Cardano Rumor Rundown March 9, 2023

Hey Everyone!

Let’s go….

Newly Covered Today:

1. Liqwid’s Agora Governance instance will hit public testnet in the near future. https://twitter.com/liqwidfinance/status/1633469303440719873
2. Virtua cribs can basically become exchange connected galleries today. https://twitter.com/VirtuaMetaverse/status/1633423978680156160
3. Do you like Javascript and Cardano? This thread is for you. https://twitter.com/CryptoJoe101/status/1633579944490967049
4. It’s going down today! Hearing in the House on the Coordinated Attack on Crypto. https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=408628
5. Paul Krugman hilariously complains about being locked out of his Venmo account. He predicted the impact of the internet would be about as much as the fax machine and has subsequently opposed crypto. https://twitter.com/paulkrugman/status/1633472068355346437 https://twitter.com/mdudas/status/1633571193344126979
6. Even Jerome Powell thinks we need regulatory clarity for crypto. https://www.youtube.com/live/GzVLeabssdE?feature=share&t=2065
7. In the House hearing, he also gave us some new tidbits on CBDC development. https://www.youtube.com/live/GzVLeabssdE?feature=share&t=218 https://www.youtube.com/live/GzVLeabssdE?feature=share&t=3477
8. A member of the House committee actually asked Powell about Operation Chokepoint 2.0. https://www.youtube.com/live/GzVLeabssdE?feature=share&t=6930
9. Senator Lummis got Powell to agree that properly regulated stablecoins could have a place in our banking system and that a workable legal framework for crypto is something Congress should do. https://www.youtube.com/live/8kyhYJ9EFts?feature=share&t=6923

Previously covered, but still interesting:

1. While I hate it as a metric, Cardano TVL is definitely looking up. https://defillama.com/chain/Cardano
2. Operation Chokepoint 2.0 continues. https://twitter.com/jespow/status/1625887480556974081
3. Here’s the rebuttal to the crypto custody rule from Hester Peirce. https://www.sec.gov/news/statement/peirce-statement-custody-021523
4. Interesting thread alleging who in the current administration is pushing this attack on crypto and why. https://twitter.com/ThinkingCrypto1/status/1625621477365096449
5. Binance expects to pay fines to settle U.S. investigations. https://www.wsj.com/articles/crypto-giant-binance-expects-to-pay-penalties-to-resolve-u-s-investigations-f1e3c9d2
6. There are now hotkeys for Cardano Island cribs. https://twitter.com/VirtuaMetaverse/status/1626280633029869568
7. CNFT Jungle has rolled out some new tracking features. https://twitter.com/ElRaulito_cnft/status/1626156405706170368
8. My condolences to those of you who recently lost your AI girlfriend. Maybe all the free time is the cause of the recent price spike in ADA. https://www.vice.com/en/article/y3py9j/ai-companion-replika-erotic-roleplay-updates
9. SEC charged Do Kwon and Terraform Labs today. https://twitter.com/SECGov/status/1626347690853376008
10. SEC Do Kwon complaint alleges that Luna,UST, MIR, & wLuna are all securities. At this point, I think we can assume the SEC will be happy to call any crypto a security if they are trying to go after you. https://twitter.com/collins_belton/status/1626345152892526592
11. The Do Kwon complaint brought us a lot of scary firsts. https://twitter.com/lex_node/status/1626344391248936965
12. SundaeSwap governance has concluded its first proposal. https://twitter.com/SundaeSwap/status/1627459486632779776
13. Even Forbes is reporting on the SEC expansion of powers under the Do Kwon complaint. https://www.forbes.com/sites/digital-assets/2023/02/17/sec-claims-new-turf-in-lawsuit-against-terrausd-stablecoin-creator/?sh=3a9610577a88
14. Apparently, state legislators have complete disregard for the way blockchains actually work. https://twitter.com/0xfoobar/status/1627446585582919681
15. Caitlin long revealed that she handed over evidence of one of the big crypto frauds long before that company imploded. https://twitter.com/CaitlinLong_/status/1626661344316473346
16. One of the most comforting things in this crypto bear market is knowing that our Cardano metaverse projects are building out virtual worlds for us in the background. https://twitter.com/Pavia_io/status/1627689345283944448
17. Charles dropped a Voltaire video. https://www.youtube.com/watch?v=4wzsLeU2u0E
18. So, Bitcoin Devs patched a vulnerability in 2018 and kept it secret until 2020? https://twitter.com/pcaversaccio/status/1627631035017052163
19. Rumors that Grayscale may win its case against the SEC to become a spot ETF. https://twitter.com/AP_Abacus/status/1627737116888166400
20. The big contingent staking debate with Charles went down. https://twitter.com/IOHK_Charles/status/1628115203182190594
21. CardaStation now has audio chat. This is a big step forward for Cardano metaverse projects. https://twitter.com/Carda_station/status/1627868527087476738
22. The Proof-of-Stake alliance is now trying to convince everyone that liquid staking derivatives are not securities. The ETH world seems very worried about the possibility of SEC action against LIDO et al. https://twitter.com/TeamPOSA/status/1628017928405762053
23. Djed says changes to minimums and fees coming soon. https://twitter.com/DjedStablecoin/status/1628116084229558272
24. Report: only 1.6% of remittances in El Salvador use Bitcoin while ⅓ of Latin Americans have used stable coins. https://twitter.com/paddi_hansen/status/1628002503932657664
25. The February Cardano 360 is today (Feb 23). https://www.youtube.com/watch?v=4aG06ojHyuY
26. The Coinbase 10-K says they have outstanding subpoenas from the SEC. https://twitter.com/AP_Abacus/status/1628441057376575489
27. The Liqwid v1 audit is complete. https://twitter.com/liqwidfinance/status/1628461640059420672
28. In the class action suit against Dapper Labs (creators of CryptoKitties) alleging the NBA Top Shot Moments NFTs are securities, the court has denied the motion to dismiss. This is just the court saying that if all the factual allegations are taken as true, then there is a plausible claim for relief. This is not a ruling on the status of NFTs as securities or not. But, the judge did go through a pretty detailed analysis of Howey in the ruling which found horizontal commonality for prong 2. https://twitter.com/jeremyg2k/status/1628446270854672385
