"Let your mind alone, and see what happens."
 –Virgil Thomson

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Happy Tuesday Folks! Yesterday, we learned that a lot of hacking and scamming was going on. Mixin Network got hacked for $200M, HTX got hacked for $8M, and UpBit Aptos token got scammed; we also learned that MicroStrategy BTFD. Today, it appears even though they keep buying they are still understand. Meanwhile, BitBoy got arrested - why is this news? Bitcoin is trading down up at $26,238.36. Let's get on with the news...

SUMMARY

Almost no one wants to be paid in crypto.

Consistent with the volatile crypto market, the past few months have been filled with uncertainty for Bitcoin (BTC). However, the bears appear to be in control, with the premier cryptocurrency trending toward the $26,000 mark in the past few days. Bitcoin exchange volume tracks 5-year lows as Fed inspires BTC hodling. MicroStrategy's Bitcoin investment has recently come under scrutiny. The company's Dollar Cost Average (DCA) for its entire Bitcoin investment stands at approximately $29,000. With Bitcoin's current price hovering around $26,275, it is evident that MicroStrategy is holding its Bitcoin assets at a loss. Bitcoin gains legal recognition as digital currency in Shanghai China. US Bitcoin holdings plummet as regulatory uncertainty triggers mass exodus. 

"Libbitcoinkernel" is a far-reaching, in-progress face-lift of Bitcoin's code that's been flying under the radar, but is likely to make it easier for developers to experiment with changes to Bitcoin. Bloomberg Intelligence Senior Macro Strategist Mike McGlone has recently shared he believes that the price of the flagship cryptocurrency Bitcoin ($BTC) is now in the “process of reverting” and could move downward in the near future. Meanwhile, Jamie Coutts emphasized that two particular metrics—namely, the number of long-term Bitcoin holders and the volume of transactions on the Bitcoin blockchain—are at historic peaks. Bloomberg crypto market analyst Jamie Coutts says that Bitcoin (BTC) may be at risk of being taken over by the powerhouses of the legacy financial system.

Bernstein analysts eye potential bitcoin ETF approval by ‘early 2024.’ However, Bitwise Investments chief investment officer Matt Hougan expressed skepticism about the inclusion of surveillance sharing agreements in spot bitcoin ETF proposals from competing firms. He noted that these agreements, while seemingly robust, might not necessarily serve as a surefire path to regulatory approval. Mike Belshe says politics are playing a major role as to why there’s no spot-based Bitcoin ETF existing in the US. Bloomberg's crypto analyst Jamie Coutts reveals BlackRock's substantial behind-the-scenes involvement in Bitcoin mining. Arbitrum users can now trade Bitcoin mining power with each other. Lawmakers urge SEC Chair Gensler to allow spot bitcoin ETFs 'immediately.' Now, Bitwise amends spot Bitcoin ETF application with new, detailed argumentation.

Bitcoin Ordinals inventor Casey Rodarmor says a fungible token protocol like Runes wouldn’t leave as much “junk” on the Bitcoin network as that of BRC-20 tokens. Lauren Belive, a former official with the White House’s Office of Legislative Affairs and policy director with the United States House Committee on Rules, has joined crypto firm Ripple as its head of U.S. public policy and government.

CBDCs could support a more stable economy — if banks pull the strings. But, US Federal Reserve Banks say stablecoins could ‘become a source of financial instability.' mBridge CBDC project preparing for new members, launch of minimum viable product. Circle's EUR-pegged stablecoin on Stellar now means that EURC is live on three different blockchains including Ethereum and Avalanche. Binance Japan, the division of the world's largest crypto exchange, has revealed its collaboration with Mitsubishi UFJ Trust and Banking Corporation (MUFG), Japan's largest banking group, worth $3.1 trillion in total assets.

Binance restarts in Belgium three months after order to stop. Binance’s liquid staking ether saw a sudden $500 million burst of inflows over the weekend, pushing its total locked value (TVL) to $1.2 billion, according to DefiLlama. Kraken secures money license registrations in Spain and Ireland. Ripple ex-partner MoneyGram unveils new Crypto wallet with Stellar. Chase UK blocks crypto-linked payments due to increasing fraud and scams. Gemini invests $24M for expansion in India.

Crypto bills could be delayed as many prepare for US gov’t shutdown. Meanwhile, US Senator Kirsten Gillibrand is reportedly attempting to convince her fellow Democrats to support legislation to increase regulatory clarity for cryptocurrencies. IRS proposed rule on digital asset broker reporting could kill Crypto in America.

Crypto influencer Ben Armstrong (BitBoy) arrested trying to confront former business partner. Celsius creditors vote in favor of reorganization plan and Celsius has recently selected Coinbase to act as a distributor for international customers, but the deal has yet again set the SEC on edge. Sam Bankman-Fried’s counsel again asks for jail release ahead of trial and he won't be able to tell the jury about his pre-trial detention after a New York district court judge ruled on a series of motions about what may be brought up in the trial that's due to start next week. U.S. Treasury goes after Ethereum wallet used by Sinaloa Cartel for fentanyl trafficking.

CZ appoints Binance security team to track Huobi HTX stolen funds. Lazarus Group Becomes TRON Whale After CoinEx Hack, Holding 137M TRX. A number of cryptocurrency platforms reporting billions in daily trades on CoinMarketCap appear to have been misleading their customers about holding certain crypto licenses, an investigation by Cointelegraph has found. Police in Portland, Maine, have sent out a warning about scammers targeting residents of the area. British man Sunil Kavuri reveals $2,100,000 loss from downfall of Crypto exchange FTX.

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Crypto
 - Adoption (Blockworks | CoinDesk)
Bitcoin
 - Price (NewsBTC | CoinDesk)
 - Metrics (Cointelegraph | Finbold | CryptoPotato | TB)
 - Adoption (Cointelegraph)
 - MicroStrategy (UToday)
 - Development (Decrypt)
 - Opinion (Cryptoglobe | Cryptoglobe | TDH)
 - ETF (Blockworks | Blockworks | TDH | TB | Cointelegraph)
 - Mining (UToday | CoinDesk)
 - Ordinals (Cointelegraph | Decrypt)
Altcoins
 - Ripple (Cointelegraph | TB | BIC)
CBDCs/Stablecoins
 - Adoption (Cointelegraph)
 - Fed (Cointelegraph)
 - mBridge (Cointelegraph | Blockworks)
 - Circle (Decrypt | CoinDesk)
 - Binance (Cointelegraph | TB | UToday)
Exchanges/Wallets/Banks
 - Binance (Coindesk | TB | CoinDesk)
 - Kraken (Cointelegraph | TB | CoinDesk | Blockworks |  BIC)
 - MoneyGram (UToday | Blockworks | TB | Cointelegraph | BIC)
 - JPMorgan Chase (TB | Cointelegraph | TDH | BIC)
 - Gemini (Cointelegraph)
Legislation/Regulation/Taxation
 - Crypto Bills (Cointelegraph)
 - Democrats (TDH | BIC)
 - IRS Rule (CoinDesk)
 - Treasury (Cointelegraph)
Legal Cases
 - BitBoy (TB | CoinDesk | Cointelegraph | BIC | Finbold | CryptoPotato)
 - Celsius (TB | CoinDesk | CryptoPotato | TB)
 - SBF (TB | Cointelegraph | TB | CoinDesk)
 - Sinaloa Cartel (TB | CoinDesk)
Attacks/Hacks/Scams
 - HTX (Cointelegraph)
 - Lazarus Group (BIC)
 - Bitspay (Cointelegraph) 
 - Maine Scammers (BIC)
 - FTX (TDH)