GM crypto fam, hope everyone is doing great.

I'm not sure if many of you have seen the news that Silvergate Capital Corporation has decided to voluntarily liquidate Silvergate Bank. As I'm fairly new to the world of crypto and this seems like a significant development in the crypto-banking industry, I'd like to hear your thoughts and opinions on it.

How big of an impact is this going to have on the industry as a whole? What do you think the implications of this decision are for the future of crypto-banking?

sources:

https://twitter.com/thetokenist/status/1633591603083325445

GM crypto fam.

So, the NY Department of Financial Services has ordered Paxos to stop minting BUSD effectifly as of yesterday (Feb. 21st).

How big of an impact is the government's crackdown on crypto going to have on the crypto market's growth in the US?


source:

https://app.getresponse.com/view.html?x=a62b&m=BJvOSR&mc=9M&s=BtgXWnG&u=QcLhh&z=EJo0QoX&

GM crypto fam.

As I was doing my usual Friday market recap, I came across this interesting story about Moody's working on developing a rating system for stablecoins.

So apparently, Moody's is working on a stablecoin rating system that will grade stablecoins depending on the quality of the reserve attestations.

As a stablecoin supporter, I really like this idea because it feels like this is the missing piece. But with Terra's collapse and everything that's been going around in the crypto space lately, it seems like many people have lost their confidence in stablecoins.

I'd like to get your input on this, as you're probably more experienced than I am.

Could this move rekindle interest in stablecoins?

Source:

https://app.getresponse.com/view.html?x=a62b&m=BJSRD2&mc=9M&s=BtgXWnG&u=QcLhh&z=ECi4GHI&

GM crypto fam.

As I was doing my usual Friday market check-in, I came across an unbelievable story about a new FTX CEO wanting to reopen FTX, and FTT token surged 30% on the news.

I'm really curious to hear your opinion about this. Is there something I'm missing? Why would anyone be willing to go back to FTX after what it did to the industry?


Sources:

https://www.bloomberg.com/news/articles/2023-01-19/ftx-token-jumps-after-new-ceo-says-exchange-could-restart

https://app.getresponse.com/view.html?x=a62b&m=BVDWtR&mc=9Q&s=BtgXWnG&u=QcLhh&z=ECFYM10&

GM crypto fam.

So, I've recently found out that Nexo's offices in Bulgaria were raided, but I don't really understand the reasoning behind it, which is alleged money laundering.

Can someone confirm or elaborate on that?

Sources:

https://app.getresponse.com/view.html?x=a62b&m=BV3yIb&mc=9C&s=BtgXWnG&u=QcLhh&z=EznBtil&

https://forkast.news/headlines/nexo-office-bulgaria-raided-fraud-money-laundering-suspicion/

GM crypto fam,

As I was doing my regular Friday "catching up" routine. I came across this story, and I'm not sure I understand everything.

So, a court declared that $4.2B worth of customer deposits belong to Celsius, allowing the company to use the digital assets in bankruptcy proceedings. But what happens to the customers now? Will they ever get repaid?

Source:

https://app.getresponse.com/view.html?x=a62b&m=BVxpy5&mc=9I&s=BtgXWnG&u=QcLhh&z=ESSrIqt&

https://www.coindesk.com/policy/2023/01/05/celsius-earn-assets-belong-to-bankrupt-crypto-lender-judge-rules/

GM/GN everyone.

Help me understand this, please.

Following the collapse of the FTX, which impacted valuations and reduced investor interest, Goldman Sachs aims to invest or spend tens of millions of dollars buying crypto companies. Which indicates to me that they clearly see some benefits of blockchain if it's under their control.

Why would one of the biggest investment banks in the world want to buy FTX's scraps?

Sources:

https://www.reuters.com/technology/goldman-sachs-hunt-bargain-crypto-firms-after-ftx-fiasco-2022-12-06/

https://app.getresponse.com/view.html?x=a62b&m=BVUS7v&mc=9Q&s=BtgXWnG&u=QcLhh&z=Ey5USsN&

GM bitcoin fam.

