NFT Marketplace Opensea Adds BNB Blockchain Support
https://news.bitcoin.com/the-worlds-largest-nft-marketplace-opensea-adds-bnb-blockchain-support/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Report: NFT Firm Candy Digital Cuts Over a Third of the Company’s Staff
https://news.bitcoin.com/report-nft-firm-candy-digital-cuts-over-a-third-of-the-companys-staff/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Bitcoin․com Announces Strategic Partnership with Poly Network
https://news.bitcoin.com/bitcoin%e2%80%a4com-announces-strategic-partnership-with-poly-network/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Minimax․Finance Announces the Integration of VERSE DEX
https://news.bitcoin.com/minimax%e2%80%a4finance-announces-the-integration-of-verse-dex/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Fidelity Crypto is a go: $4.5 trillion firm launches retail crypto trading
https://www.kitco.com/news/2022-11-29/Fidelity-Crypto-is-a-go-4-5-trillion-firm-launches-retail-crypto-trading.html

Utherverse Partners with Tokensoft to Launch IDO for Native Metaverse Token
https://cryptoslate.com/press-releases/utherverse-partners-with-tokensoft-to-launch-ido-for-native-metaverse-token/

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World

Bitcoin’s 1.7% inflation rate performs better than the Fed’s 2% target
https://cryptoslate.com/bitcoins-1-7-inflation-rate-performs-better-than-feds-2-target/

US Treasury's Yellen Says Crypto Doesn't Have Adequate Regulation — Calls FTX Collapse 'a Lehman Moment'
https://news.bitcoin.com/us-treasurys-yellen-says-crypto-doesnt-have-adequate-regulation-calls-ftx-collapse-a-lehman-moment/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

SEC Strategic Plan: Crypto Initiatives Among Top Priorities Over Next 4 Years
https://news.bitcoin.com/sec-strategic-plan-crypto-initiatives-among-top-priorities-over-next-4-years/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Brazil approves cryptocurrency bill recognizing Bitcoin as a payment method
https://cryptoslate.com/brazil-approves-cryptocurrency-bill-recognizing-bitcoin-as-a-payment-method/

Elon Musk Warns of Severe Recession — Urges the Fed to Cut Interest Rates Immediately
https://news.bitcoin.com/elon-musk-warns-of-severe-recession-urges-the-fed-to-cut-interest-rates-immediately/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Elon Musk Says Apple Has Threatened to Withhold Twitter From App Store as Battle for Free Speech Escalates
https://news.bitcoin.com/elon-musk-says-apple-has-threatened-to-withhold-twitter-from-app-store-as-battle-for-free-speech-escalates/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

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Thought Leadership

Tokenomics 101: The Basics of Evaluating Cryptocurrencies - DeFriday #19
https://crypto.nateliason.com/p/tokenomics-101

FTX hits Asian markets hard as Korea, Hong Kong, Taiwan investors devastated – SlateAsia #1 (23 mins)
https://cryptoslate.com/videos/ftx-hits-asian-markets-hard-as-korea-hong-kong-taiwan-investors-devastated-slateasia-1/

Blockchain Pilgrimage: Regulating Crypto 'Should Be Combined With Education' Says Top Wadzpay Executive
https://news.bitcoin.com/blockchain-pilgrimage-regulating-crypto-should-be-combined-with-education-says-top-wadzpay-executive/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Cardano’s explosive DeFi growth | Twitter Spaces with Muesliswap`
https://cryptoslate.com/cardanos-explosive-defi-growth-twitter-spaces-with-muesliswap/

Watch Sam Bankman-Fried's first live interview at Dealbook Summit (1hr 25 mins)
https://youtu.be/0ik497cvvcE

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https://preview.redd.it/vj7gntgcn73a1.png?width=611&format=png&auto=webp&s=cbae916f21fd08eae07dd1bc1c4aad53bc947564

To All: This crypto-anarchist, 'Peruvian bull,' is egregiously-uneducated. He copies/pastes what he sees from google. Not DD at all. Ban Him. Every dollar going to shills like this is another dollar extracted from $GME and DRS. This is a $GME sub, not a sub for Gov't-defying, crypto anarchists.

Since when do we allow a known anti-$GME crypto collateral hedge that SHF used (Bitcoin) to be promoted on a $GME-specific sub? And since when do we pay people handouts for DD, just so they can take your money, so that you don't buy $GME with it and DRS?

