SBF: Not So Lucky After All 😟

In today's edition: Crypto Villains World Cup's final game, Ellison admits wrongdoing, SBF's Judge withdraws from the case, and more!

December 26, 2022

The Grand Finale: Who do you think was the *most* villainous villain of 2022?

Vote in our Twitter poll!

If you haven’t watched it yet, recap the year of carnage here:

On the Pod…

In the News…✍️✍️✍️

  • District Judge Ronnie Abrams withdrew from presiding over Sam Bankman-Fried's case due to a potential conflict of interest, as her husband Greg Andres is a partner at Davis Polk & Wardwell, a former adviser to FTX.

  • Caroline Ellison admitted in a federal court in New York that she and former FTX CEO, Sam Bankman-Fried, deliberately misled lenders by creating false financial statements regarding the amount of money the firm was borrowing.

  • Paxos recovered 11,184 Paxos Gold (PAXG) tokens worth $20 million stolen during the FTX hack in November.

  • Leading NFT marketplace OpenSea is delisting Cuban artists and collectors from its platform in order to comply with US sanctions. 

  • Bitcoin mining equipment and hosting provider Blockware Solutions is being sued for allegedly breaching a contract, negligence, and fraud by a customer seeking at least $250,000 in damages.

  • Ren DAO voted to fund the development of its new version by minting 180 million REN tokens, valued at approximately $10.8 million.

  • According to a report by Hashrate Index, Bitcoin mining companies finished 2022 with a total of $4 billion in debt.

  • A suspected North Korean hacker group made a profit of $365,000 by stealing and reselling 1,055 NFT tokens this year.

  • Research shows that wash trading accounted for over $30 billion of NFT trading volume on Ethereum, representing more than half of total NFT trade volumes in 2022 and almost 45% of all-time NFT trading volume.

Today in Crypto Adoption...

  • The International Chess Federation partnered with layer 1 blockchain Avalanche to bring its competitions to Web3.

What Do You Meme

📈 Your Market Update 📉

  • BTC is up .1%, trading at $16,866

  • ETH is up .11%, trading at $1,221

  • BTC dominance: 38.59%

  • Crypto market cap: $841 billion

*All data as of today, 5 am ET

Recommended Reads

  1. Ram Ahluwalia, a recent guest on Unchained, on DCG’s $1.1 billion loan:

  2. CoinDesk’s Michael Selig on why 2023 will be a year of Regulation vs Decentralization.

  3. Decrypt’s Ben Munster on Web3 VCs.

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