"Obstacles are things a person sees when he takes his eyes off his goal."
–E. Joseph Cossman
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Happy Saturday Folks! Last week the market continued the crab crawl with a hiccup above $26K briefly possibly due to the FASB change and the filing of ETH ETF applications. As I type Bitcoin is trading at $25,850.82 and for the week (M-F) Bitcoin was up $207.70; week over week it's up $35.33. The best performing asset in the past 7 days was again $TRX - up 3.05% in position #10 on Coinmarketcap.com; just baffling. Last week the Fear and Greed Index was at 39 and today it's 41; will it creep out of Fear this week?
Thanks for reading, watching, and listening with me each and every week!
THE WEEDS
Monday the price of Bitcoin closed at $25,664.50 and the most covered news of the day was focused on the Spot Bitcoin ETF and its inevitability.
Podcast of the Day: Bitcoin L2’s, LN, BTC++, Base58 - Lisa Neigut (SLP509) | SLP
Tuesday the price of Bitcoin closed at $25,785.90 and the most covered news of the day was about BitGo developing plans to provide custody services to Hana Bank in Korea.
Podcast of the Day: Part 3 - How Bitcoin Fixes Money with Lyn Alden | WBD
By Wednesday (Humpday) the price of Bitcoin closed at $25,826.40 and the most covered news of the day was about Grayscale urging the SEC once again to convert GBTC to a Spot Bitcoin ETF.
Podcast of the Day: Proof of Work - Marathon Digital Holdings | TCC
Right over the hump on Thursday the price of Bitcoin closed at $26,269.70 and the most covered news of the day was the big news that the FASB is upgrading the accounting rules to eliminate a major impediment to corporate adoption of Bitcoin as a treasury reserve asset; Michael Saylor celebrated.
Podcast of the Day: BREAKING! MicroStrategy Wins Fair Value Accounting! | Crypto Town Hall | TWOAS
As the week came to a close on Friday the price of Bitcoin closed at $25,872.20 and the most covered news of the day was about two former CEOs and their legal troubles, not to mention SBF/FTX and all that drama, coupled with LBRY's fight against the SEC.
Podcast of the Day: How Big A Deal Are The Changes to Crypto Accounting Standards? | The Breakdown
WEEKEND NEWS
New data reveals that over 180 individuals around the world now own at least $100 million worth of crypto assets.
Bitcoin UTXOs echoing March 2020 'black swan' crash — New research. McGlone believes that crypto’s rise to prominence in a time of zero interest rates could spell trouble for the nascent industry as loose monetary policies rapidly reverse.
Binance (BNB) Becomes Second Largest Private Taxpayer in EU Country.
Emmer intends to introduce an appropriations amendment that will limit the SEC’s utilization of funds for digital asset enforcement until comprehensive rules and regulations are implemented. Michael Barr expressed “strong concern” about stablecoins and appreciation of legislative efforts to address them at the Philadelphia Fed’s fintech event.
FTX wants to retrieve money paid to Shaquille O’Neal. Prosecutors are exaggerating the amount of access FTX founder Sam Bankman-Fried really has to defense material, his attorneys said in a memo late Friday. Stuart Alderoty highlighted that Gensler had requested an urgent appeal despite asserting that crypto regulations and rules were clear and must be adhered to by the industry.
Vitalik Buterin’s X account hacked, over $700K drained from victims’ wallets.
Lesson: What is BNB Chain and how does it work?
THE WEEDS
Crypto Market
- Adoption (TDH)
Bitcoin
- Analysis (Cointelegraph)
- Opinion (TDH)
Exchanges
- Binance (UToday)
Legislation/Regulation
- Tom Emmer (Cointelegraph)
- Stablecoin (Cointelegraph)
Legal Cases
- FTX (CryptoPotato)
- SBF (CoinDesk)
- Ripple vs SEC (Cointelegraph | Cointelegraph | Cryptoglobe)
Attacks/Hacks/Scams
-Vitalik Buterin (Cointelegraph | CryptoPotato | TB | BIC | BIC | TDH | CoinDesk)
