🤜 Coinbase vs. Apple 🤛

New pod: is crypto headed down? - Plus: Coinbase has a conflict with Apple, DCCPA is delayed, another exploit in BNB, and more...

December 02, 2022

On the Pod…

Adam Cochran, partner at Cinneamhain Ventures, talks about the collapses suffered during this year, their impacts on big traditional finance players, and what’s coming in the crypto markets in the near future. Show highlights:

  • whether Sam Bankman-Fried lied during his interview at the Deal Book Summit

  • why SBF kept the number of FTX's engineers at such a low number

  • why Adam is optimistic about Genesis and DCG

  • what options Genesis has to raise liquidity

  • the significance of a potential meltdown of DCG in the crypto industry

  • why Adam is worried about Grayscale Bitcoin Trust (GBTC)

  • what lessons can be learned from this crypto winter

  • Adam's prognosis for crypto lending and for the crypto markets in general

  • the impact of the bankruptcy of BlockFi and all the other centralized lenders

What’s Poppin’?

Coinbase said it was forced to disable NFT transfers after Apple demanded a 30% tax on gas fees to be paid through its in-app purchase system.

Grayscale shared a document signed by its custodian Coinbase Custody showing that GBTC held 635,235 BTC as of Nov. 18.

The Digital Commodities Consumer Protection Act (DCCPA) bill has been delayed.

Russian banking giant Sber plans to be fully compatible with Ethereum’s DeFi ecosystem after its integration with MetaMask.

Ankr, a DeFi protocol built on BNB-Chain, suffered a $5 million exploit on its aBNB token.

On Unchained Premium 💎

In Other News…✍️✍️✍️

  • Politicians are giving back the money donated by Sam Bankman-Fried.

  • Crypto exchange BitMEX launched a Proof of Liabilities (PoL)  system to allow users to verify the liabilities of the company. 

  • Magic Eden, the biggest NFT marketplace on Solana, will release a protocol that allows creators to enforce royalties on new NFT collections.

  • U.S. Deputy Treasury Secretary Wally Adeyemo urged the US to cooperate with other countries to develop international crypto regulation.

  • MakerDAO voted in favor of increasing the DAI savings rate from 0.01% to 1%.

Today in Crypto Adoption...

  • Fintech unicorn Stripe partnered with Web3 companies, including Magic Eden and Audius, to integrate its fiat-to-crypto onramp solution.

  • Trading volume on decentralized exchanges increased by 93% since last month. 

  • Crown Ribbon brings the horse racing industry to Web3 with NFTs.

The $$$ Corner…

  • Fleek, a Web3 developer platform, raised $25 million in a Series A funding round led by Polychain Capital. 

  • Cyvers, a cybersecurity startup that works with Web3 firms, closed an $8 million seed round led by Elron Ventures.

What Do You Meme

📈 Your Market Update 📉

  • BTC is down .77%, trading at $16,975

  • ETH is down .47%, trading at $1,278

  • BTC dominance: 36.83%

  • Crypto market cap: $886 billion

*All data as of today, 5 am ET

Recommended Reads

  1. Sam Bankman-Fried’s interview with New York Magazine's Jen Wieczner:

  2. Garden Intelligence on Uniswap and Metamask's backlash around user tracking

  3. Christopher Robbins on the investment opportunities still available after the fall of FTX:

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