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This week in crypto we found out that as many as 1,200 old bitcoins from dormant addresses had been moved in the days since the FTX collapse, Palantir co-founder Joe Lonsdale warned that the crypto meltdown could worsen in the future, the Silvergate CEO addressed concerns that the bank could be near insolvency, a Mazars report revealed that Binance’s bitcoin reserves have a 101% collateralization ratio, and a US judge ordered Celsius to return $50 million-worth of crypto to custody account users.
In the continuation of the FTX saga, former Alameda CEO spent more than $10 million on luxury properties months before the exchange collapse, Sam Bankman-Fried publicly refused to testify in the US House Committee, the US House Financial Services Chairwoman Maxine Waters said it’s ‘imperative’ that Bankman-Fried attended the hearing on December 13, Coinbase CEO Brian Armstrong said that he believed Bankman-Fried stole customer funds, and a former US federal prosecutor said Bankman-Fried should be “very concerned about prison time”.
Vitalik Buterin revealed five features that excited him the most about Ethereum, and Tether included offshore Chinese Yuan (CNH₮) stablecoin on Tron to its offering. Circle changed its mind about seeking a public listing in the near future, ConsenSys reduced the retention of MetaMask user data to 7 days following a backlash, Nexo said it would leave the US after discussions with the regulators hit a stalemate, and ByBit was planning to cut its workforce by 30% due to poor market conditions.
Meanwhile, Binance CEO warned about a new hack type targeting crypto industry, North Korean hackers created a bogus crypto exchange that infects users’ devices with malware, a 25-year-old US man got sentenced to 18 months in jail for stealing more than $20m worth of crypto, and DappRadar found that November alone saw record-breaking $4.88bn worth of crypto lost or stolen.
South Korean prosecutors failed in their effort to arrest the Terraform Labs co-founder Daniel Shin after a court turned down their request, a court in China determined that NFTs represent virtual property and are protected by law, the Japanese government was set to adopt the FATF crypto AML guidelines into the national law, El Salvador President slammed ‘the mainstream media’ over their attacks on the move to adopt BTC as a legal tender, and Russian lawmakers were inching closer to legalizing crypto mining. Meanwhile, a tailor’s shop in Ukraine was exposed as a front for an illegal crypto mining operation.
Jokes time!
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First things first, let’s see what the charts say.
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An ankle-breaking year.
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Also, who needs tables. Or houses. Be one with the outside.
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The path is the only path you can path on.
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This one’s a toughie.
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Don’t worry, keep HODLy.
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Everything is fine.
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Be honest now. Is it 4?
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It’s in whatever you look.
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Never show’em your tears!
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👀
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No?… I also have no milk. Inflation. Crypto’s down……
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Expert analysts in action.
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In an orderly fashion.
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It’s an art.
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It’s a skill.
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Looking to send him to crypto traders anonymous.
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It’s a global epidemic of traumatized phones.
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Here’s a look at a breakeven future.
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And finally, a documentary focusing on crypto events over the past month.
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