So, I was doing some research on how can I protect my earnings and came accross the information that in response to falling crypto prices and increasing energy expenses, publicly listed Bitcoin miners were forced to sell nearly all of the BTC that they've mined in 2022.

IMG from the original source: https://imgur.com/VSPSlfi

What I'm wondering here is if there is a way for miners to hedge against shrinking margins? Do you think hedging strategies could help us stay solvent amid the bear market?

Source:
https://tokenist.com/public-bitcoin-miners-forced-to-sell-99-mined-btc-in-2022-report/

GM crypto fam.

So, after the FTX debacle, big exchanges rushed to prove their reserves, and that ended up with Mazars halting all work with crypto firms.


What I dont uderstands is, how can we know which tests will demonstrate the solvency of a centralized crypto exchange? Who is to say that funds cannot be shifted at any time, like SBF did from FTX to Alameda?

Source:

https://app.getresponse.com/view.html?x=a62b&m=BVHuSm&mc=9M&s=BtgXWnG&u=QcLhh&z=ECiRVqJ&

GM crypto fam.

The SEC claimed that FTX's exchange token FTT was sold as an investment contract, making it a security. Adding:


Could this decision have an impact on similar tokens, given that almost every exchange issues its own tokens?

Source:

https://www.sec.gov/litigation/complaints/2022/comp-pr2022-234.pdf

https://tokenist.com/sec-classifies-ftt-as-a-security-could-binances-bnb-be-next/

GM crypto fam.

Since I'm pretty busy and can't keep track of everything, even though I'd like to, this is something that I don't understand very well and would like to get your opinion on.

So, Binance recently halted USDC withdrawals because outflows reached $2B, which indicates to me that many investors are worried about their state, even tho they resumed withdrawals shortly after that.


What is all the fuss surrounding Binance? Do you believe the recent difficulties could cause another crypto market downturn?

source:

https://app.getresponse.com/view.html?x=a62b&m=BVKQj2&mc=9I&s=BtgXWnG&u=QcLhh&z=EGCLwcu&

GM/GN crypto fam.

So, apparently, despite everything that has happened in 2022 and is still happening, crypto funding is set to surpass 2021 funding.

I honestly don't understand how that could be the case with everything that has happened in the past 11 months.


Can the overall crypto space recover until 2023, or is crypto funding going to decline in 2023?


Source:

https://app.getresponse.com/view.html?x=a62b&m=BVlN1b&mc=9I&s=BtgXWnG&u=QcLhh&z=ECp6MIP&

GN/GM Crypto fam 

I've recently come across this story about Telegram planning to launch its own wallet/exchange and wanted to see your opinion on the matter, since I don't know how to feel about it or if it's good for the overall crypto space or not.


Do you think that this could actually work, and potentially be a decent rival to Binance?

Sources:

https://tokenist.com/telegram-slams-crypto-over-centralization-plans-own-wallet-exchange/

https://app.getresponse.com/view.html?x=a62b&m=BVIvsN&mc=9M&s=BtgXWnG&u=QcLhh&z=EVQsIuo&

Hi crypto fam.

So the ECB is making some strange claims that this is Bitcoin's "last stand before the road to irrelevance," citing that BTC is down 77% from its last all-time high. How can this be true when everything that's been going around since the launch of BTC just goes against that claim?

So, to summarize, the ECB is essentially asserting that Bitcoin's end is drawing near. But it seems like the ECB's assertion is... unjustified if we consider the reasoning they've provided, as well as the present problems with Bitcoin.


AND, if you look at Bitcoin's history, it has also had some bumps in the road (2014 and 2018), but Bitcoin has had massive returns to offset these bearish years.

Do you think this bear cycle will be more severe than previous ones? What are your thoughts about these claims?