Yet, here he begs, on his knees, for your money. He clearly lost all of his money on Shitcoin, \cough*, I mean Bitcoin.*

I'm calling this person out to be either a shill, or an egregiously-uneducated homeless anarchist who has motive to cause financial harm to others. It seems they want to bring everyone else to their abysmal level.

Hyperinflation is not 7% inflation - by any means. My God. Get a grip of yourself for five minutes, youngling. Request scholarships so you can attend your first college and learn how to not plagiarize google pictures and call it your own DD.

You're forgetting that the dollar is backed now only by one thing: the good faith of the United States Government. While you claim that hyperinflation is an exponentially-acute doom-spiral, allow me to enlighten you: we're not living through the French Revolution here. This is America, rookie.

There is something called the United States fucking military which is what backs that phrase: the good faith of the United States Government. That same military takes an oath to Defend, not any president - not any embodiment; instead, the military and all of its amazing personnel defend the document and what it stands for: the U.S. Constitution.

So, here's where you need an academic lesson:

• Unlike crypto-based hyperinflation, which can be near-instantaneous, fiat-based hyperinflation cannot happen acutely. It would demand government-violation societal disorder, such as with the French Revolution. If complete societal disorder is what you are advocating for, please let us all know. What would $GME's value be with utter societal disorder?
• Fiat-based hyperinflation takes hundreds to thousands of percentages of increase in the supply for it to relatively devalue the base currency
• The dollar is backed by the strongest military in the world. Since you haven't figured it out yet, the U.S. military, combined with its Western allies, is about ten orders of magnitude more lethal than any and all combinations of other nations in the world. Therefore, the italicized-phrase above does have merit. The dollar, therefore, does indeed have intrinsic value the likes of which no other currency - in the history of the world - has ever had.
• Currency valuation is also backed by labor of the nations the currency is assigned to.
• It is true that the U.S., as well as the rest of the globe, is bootstrapped with egregious debt, as exacerbated by the Pandemic. This does not mean that the world will just explode like you imply it will. Instead, upon any mistrust in the currency and the markets it backs (i.e. the stock market) there will be an initial liquidity crunch. This liquidity crunch means that the U.S. cash is king. Why do you think the U.S. dollar is going up so supremely, in relative value, this year and into today?

And no, Bitcoin is not going to be implemented as the currency of the future. It's too slow to transact, too slow for confirmations, and the proof-of-work mining of Bitcoins is now the globe's leading contributor to global warming. GameStop's Ethereum as the underlying is far better. It's backed by NFTs and digital utility which are the real antiques of the digital economy.

Remember: Since you clearly advocate for the world blowing up, and a digital commodity like Bitcoin taking over as the societal standard, then what would be safely backing the nation that headquarters GameStop Corp? And further, how quickly would Bitcoin as the de facto transaction-based asset contribute to the rapid melting of the permafrost, glaciers, and poles?

The only merit that can be applied to your post is the idea that there is indeed a technological shift already underway. One where the merger of the tangible and the digital worlds are taking place. This is a tech-driven shift, like the dawn of the personal computer and the internet in the late '90s, nothing more. The governments will adapt; they already are: look:

The U.S. dollar will not hyperinflate. The Federal Reserve's effective rate is already 3.83%. Inflation gets stifled in its tracks by the destruction of societal buying power, reduction of labor, and destruction of productivity. That's the only way to bring down prices, and cause the liquidity crunch that extracts the pent-up-demand-driven market-price-excesses from the economy. As soon as the effective fed rate makes every aspect of society uninvest-able, then those holding the supply of goods have no alternative but to drop their price to meet the willing buyers. That is how to drop inflation.

Value of anything is based on trust, perception, and the intrinsic benefit of the underlying. Although the U.S. dollar is devaluing, the derivative (slope) of inflation is already negative.

Further, the U.S. Government has already been forging the Central Bank Digital Dollar under Project Hamilton since just prior to the Pandemic that was somehow deployed in the far East. The Digital Dollar is designed to prevent sickos like Sam Bankman-Fried and Caroline Ellison from irresponsibly-stealing your cyberassets. I had blindly trusted that whole FTX partnership for a hot minute, and I became publicly embarrassed because of it. Let's all not forget, that for a second there, my GameStop board tried to align itself with that sicko Sam Bankman-Fried, whose girlfriend Caroline Ellison was publicly into polyamory, masochism, sexual hierarchies, and 'chinese harems'. To the GameStop board of directors: don't fucking let it happen again. Stay apolitical - fully politically neutral - and we'll all make a nice profit. Don't do what towel stock did by getting into politics.