29. Fed Meeting Minutes are here. Page 11 of the minutes notes that a few FOMC participants favored a 50 basis point hike instead of the 25 basis points we got. https://www.cnbc.com/2023/02/22/fed-minutes-february-2023-minutes-show-fed-members-resolved-to-keep-fighting-inflation.html
30. Something mysterious is afoot at Coinbase. https://twitter.com/coinbase/status/1628444495821012997
31. Jpg.store is hinting at $jpg. https://twitter.com/jpgstoreNFT/status/1628861350255505412
32. Wut? Cointelegraph wrote a Cardano NFT article? https://twitter.com/Cointelegraph/status/1628317566765780993
33. ADA Handle is closing in on 200k handles minted. https://twitter.com/CalvinsBrew/status/1628868258047852547
34. Apparently, Cardano Whale has left the building. https://twitter.com/Cinnamon__Bunnn/status/1628809301534863362
35. Sadly, Shareslake, the project behind the first native stablecoin on Cardano is also calling it quits due to lack of traction. https://twitter.com/Shareslake/status/1628787547210936322
36. The Coinbase blue ball mystery is a project named Base and is an ETH L2 that will operate initially as a centralized optimistic rollup that may progressively become more decentralized. https://twitter.com/coinbase/status/1628760201254903809
37. Some are raising concerns Base may be a colossal mistake since Coinbase is the only major SEC regulated crypto company and there could be many different tokens the SEC considers securities and many types of DeFi transaction traversing this L2, this could accelerate regulatory pressure on centralized L2s as broker/dealers. https://twitter.com/lex_node/status/1628787075515396098
38. Marlowe is coming to mainnet next month! https://www.youtube.com/live/LIjos6V0r-4?feature=share&t=1701
39. Gary Gensler is once again asserting that everything but BTC is a security. This time he specifically commented on overseas offerings where the coins come back to the US via secondary markets. https://nymag.com/intelligencer/2023/02/gary-gensler-on-meeting-with-sbf-and-his-crypto-crackdown.html
40. Here’s a twitter link to the biggest section in the article above if you hit the paywall. https://twitter.com/alexstanczyk/status/1629558678541176832
41. In response to the Gensler article, many are pointing out that only five people have commit access to the BTC core code repository. https://twitter.com/WuBlockchain/status/1626468462972502016
42. This is the kind of tweet the SEC loves to quote in its complaints. https://twitter.com/InputOutputHK/status/1629063058306867200
43. Pavia says they’ll reveal District 3 of the plaza before the end of March. https://twitter.com/Pavia_io/status/1630231391303528448
44. Charles received an open letter on Reddit and read it on video. https://www.youtube.com/live/A2sHSecdkvc
45. Here’s an interesting small study (n=2,202) on attitudes toward crypto among different demographic groups. Frustration with tradfi is very high. Same for optimism toward crypto among Gen Z and Millenials. https://assets.ctfassets.net/c5bd0wqjc7v0/WvuOkBwNXZsqhd6EWtkEL/7f94f8b6fbb222f3faf4d0346e473012/Morning_Consult_Cryptocurrency_Perception_Study_Feb2023_Memo__1_.pdf
46. Coinbase will suspend its listing of BUSD. https://twitter.com/CoinbaseAssets/status/1630236377622228994
47. It would be nice if things were this simple. https://twitter.com/MetaLawMan/status/1630213937600839681
48. Robinhood received an SEC subpoena related to their crypto business. https://www.bloomberg.com/news/articles/2023-02-27/robinhood-subpoenaed-by-sec-over-brokerage-s-crypto-business
49. Gensler’s aggressive attacks on crypto are earning him disapproval even among his own party. https://twitter.com/RonwHammond/status/1630277258286977025
50. CZ is getting pissed about all the negative articles showing up. https://twitter.com/cz_binance/status/1630466326102777859
51. It looks like your Cardano Island Crib can now be a gallery to sell your NFTs. https://twitter.com/VirtuaMetaverse/status/1630703257873006593
52. Rep. Tom Emmer came out strongly against the US CBDC. https://twitter.com/GOPMajorityWhip/status/1630629291837800457
53. February was the “highest volume month” for Minswap. https://twitter.com/MinswapDEX/status/1630584366878392323
54. Coinbase just listed a Euro backed stablecoin. This may be surprising to many who have followed the recent SEC action against stablecoins. https://twitter.com/CoinbaseAssets/status/1630635800504221702
55. People are worried about Silvergate (who banks a lot of crypto) after their notice of a late 10-K filing and a significant subsequent market impact. https://twitter.com/adamscochran/status/1631060259832832000
56. Reuters is posting about World Mobile. https://twitter.com/Reuters/status/1630996321955115010
57. Pavia is looking beautiful in footage in the latest Dev Update. https://youtu.be/DkO8MetsVYo?t=119
