FFATH 💸 Vitalik moves 40k ETH🐻BEARS & ₿ Harvard says HODL $BTC
We are very Far From All Time High
Your one-stop source for the most important crypto news of the week.
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Headlines
₿ Harvard research paper tells governments and central banks to hold Bitcoin
🇸🇻 El Salvador President Nayib Bukele launches special agency focus on Bitcoin
🍏 New York’s mayor seeks balance with regulators after PoW mining moratorium
🇷🇺 Russia to launch state-run crypto exchange
🇦🇷 Should Argentina offer Bitcoin bonds to follow El Salvador?
🇯🇵 Japanese digital Yen pilot to begin ‘in Early 2023’
🇹🇷 Turkey to confiscate ‘suspicious’ assets related to FTX
🐻 Most Americans turn bearish on Bitcoin
🐤 Elon Musk suggests Twitter 2.0 will support payments
🐤 Twitter aims to integrate Signal protocol for encrypted messaging
⚖️ CZ Says crypto adoption will happen ‘regardless’ of government regulation
⚖️ Genesis Global Capital investigated by U.S. regulators
⚖️ Canada crypto regulation: Bitcoin ETFs, strict licensing and a digital dollar
⚖️ SEC Chair Gary Gensler criticized for approach to crypto regulation by US lawmaker
⚖️ US Senate committee schedules FTX hearing for Dec. 1
⚖️ Bitcoin is not a security says Belgium’s regulator
Featured Story
The future of crypto is a bear to predict.
According to a recent study, Americans are turning bearish on Bitcoin. Since the fall of FTX, most Americans have taken more pessimistic views on the price of $BTC over the next 5 years predicting the price to drop further. Yet, in the same study, 38% of those surveyed said cryptocurrency will still be around in 10 years, compared to 32% who didn’t think so. Unsurprisingly, the study found that crypto owners were more optimistic about both the short-term and long-term health of cryptocurrency.
As of now, crypto markets appear to be performing worse than traditional markets. Experts across the board seem to be in agreement that a crypto winter is upon us, and while many companies are falling by the wayside, many still continue to build and invest.
“Fear can be a powerful ally” is something Darth Maul said in Star Wars, and there are many industry leaders leaning into that sentiment. Today, the Crypto Fear & Greed Index is tilted quite significantly toward fear but for the longs and developers, this economic downturn is an opportunity. According to Institutional Investor back in September, this may all be a part of the industry's evolution into the long game, an exciting possibility for institutional investors.
Web3 gaming is beginning to take off with games like Gods Unchained and Kiraverse making their debuts. Mainstream wallets like Ledger have finally released their cards making real-world payment possible, and the list of companies accepting and investing in cryptocurrency continues to grow. For this author, DeFi has become an easier topic of discussion among my peers, who seem more interested in the prospect of keeping their own funds safe and away from centralized institutions. The companies that do survive this trend may end up building the future of blockchain.
So what do you think? Time to get out while you can or hunker down in a few companies you think will really make it? Let us know on Twitter and Linkedin!
FTX Drama
👉 Ian Allison, the reporter who first disclosed Alameda’s balance sheet didn't expect such a huge impact
💸 SBF invested $11.5m in Farmington state bank in Washington St. (nearly double the bank’s value).
💸 Alameda Research withdrew $204M ahead of bankruptcy filing
💸 Was FTX being used to launder money for the democratic party?
📺 Amazon reportedly making a docuseries on FTX’s collapse
Insider News
⁉️ Tornado Cash developer Alexey Pertsev to stay detained until next year’s hearing
🐶 Shiba Inu sees nearly 100% weekly burns
⚽ KuCoin survey: 70% of crypto investors tune in for FIFA World Cup 2022
👉 Vitalik Buterin moves 40,000 ETH
🔥 StarkNet makes Cairo 1.0 open source in first step toward community control
👉 Ethereum developers share considerations for Shanghai upgrade
🔥 Polkadot nomination pools have more than 500,000 DOT currently bonded
👉 Polkadot rolls out new anti-scam initiative for ecosystem
🦊 ConsenSys addresses concerns over plans to collect MetaMask wallet users’ data
🤣 BitBoy flies to Bahamas to find Sam Bankman-Fried
👻 Aave feeling the squeeze even after failed attempt by Mango hacker
👻 Aave community proposes governance changes following attempted crypto exploit
👉 Charles Hoskinson says failed Cardano stablecoin project a total loss on investment
👉 Number of Cardano smart contracts grows over 300% in 2022
👉 There are currently 1,146 projects building on Cardano
👉 New troubling fact about Solana
📺 Top 7 Bitcoin documentaries to watch
Reads
📚 PowerPool's LUCY and what it brings to $LUSD
🧵 A short story about Avi potential intentions, what really happened, and the future of Aave - Rudy kadoch
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