💣 A ‘Bad-Faith Regulator’ !?️

In today's edition: 🎙️ Rep. Tom Emmer's spicy takes, 📄 U.S. Treasury's DeFi report, 🥷 over $300 million tied to Terra crimes, and more!

April 07, 2023

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Show highlights:

  • why Rep. Emmer thinks there's an operation to cut crypto off from the banking system

  • how, as he puts it, Sen. Elizabeth Warren has been 'dancing on the grave' of the recent banking failures

  • how the interest in crypto in Congress has changed over time, especially after the Infrastructure bill in 2021

  • whether the CFTC lawsuit against Binance represents an "appropriate" use of enforcement actions

  • why Rep. Emmer says that bureaucrats are trying to polarize blockchain technology

  • how the US’s attitudes toward crypto could affect the country’s global power

  • why he is against FedNow, the new Federal Reserve's payment system

What’s Poppin’?

by Samyuktha Sriram

The U.S. Treasury’s DeFi risk assessment report calls for enforcing stronger AML standards in the crypto industry.

South Korean prosecutors have tied $69 million worth of criminal proceeds to Terraform Labs CEO Do Kwon.

zkSync plans to make changes to Era’s gas metering to recover the $1.7 million worth of ETH locked in the GemstoneIDO smart contract.

The OPNX exchange has generated little to no traction since its launch on Tuesday.

Daily Bits…✍️✍️✍️

  • A law firm is seeking alternative methods to serve Shaquille O'Neal in a lawsuit involving FTX, alleging that he has been hiding and playing a cat-and-mouse game, after he was named a defendant in a class-action lawsuit for promoting FTX.

  • Binance's financial services license in Australia has been canceled by the Australian Securities and Investments Commission. Starting April 14, Binance users will no longer be able to increase derivatives positions or open new positions on the platform.

  • Buncombe County in North Carolina is considering a one-year moratorium on Bitcoin mining operations to establish clearer standards.

  • Whales are accumulating more governance tokens in Arbitrum as the platform responds to criticisms over its controversial AIP-1 proposal and issues updated proposals.

Today in Crypto Adoption...

  • Bitstamp partnered with Tesseract to launch a new crypto lending service, offering up to 4.4% APY and daily rewards, across select European markets as well as in Hong Kong and the UAE.

The $$$ Corner…

  • Bitkraft raised $220.6 million for its second "token fund," according to an SEC filing, but the firm didn't comment on the nature of the investment mandate.

🤓 Learn

Countries are rushing to research and develop CBDCs, but government-issued digital money comes with risks.

What Do You Meme?

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📈 Your Market Update 📉

  • BTC is up .1%, trading at $27,937

  • ETH is down .5%, trading at $1,858

  • BTC dominance: 43.68%

  • Crypto market cap: $1.22 trillion

*All data as of today, 7 am ET

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