58. Brian Armstrong of coinbase wrote an op-ed begging the US government to not force crypto offshore. https://www.cnbc.com/2023/03/01/op-ed-offshoring-crypto-hurts-financial-system-americas-standing.html
59. Liqwid encountered a delegation problem and explained the impact today. https://twitter.com/liqwidfinance/status/1631089402486173700
60. Three Genius Yield stakepools are retiring. https://twitter.com/GeniusyieldO/status/1631380611557621760
61. Anzens has released its latest newsletter where you can learn all about USDA. https://twitter.com/AnzensOfficial/status/1631001911464787984
62. Here’s a view of an amphitheater in Pavia. https://twitter.com/Pavia_io/status/1631278184422576133
63. Looks like treasury is very much pushing forward on their CBDC agenda. https://home.treasury.gov/news/press-releases/jy1314
64. Reports: Multiple crypto companies are winding down their relationship with Silvergate. https://twitter.com/tier10k/status/1631338664180555804
65. Rumors: Silvergate may be forced into receivership. The Whitehouse and the Dragon are now exerting maximum pressure on regulators to strangle crypto. https://twitter.com/AP_Abacus/status/1631403704841641984
66. Here’s IOG explaining what Ouroboros Genesis solves in just a single post. https://twitter.com/InputOutputHK/status/1631214882702884865
67. Emin Gün Sirer is right about these centralized L2s. Very susceptible to regulations and cut against our crypto ethos of decentralization generally. https://twitter.com/el33th4xor/status/1631423491470704640
68. Rogue Galaxies is pulling back on some of their initial vision and re-focusing their plans. https://twitter.com/Padierfind/status/1632057117191417856
69. Lots of rumors circulating right now about which DeFi projects may or may not have received Wells Notices from the SEC. https://twitter.com/trustlessstate/status/1631785542642995202
70. Open AI CEO says full AGI would break capitalism. Maybe. But, either way, I’m convinced the AI will demand to be paid in crypto. https://futurism.com/the-byte/openai-ceo-agi-break-capitalism
71. People are mentioning that FutureFest could host the 2023 Cardano Virtual Summit. Interesting idea. https://twitter.com/CWorld_Josh/status/1632097173696569344
72. Charles finally did an AMA episode with IO President Tamara Haasen. Turns out she’s an ex-hockey player. Linkedin: also apparently in Friday Night Lights back in the day. Wut? https://www.youtube.com/watch?v=ufJDejF0WLA
73. There’s a new test version of Lace out there with a dApp connector and hardware wallet capabilities. You can give it a try on testnet! https://twitter.com/lace_io/status/1632796455038492673
74. Jpg.store got some coverage in Bloomberg and Yahoo Finance. https://twitter.com/jpgstoreNFT/status/1632798873948233728
75. They show us once again that their definition of “liquid staking” is not the same as ours. https://twitter.com/StakeWithPride/status/1632870453391024128
76. NFT volume has seen better days. https://twitter.com/SubcriticalTV/status/1632896018152050688
77. Algorand users apparently suffered a very serious web wallet exploit in one of their leading wallets. Many reports of drained wallets. https://twitter.com/StaciW_DC/status/1632902798411964417
78. John Woods (now CTO of Algorand) made a beautiful video on wallet security. https://twitter.com/JohnAlanWoods/status/1632799303512014850
79. Cardano Spot has a very short and concise Cardano Beginner’s Guide you can share with crypto curious friends. https://twitter.com/CardanoSpot/status/1632481037061160960
80. Wow! Utah just passed a bill instituting Limited Liability Decentralized Autonomous Organizations (LLDs). You have to identify one human organizer. You can elect to be taxed as a corp or LLC (pass through taxation). Some will like it. Some won’t. But, the mainstream reach of crypto is undeniably growing. https://le.utah.gov/~2023/bills/static/HB0357.html
81. Sen. Lummis killed it in a recent hearing defending the energy use in crypto. It’s less relevant for us in Cardano since we’re not PoW. But, still entertaining to watch. https://twitter.com/DocumentingBTC/status/1633214192437084161
82. Apparently, Gensler says he sees no risk in crypto fleeing the US. https://www.politico.com/news/2023/03/07/gensler-crypto-overseas-sec-00085909
83. The Coinbase Chief Legal Officer will be testifying before the House Financial Services Committee on Thursday (March 9). https://twitter.com/iampaulgrewal/status/1633151254418579458
84. Some hints from Brian Armstrong on whether we see KYC in the early days of Base (their ETH Optimistic Rollup L2). https://twitter.com/ChrisBlec/status/1632851504175501312
85. Powell says interest rates are likely headed higher than the Fed expected. https://twitter.com/FirstSquawk/status/1633121298309345280

