Norbert Neuser

• FTX debtors reported that the various company silos had more than $4 billion in scheduled assets as of November 2022. • Crypto donations and transactions were not available, but there was a reported $25 million in donations from three silos. • An investigation into crypto transactions to FTX company insiders, including former CEO Sam Bankman-Fried, is still ongoing. FTX Debtors Report Assets The debtors in FTX’s bankruptcy case have reported that the various company silos had more than $4 billion in scheduled assets as of November 2022, according to a March 17 filing with the United States Bankruptcy Court for the District of Delaware. In their presentation to the…

MakerDAO Files Emergency Proposal MakerDAO, the issuer of the Dai (DAI) stablecoin, have requested an „urgent executive proposal to mitigate risks to the protocol“ due to having multiple collaterals worth over $3.1 billion exposed to USDC tail risk. Proposed Changes The proposed changes include reducing the debt ceiling for several liquidity provider collaterals to 0 DAI, reducing daily minting limits for two stability modules from 950 million DAI to 250 million DAI and increasing fee from 0% to 1%, eliminating exposure to decentralized finance protocols Curve Finance and Aave entirely, and increasing protocol’s debt ceiling for Paxos Dollar (USDP) from 450 million DAI to 1 billion. Reasoning Behind Proposal The…

• Coinbase, a US-based cryptocurrency exchange, has acquired One River Digital Asset Management. • The newly acquired firm will transition to become Coinbase Asset Management, an independent business and wholly-owned subsidiary of the crypto exchange. • Eric Peters, CEO of One River Digital, will stay to lead the firm under the name Coinbase Asset Management. Coinbase Acquires One River Digital Asset Management United States-based cryptocurrency exchange Coinbase has acquired cryptocurrency-focused hedge fund One River Digital Asset Management (ORDAM). As part of the acquisition, ORDAM will transition to become Coinbase Asset Management and its team will join the crypto exchange. Furthermore, CEO Eric Peters will be staying on board to lead…

• Coinbase reported a 12% drop in transaction volumes during Q4, with revenues down 57%. • The exchange is trying to defend its staking program against the SEC’s scrutiny. • Paul Grewal, Coinbase’s chief legal officer, has argued that the products are fundamentally different than those of Kraken. Coinbase Reports Falling Q4 Revenue Coinbase reported a 12% drop in transaction volumes during Q4 2020, resulting in an overall 57% decrease in revenue year-on-year. Despite this, subscription and service revenues increased 34%, giving investors some hope for the future. SEC Scrutinizing Coinbase’s Staking Program The U.S Securities and Exchange Commission (SEC) is currently investigating Coinbase’s staking program following Kraken’s $30 million…

•CleanSpark has purchased 20,000 new Antminer S19j Pro+ units for $43.6 million •The machines are expected to boost the company’s computing power by 37% •The rigs offer a better return on investment compared to other ASICs of the same generation CleanSpark Purchases 20,000 New Bitmain Rigs Bitcoin miner CleanSpark announced that it has purchased 20,000 new Antminer S19j Pro+ units for $43.6 million. The acquisition is expected to boost the company’s computing power by 37% and bring its total number of miners purchased during the bear market to 46,500 units. Discounted Price Per Terahash CleanSpark will pay $32.3 million for the machines after applying coupons at a 25% discount or…

• RR/BAYC Co-founder Brian Quarmby has filed an opposition notice against 10 trademark applications from Yuga Labs. • The USPTO Trademark Trial and Appeal Board is currently reviewing the opposition notice. • A Yuga Labs spokesperson suggested that the move is just a way to cause trouble for the firm. Opposition Notice Filed Against Yuga Labs Brian Quarmby, one of the founders of the Bored Ape Yacht Club (BAYC) copycat NFT collection RR/BAYC, recently filed an opposition notice against 10 trademark applications from Yuga Labs. The move follows an ongoing intellectual property dispute between BAYC creators Yuga Labs and RR/BAYC founders Ryder Ripps and Jeremy Cahen. The United States Patent…

• Bitcoin, along with select altcoins, have seen a strong bullish undercurrent despite the positive U.S. jobs data for January. • Institutional traders appear to be sitting on the sidelines amidst the current crypto bear market. • Technical analysis of top 10 cryptocurrencies shows that Bitcoin and some altcoins may witness profit booking in the near future. Strong Bullish Undercurrent Rakesh Upadhyay’s price analysis suggests that Bitcoin and select altcoins are showing strength despite the release of positive U.S. employment data for January, indicating a strong bullish undercurrent in the market. Markets expect that the Federal Reserve will slow down its rate hikes as inflation has started cooling down and…

• The United States Federal Reserve Board has denied Custodia Bank’s application to become a member of the Federal Reserve System. • The bank applied for a master account in 2020 and sued the Fed over the long delay in considering the application in June. • Custodia Bank’s statement indicated that its master account application remains pending. The United States Federal Reserve Board has denied Custodia Bank’s application to become a member of the Federal Reserve System. The bank applied for the application in 2019 and sued the Fed in an attempt to speed up the decision. The announcement from the Federal Reserve Board cited that the application was „inconsistent…

• The Slamdance Film Festival, an Oscar-accredited film festival for indie filmmakers, will feature the premiere of the film Fuzzy Head, which was funded through the blockchain-powered crowdfunding platform Untold.io. • Untold.io has partnered with Dapper Labs to accelerate the technology and allow wider access to its programs. • The platform has also supported other notable films, including The Comeback Trail starring Robert de Niro and Morgan Freeman. This year, the Slamdance Film Festival, an oscar-accredited film festival for indie filmmakers, will be embracing blockchain and crypto-funded film projects and initiatives. The festival will debut the new film Fuzzy Head, which received its funding through the blockchain-powered crowdfunding platform, Untold.io.…

• Bitcoin and select altcoins have risen above stiff overhead resistance levels, signaling that the bottoming process may have begun. • Glassnode data suggests that the foundation for a macro bottom in Bitcoin may be in place, with 13% of the circulating supply having returned to profit. • Ether is also witnessing signs of accumulation, with the number of Ether sharks rising by 3,000 since November 22. The cryptocurrency market has been on a roller coaster ride over the past few months. After hitting an all-time high of almost $20,000 in December, the prices of Bitcoin and some major altcoins plummeted to yearly lows in January. However, the bulls are…