💰 Good News for FTX Creditors !?️

In today's edition: 💵 FTX recovers $5 billion, 🕵️ Macalinao brothers are probed, El Salvador goes further into its Bitcoin journey, 🔺 Avalanche partners with AWS, and more!

January 12, 2023

On the Pod…

What’s Poppin’?

Bankrupt crypto exchange FTX has recovered more than $5 billion worth of liquid assets, a bankruptcy attorney disclosed on Wednesday.

The U.S. Department of Justice is investigating Ian and Dylan Macalinao, the brothers who allegedly inflated Solana’s TVL by stacking protocols on the blockchain, masquerading as 11 pseudonymous developers.

Amazon Web Services has added the Avalanche blockchain to its list of supported AWS Marketplace partners.

El Salvador has approved a bill that paves the way forward for the country to issue its $1 billion Bitcoin-backed bond.

In Other News…✍️✍️✍️

  • Treasury officials declined to respond to Republican representative Tom Emmer's inquiries regarding the blacklisting of Tornado Cash.

  • The Securities and Futures Commission of Hong Kong stated its intention to shorten the list of tokens available for trading among retail investors.

  • Dutch Bitcoin trading platform Bitvavo refused a proposal by Digital Currency Group (DCG) to repay 70% of the debt of Genesis Trading and argued that it should be able to repay all locked funds.

  • Kyle Davies, cofounder of Three Arrows Capital, said that the firm's creditors are disappointed with the ongoing bankruptcy process, citing high costs, delays caused by disagreements among creditors, and dissatisfaction with the way the estate is being valued.

  • Lens, a decentralized social media protocol, launched a new feature called "token-gated publications" that allows creators to monetize their content by providing access only to members who hold certain tokens in their crypto wallets.

  • Creditors in the BlockFi bankruptcy proceedings have requested to keep their personal information private, as they're worried about identity theft and hacking.

  • Judge John Dorsey rejected a request from media organizations and the US government to disclose the list of creditors for FTX, which will remain sealed for another three months.

  • The Game of Thrones NFT collection sold out in seven hours despite major discontent about the quality of the digital assets. 

  • Binance CEO Changpeng Zhao said the company aims to hire up to 2400 employees in 2023.

The $$$ Corner…

  • 1kz and Caste Island ventures led a $7.2 million round for Alkimiya. 

  • Quasar Finance, a DeFi startup, closed a $5.4 million round led by Shima Capital.

What Do You Meme

📈 Your Market Update 📉

  • BTC is up 4.07%, trading at $18,167

  • ETH is up 4.39%, trading at $1,400

  • BTC dominance: 38.14%

  • Crypto market cap: $918 billion

*All data as of today, 5 am ET

Recommended Reads

  1. John Hyatt from Forbes on Barry Silbert

  2. Bloomberg on how the crypto meltdown has impacted the Winklevoss twins

  3. Stefan George on why he is optimistic for crypto in 2023:

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