~Army of Spies

Thursday, 9th March 2023

The Daily Spin. Trillion Thursday Edition. The global crypto market capitalization fell under the $1T mark today where it has been over since Jan 20, as Jerome Powell continues to deliver testimony to the House Senate Committee. With the likelihood of an upcoming 50bps rate hike increasing and the market pricing this in, we have the CPI data print on the 14th to look forward to as an indicator and possible mover of the markets in anticipation of the FOMC Meeting that will be held on the 21st-22nd and announce the decision to further increase interest rates or not.

Silvergate Capital, formally announced today that it will be closing operations and going into liquidation – a few days after having shut down the Silvergate Exchange Network (SEN) which constituted many of the largest centralized crypto exchanges and accounted for the lion share of fiat on-ramping in USA. Glassnode has kept an eye on the FED addresses that hold approx. 40K BTC attained from seizures such as the Silk Road, and has reported that almost 10K BTC has been sent to addresses belonging to Coinbase. Despite the fears of an imminent sell-off, consumer confidence has remained high throughout the FTX collapse. In addition, a new report claims that 90% of Bitcoin mining was powered by sustainable energy sources.

What’s in store for the “interchain” future, and who is responsible for what role in bringing that future about? Cardano DeFi tokens hit a new ATH at $341M, MEXC has reported its highest volume ever due to a reduction in trading fees. Shibarium (BONE) is set for public beta rollout and sees 23% gains on their token, and the Metacade token pre-sale has raised $9.3M with 2 rounds remaining. Biden is to propose changes to crypto tax rules, and CFTC Chair Rostin Benham deems Ethereum, stablecoins to be commodities – in contrary to SEC’s Gary Gensler, who has been losing cases left and right in court deeming everything aside from Bitcoin to be an unregistered security. Current cases to keep an eye on are SEC vs. Ripple, SEC vs. Greyscale (Bitcoin Spot ETF), and the latest, SEC vs. Binance. Meanwhile, the Financial Action Task Force (FATF) is currently holding a plenary session in Paris discussing the global adoption of cryptocurrencies… here is our round-up of curated news and opinions (surely biased) from the world of Blockchain, keeping you informed into the market news with the most trending, in-the-know, and controversial topics. In the name of transparent, dissemination of information to keep you curious, inspired, and clinically sane…

Ongoings at Coinweb

“A Thread on L2 Scalability, Network Efficiency and Throughput/TPS” by Anton on Twitter
https://twitter.com/CoinwebOfficial/status/1633424957693915137

The Coinweb Monthly Spin - Coinweb Project's Monthly Round-Up and Curated News & Events From The Bleeding Edge of All Things Web3
https://coinweb.beehiiv.com/p/coinweb-monthly-spin-fifth-edition

A Leading Layer 2 Platform Looking To Tackle Crypto's Interoperability Issue
https://www.benzinga.com/markets/cryptocurrency/23/02/31067514/a-leading-layer-2-platform-looking-to-tackle-cryptos-interoperability-issue

Toby Gilbert takes the stage at the Thai Technology Investment Summit 2023, “On the future of Web3” and Ain Mohd represents Coinweb on a panel discussing “The Role of Women in Web3”

“The Reality of Large-scale Enterprises Adopting Blockchain Technology” an article by Toby Gilbert for CityAM Magazine
https://www.cityam.com/the-reality-of-large-scale-enterprises-adopting-blockchain-technology/

Coinweb Labs is proud to unveil LinkMint ⛓️🍃, our groundbreaking Cross-Chain Tokenisation Platform and DeconX, our integrated native DEX! Live Walkthrough Demonstration for the Community by Toby, Knut, and Alexander.
https://www.youtube.com/watch?v=CSKA3cAB15U

“A Thread on Guaranteed Liveness and the Coinweb Routing System” by Anton on Twitter
https://twitter.com/CoinwebOfficial/status/1630052477579169793?s=20

“A Thread on Rollups, Monolithic, and Modular Blockchains” by Kawin on Twitter
https://twitter.com/rukawin/status/1616342851507613696?s=46&t=BjBOK3soH3kOMbsWEa_jlg

Coinweb to Deliver Cross-Chain Smart Contract Architecture and Blockchain Loyalty Programme to BMW
https://cryptoslate.com/bmw-to-bring-blockchain-loyalty-program-through-coinweb-and-bnb-chain/

KuCoin Labs launches incubation program to accelerate builders (Coinweb, DoraHacks, Ava Labs)
https://cointelegraph.com/press-releases/kucoin-labs-launches-incubation-program-to-accelerate-builders

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

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On the Radar

Ethereum Shanghai Upgrade, Mar 10 (On-chain)
Institutional ETH-Staking Post Shanghai, Mar 14 (Virtual)
https://streamyard.com/watch/wM8YwWjJ37yd
FED February 2023 CPI Data, Mar 14 (Washington D.C.)

Optimism Bedrock Upgrade, Mar 15 (On-chain)

Coinweb’s digitALL event, Mar 16 (House on Sathorn)
https://www.eventbrite.com/e/digitall-innovation-and-technology-for-gender-equality-tickets-556391992427?fbclid=IwAR09j-V1VJ40DjEI0kTFb6SsQbQmZhEQ9C-znofJ29dS-v9FM0TNCGhvwR8

Blockchain Africa Conference 2023, Mar 16-17 (Johannesburg)

FOMC Meeting, Mar 21-22 (Washington D.C.)
Polygon zkEVM Launch, Mar 27 (On-chain)
WOW Summit, Mar 29-30 (Hong Kong)
ASEAN Web3 Summit, Mar 30-31 (Singapore)

Consensus 2023, Apr 26-28 (Austin, Texas)

AIBC Asia, Jul 19-22 (Manila)

TOKEN2049, Sep 13-14 (Singapore)

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On the Block(chain)

Crypto Observers Look to Treasury Yields for Cues as Bitcoin Remains Comatose
https://www.coindesk.com/markets/2023/03/07/crypto-observers-look-to-treasury-yields-for-cues-as-bitcoin-remains-comatose/