I'm just out here wondering on what basis they're making such assumptions.


Sources:

https://app.getresponse.com/view.html?x=a62b&m=BVIvsN&mc=9M&s=BtgXWnG&u=QcLhh&z=EVQsIuo&

https://www.ecb.europa.eu/press/blog/date/2022/html/ecb.blog221130~5301eecd19.en.html

GM crypto fam. Happy December!

I've seen that several exchanges are trying to increase client transparency after the FTX crash by disclosing their Proof of Reserves. Since there is no way to determine whether the exchange is not using client funds to cover hidden debt or anything, I personally don't buy any of this.

Since I'm genuinely unsure of whether I'm missing something, I figured I might get some helpful insights from more experienced people here.

Is PoR actually enough after all that has happened so far? 


Source: https://app.getresponse.com/view.html?x=a62b&m=BVGySe&mc=9I&s=BtgXWnG&u=QcLhh&z=EShzGUd&

Hi guys, I'm curious to see what you have to say about this.

So, SBF has been exposed as a fraud. He stole billions. Countless people have been scammed by him. He has not been arrested.

Now, on 11/30, Wednesday, he will be allowed to be a guest speaker for the DealBook summit in New York.

Am I the only one that thinks there should be outrage? What do you guys think? Will it actually happen?


Source:
https://tokenist.com/sbf-confirmed-he-will-be-speaking-at-ny-times-dealbook-summit-on-nov-30th/

GM Crypto Fam - was going over the Friday newsletters, and came across this interesting topic about DeFi benefiting from CeFi’s eroded trust.

I mean, it is obvious by now that SBF exploited customer funds, so where can we put our digital assets without them being obscurely abused? Given that the proper DeFi platform is self-regulated, and is hosted on a public blockchain, all transactions are visible, etc.

Do you also believe that DeFi is the solution to the current problem, or is there something else on your mind?


Source: https://app.getresponse.com/view.html?x=a62b&m=BI4aTG&mc=lE&s=BtgXWnG&u=QcLhh&z=EhEgsn&

All three exchanges have, as the headline indicates, delisted FTX token pairings from their cryptocurrency exchanges.

The FTT/BTC, FTT/BNB, FTT/ETH, and FTT/USDT trading pairs have been deleted off Binance's platform, according to the company, since they did not pass recent checks. The FTT/BUSD pair is still accessible on the market, the exchange stated.

https://twitter.com/binance/status/1592020929999159296

The perpetual swap contracts related to FTT have been delisted by all exchanges except Binance and BitMEX. Its FTT/USD and FTT/USDT pairings are included in this. The exchange explained their justification for delisting as a drop in spot trading of the pairs. KuCoin has delisted their FTT/USDT perpetual contract on KuCoin Futures, similar to BitMEX.

GM Crypto Fam, we all know that lots of firms were impacted by the FTX's fallout, like BlockFi, Galaxy Digital, Wintermute, etc.

I'll use the example that made me wonder about this in the first place.


Since FTX filed for bankruptcy this Friday, what happens to Galaxy Digital's $47.5 million? What am I missing here?

Source of the quote:
https://app.getresponse.com/view.html?x=a62b&m=BI7D9x&mc=lE&s=BtgXWnG&u=QcLhh&z=EF6QS1l&

Hi crypto fam.

It appears like Alameda is attempting to supply USDC on aave, borrow USDT on aave, and then exchange USDT for USDC on curve.

They have a quarter of a million bucks to use for this. ($250.000).

They are now just concerned with saving themselves they don't care about the crypto ecosystem.

We may presume that much of the $30 billion USDT that FTX supposedly possessed was transferred to Alameda.

Although USDT has marginally depreciated (by around a penny), we are aware that its foundation isn't the strongest.

Ethereum Transaction Hash (Txhash) Details | Etherscan

https://twitter.com/simianderiv/status/1590686564602245121?t=VKC6-OKvC0mo4YSJhkjRMg&s=19