GameStop Corp is mine, as well as all of ours. Not just yours- it's All of ours. GameStop is about having fun, playing video games, competing in Esports, and pushing into the digital economy of the metaverse. Stop making it about the end of the fucking world, ya goddamn anarchist. Get ahold of yourself.

To Peruvian Bull: go take your first intro to-economics class, and learn about the country that headquarters' GameStop Corp. And to that wannabe-professor who commented on your post: someone who plagiarizes what they see from google is not worthy of lecturing as a guest in any economics class. You have shown that you could not modify a supply and demand curve based on exogenous events if your begging-for-money-via-SuperStonk life depended on it. Nobody should pay you one dollar for what is supposed to be free DD on here. Stop sapping funds from DRS. GameStop will MOASS as soon as people like you [with google'd DD and incentive to destroy nation-states and hurt families] stops begging innocent GameStop investors on here for money.

Buy $GME, DRS, HODL.

Regards,

MoneyMaker111

Will Genesis Go Bankrupt? A Review of the Genesis/DCG Incident

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https://preview.redd.it/sy9rt0glp13a1.jpg?width=1800&format=pjpg&auto=webp&s=6624ac58e9ff1973722109f87871af97d97bfd3b

The collapse of FTX triggered an avalanche in crypto, Genesis and DCG are the most notable names among those affected. Speculators believe Genesis will have to file for bankruptcy if there's no new funding to cover the losses. We will discuss what's the business of Genesis and DCG and breaking down the incident and their future.

1/ What is DCG?
Digital Currency Group (DCG) is a venture capital company focusing on crypto. It was launched in 2015 by Barry Silbert. DCG has made 200+ venture investments and owns seven subsidiary companies: Genesis, Grayscale, CoinDesk, Foundry, TradeBlock, and HQ.

2/ What is Genesis?
DCG started from Genesis. Genesis is an institutional digital asset financial services firm. It aims to combine market data, exchange connectivity, and liquidity to provide an all-in-one service to institutional investors.

Based on its official announcement, the trading arm of Genesis is the only business affected by recent events. Other subsidiaries are independent entities and remain fully operational.

Some say that DCG will be forced to sell $BTC held by Grayscale's GBTC to cover the losses. However, DCG does not own the bitcoins in GBTC, the customers do. And the bitcoins are held in custody by Coinbase. So DCG can't sell them directly.

3/ What Happened?
With the fall of FTX/Alameda, many began questioning Genesis. It pretended everything was all right initially, but things quickly lost control.Less than 24 hours later, Genesis provided an update, admitting that they had incurred a total loss of ~$7 million.

https://preview.redd.it/21k6gh1ip13a1.jpg?width=1182&format=pjpg&auto=webp&s=c59c169d7ab2f8dc8ca802fdfc9ecd9299742aa8

Genesis caved in 5 days later when it suspended redemptions and new loan originations. FTX caused abnormal withdrawal requests that exceeded their liquidity. NYT has reported that Genesis was exploring options like bankruptcy, it had around $575M debts.

4/ What's next?
Without immediate new funding, the most likely outcome is that Genesis Global Capital files for bankruptcy. It is still being determined whether other Genesis businesses and DCG can generally stay afloat.

Genesis' funding sources included borrowing via the Gemini Earn and Circle Yield programs. These are short-term sources. If those dry up, then Genesis is forced to liquidate at unattractive prices. Unfortunately, Circle has already shut down Circle Yield.

https://preview.redd.it/2wbr9knip13a1.jpg?width=2316&format=pjpg&auto=webp&s=f569c8fdd1d33cb1ae10f354a30f7ebb2090e72c

5/ The Solutions
The first is to raise equity from DCG and inject capital to cover losses and restore confidence. But with Genesis's funding sources dried up. It desperately needs to find new cheap, yet reliable funding sources. Otherwise, it cannot sustain its regular business.

The other move for Genesis is to get acquired by powerhouses from traditional finance, this will be challenging due to regulatory scrutiny. Suppose no buyers in the market are interested in DCG or Genesis. In that case, the only outcome is bankruptcy.

7/
Read the full article at: https://tokeninsight.com/en/research/market-analysis/will-genesis-go-bankrupt-a-review-of-the-genesis-dcg-incident