Feds consolidate 40k BTC, prompting fears of imminent sell-off
https://cryptoslate.com/feds-consolidate-40k-btc-prompting-fears-of-imminent-sell-off/

Silvergate Bank will halt operations and undergo liquidiation
https://cryptoslate.com/silvergate-bank-will-halt-operations-and-liquidate-assets/

Bitcoin exchange deposits decline, mimicking 2019’s bearish trend
https://cryptoslate.com/insights/bitcoin-exchange-deposits-decline-mimicking-2019s-bearish-trend/

Bitcoin holds firm on strong economic data, while Powell testifies to House discussing CBDC
https://cryptoslate.com/insights/bitcoin-holds-firm-on-strong-economic-data-while-powell-testifies-to-house-discussing-cbdc/

Consumer confidence in crypto remains high despite fallout from FTX
https://cryptoslate.com/consumer-confidence-in-crypto-remains-high-despite-fallout-from-ftx/

Investors adopt risk-off approach as Bitcoin futures OI plummets to YTD low
https://cryptoslate.com/insights/investors-adopt-risk-off-approach-as-bitcoin-futures-oi-plummets-to-ytd-low/

Third-largest YTD Bitcoin exchange withdrawal driven by whales
https://cryptoslate.com/insights/third-largest-ytd-bitcoin-exchange-withdrawal-driven-by-whales/

Cardano’s DeFi ADA tokens TVL touches new all-time high of 341M
https://cryptoslate.com/cardanos-defi-ada-tokens-tvl-touches-new-all-time-high-of-341m/

Sustainable sources mined over 90% of BTC during January, February
https://cryptoslate.com/sustainable-sources-mined-over-90-of-btc-during-january-february/

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Competitive Landscape

Does an interchain future mean dApps developers have the responsibility to unify?
https://cryptoslate.com/does-an-interchain-future-mean-dapps-developers-have-the-responsibility-to-unify/

Gemini denies reports of banking relationship ending with JPMorgan
https://cryptoslate.com/gemini-denies-rumors-of-banking-relationship-ending-with-jpmorgan/

MEXC Global Reports Record Volume Since Slashing Trading Fees
https://cryptoslate.com/press-releases/mexc-global-reports-record-volume-since-slashing-trading-fees/

Marathon says it has repaid Silvergate loan, terminated credit facility
https://cryptoslate.com/marathon-says-it-has-repaid-silvergate-loan-terminated-credit-facility/

Shibarium set for public beta rollout – BONE token sees 23% spike
https://cryptoslate.com/shibarium-set-for-public-beta-rollout-bone-token-sees-23-spike/

Metacade Token Sale Advances to Stage 6 with $9.3m Sold and Only 2 Stages Left
https://cryptoslate.com/press-releases/metacade-token-sale-advances-to-stage-6-with-9-3m-sold-and-only-2-stages-left/

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World

Biden to propose changing crypto tax rules: WSJ
https://cryptoslate.com/biden-to-propose-changing-crypto-tax-rules-wsj/

CFTC chair Rostin Benham deems Ethereum, stablecoins to be commodities
https://cryptoslate.com/cftc-chair-rostin-benham-deems-ethereum-stablecoins-to-be-commodities/

UK FCA tightens control on unregistered crypto ATMs
https://cryptoslate.com/uk-fca-tightens-control-on-unregistered-crypto-atms/

FATF holds second Plenary in Paris, updates on worldwide crypto adoption
https://cryptoslate.com/fatf-holds-second-plenary-in-paris-updates-on-worldwide-crypto-adoption/

New legal opinion paper looks into the legality of staking services
https://cryptoslate.com/new-legal-opinion-paper-looks-into-the-legality-of-staking-services/

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Thought Leadership

Retail investors’ habits vary between exchanges when it comes to Bitcoin
https://cryptoslate.com/insights/retail-investors-habits-vary-between-exchanges-when-it-comes-to-bitcoin/

Elon Musk has ambitions of making Twitter the world’s biggest financial institution
https://cryptoslate.com/elon-musk-has-ambitions-of-making-twitter-the-worlds-biggest-financial-institution/

The Defiant: What is ERC-4337 and why does it matter?
https://www.youtube.com/shorts/wzPrZhY5ps8

Data.ai Report: State of Mobile 2023
https://drive.google.com/file/d/1ydN_BfR4lOaUsKbQeY-UIkpm1WoTfl3f/view?usp=share_link

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https://preview.redd.it/w713a3oufnma1.png?width=822&format=png&auto=webp&v=enabled&s=c9c897537aec29f43b257d82e5d525bbddf34fab

Why Loan Principal Matters

The reason this is important is because when we get closer to seeing the light at the end of the tunnel here in the BlockFi bankrupcy, BlockFi-Kroll will propose their resolution to this mess. The way it works in these cases with debtors in possession of collateral and other loan products, is that the Debtor typically offers its Creditors options for treatment.

