• Specs ⌐◪-◪
  • Posts
  • 10/19/23: Elizabeth Warren's Battlecry Against Crypto 🚨⛓️🗽

10/19/23: Elizabeth Warren's Battlecry Against Crypto 🚨⛓️🗽

Author

Valko
October 19, 2023

Top News

  • 🚨 Sen. Warren tells White House crypto is a national security threat

  • ⛓️ Aptos experienced a malfunction which led to a 5-hour outage

  • 🗽 New York Attorney General suing Genesis, Gemini, and DCG

Sen. Warren, 100+ legislators write White House, Treasury about crypto and terrorism

U.S. Sen. Elizabeth Warren has spearheaded a letter on the role of cryptocurrency in financing terrorism that garnered over 100 signatories.

⌐◪-◪ → I’m sorry, but no. If crypto is a national security threat because terrorists are using it, then so is the US Dollar. Chainalysis (the IRS’ partner in crime) even says that reports are overestimating crypto’s role in terrorist financing

Aptos resolves network issues following five-hour outage

Aptos faced a network malfunction today, with some crypto exchanges temporarily suspending deposits and withdrawals of APT.

⌐◪-◪ → If Solana taught us anything, blockchain outages are an incredibly difficult thing to recover from reputationally. With that said, despite many reliability issues, Solana surprisingly remains in the fight. As for me - I’m not touching this centralized garbage.

Gemini, Genesis, DCG Sued by New York AG for Allegedly Defrauding Investors of $1B

The lawsuit alleges Gemini knew Genesis’ loans were undersecured and, at one point, highly concentrated with Sam Bankman-Fried’s Alameda Research but did not reveal this information to investors.

⌐◪-◪ → The crypto legal world is popping off between this case, Coinbase vs. SEC, and of course the infamous SBF criminal trial. The NYAG’s complaint is focused on Gemini’s Earn product, which involved lending money to Genesis, which was ultimately lost to Three Arrows Capital. I just hope the SEC doesn’t use this as an excuse to delay BTC ETF decisions.

Help Specs improve by taking this 1-min feedback survey → here

Peripheral Vision

⛓️ Crypto & DeFi

  • Tesla did not sell any BTC in Q3 and still holds $275M

  • Gas station in Florida becomes 1st in US to accept BTC lightning

  • Stablecoins can now issued on BTC with new Taproot Assets protocol

  • Bitfinex CEO believes RGB is the best way to issue stablecoins on BTC

  • Reddit mods dump reward tokens hours before public announcement

  • Polygon proposes council for decentralized governance, names 13

🏦 Wallstreet & VC

🏛️ Legal & Regulatory

  • Gary Gensler says the SEC is reviewing all BTC ETF applications

  • Elon Musk & Mark Cuban team up vs. SEC with Supreme Court filing

  • Cathie Wood says “SEC’s behavior has changed” in favor of BTC ETFs

  • Grayscale submits new spot BTC ETF filing after pivotal court ruling

  • FTX’s stake in AI startup Anthropic is worth between $2.5B - $3.6B

  • Federal Reserve Governor Bowman says CBDC benefits are unclear

🌎 Rest of the World

🖼️ NFTs & Metaverse

  • William F1 launches NFT collectible and grid pass with Kraken

  • Macy’s steps into the metaverse with new digital fashion platform

  • Yuga Labs, Magic Eden, and OMA3 join forces to fix royalties

  • CryptoPunks launches collab with Avant Arte to create punk prints

  • France passes “Sorare law” to regulate NFTs and Crypto Games

  • Getty Images and Candy Digital launch NFT collection

Spectacular Shoutout

Today’s shoutout is from my BAYC brother, Morelif3!

To get featured here → give us a shoutout on 𝕏!

Help Specs improve by taking this 1-min feedback survey → here