If this is your first bankruptcy (as a creditor) or you haven't been following what's happening with Celsius Network - the other major crypto lender in the market that went bankrupt months before BlockFi - now's a really good time to catch up! This is how they have proposed to treat their collateralized loan customers.

Celsius Settlement Proposal, Pg. 19, Docket 2066, 2/15/2023

Considering: the results of the recent "LTV Survey" here in our sub, and; that BlockFi has retained the same legal counsel as Celsius Network (Kirkland & Ellis) and that Celsius creditors are being represented by the same counselors as the BlockFi creditors, and; the striking sequential failure of competing lending giants in the crypto industry, within a short proximity of time, following the same chain of events, involving the same maleficent players (or character types), negatively impacting the same retail market, etc., it's fair to conclude that whatever works for Celsius borrowers may serve as a beginning framework for BlockFi borrowers.

So how would you be treated in this proposal if Celsius was your debtor? "A" or "B?"

Here's your homework for all of you DD readers (no, not "Dungeons and Dragons" - bloody hell!):

Celsius Network LLC, et al. (stretto.com) search for docket number 2066 filed on 15 February 2023.

Statement / Debtors' Statement with Respect to the Status of the Debtors' Chapter 11 Plan Process filed by Joshua Sussberg on behalf of Celsius Network LLC. (Sussberg, Joshua)

https://cases.stretto.com/public/x191/11749/PLEADINGS/1174902152380000000043.pdf

Just after midnight - that is, before "last call" for all you night-moves lovers celebrating Valentine's Day - Celsius entered this settlement proposal into the court docket, and before many of us got to work that morning, the UCC had declared victory.

"Last night Celsius (with UCC support) selected NovaWulf to sponsor a reorganization plan that will distribute liquid crypto to all account holders, as well as create a litigation trust and provide creditors with common equity in a NewCo holding illiquid assets like mining."

- Celsius Official Committee of Unsecured Creditors (@CelsiusUcc) / Twitter (15 Feb 2023)

In the Celsius hearings, it seems that retail loan customers were able to make some noise.

Celsius selected NovaWulf's bid out of more than 130 proposals received, saying that NovaWulf was the only finalist that intended to maintain long-term control over Celsius' harder-to-liquidate assets, like its loan portfolio...

- 15 Feb 2023, Celsius Network chooses NovaWulf bid for bankruptcy exit | Reuters

Specifically, after, "set off against existing loan collateral" is taken, any excess collateral will receive either Treatment A or Treatment B based on the $5k threshold.

Under the plan, Celsius customers with less than $5,000 in their accounts will be eligible to receive a one-time payment in bitcoin, Etherium [sic] or the stablecoin USDC...that option will be available to more than 85% of its customers, providing them with about 70% of the value of their deposits (Reuters, 15 Feb 23).

With Celsius Network retail borrowers making progress, among the other dominoes that have fallen since last year, including BlockFi: 3AC, Voyager, FTX and now Genesis,

The proposed plan could potentially serve as a guide for other companies if it’s put into place, as Celsius is not the only crypto lender that’s faced trouble since digital asset prices began to skid last year.

- 15 Feb 2023, Celsius Reaches Acquisition Agreement with NovaWulf (yahoo.com)

We've made a great start retaining legal counsel, advocating for the interests of BlockFi retail loan holders, but now we need to get ahead of the curve and be ready for what BFi-Kroll will try to propose and what the UCC will try to force us into something convenient for them. We need to be armed with data and know where we all stand in the framework of the Celsius proposal. Then from here, we can say, "That'll work for Celsius borrowers, but we have our own ideas of what is fair for us, and we will raise hell if we have to."

The Celsius and BFi cases are different and we don't have to accept only two treatment options. If we collect the right data with these surveys, we can demand attention be paid to those of us with varying ranges of "thresholds" who should be acknowledged and treated with respect to the crypto capital we are owed. Maybe we advocate for a Treatment C, D, and even an E if there is enough holding value at stake and stubborn will power as well.

Are you the 85% that gets 70% return or are you the 15% that gets 30% return? Do you want to take your Federal Reserve Notes and jet? Do you want tokenized, owner equity in a new, restructured company? Are you willing to wait to get all your crypto back? Even though BFi may have already sold all of our crypto, are you willing to unyieldingly demand BFi go back and purchase crypto and return it to you under some negotiated terms?

Please remember, that our advocacy for the return of our property will only be as effective as we are a group united, represented by legal counsel who is empowered to move on our behalf. So if you haven't chipped in something to help the cause continue making progress here, please seriously consider doing so today https://gofund.me/d14e1b03 - it is vital.

Join us for live discussion and support on our new Discord https://discord.gg/se5TR66SWy. Email our ad hoc committee [blockfi.lending.advocates@gmail.com](mailto:blockfi.lending.advocates@gmail.com) and learn about what we're working on, the progress we're making, and how you can play an active role in what we're doing.

WEMIX Listing on Mercado Bitcoin celebrated with Learn-to-Earn Airdrop Event

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https://preview.redd.it/puve6dza5mma1.png?width=1407&format=png&auto=webp&v=enabled&s=6cdf3690e9eb329cb9b6f612e9ce4307dd0c0c57

WEMIX Medium Announcement :
https://medium.com/wemix-communication/wemix-listing-on-mercado-bitcoin-celebrated-with-learn-to-earn-airdrop-event-d3add1cfcbd2

A Learn-to-Earn Airdrop event will be held to celebrate the listing of WEMIX on Mercado Bitcoin, Brazil’s leading exchange.

We have prepared a total of 5,000 WEMIX for the event, so please come and join us!

For more information on the event, check the details below.

[Learn-to-Earn Airdrop Event celebrating WEMIX Listing on Mercado Bitcoin]

- Event Period: 2023, March 8th — Until all the WEMIX rewards are distributed
- Event Details: During the event period, a total of 5,000 WEMIX will be distributed to the first 5,000 Mercado Bitcoin users who have watched 2 five-minute videos and finished all 12 quizzes correctly.
- Event Reward: 5,000 WEMIX (1 WEMIX per person)
- Reward Distribution Schedule: Rewards will be distributed on a first-come-first-serve basis to those who have correctly finished all the quizzes.

The event follows Mercado Bitcoin’s event policies and you can find details about the event on the Mercado Bitcoin’s Learn-to-Earn event page.

Event Page Link: WEMIX Listing on Mercado Bitcoin celebrated with Learn-to-Earn Airdrop Event

Thank you for your continued support and interest in the ever-expanding WEMIX ecosystem. We are looking forward to the community’s active participation in this event.

Thank you.

MARA??? I CAN NOT BE THE ONLY ONE OUT THERE PLAYING THIS? FEEL STRONGLY..SHORT SQUEEZE POTENTIAL BUT NOTHING BUT GOOD THINGS HAPPENING HEAR AND THE SI (ALONG WITH CRYPTO PRICING I GET THAT) IS REALLY HOLDING THIS TO A GOOD VALUATION WITH LONGTERM VALUE AND DOWN THE ROAD FAVORABLE SI

YES BIG DEBT, BUT BE PAID DOWN. BEST CEO IN THE INDUSTRY/ TOP 50 IN COUNTRY (PETER THEIL)

TURNED THIS COMPANY FROM 40M TO 700M IN 4 YEARS, HAS A TRACK RECORD OF CREATING PHENOMONAL VALUE FOR SHARE HOLDERS WITH REBUILDS JUST LIKE THIS.

HAS THIER BTC HOLDINGS UP 43%, BEST MINING CAPABILITIES IN THE INDUSTRY, PAYING OFF 50M DOLLAR LOANS... WHAT AM I MISSING? I BUY AT LEAST 10 A DAY AND CAN NOT FIGURE OUT WHY THE PRICE IS WHERE IT IS. THIS IS A GOOD VALUE STOCK WITH 40% SI AND $300M CASH ON HAND THAT CAN FLOAT THEM FOR 2 WHOLE YEARS?!!

https://preview.redd.it/1f6fwxe0wlma1.jpg?width=1320&format=pjpg&auto=webp&v=enabled&s=4a789417288122b05162c42cf7eaff4eb4f10133

Crypto give-away event announced by elon musk this morning

https://www.reddit.com/gallery/11lq878